Business
Proposed Nuclear Power Plants’ll Boost Electricity – Expert
A Russian nuclear energy expert has said that the construction of a proposed Nuclear Power Plant (NPP) in Nigeria is capable of delivering stable and affordable electricity in the country.
Dmitry Shornikov, also the Chief Executive Officer, Central and Southern Africa, Nuclear Energy Corporation (ROSATOM), said this in an interview text emailed to newsmen in Abuja yesterday.
According to the expert, another advantage of NPP is the predictability of the price of electricity, which has a life span range of between 60 to 80 years.
“Another proven advantage of nuclear power is its environmental friendliness, NPPs do not emit any harmful substances into the atmosphere during their operation.
“First and foremost, I have to point out that nuclear energy is not a competitor with other energy sources but rather a compliementary base load source.
“Nuclear power is characterised by the very large amount of energy available from a very small amount of fuel.
“The amount of waste is correspondingly very small, for example, 25 tons of uranium generates roughly the same amount of electricity as 2.7 million tons of coal.
“The nuclear sector is also the only energy sector that safely stores 100 per cent of all its waste.
“As far as security of supply goes, nuclear is unrivalled, new generation NPPs are able to achieve net capacity factors of well over 90 per cent, whereas renewable sources for instance achieve far less than half of that.
“The net capacity factor is essentially the ratio of a power plants’ actual output over a period of time, when compared to its potential output if it were possible for it to operate at full capacity continuously over same period of time.
“Nuclear energy, therefore, becomes a vital component in the development of a clean energy mix in any country.’’
He said that the primary energy consumption in Nigeria was largely through traditional biomass and waste, consisting of wood, charcoal, manure, and crop residues.
This, according to him, accounts for 74 per cent of energy mix in Nigeria.
“This high share represents the use of biomass to meet off-grid heating and cooking needs, mainly in rural areas.
“The International Atomic Energy Agency (IAEA) estimated that 115 million people in Nigeria rely on traditional biomass and waste as their main sources of energy.
“The other 26 per cent is made up of oil, gas and hydropower. In recent years, the electricity production from hydroelectric sources has plunged due to water shortages and climate change.’’
On safety concerns raised over the proposed NPP in Nigeria, Dmitry said; “Modern nuclear reactors and plants have proved to be real ‘workhorses’ for developed and developing countries.
“They are among the safest and most secure industrial facilities in the world.’’
He said the multiple layers of physical security, inherent in NPP, together with high levels of operational performance, protects plant workers, the public and the environment.
“Nuclear plants are well-designed, operated by trained personnel, defended against all forms of attacks and prepared in the event of an emergency.
“All the standards in the sphere of NPP construction and exploitation are well elaborated and being monitored constantly by high-level team of international experts from IAEA and key Member-States.
“Stringent international regulation, automated, redundant safety systems and the industry’s commitment to comprehensive safety procedures keep nuclear power plants and their communities safe.”
Meanwhile, Nigeria is among the African Regional Cooperative Agreement for Research, Development and Training Related to Nuclear Science and Technology (AFRA) a regional cooperative aspect of IAEA.
Dmitry said Nigeria needs to diversify to other energy sources like nuclear power as “not many sources alone can provide a sustainable, economically viable and secure supply of electricity.
“Therefore, an energy mix is crucial because different sources can bring together these three factors’’.
“Hydrocarbons such as coal for instance are economically viable and offer stable power but are unfortunately very bad for the environment.
“Renewable such as wind and solar are great for the environment but are irregular by nature, and only produce electricity when the wind is blowing or the sun is shining.
“There is unfortunately no economically viable methods of storing power at this point.”
He said it was also important not to be overly dependent on a single source of power, as many African countries were excessively dependent on hydro, which has proved detrimental in the ever changing climate conditions.
Dmitry said the inclusion of nuclear energy to Nigerian’s energy mix would provide much needed diversity and stability to the country’s energy mix.
“Nuclear energy and renewable are not mutually exclusive, each of them has its advantages and models of use, both sources are clean and eco-friendly.”
He said a recent analysis conducted by the Nuclear Energy Institute (NEI) indicated that nuclear plants create some of the largest economic benefits when compared to all other generating sources.
According to NEI, the operation of a nuclear plant requires the highest number of skilled workers per kWh produced when compared to any other technology.
“On average, these jobs pay 36 per cent more than the average salaries in the area where the plant is constructed.
“New plant construction creates a direct demand for thousands of locally sourced skilled labourers such as welders, pipefitters, masons, carpenters, millwrights, sheet metal workers, electricians’ and heavy equipment operators among others.
He further listed benefits to be derived from the implementation of NPP projects to include availability of local investments aimed at maintaining the well-being of the region and development of science and technology.
The ROSATOM official said that the continuous development of the sectors would transform the country into a major economic force on the continent and on the global market.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter
