Cryptocurrency versus other financial instruments: how a small market affects a large market – Journal of Investment Strategies
The volatility of cryptocurrency quotes makes them the most risky financial instrument.
The situation in the Bitcoin market is independent of other financial markets, while inversely the situation in the Bitcoin market has a significant impact on other financial markets.
The future of the cryptocurrency market is unclear. They are not under state control, but state institutions may restrict their use.
Over the past few years the idea of an international virtual currency has been implemented practically. Because it represents a convenient way of transferring funds, cryptocurrency has become a substitute for traditional money as a modern electronic means of payment that could potentially change the current financial system. In this context, the digital currency market can be assessed in terms of this emerging economic sector, which competes with traditional financial markets. This study analyzes the impact of cryptocurrencies on the function and position of financial markets. It covers the economic situation of the cryptocurrency market, capital market (Standard & Poor’s 500 index), commodity market (gold and oil) and currency market (US dollars or euros), which are characterized by descriptive statistics. Our business linkage studies are based on correlation using weekly data for the period January 2017–March 2021. Despite the fact that cryptocurrencies have aroused great interest, this is still an additional small market that does not constitute much competition to traditional financial markets. Until now, stock markets were considered the most risky; cryptocurrency markets can now be considered as such: they offer considerable income but are very unstable.
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*FG raises N4.7 trillion as corporates elevate N802 bn YtD
*Analysts advise possibilities on personal sector debt cash
*Danger of sovereign default, financial nightmares rising, use of debt as funding instrument careless — Experts
By Peter Egwuatu
Indications have emerged that the Federal Government’s bond challenges are squeezing the private sector out of the bonds marketplace as it has lifted more than N4.7 trillion, much earlier mentioned what private sector organisations have been equipped to raise from the Nigerian funds market, Year-to-Day, YtD August 2021.
The private sector lifted N802 billion in corporate bonds from the money industry for the very same period of time.
For that reason, analysts and capital current market operators have criticised government’s abnormal borrowing from both inner and global markets without thinking about the revenue to provider the debt even as it has attained the alarming place of crowding out the effective authentic sector.
Browse ALSO: Makurdi inhabitants, business entrepreneurs groan over 4 months electricity outage
Analysts posited that the crowding out result on the personal sector poses grave hazard to the potential of the true sector to generate wealth and make effective work. They thus advocated small interest fee surroundings for the non-public sector to be encouraged to increase financial debt capital (company bonds).
Sukuk, Eco-friendly, Euro bonds
Meanwhile, the Federal Governing administration had issued Sukuk bond, Green bond and Eurobond. Federal Federal government bonds are the most liquid and capitalized bonds on the Nigerian Trade Restricted, NGX.
The Federal Government issues bonds in the primary market via the Personal debt Management Office environment, DMO at its month to month auctions and these bonds are subsequently detailed on the exchange for buying and selling.
These bonds are backed by the whole religion and credit rating of the Federal Authorities of Nigeria and are semi-yearly, coupon-paying bonds. Revenue attained on FGN Bonds is tax-totally free.
Money Vanguard findings from data received from NGX showed that the Federal Govt had raised more than N4.7 billion which had been detailed on the trade, Year to Date, YtD, August 2021though about N802 billion of corporate bonds in various groups had been lifted and shown accordingly.
The many firms that have taken advantage of the low overall performance in the fixed income sector to raise bonds at prices underneath 10 per cent to the tune of N802 billion features 3 issuers particularly, Dangote Cement Plc, N300 billion MTN Nigeria Plc, N100 billion and BUA Cement Plc, N115 billion. They lifted more than 60 per ent of the overall bond raised in the current market.
Other issuers incorporate Fidelity Lender Plc which raised N41.213 billion Flour Mills of Nigeria Plc elevated N29.8 billion Nova Service provider Bank lifted N10 billion Emzor Pharmaceuticals raised N13.7 billion whilst Mecure Industries accessed the sector for N3 billion.
Other individuals are CardinalStone Financing SPV Plc which lifted N5 billion C& I Leasing Plc (N10 billion) CERPAC (N15 billion), and Coronation Service provider Lender, N30 billion.
Analysts, industry operators react
Reacting, analysts and Vice Chairman, Highcap Securities Confined, David Adonri claimed: “Both externally and internally, authorities has taken and is still getting additional debt. This is growing the hazard of sovereign default and economic nightmares.
“The hard currency earning capability of Nigeria may perhaps also not be enough, now and in near foreseeable future, to empower government services mounting international credit card debt.”
Lamenting the crowding out impact of government borrowing, Adonri reported: “Internally, the borrowing has now attained the alarming level of crowding out the productive true sector.
