Day: July 1, 2024

According to data released by the Macao SAR Government, the number of tourists visiting Macao in the first quarter of 2024 has reached 8.876 million, which is an increase of 79.4% year-on-year, and the average occupancy rate of hotels has exceeded 85%. In the first quarter of 2024, Macao’s GDP grew by 25.7% in real terms, with its unemployment rate falling to 2.1%, and the median working income of the total employed population has increased by MOP 1,000 year-on-year.

In the government report of the fiscal year 2023, the Macao SAR government clearly put forward the ‘1+4’ strategy of moderate diversified development to promote the development of its four key industries. For more than a year, the Macao SAR government has followed up more than a dozen investment plans in the science and technology industry and supported the implementation of a number of scientific research achievements with prospects for transformation and application. In the development of the modern financial industry, Macao has seized the nat
ural advantages of the ‘free port’, focusing on specialty finance such as bonds, wealth management, green finance, financial leasing, etc. The size of its bond market and the number of debts have grown rapidly. In addition, the establishment of the Hengqin Guangdong-Hongkong-Macao Deep Cooperation Zone has given Macao more room for imagination regarding the diversified development, and the development plan of the Cooperation Zone has clearly defined its construction plan of the Macao Brand Industrial Park. As of April 2024, the total number of Macao enterprises in the cooperation zone reached 6,208, which is an increase of 12.3% year-on-year or rather an increase of 33.88% compared with the establishment of the cooperation zone. ‘Headquartered in Macao and operating in Hengqin’ – it has become a new model for the development of Macao’s industry.

Although Macao is small in size, its weight is heavy and there are many opportunities. Macao deserves to have a promising future.

Contact: Yao Shunyu

Tel.: 008610-
68994660

E-mail: 1023144989@qq.com

Source: News Agency of Nigeria

A Don, Prof. Osita Agbu, has urged the Federal Government to revitalise the Ajaokuta Steel Company Limited to boost the country’s economy through industrialisation.

Agbu, of the the Department of International Relations and Diplomacy, Faculty of Management and Social Sciences, Baze University, Abuja, gave the advice while delivering inaugural lecture at the institution in Abuja.

The lecturer, who spoke on ‘Technology and International Relations: Backward and Forward Linkages In Steel Development and Nigeria’s Foreign Relations’, said ‘we cannot make progress if we don’t embrace science and technology.

‘And in Africa, where issues of primordialism and spiritualism hold sway, it is high time the country directs attention to bringing the company back to life.

‘Look at other countries of the world that have industrialised and made progress, you see that there is a whole lot of attention on scientific issues that you don’t have to be living in the past.

‘Yes, you can preserve your culture but you need to embr
ace the present and move into the future.’

Agbu said it was against this backdrop that he researched on the topic of his presentation because almost everything of that can make a country to develop or make a person to improve civilisation comes from the use of iron and steel.

‘And that is why I took us back to the various industrial revolutions we had, up to the 5th Industrial Revolution, to show the importance of iron and steel industry in the development of mankind and the things we use.

‘That is why I focused on what we have on the ground; the Ajaokuta Iron and Steel Industry.’

‘What are its various constraints and problems right from Inception, the cold war politics around it, the coming of the company from the Soviet Union and what we have been able to achieve.

‘I have been monitoring that project for three decades, and without it coming onstream, we cannot lay the foundation for industrialisation in Nigeria.

‘Yes, there are mini steel companies but they are just a few and cannot even satisfy domes
tic market, not to talk of exportation.’

He, therefore, stressed the need for the country to take drastic measures to have control over the production of iron and steel.

‘If we can do that and allow this to seep into other sectors of our economy, you will see what will happen to our economy .

‘People will be engaged, people will be able to produce, the country will have greater influence among the comity of nations.’

The Vice Chancellor of the university, Prof. Kathleen Okafor, in an interview, enumerated some of the takeaways from the lecture.

She said ‘this is telling us to disabuse our minds of political considerations when we are positioning investment institutions.

‘We should also be concerned with short and long term benefits to the country.

‘We should be aware of the presence of neocolonialism, where the super powers are not relenting in recolonising us in one way or the other, not recolonising us as a country geographically, but our minds.’

Okafor said that issues of corruption that had stalle
d development should be tackled.

She stressed the need for government to pursue development with a passion and aggression, saying ‘in terms of technology, we need to upscale, we need people with integrity and those who are prepared to be heroes for industrialisation.

‘It is not only about the leaders, but individuals are needed who have the right minds to champion development. Education or research alone can’t take us there

Source: News Agency of Nigeria

The Chief of Army Staff (COAS), Lt.-Gen. Taoreed Lagbaja, has reitrated Nigerian Army’s commitment to combating all threats and ensuring peace in the foreseeable future.

Lagbaja stated this during the Inter-denominational Church Service to commemorate the 2024 Nigerian Army Day Celebration (NADCEL), on Sunday in Abuja.

