Opinion
During Future Energy Resources
Investing in Russia since the 1991 collapse of Communism has always attracted a different breed of financier, with the most basic requirement being a cast-iron stomach.
For those brave enough to plunge in however, the rewards can be enormous – to give but one example, Troika Dialog, the oldest and largest private investment bank in the Commonwealth of Independent States, in the early 1990s was producing eye-watering annual rates of return for its subscribers of over 200 per cent.
That said, for every Troika Dialog there have been a dozen other ventures that crashed and burned, leaving foreign investors scorched.
But for those with a gambling streak, a new intriguing proposal, if implemented, may produce handsome returns in a most unlikely field – solar power.
Surprisingly to most, Russia has a range of locations suitable for solar power, including large expanses of Siberia and the Russia Far East, as well as the Caucasus. In the last-named region, some local politicians are seeking to establish the North Caucasus in the forefront of solar equipment manufacturing.
During an 23 August meeting, representatives of Stavropol Kray and state officials from the five regions, comprising the North Caucasus Federal District (SKFO) pored over a proposal drawn up by the Republic of North Ossetia-Alania to establish a “high technology industrial complex for producing silicon for solar energy applications,” giving the Caucasus its very own “Silikon Valleysky.”
According to the proposed program, each of the five regions would have a part of the production.
Most intriguingly for prospective investors, the endeavour would be a state and private joint venture. According to Ingushetia Republic representative, Vakha Yevloyev, the state and private investors would each front 50 per cent of the development costs.
The project would not come cheap, with start-up costs estimated at $1billion.
Association of Solar Energy of Russia coordinator, Anton Usachev said, “Polycrystalline silicon production will be located in the Stavropol region, while monocrystalline silicon production will be set up in Kabardino-Balkaria. The final production of photovoltaic cells and solar modules will be located in Karachay-Cherkessia and Dagestan respectively.
The raw material and production base of the alternative energy market is very new to Russia and is being fostered by local companies such as Nitol Solar and Hevel Solar in Novocheboksarsk, along with the Renova Group and Rosnano. For the moment, the potential market is export-oriented.”
Usachev added that this year the world solar energy market is expected to grow by 30 per cent.
Yevloyev, a strong supporter of the proposal, commented that the one billion dollar project could break even in two to seven years, with the costs split between investors and the state.
Usachev estimated that the North Caucasus has an average of 300 sunny days a year and that the cost of solar energy could be two-thirds lower than traditional energy sources such diesel-generated power.
Plans call for coordinating the project with the staff of the Russian Federation Presidential Envoy to the SKFO Aleksandr Khloponin later this month, with an agreement between the republics tentatively scheduled to be signed next month during the 10th International Investment Forum in Sochi.
Of course, the project has political overtones, as much of the Caucasus has been wracked by militancy over the past two decades. Given that Sochi will host the 2014 Olympic and Paralympic Winter Games, Moscow is determined to show off the region in the best possible light, and progressive industries would do so.
At a March 2008 meeting with Russian Prime Minister Vladimir Putin and President Dmitry Medvedev, State Duma Chairman Boris Gryzlov stressed the importance of solar power for electricity generation and informed them of a patented Russian technology for solar power applications that could be marketed.
Gryzlov subsequently wrote, “Development of renewable energy will make it possible not only to address the problem of energy supply, reduce dependence on hydrocarbon raw materials and improve the ecological situation, but also make money from the production and export of high-tech products and engineering solutions.”
Given that the project is likely to receive the Kremlin’s blessing, it is about as fool proof an investment as one is likely to find in the post-Soviet space. You read it here first.
Dr Daly, a London-based expert, contributed this piece to OilPrice.com in Washington, DC, United States.
