Day: May 11, 2023

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Solar Energy: REA holds 1st investor matchmaking programme

The Rural Electrification Agency (REA) has held its first investor matchmaking for the Solar Power Naija Programme to provide opportunity for potential investors to pitch their financial offerings to developers.

A statement from REA in Abuja on Thursday said the event was organised in collaboration with the Power Africa Nigeria Power Sector Programme (PA-NPSP, USAID).

REA said that the event also provided a networking and matchmaking forum that brought together key investors and high-performing developers pre-evaluated by the Solar Power Naija team in the power sector.

The agency explained that the programme was launched as part of the Economic Sustainability Plan (ESP) to achieve the roll out of five million new solar connections in off grid communities.

”This programme is expected to generate an additional N7 billion increase in tax revenues per annum and 10 million dollars in annual import substitution.

“The objectives of the programme are to expand energy access to 25 million individuals (five million new connections) through the provision of Solar Home Systems (SHS) or connection to a mini grid.

“Increase local content in the off grid solar value chain and facilitate the growth of the local manufacturing and assembly industry and incentivise the creation of 250,000 new jobs in the energy sector,’ ‘it said.

Speaking at the event, the Managing Director of REA, Mr Salihijo Ahmad, encouraged partnerships to boost energy access in communities.

“As the implementing agency for Nigeria’s off-grid strategy, the REA has been working to support private developers by creating an enabling environment to facilitate investments in various ways,” Ahmad stated.

He said that this partnership included access to data, policy support, grants, capacity development, stakeholder management and most importantly financing developers.

The Acting Deputy Missions Director, USAID Nigeria, Mr Stephan Menard, said: “I encourage the private developers to take advantage in accessing financing towards improving the lives of Nigerians by delivering sustainable energy access.”

On her part, the Head, Solar Power Naija Programme, Barbara Izilien, said that the match making event would build quick partnerships that could lead to new connections.

According to her, the partnership will further count towards the country’s target of electrifying a minimum of five million households, serving a minimum of 25 million Nigerians.

“The Solar Power Naija Programme implemented through REA is actively working on catalysing access to financing for developers in the off-grid sector to achieve the programme targets,” she said.

Source: News Agency of Nigeria

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EFCC arrests ‘crossdresser’, 32 others for alleged internet fraud

The Economic and Financial Crimes Commission (EFCC) has arrested one Owoseni Gabriel, who posed as a woman to evade arrest, and 32 others for their alleged involvement in computer-related fraud.

EFCC Spokesperson, Wilson Uwujaren, said this in a statement in Abuja.

”Gabriel was arrested alongside Salaudeen Hammed, Akinsanya Olamilekan, Olamofe Joshua, Akindele Saheed, Damilare Micheal, Patoki Ayomiku, Olakunle Ismail, Babalola Ayomide, Afolabi Olaibola and Abiodun Olayinka.

”Others are: Samson Jeremiah, Kolawole Afeez, Owoseni Gabriel, Makinde Oluwasegun, Daniel Seun, Adefolahan Isreal, Olusegun Emmanuel, Olawore Micheal, Hammed Raheem, Micheal Tunde,

”They also included Francis Chibundu, Jesse Oluwatobiloba, Adenekan Ayotunde, Qudus Adeyi, Sulaimon Oladimeji, Kayode Sunday, Daniel Owosine, and Boluwatife Gbolahan Samuel Ogunyemi, Adebayo Olarewaju, Abdul-Fatai Olawale and Hassan Ayofe.”

He said that they were arrested on May 2, at the Iyana Ipaja axis of Lagos State, following credible intelligence received by the Commission on the activities of some young boys involved in computer-related fraud.

”During the sting operation, Gabriel, particularly, wore a female dress and a wig to evade arrest.

”Items recovered from the suspects include a Toyota Camry 2005 model, a Toyota Camry 2009 model, mobile phones and laptop computers.

”The suspects will be charged to court after investigations have been concluded, ” he said.

Source: News Agency of Nigeria

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EFCC nabs suspected fraudster over $268,000 scam

The Economic and Financial Crimes Commission (EFCC) has arrested one Precious Ojo, popular known as “Obago”, a suspected internet fraudster, in Oghara, Delta.

EFCC Spokesperson, Wilson Uwujaren, confirmed this in a statement in Abuja on Thursday.

According to Uwujaren, Ojo, 26, was arrested following a petition received from a United States of America citizen, on his fraudulent activities.

”The petitioner had alleged that the suspect impersonated one Raymond Bush, who works in the US Treasury, to defraud her of 268,000 dollars

”The suspect was arrested in his hotel in Oghara. He confessed to building the luxury hotel with his proceeds of the said crime.

”Other items recovered from him included a Mercedes Benz car with personalised plate number and mobile phones.

”The suspect will be arraigned soon,” he said.

Source: News Agency of Nigeria

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Efforts Well Underway to Boost Ethio-Pakistan Bilateral Relations: Foreign Affairs State Minister

Ethiopian Foreign Affairs State Minister, Ambassador Misganu Arga, stated that efforts are well underway to boost Ethio- Pakistan bilateral relationship.

