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FG Seeks US Funding To Develop Natural Gas For Europe
The Minister of State (Petroleum Resources), Chief Timipre Sylva has called on the United States Government to provide funding to develop the country’s natural gas resources to serve as an alternative source of energy for Europe.
The call by Sylva is coming on the heels of the Russian war with Ukraine, which threatens the disruption of gas supplies from Russia to the entire European continent.
Speaking at a meeting with the US Secretary of Energy, Jennifer Granholm, on the side-line of the ongoing Ceraweek, in Houston, Texas, Sylva said the collaboration between the US and Nigeria in this area would be of immense benefits to both countries as well as the entire globe.
According to Sylva, “it is in the interests of the global community that there is an alternative supply of gas to Europe. The challenge for us to achieve this feat has been lack of infrastructure and we need funding to develop infrastructure for our gas and we believe that the US can provide that funding.”
He told Granholm that Nigeria has an abundance of natural gas resources that can meet European gas demands, noting that the problem has been access to funding.
He said as part of efforts to boost gas supplies across the astructure for the exploitation of the huge natural gas in Nigeria.African continent, Nigeria has embarked upon the construction of a 600kilometre of the Ajaokuta- Kaduna-Kano (AKK) gas pipeline designed to take gas to Europe via North Africa, and therefore, called on the US to provide the needed funding for infrastructure for the exploitation of the huge natural gas in Nigeria.
“We have access to gas but tarted the AKK gas pipeline project and if we have the required funding we can complete that project in two years”, the minister said, adding that Nigeria has “over 206tcl of natural gas reserve and unproven reserve of 600tcl. We believe that if we target the exploitation of natural gas in Nigeria, we will be able to get up to 600tcl. We need to have the needed funding to develop our gas and the US can provide us with this funding”.access to funding has been the problem. Our desire is to be able to take gas from Nigeria through Algeria to Europe. We have already kick-started the AKK gas pipeline project and if we have the required funding we can complete that project in two years”, the minister said, adding that Nigeria has “over 206tcl of natural gas reserve and unproven reserve of 600tcl. We believe that if we target the exploitation of natural gas in Nigeria, we will be able to get up to 600tcl. We need to have the needed funding to develop our gas and the US can provide us with this funding”.natural gas reserve and unproven reserve of 600tcl. We believe that if we target the exploitation of natural gas in Nigeria, we will be able to get up to 600tcl. We need to have the needed funding to develop our gas and the US can provide us with this funding”.
The minister said the crisis between Russia and Ukraine was a wake-up call to have alternative sources of gas to Europe stressing that in “situations like this, it is always good to have alternatives. It is time to say ‘let’s look forward’.”
On global energy transition, Sylva said for the energy transition programme to be meaningful, the peculiar problems of Africa must be factored into the entire energy transition arrangement.
The minister, an advocate of an African solution to the energy transition programme, said “we have to be given some special considerations. I am excited that the world has started listening to us. I was particularly happy that John Kerry echoed our position when he spoke at a panel session. Inasmuch as we want to be part of the new economy, we cannot move at the same pace. We still have people without clean cooking fuels, so we want to achieve our energy base-load through a multi-prong approach. The reality check is that we cannot move at the same pace. There is a gap between expectations.”
He called on the US to support Nigeria and other African countries in the areas of funding and technology, stressing that it is through such collaborations that the energy transition programme can be ‘fast-tracked’.
Sylva, however, cautioned that such funding and technological support must be made accessible to interested countries.
“We have to work out a structured way to access the funding. We must create that understanding to make the loans accessible. The issue of sovereign guarantee must be removed so that interested countries can easily access the funding,” the minister further stated.
Citing the case of the African Growth Opportunity Act (AGOA), Sylva said since the programme came into force so many years ago, no African country has been able to “successfully key into the project for maximum benefits”.
He said: “It has not been easy for Africa to access AGOA. So, the type of funding we are looking at is the one that Nigeria will be able to access.”
In her remarks, Granholm expressed the readiness of the US to cooperate with Nigeria to develop her renewable energy sector, noting that her government was not against the development of gas or other sources of energy.