This poses grave danger to the capacity of the actual sector to generate prosperity and create effective employment. In just about every capitalist overall economy like ours, federal government has most important obligation via insurance policies and actions to protect against any crowding out effect and to ensure larger funds formation by the non-public, productive genuine sector.
“Excessive borrowing by this authorities at the cost of the private sector which is the engine place of the financial state, delivers to concern the soundness of their economic system.”
On credit card debt servicing, he stated: “The careless use of personal debt as a financing device is fraught with calamitous risks. Even far more disheartening is when the money owed are principally made use of to finance intake or to unwisely finance couple secondary infrastructure (streets and rail).
“These will neither increase the effective momentum of Nigeria’s light-weight industries nor make the economic climate self-reliant. The disorderly progress of the financial state this administration is pursuing can only mislead the country into an abyss if general public borrowing is not curtailed to reduce value of resources so that generation will be competitive.”
“Nigerian authorities is reckless in its monetary administration. Their expenditure is considerably outside of revenues and safe personal debt degree.
“If they do not retrace their steps by instituting prudent fiscal management and also boost advancement of primary infrastructure ie, engineering infrastructure (specialized instruction, metallurgical marketplace, electric electrical power industry, chemical field and modern day strength field), as a result of private sector initiative, the only outcome will be continuation of economic wailings” he observed.
Analyst and Head of Investigate and Financial commitment at Fidelity Securities Minimal, FSL, Victor Chiazor, claimed: “The Federal Governing administration will go on to lead in conditions of boosting debt money provided the fascination price environment in the country.
“Private sector borrowing does not prosper underneath significant fascination charge surroundings as this sort of borrowings most occasions develop into harmful for their small business. The desire price setting desires to be lower for the personal sector to be inspired to raise credit card debt cash.
“This expansionary evaluate will also make improvements to economic actions as the economic system will reward from higher level of business enterprise things to do as towards when firms are unable to elevate essential funds to mature their corporations for the reason that of the worry of getting not able to meet up with financial debt obligations.”
In his very own comment, analysts and Running Director, APT Securities & Fund Minimal, Mallam Garba Kurfi stated:
“The marketplace is large ample to accommodate both. Do not neglect PFAs take care of around N13 trillion which are all set to invest. I even now believe the point out governments are cost-free to check out the current market or Planet Lender for funds, specifically for improvement.
“Kaduna State has performed exact same and appear at the progress likely on. Lagos Point out has frequented the market for a state bond.
The economic system is sensation the strain as the Gross Domestic Product, GDP half-yr rise to five per cent. Without having borrowing the overall economy will not recuperate speedy.“
Reacting as perfectly, analysts and Chief Functioning Officer, InvestData Consulting Restricted, Ambrose Omorodion claimed: “From my have see, the market is to provider the federal government and non-public sector, govt crowding out private sector because of to their big and continued borrowing domestically and internationally is not superior but borrowing at a reduced fee is opportunity for the non-public sector to technique the current market for money but lots of are not getting gain of this.
If the federal government lowers its borrowing prices to handle the large charge of servicing personal debt, cash will circulation to equity area in lookup of improved returns, especially as these companies’ earnings are becoming more robust to aid share selling price and payout at the conclude of the working day.”
Friday
October 01, 2021 / 08:32 PM / by NGX/ Header Image
Credit: NGX
Nigerian Exchange (NGX) Limited brought
together a caste of leading industry experts to dimension the digital
transformation of the financial services space with a keen focus on the
Nigerian capital market at its inaugural NGX TechNovation Conference. The virtual
event with the theme, Technology, Platforms and Markets held on Thursday, 30
September 2021 and featured critical discussions around technology, partnerships and innovation that can boost
the advancement of the Nigerian economy.
Speaking during the conference, the Chief
Executive Officer, NGX, Mr. Temi Popoola, CFA noted, “The conference is
particularly important to us at NGX because we have stepped into an era that
signals a new horizon of opportunities. NGX is a technology powerhouse that
leverages smart business models to deliver vertical platforms across capital
formation, investment, capacity building, market development and a plethora of
other services within the capital markets ecosystem. We are committed to
developing innovative solutions that drive, not just internal efficiency at the
exchange but that support wider efforts by various stakeholders at ensuring a
full digitalization of the Nigerian capital markets. We are extending our
platform competencies in line with our strategic aspirations while leveraging
best in class digital innovation to deliver value to our stakeholders and
markets.”
