Türkiye’s installed renewable energy capacity has reached 58,462 megawatts, rising to 11th place in the world ranking.
Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar
Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, said on Wednesday, May 29, 2024, citing data from the International Renewable Energy Agency (IRENA).
“We now rank among the top 11 countries globally in renewable energy and rank fifth in Europe.
“Türkiye intends to incorporate renewable resources, such as solar, wind, hydraulic, and geothermal, into its energy mix within a certain programme,” Bayraktar said in a statement.
The country aims for 5,000 megawatts of newly installed renewable energy capacity every year, including 3,500 megawatts of solar energy and 1,500 megawatts of wind power, he said.
Every kilowatt-hour of renewable electricity means a reduction in the amount of natural gas, coal, and oil the country imports, the minister noted.
According to IRENA, China, the United States, Brazil, India, Germany, Japan, Canada, Spain, France, and Italy occupy the top 10 places in world ranking of installed renewable energy capacity.
With the impact of climate change being felt on food systems around the world, and with the contribution of agriculture to global emissions also gaining attention, experts are focusing on climate change.
Minister of Agriculture and Food Security, Sen. Abubakar Kyari
The World Health Organisation (WHO) says Climate-Smart Agriculture (CSA) is an integrated approach to managing landscapes, cropland, livestock, forests and fisheries that address the interlinked challenges of food security and climate change.
However, stakeholders have expressed concern that the term could be used to green-wash industrial agricultural practices that could harm food production in the future.
Though climate smart agriculture is gaining attention and acceptance among stakeholders, including researchers and policy makers, there is growing concern about what smart “Climate Smart Agriculture” really is.
With most of the world’s largest fertiliser and synthetic agrochemical manufacturers among the promoters of climate change, it the sincerity behind the said Climate Smart Agriculture comes under scrutiny.
According to an ActionAid Nigeria report, some governments and NGOs also worry that pressure to adopt Climate Smart Agriculture could lead to complications in the food systems of developing countries, with its attendant negative fallouts.
These worried stakeholders say that their agriculture systems have not contributed as much to the problem, but that going the Climate Smart Agriculture way could actually limit their ability to effectively adapt to the climate challenges ahead.
They argue that there are no identifiable yardsticks for determining what “Climate Smart” is, since entities that could be destructive to the climate, the farmers, and the environment, also freely use the word Climate Smart Agriculture.
Mr Bowie Attamah, a legal practitioner and an environmentalist, said promoters of industrial scale mono-cropping were jumping on the “Climate Smart” bandwagon, claiming that they proffer solutions to climate change.
“The same so-called ‘green revolution’ industries that have been widely criticised for their significant contribution to climate change and their negative environmental and social impacts on farmers and food systems.
“The have simply re-branded themselves as ‘Climate Smart’ and continued as before.
“Synthetic fertilisers, for example, contribute significantly to climate-change greenhouse gases while large-scale industrial livestock production has been shown to be a major contributor to climate change.
“Ultimately, there are no means to ensure that ‘Climate Smart Agriculture’ is actually smart for the climate, for agriculture, or for farmers,’’ he said.
Attamah said that synthetic fertilisers contribute to climate change as the creation of synthetic nitrogen fertilisers is energy-intensive, burning large amounts of fossil fuels and leading to high CO2 emissions.
“When applied to the soil, they can release Nitrous Oxide (N2O), a highly potent greenhouse gas that has 298 times the atmospheric warming effect of CO2,” he said.
“There are, therefore, significant concerns that destructive agribusinesses are able to use climate rhetoric and the general confusion over the term ‘Climate Smart Agriculture’, to provide ‘green wash’ cover to their activities.
“This enables them to expand into new markets such as Africa while undermining local economies, ecosystems, seed diversity and farmers, in the process.
“So, I’m skeptical when I hear people who are destroying the environment claiming that that they also practice climate smart agriculture,’’ Attamah said.
However, stakeholders have advocated the embrace and growth of organic and agroecological farming practices to enhance the health of the environment and its habitants, as well as food and nutrition security on the African continent.
Experts say agroecology is an integrated approach that simultaneously applies ecological and social concepts and principles to the design and management of food and agricultural systems.
They believe that farmers and food security would be better served through the implementation of specific, meaningful and tested strategies such as agroecology.
