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Transcorp Energy Presents Alternative Energy Solution to Nigeria
Transcorp Energy Limited, a subsidiary of Transnational Corporation of Nigeria Plc, has presented an alternative energy solution to Nigeria as part of its integrated energy strategy.
Unveiling the Company’s alternative energy plan at a meeting with Dr. Ogbonnaya Onu, minister of Science & Technology; Mr. Peter Ikenga, head of Transcorp’s Energy business said it will unlock greater value in the power sector.
Speaking at the event, Mr Ikenga stated that Transcorp Energy was seeking to collaborate with the Federal Government, through the Federal Ministry of Science and Technology, to develop nuclear power plants as alternative energy source for power generation in Nigeria using the OPEN100 model.
Mr. Ikenga in his remarks said, “this project is transformative and a first in Nigeria and would radically change the way nuclear power plants are deployed, offering a substantially less expensive and less complicated solution. It will further provide the country with a reliable and sustainable energy source, devoid of some of the challenges hampering stable and reliable power generation in Nigeria.”
Dr. Onu, while welcoming the Transcorp team, reiterated the commitment of the government to promote the application of science, technology and innovation within Nigeria, in line with the Executive Order No. 5 of the Federal Government.
“We are delighted to see this innovation and appreciate Transcorp for leading the charge in the industry with this initiative. The approach by Transcorp to use small scale nuclear plants is catalytic for achieving the national goals on Science and Technology”, he stated.
The minister further affirmed the commitment of the Federal Government, particularly the Ministry of Science and Technology to support Transcorp in the laudable venture and directed that a joint committee comprised of Transcorp, and all the relevant stakeholders be setup immediately to jointly manage execution of the project.
The OPEN100 is the world’s first open-source blueprint for nuclear power plant deployment for a small, standard, pressurized water reactor that will accelerate deployment of the modular nuclear plants for power generation.
Bosun Tijani, minister for Communication, Innovation and Digital Economy, has stated that the federal government is geared towards creating about one million technology jobs for teeming Nigerian youth.
Tijani stated this at the official opening of a solar-powered community ICT center built by the National Information Technology Development Agency (NITDA) in Abeokuta, as part of activities marking the 38th Lisabi festival.
The minister emphasised the commitment of President Bola Tinubu’s administration to invest in the digital economy, driving inclusive growth and empowering the country’s teeming youth population.
“The president made it very clear when I came into office, that he will spend efforts and resources in creating one million technology jobs. So, for anybody that is following the development in the world today you will see that there’s no world without technology.
“There is a strong shortage of technology workforce all over the world, and while a lot of the developed countries have ageing population, and not giving birth to kids, in Nigeria, the average age is 16.9, so our young people are being projected to be the workforce of the future, not only for Nigeria.
“This center here is one of many. In the next two months, we are launching about 30 of them all over the country. This center will be properly animated and we will put resources into ensuring that there are courses for young people to come and take here.
“We are also going to ensure that there are job opportunities that we can connect them to and if anyone wants to follow, follow the three million Technical Talent Program which we have started already in the country”, he said.
He therefore charged the youth to remain focus, and not be discouraged, adding that there is massive employment opportunities in technology as there is no enough people to work in technology all over the world.
“If you ask anyone that works in technology, the entry salary is between N350,000 to N500,000. Technology pays really well, so instead of worrying about things being hard, they should take advantage of centers like this, empower themselves and go for the opportunities the world has to offer them”, he added.
Speaking earlier, Oba Adedotun Are, Alake and Paramount ruler of Egbaland, lauded President Tinubu for approving the centre in Abeokuta, saying that this has no doubt marked another new dawn for the people of Egbaland, given rapid growth, development, and economic empowerment of the people.
National Institute for Policy and Strategic Studies (NIPSS) has predicted that the price of Premium Motor Spirit (petrol) will decline as Dangote Refinery and other local refineries commence full operations.
Speaking on Channels Television on Tuesday, April 1, NIPSS Director-General Ayo Omotayo expressed optimism that fuel prices would fall once more refineries become operational.
He projected that petrol prices could drop to around N750 per litre before the end of the year with a more stable exchange rate.
“We’re looking at it coming down as low as N750 before the end of the year. And of course, foreign exchange will still drop to about 1.3 before the end of the year, and it is going to continue like that as more of our refineries come into place.
Omotayo acknowledged the current economic hardships but insisted that the policy would benefit Nigerians in the long run.Traditional Nigerian cuisine
“The gains at this time are very little, but in the long run, we will make up for whatever sacrifices we have made today as Nigerians” he stated
U.S. President Donald Trump has stated that a deal for the sale of TikTok’s U.S. operations is expected to be finalized before the April 5 deadline.
U.S. President Donald Trump
The deadline, set by legislation passed in January, mandates TikTok’s Chinese parent company, ByteDance, to divest its U.S. assets or face a nationwide ban due to national security concerns.
Multiple non-Chinese firms have expressed interest in acquiring TikTok’s U.S. operations.
Private equity firm Blackstone is considering a minority investment, potentially joining existing non-Chinese shareholders such as Susquehanna International Group and General Atlantic.
In a strategic move to facilitate the sale, Trump suggested that he might consider a reduction in tariffs on China, acknowledging that Chinese regulatory approval may be required for the deal to proceed.
The White House has been actively involved in negotiations to ensure that TikTok remains operational in the U.S. while addressing national security risks.
With TikTok’s 170 million American users watching closely, the outcome of the sale is expected to have a major impact on the social media landscape and the broader tech industry.
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