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Economy, Energy

Nigeria’s Minister of Science and Technology, Dr Ogbonnaya Onu has said that local production of solar cells will slash the price of solar panels by 60 per cent.


This is contained in a statement by Head, Press and Public Relations of the ministry, Ms Josephine Ademu, on Friday in Abuja.


Onu, during a virtual meeting with Mr Francesca Camera, Director-General, International Renewable Energy Agency (IRENA), said that the production would also help transform Nigeria’s economy.


According to him, the production of indigenous solar cells will have a positive impact on many industries in the country.


He sought the assistance of IRENA on institutional capacity building for research in enhancing green hydrogen energy, adding that Nigeria has immense gas reserves.


He advised that renewable energy should be fully exploited as solar energy would enable rural communities to have access to sustainable electricity power.


The minister further said that activities of Nigeria as a member nation of the agency would help make renewable energy more available.


“We want to make our solar cells in Nigeria; more foreign investors should be encouraged to come into Nigeria, which has a huge market of 200 million people,” he said.


Onu noted that the country was committed to ensuring the protection and preservation of the planet for future generations.


He assured that Nigeria would participate and fulfill its obligations as a member state of IRENA.


Earlier, Camera commended the country’s commitment to the agency adding that IRENA would find ways to boost Foreign Direct Investment (FDI) into Nigeria.


He said that the agency would collaborate further with Nigeria in developing renewable energy and ways


Finance, TRAVEL

In commemoration of this year’s  National Diaspora Day event, Ecobank Nigeria is joining the rest of the country to celebrate Nigerians in the diaspora by making transactions on its proprietary money transfer app, Rapidtransfer, free of charge.


The Federal Government has set aside July 25 of every year as the National Diaspora Day in recognition of the contributions of Nigerians living outside the country towards the development of their homeland.


In a commemorative message, Managing Director, Ecobank Nigeria, Patrick Akinwuntan stated  that Nigerians in the diaspora contribute significantly to the socio-economic development of the country. Mr. Akinwuntan lauded the decision of the Federal Government to set aside a special day every year as the National Diaspora Day, adding that the recent launch of the National Diaspora Policy (NDP) by the government would further promote and harness the resources and capacity of Nigerians in the diaspora towards national development.


 “As a pan-African institution positioned to foster the economic growth and integration of our continent, we are particularly pleased to work closely with NiDCOM, ably led by the Chairman/CEO, Hon Abike Dabiri-Erewa towards the engagement of Nigerians in the diaspora on policies, projects and other initiatives geared at developing the nation. From our constant engagement with Nigerians in the Diaspora, we understand their peculiar needs and have created tailor-made solutions to serve them effectively.” He noted further that Ecobank has partnered NiDCOM on webinars, diaspora quarterly lecture series and will continue to seek other collaboration opportunities to deepen engagement with the diaspora community.


Also speaking,  Korede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria said Ecobank will apply zero fees to all Rapidtransfer transactions from 1st July till the end of October, 2021,  thereby enabling Nigerians living abroad to send money to their loved ones affordably. According to her, the decision to waive charges underscores the bank’s commitment to helping Nigerians abroad remit money home without placing an additional burden of charges on them, especially at this period of global economic downturn.


Rapidtransfer is Ecobank’s proprietary money transfer service which enables users send funds across borders, affordably and instantly. The Rapidtransfer app is available for use by Ecobank and non-Ecobank customers. Remittances can be received directly into the recipient’s account or as cash at any Ecobank branch. Beneficiaries who wish to receive funds into an account but do not have domiciliary accounts have the opportunity to open in Euro, GBP or USD instantly and enjoy all the benefits that come with Ecobank foreign currency accounts.


In addition, N5 is paid on every one dollar received as cash or direct to account in line with the Central Bank of Nigeria’s ongoing Naira for Dollar initiative.