IMF In Talks With Ivory Coast On $2.6 Billion Lending Aid

 

 

By Ebi Imisi

 

The International Monetary Fund (IMF) said on Wednesday that it expects to reach a $2.6 billion lending agreement to assist Ivory Coast face ongoing economic challenges "in the coming days."

 

The IMF announced in a statement following a visit to the country by senior officials that Indirect and direct subsidies to curb price pressures, higher security spending, and worsening terms-of-trade amid robust domestic demand, led to a widening of macroeconomic imbalances in Ivory Coast last year.

 

In response, the Fund said it expects to finalize a staff-level agreement worth more than $2.6 billion in the coming days.

 

Wednesday's announcement comes following a request for financial assistance by the Ivoirian government.

 

The Fund's proposals, which would require approval by the IMF Executive Board, are aimed at "preserving fiscal and debt sustainability," by making a number of structural reforms to the Ivoirian economy.

 

‘‘These would include strengthening social protection for vulnerable households, improving public financial management and investment efficiency, and promoting private-sector led and more inclusive growth by creating new employment opportunities," the Fund said.

Census Critical For Development - Gov. Diri

 Inaugurates Committees On 2023 Headcount 

By Our Correspondent

Governor of Bayelsa State, Senator Douye Diri, on Wednesday, inaugurated two  committees to synergise with the National Population Commission (NPC) on the forthcoming national population census exercise. 

They are the Publicity/Mobilisation Committee, which has the Secretary to the State Government, Alabo Gideon Ekeuwei, as chairman and the Logistics/Security Committee with the Chief Security Co-ordinator of the State Community Safety Corps, Brig-Gen. Eric Angaye (rtd) as chairman. 

Governor Diri, who inaugurated the committees in Government House, Yenagoa, described population census as a critical ingredient for development hence the need for the government to plan towards a hitch-free exercise in the state.

The governor said while a new date is expected from the NPC for the conduct of the exercise, the government would leave no stone unturned to get the exact population of the state.

His words: “It is important that we know exactly who we are and how many we are. In modern times, accurate population figures is a critical ingredient for development. Even in our homes, it would be shameful for a father not to know the number of children he has. Therefore, population census is one activity that will continue as long as there is life. 

“We are gathered to inaugurate two committees in respect of the forthcoming population census in our country, which was initially slated for March 29. We need to put our house in order while we await the federal government and its agency, the NPC, to come up with a new date.

“These committees are to work hand in gloves with the National Population Commission and all those who will be here to implement the federal government population policy across the country and in particular our state.”

Other members of the Publicity/Mobilization Committee are the Commissioners for Finance, Budget and Economic Planning, Youth and Sports, Information, Orientation and Strategy, and their Women, Children and Social Development counterpart.

Also in the committee are the Commissioners for Local Government, Community Development and Chieftaincy Affairs,  Special Duties for the three senatorial districts as well as the chairman of the Traditional Rulers Council and the Chief Historian and Archivist.

The committee on Logistics/Security also has the Commissioners for Transport, Special Duties (East, West and Central senatorial districts), and the Special Advisers on Security Matters.

Also in the committee are the Bayelsa State Commissioner of Police, Commander, 16 Brigade of the Nigerian Army and the Commander, Nigeria Naval Ship (NNS) Soroh.

Others are the State Director, Department of State Services, all Police Area Commanders, Divisional Police Officers and all Heads of Local Government.

Responding on behalf of the committees, the Secretary to the State Government, Alabo Ekeuwei, pledged their support, commitment and cooperation in ensuring that the census exercise in the stated was properly conducted.

Humanitarian ministry has supported the rehabilitation, reintegration of repentant insurgents in the northeast - Farouq

 

 

By Ebi Imisi

 

The Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq has disclosed that the Ministry has contributed immensely to the non-kinetic strategy of managing surrendered insurgents for their rehabilitation and reintegration process in the North East.

 

The Minister made this known at the opening ceremony of the 3-Day Seminar on Rehabilitation of Repentant Insurgents in the North East, organised by the Ministry and Office of the National Security Adviser in collaboration with the Nigeria Army Resource Centre, in Abuja.

 

According to her, Food and non-food items, including starter packs, have been contributed for the rehabilitation and reintegration of the ex-combatants directly by the Ministry and some of its Agencies, NEDC, NEMA, NCFRMI.

