Bavijas Weekly — #212

An aerial view of Lagos blue rail line, Source: Vanguard

Hello, esteemed reader.

Welcome to the weekend edition of the Bavijas newsletter. It's Emmanuel Fred here. 

In a rapidly evolving industry such as energy, it is important to read the news and stay vigilant. Knowledge about virtually all facets of energy doubles every year, hence why you should keep your ears to the ground.

At Bavijas, our dedicated and smart team of energy researchers are always on the ground to bring you up to speed with our unbiased analyses on relevant issues bordering Nigeria and across the world. 

We scour several local and international news platforms (at least 20) so we can have what to tell thousands of our readers each week. We don't do mindless lifting.  

Here is what we do: We follow energy stories, critically read and discuss them, verify the facts, and thoughtfully analyse them after exercising a holistic understanding of the issues at hand.

We don't just write. Every news story we share with you has our corporate signature on it. 

So enjoy!

HERE’S WHAT YOU SHOULD KNOW THIS WEEK:

➡️ No one comes close to China on this one. The Communist nation has installed more EV chargers than 70% of the rest of the world. This is forward-thinking and anyone who feels Beijing is overspending on that should kiss the mud.

➡️ Petrol: What are you waiting for? Are you still running your power generator on this costly petrol? Why not join other Nigerians to switch your generator to gas? Testimony abounds. But then you would need an experienced technician to work on the carburettor.

➡️ U.S is interested in Nigeria’s energy transition: America has expressed interest in partnering with Nigeria in its energy transition, security, access and reliability plan. Interest is not enough, we want to see action.

➡️ Maybe US was wrong about Wagner Group. In the early months of the war in Ukraine, America had accused Russia of using the Wagner mercenaries to rein in attacks on Ukraine but that may not have been, as the rebel group are now seen  attacking Moscow and seizing a key military base last Saturday. Putin’s Russia is now faced with two challenges: to defeat the revolt and head off the threat of civil war, and continuing its so called “special military exercise” in Ukraine.

➡️ They aren't only missing but dead. All five British billionaire tourists on board the submarine on an expensive weeklong trip to the Titanic shipwreck site underwater have died, Coast Guards say. Massive rescue efforts launched to fetch them alive failed.

➡️ $7 billion: Bill Gates never stops being kind. The American billionaire and co-founder of the Bill and Melinda Gates Foundation has said his foundation will commit $7 billion to Africa in the next four years, a part of which will help to support the fight against polio in Nigeria. If you know what the polio figure is like for Nigeria, then you should be clapping already for that gentleman.

➡️ N786 billion: That was the size of the federal allocation shared among three tiers of government for May. The Federation Account Allocation Committee (FAAC) has accused the NNPCL of owing over N2.1 trillion from crude sales, royalties, and taxes, whereas the NNPCL says the federal government owes it over N4.2 trillion in subsidy payments, etc. It is an economic bout between the two but President Buhari has appointed an independent committee to reconcile the accounts.

➡️ Electricity: Civil society groups in Nigeria oppose the July 1 40% electricity tariff hike in Nigeria.

➡️ Africa for Africa. That was the theme of the 25th edition of the Africa Energy Forum (AEF) that ended yesterday June 23 in Kenya. That was the first time the highly anticipated annual event made it to mainland Africa.

➡️ Energy crisis: Nigeria needs $34.5bn investments to provide electricity access by 2030. This is according to a report by the Renewable Energy Roadmap Nigeria. I’m still thinking where such amount will come in from.

➡️ Lagos blue rail line to start passenger services in August. The Lagos Metropolitan Area Transport Authority (LAMATA) has said. Recall, phase 1 of the laudable project was commissioned by former president, HE Buhari.

➡️ New naval chief vows to curb crude oil theft, clamp down on illegal refineries as well as unregulated fishing. According to him, the menaces were not just threats to Nigeria’s maritime security, but also her economic stability and national development. Emmanuel Ogalla is the 22nd indigenous naval chief in Nigeria.

Our best wishes,

Written and Edited by Emmanuel Fred and Daniel Bassey

P.S. You may share with friends and colleagues if you find it insightful.