Japanese Ambassador Advises Nigerian Youth to Seek Self Dev’t

Michael Olugbode in Abuja

The Japanese Ambassador to Nigeria, Suzuki Hideo, has encouraged the Nigerian youth to seek self development, insisting that: “The future of Nigeria lies in its youth, and their ability to engage with the world is crucial.”

Speaking at the weekend during the handover of books donated by the Tokyo Foundation with the generous support of the Nippon Foundation to University of Maiduguri (UNIMAID) in Abuja, the envoy told the delegation from the university that: “We believe that books are powerful tools for learning and discovery, and we are honoured to contribute to the excellent academic resources at your university.”

The ambassador, while stating that the significant collection of 183 books made possible through the visionary ‘Read Japan Project,’ an initiative of the Tokyo Foundation with the generous support of the Nippon Foundation, was in recognition of “our deep and growing partnership with the University of Maiduguri”.

He said: “Our greatest hope is that this diverse collection will spark even deeper interest in Japan among your bright and inquisitive students. The future of Nigeria lies in its youth, and their ability to engage with the world is crucial. Japan has a rich history of overcoming challenges to achieve progress, and we hope the insights within these pages can be a valuable resource.

“We look forward to our continued collaboration with the University of Maiduguri and look forward to witnessing the great things your students will achieve.”

On his part, the Honorary Chair, The Nippon Foundation, Yohei Sasakawa, said: “We are pleased to donate books that will help promote understanding about Japan to University of Maiduguri. We would also like to thank all of you who cooperated with us in making this donation possible.”

Sasakawa, whose speech was read by Ms. Shimada Mami, said: “At the University of Maiduguri, we understand that the promotion of Japanese culture has been steadily advancing, notably through the establishment of the Japanese cultural club.

“We deeply respect the university’s efforts to foster greater understanding and interest in Japan among students and faculty, and we are truly pleased that such initiatives are helping to further strengthen mutual understanding and friendly relations between our two countries.

“The Nippon Foundation is promoting the Read Japan Project in the hope of providing quality information about Japan to those who are interested in Japan. To date, we have donated around 98,000 books to more than 1,400 libraries and research institutions in 150 countries all over the world. We are pleased to have University of Maiduguri join this group of recipients today.

“The Nippon Foundation will further expand the selection of books we donate so that we can satisfy the intellectual curiosity of those interested in Japan. It will please us very much if young and aspiring individuals in Nigeria will make the best use of these books not only to deepen their interest in and understanding of Japan, but also to serve as a bridge between our two countries.”

The Vice-Chancellor of the university, Prof. Mohammed Mele, while taking custody of the books, expressed appreciation to the Nippon Foundation for its extraordinary generosity and to the Embassy of Japan in Nigeria

According to him, “This collection of books on Japanese culture, history and innovation will open new doors of understanding and discovery for our students, and will inspire them to engage with the world in new and meaningful ways.

“This donation signifies the deepening partnership between the University of Maiduguri and Japan. We are committed to building on this to further our collaboration. To that end, I am pleased to announce that we will soon create a dedicated Japanese Corner in the Ramat Library.”

He noted that with the establishment of the Japanese Culture Club (NJCC) in the university, the vibrant interest of the students in the Japanese language, culture and traditions, which is a powerful sign of the bridges being built between the two cultures, has grown. 

He said: “This donation will undoubtedly fuel their passion and curiosity for years to come.”

He assured the audience that the institution is  committed to making the most of these resources and look forward to a long and fruitful partnership.

The post Japanese Ambassador Advises Nigerian Youth to Seek Self Dev’t appeared first on THISDAYLIVE.

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    NUPRC Approves 94 Decommissioning, Abandonment Plans, Total FDP Liabilities Hit $4.4bn in Two Years

    NUPRC Approves 94 Decommissioning, Abandonment Plans, Total FDP Liabilities Hit $4.4bn in Two Years

    •Secures over $400m in pre-sale obligations 

    •Commission vows to ensure safeguarded divestment, smooth assets sale transition 

    •Compliance with industry audits mandatory, says NEITI

    Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday disclosed that it has approved 94 Decommissioning and Abandonment (D&A) plans since April 2023, representing total liabilities of $4.424 billion, arising from all Field Development Plans (FDPs) submitted within this period.

    The commission stated that this was done in strict alignment with the Petroleum Industry Act (PIA) 2021, explaining that these liabilities would be remitted progressively over the production life of the respective fields into designated escrow accounts.

    The Chief Executive of the commission, Gbenga Komolafe, who made the disclosure during his remarks at the Nigerian Extractive Industries Transparency Initiative (NEITI) Companies Forum in Lagos, explained that over $400 million in decommissioning liabilities had already been secured by the organisation.

