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Eurobonds offer succour for budget financing

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Eurobonds offer succour for budget financing

As the Federal Government begins the process of borrowing from the international markets, by way of floating $1 billion Eurobonds, all eyes are on the relevant authorities for proper utilisation of the bonds

The Debt Management Office (DMO) on behalf of the Federal Government has commenced bids for the engagement of two international banks as joint lead managers and a local bank as financial adviser for the planned Federal Government Medium Term Note (FGMTN) Programme 2016 – 2018, which highlights key borrowings to fund the 2016 budget.

Dr. Abraham Nwankwo, head of the DMO. Photo credit: newsexpressngr.com
Dr. Abraham Nwankwo, head of the DMO. Photo credit: newsexpressngr.com

The plan entails the issuance of $1 billion Eurobonds in the first instance out of the $4.50 billion scheduled to be raised in FGMTN programme in 2016.

Also, positions of the international and Nigerian law firms, which will act as Joint Legal Advisers for the FGMTN as well as technical adviser on communication have been advertised, setting the stage for a major borrowing to cushion the effect of dwindling revenues from oil.

With low oil revenue and exchange rate volatility, including a depressed economy and high interest rate regime worsened by high inflation, such borrowing plan have been applauded by analysts, who believe this would help bring some measure of stability to the economy by helping a cash strapped government to meet its financial obligations.

Although, the debt office has repeatedly assured that the country’s rising debt portfolio, which was over N12 trillion, was still within approved threshold, there are concerns on the need for borrowed funds to be appropriately utilised for key macroeconomic projects.

The fears stemmed from past experiences whereby borrowed funds had been cornered and diverted to other purposes with little or no impact on the economy.

One of the major elements of the new debt management strategy is the remixing of public debt portfolio to 60 per cent domestic and 40 per cent external, from 84 per cent domestic and 16 per cent external in the previous debt strategy document which expired December 2015, with the weighted average interest rates for the FGN’s domestic and external obligations at 13.0 per cent and 1.7 per cent respectively.

Domestic rates are higher but the differential also reflects the fact that international capital market (ICM) borrowings of US$1.5 billion are the only element of the FGN’s external debt burden of US$10.7 billion contracted on market terms, according to analysts at FBN Capital Research.

The prospects of the FG Eurobonds being successful was further strengthened by the fact that conditions for ICM borrowing by emerging market sovereigns have been improving since China-related fears eased in January and February. Buying surged in July, and has involved the big players, according to FBN Capital.

It said however that an estimated 30 per cent of global government bonds are trading at negative nominal yields so investors are chasing real returns adding that the macro story for the asset class (EM bonds) has not been transformed although there are some bright spots such as India, the Czech Republic and Vietnam. As long as investors see US rate prospects as “lower for longer” and China is relatively incident-free, the rally should have legs.

Nevertheless, it noted that “Nigeria is not currently a bright spot but should enjoy the ride of the asset class as a whole. At the FGN’s non-deal road show in London in early June, investors liked Adeosun’s fiscal narrative but did not appear interested in mooted Eurobonds issuance because of the then exchange-rate regime.

“We trust that the change in that regime will also have smoothed the FGN’s talks with the World Bank and the African Development Bank on budget support. The 2016 budget projected the external component of budget deficit financing at N900 billion (US$4.5 billion at the time but currently US$2.9 billion.”

Meanwhile, economist and ex-banker, Dr. Chijioke Ekechukwu, said the Eurobond is a good alternative only if it would be applied to appropriate projects.

He said: “Raising Eurobonds of $4.5 billion is a wise economic decision to take in the prevailing circumstance. The revenue base of our country has been so eroded that we must need this kind of credit intervention. The vandalised pipelines have left us with far less than projected revenue base. Such credit inflows will be used to inject and stimulate our economic system and activities.

“The budget needs to be funded. Don’t forget that our budget was already a deficit budget. The inability of the country to realise its projected revenues is an added burden on the system. The Eurobond therefore is a welcome decision if indeed it will be applied appropriately to those macroeconomic areas that will in turn drive the micro economy.”

Also, economist and former acting Unity Bank Managing Director, Mr. Muhammed Rislanudenn, also harped on the utilisation of proceeds from the offers.