Ethiopian Airlines has resumed flights to Karachi, Pakistan this week after 20 years of interruption.

The resumption of Ethiopian Airlines to Karachi is expected to play great role in the overall cooperation of the two countries particularly to strengthen economic ties.

During the inauguration of the flight, Ethiopian government and business, high level delegation led by the State Minister of Foreign Affairs, Ambassador Misganu Arga has visited Pakistan.

The trade and investment forum of the two countries was held in Karachi and has created a great impetus to strengthen the cooperation between the two countries.

State Minister of Foreign Minister, Ambassador Misganu Arga told ENA that the comprehensive cooperation between Ethiopia and Pakistan is growing.

The resumption of Ethiopian Airlines flights to Karachi will strengthen economic diplomacy of the two countries by facilitating trade and investment ties., ambassador Misganu indicated.

He said Ethiopia is very much interested to increase the diversity of exports to Pakistan while Pakistan’s potential in the manufacturing sector is good opportunity for Ethiopia.

Ethiopia is currently working focusing on increasing export goods and foreign direct investment, he said, adding that Pakistani investors can benefit from this opportunity.

Ambassador Misganu further stated that in various fields efforts are well underway to further boost the bilateral relations of Ethiopia and Pakistan.

Special economic zones and industrial parks being established in Ethiopia will create good opportunities for Pakistani investors, he elaborated.

Pakistani Trade Development Authority Chairman, Zubair Motiwalla on his part said that Pakistan is committed to strengthening its diplomatic, trade and investment relations with Ethiopia.

As Ethiopia is also working with the same position, we are committed to move the comprehensive cooperation of the two countries to the next phase, he said.

At the business forum held in Karachi, Pakistan, an agreement was signed between the chambers of commerce of the two countries to strengthen trade and investment.

Source: Ethiopian News Agency

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Atlanta Mayor Leading Economic, Cultural Trip to Addis Ababa

Atlanta Mayor Andre Dickens is leading a trip to Addis Ababa, Ethiopia, to foster economic and cultural relations between the two cities, according to roughdraftatlanta.com

“Atlanta and Addis Ababa are two global cities with important cultural and economic ties,” Dickens said in a statement. “I am excited to deepen those ties through direct commercial air service, which will open more doors for business, tourism and cultural relations.

Just as Atlanta will serve as a gateway to the Americas, Addis Ababa will give Atlantans an added gateway to all of Africa.

Dickens will return to Atlanta on Ethiopian Airline’s inaugural direct flight between Addis Ababa and Atlanta, marking Hartsfield-Jackson Atlanta International Airport’s second carrier with direct flights between Atlanta and cities in Africa.

I look forward to spending time with leaders and community members in Addis Ababa to share Atlanta’s story and learn from our counterparts.” Over the course of the trip, Atlanta officials will meet with leaders in government, business, educational institutions and cultural organizations, the statement said.

Source: Ethiopian News Agency

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African Development Bank Working with Ethiopia to Strengthen Agricultural Sector: AfDB Official

The African Development Bank Group said that it is working in partnership with the government of Ethiopia to help the country’s agricultural development efforts being carried out to realizing food self-sufficiency.

In an exclusive interview with ENA, African Development Bank Group, Deputy Director General, East Africa Region office, and country Director in Ethiopia, Abdul B. Kamara lauded Ethiopia’s effort being made to accelerate the development of agricultural sector.

He said the efforts is really amazing and “in fact it is inspirational the achievement that Ethiopia has recorded in the past 5 years, especially in wheat production.”

Stressing the need for Agriculture to be brought at the front in the continental level as well as it requires leadership at the top, the Deputy Director General appreciated Ethiopia in this regard for the government has been giving the utmost priority to the development of sector over the past years through various policies and programs including the current homegrown economic reform program.

In all of these programs, agriculture has always been at the front and supporting systems have always been created, he indicated.

African Development Bank has been working in partnership with Ethiopia over the past 10 years in various areas including in infrastructures, energy, roads and agriculture focusing on drought resilience sustainable livelihood in the Agri- industrial parks, he noted.

Furthermore, since 2018 the partnership between AfDB and Ethiopia focused on the agricultural sector in collaboration with other various stakeholders, he underscored.

The Deputy Director General stressed the need for not only Ethiopia but also Africans as whole to exert many efforts to ensure food self-sufficiency by utilizing the huge potential that exists in the continent.

”In the case of Ethiopia, we found out the problem of wheat through study, which is heat. Therefore, we engaged with the international institutions to produce heat tolerance varieties and provided 60,000 tons of ‘’Heat Tolerant Varieties’.”

The size of farmland covered with wheat irrigation development in 2018 was 5,000 hectares, he said, however, currently 1.3 million hectares of land is cultivated with wheat crop, which is inspirational to others and exemplary that needs to be replicated on the continent.

Stressing the need for African countries to exert efforts to strengthen their agriculture sector by drawing lessons from Ethiopia he noted some countries are already visiting Ethiopia to share experience.

Source: Ethiopian News Agency

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