    Maintaining that the NUPRC under him was setting stricter rules for recent asset transfers, Komolafe who was represented by the Deputy Director, Human Resources, Corporate Services & Administration, Efemona Bassey, noted that Nigeria was applying lessons from costly global divestment cases to safeguard its oil and gas sector.

    Komolafe spoke on the theme: “Divestments, Liabilities, and the Impact of Ongoing Reforms on Extractive Companies in Nigeria,” a statement in Abuja by NUPRC’s Head of Media and Strategic Communications, Eniola Akinkuotu stated.

    The NUPRC chief said the commission had drawn lessons of divestments from the North Sea, where decommissioning was estimated at £27 billion by 2032; the Gulf of Mexico costing over $9 billion and in Canada’s Alberta, where more than 97,000 inactive or abandoned wells now carry an estimated decommissioning and abandonment cost of between C$30 billion and C$70 billion.

    In Australia, Komolafe stated that Northern Oil & Gas Australia in 2019 left behind liabilities of more than AU$200 million.

    He stated that the lessons from these experiences guided the recent divestment approvals from NAOC to Oando Energy Resources; Equinor to Chappal Energies; Mobil Producing Nigeria Unlimited to Seplat Energies; SPDC to Renaissance Africa Energy; and TotalEnergies to Telema Energies.

    He added: “Without a robust and enforceable framework for abandonment and decommissioning, divestment transitions can create lasting financial and environmental burdens.

    “Nigeria is not immune to this challenge, and if we are to avert costly mistakes. It is precisely to avoid this outcome that Nigeria, through the Petroleum Industry Act and subsequent regulatory actions, has taken bold and decisive steps.”

    The NUPRC boss highlighted Nigeria’s response to the recent divestments in line with Sections 232 and 233 of the PIA which place full responsibility for the decommissioning and abandonment of petroleum wells, installations, structures, utilities, plants, and pipelines on licensees and lessees.

    According to him, each of the 2024 divestments provided a critical opportunity to put the commission’s divestment framework to test and action, rigorously assessing the technical capacity of acquiring entities, verifying their financial strength, and securing decommissioning and abandonment obligations through upfront escrow arrangements.

    Komolafe said, “The results from 2024 speak for themselves. Over $400 million in pre-sale decommissioning and abandonment liabilities have been secured through Letters of Credit and escrow accounts. Host Community Development Trust (HCDT) obligations are fully honoured. Environmental remediation commitments worth over $9.2 million have been pledged while awaiting the formal gazetting of the ERF regulations.”

    The CCE said beyond the significant progress achieved through the divestment framework, it was important to highlight another milestone.

    “Since April 2023, we have approved 94 D&A plans, in strict alignment with the PIA. These approvals represent total liabilities of $4.424 billion, arising from all Field Development Plans submitted within this period, and will be remitted progressively over the production life of the respective fields into designated escrow accounts,” he added.

    He further disclosed that the commission has addressed a long-standing concern with the International Oil Companies (IOCs) regarding the domiciliation of the escrow accounts; and the regulatory framework, developed after extensive consultations with industry stakeholders, is now awaiting gazetting by the Ministry of Justice.

     In addition to divestments, the commission, he said, has been working with operators on life extension projects, ranging from facility integrity audits to subsea upgrades and enhanced reservoir management measures that sustain safe production, delay decommissioning, and reduce environmental risks.

    Also at the forum, NEITI reaffirmed that compliance with its mandatory industry audit process is not optional but a legal obligation for all companies operating in Nigeria’s extractive industries.

    Speaking at the opening session, the Executive Secretary of NEITI, Dr. Ogbonnaya Orji, stressed that transparency and accountability are not only national requirements but also critical pillars for building investor confidence, strengthening citizens’ trust, and aligning Nigeria’s extractive practices with global standards.

    Orji explained that compliance with NEITI’s audit process underpins efforts to improve Nigeria’s business environment and attract sustainable international investments, a statement by the organisation’s Director of Communication & Stakeholders Management, Obiageli Onuorah, noted

    He noted that the NEITI companies forum had become a strategic platform for forging closer partnerships with companies in the oil, gas, and mining sectors, focusing on: data disclosure on company payments and beneficial ownership transparency.

    Besides, Orji listed contract transparency; sub-national fiscal sustainability as well as climate change, and multi-stakeholder collaboration as some of the reasons for the platform.

    He announced that work on the 2024 NEITI Industry Reports had already commenced and will be concluded before the end of the year, urging companies to ensure full and timely compliance to meet reporting deadlines.

    Also, the Chairman of the NEITI Companies Forum, Mr. Gwueke Ajaifia, described the proliferation of demands for data and payments from multiple agencies as a key factor frustrating the business environment. He called on NEITI to escalate the matter to the federal government.