He said the threats that Nigeria was facing as a nation were complex and adaptive, assuring that the troops are adapting to the situation.

‘I would say we are one step ahead of the threats and in doing so we have been able to restore peace to some parts of the country’.

Accoording to Lagbaja, in the areas where the army is still experiencing challenges, the authorities are reviewing the situation.

‘We are tweaking with our strategy and the troops are raring to go and we will continue to provide the necessary support to the troops in the front line.

‘My pledge to the nation is that the army will continue to be up and doing, the troops will continue to combat the threat and in the foreseeab
le future we will experience peace all across the nation,’ he said.

The army chief urged Nigerians to continue to support the army by providing information, moral, spiritual and whatever support to enable it to address the situation.

Lagbaja said that: ‘With this support, the soldiers in the front line will be motivated to give their all in the defence of the nation and in doing that, we will experience sustainable peace across the nation’.

He thanked the clergy for their diligence in lifting holy hands in prayers on behalf of the Nigerian army families, particularly those in the front lines and the families they left behind.

Lagbaja also congratulated officers and men of the army and members of their families as it marked its 161 years since its inception and counted its successes.

He said the service had experienced wars, low-intensity conflicts, and military operations other than war, such as peacekeeping/peace enforcement and military aid to civil authority engagements.

According to him, Nigeria tod
ay boasts of a force that is globally reckoned with, renowned for its tenacity and adaptability and a force that is victory-focused.

He said the Nigerian army understood the underlying spiritual component of fighting power, and ascribed battle successes to God as conspicuously captured by its motto: ‘Victory is from God Alone.’

‘I believe it is in recognition of the place of thankfulness to God for the past year and the need to seek divine guidance and blessings for a new year that our forefathers initiated the NADCEL religious activities.

‘Therefore, our gathering today is to thank the Almighty for His guidance over the past year and seek His continued blessings, grace, and favour.

‘Like the eagle bird that symbolises strength in the army logo, we have congregated before the Almighty to renew our strength to soar higher and accomplish missions in the new year,’ he said.

Lagbaja said that the NADCEL Church service was also to commemorate the fallen warriors, celebrate the living and pray for a brighter f
uture for the Nigerian army.

He urged all to keep praying for the repose of the souls of their beloved colleagues who had paid the supreme sacrifice in the line of duty defending the nation as well as for the recovery of the growing population of wounded-in-action warriors.

The Director, Chaplain Services (Roman Catholic), Nigerian Army, Brig.-Gen. Anthony Maimagani, said the theme of the Interdenominational Church Service is: ‘Integrating Religious Morals in the Society: Imperative in Combating Contemporary Security Challenges in a Joint Environment”.

Maimagani said the Nigerian army believed that victory only comes from God as encapsulated in its motto.

He said it was God that guided personnel and gave them inner courage to fight to overcome the enemy.

According to him, prayer is a key thing in their lives as they struggle with insecurity in the country.

‘That is why we talk about a non kinetic way of dealing with this insecurity and prayer is one aspect of dealing with such insecurity,’ he said.

S
ource: News Agency of Nigeria

Nigeria will partner global stakeholders in energy transition- Ngelale

Nigeria will continue to partner global stakeholders in energy transition programme as envisaged by the President Bola Tinubu’s Renewed Hope Agenda.

Chief Ajuri Ngelale, Special Presidential Envoy on Climate Action, said this at the 3-day Global Energy Transition (GET) Congress in Milan, Italy.

The News Agency of Nigeria (NAN) reports that the Congress will hold from Monday to Wednesday with global players in the government and private sectors participating

He said that the country was blessed with solid minerals capable of easing the environmental and economic impact of the transition.

Ngelale said the National Council on Climate Change (NCCC) was ready to reposition climate resilience of the country and ensure climate justice.

He added that the NCCC would position Nigeria for rapid and sustainable socio-economic development in line with its establishment act.

‘I was struck by the increasing prioritization of climate justice in the
global south, and my focus remains on steering the energy transition toward green economic opportunity for Nigerians and Africans at large.’

Ngelale, who was hosted to a dinner by global leaders on climate change at the Congress on Sunday, said Nigeria would lead in the transition in Africa.

The Presidential Envoy exchanged views with former U.S. Special Presidential Envoy on Climate, John Kerry, former UK Prime Minister, Tony Blair, and other high-level dignitaries at the Global Energy Transition Congress at the dinner.

The Global Energy Transition Congress and Exhibition (GET) is a premier event that brings together thought leaders, innovators, and industry experts from the energy, hard-to-abate sectors, finance, and start-ups to address the critical challenges and opportunities to decarbonise industry and accelerate the global energy transition.

It serves as a vital platform for networking, knowledge exchange, and showcasing low-carbon solutions and decarbonisation technologies that will shape the futu
re of the energy transition worldwide.