He said: “The 2016 budget was expansionary, anchored on deficit of N2.2 trillion. Recall that the entire capital aspect of the budget was N1.8 trillion, meaning that without borrowing and even assuming achieving full 2016 revenue projections, implementation of particularly capital expenditure of the budget will be impossible. Indeed less than N400 billion has so far been released for capital projects even as attack on oil facilities has impacted negatively on state projected revenue sources. In the light of that and with economy already contracting at negative 2016 first quarter GDP of -0.36 per cent and unemployment rate of 12.1 per cent, government ought to have been more proactive in acting fast to negotiate those loans to support critical sectors that will reflate the economy and pull it out of recession and stagflation.

“Deficit financing is the right thing to do. More so our debt to GDP ratio is very low. What is important is optimum utilisation of the resources borrowed to ensure we do not unduly overburden future generations with debts without commensurate revenue sources of repayment.”

However, Director General of the Debt Management Office (DMO), Dr. Abraham Nwankwo, said the new four-year borrowing plan was appropriate for the times and challenges as well as appropriate for the country’s vision going forward.

Nwankwo had also addressed “undue” concerns over the ability to service external debts, maintaining that on-going efforts by government aimed at diversifying the economy will ultimately increase items for exports and create job opportunities- the conditions, he argued, could further correct exchange rate vulnerabilities and boost reserves.

Oceans began warming in the mid-1800s, study says

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Oceans began warming in the mid-1800s, study says

Around 1830, just decades after the start of the Industrial Revolution, something happened around the world: As factories fueled by coal power spread across much of Great Britain, humans began to change the chemistry of the atmosphere, adding carbon dioxide to the air in small but increasing amounts. Not long after, the planet’s oceans started to warm up, kicking off a trend that continues today.

Ocean surf. Scientists say oceans began warming in the mid-1800s
Ocean surf. Scientists say oceans began warming in the mid-1800s

That’s the message of a new study by a team of international scientists who set out to answer a fundamental question: When did manmade climate change begin? Drawing on a roughly 500-year history of temperatures in the oceans and on land, the group concluded that the warming of the planet may have started early in the 1800s – and much earlier than typical climate change graphs depict. The results show that even small amounts of carbon dioxide may be able to shift how fast the planet is warming, with both positive and negative repercussions.

“It tells us that our climate system is able to respond relatively quickly to greenhouse gases, at least in some areas,” says Nerilie Abram, an Associate Professor of Earth Sciences at the Australian National University in Canberra and lead author of the new paper. “Maybe we can also flip that around to ask: if we can reduce greenhouse gas emissions, are there some areas where we could see quick paybacks?”

The study was an effort of the 2k Network of PAGES (Past Global Changes), a research project of Future Earth investigating global paleo changes.

The question of when warming began isn’t just one for the history books. To know how much humans have altered the climate, you have to know when to start measuring, Abram says. Researchers with PAGES had previously pieced together a reconstruction of past temperatures over the globe’s land surfaces using records from tree rings and other sources. But the oceans are critical to the planet’s climate: They stretch over 70% of the globe and, according to scientists, have absorbed nearly 90% of the warming caused by climate change in recent decades.

To recreate how the temperature of the oceans had changed over hundreds of years, the team drew on data from two sources: microscopic organisms that swam at the oceans’ surface then died and became buried on the sea floor. And corals. Abram explains that like trees, corals grow in predictable ways: “Corals are a lot like the trees of the ocean,” she says. “Every year they grow, there’s a growth ring. We can look at the chemistry of that ring, and that tells us about the temperature of the oceans.”

By bringing together those sources, Abram’s team was able to reconstruct a temperature timeline of the oceans. That timeline covers most of the planet’s oceans from the seas surrounding Greenland and Antarctica to the tropics. Based on those results, the oceans seemed to have begun a steady uptick in temperature around the time that Queen Victoria came into power in Britain. Not that anyone standing at one of the country’s industrial ports would have noticed.

“Somebody living in the 1830s or even the 1890s would not have been able to distinguish that there was this change afoot,” she says. “It’s by having this long record now that extends almost 200 years from that point that we can go back and say ‘Well, this was when the changes first started.’”

But just because the oceans were warming doesn’t mean that the culprit was the carbon dioxide billowing from newly-constructed factories. To make that extra connection, Abram and her colleagues turned to computer simulations, or models.