John Daly
Opinion
IWD: Accelerating Action To End Women Harassment
March 8, every year is International Women’s Day. Recall that in 1922, Wedmir Lenin declared March 8 as International Women’s Day to honour women’s roles in the 1917 Russian Revolution. Subsequently, it was celebrated on that date by the Socialist Movement and Communist countries.However, the United Nations officially endorsed that date in 1977, establishing it as a global observance for women’s rights and gender equality. The 2025’s theme is “Accelerating Action” to advance gender equality by highlighting strategies, resources and initiatives that drive progress. Unfortunately, while many countries in the world accelerate action to foster inclusivity of women in mainstream policymaking and decision taking; recognise and celebrate the meritorious and creditable roles of women as primary agents of socialisation, sustainable growth and influencers, in other countries, in the Sub-Saharan Africa some women are being victimised, intimidated, and repressed for not giving in to pernicious sexual advances of some men in power.
Some women are being ridiculed and lampooned for cultivating the effeontery to resist the inordinate sexual harassment of base men. However I do not lose sight of the obvious reality that some women have played the porn as a result of lacking the strong will to say “no” to men who see women as opportunity to express their inordinate sexual urge even outside the bond of matrimony. Yes, the likes of Joi Nunieh and Senator Natasha who can cry out or call the shots and “slap” men who harass women are few among women. This makes women the architect of their reproach and disdain. When women go for the carrot, pottage, flashy cars, at the expense of morality, they lose their maiden dignity in civilised climes where moral values are savoured. Nothing in the world or comprehensively put, the whole world put together is not worth a woman’s worth, so no reason can best lend support to the situation where a woman offers her body as an opportunity to access pecuniary mundane, temporary benefits that have no eternal value and translates to a reproach.
Most societies have intentionally created a poverty-ridden situation where women are worst hit so the base fellows can use women weakness and lack as a smokescreen to get more than a pound of flesh for their paltry gifts. This is why in my considered view, the agitation for the acceleration of action to foster gender equality is imperative. Enough to women exploitation in political institutions, offices, religious organisations, families and educational institutions. Women’s fundamental rights should be recognised and accelerated to achieve the more than 35 percent affirmative action of the Geneva Convention. However, freedom is not without a price. Women must prove to men that the female gender does not suggest inferiority and cannot be exploited, or used as sex machine by men who lacked or have regard for moral values.
The White House sex scandal should inspire the Nigerian women to resist being abused and exchanged for worthless gifts. Women should rather choose to suffer marginalisation, and victimisation or possibly die for what they conscientiously believe is right than living in shadow of real life. Methinks men who have mother and realise that they are the gateway to physical should not fail to treat women with dignity. Paul said, “…. Treat the old women as your mother and the young women as your sisters with all purity and respect”. (1 Timothy 5: I). The time for women movements to rise to defend their fellow women from sexual harassment is now. It is only in a morally-decadent society that a man who has subsisting cases of sexual accusations, is treated as lord, instead of making him step aside for proper investigations. However, my heart goes out for men, organizations and institutions who in recognition of the critical and invaluable roles of women in Nigeria, rolled out drums to give them a pat at the back.
Consequently, I celebrate the Managing Director of the Rivers State Signage and Advertisement Agency (RISAA), Aye Pepple, who according to reports has urged individuals, organisations, and the government to celebrate women and actively encourage their growth in all spheres of life. Speaking in commemoration of International Women’s Day (IWD), Pepple emphasised the importance of recognising women’s contributions and ensuring they are empowered to achieve their full potential. According to him, “Women play an essential role in shaping our society, and their efforts must never go unnoticed. “This year’s International Women’s Day serves as a reminder that we must do more than just celebrate them”. He highlighted the significance of gender inclusion in leadership, entrepreneurship, and governance, stressing that societies that empower women tend to experience sustainable growth, adding that “at RISAA, we believe in amplifying women’s voices, whether in the workplace, in business, or in the creative industry. “We must all do our part to provide opportunities, mentorship, and support that help women succeed.” Kudos to institutions and organisations who understand the roles of women as agents of shaping society.