She said the US government would be willing to support Nigeria in developing her renewable energy sources, and therefore, called for a coordinated strategy to pin down specific areas of focus where funding and other support would be required.
“Investors are interested in funding renewable energy in Nigeria but they are interested in knowing possible areas of focus. We have to work out a structured way to access the fund”, Granholm said.
In an earlier meeting with the US Assistant Secretary of State, Harry Karman, Sylva expressed Nigeria’s willingness to develop different sources of renewable energy such as wind, solar and hydrogen.
He also spoke about the need to streamline targeted financing, adding that “there must be a framework of accessing the funding.”
Karman, in his remarks, assured the minister of the US government’s readiness to support Nigeria in finding sustainable energy sources for the millions of Nigerians without access to power, adding that “anywhere we can be of support we will.”
He said the US “will be more than happy to help. It is important that we look at countries and what energy mix that will be good for them. It has to be a mix for Nigeria and we have to do a study to determine the renewable energy source that will be good for the country.”
My-ACE China, known as the Mayor of Housing, has won the 2024 Man of the Year. The award was announced by board of trustees of the DMOMA Awards Academy in Port Harcourt at the week.
The organisers also declared his company, the Construction and Housing Mayor Limited as the brand promoter of the year, the third in a row.
The award ceremony which was held at the Arena Event centre in the GRA area of Port Harcourt was attended by several dignitaries in the society.
The organisers led by Dr. Ezebunwo Nyeche (chairman) and Stephen Chidiebere Okoye (Awards organizer) said in a statement that China was picked for his support and impact to small and medium enterprises in Rivers State, his media footsteps and his consistent propagation and promotion of Rivers State.
They noted that China won over 10 prestigious awards in 2024 alone on his track to promote Port Harcourt as a brand destination and Rivers as a peaceful state.
Handing the award to China, the organisers said the Mayor of Housing always comes to the rescue of events that aim to promote Rivers State, saying the DMOMA Awards would be held in two more cities in 2025.
Responding, Mr China said there is need for more sponsorship of talents in Port Harcourt and the Niger Delta, saying what they lacked was support.
“There is more talent in Port Harcourt but there is more support in Lagos to artistes than in Port Harcourt. So, the top talents in Port Harcourt work 10 times harder than those in Lagos to attract sponsorship.”
He also said Nigeria has a treasure base which is Port Harcourt but that the treasure is not oil and gas but talents. He said he was highly elated to win the of Man of the Year Award with his firm winning brand of the year.
In an interview, My-ACE China said he was particularly impressed with the diligence demonstrated by the organisers and the processes they used to pick winners every year.
He also said the victory showed attention paid by the organisers to unveil the personality behind the corporate masquerade, not just focusing on the company. “It actually reaffirms one of my quotes that a brand can only grow as big as the character of the visioner behind it.”
On his plans to help Port Harcourt compete with Lagos, China said 2025 will meet him doing things with the youths of Rivers State to push the Port Harcourt brand in the social media and rally the traditional press to create a positive narrative of Rivers State beyond violence and political negativity.
“The Garden City has not been enjoying the best of media perception for some years now but this is the first time we have a governor committed to non-political bias in doing his work. He does not consider whether you are a member of his party or not before doing what is right. For the first time, we have a true father of the state to all, and he has been diligently following the blueprint that stakeholders developed at the last Rivers Economic and Investment Summit, making sure he is doing it without political cronyism.”
He said his company would be building the biggest estate and the best, the ‘Alesa Sustainable Smart City, to move from brand perception to brand experience so as to move Rivers State to the next level.
He appealed to entrepreneurs not to be carried away by the old perception but to join the new way. “Position yourself because there is going to be a boom. People are rushing into Port Harcourt and new entrants may take the ground. Think expansion not contraction, think investment not divestment. Else, you miss it.”
To fellow estate investors, he admonished them to gear up for regulation. “It is no longer going to be business as usual especially for land peddling and land grabbing. Try to grow up because tangible development is going to take over.
“It is no longer going to be who sells the most land but who develops the most houses. The housing deficit in the land requires effective land development strategies. Any serious land seller should grow into a housing developer because developments are going to be coming into Rivers State and a lot of people are coming into the state.”