Up until the early 19th Century, the planet had been in a cool period, explains Nicholas McKay, who is an Assistant Professor in Earth Sciences and Environmental Sustainability at Northern Arizona University and one of the authors of the study. That relatively chilly era was due to a series of volcanic eruptions, such as a massive blast from Mount Tambora in what is now Indonesia in 1815, that spewed huge clouds of ash into the atmosphere. Theoretically, the increase in ocean temperatures around 1830 could have been the result of the climate recovering after volcanoes around the world had gone quiet again.

“If you run the models with only volcanos and no increases in greenhouse gases, you see a warming, starting in the early 1800s”, McKay says. “But then it levels off, and you don’t see that warming continue through the 20th Century.” When the researchers ran those models with an increase in greenhouse gas levels, however, the globe started warming around 1830 and didn’t stop – much like what the team saw in the coral records.

Still, like Abram, McKay says that the study isn’t doom and gloom. Small reductions in greenhouse gas emissions won’t stop the planet from heating up, he says, but they could slow down the speed of that change. “In some ways, it’s a really positive message because it suggests that the climate system can respond really quickly to relatively small changes in greenhouse gases,” McKay says. “It means that our actions as a society, both positive and negative, can result in an immediate impact.”

GHG emission: Need for climate justice

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GHG emission: Need for climate justice

The shining of the sun all through the day and the continuous falling of rain do not necessarily mean climate change. We should bear in mind that these characteristics are good examples of weather condition while the melting of ice in the Polar Regions and extreme temperature in the Tropical Regions can be attributed to climate change.

GHG emission: A coal-fired power plant
GHG emission: A coal-fired power plant

It is apparent that climate changes at a snail pace, which is the more reason why our global climate is thus the outcome of 30 years of average weather condition across the planet. Greenhouse gas, on the other hand, according to Wikipedia, is “a gas in the atmosphere that absorbs and emits radiation within the thermal infrared range”. The important greenhouse gases are carbon dioxide, methane and steam.

It is no gain saying that climate change has being politicised over the years, so that people will not attribute so much importance to it. When people mention climate change, many others respond with, “So what?” and snub – as if it is not something serious. We should not blame them for this ill-chosen response and their poor knowledge of climate actions and its horrendous effects because it is the doing of the government to scare people away from knowing the truth.

It is very important to paraphrase the politicking of climate change and injustice amongst nations for the purpose of education. On the 30th of November 2015, approximately 150 countries met in Paris for the 21st Session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), popularly known as COP21. The main purpose of this meeting was to deliberate and agree a global, legally binding deal to make sure that global average temperature change does not exceed 20C by reducing greenhouse gas emissions. If this is eventually achieved, the agreement would be one of the greatest successes in the history of mankind as it seeks to reduce greenhouse gas emissions to a level that forbids climate change cataclysmic events.

Unfortunately, it is heart troubling to know that only a few countries stick to this agreement and the rest of the world commitments would overshoot the 20C target by almost a degree. However, the effects of the 10C rise in global temperature have led to sea level rise, drought, flooding, and desertification, amongst others.

The Nigerian state is a living testimony to these effects, ranging from the increasing level of desertification and desert encroachment experienced in core northern part of the country like Borno, Yobe and Jigawa. We will also not forget, for a long time to come, the deadliest flood disaster witnessed in Nigeria in 2012, which led to the death of hundreds of people and displaced about 2.1 million people.

To paint an uglier picture, only few people knew, according to Felix and Friends in their book titled, “Tree by Tree”, that “approximately one billion people in the USA and Europe are responsible for 60 percent of carbon dioxide (CO2) emitted into the air and the rest of humanity around six billion (6,000,000,000) people share the remaining 40 percent”.

The most painful part of this story is that developing countries of the world that emit the least CO2 are the most vulnerable to its effect. Now, the rhetorical question to ask is that, is this fair? Is this equally or justly shared? Of course not! Why would some quarters of the world suffer for the deliberate actions of some unrepentant states? This is left for the world to judge.

It is germane at this juncture to state clearly that Climate Justice is the only answer to balancing greenhouse gas emission equation around the world. Irrespective of colour, religion, ethnicity or political affiliation, everybody should have right to emit the same amount of CO2, though it might sound foreign at first but it is the only way we can help ourselves and the dying climate. The rule is that 1.5 tons of carbon dioxide should be consumed by one person each year, judging by the present level of CO2 in the atmosphere. If this can be achieved, the earth’s atmosphere will at long last restore itself. Furthermore, the United Nations must see to it by making a law that ensures nobody emits more than this quota a year and anybody that needs more of CO2 will have to buy extra “pollution right”. Also, the government at all levels must buy into this idea by saving the earth’s atmosphere and humanity at large.