Prof. Olugbenga AdeOluwa, the Coordinator, Organic and Agroecology Initiative (ORAIN), said that needs to upscale its organic and agroecology practices to bring the continent to the forefront of having a secure food system and safe environment.
AdeOluwa also said that there is a need to improve local development for export business in organic agriculture to improve the continent’s GDP.
“Capacity building of strategic practitioners in the organic agricultural sector of Nigeria is needed to contribute to food security, income generation, employment, systems resilience, among others,” he said.
Another expert, Mrs Joyce Brown, Programme Director, Health of Mother Earth Foundation (HOMEF), said that promoting agroecology would protect the environment, the earth and help in attaining food security.
Brown said that another reason for promoting organic and agroecological practices is due to the understanding that industrial agriculture is not healthy.
She, therefore, urged government sensitise the masses on the economic importance of organic and agroecology farming.
“Other methods of farming destroy the ecosystem and the introduction of GMOs also will lead to loss of biodiversity even as climate change contributes its own impact to the agriculture food system,” she said.
Experts have argued that agricultural production systems in many developing countries, which are usually far less industrialised, have done the least to contribute to the global problem of climate change.
They argue that supporting their agriculture to adapt to changing weather conditions should be the greatest priority, and that they should not be obliged to take on more than their ‘fair share’ of mitigation commitments in agriculture.
They say developed countries, which have intensive production and high consumption models of agriculture, should consider changing their agricultural practices, while allowing developing countries to focus on their adaptation needs.
They say climate smart agriculture should not be a proxy to force developing countries to carrying more than their fair share of climate change mitigation, nor to let developed countries off the hook.
The idea of climate smart agriculture may sound appealing to many organisations and governments but should be approached with caution because of the risk of harmful green-wash agricultural practices.
There is a great need to make a distinction between developed nations, who are largely responsible for climate change, and developing nations who are the least victims of this phenomenon.
The National Space Research and Development Agency (NASRDA) has urged agriculture stakeholders and interested parties to leverage available data through its Crop-Watch programme to enhance agricultural practices for food security.
Agriculture
Dr Rakiya Babamaaji, Crop-Watch Nigeria Coordinator, made the call in an interview on Wednesday, May 29, 2024, in Abuja.
NASRDA and the Aerospace Information Research Institute of the Chinese Academy of Science (AIR-CAS) signed a Memorandum of Understanding in July 2022, for Crop-Watch programme.
The programme was targeted at utilising Earth Observation satellite data to enhance real-time monitoring of crops, which would increase agricultural productivity and ensure food security.
Babameji said that Crop-Watch was meant for sustainable agriculture.
“The economic value is for us to improve the productivity of agriculture within the country.
“Ours is to generate geospatial data; support the relevant agencies that have the mandate for agricultural practice and food security in the country.
“By the time stakeholders use this, it will improve production for farmers because we are all working towards precision agriculture and food security.
“We are supporting the government and the Renewed Hope Agenda for food security and NASRDA is doing its best by providing geospatial data to support agriculture.
“We want to work with all the relevant stakeholders in the agricultural sector including the private sector, anybody that needs geospatial data to contact NASRDA.”
She said that part of the challenges of the programme was that the skill of deploying geospatial technology and interpreting its data was lacking among agricultural practitioners.
Babamaaji added that the agency was working on providing data as well as developing the capacity of individuals to understand mapping and statistical data.
“We will be meeting with the Ministry of Agriculture to help them upgrade their Geospatial Information System (GIS) lab, where they can do some data analysis.
“We will want to develop their capacity to understand it and take to the local farmers in the language they will understand, which includes the agricultural extension workers.
“With an improved budget, we need more publicity to get our product out; to enable us better inclusion for the private sector, state governments; we need them to be part of it,’’ she said.
Babamaaji also said that the programme had recorded some feats, which included an active, customised platform where interested parties could access information on arable lands across the country.
She said people could access information on crop condition index, health of a crop, stress, yield intensity both in a map format and statistical data.
“We have trained some stakeholders on how to access the platform; built their capacity; exposed them to different data emanating from the platform.
“We also exposed them to agricultural data collecting app, GVG, developed for Crop-Watch data collection and can be used to validate some of the remote sensing data collected from the platform.
“From the feedback, it was appreciated, and we hope to achieve more in the next one year.’’
The coordinator also mentioned that the agency had developed the soft copy of a quarterly bulletin designed for agriculture sector organisations.
