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Oriental, Greenwish Seal Partnership Deal On Jigawa 50mw Solar Power Project

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Oriental Renewable Solutions (“Oriental”), a subsidiary of the Oriental Group has reached an agreement with GreenWish Partners (“GreenWish”) to co-develop the company’s solar power project in Jigawa State.

The 50:50 equity partnership will see both firms work together to deliver new capacity of 50MW to Northern Nigeria.

Oriental signed a 20 year dollar denominated Power Purchase Agreement (PPA) with the Nigerian Bulk Electricity Trader (“NBET”) for the Jigawa project in July 2016.

The agreement formed part of a wider NBET process to sign PPA’s to deliver 1.2GW of solar generation capacity to the Nigerian grid, the first series of solar PPAs ever signed in Nigeria.

The Jigawa solar project will have an output of circa. 96 GWh per year, equivalent to the consumption of more than 650 000 people.

The plant will also generate estimated savings of around 354 000 tons of CO2 per year (World Bank data).

The community is strongly involved in the project at all steps in order to ensure support from all stakeholders and positive local impact, in line with GreenWish and Oriental’s inclusive business models.

The plant will also create 300 jobs during construction and 25 permanent jobs during operations.

Finally, the project will feed local infrastructures such as hospitals, schools and businesses with grid power, directly and indirectly creating hundreds of jobs in the region.

Nigeria has installed generation capacity of 12.6GW, but availability of considerably less than that, and average transmission of between 3 and 4.5GW over the last year. This is further affected by disruption to gas supply, on which the vast majority of Nigeria’s power infrastructure relies. The development of significant generation capacity in solar, and other renewables offers a strong counterbalance to the vulnerability of gas production and distribution infrastructure, while significantly reducing Nigeria’s long term carbon footprint.

Commenting on the partnership, Alhaji (Dr.)Muhammadu Indimi, Oriental Group Chairman said: “Nigeria’s potential is hindered by the current power deficit. Oriental Group recognises the important role renewable energy can play in bridging this gap by offering up a viable alternative to oil and gas extraction. The potential impact of solar power is limitless and will cut across all sectors of the economy, reducing the cost of doing business and increasing the quality of life for Nigerians.

“We are pleased to be working in Partnership with GreenWish. They share our belief that renewable energy has the potential to meet the challenges we face and are bringing a combination of both financial and technical support. I look forward to working with them as we work towards financial close.”

Charlotte Aubin-Kalaidjian, president, GreenWish Partners also commented saying: “The Jigawa solar plant is a first concrete step towards the extension and diversification of the energy mix for a sustainable electrification of Nigeria. Not only will the solar farm help local communities in remote areas to have access to electricity, it will also unleash economic activity while reducing the deficit of the balance of payments for the country as a whole.”


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CWG Board of Directors Approves 400% Increase in Dividend Payout

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CWG Plc has announced a significant milestone in its commitment to delivering value to shareholders. Following a thorough review of the company’s financial performance and outlook, the Board of Directors has approved a substantial increase of 400per cent in dividend payout to shareholders.

This decision reflects CWG’s confidence in its financial stability, growth trajectory, and ability to generate sustainable returns. By enhancing the dividend payout, CWG aims to reward shareholders for their continued trust and support while reaffirming its commitment to creating long-term value.

Mr. Philip Obioha, Chairman of the Board of Directors at CWG Plc, said, “The decision to approve a 400% increase in dividend payout underscores our confidence in CWG’s performance and outlook. We are dedicated to delivering value to our shareholders and believe that this significant dividend increase is a testament to our commitment to shareholder value creation.”

This increase in dividend payout aligns with CWG’s strategic objectives to prioritize shareholder interests and maintain strong financial discipline. The Board remains committed to prudent financial management and sustainable growth, ensuring that CWG continues to be a reliable investment for shareholders.

As CWG continues to execute its growth strategy and expand its presence in the market, the Board anticipates that the increased dividend payout will further strengthen investor confidence and support CWG’s vision for the future.


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Prof. Aliyu, AI Practitioner to Keynote ABoICT 2024

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CommunicationsWeek Media Limited, a certified global ICT company with over two million online subscribers, is delighted and proud to announce Prof. Yakub Aliyu, as the keynote speaker at Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture series 2024.

 

Aliyu, will be speaking on the theme: Artificial Intelligence (AI): The Good, The Complex and The Anticipated”, this leans heavily on the fact that AI changing our lives– we just need to know where to look today.

This year’s rebranded Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture/Awards Series is slated for Saturday, May 25, 2024 at the Four Points by Sheraton, Lagos.

The event is the most prestigious annual event that brings together captains of industry in both technology and financial worlds.

According to Ken Nwogbo, CEO, Communication Week Media Ltd, organisers of the ABoICT Distinguished Lecture/Awards Series, “the choice of Prof. Yakub Aliyu is deliberate because of his exceptional career in Artificial Intelligence (AI)”.

He added that, AI is considered to have the potential to instigate a fourth industrial revolution,1 and is dramatically changing people’s patterns of interaction and economic activities.

“The traditional factors of production and physical capital and labour may no longer promote substantial economic growth. It is generally believed that AI will be one of the most important factors determining future economic growth,” he said.

A professor of microelectronics and a scholar-practitioner in artificial intelligence and deep machine learning for industrial applications and high-speed application processors. His research interests include Multimodal AI models for high-efficiency industrial robot applications and Human AI interactions.

He also has adjunct academic professorships at five African, USA, and UK universities. Holds a BS in Applied Physics Electronics from Karlsruhe and A Bello Universities in Germany and Nigeria, an MBA in International Business Management from the University of London, an MSEE (Master of Engineering, Electronics), and a Ph.D. in Electronics Engineering from the University of Wales.

Prof. Aliyu is the global quality director for Bourns Inc., Riverside, California, USA, an electronics system, and components manufacturer. I oversee quality functions in 21 factories worldwide.

He has also held quality and operational management leadership positions at National Semiconductors, Bell Labs-Lucent Technology, Texas Instrument, Global Foundries, and Roper Technologies USA.

Authored and coauthored over 30 Advanced Technology United States-issued patents in High-Speed Application Processors and Contributed to over 40 international impact Journals, chapters, and conferences; FASI, SMIEEE USA, MIEE UK, M. Inst pf Physics Chartered Phys and C Eng UK.

Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Engr. Yomi Bolarinwa, former Director-General of National Broadcasting Commission (NBC); Dr. Jean Luc Fort, CEO at OR System France and a specialist in Counterparty Risk; and Professor Chris Nwagboso, Chairman, Knowledge Factory International, United Kingdom.

Others are: Uche Orji, managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, Managing Director, Rack Centre Limited; Peter Adedayo Arogundade, managing director and chief executive officer, Sidmach Technologies Nigeria Limited; Dr. Adewale Obadare, chief visionary officer, Digital Encode and John Obaro, CEO and founder of Systemspecs; Prof. Isa Pantanmi, minister of Communications and Digital Economy; Dr. Seyi Akindeind, co-founder, Digital Encode; Dr Krishnan Ranganath, Regional Director, Africa Data Centres.


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Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

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Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.

Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

Participants at the event

Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,

This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.

While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.

Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.

It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.

Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.

Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.

 

 

 

 

 

 

 

 

 


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