Emission trading that happens to be the approach to implementing Climate Justice since the 2005 Climate Summit would help countries in trading emissions, most importantly carbon dioxide, so as to justify and balance its use. If an African man that emits less CO2 can only use 0.5 tons of his allotted 1.5 limits per year, then he can at will sell out the remaining 1.0 tons to other people in advanced countries that need to emit more than 1.5 tons of CO2 per year. This simple mathematics and trading will help put a smile on the faces of Africans as their governments will have enough money to build social and infrastructural facilities and also create an eco-friendly environment. It will also help change people’s behavior by consuming more of locally made products than foreign ones, as the latter will cost far more than the former because more CO2 will be burnt to transport such goods.

Conclusively, I hope the COP22 coming up between 7 and 18 of November 2016, in Marrakesh, Morocco, will address the implementation of the “emission trading” law, and I have no doubt in my mind that if this could be achieved, we will all sustainably trade emissions and achieve real climate justice.

By Alabede Surajdeen (environmentalist and SDGs Advocate; alabedekayode@gmail.com; @BabsSuraj)

GGGWeek2016: Climate action-packed week beckons

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GGGWeek2016: Climate action-packed week beckons

Indications are that the Global Green Growth Week 2016, taking place from 5 to 9 September on Jeju Island, Republic of Korea, is shaping up to be an energetic platform for climate action. Under the theme “Maximising Impact for Inclusive and Sustainable Green Growth,” GGGWeek2016 will bring together leading experts from both the public and private sectors to identify practical, innovative solutions to sustainability challenges and strengthen partnerships that deliver growth that is pro-poor, inclusive and environmentally sustainable. It will highlight four thematic priorities of energy, water, land use and green cities that are central to achieving this.

Jeju Island in South Korea will host the Global Green Growth Week 2016
Jeju Island in South Korea will host the Global Green Growth Week 2016

With the landmark Paris Climate Change Agreement clinched, 2016 is a crucial year to turn commitments on climate change and development finance into concrete actions and plans. The sessions throughout the five-day event are designed to maximise progress towards this goal.

Three issues will be given particular attention during the week. First, the Green Growth Knowledge Platform (GGKP), will examine ways to bring benefits to the poor through social inclusion.

Second, the Asia Regional Policy Dialogue will discuss the coal-versus-renewable dilemma in Asia to further enhance our understanding of how we can give renewables an even stronger role.

Third, there will be a discussion on developing countries’ capacity needs by zooming in on issues such as bankable projects and the role of financing vehicles.

More than 60 discussion sessions and side events will be held during the week. Highlights include:

  • The Global Green Growth Summit will address barriers to green growth investments;
  • A NAMA Market Place session will give experts from four countries – Mongolia, Pakistan, the Philippines and Vietnam – a platform to present their NAMAs to a panel of public donors and private investors.
  • Country Focus sessions will showcase GGGI’s projects around the world, highlighting green growth milestones;
  • The New Climate Economy and GGGI Africa Partnership Event will identify major opportunities for accelerating inclusive growth while reducing climate risk in low-income countries;
  • The Inclusive Green Growth PartnershipMeeting will bring together heads of multilateral development banks, UN regional commissions and GGGI to seek ways to increase green investment flows in developing and emerging countries;
  • Asia Pacific Carbon Forumwill explore policies and finance that can deliver sustainable development as part of countries’ Nationally Determined Contributions under the Paris Agreement;
  • Club de MadridPublic Symposium will gather policymakers, academics, private sector representatives and Club de Madrid members for the ‘Democracy in a Sustainable Future’ workshop;
  • World Bank Partnership for Market Readiness will focus on innovative approaches to GHG mitigation using markets and carbon pricing;
  • Country Focused Sessions will focus on showcasing GGGI’s projects on the ground to highlight green investment opportunities; and,
  • New Climate Economy Africa Initiative Launch will support African Policymakers as they navigate the nexus between economic development and climate change.

