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"Synergy, Commitment Are Key to Global Energy Sustainability, Says Bounour

By Favour Ifeoluwa & Akinola Ajibade  The Chief Executive Officer, Egbin Power Plc, Mr Mohktar Bounour says global transition to cleaner energ and sustainable environment are achievable, as long as there is strong synergy and commitment among stakeholders in the value chain.  He spoke during the maiden edition of  Asharami Square in Lagos. This is an initiative introduced and implemented by the Sahara Group, in order to amplify discourse on energy sustainability through  media advocacy globally. He said: " Having analyzed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and transportation, we are realised that there is need for synergy  and renewed commitment among stakeholders". According to him, Egbin Power has unwavering commitment to reduce carbon emissions and promotes sustainable energy sources, stressing that the need to depeening engagement and advocacy among stakeholders in
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NNPCL commends Fed Govt over subsidy removal

Kyari


(By Favour &Akinola Ajibade)


The National Petroleum Company Limited NNPCL, yesterday, applauded the decision of the 
Federal Government to remove fuel subsidy completely in the country.
The Corporation said the development would pave way for the product availability in Nigeria.
This is coming on the heels of the announcement made by President Bola Ahmed Tinubu that payment of subsidy on petroleum products has come to an end in  Nigeria. 
The President made the statement, in Abuja yesterday ( Monday) while delivering his innugural speech as the 16th Commander-In-Chief of the Country's Federal Armed Forces.
According to him, subsidy can no longer justify its ever increasing costs in the wake of drying resources.
Similarly, the Company 's Group Chief Executive Officer( GCEO),  Mallam Mele Kyari  noted that the removal of subsidy on Premium Motor Spirit, PMS, also called petrol, which lead to cash flow in the sector and further optimise its operations.
He assured Nigerians of sufficient supply of the product, adding that NNPCL is also monitoring all its distribution networks to ensure compliance.
News Mirror, had in its earlier reports, said that the Federal Government will generate a minimum of N10trillion annually from the removal of petrol subsidy. The medium in a story attributed to the 
Chief Executive officer, Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf,  noted the issue would lead to elimination of the Central Bank of Nigeria (CBN)-subsidised foreign exchange window. 
"Elimination of fuel and foreign exchange subsidy will save Nigeria a total of N10trillion annually (N7trillion and N3 million respectively). This coupled with the fact that the nation's 
foreign exchange policy reform would assist in unlocking  inflows of capital into the economy, reduce arbitrage in the forex market and improve transparency in the forex allocation. 
The  former Minister of State for Petroleum Resources, Timipre Sylva, in a separate analysis of the sector's growth, noted that the removal of subsidy  would save Nigeria over N1 trillion annually. 



















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