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Nigerians Told To Embrace Alternative Fuels To Cushion Current Global Energy Crisis

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Prof. Akin Abayomi, the Lagos State Commissioner of Health

Olushola Okunlade Writes

As the nations of the world initiate transition from fossil fuel to renewable energy to mitigate the current global energy crises, Nigerians have been told to embrace the alternative source of energy that is sustainable.

Lagos State Commissioner for Health, Prof. Akin Abayomi who made the call also challenged the churches in Nigeria to use their pulpit to drive advocacy on the need for a sustainable lifestyle. He threw the challenge during an interview on the sideline of a one-day Conference in Lagos on “Journeying and Listening Together: Energy Crisis and Sustainable Lifestyle for Church and State” which was organized by the Ecology Work Group of the Catholic Archdiocese of Lagos

He said the church needs to become more actively involved in the gospel of a sustainable lifestyle that can bring peace to the environment and guarantee an abundance of food and healthy energy. Pls get involved with practical initiatives in environmental preservation”, Prof Abayomi told the participants which include the leadership and members of the Catholic church in Lagos led by the Lagos Archbishop Dr. Alfred Adewole Martin.

The Commissioner stated that the church has enormous influence on the people and that it is high time the church lead advocacy for the Alternative sources of energy geared towards replacing fossil fuels. Such alternative energy, according to him included Solar Power; Wind Energy; Hydro Energy; Biomass Energy; Tidal Energy, and Geothermal Energy.

Prof. Akin Abayomi, the Lagos State Commissioner of Health
Prof. Akin Abayomi, Lagos State Commissioner of Health.

Earlier in his paper titled “Global Energy and Environmental Crisis”, Prof. Akin Abayomi, the Lagos State Commissioner of Health, who is the Guest Speaker said the energy crisis around the world has led to a concern that the world’s demands on the limited natural resources that are used to power industrial society are diminishing as the demand rises.

The environmental and economic effects of the situation, he highlighted are the increase in the energy and electricity costs with gas prices rising by about 47%; an increase in the cost of doing business; unemployment; global warming, etc.

Prof Abayomi then listed as mitigating equity and global stability, factors such as Overpopulation; War and attacks; wastage; aging energy infrastructure; inequitable overconsumption, and unexplored renewable energy.

While calling for joint action in Africa, he disclosed that Africa contributes 4% of the global carbon dioxide yet is most affected by climate change as half of every 10 countries affected by extreme weather in 2019 are from Africa.

He said the rising cost of energy is driving the use of alternative energy and that Africa is in a terrible situation as 90 per cent of the WestAfrica forest cover has been lost in the last 100 years and Nigeria alone loses 350,000 hectares to destruction yearly.

Also speaking, the Archbishop of Lagos, Rev Martin lamented that many activities have given rise to climate change the consequences of which are now staring the society in the face. He stated that the climate change has manifested itself in varied and unprecedented ways such as heat waves that have led to the uncontrolled forest fires devastating huge swathes of land; progressing desertification; rising sea levels leading to the destructive floods and landslides; chemical and technological pollution leading to depletion of biodiversity and destruction of the ecosystem.

“We are faced with the results of our collective and individual lifestyles and habits that lead to depletion of species of animals and plants and the pollution of the earth, turning it into what the Pope calls a pile of filth”, the clergy noted.

According to him, the conference was the church’s response to the call by Pope Francis some seven years ago when he released his encyclical LAUDATO SI translated to Care for our home. “the document centered on the care for the earth, our common home, environmental pollution challenges and the persistent poverty facing the world.”

Regrettably, Rev. Martins said as the Covid-19 pandemic begins to alleviate, the world is faced with other crises which have local and global dimensions, i.e the energy crisis and the looming food crisis, the impact of which would be huge and unimaginable if necessary steps are not taken and quickly too.

“Should we as a church not be concerned? Should we as a people not worry? We should all be and that is why I hope this conference will provide the platform for strategizing together on what must be done in order to heed the cry of the earth and the cry of the poor”, he stressed.