Ondo, timber merchants collaborate to curb illegal activities

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Ondo, timber merchants collaborate to curb illegal activities

Executive members of the Timber Traders Organisation (TTO), Akure-Ofosu branch in Ondo State, have declared their readiness to join hands with the state government in curbing illegal activities of encroachers and poachers in the state forest reserves.

Olusegun Mimiko, Governor of Ondo State
Olusegun Mimiko, Governor of Ondo State

They have also shown their willingness to collaborate with the state Ministry of Natural Resources in regenerating the forest reserves.

The Chairman of TTO, Akure branch, Mr. Rotimi Fasua, made the declaration during a meeting with the Commissioner for Natural resources, Tunde Atere, and executive members of the organisation in the office of the commissioner last week.

Fasua, who revealed that more than a quarter of the Akure-Ofosu forest reserves is being used to cultivate Indian hemp illegally with a sizeable portion depleted by coca farmers, said the organisation is ready to work with the state government to curb the illegal activities.

He said that indigenes of neigbouring states poached on the forest at will, adding that flinching is going on with impunity in the reserves.

While saying members of his organisation have the legal right to do business in the reserve, Fasua said his members are ready to work with government to curb the illegal activities as it threatens the future of their business.

Responding, the commissioner decried the high rate of depletion of government forest reserves across the state by encroachers and poachers.

He warned against any act of illegal activities in the state forest reserves, adding that the full weight of the law will be brought on anyone caught as, according to him, government will not fold its arms while its forest reserves are being depleted.

According to him, if the activities of the encroachers continue, the forest reserves will be on the verge of extinction in the next few years.

He, however, called on the indigenes of the state to strive to protect the reserve and see it as their heritage. He adding that government, in the last seven years, has planted millions of economic trees and will not fold its arms while illegalities thrive.

Other stakeholders who spoke at the meeting commended the decision of TTO members to collaborate with the state government to curb illegal activities of encroachers, and in regenerating the forest reserves.

By Oluwatope Akinjide

Images: National Council on Environment in Lafia

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Images: National Council on Environment in Lafia

The 10th National Council on Environment (NCE10) was held at the Ta’al Conference Hotel Lafia, Nasarawa State last week. It was chaired by the Minister of Environment, Amina J. Mohammed.

The NCE10, themed: “Environment and the Sustainable Development Goals (SDGs) in Nigeria: Empowering people, taking climate action and protecting the environment,” was preceded by the National Technical Committee session which was chaired by the Permanent Secretary in the Federal Ministry of Environment, Dr. Bukar Hassan, with Permanent Secretaries of State Ministries of Environment, civil society organisation (CSOs) and other delegates from the 36 states of the federation and the Federal Capital Territory (FCT).

The session, which was declared open by Governor Umaru Tanko Al-makura, featured presentation of welcome address by the Nasarawa State Commissioner for Environment and Natural Resources, Gabriel Ortan Aka’aka, as well as goodwill messages by the Country Directors of the United Nations Development Programme (NDP) and United Nations Industrial Development Organisation (UNIDO); representative of CSOs; Chairman of Nasarawa State Council of Chiefs; the Emir of Lafia; and Chairman, House Committee on Environment/Culture and Tourism, Nasarawa State House of Assembly, Ibrahim  Bala.

Environment Minister Amina J. Mohammed (making a presentation) with Minister of State for Environment, Ibrahim Usman Jibril, along with other dignitaries
Environment Minister Amina J. Mohammed (making a presentation) with Minister of State for Environment, Ibrahim Usman Jibril, along with other dignitaries
Minister commissions solar-powered tricycle
Minister commissions solar-powered tricycle
Gov. Umaru Tanko Al-makura and the Environment Minister, Amina Mohammed, visit an exhibition stand
Gov. Umaru Tanko Al-makura and the Environment Minister, Amina Mohammed, visit an exhibition stand
Environment Minister and Minister of Niger Delta board an helicopter to conduct an aerial assessment of environmental challenges in Nasarawa State
Environment Minister and Minister of Niger Delta board an helicopter to conduct an aerial assessment of environmental challenges in Nasarawa State
Minister of State for Environment, Ibrahim Usman Jibril, joins Governor of Nasarawa State, Umaru Tanko Al-makura, to conduct a clean-up of Lafia
Minister of State for Environment, Ibrahim Usman Jibril, joins Governor of Nasarawa State, Umaru Tanko Al-makura, to conduct a clean-up of Lafia
Environment Ministers led a NCE10 delegation to the Nasarawa State GIS office, where she hailed the use of tech-driven land management systems
Environment Ministers led a NCE10 delegation to the Nasarawa State GIS office, where she hailed the use of tech-driven land management systems
Amina Mohammed receives a traditional basket from an Alago Dancer
Amina Mohammed receives a traditional basket from an Alago Dancer
Faces at the NCE10
Faces at the NCE10
Faces at NCE10
Faces at NCE10
Faces at Lafia
Faces at Lafia