 

Speaking through her representative, the Permanent Secretary of the Ministry, Dr Nasir Sani- Gwarzo, mni, NPOM, she said the Ministry recently conducted a survey on victims of terrorism with the view to identifying and providing the needed psychosocial support to the affected persons. 

 

‘‘In search of sustainable humanitarian response, the Ministry has adopted the United Nations principle of Tripple Nexus approach which provides linkages to humanitarian response that leads to development as well as peace building’’

 

Also, Farouq explained that the ministry leading other relevant MDAs and organization have developed a home-grown National Humanitarian Development Peace framework which provides a holistic response while applying area-based approach.

 

‘‘This is expected to guide all humanitarian response in Nigeria and we hope the outcome of your deliberation will align with the framework". She said.

 

The Minister stated that the insurgency in the NE has brought about untold hardship, destruction and loss of lives to the people of the North East and the 3-Day seminar is aimed among other things to examine modalities for the management of surrendered terrorist in the North East.

 

"For the Ministry, this seminar is very apt because it provides a veritable platform to share lessons learnt from various activities we have implemented in the past, identify gaps and come up with roadmap for future interventions. It all showcases a good practices of civil security relationship in providing sustainable humanitarian intervention".

 

She urged participants to take the seminar serious and give it the best attention it deserves.

 

Meanwhile, Borno State Governor, Prof. Babagana Zulum, in a keynote address gave an overview of the management and reintegration of surrendered Boko Haram and Islamic West Africa Province terrorists in the North East.

 

Represented by his Special Adviser on Security Matters, Brig. Gen. Sabi Ishaq, (RTD), the governor discussed the operations and activities of the insurgents and reasons for their mass surrender and how they were encouraged to drop their guns and embrace peace.

 

He stated the need for more support from the Federal government and Donor agencies towards the rehabilitation and reintegration of repentant insurgents.

 

Earlier, the Director General, Nigerian Army Resource Centre, Maj. Gen. G.A Wahab (RTD), said the seminar was on handling and management of repentant insurgents in the North East.

 

Wahab stressed the need on how to manage the huge number of repentant insurgents before their reintegration into the society.

 

 

 

 

Burkina Faso: Govt Orders Immediate Closure Of 43 Artisanal Gold Mines Due To Security Concerns

 

 

By Ebi Imisi

 

The authorities of the Boucle du Mouhoun, in the northwest of Burkina Faso, have ordered the closure of 43 gold mining sites for "security reasons" as of Wednesday, in this region plagued by jihadist violence.

 

In an order published on Wednesday, Regional governor Babo Pierre Bassinga lists 43 artisanal gold mining sites in 13 communes that are closed until further notice.

 

According to a security source contacted in the region, the move was necessitated to reduce explosion on such sites.

 

"This response to the need to limit or even reduce to zero the traffic of explosives on these artisanal sites which are very often diverted to the benefit of armed terrorist groups

 

"It is also a question of drying up the sources of income of these groups, some of which hold to ransom the mining sites which are beyond the control of the state," the source said.

 

Also, the regional governor, Bassinga stated that anyone contravening the provisions of the decree will face criminal sanctions.

 

About Boucle du Mouhoun region

The Boucle du Mouhoun region, which borders Mali, is regularly hit by deadly attacks by jihadist groups linked to al-Qaeda or the Islamic State.

 

Despite an official ban on artisanal gold panning, which regularly causes deadly landslides, the Burkinabe authorities are struggling to control this unregulated exploitation, carried out by more than one million people, according to official figures.

 

In early February, at least 10 people were killed when a small-scale gold mine in western Burkina Faso collapsed, according to officials of a gold miners' association.

 

A year earlier, a dynamite stockpile exploded at an artisanal gold site in western Burkina Faso, killing about 60 people.

 

With approximately 70 tons per year, the production of legal gold mines has become Burkina Faso's leading export product in a dozen years, ahead of cotton.

 

The artisanal sector generates additional annual production of about 10 tons of gold, according to the Ministry of Mines.

 

Burkina Faso, the scene of two military coups in 2022, has been caught since 2015 in a spiral of jihadist violence that began in Mali and Niger a few years earlier and has spread beyond those borders.

 

In seven years, the violence has left more than 10,000 civilians and soldiers dead, according to NGOs, and some two million people internally displaced.