With a focus on achieving net-zero emissions, GET is set to attract participants from diverse sectors and countries to foster collaboration and drive meaningful change.

Key speakers at this edition includes Blair, Nigeria’s Minister of Industry, Trade and Investment Doris Uzoka-Anite, Kerry Ngelale, Dr Philip Mshelbila, MD of Nigeria LNG

Source: News Agency of Nigeria

The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the African Petroleum Regulators’ Forum (AFRIPERF), to drive continental aspirations in the development and utilisation of hydrocarbon resources.

The commission inaugurated the AFRIPERF at its maiden roundtable on the sidelines of the Nigeria Oil and Gas (NOG) Energy Week 2024 holding from June 30 to July 4, 2024 in Abuja.

The theme of the event is: ‘Fostering Collaboration and Sustainability in Africa’s Petroleum industry.’

The News Agency of Nigeria (NAN) reports that the primary goal of the AFRIPERF is to promote collaboration, knowledge sharing, and the adoption of best practices across our continent for a secured energy future.

Mr Gbenga Komolafe, Chief Executive of the NUPRC, described the forum as a significant milestone in the collective journey toward fostering a more collaborative, innovative, and sustainable petroleum industry in Africa.

Komolafe said the AFRIPERF signified African’s commitment to overcome common challen
ges to achieve national aspirations in the development and utilisation of hydrocarbon resources.

‘Currently, Africa holds substantial oil and gas reserves. The continent’s proven oil reserves are estimated to be 125 billion barrels, representing approximately seven to nine per cent of the world’s total oil reserves, while the proven natural gas reserves are estimated at around 620 trillion cubic feet (Tcf).

‘Aside from hydrocarbon resources, Africa is blessed with potential for green and blue hydrogen, solar, wind, biomass and critical minerals for development of clean energy technologies and growing population pre-dominated by young people,’ he said.

He said with a population of 1.49 billion compared to a combined population of Europe and U.S. estimated at 1.1 billion, Africa had the second largest population among the continents of the world.

This population, he said, is expected to continue growing rapidly in the coming decades.

‘Unfortunately, Africa’s Gross Domestic Product (GDP) which currently sta
nds at three trillion dollars is very low compared to that of Europe at $22 trillion and U.S. at $26.9 trillion according to the World Bank, International Monetary Fund,’ he added.

He explained that these statistics underscored Africa’s significant role in the global youth demographic and highlighted the need for collaboration for targeted policies and investments that would support this growing segment of the population.

He noted that the need for a unified platform that would bring together the regulators of the African Petroleum Industry was conceived during the African Energy Leadership Forum and Awards at the Offshore Technology Conference in Houston, USA, In May 2023.

‘As we are all aware, we are faced with rapidly evolving global energy landscape, it is,, therefore, imperative that we leverage our collective strengths to secure the appropriate energy source for the development of our nations and benefit of our people.

‘The recent surge in hydrocarbon discoveries across Africa, coupled with the pres
sing need for a sustainable energy transition, demands a concerted effort from all of us.

‘AFRIPERF will enable us to address these challenges head-on, ensuring that our regulatory frameworks are robust, our policies forward-thinking, and our actions aligned with global best practices,’ he said.

Speaking on the objectives of AFRIPERF, he said it would promote investment and cooperation among regulators of African petroleum producing countries, facilitate knowledge sharing, technology transfer, and the dissemination of best practices.

Mr Joseph Ogunshola, Deputy Director, Reservoir Management and Unitisation/Energy Transition and Carbon Monetisation, NUPRC said the forum required concerted efforts to drive initiatives and objectives proposed for AFRIPERF.

Ogunshola, in a presentation entitled: ‘Fostering Collaborative and Sustainability of Africa’s Petroleum Industry: Establishment of the Africa Petroleum Regulatory Forum,’ said 60 per cent of Africa’s export earnings were from hydrocarbons.

He underscore
d the need for access to clean cooking fuel, Liquefied Petroleum Gas (LPG) utilisation and balanced relationship between energy situation and economic growth and fair balance equitable energy transition.

Mr Ergbert Faibille, the Chief Executive Officer, Petroleum Commission, Ghana, lauded the NUPRC for conceiving and putting together the forum, adding that Ghana would be supportive to ensure its success.

‘The forum will enable the regulators in the continent to think through what our prospects are, what our challenges are and ensure that Africa is not left behind in the global energy industry,’ he said.

Fabille, while expressing enthusiasm on the resolution of producing the Abuja Declaration on the Forum for future references called for an investment in a firm and harmonised regulatory environment across African continent

Also speaking, Kanni Touray, the Deputy Director-General, Petroleum Commission, the Gambia, expressed delight to be part of the forum.

Touray said that the forum would enable the Gambia
to learn from Nigeria’s exploration and petroleum value chain.

Source: News Agency of Nigeria