In giving his goodwill message at TechNovation, the
Director General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda
stated, “I would like to begin by commending Mr. Temi Popola, CEO, NGX and his
team for putting together and event like this which shows our resilience as a
people and ability to face challenges. The theme of today’s conference, Technology, Platforms and Markets indeed captures the mood in world today and the
inevitable coming together of the three segments in view of the COVID-19
pandemic which has forced us all to stretch possibilities and adopt new ways of
performing our functions. These recent shifts certainly pose a challenge and a
huge opportunity to both financial sector regulators and conventional financial
services providers like NGX. It is, therefore, important that we facilitate
conversations like this to ensure we strike the right balance between
innovation, integrity and protection of investors, without whom there will be
no markets”.
This was immediately followed by the keynote address
delivered by Co-Founder and CEO, Flutterwave, Olugbenga Agboola, who noted, “As
of today, we are in the information age where technology is leapfrogging every
business model and infrastructure we can think about. This has of course
facilitated growth that we see across the landscape in different terrains. A
key driver in the proliferation of technology solutions in Nigeria has been mobile
penetration and we expect to see continued growth in this regard. Against the
backdrop of evolving solutions, African startups have raised over $1Billion in
funding which is unprecedented for technology companies. The industry must
however recognise that funders and regulators are the biggest stakeholders that
must work together to drive digitalisaton across Africa and provide a platform
for capital raising and global recognition for Nigerian companies at all
stages.”
The event also featured a presentation from President,
Africa Fintech Network, Dr. Segun Aina who commented thus, 2I commend NGX
Limited for putting this conference together, as it shows continued commitment
to digital initiatives that can reposition and improve the Nigerian Capital
Market and ensure its leadership position not only in Africa and across the
world. I would also like to acknowledge the contributions of NGX to the Fintech
Association of Nigeria of which it is an early member and continues to
contribute and leverage on its membership and also support the growth of the
Nigerian capital market.”
NGX TechNovation was a truly inspired event with two
panel sessions that provided insights into a wide spectrum of topics. The first
panel session themed, The Path to Exponential Growth – New Technology,
Platforms, Emerging Markets, highlighted, the need for stakeholders to take
a proactive and deliberate approach to building infrastructure that will
support the growth of technology companies and the adoption of innovative
solutions in operating businesses and creating value within the industry. The
panel featured Founder & General Partner, Future Africa, Iyin Aboyeji;
Partner, McKinsey & Company, Topsy Kola-Oyeneyin; Country Manager, Opay
Nigeria,; Divisional Head, Listings Business, NGX, Mr. Olumide Bolumole; with
Director, Frontier/SSA Banks & FinTech Equity Research, Renaissance
Capital, Adesoji Solanke serving as moderator.
The second session of the day focused on the topic, Beyond
Tech – Partnerships, Business Models, Innovation, Data and Regulation and
highlighted the interconnectedness of stakeholders within the business
ecosystem that requires extensive stakeholder engagement and forward thinking
partnership and collaborations to harness the competitive advantage across the
spectrum. Speakers on the panel were Executive Commissioner
(Operations), Securities and Exchange Commission, Dayo Obisan; Founding
Partner, Ventures Platform, Kola Aina; Chief Executive Officer &
Co-Founder, F10, Andreas Itern; Senior Ambassador, Seedstars Nigeria, Alessia
Balducci; Partner, Microtraction, Chidinma Iwueke; with Chief Customer
Experience Officer, Interswitch Group, Oremeyi Akah as moderator.
Showcasing NGX’s technology investments over the
years, NGX TechNovation featured a video production on the array of products
and services NGX provides leveraging technology for the benefit of its various
stakeholder groups.
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Vice President Yemi Osinbajo SAN gets in the audience the FMDQ Team led by its CEO Mr. Bola Onadele at the Point out Home, Abuja. 20th Sept, 2021. (Image by Tolani Alli)
In the quest to near the housing deficit in the place, Vice President Yemi Osinbajo, SAN has tasked money marketplace authorities to aid government’s efforts by building an appropriate housing finance product that will noticeably rework the housing sector on a significant scale, Business Class.
Prof. Osinbajo said this on Monday when he obtained on a courtesy go to to the Presidential Villa, a delegation from the FMDQ Team led by its CEO, Mr Bola Onadele.
He also been given a delegation from the Independent Petroleum Producers Group right now.
Economic authorities say the housing deficit in Nigeria is approximated amongst 18-22 million housing models, while the ratio of home loan finance to GDP in the place is only .5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} it is 31{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in South Africa and 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in Ghana and Botswana.
But just after listening to a presentation by the FMDQ delegation, Prof. Osinbajo said “I like the issue you built about the National Housing Blueprint. I quite strongly think that if we are ready to unlock the conundrum in the sector, we can get things functioning.”
