FG didn’t promise constant power supply by June -Nebo

Minister of Power, Prof. Chinedu Nebo, yesterday said that the Federal Government promises improved electricity supply by June, 2014 and not constant power supply.
Nebo made the clarification in an interview with the News Agency of Nigeria (NAN) yesterday in Abuja on the sidelines of a “Pre-inaugural International Workshop” organised by the Nigerian Society of Engineers, NSE. It will be recalled that President Goodluck Jonathan was quoted by a section of the media to have promised constant power supply by June this year.
“Concerning the promise on power supply in June; we are not saying constant power supply by June; we are saying improved power supply.
“For instance, if you were getting eight hours of power supply and you now get 10, it is improvement, if you are getting 16 hours and you get 18 it is improvement.
“If you are getting 18 hours and you get 22 it is improvement; that is what we are saying, though the ministry is facing some challenges, with time everything will be stable.”
According to Nebo, the Federal Government has already committed a lot to the power sector and work is being done to normalise electricity supply in parts of the country.
He said that there was improvement in power supply in many states during the Yuletide, apart from Lagos that had some hitches due to what he called ‘unique challenge.’
“Most parts of the country got better power supply during the Yuletide, Kaduna had excellent supply, Abuja and many places got 23 to 24 hours power supply and so many other states.
“Though there were challenges, we are doing everything possible to overcome these challenges so that we can deliver more power to Nigerians.”
The minister said that government alone could not fund the infrastructure deficit in the country, saying: “That is why the Public Private Partnership, PPP, is very crucial if Nigeria must meet its development target.
“There is no way government alone can raise all the funds that is needed for infrastructure development, so we need to bridge that gap by inviting the private sector.
“This partnership with the private sector will help the government in delivering this infrastructure; that is the best way to go.”

Incredible! A mind-reading camera that makes life GIF-able.

How many times has a moment so absolutely hilarious or unbelievably adorable unfolded before your eyes, making you wish you'd been holding a video camera? Japanese tech company Neurowear's high-tech headgear, Neurocam, aims to solve that problem for you. The device straps a camera and an electroencephalogram reader to the wearer's cranium. During moments of high-frequency electronic signals detected through the skull -- a general indication of excitement -- the camera switches on to record short five-second GIFs onto an iPhone that is somewhat awkwardly attached to the device.

FG to reinvest N268b through SURE-P in 2014

The Federal Government plans to reinvest about N268 billion in various aspects of the economy in 2014, through the Subsidy Reinvestment Programme (SURE-P).
The Federal Ministry of Works is billed to take the lion’s share of N100 billion or 37.31 per cent of t he amount.
Another N68 billion or 25.37 per cent of the fund will also be channeled to social safety nets, particularly in such areas as maternal and child health; public works for youths; Graduate Internship Programme; and counterpart funds for HIV/AIDS; among others.

Life After School: What Next

The traditional design of school goes like this: get good grades, get into a great University, and graduate with a degree and boom! You are now in the career you have always wanted.
However, this is a misconception from beginning to end. Many students are “lucky” or fortunate with the fact that success or a career comes at an early age. For others it is a constant struggle not just after graduation, but throughout their entire education, even starting as far back as high school. Many businesses are in a slump with the economic state, and so many jobs are not available. Trying to master life, career and business today is a struggle, and for many it will be an even bigger uphill battle.

Delay in releasing list of marginal fields for auction worries prospective bidders

The air of uncertainty over when the list of marginal fields to be put on offer in the next licensing round would be released has continued to put prospective investors on edge, fuelling concerns over the transparency of the process.

Interested investors are increasingly worried that one month after the announcement of the bid round, the Department of Petroleum Resources (DPR) has yet to make public the list of the assets to be put up for sale.

It was gathered that there is a list of assets that could be offered circulating among some highly connected Nigerian oil companies. Some of the companies have already told the DPR that they are interested in some of the fields and even gone ahead to say how much they are willing to pay.

Algeria to reopen Tiguentourine gas complex

Almost one year following the terrorist attack at the Tiguentourine gas plant near In Amenas, the foreign companies that operate the site reached an agreement with Algerian authorities to resume work.

Statoil and British Petroleum (BP) workers can once again return to their workplace, which has been deserted since the terrorist attack of January 16th, 2013. Thirty-eight civilians were killed in the attack.

The two companies demanded the introduction of security measures to protect expatriates working in this sensitive border area with Libya.

Kenya ‘delays energy bill

Kenya is to delay a much-anticipated energy reform bill until the summer as the East African country looks to monetise oil discoveries.
The Petroleum E&P Bill was to be ready for parliamentary debate last November, but has been pushed back.
Energy & Petroleum principal secretary Joseph Njoroge said the ministry is speaking with oil industry players and that meetings with regional officials will take place in February, Reuters reported.
“So by the end of this (fiscal) year – that is by June – we expect to have put everything in place,” the news wire quoted him as saying.

Ghana’s Petroleum Revenue Act to be amended in 2014

The Petroleum Revenue Management Act (PRMA), Act 815, is to be amended early this year to rectify some inconsistencies that exist in the current law, two-and-half years after it was enacted (in 2011).
Some of the inconsistencies identified in the law include the calculation of the Petroleum Benchmark Revenue and allocations to the Ghana Petroleum Funds (the Ghana Stabilisation Fund and the Ghana Heritage Fund) (GHF) and Annual Budget Funding Amount; membership of the Public Interest and Accountability Committee (PIAC) and the qualifying instruments which Ghana Petroleum Funds (GPF) should be invested in.

No More Blackouts in Africa with Power SH Boxes - Coming to Africa

 

NRGLab (http://nrglab.asia/), the premiere green-energy company in Singapore, holds an affordable solution to power outages and blackouts.

The company has developed and perfected poly-crystal technology for producing electricity from environmental heat. This scalable power solution uses self-contained generators known as SH Boxes, which produce electricity for as little as 3 cents per kW. NRGLab systems produce environmentally-friends energy; no harmful emissions or pollutants of any kind are released from the company’s generators, which operate more than a decade on a single installation.   

Drop your comment, tell us what you think about this technology.

CUSTOMERS CAN NOW PAY CASH INTO THEIR ACCOUNTS AT ANY BANK - Comment

A big relief to Nigerian bank customers: you no longer need to reach your bank to deposit cash. You can now pay into any bank and the money will be credited into your account, just like you withdraw cash from any bank’s ATM.

The new deal has been made possible by BeyondBranches, owner of the payment platform QuickTeller, a value added service platform developed by Interswitch, the largest integrated payment processing service provider in Nigeria.