 

 

Agriculture, Health ministries to lose departments to Environment

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Agriculture, Health ministries to lose departments to Environment

Environmental Communication State governments have been asked to relocate the Forestry Department and other environment-related departments in Ministry of Agriculture, as well as the Environmental Health Department in their Health Ministries to the Ministries of Environment.

Environment Minister, Amina J. Mohammed (left) with Governor of Nasarawa State, Umaru Tanko Al-makura, during the 10th National Council on Environment (NCE10) last week in Lafia, Nasarawa State
Environment Minister, Amina J. Mohammed (left), with Governor of Nasarawa State, Umaru Tanko Al-makura, during the 10th National Council on Environment (NCE10) last week in Lafia, Nasarawa State

This directive formed one of several decisions arrived at the weeklong 10th National Council on Environment (NCE10) that held last week in Lafia, Nasarawa State.

Besides approving the re-introduction of the monthly National Environmental Sanitation exercise, the gathering, chaired by Environment Minister Amina J. Mohammed, urged states with increasing land degradation problems that requested for approval for funding of projects such as erosion control programmes and afforestation schemes that are not policy-driven, to embark on bilateral consultations with relevant ministries, departments and agencies (MDAs), including the Ecological Fund Office (EFO).

Apparently in line with the nation’s climate initiatives, the NCE10 approved programmes and projects that will help in the mitigating and adapting to the impacts of climate change such as adoption and implementation of the renewable energy master plan, promoting renewable energy programme in schools; as well as upgrading and repositioning climate change units in MDAs, and engaging the private sector in renewable energy programmes through public-private partnership (PPP) arrangements.

Similarly, approval was given to forestry development and afforestation programmes such as enrichment planting in forest reserves nationwide, promoting the use of alternative source of energy, suspension of further exportation of P t e r o c a p u s S p p in Taraba State in the interim, along with initiation and implementation of bamboo and rattan value chain development in the states.

Furthermore, the Council directed the 11 participating frontline states involved in the National Great Green Wall (NAGGW) initiative to strongly support the programme by providing adequate annual budgetary allocation, provision of land, enhancing community sensitisation and mobilisation, as well as technical support. States were likewise encouraged to fully participate in the implementation of Extended Producer Responsibility Programme (EPR) nationwide.

Additionally, the Council:

  • approved installation of automated web-based flood early warning equipment in flood-prone communities nationwide, where there is none presently;
  • approved the implementation of national requirements and guidelines on registration of environment-friendly products and eco-labeling and encouraged manufacturing companies to buy into the scheme; and,
  • urged the Federal Ministry of Environment to develop national guideline/regulations on efficient management of spent oil in the country and pilot schemes in six geo-political zones.

The NCE10, themed: “Environment and the Sustainable Development Goals (SDGs) in Nigeria: Empowering people, taking climate action and protecting the environment,” was preceded by the National Technical Committee session which was chaired by the Permanent Secretary in the Federal Ministry of Environment, Dr. Bukar Hassan, with Permanent Secretaries of State Ministries of Environment, civil society organisation (CSOs) and other delegates from the 36 states of the federation and the Federal Capital Territory (FCT).

Minister of Environment, Amina J. Mohammed, in the company of the Minister of State for Environment, Ibrahim Usman Jibril, and other dignitaries paid a courtesy call on the Governor of Nasarawa State, Umaru Tanko Al-makura, and Alhaji (Dr.) Isa Mustapha Agwai I, the Emir of Lafia and Chairman, as well as Nasarawa State Council of Chiefs. A key outcome of the courtesy call was the signing of Memorandum of Understanding (MoU) between the Federal Ministry of Environment and the Government of Nasarawa State.