According to her, efforts are being made to produce the hard copy as well.
She further said that NASRDA’s performance on the programme had earned the agency a nomination to host the regional capacity building expected to hold from July 2 to June 5.
Babamaaji said that 15 African countries were expected for the training in collaboration with AIR-CAS and the United Nations Conference on Trade and Development (UNCTAD).
“That training is for us to extend the programme beyond Nigeria; we want to exchange knowledge of data for agricultural practices; for smart and precision agriculture within West Africa.
“We are also inviting Chad and Cameroon from Central Africa to join because they are our neighbours with ten local participants,” she said.
The Elephant Protection Initiative (EPI) friend of the month for May 2024 is Mezgebe Seyoum, the Community Partnership Desk Head at the Ethiopian Wildlife Conservation Authority (EWCA). Mezgebe was one of the EWCA beneficiaries of the human-elephant coexistence training in Tsavo earlier in the year.
According to him, human-elephant conflict in Ethiopia has become more frequent and severe over recent decades because of human population growth and the expansion of agricultural and industrial activities.
Mezgebe Seyoum
Tell us a little bit about how you grew up, where your passion for conservation was ignited.
I grew up in a rural area and finished my high school education at Adventist Boarding School, where I participated in the school plantation programme. After joining university, I developed an interest in social science, but my passion for conservation was ignited when I joined the Ethiopian Wildlife Conservation Authority 15 years ago.
In all the years you have been working in Ethiopia’s parks, what has been the highlight of your career?
Some of the highlights over the past 15 years have been providing continuous awareness and training on conservation to local administrators and buffer zone communities, which has been essential in fostering sustainable environmental practices. We have also improved the livelihood security of these communities. This has reduced their over-reliance on natural resources, thereby alleviating pressure on the environment.
Over the years, we have been encouraging our local communities to get involved in the planning and management of protected areas, both inside and outside these zones, ensuring that their needs and insights are considered, leading to more effective conservation efforts. We also address and mitigate human-wildlife conflicts, particularly those involving elephants, while discouraging poaching activities in our efforts to protect biodiversity. Additionally, we have been developing project proposals to solicit funds that can help alleviate the poverty of forest-dependent communities, further supporting Ethiopia’s conservation goals.
What is the situation of human elephant coexistence in Ethiopia today, and what are some of the biggest threats facing this coexistence?
Human elephant conflict in Ethiopia has become more frequent and severe over recent decades because of human population growth and the expansion of agricultural and industrial activities, which together have led to increased human encroachment on previously wild and uninhabited areas. The biggest threats facing humans are the current social and economic uncertainties. Competition for the available natural habitats and resources has increased, and the resulting ecological imbalance has negatively influenced human-elephant coexistence.
Do you remain optimistic that coexistence between people and elephants is possible in Ethiopia?
Human-elephant conflict has become a serious problem in all parts of the country, though it varies from one region or ecosystem to another. However, I am optimistic that people and elephant coexistence will improve because people have an improved understanding of wildlife resources in general and elephants in particular, including from an economic perspective, tourism advantage, as well as their ecological significance.
As the African Group of Negotiators on Climate Change (AGN) Lead Coordinators meet to strategise for the 60th session of the UN Climate Change Subsidiary Bodies (SB60), the group has highlighted the shifting dynamics in the negotiation processes and the need to be vigilant.
Interim AGN Chair, Dr. Alick Muvundika
Interim AGN Chair, Dr. Alick Muvundika, urged the group to pay particular attention and remain vigilant on the importance of established procedures within the UN climate framework to avoid being short changed.
“We have to remain vigilant and respectfully challenge manoeuvres aimed at circumventing established procedures within the UNFCCC. For example, as a group we noticed some procedural issues regarding the agenda at the first workshop under the UAE-Belem work programme on indicators for measuring progress achieved towards the targets of the Global Goal on Adaptation (GGA), where some established procedures were allegedly breached, as the agenda focused on substantive issues without prior notice to Parties. This was in addition to the nomination process, which was also characterised by non-procedural issues,” said Dr. Muvundika, when he officially opened the meeting in Bonn, Germany.
And the AGN Chair also highlighted health and climate as an emerging subject worth of the group’s active consideration, saying health was fast becoming a key agenda within the climate space in relation to the GGA framework, and called on the group to take keen interest and support African governments as they navigate the impacts of climate change on health.