Buttressing the need for urgent lifestyle changes in the environment is a concern, Prof Abayomi said Lagos is one of the six world cities that are heavily polluted through air pollution, Water pollution, and exposure to lead. He mentioned other cities like Los Angeles, New Delhi, Beijing, London, and Santiago

To address the environmental challenges, he disclosed that Lagos is committed to improving air quality and that should Lagos achieve the target set by the World Health Organisation (WHO), it could prevent 2,800 deaths and 155,000 hospitalizations, reduce 2,300 asthma incidences and save up to $2.3billion annually.

Prescribing solutions to the environmental challenges, he urged the church to be actively involved and use the pulpit to drive advocacy on the need for a sustainable lifestyle. The church he advised should go practical and preach a sustainable lifestyle; going green, reforestation, and preservation of life.

Contributing to the discussion, Dean, Lagos Island Deanery, Rev Father Julius Olaitan, pointed out that there was the need for a dialogue with nature and dialogue with man to resolve the crisis in the environment.

He said there is the need to bring the entire human family together for enlightenment and to see a sustainable lifestyle. Drawing from his experience as parish priest, Rev Olaitan enumerated steps they had taken as a church to reconcile with the environment. Such steps he listed as “Conserving the energy; Use of energy-saving equipment; good maintenance culture; control of scavengers who litter the environment; Reduce reuse and Recycle because concern for the environment is also a concern for life.

In her remark of welcome earlier, Dame Marie Fatayi-Williams, the Coordinator of the Ecology Work Group, gave the rationale behind the conference as part of the efforts of the group to encourage and promote an environmental-friendly lifestyle.

She said the Conference would also help aggregate steps to and mode of execution of activities that will promote healthy living with the environment which apart from human needs is also an instruction from God who is the creator of the earth and the man that lives on the earth.  

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Growing Energy Demand Presents Huge Business Opportunities For Seplat, Others – McKinsey & Company

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Growing Energy Demand Presents Huge Business Opportunities For Seplat, Others – McKinsey & Company

…’ Seplat Energy has an enormous chance to explore renewable energy solutions’

… Divestment opportunities abound for Seplat Energy, others

Olushola Okunlade Writes

Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, as well as other energy producers in Africa, is projected to grow more given the rising demand for energy in Africa. Africa’s energy demand is also expected to see increased growth over the decade amidst current realities.

Global management consulting firm, McKinsey & Company disclosed this at the Seplat Industry Lecture and Dr. ABC Orjiako send forth event held in Lagos at the weekend.

Growing Energy Demand Presents Huge Business Opportunities For Seplat, Others – McKinsey & Company

“There will be rising demand for fossil fuels in Africa driven by industrialization and population growth. Energy demand growth will be led by Nigeria, and this will create tailwinds for energy suppliers like Seplat Energy,” Oliver Onyekweli, Associate Partner and Co-Lead of West Africa Oil and Gas Practice, McKinsey & Company, said whilst making a presentation on the theme of the Lecture dubbed “The Future of African Oil & Gas: Positioning for the Energy Transition”.

“Africa’s growing energy demand also creates opportunities for Seplat to explore renewable energy solutions (e.g. solar, blue hydrogen),” he added.

Decarbonizing production and cost leadership, McKinsey explained, will be key going forward as capital providers continue to reduce exposure to oil and gas, with customers preferencing lower carbon shipments. Decarbonization of assets to the greatest possible extent, it added, will be needed to maintain “license to operate” and maintain access to capital at attractive rates. “As global oil demand peaks, maintaining cost leadership ($/bbl) will be increasingly vital.”

Indigenous producers will define the future of African oil and gas, as IOCs will continue to face pressure to reduce carbon-intensive operations and lower the cost of production, according to McKinsey, which also maintained that divestment is likely to continue.

“Companies like Seplat Energy are well-positioned to pick up producing assets going forward, provided they can maintain operational excellence. Ensuring continued access to talent will be key,” it added.