The opening session, which was declared open by Governor Al-makura, featured presentation of welcome address by the Nasarawa State Commissioner for Environment and Natural Resources, Gabriel Ortan Aka’aka, as well as goodwill messages by the Country Directors of the United Nations Development Programme (NDP) and United Nations Industrial Development Organisation (UNIDO); representative of CSOs; Chairman of Nasarawa State Council of Chiefs; the Emir of Lafia; and Chairman, House Committee on Environment/Culture and Tourism, Nasarawa State House of Assembly, Ibrahim  Bala.

The session also featured a presentation on Spatial Data Infrastructure (SDI) for sustainable environmental management by Alhaji Jibril Usman (Environment Minister of State) and an opening address by Amina Mohammed, wherein she reiterated the importance of SDGs in achieving the environment sector objectives and the integration of the key issues encapsulated in the change agenda. She commended EnviroNews Nigeria as well as Connected Development for their outstanding role in environmental communication, awareness raising and advocacy, as well as open engagement in eco-governance. The opening session was rounded off with a keynote address by Governor Al-makura.

The opening ceremony was followed by the Council Meeting, during which the report of the Technical Segment was deliberated upon and decisions were taken. The Technical Committee considered 106 memoranda, stepped down 25, and recommended 81 consisting of 52 action and 29 information memoranda respectively for Council’s approval. These memoranda were submitted by the Federal and State Ministries of Environment/Agencies, NGOs/CSOs.

Council deliberated extensively on all the memos and noted:

  • The need to increase awareness on the issues of climate change;
  • Nigeria INDC to reduce GHG emission and the implementation of programmes and projects to mitigate and adapt to the impacts of climate change;
  • The growing/increasing problems of land degradation and deforestation and the need for sustainable management solutions to address these issues;
  • The menace of poor solid waste management and sanitation as well as other environmental pollution issues including spent oil;
  • Environmental governance issues such as the review of NPC and others existing policies, laws and regulating frameworks to address emerging global trends and international best practices;
  • Council agreed that issues related to regulations for support will best be handled through bilateral consultations; and,
  • Council reminded members that memos coming to Council should only be policy memos.

Shell trains Ogoni youths on enterprise development

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Shell trains Ogoni youths on enterprise development

Youths in Ogoni land are being offered another chance to start their own businesses in the second LiveWIRE programme to be implemented by The Shell Petroleum Development Company of Nigeria Ltd (SPDC) Operated Joint Venture. This follows the training of 105 Ogoni youths in the first tranche in 2014/2015. Already, more than 100 youths from the four local government areas in Ogoni — Khana, Gokana, Tai and Eleme — have submitted business ideas for the 2016 edition in response to newspaper advertisements.

The LiveWIRE programme is part of efforts to encourage youths in Ogoniland to take up viable and legitimate means of livelihood
The LiveWIRE programme is part of efforts to encourage youths in Ogoniland to take up viable and legitimate means of livelihood

“The LiveWIRE programme for Ogoni youths is a targeted initiative and is part of efforts to encourage youths in the area to take up viable and legitimate means of livelihood,” said General Manager, External Relations, Igo Weli. “The 2011 UNEP Report on Ogoniland had recommended programmes aimed at supporting youths for alternative means of livelihood so they can stay away from crude oil theft and illegal oil refining activities. We’re happy that the youths are enthusiastic about the opportunities we’re offering them through LiveWIRE.”

The flagship youth enterprise development programme aims to reach young people aged 18-35 to start their own businesses through the provision of training and finance. The three-month training covers welding and fabrication, electrical installation, food preparation and culinary arts, information technology, fashion and beauty care, carpentry and joinery and hairdressing and beauty therapy. The trainees will be provided starter packs at the end of the session to start their own businesses. Equipped with the skills and packs, some 78 graduates of the premier LiveWIRE session have started their own businesses and also created jobs.

Mr. Weli added: “We expect to replicate the same success story in the 2016 LiveWIRE programme, helping youths to create jobs and giving the new employers and employees a new lease of life.”

The LiveWIRE programme was launched in Nigeria in 2003, and has so far trained more than 6,200 Niger Delta youths in enterprise development and management.

Alert issued on falsified anti-malaria drugs in circulation

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Alert issued on falsified anti-malaria drugs in circulation

The Federal Government has stepped up vigilance within the drug supply chains in the country on the circulation of two confirmed falsified versions of Quinine Sulphate.

