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OPEC, GECF express commitment to ensure stability of global energy market

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Omicron variant: OPEC says crude oil spot prices dropped by $1.74 in November

The Gas Exporting Countries Forum (GECF) and Organisation of Petroleum Exporting Countries (OPEC) have expressed commitment to collaborate with member countries to ensure stability to global energy, oil and natural gas markets.

Dr Yuri Sentyurin, Secretary-General, GECF, who made the commitment known on Wednesday while opening the second High-level Virtual Meeting of GECF- OPEC Energy Dialogue said it aimed towards achieving more sustainable world.

The secretary-general noted that efficient collaboration within GECF-OPEC High-Level Energy Dialogue was very essential, due to the current period of concerns as regards to the energy crisis and its complications.

Sentyurin stressed that gas remained the most practical option to attain energy transition, spur economic growth and social progress anywhere in the world, adding that member countries had been fulfilling all of their long-term supply contracts.

He said GECF thoroughly recognised the complex challenges imposed by climate change and the importance of abating carbon emissions, adding that it supported all endeavours and attempts in dealing with climate change.

Also read: Nigeria crude oil production averaged 1.451 mb/d in September – OPEC

Furthermore, he stated that it supported and strived to be part of the efforts undertaken by the international community to deal with environmental issues.

“Therefore, the GECF joined the commitment of UN to ensure that oil and gas sectors continue to make an influential contribution to overcoming COVID-19 pandemic impacts, powering the global economic recovery, and accelerating move towards net-zero emissions.

“In GECF, we share the statement by Mohammad Barkindo, OPEC Secretary-General, that oil and gas have an important role to play in the energy transition and support the need to reduce emissions, bolster efficiency and embrace innovation.

“Therefore we must be aware of the risk we run of not adequately investing in the future of oil and gas industries,” he added.

Sentyurin also lauded member countries which had pledged to ensure net-zero carbon emissions by 2060 and also for submitting details of their Nationally Determined Contributions required by the upcoming COP26 Meeting, while maintaining their roles as leading producers of oil and gas.

According to the secretary-general, the GECF member countries have placed climate action at the forefront of their priorities by focusing on exploring all possible options – from technology and innovation to research and development.

This, he said would cement the role of natural gas and oil as a solution for a balanced energy transition with adequate investments into oil and gas.

He recalled that the GECF 2019 Malabo Declaration adopted by the GECF Heads of State and Government-mandated them to “promote GECF cooperation with African countries to use gas as core source of energy in development programmes and climate change policies.”

This, according to him will help overcome energy poverty, enhance development and to mitigate CO2 emissions.

“According to the latest projections by GECF Global Gas Outlook 2050, natural gas and oil will provide more than 50 per cent of global energy demand by 2050 under the reference case scenario.

“Therefore, a multi-dimension approach should be the way forward to deal with the climate challenge in which the oil and gas industries form the bedrock of the solution.

“I am very proud to inform you that we are not only talking, but acting. The Secretariat of Gas Exporting Countries Forum has started the necessary work on the reduction of greenhouse gas emissions from its activities to net-zero by 2024.

“And we are ready to share our best practices and updates on its progress towards net zero emissions with our colleagues in OPEC and other intergovernmental organisations.

“GECF and OPEC, as the two largest oil and gas coalitions, should carefully approach decarbonisation, and prevent artificial acceleration of ‘greening’ the international agenda, at the expense of the sustainability of Member countries energy sectors,” he said.

 

Economy

SON vows to checkmate quackery in management system practice

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SON vows to checkmate quackery in management system practice

The Standards Organisation of Nigeria (SON) says it has mapped out plans to get rid of quacks involved in management system practice in the country.

Its Director-General, Malam Farouk Salim, made this known on Thursday at a one-day stakeholders’ engagement for the National Register for Conformity Assessment Practitioners (NRCAP) in Lagos.

Salim said the move would put an end to unscrupulous individuals who shortchanged companies and individuals.

According to him, the quacks lacked the required competency to operate in the management system space.

Salim said that conformity assessment practice was central to the sustenance of commercial success and continuity in all sectors.