Growing Energy Demand Presents Huge Business Opportunities For Seplat, Others – McKinsey & Company

McKinsey further explained that “African energy infrastructure is a compelling opportunity. As the energy transition accelerates, gas will become more prominent as a “transition fuel”, especially in Nigeria. Significant domestic gas demand is a positive tailwind for Seplat Energy’s ANOH project and gas’ cleaner carbon profile (relative to diesel) should make gas projects easier to finance (can be paired with LPG). Investing in gas export infrastructure (e.g. FLNG) could create an opportunity to access high-value international spot market.”

Dr. ABC Orjiako, the Pioneer and immediate past Chairman of Seplat Energy, lauded all the company’s stakeholders for the huge successes recorded so far in the company since its inception, saying they were products of hard work, sleepless nights, and resilience.

Commending all stakeholders of Seplat Energy for the great achievements recorded so far, the Chairman, Seplat Energy, Mr. Basil Omiyi, said the year 2022 marks a major turning point for Seplat Energy as Dr. Orjiako retires from the Board after leading the Company to achieve monumental milestones over the last 13 years, including 9 years as a listed entity.

Notable amongst the achievements he listed were, the IPO vision, the listing, production growth, reserve addition, corporate governance, landmark acquisitions, funding strategy, and setting the stage for corporate transformation, amongst others.

In his remarks, the CEO of Seplat Energy, Mr. Roger Brown, said  Dr. Orjiako drove Seplat Energy’s long-term imperative with regards to global transition away from fossil fuels towards cleaner and renewable energies, advocating a Just Transition, which is to be conducted at an appropriate pace.

That, according to Brown, was why, the Board under Dr. Orjiako decided to re-brand the Company as Seplat Energy, which is a signal of “our intent and how we see our future”.

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Global Energy Crisis Shows Urgency Of Accelerating Investment In Cheaper And cleaner Energy In Africa

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Global Energy Crisis Shows Urgency Of Accelerating Investment In Cheaper And cleaner energy in Africa

Olushola Okunlade Writes

Today’s crippling spikes in energy prices underscore the urgency and the benefits for African countries of accelerating the scale-up of cheaper and cleaner sources of energy, the IEA says in a new special report released last week.

Russia’s invasion of Ukraine has sent food, energy, and other commodity prices soaring, increasing the strains on African economies already hard hit by the Covid-19 pandemic. The overlapping crises are affecting many parts of Africa’s energy systems, including reversing positive trends in improving access to modern energy, with 25 million more people in Africa living without electricity today compared with before the pandemic, according to the Africa Energy Outlook 2022.

At the same time, Africa is also already facing more severe effects from climate change than most other parts of the world – including massive droughts – despite bearing the least responsibility for the problem. Africa accounts for less than 3% of the world’s energy-related CO2 emissions to date and has the lowest emissions per capita of any region.

Despite these challenges, the report finds that the global clean energy transition holds new promise for Africa’s economic and social development, with solar, other renewables, and emerging areas such as critical minerals and green hydrogen offering strong growth potential if managed well. Increased international ambitions for cutting emissions are helping set a new course for the global energy sector amid declining clean technology costs and shifting global investment patterns. African countries are poised to benefit from these trends and attract increasing flows of climate finance.

“Africa has had the raw end of the deal from the fossil fuel-based economy, receiving the smallest benefits and the biggest drawbacks, as underlined by the current energy crisis,” said Fatih Birol, the IEA Executive Director. “The new global energy economy that is emerging offers a more hopeful future for Africa, with huge potential for solar and other renewables to power its development – and new industrial opportunities in critical minerals and green hydrogen.”

“The immediate and absolute priority for Africa and the international community is to bring modern and affordable energy to all Africans – and our new report shows this can be achieved by the end of this decade through the annual investment of $25 billion, the same amount needed to build just one new LNG terminal a year,” Dr. Birol added. “It is morally unacceptable that the ongoing injustice of energy poverty in Africa isn’t being resolved when it is so clearly well within our means to do so.”

The Africa Energy Outlook 2022 explores a Sustainable Africa Scenario in which all African energy-related development goals are achieved on time and in full. This includes universal access to modern energy services by 2030 and the full implementation of all African climate pledges.

