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RSG, Firm Sign MOU To, Protect, Preserve Forests’ Ecosystems …To Establish Blue Carbon Credits Scheme
Rivers State Government has signed a Memorandum of Understanding (MoU) with Senendib Capital Limited for the protection and preservation of mangrove forest ecosystems within the State and the establishment of a Blue Carbon Credits Partnership.
The MoU signing, which was supervised by the Rivers State Attorney General and Commissioner for Justice, Dagogo Israel Iboroma, SAN, was signed by the Rivers State Commissioner for Energy and Natural Resources, Engr. Uchechukwu Nwafor, and the Director of Petroleum, Rivers State Ministry of Energy and Natural Resources, Dr. Temple Amachree, on behalf of the Rivers State Government at the office of the Attorney-General in Port Harcourt last Wednesday.
The Managing Partner and Chief Executive Officer, Serendib Capital Limited, Rafat Rizvi, and the Chief Operating Officer, Serendib Capital Limited, Christian Elemele, signed on behalf of Serendib Capital Limited.
Speaking after the signing ceremony, the Rivers State Commissioner for Energy and Natural Resources, Engr. Uchechukwu Nwafor, who noted the high level of degradation of the mangrove forests in the State and the Niger Delta as a result of illegal oil bunkering activities, said the project will integrate mangrove restoration, seagrass conservation and sustainable agriculture.
He also observed that the project will aid in tree planting, biochar production with a view to bringing about a transformative shift in environmental and socio-economic gains in the State.
He said, “The project will benefit the State in no small measure, and in particular, increase our Internally Generated Revenue (IGR).
“The Rivers State Government, will therefore, provide the needed logistics in line with the terms of the MoU as well as security to ensure the success of the project”, he asserted.
In his remarks, the Managing Partner and Chief Executive Officer, Serendib Capital Limited, Rafat Rizvi, said the project would be part of a larger mangrove marine ecosystems restoration programme known as Delta AZURE, which will be the world’s largest blue carbon credit project.
Rizvi noted that the mangrove restoration project will prevent the deforestation of 170,000 hectares of forest through afforestation, reforestation, revegetation and replantation.
He noted, “The carbon credits generated from the project would be used to bring tangible benefits to the State we operate in and would be used as an economic vehicle to support the communities involved.
“The conservation project would generate carbon credits that would be used as an alternative income source for those local people who may otherwise make an income from illegal logging and deforestation”, he observed.
Rizvi added that the project will create a significant number of jobs within the local communities and help the State in terms of diversifying it’s revenue streams not just in the short term, but for a very much a longer term.
He expressed the company’s commitment to work in synergy with the local communities while also seeking their cooperation, and commended the Rivers State Government for the trust, just as he assured that they will not betray the confidence reposed in them.
President Bola Tinubu has approved the nomination of four new members to the Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB).
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement yesterday, said the appointment is to fill existing vacancies and strengthen the board’s capacity.
The statement said the approved nominees are Mr. Olusegun Omosehin of the National Insurance Commission and Engr. Wole Ogunsanya of the Petroleum Technology Association of Nigeria.
Tinubu also endorsed the nomination of Sam Onyechi, who represents the Nigerian Content Consultative Forum and Barrister Owei Oyanbo from the Ministry of Petroleum Resources.
The President encouraged the new members to leverage their expertise and dedication to enhance local content development within Nigeria’s oil and gas industry.
It added, “The nominations arose from the exit of previous institutional representatives from the Governing Council.
“The NCDMB Governing Council, established under Section 69 of the Nigerian Oil and Gas Industry Content Development Act, 2010, comprises representatives from key institutions.
“These include the Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian National Petroleum Company Limited, the Petroleum Technology Association of Nigeria, the Council for the Regulation of Engineering in Nigeria, the Nigerian Content Consultative Forum, and the National Insurance Commission.”
The Niger Delta Development Commission (NDDC) has announced plans to construct additional hostels, rehabilitate roads, and enhance power supply in the University of Port Harcourt (UNIPORT).
