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Global Economy: Hydrogen Market Growth To Surge In 2023 

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2 years ago

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Hydrogen development, given its application across various industries, is indispensable to attaining energy transition, meeting decarbonization goals, and positioning leading companies as market experts.
In 2022, green hydrogen production capacity reached over 109 kilo tons per annum (ktpa) worldwide, representing 44% growth compared to 2021, says GlobalData, a leading data and analytics company.
GlobalData’s recent publication “Hydrogen Transition Outlook and Trends: Q1 2023,” highlights deals, trends, and investments as useful benchmarks to identify those leading companies driving the hydrogen market growth.
Andres Angulo, Energy Analyst at GlobalData, comments: “During 2022, over 393 deals related to hydrogen were closed, representing a significant increase compared to 277 deals registered in 2021.
“This shows an upward trend in the low-carbon hydrogen market development, which could be decisive in achieving over 111 million tons per annum (mtpa) capacity worldwide by 2030.
“However, the partnerships represented 66% of the deals last year, and the number of deals decreased after Q2 2022 to numbers even below those seen in the same quarter in 2021.
“This could have been due to the companies trying to strengthen their core business and diversify the investment risk given the global economic situation”.
Despite the high number of partnerships formed between companies as compared to government agencies, investing and raising capital were of the utmost importance to developing the hydrogen economy in 2022.
“Last year, mergers and acquisitions (M&A) deals reached $24.4 billion in monetary value, representing a 288% increase compared to 2021 levels.
“On the other hand, venture finance deal values also grew from $595.23 million to over $3,001.1 million.
In 2022, over 111.9 mtpa low-carbon hydrogen capacity was announced in the US, Denmark, Egypt, Canada, Portugal, and other countries.
“In Canada, Green Hydrogen International (GHI) announced two important green hydrogen projects as a sole participant, with 43 mtpa capacity each, which are expected to begin production in 2030.
Some other companies took part in multiple project investments globally to diversify their risk, including Fortescue Industries, which has two-thirds of its capacity outside its home country, Australia.
Companies like GHI, Suez Canal Economic Zone, New and Renewable Energy Authority, Sovereign Fund of Egypt, and Egyptian Electricity Transmission Co are the global leaders in low-carbon hydrogen, with 56.3 mtpa active and upcoming capacity combined.
As part of developing low-carbon hydrogen, and with electrolysis being a key technology to produce green, an electrolysis capacity of over 1,065 GW is now in pipeline.
“This is mainly being produced by manufacturing companies such as Hydrogenics, Nel ASA, ThyssenKrupp, ITM Power, HydrogenPro, Enapter and Plug Power.
During last year, as the hydrogen economy raised, companies like Globeleq Africa, Linde, John Wood Group, ThyssenKrupp, H2-Industries, Alcazar energy, and Samsung Engineering took advantage of the growing demand for hydrogen capacity and became the Engineering, Procurement & Construction (EPC) leaders for green projects.

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NIMASA Commits To Creating Enabling Environment For Maritime Business 

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6 days ago

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March 5, 2025

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The Nigerian Maritime Administration and Safety Agency (NIMASA) has affirmed that it is taking strategic steps to enhance local participation and encourage investment in the maritime sector under the supervision of the Ministry of Marine and Blue Economy.
The Director General of NIMASA, Dr. Dayo Mobereola, who disclosed this recently while receiving the Executive Members of the Nigerian Merchant Navy Officers and Water Transport Senior Staff Association, reaffirmed the Agency’s  commitment to fostering a level playing field and creating an enabling environment for businesses in Nigeria’s maritime sector.
Dr. Mobereola revealed that NIMASA is deepening its collaboration with the Nigerian Content Development and Monitoring Board (NCDMB) to explore policies that will boost indigenous involvement and strengthen Nigeria’s maritime sector.
“The Honourable Minister of Marine and Blue Economy is committed to encouraging indigenous players to invest more in Nigeria’s maritime industry. Issues such as national carriers and trade terms remain top priorities under this administration.
“Our focus is to create an enabling environment where private investors can thrive. In this regard, we have initiated discussions with the NCDMB and NNPC Limited to address these critical matters”, he stated.
He said NIMASA remains committed to fostering strategic partnerships that will enhance local investment, create jobs, and drive sustainable growth in the maritime sector.
In response, Comrade John Aleakhue Okpono, Secretary General of the Merchant Navy Officers and Water Transport Senior Staff Association, emphasized the need for closer collaboration between NIMASA and the Merchant Navy.
He also urged the Agency to review waiver clauses to ensure more opportunities for Nigerian seafarers.
Stories by Nkpemenyie Mcdominic, Lagos
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FG Inaugurates Special Committee Against Boat Accident 

