News
Namibia’s Oil Discoveries Draw Major Investments from Global Energy Firms
Namibia’s energy sector is witnessing a surge in investment, fueled by substantial oil discoveries and a growing focus on green hydrogen. Prominent oil companies, including TotalEnergies and Shell, are actively engaged in exploring and developing the country’s offshore oil reserves.
The European Union is providing significant funding to bolster Namibia’s green hydrogen initiatives and renewable energy projects. Meanwhile, the energy minister has underscored the vital role of oil and gas revenues in driving economic growth and reducing poverty.
In recent years, Namibia has attracted considerable investment due to promising oil finds, particularly in the Orange Basin, Luderitz, Kavango, and Walvis basins. TotalEnergies and Shell have announced discoveries amounting to an estimated 2.6 billion barrels of crude, with plans to initiate production by the end of the decade.
Chevron is also set to begin exploration this year after securing an 80% operating interest in an offshore block in the Walvis Basin. Additionally, Eni and BP’s Azule Energy, along with Rhino Resources Namibia, will explore opportunities in the Orange Basin.
Portuguese firm Galp has completed the initial phase of exploration on its Mopane wells, estimating the field could contain over 10 billion barrels of crude. To date, 12 major oil companies have expressed interest in Namibia’s promising oil assets.
News
TCN Acknowledges 7th Grid Collapse in 2024
The Transmission Company of Nigeria (TCN) has reported its seventh partial grid collapse in 2024. Despite the recurring issue, TCN’s General Manager of Public Affairs, Ndidi Mbah, reassured the public that efforts to restore power are well underway, with about 90% of substations receiving bulk power.
Mbah noted that the Azura Power Station initiated the grid recovery, although a minor setback occurred. However, power supply has been restored to the Abuja region and other key distribution centers. The Ibom Gas Generating Station remained unaffected, continuing to supply power to the South-South region.
An investigation into the cause of the collapse will commence once full grid restoration is achieved.
News
Jigawa Tanker Tragedy: Shettima, First Lady Mourn Victims, Pledge Federal Support
Vice President Kashim Shettima has expressed deep sorrow over the tragic tanker explosion in Jigawa State, which claimed over 100 lives. In a statement issued by his media aide, Stanley Nkwocha, Shettima, on behalf of President Bola Tinubu, extended condolences to the affected families, praying for strength and comfort in their time of grief.
Shettima assured the public that the federal government is mobilizing resources to support the injured and assist those affected. He has directed the immediate deployment of the National Emergency Management Agency (NEMA) to provide aid. The Vice President also stressed the need for a review of fuel transportation safety protocols to prevent future incidents.
In a separate statement, First Lady Oluremi Tinubu offered her condolences to Jigawa Governor Umar Namadi and the people of Jigawa, praying for peace and comfort for the families affected. She called the incident “unfortunate” and extended prayers for the recovery of the injured and the repose of the souls lost in the tragedy.
News
Nigeria Customs Intercepts Arms, Ammunition Worth N9.5bn Over Six Years
The Nigeria Customs Service (NCS) has revealed that it intercepted a total of 10,598 pieces of arms and 114,929 rounds of ammunition valued at N9.58 billion over the past six years. Comptroller General of Customs, Bashir Adewale Adeniyi, made this disclosure during a press conference on enforcement activities in Zone A.
Adeniyi highlighted that 60% of these seizures occurred in 2023, reflecting the Customs’ increased efforts to curb arms smuggling. He also mentioned that recent operations such as Operation Whirlwind and Operation Swift Sting are part of a strategic response to tackle evolving smuggling tactics.
In addition to arms seizures, the Customs CG announced the largest pangolin scale seizure since 2020, with 9,493 kg of scales confiscated in collaboration with the Wildlife Justice Commission. The joint operation led to four arrests across Kano, Kaduna, and Lagos. The NCS continues to intensify efforts against wildlife trafficking, targeting supply routes in northern Nigeria and border areas.
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