He said that management system practitioners were vital toward ensuring that practices carried out by the industries “are in alignment with the international best practice in terms of the expectations of existing conformity assessment standards”.

“It is in view of the importance of the authenticity and traceability of products and services to meet the requirements of relevant Nigerian Industrial Standards and other approved specifications.

“SON seeks to pursue the implementation of Part II, Section 4(d) and Part III, Section 5 of the SON Act No.14 of 2015.

“Via the operation of the NRCAP scheme, in order to establish a directory of verified and registered Conformity Assessment Practitioners in Nigeria for all laboratories, management system consultants, Training Service Providers, Certification bodies, inspection bodies, inspectors, auditors and assessors.”

He said that lack of regulation of activities of the practitioners over the years had negatively impacted the industry and country significantly.

Salim listed other impacts including: “poor protection of genuine practitioners, unhealthy competition, poor visibility and recognition of genuine and competent practitioners capable of attracting patronage.

“Others are poor value for money for unsuspecting customers patronising quacks who deliver poor services.”

He also said that lack of official register of competent practitioners to aid national planning and coordination of economic activities that border on standardisation and quality assurance was also a challenge to the growth of the economy.

“This engagement is guided by the strategic collaboration/partnership that SON shares with various organisations over time, especially with the SON Management Systems Certification and Training Services Departments with which you interface through your customers, of which you are expected to bring to bear, your wealth of experience to this national call,” he said.

The SON director-general said that the registration processes, including approved guidelines, expectations of benchmarking Conformity Assessment standards and interests while developing the documents, were taken into consideration to ensure that impartiality of the process was assured.

He said that adequate training was given to the practitioners to boost their service delivery.

Earlier, Bode Oke, the First President, Society for Management System Practitioners of Nigeria, said the group would join hands with SON to stem quackery in the system to ensure that consumers get value for money they spent.

Oke said: “We are here to gain more knowledge and to join SON in the registration of all management system practitioners.

“We are going to partner with SON to ensure that the exercise is successful because we have a lot of companies practicing management systems that are not trained and competent.

“We are working together with SON to ensure that we remove all those incompetent people from the system.

“So that whenever a client approaches practitioners for registration, the client will know that he will not be shortchanged and get value for the money spent,” he said.

Oke said that the roles of system practitioners were vital in business growth and development.

He stressed that the system practitioners were responsible for taking companies through quality management systems certification, environmental management system certification, occupational health and safety certification and food management system certification.

“The International Organisation for Standardisation (ISO) has established standards for all management systems.

“And, therefore, anyone that would lead companies to obtain this certification must be competent.

“This is why SON is regulating all the auditors, consultants and even, the certification bodies because we have some certification bodies coming from outside the country that are not competent, so competency is the key word here,” he said.

In her remarks, Patricia Solarin, a Consultant in the Quality Management System Practice, said that standardisation was germane for industrial development.

Solarin said: “There are so many briefcase-carrying consultants that are going around duping clients and most of these consultants did not even pass their audit test and examination.

“Without standardisation or regulations, it will be difficult to stop the quacks. A lot of companies are being shortchanged, because people taking them through certification do not really know much.

“So, SON is trying to register auditors and consultants, which is a welcome development to ensure that people get value for their hard money spent.”

She commended the leadership style of Salim for taking a bold step to tackle the challenges, urging the government to support SON to achieve greater feats.

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Economy

NECA wants FG to tackle challenges stifling businesses

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NECA wants FG to tackle challenges stifling businesses

The Nigeria Employers’ Consultative Association (NECA) has urged the Federal Government to demonstrate commitment to addressing monetary and fiscal policy challenges stifling businesses.

The NECA Director-General,  Mr Adewale-Smatt Oyerinde,  made the call in a statement on Thursday in Lagos, listing such challenges as foreign exchange dichotomy, fuel subsidies, multiple taxations, among others.

He made the call, just as he commended the Nigeria Labour Congress (NLC) and government for embracing dialogue to avert the nationwide strike by the workers’ union earlier scheduled to start on March 29.

“The quick response by the government to ease the cash liquidity and the corresponding immediate positive effect on the economy demonstrated that it has the capacity to address policies once it is determined to do so.