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6 days ago

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March 5, 2025

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Towards enhancing safety on Nigeria’s inland waterways, the Federal Government, through the Minister of Marine and Blue Economy, Adegboyega Oyetola, has inaugurated a Special Committee on the Prevention of Boat Mishaps in Nigeria.
According to a statement on by the spokesman, National Inland Waterways Authority (NIWA), Suleiman Makama, the event, which was held at the Ministry’s Conference Room in Abuja, confirmed crucial steps taken to address the recurring challenges of boat accidents across the country.
In his address, the Honourable Minister emphasized the urgent need to stem the tide of tragic boat mishaps, which have resulted in significant loss of lives and properties.
He described the country’s waterways as vital to commerce, transportation, and livelihoods, stressing that their safety and efficiency are paramount to the development of Nigeria’s blue economy.
He noted that the establishment of this committee aligns with the 2024 International World Maritime Day theme, “Navigating the Future: Safety First”.
“The task before us is daunting, but with unwavering commitment, we can eliminate boat mishaps and ensure that our waterways remain safe, navigable, and prosperous for generations to come”, Oyetola stated.
The committee comprises key stakeholders, including state government representatives, the Association of Boat Operators in Nigeria, marine safety experts, and academics.
It will be chaired by the Managing Director of the National Inland Waterways Authority (NIWA), Mr. Bola Oyebamiji, while Mr. Adams Offie, Deputy Director of Inland Waterways at the Ministry, will serve as Secretary.
The committee is tasked with conducting an in-depth review of commercial boat operations in Nigeria, identifying the root causes of boat mishaps, and proposing sustainable solutions.
In his acceptance speech on behalf of the committee, Oyebamiji assured the Minister on the dedication of members to deliver on the assignment.
He emphasized that safety on Nigeria’s inland waterways is non-negotiable, adding that NIWA, under the leadership of the Honourable Minister, has been refocused to uphold its mandate without compromise.
Acknowledging the Honourable Minister of Marine and Blue Economy for his proactive leadership, Oyebamiji noted that the establishment of the committee represents a critical step in addressing the persistent safety challenges in inland water transport.
“This is another solution-driven initiative aimed at eliminating boat mishaps on our waterways. I assure you that the confidence reposed in this committee will not be misplaced.
“At NIWA, this is an opportunity for us to intensify our efforts in reducing marine accidents to the barest minimum. On behalf of my fellow committee members, we pledge to work diligently and with utmost focus on the assigned terms of reference.
“Safety on our inland waterways is non-negotiable. NIWA has been refocused to ensure the highest safety standards, and this committee will work diligently to address the causes of boat mishaps and find lasting solutions,” Oyebamiji said.
The committee has been tasked with evaluating the root causes of boat accidents and recommending lasting solutions to enhance safety and operational standards.
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LASG Arrests Illegal Dredgers  … Issues Stop Work Order

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6 days ago

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March 5, 2025

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The Lagos State Government, through the Ministry of Waterfront Infrastructure Development, has launched a massive clampdown on illegal dredgers operating in the State, ordering them to stop work immediately.
This exercise, which was carried out by the officials of the Ministry of Waterfront Infrastructure Development, is aimed at curbing environmental degradation and promoting sustainable development across the waterfront schemes located across the coastal regions of the metropolis.
According to a statement, the enforcement operation, led by the Commissioner for Waterfront Infrastructure Development, Hon. Ekundayo Alebiosu, alongside members of his team, raided several illegal dredging sites which were subsequently shut down by the officials of the Ministry.
Some suspected dredging operators were arrested and a stop-work order was served on erring dredgers for non-compliance with laid-down regulations of the State Government.
Alebiosu warned the operators that failure to comply with extant laws guiding dredging activities could have dire effects and will result in severe penalties, including total closure of the sites.
Reacting to the claim that Dredgers are the major cause of environmental degradation in the state, including erosion and flooding, the Commissioner emphasised the need for dredging activities to be conducted lawfully to preserve roads, public infrastructure, and wetlands.
He explained that the State Government has vowed to streamline the activities of dredgers in the state to meet acceptable international standards.
“The Lagos State Government’s clampdown on illegal dredgers is a significant step towards protecting the environment and promoting sustainable development in the state.
“We will continue to carry out surveillance and raids across the coastal areas to ensure that the activities of a few don’t impact the lives of law-abiding citizens negatively”, Alebiosu stated.
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