“A crucial point for us to ponder under the UAE-Belem work programme is the inclusion of health as one of the thematic targets. Instead of waiting for this agenda to be set by others, we should, as a group, be actively involved and the work programme offers a window for us to input terms of how health should be mainstreamed into climate negotiations. As AGN, we have the AAI, which stands out as a shining example of our capacity to set our own agenda in these processes,” said Dr. Muvundika.
In addition to the UAE-Belem work programme, the AGN Chair further highlighted operationalisation modalities for the Loss and Damage Fund; the Just Transition work programme; Mitigation work programme; the New Quantified Goal on finance (NCQG), Joint work on Agriculture, and the unfinished business under Article 6 on carbon trading mechanisms, as some of the key priorities for Africa at the SB60 session.
With recent deadly floods in East Africa, particularly in Kenya, drought in Southern Africa, and fatal heat waves in the Sahel region, the discussions have been on what the Loss and Damage Fund can or cannot do for the African region as it continues to face climate-induced losses and damages.
“All eyes are on this process, and I have no doubt that our team on the Board is doing everything to secure Africa’s interests as the fund gets fully operationalised. Crucially, this year, central to all these discussions are the negotiations under the New Quantified Goal on finance (NCQG), which is the main theme and focus for COP29. As SBs usually set the tone for COPs, there is substantial work to be discussed under all the aforesaid thematic areas, and our full commitment and input is required,” said Muvundika.
Dr. Muvundika expressed gratitude to the AAI for its continued support to the AGN, emphasising the importance of home grown and Africa-led solutions to the climate crisis.
And speaking at the same event, AAI Technical Advisor, Kulthoum Mutsumi, emphasised the initiative’s commitment to supporting the AGN.
“The AAI was born from an idea of the AGN, supported and launched by all African Ministers and Heads of State. As you may be aware, the African Ministerial Conference on the Environment (AMCEN) gave the initiative a renewed mandate to continue supporting the African adaptation agenda and the AGN,” stated Mutsumi.
President Bola Tinubu says the three Executive Orders on oil and gas reforms will make Nigeria’s petroleum sector globally competitive.
The President in a meeting with a delegation from ExxonMobil Upstream Company
The president said this during a meeting with a delegation from ExxonMobil Upstream Company, led by its President, Liam Mallon on Tuesday, May 28, 2024, in Abuja.
He emphasised that these reforms would ensure that no oil company faces undue challenges in the country.
The three Executive Orders, which became effective from Feb. 28 are: Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order, 2024; the residential Directive on Local Content Compliance Requirements, 2024; and the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines.
Tinubu assured the delegation of the federal government commitment to resolving the divestment issues between the company and Seplat Energy, which are currently under litigation.
“We have been pushing for closure on divestment issues, and I believe the other party, Seplat, is open to this,” the president said.
Tinubu commended the company for its show of commitment to environmental protection in Nigeria, noting its efforts in reducing gas flaring in the country.
“Nigeria is going through a lot of reforms, and we have been navigating the leadership quarters carefully to ensure that we achieve a win-win situation for all parties and attract more investments,” he said.
The president described ExxonMobil as a worthy partner in Nigeria’s development over the decades and urged it to remain committed to contributing to the success of his administration.
“We are close enough to be fair and blunt with you, and we are not afraid to hear from you on better options and recommendations for the growth of the industry in Nigeria,” the president said.
The meeting, attended by Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), and Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), discussed issues such as divestment, decommissioning, and abandonment as regards the company.
“Mr. President has given a clear directive to the NNPC GCEO and I to resolve the issue of divestment, and we are doing whatever we can to achieve that,” Lokpobiri stated.
On decommissioning and abandonment in the oil industry, Lokpobiri noted that the ministry is addressing the matter in line with the Petroleum Industry Act (PIA) and global best practices.
“The reforms driven by the three Executive Orders will ensure that companies operating in Nigeria have the best environment to continue making their investments and that no company will seek to leave Nigeria,” the minister said.
Liam Mallon, the President of ExxonMobil Upstream Company, appreciated the support and reassurances provided by the Nigerian government and pledged the company’s long-term commitment to the country’s energy sector.
He also commended the president for his courage and conviction to undertake bold reforms within his first year in office.