NDDC’s Managing Director, Dr Samuel Ogbuku, disclosed this during a visit to the commission’s headquarters in Port Harcourt, yesterday by a delegation from the UNIPORT’s Governing Council.
Ogbuku stated that the NDDC had committed to upgrading facilities at UNIPORT as part of efforts to foster partnership with educational institutions across the Niger Delta.
According to him, the implementation of additional projects at the university forms part of a broader strategy to improve education standards in the region.
“Aside from the construction of new hostel blocks and installation of a 300 KVA solar inverter system, the NDDC will also facilitate more projects in the university.
“The commission will also deploy its engineers to assess the condition of UNIPORT’s roads and hostels for potential rehabilitation,” he said.
Ogbuku noted that upon completion, the projects would add to various initiatives previously undertaken by the commission at the university.
“These and other projects reflect our commitment to actualising President Bola Tinubu’s Renewed Hope Agenda in the Niger Delta region,” he added.
He reaffirmed the NDDC’s dedication to fostering development and strengthening partnerships across the region.
Earlier, Sen. Mao Ohuanbunwa, Chairman of UNIPORT’s Governing Council, who led the delegation commended the current leadership of the NDDC for its achievements in accelerating development in the Niger Delta.
He highlighted the university’s infrastructural challenges, noting that it lacked adequate facilities to accommodate its growing student population, and appealed for the NDDC’s support in addressing the shortfall.
“Currently, UNIPORT has a total student population of about 50,000, while its hostel accommodation capacity can only cater for 5,000 students.
“We therefore urge the NDDC to assist in the construction of additional hostels, improve transportation facilities, and facilitate the acquisition of gas turbines to enhance power supply for our students,” Ohuanbunwa pleaded.
The Vice Chancellor of UNIPORT, Prof. Owunari Georgewill, commended NDDC for its impactful projects across the Niger Delta and extended an invitation to the commission to participate in the institution’s forthcoming 50th anniversary celebrations.
The Senate has rejected a motion to rename the Independent National Electoral Commission (INEC) headquarters after the former chairman of the defunct National Electoral Commission, late Prof Humphrey Nwosu.
Nwosu presided over the June 12, 1993, presidential election, which was truncated by the former military President, General Ibrahim Babangida (rtd).
The election which was won by the late business mogul, Chief MKO Abiola, was adjudged to be the freest and fairest in the electoral history of Nigeria.
The motion to rename INEC after Nwosu was re-sponsored by Senator Enyinnaya Abaribe yesterday after lawmakers threw it out last Wednesday.
Abaribe called for posthumous national honours to be conferred on Nwosu in recognition of his role in Nigeria’s democratic evolution.
However, the proposal sparked a heated debate once again, with lawmakers deeply divided over Nwosu’s legacy.
Senator Osita Ngwu acknowledged that Nwosu operated under a military regime, which restricted his ability to announce the results.
He argued that “there was no way he would have announced the results with a gun to his head. That doesn’t change the fact that some of us see him as a hero.”
Senator Austin Akobundu, however, described it as most uncharitable for lawmakers to dismiss Nwosu’s contributions, insisting that he deserved a place in Nigeria’s hall of honour.
On the other hand, several senators like Senator Jimoh Ibrahim dismissed the idea outright, questioning why the Senate should honour someone who failed to announce the results insisting that “nothing should be named after him”.
Senator Cyril Fasuyi argued that history does not reward efforts, but only results.
“As long as he did not announce the result, whether under duress or not, I am against naming INEC headquarters after him,” he submitted.
Also, Senator Sunday Karimi criticised Nwosu for lacking the courage to speak out, while Senator Afolabi Salisu warned that immortalising him would undermine the memory of MKO Abiola, the widely accepted winner of the June 12, 1993, annulled election.
“Any attempt to do anything beyond a one-minute silence is to rubbish Abiola’s legacy,” he tendered.
After intense deliberation, most senators rejected the motion through a voice vote.
They, however, agreed to honour him with a one-minute silence and extend condolences to his family, effectively dismissing the other prayers to immortalise Nwosu.