With demand for energy services in Africa set to grow rapidly, ensuring affordability is an urgent priority. Increased energy efficiency is essential for this, since it reduces fuel imports, eases strains on existing infrastructure, and keeps consumer bills affordable.

Expanded and improved electricity grids provide the backbone of Africa’s new energy systems in this scenario, and are powered increasingly by renewables. Africa is home to 60% of the best solar resources worldwide, but it currently holds only 1% of solar PV capacity. Already the cheapest source of power in many parts of Africa, solar is set to outcompete all other sources continent-wide by 2030. Renewables – including solar, wind, hydropower, and geothermal – account for over 80% of new power generation capacity added by 2030 in the Sustainable Africa Scenario.

While renewables are the driving force for Africa’s electricity sector this decade, the continent’s industrialisation relies in part on expanding natural gas use. More than 5 000 billion cubic metres (bcm) of natural gas resources have been discovered to date in Africa that has not yet been approved for development. These resources could provide an additional 90 bcm of gas a year by 2030, which may well be vital for Africa’s domestic fertilizer, steel, cement, and water desalination industries. Cumulative CO2 emissions from the use of these gas resources over the next 30 years would be around 10 billion tonnes. If these emissions were added to Africa’s cumulative total today, they would bring its share of global emissions to a mere 3.5%.

Africa’s vast resources of minerals that are critical for multiple clean energy technologies are set to create new export markets but need to be managed well, with Africa’s revenues from critical mineral exports set to more than double by 2030.

A number of low-carbon hydrogen projects are underway, focused primarily on producing ammonia for fertilizers, which would strengthen Africa’s food security. Africa has huge potential to produce hydrogen using its rich renewable resources. As much as today’s energy demand could be produced at internationally competitive price points by 2030.

Achieving Africa’s energy and climate goals means more than doubling energy investment this decade. This would take it over USD 190 billion each year from 2026 to 2030, with two-thirds going to clean energy.

“Multilateral development banks must take urgent action to increase financial flows to Africa for both developing its energy sector and adapting to climate change,” said Dr. Birol. “The continent’s energy future requires stronger efforts on the ground that are backed by global support. The COP27 Climate Change Conference in Egypt in late 2022 provides a crucial platform for African leaders to set the agenda for the coming years. This decade is critical not only for global climate action but also for the foundational investments that will allow Africa – home to the world’s youngest population – to flourish in the decades to come.”

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2022 Energy Technology RD&D Budgets Data

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The IEA is delighted to inform all data users of the first release of the 2022 Energy Technology RD&D Budgets data.Energy Technology RD&D Budgets databaseThe Energy Technology RD&D Budgets free database, with data on public budgets up to 2022, is a unique data collection obtained from national administrations.In 2021, the estimated total public energy research, development and demonstration (RD&D) budget for IEA member countries increased by 2% reaching USD 23 billion. This was the fourth consecutive year of increase after five years of decrease although at a slower rate than previous years.In the past 5 years the increase in public RD&D budgets among IEA countries has mainly been driven by energy efficiency but the most rapid increase has been for hydrogen and fuel cells technologies.
The IEA is delighted to inform all data users of the first release of the 2022 Energy Technology RD&D Budgets data. Energy Technology RD&D Budgets database.

The Energy Technology RD&D Budgets free database, with data on public budgets up to 2022, is a unique data collection obtained from national administrations.

In 2021, the estimated total public energy research, development, and demonstration (RD&D) budget for IEA member countries increased by 2% reaching USD 23 billion. This was the fourth consecutive year of increase after five years of decrease although at a slower rate than previous years.

In the past 5 years, the increase in public RD&D budgets among IEA countries has mainly been driven by energy efficiency but the most rapid increase has been for hydrogen and fuel cell technologies.
IEA public RD&D budgets increase in the 2016-2021 period to technology
The database is now accompanied by a Data explorer, an interactive tool that gives the opportunity to dive into the full database.
Discover the free database and analysis at Overview – Energy Technology RD&D Budgets: Overview – Analysis – IEA.

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