“Therefore, we call for similar determination and consultative engagements with the private sector and other relevant stakeholders to proffer solutions to business challenges in order to facilitate competitiveness and productivity, “ he said.

He commended the efforts of the Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, and the Minister of Labour and Employment for personally getting involved.

He also lauded them for monitoring the disbursement to ensure compliance with the bank’s directive to end the cash crunch, of which the economic nerve centre and other areas had started witnessing improvement.

“The CBN has shown goodwill and true support for the ailing economy by immediately disbursing cash to the commercial banks.

“Also, by directing the banks to open beyond their normal working hours to ease the cash crunch in the nation: an action which could have been averted in the first place, “ he said.

Oyerinde, however, warned that the ripple effects of the cash swap policy would linger as it would take considerable time for businesses, especially the informal sector, to recover.

He said that many of them had closed due to low purchasing power of consumers.

The NECA chief said that business activities had stagnated in the last 10 weeks of the implementation of redesigning of the currency policy nationwide.

He said this had led to reduced productive output, high inventory and jobs cut, and impediments to personal and business transactions.

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Economy

Court Declares Activities of Kogi Transport Management Agency as Illegal

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Court Declares Activities of Kogi Transport Management Agency as Illegal

…Says laws establishing KOTRAMA is inhuman***

A Kogi High Court on Thursday declared the activities of the Kogi Transport Management Authority (KOTRAMA), as illegal.

Justice Clement Kekere of High Court 10 made the order while delivering judgment in a case instituted against the agency by an Abuja-based lawyer,  Mr. Martin Atojoko.

Kereke, who faulted the law establishing KATROMA.

“By the evidence before the court, I hereby order that the Law establishing the agency be set aside forthwith.

“This is because the law made by the state house of assembly contravenes the Provisions of the Federal Road Safety Commission Act 2007.

“In all, the laws establishing KOTRAMA is inhuman, and is established to cause hardship on motorists,” the judge held.

The judge also awarded the plaintiff, N100,000 as general damages against the agency.

Atojoko had sued KATROMA and joined the Kogi House of Assembly, the Attorney-General and Commissioner for Justice and the state government as second, third and fourth defendants in the matter.

Atojoko had prayed the court to compel the defendants to pay him N10 million as general and exemplary damages for inter-alia the first defendant’s unlawful and illegal action of detaining and impounding his car.

The plaintiff had told the court in his originating summon that on June 22, 2022, he was stopped by officers of KOTRAMA over an expired driver’s licence while they impounded his Toyota Corolla car.

“My lord, I only got my car back the next day, after paying N10,000 in fines, an action which is but a contravention of the Federal Road Safety Corps (FRSC) Law of 2007, ” he said.

Atojoko thereafter prayed the court to issue an order declaring that the second defendant could not make laws empowering the first defendant to exercise the powers of the Federal Road Safety Corp (Establishment) Act, 2007 in inspecting the driver’s license of motorists, issued by the FRSC and codifying same in Kogi Road Traffic Administration and Vehicle Inspection Law, 2018.

“A declaration that all the provisions of the Kogi Road Traffic Administration and Vehicle Inspection Law, 2018, empowering the first defendant to exercise the powers of the FRSC in the inspection of the driver’s license of motorists as invalid, illegal, unlawful, null and void ab initio.

“An order that the KOTRAMA cannot fine the plaintiff and impound his vehicle with registration No. 2T1BU4EE9AC312480, without first trying him and finding him guilty before a court of competent jurisdiction.

“An order that the act of the first defendant in impounding the vehicle and fining him without powers to do so is invalid, illegal, unlawful, unconstitutional, null and void, ab initio,” he pleaded.

But KATROMA and other defendants through their Counsel, Mr. B.O. Obenege, had debunked the claims of the plaintiff and said that the agency acted within the ambit of the law that established it.

Obenege claimed that the house of assembly Law that established KOTRAMA was not a duplication of the FRSC Law of 2007.

He prayed the Court to hold that the action of KOTRAMA has not contravened the Kogi Law or any other law, and the claimant was given a summary fine of N10,000, all in accordance with Section 1(3) of the Law.

“In conclusion, we urge your lordship to dismiss the case for lack of merit,” Obenege had pleaded with the court.

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