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Business

Africa accounts for only 6% of global energy demand – AfDB

The AfDB has decried Africa’s lack of access to electricity and says it will keep increasing due to the COVID-19.

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Nigeria to fix irregular power supply in 40 years- Senate, Customers to pay for metering through cost of tariff- NERC

The African Development Bank (AfDB) has revealed that Africa only accounts for just 6% of global energy demand. The Bank also stated that Africans without access to electricity will increase by 30 million in 2020 due to COVID-19.

This information was disclosed by Mr Kevin Kariuki, Vice President, Power, Energy and Green Growth of AfDB at the second webinar series of the Africa Investment Roundtable (AIR) themed: “Sustainability En route COP26” in Lagos on Monday.

He revealed that due to Covid-19, Africans without access to electricity would increase by 30 million citing that Africans make up 72% of people globally without electricity.

READ: Could lack of power supply be hindering Nigeria’s COVID-19 recovery?

“Africa accounts for only six per cent of global energy demand, a little more than three per cent of electricity demand.

“This, I must observe is abject energy poverty, because out of 790 million people without access to electricity globally, 565 million (72 per cent) are in Africa.

“It has been projected that African without access to electricity will increase by 30 million in 2020 owing to COVID-19,” Kariuki said.

READ: Vaccines and debt relief are critical key to Africa’s recovery from COVID-19 – AfDB boss

He added that Africa has the lowest per capita electricity consumption in the world citing 85kw hours per annum.

“Also, 900 million people in Africa lack access to clean cooking which excludes them from economic and health benefits that come with access to clean cooking.

“We cannot be proud of this development, because lack to access to clean electricity constraints modern economic activities and hampers improvements in the quality of lives of Africans,” he said.

READ: Africa’s annual infrastructure financing gap estimated at $64-108 billion – AfDB President

What you should know 

  • According to EnerData, Nigerian electricity consumption per capita was 0.8 toe in 2019. Electricity consumption per capita is relatively low in comparison to neighbouring countries and reached 130 kWh/hab in 2019 as Total consumption has increased by 3.7%/year since 2016, reaching 168 Mtoe in 2019.
  • The World Bank has approved $500 million to support Nigeria in improving electricity distribution in the country.
  • “The operation will help improve the financial viability of the DISCOs and increase revenues for the whole Nigerian power sector, which is critical to save scarce fiscal resources and create jobs by increasing the productivity of private and public enterprises,” the World Bank said.
  • The Minister of Power, Engineer Sale Mamman,  disclosed in October 2020 that Nigeria’s installed grid power generation capacity has grown from 8,000mw to 13,000mw since 2015.

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Business

AfCFTA to reduce illegal gold mining in Nigeria – Minister of Mines

The Minister of Mines and Steel says that illegal gold mining would be stemmed by the implementation of AfCFTA.

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FG to launch policy to prevent smuggling of mineral resources

The Nigerian Government announced that the implementation of the African Continental Free Trade Area (AfCFTA) would help reduce illegal mining in the country and also standardize Mining practices in Nigeria.

This was disclosed by the Minister of Mines and Steel Development, Mr Olamilekan Adegbite, at the NAN forum in Abuja on Sunday.

The Minister disclosed that the mining sector was ignored by the Federal Government after oil was discovered, which made it possible for artisanal miners to venture into the sector.

Right now, many Nigerians are into artisanal mining and this was caused by the fact that when oil was discovered, Nigeria moved away from mining, which was the mainstream of the economy.

Before oil and gas, Nigeria relied on coal and tin; we were exporting and were indeed, quoted on the London Metal Exchange.

“And that is basically what was giving Nigeria money in those days before oil came but when oil came, we moved away. We left mining behind,” he said.

READ: Aviation Minister orders airline operators to ensure rights of persons with disabilities

He added that the most mined commodity in Nigeria by artisanal miners is gold, which has created a lucrative black market for international buyers. He also said that with the AfCFTA, documentation of mining exports would be required, reducing illegal outflows.

Gold is the most traded mineral in Nigeria and these people mine gold and get nuggets. There are several thousands of such miners, when you aggregate what they mine, it comes in large volume and several kilos of gold,” he said.

To know the extent of the money they make in the gold business, they hire private jets to take them out illegally because they realise a lot of money.

“At the rate gold is selling, one ounce of gold is selling for $2,200 and by the time you carry a thousand kilogrammes, you are making several billions of naira.

But with AfCFTA coming into effect, we hope that other countries will cooperate with Nigeria because now it is a free trade but there is documentation,” he added.

READ: Gold prices suffer worst week in four months

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The Minister said that with AfCFTA going into effect, the FG hopes it will help stem the problem because Nigeria is  supposed to trade freely with Africa with documentation.

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We hope that other countries will cooperate with Nigeria. I will not allow such illegal activity to go on within those countries,” he said.

In case you missed it: Nairametrics also reported that the Mining Minister said a Nigerian-Canadian company, mining gold in Nigeria’s Osun State looks set to commence the exportation of gold in June this year.

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Insecurity: Nigeria needs to increase military spending – Senator Ali Ndume

Ndume has called on the FG to increase military funding so as to contain the rising insecurity in the country.

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#EndSARS: Nothing wrong with social media bill - Ali Ndume, Senate rejects VAT increase

Senator Ali Ndume insisted that the Federal Government needs to increase its total military spending to be able to tackle the rising insecurity in Nigeria which has seen a number of school students in 2021 kidnapped by bandits.

The Senator disclosed this in an interview with Channels TV on Sunday evening.

“We have the forces on ground, but they need what it takes especially more equipments.

“All these take a lot of money, and they need to be given those things in order for them to perform.

“The number one priority is ammunition and those are lacking. They are not sufficient enough,” the Senator said.

READ: Don Jazzy laments artistes’ loses to insecurity across Nigeria

The Senator said that the Nigerian Air Force must have the air capabilities that translate to things like fighter jets, helicopters, etc. Ndume said that the military must be given adequate training in order to be able to manage such equipment.

He added that Nigeria is placed in an unfortunate position, which has seen it lacking in air defense capabilities and revealed the build-up to higher military equipment purchase is not easy.

He called for the FG to explore all options, in order to make sure that the Nigerian armed forces have all that they need to rise up to the challenge of insecurity.

READ: Boko Haram: A protracted battle yet to be won?    

He said, “I am not satisfied. The funding of the armed forces and security agencies is not enough, compared to our population of over N200 million.

“When you look at current military spending, compared to other poor countries around, we are not doing enough, we have to do more.”

What you should know 

  • In recent years, insecurity in the country has heightened with Boko Haram terrorism, herders-farmers clashes, attacks and kidnappings by bandits, etc.
  • Nairametrics reported that President Muhammadu Buhari said the Federal Government will not succumb to blackmail by bandits who target innocent school students in the expectation of huge ransom payments.

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