Igbiki Benibo
Opinion
Drunken Captains Of A Sinking Ship
Ronald Reagan, former President of the US, once said that “African leaders spend like drunken sailors; only that drunken sailors spend their own money while African leaders spend public money”. This opinion decries endemic corruption and the resultant underdevelopment in Africa; it reflects strongly on Nigeria, which is prodigiously endowed with human and natural resources yet flags the ignominious moniker of “poverty capital of Planet Earth”. Following the 2023 presidential election, an author referred to Nigerian leaders as “the scoundrels that are systematically sinking the ship of the Nigerian State”. In same vein, Majeed Dahiru held, on Kakaki TV, that Nigeria’s “political leaders act like drunken sailors aboard a sinking ship”. The thematic string that ties the above averments are the metaphors of “Drunken captains” and a “sinking ship” hence they informed the title and essence of this piece.
Currently, Nigeria strains from the senseless squandering of the nation’s resources by bleeders who masquerade as leaders while a mammoth majority of citizens wallows in abject poverty. The heartless display of affluence by authority figures belie the economic strangulation of the masses. Besides the brazen abuse of public office, political office holders in Nigeria recklessly display such personal wealth that cannot, by any stretch of the most liberal imagination, be justified within the limits of their legitimate income. From building trophy houses that only massage their bloated ego to acquiring outrageously expensive personal effects and holding lavish parties, Nigerian public officers constitute the worst role models. Patrice Ukposi, an attorney, thinks the phenomenon bothers on neurosis. The Nigerian President lives in the multi-mansion maximum security exclusivity of Aso Rock, far away from the reach of everyday Nigerians.
He rides in a 36-car motorcade, has a double digit jetliner presidential fleet and has two stretch limousines, SUVs and six outriders at his service during overseas trips . The abnormality of this is made profound when compared with his British counterpart who works in a modestly furnished office, lives in an equally modestly furnished apartment at No. 10 Downing Street, which is open 24/7 to everyday traffic and flies British Airways. The current Senate President who, Dahiru holds, “appointed thirty-three aides, for starters” competes rather favourably in this irresponsible display of opulence. In a video clip, a former senator displayed an array of expensive watches, a wardrobe stock to the brim with designer clothes, shoes, diamond-studded gold rings and chains, suitcases of vintage leather, perfumes and the luxurious interior of his expansive bedroom.
Also, numerous expensive cars and power bikes adorn his sprawling garage. Ukposi is right; this brazen display of obviously ill-gotten wealth indicates neurosis and calls for urgent psychiatric attention. Ironically, this recklessness is taking place in a country with high unemployment rate, approximately 30 million out of school (OOS) population and an economy that applies 97per cent of its revenue to service a debt burden (Q3, 2024) of $43.0 billion. By their docility, Nigerians have promoted evil to the highest positions in the land. Resultantly, Dele Farotimi and other crusaders who are courageous enough to still call evil by its name are being hounded and persecuted by evil doers in authority. The Nigerian Ivory Tower has been discolored by umpires turned electoral auctioneers. The hitherto rugged legs of the Bench have been broken and the wig smeared.
The clergies, the supposed keepers of the nation’s morality, have been drawn into the rot of crass materialism. Obviously, the Nigerian ship is sinking and the captains are stupefied by their neurotic quest for materialism oblivious of the fact that everyone will go down below if and when the ship sinks. Legislators approve for themselves monthly allowances that economically set them apart from the rest of the society thereby creating a social disconnect. Billions of Naira are spent on a presidential yacht and an additional jet to the double-digit presidential fleet; billions of Naira are allocation to nonexistent offices and more than eight billion Naira spent by the presidency on travels in the first quarter of 2024. Within the same period, State Governors collectively spent more than N968billion on refreshments. In less than three days, a loan request by the Presidency for more than N1trillion was approved by a complacent and compliant legislature.
Certainly, the captains of the Nigerian ship are drunken and the ship is lurching towards an economic abyss that might precipitate social upheaval of an unimaginable magnitude. At the state level, a drunken legislature of twenty-four whimsically increased the State budget by “more than N70billion”; this translates to N2.9billion per member. Talk of drunkenness. The height of the drunkenness of Nigeria’s captains is the current contemplation to create additional thirty-one States to make for sixty-seven States in a federation where not more than three of the existing thirty-six States are solvent. The simple supposition is that the legislators are striving to create more points of looting to serve their selfish interest. Like iguanas deaf to advice, the drunken captains of our sinking ship are lost in vice. Intoxicated by their ill-gotten loot, they are suffering from impaired decision-making while tightly clutching the helms of governance with incapable hands.