As part of activities to mark the one-year anniversary of the President Bola Ahmed Tinubu administration, the NNPC Ltd and its joint venture partners – Shell Petroleum Development Company (SPDC), TotalEnergies, Nigeria Agip Oil Company (NAOC) – in collaboration with the Niger Delta Development Commission (NDDC), have commissioned the 25.7km Ogbia-Nembe Road in Bayelsa State.
L-R: Deputy Governor of Bayelsa State, Sen. Lawrence Ewhrudjakpo; Minister of Niger Delta, Abubakar Momoh; MD/CEO NDDC, Dr. Samuel Ogbuku; SPDC MD and Country Chair, Shell Companies in Nigeria, Mr. Osagie Okunbor; Rep of the CUIO NUIMS, Obinna Aralu; His Eminence, King Edmund Daukoru, Mingi XII, Amanyanabo of Nembe Kingdom; and His Eminence, King Dumaro Charles Owaba, The Obanobhan III of Ogbia Kingdom, during the commissioning of the 25.7km Ogbia-Nembe Road in Bayelsa State, on Monday
The project, valued at N24.5 billion, traverses mangrove forests with seven bridges and five culverts, and connects 14 communities.
Speaking at the commissioning ceremony which held at Nembe on Monday, May 27, 2024, the Minister of the Niger Delta, Abubakar Momoh, who represented President Bola Ahmed Tinubu, said the project was in alignment with the President’s “Renewed Hope Agenda” for sustainable development in the Niger Delta region in particular and Nigeria in general.
“This project is evidence of what good partnerships can bring to communities,” the President said, urging other oil companies to collaborate with the NNPC Ltd and the NDDC to deliver transformative projects.
Earlier in his remarks, the NNPC Chief Upstream Investment Officer, Mr. Bala Wunti, who was represented by Mr. Obinna Aralu, expressed satisfaction with the completion of the road, describing it as “a testament to the power of collaboration and shared vision”.
He said the road was more than just infrastructure as it symbolizes progress, connectivity, and opportunities for the Nembe people through seamless transportation, increase in economic activities and general improvement in the quality of life.
Wunti also thanked all the partners and stakeholders for their contributions to the successful delivery of the project.
On his part, the Managing Director of SPDC and Country Chairman of Shell Companies in Nigeria, Mr. Osagie Okunbor, highlighted the transformative impact of the project, stressing that it “will connect communities to the city centre, boost economic activities, and reduce risks associated with river transport.
Okunbor reiterated Shell’s commitment to partnering with government agencies to deliver projects that are beneficial to the people of the Niger Delta region and Nigeria.
Also speaking, the Managing Director of NDDC, Dr. Samuel Ogbuku, said the commission was dedicated to completing projects across the Niger Delta region that serve the urgent needs in the communities.
The Bayelsa State Governor, Senator Douye Diri, who was represented by his Deputy, Senator Lawrence Ewhrudjakpo, commended the NDDC, NNPC Ltd and its partners for the project.
The epoch-making event was attended by top government officials and traditional rulers from Bayelsa State, including the Senate Committee Chairman on Niger Delta, Sen. Asuquo Ekpeyong; Chairman of the House of Representatives Committee on the Niger Delta, Erhiatake Ibori-Senu; Chairman of NDDC Governing Board, Mr. Chiedu Ebie; the Amayanabo of Nembe Kingdom, King Edmund Daukoru, Mingi XII; and the Obanobhan of Ogbia Kingdom, King Dumaro Charles Owaba III.
According to the promoters, the completion and commissioning of the Ogbia-Nembe Road mark a significant milestone in the ongoing efforts by the NNPC Limited and its partners to enhance infrastructure and promote sustainable development in the Niger Delta region.
The Ugandan police force on Monday, May 27, 2024, arrested eight activists marching to the Chinese Embassy in Kampala to deliver a protest letter against the East African Crude Oil Pipeline funding.
StopEACOP campaign
National Association of Professional Environmentalists (NAPE) says it is concerned that, instead of being engaged meaningfully, they were arrested. It says this kind of humiliation and inhuman treatment is not only a human rights abuse but also has no place in the modern world and should be condemned at all costs.
“Use of excessive force to arrest peaceful and unarmed civilians is a big shame to a civilian force like police and violates the Ugandan constitution. NAPE strongly warns and calls upon the police to stop this harassment and intimidation of environmental activists and calls for unconditional release. NAPE maintains that detaining environmentalists for protesting is unlawful, and culprits should be punished,” said Frank Muramuzi, the Executive Director of NAPE.