I'll Address Nigerians Shortly, - Peter Obi

 

 

By Our Correspondent

 

The Labour Party presidential candidate, Peter Obi, has stated that he will soon address Nigerians and the international community.

 

He made this known in a tweet on Wednesday, where he stated that his running mate, Datti Baba-Ahmed, was addressing an international press conference at the party's headquarters in Abuja.

 

Obi wrote, "Our Vice presidential candidate Dr. Yusuf Datti Baba-Ahmed, is addressing an international press conference at the Labour Party Headquarters in Abuja.

 

"I intend to address Nigerians and the international community shortly."

 

This is coming hours after his All Progressive Congress counterpart, Bola Tinubu, was announced as the presidential election winner.

Energy Vault launches Gravity-based energy storage

By Olaborede Olugbenga Israel

The gravity-based system mentioned above has been devised by a company called Energy Vault. It uses the energy produced when renewable generation is high to raise 30-tonne bricks into the air inside a special building.

Why? Well, elevating the bricks results in them storing what is known as potential energy. This is similar to the kind of energy held in a spring when you stretch it – releasing the spring releases the energy stored. In the case of the Energy Vault system, once the raised brick is lowered, it releases kinetic energy that can be fed into power grids.

The blocks are all stored within modular buildings that can be built up in units of 10 megawatt-hour to whatever size is required.

Pumped hydro energy storage

Hydropower is by far the world’s biggest source of renewable electricity generation.

Hydropower accounts for more than 60% of global renewable energy generation.

Hydropower accounts for more than 60% of global renewable energy generation. Image: Our World in Data

Pumped hydroelectric storage operates according to similar principles to gravity-based energy storage. It pumps water from a lower reservoir into a higher reservoir, and can then release this water and pass it downwards through turbines to generate power as and when required.

Water is pumped to the higher reservoir at times when electricity demand and prices are low. It is released when electricity demand rises.

Pumped hydroelectric storage. renewable energy

Pumped hydroelectric storage operates according to similar principles to gravity-based energy storage. It pumps water from a lower reservoir into a higher reservoir, and can then release this water and pass it downwards through turbines to generate power as and when required. Water is pumped to the higher reservoir at times when electricity demand and prices are low. It is released when electricity demand rises. Image: International Hydropower Association

Pumped storage hydropower makes up 94% of the world’s energy storage, the International Hydropower Association says, adding that studies suggest a significant potential to scale this up even further.

What about storing energy in compressed air?

While pumped hydro moves water upwards, compressed air energy storage (CAES) involves moving energy underground.

It works by using surplus power to run a rotary compressor that condenses air. This highly pressurized air is then packed into an underground cavern or container and can later be released, heated and expanded in a turbine to generate power.

Compressed air energy storage. renewable energy

Compressed air energy storage involves moving highly pressurized air into underground caverns. Image: European Association for Storage of Energy

This approach has been in use since the 1870s, but there are only two commercial-scale CAES plants in operation worldwide – one in the US that was commissioned in 1991 and one in Germany that launched in 1978.

Renewable energy cannot provide steady and interrupted flows of electricity – making energy storage increasingly

By Kolawole Yemisi Victoria

The world is set to add as much renewable power over 2022-2027 as it did in the past 20, according to the International Energy Agency.

This is making energy storage increasingly important, as renewable energy cannot provide steady and interrupted flows of electricity.

Here are four innovative ways we can store renewable energy without batteries.

Giant bricks are not what most people think of when they hear the words “energy storage”, but they are a key element of a gravity-based system that could help the world manage an increasing dependence on renewable electricity generation.

Global renewable capacity could rise as much in 2022-2027 as it did in the previous 20 years, according to the International Energy Agency. This makes energy storage increasingly important, as renewable energy cannot provide steady and interrupted flows of electricity – the sun does not always shine, and the wind does not always blow. As a result, we need to find ways of storing excess power when wind turbines are spinning fast, and solar panels are getting plenty of rays.

Batteries would seem to be the obvious solution, but there are several obstacles to be overcome first, including high prices and a lack of standardization around technical requirements, as Deloitte points out.

Here are four innovative ways we can store renewable energy without batteries.

Total renewable electricity capacity additions, 2001-2027

Graph showing the renewable electricity capacity additions

Global renewable capacity could rise as much in 2022-27 as it did in the previous 20 years.