Therefore, Nigerians, especially the youth, must brace up for the generational struggle for political and economic emancipation from the stranglehold of swashbuckling psychopathic scoundrels who obviously are bent on sinking the ship of the Nigerian State.
Jason Osai
Osai lectures in Rivers State University.
Opinion
NDDC, A Regional Commission?
The Niger Delta Development Commission was established by the Federal Government of Nigeria to mitigate the effects of oil exploration and exploitation activities on the oil bearing communities or States. It is worthy to clarify that some of the NDDC states are not from South-South geographical zone. NDDC is about oil producing States, irrespective of the geographical location. South – South geographical zone is made up of six states namely; Akwa-Ibom, Bayelsa, Cross River, Delta, Edo and Rivers State. As it is today, there is no regional commission called South-South Commission. Rather, what is well-known, is Niger Delta Development Commission to aid development in the oil-bearing States. NDDC is a distinct interventionist agency of the Federal Government of Nigeria to douse down tension or agitation of the people of Niger Delta region.
Agitation by the bearing community led to the establishment of the Ministry of Niger Delta Affairs, despite being scrapped by the present administration of President Ahmed Bola Tinubu. For instance, Abia State is in South-East region and it is part of NDDC, and it will benefit from South-East Commission established by the present Federal Government of Nigeria, to fast track development of South-East Zone. So, Abia State would benefit from NDDC and South-East Commission. Abia is an oil producing state in Nigeria. In the same position, Imo State is a South-East State and also an oil producing state; which automatically makes it a member of NDDC State. And would benefit from both commissions; and no doubt, because of being an oil producing State and by location, South-East State. Automatically, by virtue of oil activities going on in the two Eastern States, they are members of Niger Delta Development Commission.
In the line of operation, Ondo State is in South-West region and by virtue of being an oil producing State, is a member of NDDC. This no doubt, makes Ondo State a beneficiary of NDDC creation. There is no question to ask why Ondo should be member of NDDC? And Ondo State is a member of South-West Development Commission, because of its geographical location as a State in that region. So, the argument that NDDC is a regional commission is out of place. Thus, NDDC is not only for States in the Niger Delta. Another question is: is there an established commission known as South-South Development Commission, that Rivers State, Akwa Ibom, Edo, Delta, Bayelsa and Cross River should benefit from? The answer is capital No! So NDDC is not a regional commission because it is not only for the six states that make up the South- South. Hence, there is need for the present Federal Government of Nigeria, to urgently address the inequality and disparity created already.
This is because the six geographical zones have zonal commissions. The Federal Government should correct the equation. The misconception that NDDC is regional is not in order and is not correct. As it is today, there is no South-South Commission to help fast track development in the region. The political representatives from the South-South zone, should unite themselves and demand for South-South Development Commission as other zones have theirs. The Federal Government should put modalities in place to establish South-South Development Commission. The status quo should not be allowed to remain as it is now. Thank God, the daily quota of oil production has increased to about 2.5m barrel per day. And that is the reason why South-South should also benefit from the increase of oil activities in Nigeria.
Observationally, every region is bracing up to gain from the oil revenue of the country. And South South Zone which seems to be the hub of oil and gas is lagging behind in terms of purposeful development. NDDC should embark on an aggressive development of the member states. The Federal Government of Nigeria, should correct the negative believe that NDDC is a regional commission. Politicians of the zone should sheathe their swords of discrepancies and work together for the development of the zone. There should be a united front to convince the Federal Government to create or establish South-South Development Commission. Therefore State of the South-South zone in the Niger Delta Development Commission should be made to benefit like their counter parts from South- East and South- West in the NDDC. Thus, NDDC goes beyond regional vision. And that is why the Federal Government should establish South- South Development Commission to balance the equation of regional commission springing up in the country.
Frank Ogwuonuonu
Ogwuonuonu is a free lancer in PortHarcourt.
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