In any case, this EACOP and other oil development projects are public investments that should be kept under scrutiny by the citizens. If these investments are to come at a cost of denying citizens their rights, then they need to be fought at any cost, Muramuzi added.
“OilWatch Africa supports the call release of the detained activists and frowns at the harassment of citizens fighting for the rights of Africans to a safe environment as enshrined in Article 24 of the African Charter on Human and Peoples’ Rights.”
The initiative will emphasise the crucial role of nature and expand nature-based solutions to combat environmental degradation. Photo credit: UNDP/Timor Leste
The initiative aims to emphasise the crucial role of nature and expand nature-based solutions to combat environmental degradation in three key sectors: urban development, food production, and tourism. Targeting 15 SIDS, the programme seeks to foster nature-positive changes.
Managed by the UNDP and funded by the GEF and partners, this effort is said to represent a new wave of support for SIDS as they embark on the Decade of Action from 2024 to 2034.
The BGI-IP will support 15 SIDS, selected through a competitive “Expressions of Interest” process, representing all SIDS sub-regions: the Caribbean; the Pacific; and the Atlantic, Indian Ocean, and South China Sea (AIS).
The BGI-IP will provide communities with the resources to expand successful initiatives that solve challenges faced by local people. The programme will support sustainable agriculture and fisheries, promote nature-friendly tourism, reduce pollution, and improve resilience to extreme weather events.
In partnership with UNEP, FAO, the World Bank, WWF-US, IUCN, and UNCCD, among others, the initiative will provide a crucial and substantial means of support for sustainable economic diversification and job creation.
“SIDS are on the frontlines of climate change and nature loss as they face harsh realities of sea level rise, more unpredictable weather patterns, and degraded ecosystems, yet their unique situation also means that they are also driving forward a remarkable range of innovative and interconnected solutions,” said Achim Steiner, UNDP Administrator.
“With the invaluable support of the Global Environment Facility, the Blue and Green Islands Program will serve to scale up nature-based solutions in the food, tourism, and urban sectors that help shift key sectors from nature-negative to nature-positive — improving the daily lives of people on small islands and helping to revive the health of our natural world,” Steiner added.
“Nowhere is the connection between a strong economy, a healthy environment, and a healthy people, clearer than in the SIDS. Given their unique vulnerabilities to loss of biodiversity, plastic and waste pollution, and climate and socio-economic changes and shocks, SIDS are the best incubators of innovation for sustainable development with many initiatives that can have substantial impact on the planet and the people,” said Carlos Manuel Rodríguez, GEF CEO and Chairperson.
“The Blue and Green Islands Integrated Program is designed to respond to the need for usable information on nature and ecosystems among decision-makers and securing resources for impactful initiatives, while building connections across vast oceans to create greater results,” added Rodríguez.
Selected through the “Expressions of Interest” process, the 15 SIDS, out of 39 in total, are: Belize, Cabo Verde, Comoros, Cuba, Maldives, Mauritius, Micronesia, Palau, Papua New Guinea, Saint Lucia, Samoa, Seychelles, Timor Leste, Trinidad & Tobago, and Vanuatu.
The BGI-IP is one of several interconnected programmes designed to move the needle toward system transformations in line with national priorities. The GEF invests in Integrated Programmes to tackle drivers of environmental degradation and address multiple systemic threats at once, such as those driven by cities, food systems, plastics, and forest land use. GEF support for a dedicated coordination platform offers technical support and national-level capacity for integrated solutions and leverages external funding opportunities for impactful outcomes across multiple scales.
Aligned with the Antigua & Barbuda Agenda for SIDS (ABAS) and the next Decade of Action, the BGI-IP will target key barriers and shift levers to transform the way ecosystems are protected and sustainably managed in SIDS, generating vital global environmental benefits over time.
Dangote Cement Plc says it is committed to transitioning all its trucks to run on Compressed Natural Gas (CNG) by 2025, as a significant step toward cleaner energy adoption in Nigeria.