He said those that have grown to be developers will be many times richer than those that are just starting or are mere land sellers and peddlers. People should also position themselves because all the foreign investments and local ones will take advantage of this influx.
“The value of influx is coming, so prepare and take advantage. Be one of those that are big enough to take advantage. Remaining small will not be good but grow big in your products, in your services, because the market is going to grow big.”
Rivers State Governor, Sir Siminalayi Fubara, has expressed shock and sadness over the death of a former military governor of the State, Major-General Godwin Osagie Abbe (rtd).
Late Abbe, who hails from Edo State, was military governor of Rivers State between August, 1990 and January, 1992.
Governor Fubara described late Gen Abbe as one leader who dedicated himself to the service and wellbeing of Rivers people and humanity during his administration in the State, saying that the death of the distinguished military officer, politician and administrator was a very huge loss to the State, the Niger Delta, and indeed, the entire country, having traversed the length and breath of the nation in the cause of his military and political careers.
“On behalf of my family, the Government and good people of Rivers State, I condole with the family of the Abbes, the Edo people, and the Nigerian military on the demise of this colossus, whose contributions to the unity, peace and development of the nation are legendary.
“While we mourn his painful exit at this difficult time, we pray for the eternal repose of his soul, and urge the family to take solace in the fact that late Gen Abbe lived a fulfilled life in the service of his fatherland.”
Wife of Rivers State Governor, Lady Valerie Siminalayi Fubara, has noted with delight that Rivers children are well behaved, and has admonished them to remain supportive of their parents while striving always to make a difference wherever they find themselves.
Lady Fubara gave the counsel at the 2024 Christmas Children Party, attended by children from the 23 Local Government Areas of the State, including non-indigenes, at Government House in Port Harcourt on Thursday.
The Christmas Children Party also witnessed the presence of Governor Siminalayi Fubara, who stopped over to share moments with them, walking from one canopy to another, waving at them, and at other times, shaking hands with them to leave lasting memories on them.
The Rivers First Lady pointed to the importance of the celebration of Christmas, which draws attention to the birth of Jesus Christ, demanding that people have a deep reflection of the love that is demonstrated and mission of the birth, which is to redeem mankind.
Lady Fubara recalled how she took out time to visit the University of Port Harcourt Teaching Hospital and the Rivers State University Teaching Hospital, where she appreciated God for safe delivery of children born on Christmas day while felicitating with the nursing mothers.
She also stated the valuable time spent with motherless babies when she visited the Port Harcourt Children’s Home in Borikiri, old Port Harcourt Township, and celebrated their meekness, innocence and the beauty they bring to the world.
She said, “Even today, as we continue the celebration, efforts were made to extend invitation to our children in all the 23 local government areas of our State. In doing this, children from all classes of society, including the physically challenged, have been offered the opportunity to sit together as brothers and sisters, play, eat and dance.
“Whilst contemplating the uniqueness of celebrating Christmas on a Boxing Day, steps were equally taken to provide gifts for the children who are there, and also to pray for them, a qualitative fun session that will last in their memories.”
Lady Fubara advised all children in the State to remember that Jesus came into the world to make a difference, advising that they must emulate him so that they can positively impact their families and society.
She urged them to pray fervently to God to bless and prosper their mothers, daddies, aunties and uncles to better cater to their needs.
She added, “Be humble, obedient and supportive at home. Do household chores, and don’t forget to make excellent grades in school next academic session. Children are the joy of every home, and we are glad to have beautiful, well-behaved children in Rivers State.
“Thank you all for witnessing this 2024 Children’s Party, and I pray God Almighty to protect, shield and keep you safe from all negative companies in the name of Jesus. I wish you a Merry Christmas and a Prosperous 2025. God bless you all,” she said.
Lady Fubara expressed appreciation to her husband and Governor of Rivers State, Sir Siminalayi Fubara, for his absolute commitment to the growth of children, and the immeasurable support that ensured that Christmas Children Party was a success.
There were performances by Virtue Dancers, Kalabari Iria dancers, Wonder Time Children of Opobo Kingdom, Children of Rivers State Council of Arts and Culture, Diseye the Poet and DJ Arnold.