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NNPC seeks financing for Gas Project in USA

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Malam Mele Kyari

The Nigerian National Petroleum Company Limited (NNPC) said it has opened talks with the United States Finance Corporation and Exim Bank to seek financing for its multi-billion-dollar gas projects.

The Group Chief Executive Officer of the NNPC Limited, Mele Kyari, disclosed this at the Nigerian International Economic Partnership held in New York.
Kyari said: “Inclusion (in energy transition) means that we need to be supported. We are already talking to the US DFC, the EXIM so that they can give us financing and funding for our gas projects and this is very critical, so that we can have that flexibility to move forward and at the back of this.

“I’m sure some of you may be aware that today, we are getting a grant to build baseline carbon emission studies in our country by the United States Government and this is very helpful in the sense that Mr. President has also asked that we need to be supported. Currently, the major source of financing we are having is from the African Exim.”
Nigeria’s transition to net zero by 2060 requires enormous investments in gas projects which is the country’s transition fuel.

Kyari however said Nigeria was looking for opportunities to leverage on the enormous gas resources in the country to provide the possibility that is required for the energy transition.
It would cost $410 billion to transit, according to the federal government and huge gas projects like the recently signed Memorandum of Understanding (MoU) between the NNPC, ECOWAS Commission and Morocco to deliver pipelines along the African corridor would gulp billions of dollars.

“We are embarking on massive infrastructure and to see how we can deliver the Morocco gas pipeline which will pass through a number of countries to provide a number of securities including bringing people out of poverty and also an opportunity that are there that we are doing also in the domestic market, increasing more gasses in the domestic market,” he said.

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Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters

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Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters

Jubilant supporters celebrated Donald Trump’s apparent victory in Florida early Wednesday as he claimed a return to the White House, despite most major news networks holding off on officially calling the race.

At an event in Palm Beach, Trump supporters reveled in the win projected by Fox News, cheering as the former president declared a “political victory that our country has never seen before.”

“I feel extraordinary,” said 68-year-old supporter Ted Sarvanis, dancing with arms in the air. “This is the greatest American political story in the history of the country.”

Joined by running mate J.D. Vance, Trump took the stage, celebrating his projected win. The atmosphere at the convention center was electric, with supporters sporting “Make America Great Again” caps and mingling in formal attire and Trump-themed clothing.

“I feel relieved. I was a little bit scared because you never know how things are going to turn out,” said Stacy Kurtz, 45.

In contrast, a far different scene unfolded for Vice President Kamala Harris’s supporters at Howard University in Washington, where they were hoping for a Democratic win.

As the night wore on and Trump gained electoral votes in key battleground states, disappointment swept through the crowd.

“I am scared, I am anxious now,” said Charlyn Anderson earlier in the evening.

Democratic watch parties in places like Atlanta and Pennsylvania grew somber as results rolled in, with Lynn Johnson, 65, expressing concern, “It’s going to be dangerous if he wins. I don’t feel safe.”

While Trump’s supporters celebrated a comeback, the mood among Democrats was marked by worry and disbelief.

“He’s a terrible candidate, so it just doesn’t make sense,” said Harris supporter Ken Brown.

The contrasting scenes highlighted the nation’s deep political divide on election night.

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Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties

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Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties

President Bola Tinubu has extended warm congratulations to President Donald Trump on his re-election as the 47th President of the United States, expressing optimism for stronger ties between Nigeria and the U.S. in an era of global challenges.

The congratulatory message, issued by Tinubu’s Special Adviser on Information & Strategy, Bayo Onanuga, emphasises the Nigerian leader’s hopes for a renewed partnership between the two nations.

Following his victory on Wednesday, Trump pledged to “heal” the country, marking a stunning political comeback as he edged past Kamala Harris in a closely contested election.

Tinubu, in his message, affirmed, “Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.”

Tinubu highlighted that Trump’s return to the White House reflects the trust and confidence of the American people in his leadership, praising their commitment to democracy.

Given Trump’s experience from 2017 to 2021 as the 45th President, Tinubu foresees a new era of “earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States.”

The Nigerian President also expressed confidence that Trump’s leadership will contribute to peace and prosperity worldwide, acknowledging America’s significant influence on global affairs.

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Peter Obi Calls for Lasting Solution to Nigeria’s Power Crisis

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Peter Obi Calls for Lasting Solution to Nigeria’s Power Crisis

Former presidential candidate Peter Obi has urged the federal government to find lasting solutions to Nigeria’s ongoing power crisis following yet another national grid collapse, leaving Nigerians in darkness.

Posting on his X handle, Obi highlighted the frequency of grid failures, noting that since January 2024, the grid has collapsed ten times, with three incidents occurring in October alone.

Contrasting Nigeria’s power struggles with South Africa’s recent achievements, Obi stated, “Just a few days ago, on the 25th of October, South Africa, which was Africa’s second-largest economy until recently, celebrated seven months of uninterrupted power supply. South Africa generates about 40,000 MW of electricity, while Nigeria struggles to generate and distribute just 10% of that.”

Obi criticised the tendency to frame Nigeria’s electricity issues through tribal or religious lenses, stressing, “Is there any tribe in Nigeria that enjoys uninterrupted power supply like South Africa? I am labelled a tribal bigot. When I ask if any religion enjoys special privileges in this crisis, I am called a religious bigot. But I will continue to speak the truth about our situation today.”

He urged Nigerians to set aside “primordial sentiments” and focus on electing leaders capable of advancing development goals. “The solution lies not in tribal or religious affiliations but in visionary leadership and a shared commitment to progress,” Obi stated.

He emphasised the need to prioritize investments in critical areas such as health, education, and electricity to uplift Nigerians and shift from a consumer-driven economy to a productive one.

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