Mrs Boade Akinola
Mrs Boade Akinola

A statement said the Federal Ministry of Health received a medical alert that the two falsified drugs contain zero active pharmaceutical ingredients.

The statement, signed by Mrs Boade Akinola, Director, Media and Public Relations of the ministry, on Saturday said the drugs were circulating in West and Central Africa.

Akinola said the two version of the drug were circulating in Cameroon and Democratic Republic of Congo. She said the quinine Sulphate was used in the treatment of malaria.

According to her, the implication of using the falsified one is that it will not be effective and may also lead to other health challenges. She said one of the fake products was named Quinine Sulfate 300 mg with 1000 Tablets per container, Batch Number 10H05, expiry date 09/2018 and it manufactured 09/2014.

Akinola added that the drug, manufactured by Novadina Pharmaceutical Limited, London, United Kingdom, was first discovered in Cameroon. The director said the other version of the fake drug was Quinine Sulphate 300mg with 100 Tablets per container; batch F4387, expiry date 11/18 and its date of manufacture is 12/14.

She explained that the product was manufactured in India by CAD Pharm, and it was discovered in Bunia, Democratic Republic of the Congo.

She advised Nigerians to be vigilant and report to the nearest National Agency for Food and Drug Administration (NAFDAC) office anywhere the drugs are spotted including hospitals and pharmaceutical shops.

The ministry urges Nigerians to also report it the following GSM numbers +2348037881120, +2348055056727 and +2348035902679.

She said: “If you are in possession of these products, please do not use them. If you have taken this falsified product or if you suffer an adverse effect following its uptake, please seek immediate advice from a qualified healthcare professional and report the incident to NAFDAC.”

NEWMAP to battle land degradation in 12 more states

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NEWMAP to battle land degradation in 12 more states

Twelve additional states have recently become partners with the Nigeria Erosion and Watershed Management Project (NEWMAP) in combating environmental and land degradation. The states include: Akwa Ibom, Bauchi, Borno Delta, Gombe, Kano, Katsina, and Kogi. Others are ‎Nasarawa, Oyo, Plateau and Sokoto.

A gully erosion site being attended to by NEWMAP
A gully erosion site being attended to by NEWMAP

The multisector and multi-scale project, which adopts innovative approaches to preventing and reversing land degradation, initially commenced with gully erosion sites that threaten infrastructure and livelihoods in the states of Abia, Anambra, Cross River, Ebonyi, Edo, Enugu and Imo, referred to as first mover states.

NEWMAP’s activities has however scaled out from the initial seven states to 12 states, now making a total of 19.

Dr. Amos Abu, World Bank’s Task Team Leader (TTL) on the ‎project, disclosed this development recently while briefing key officials of the seven states where the Bank’s Erosion and ‎Watershed Intervention Programme is currently being executed.

Reclaimed gully site at the back of Union Bank in Atakpa Bay Side, Cross River State
Reclaimed gully site at the back of Union Bank in Atakpa Bay Side, Cross River State

NEWMAP, it was gathered, was informed by the need to respond to the challenges and the emerging land degradation and environmental insecurity facing the first mover states.

Then, in 2010, the project was conceived by the Federal Government in partnership with the World Bank to support the country in addressing severe erosion and its impacts in south-eastern Nigeria.

“At the moment, NEWMAP is currently intervening, with a high percentage degree of project completion, in 21 active gully erosion sites, in the initial seven states,” said a source.

Progress/project status: Implementation
Progress/project status: Implementation. Source: NEWMAP

NEWMAP is predicated on an eight-year Strategic Investment Loan (SIL) of $508.59 million, consisting of a $500 million International Development Association (IDA) concessional loan, blended with Global Environment Facility (GEF) Trust Fund grant of $3.96 million and Special Climate Change Fund (SCCF) grant of $4.63 million. The government of Nigeria’s contribution would amount to approximately $150 million (the Federal Government: 60% and participating states: 40%).

NEWMAP is designed as a states led intervention, to reduce vulnerability to soil erosion in targeted sub-watersheds, achieve greater environmental resilience to soil erosion and associated challenges of land degradation, loss of biodiversity, poverty, climate change and disaster risks in specific locations in Nigeria.

The project has four components, which are listed to include: Erosion and Watershed Management Investments; Erosion and Watershed Management Institutions and Information Services; Climate Change Agenda Support; and, Project Management.

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