    The President of the Miners Association of Nigeria and Deputy Chairman of the Forum, Mr. Dele Ayanleke, commended NEITI for establishing the Companies Forum and urged the agency to leverage its multi-stakeholder framework and international affiliations to ensure that the industry’s concerns are promptly addressed to restore investors’ confidence.

    The post NUPRC Approves 94 Decommissioning, Abandonment Plans, Total FDP Liabilities Hit $4.4bn in Two Years appeared first on THISDAYLIVE.

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    •Secures over $400m in pre-sale obligations  •Commission vows to ensure safeguarded divestment, smooth assets sale transition  •Compliance with industry audits mandatory, says NEITI Emmanuel Addeh in Abuja and Peter Uzoho
    The post NUPRC Approves 94 Decommissioning, Abandonment Plans, Total FDP Liabilities Hit $4.4bn in Two Years appeared first on THISDAYLIVE.

    UK Finance Institution, Firm Launch Facility to Advance Mini-grid Use in Nigeria

    UK Finance Institution, Firm Launch Facility to Advance Mini-grid Use in Nigeria

    Emmanuel Addeh in Abuja

    British International Investment (BII), the UK’s development finance institution and impact investor, and Odyssey Energy Solutions, a technology company accelerating distributed energy in emerging markets, have launched a new financing facility to support the rollout of electricity mini-grids for families and businesses across Nigeria.

    With $7.5 million funding from BII, the facility leverages Odyssey’s proprietary procurement platform and supply chain credit solution to support mini-grid developers, a statement in Abuja said.

    The finance will be deployed to support Nigeria’s Distributed Access through Renewable Energy Scale-Up (DARES) programme backed by the World Bank, which aims to improve energy access for 17.5 million Nigerians.

    Specifically, Odyssey works to bridge the gap between commitment and disbursement of DARES connections-based subsidies by addressing the financing bottleneck of upfront costs such as acquiring equipment and import duties.

    Through this offering, developers can procure high-quality solar and energy storage equipment with minimal upfront capital, paying back as projects reach revenue-generating milestones, the statement added.

    This provides some key benefits for Nigerian solar companies including: Competitive pricing through aggregated procurement; flexible payments, improving working capital; faster procurement cycles, accelerating deployment timelines; end-to-end logistics support, from customs to last-mile delivery and high-quality, vetted equipment, ensuring system reliability.

    The new facility comes at a critical time, as Nigeria ramps up its mini-grid ambitions under the DARES programme, backed by the World Bank. With DARES endeavouring to improve energy access for 17.5 million Nigerians, the demand for streamlined procurement and innovative financing is more urgent than ever, it said.

    The new facility, it said, has the potential of scaling up to meet the demand generated by the  programme by partnering with a growing network of qualified developers and suppliers to accelerate project execution and reduce time to electrification.

    British Deputy High Commissioner, Lagos,  Jonny Baxter, said: “British International Investment (BII) has demonstrated its confidence in Nigeria’s clean energy sector through its strategic investments. This is a signal that opportunities for the private sector to drive forward the renewable energy revolution in Nigeria and across Africa are growing.

     “UK finance is playing a pivotal role- helping to unlock green growth and establish Britain as a credible global partner on climate action in line with our Enhanced Trade and Investment Partnership (ETIP) with Nigeria.”

    West Africa Regional Director at BII, Benson Adenuga, said: “About 90 million people in Nigeria do not have access to electricity. Mini-Grids powered by clean and affordable energy sources have a vital role to play in rapidly reducing that number. I am delighted that BII is partnering with Odyssey to accelerate the development of such projects.”

    Also, Piyush Mathur, Co-Founder and Managing Director of Odyssey Energy Solutions, said: “BII has demonstrated a progressive and practical approach to unlocking financing challenges in distributed energy.

     “Their support allows us to offer flexible, affordable financing options that meet developers where they are, so that we can collectively accelerate electrification across Nigeria.”

    With more than 3,000 installers and over $3 billion of available finance on the platform, Odyssey Procurement is the latest addition to Odyssey’s end-to-end platform, built to rapidly accelerate the clean energy transition in emerging markets.

    By integrating procurement, financing and monitoring into a single solution, Odyssey streamlines the solar project lifecycle—enabling companies to scale more quickly, operate efficiently, and deliver clean energy faster than ever before.

    The post UK Finance Institution, Firm Launch Facility to Advance Mini-grid Use in Nigeria appeared first on THISDAYLIVE.

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    Emmanuel Addeh in Abuja British International Investment (BII), the UK’s development finance institution and impact investor, and Odyssey Energy Solutions, a technology company accelerating distributed energy in emerging markets, have
    The post UK Finance Institution, Firm Launch Facility to Advance Mini-grid Use in Nigeria appeared first on THISDAYLIVE.

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