L-R: Chairman, Dangote Cement Plc, Aliko Dangote; Non-Executive Director, Dangote Cement Plc, Abdu Dantata; Group Managing Director, Dangote Cement Plc, Arvind Pathak; Non-Executive Director, Dangote Cement Plc, Olakunle Alake; and Non-Executive Director, Dangote Cement Plc, Devakumar Edwin, at the 15th Annual General Meeting (AGM) of Dangote Cement Plc, in Lagos on Tuesday
It said that the gesture is a strategic move that aligns with the Federal Government’s agenda on promoting alternative energy for vehicles across the country, as well as reducing the nation’s dependence on fossil fuels.
Alhaji Aliko Dangote, Chairman, Dangote Cement Plc, made the assertion during the company’s 15 Annual General Meeting (AGM) on Tuesday, May 28, 2024, in Lagos.
The President Bola Tinubu-led administration, just one year in office, had announced plans to launch 2,700 CNG buses and tricycles to cushion the impact of fuel subsidy removal on ordinary Nigerians.
Dangote stated that the company decided to support the Federal Government’s quest to reduce dependence on fossil fuel, thereby enhancing the nation’s energy independence and contributing to a more secure energy future.
“We are now going to start using CNG vehicles, especially with the new policy of the Federal Government, launched by the Renewed Hope Agenda by His Excellency, President Bola Tinubu.
“By the end of next year, all our trucks that are operating in the company will be running on CNG, and that is a whole lot of money that we are going to invest.
“But we are equal to the task, and we will continue to push and make sure that we continue to make our shareholders happy,” Dangote said.
He also declared an increase of 50 per cent on dividend payout to shareholders, from N20.00 per share paid in the 2022 financial year to N30.00 for the last financial year ended Dec. 31, 2023.
Dangote said that the company achieved double-digit growth in revenue of N2,208.1 billion, while group Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) reached a record high of N886.1 billion, increasing by 25.1 per cent.
He said the 2023 results showed that Africa’s largest cement manufacturer recorded improvement in all performance measurement indicators with group revenue rising by 36.4 per cent to N2,208.1 billion.
He added that the company’s Profit After Tax (PAT) was up by 19.2 per cent to N455.6 billion while earnings per share went up by 18.8 per cent at N26.47.
Dangote noted that the company’s impressive performance was in fulfilment of the promise and enhanced Return on Investments (RoI) to its shareholders and other stakeholders, assuring them that next year would even be better.
The business mogul revealed that efforts were ongoing to ramp up production with the construction of a new plant of 6 million metric tonnes per annum at Itori, Ogun State.
“This outstanding EBITDA performance was underpinned by our robust cost control measures and our diverse pan-Africa operations.
“The latter acted as a cushion, providing resilience to country-specific risks, while the former enhanced our overall profitability.
“Our pan-Africa operations now contribute 41.2 per cent to the group’s overall volumes and we made significant strides in our expansion initiatives, with the successful launch of operations at our 0.45Mta grinding plant in Ghana, increasing our total installed capacity to 52.0Mta.
“Furthermore, our 1.5Mta grinding plant in Côte d’Ivoire is making substantial progress and is nearing completion and lastly, we have commenced construction on our 6Mta Itori plant in Ogun State, a crucial step in supporting our ambitious export goals,” he said.
Group Managing Director, Dangote Cement Plc, Mr Arvind Pathak, said that 2023 was yet another testament to the effectiveness of the company’s management’s diversification strategy, in spite of the challenging macroeconomic conditions.
Pathak said that in response to the heightened inflationary environment, the company implemented new and innovative business strategies that helped to drive up revenues, contain costs, and protect margins.
These initiatives, he stated, included fuel mix optimisation, propelling the use of alternative fuels to replace more expensive fossil fuels.
“We also began the phased transition from diesel power trucks to full Compressed Natural Gas (CNG) trucks,” he said.
Mrs Bisi Bakare, Chairperson, Pragmatic Shareholders Association, lauded the company for what she described as a huge dividend payout even when many other companies could not pay their shareholders a dime because they declared losses.
She stated that the shareholders were happy, and expressed optimism that with the way the management has steered the company in the face of the current economic downturn, the 2024 dividend will be higher.
Also, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar, appreciated the company’s board and management for a job well done.
He commended Dangote for his patriotism and dedication to the cause of Nigeria and her people with his decision to reduce the prices of his petroleum products.
He expressed hope that the price of Premium Motor Spirit popularly called petrol would come down once the Dangote Refinery rolls out the product soon.