In accordance to the Vice President, “in our ESP, we have anything on social housing but just one of the significant concerns there is how to market these properties, how we are ready to deliver the finance so that people can afford to get them. These are homes that are in the order of about N2 million or N2.5 million.
“But there are however constraints on account of the fact that we just do not have anything like a feasible housing finance model, I imagine it is time for us to do so. It just appears to be like like it has generally escaped our potential to uncover a actual remedy to the difficulty.”
Speaking on the risk of getting a product that will get the job done, Prof. Osinbajo famous that “everyone acknowledges that we are in very challenging instances. But I agree with you that the sheer vary and vastness of our potentials make it appear to be practically intuitive that we are sure to succeed.
“I have no question in my thoughts in any respect, that provided the right mix of policy initiatives, we can get these points carried out. And your characterization of what demands to be accomplished like attracting money and sustaining it is so crucial simply because ultimately, cash will go wherever it is very best taken care of.
“And if we are capable to attract it (mainly because we have the marketplace, we have almost everything likely for us), even in the worst of situations, despite the predicament, you discover that there is nonetheless a wonderful offer of curiosity.”
Speaking earlier, Mr Bola Onadele reported the check out was to advise the Vice President about the transformation getting spot in the FMDQ and the have to have for governing administration aid in expanding the financial market place for the gain of Nigerians and the economy.
Even though applauding the attempts of the Buhari administration in producing the setting for the transformation to manifest, Mr Onadele discovered locations of desire for financial commitment in the market place to include housing finance, and mobilizing cash for tasks in the transportation sector, between many others.
Fiscal Market Sellers Quotation (FMDQ) is Africa’s initially vertically built-in economical current market infrastructure (FMI) team, strategically positioned to provide registration, listing and quotation solutions, and is owned by the Central Bank and professional banking companies in Nigeria.
During the other conference with stakeholders in Nigeria’s oil and gas industry beneath the auspices of Unbiased Petroleum Producers Team (IPPG), the team counseled the Vice President’s peace endeavours in the Niger Delta in 2016 that ensured peace and protection of investments in the area at a time when the nation experienced a economic downturn.
Chairman of IPPG, Mr Abdulrazak Isa built the commendation right now even though he and major executives of the team compensated a courtesy visit to the Presidential Villa, Abuja.
In accordance to him, “Your Excellency, you have been a wonderful supporter of our association. Recall that a long time in the past, your unprecedented intervention assisted in resolving the safety scenario that we confronted in the Niger Delta area. Given that that time, we have not recorded a single incident of attack on our services.”
Contributing, the quick earlier president of the team, Mr Ademola Adeyemi-Bero additional that since the intervention of the VP when he frequented oil-manufacturing communities in the 8 states of Delta, Rivers, Akwa Ibom, Edo, Bayelsa, Imo, Abia and Ondo, “we have not experienced just one shutdown of our amenities.”
When soliciting the aid of the Federal Authorities in securing investments in the sector, Mr Isa disclosed that the crisis resolution model deployed by the VP in 2016 will be replicated by IPPG to handle emerging safety threats on oil and fuel facilities in the southeast.
The VP then assured the group of the Buhari administration’s commitment to the stability of lives and home, noting that federal government is open up to suggestions that would direct to lasting resolution of the disaster.
Prof. Osinbajo also called for collaboration among the Federal Governing administration and other stakeholders in the oil and gas sector in advocating for a just electricity transition pertaining to the world wide internet-zero emission target in 2050.
Vice President Yemi Osinbajo has charged the nation’s fiscal marketplaces experts to collaborate with government with a perspective to tackling Nigeria’s housing trouble.
He has therefore, tasked the professionals to create an acceptable housing scheme design which will drastically transform the housing sector on a big scale and shut the housing deficit in the country.
Osinbajo created this contact yesterday at the State House, Abuja, when he played host to the management of FMDQ Group led by its main govt officer(CEO), Mr. CEO, Mr. Bola Onadele.Koko.
FMDQ is Africa’s initially vertically built-in economical market infrastructure group, strategically positioned to providing registration, listing, quotation and noting providers built-in buying and selling, clearing
& central counterparty, settlement, and chance administration for economic market transactions depository of securities, as very well as facts and info providers, throughout the credit card debt funds, international exchange, derivatives and equity marketplaces, via its wholly owned subsidiaries.
Economic experts experienced set the housing deficit in Nigeria involving 18-22 million housing models, though the ratio of property finance loan finance to GDP in the country is only .5 per cent, 31 for each cent in South Africa, and 2. for each cent in Ghana and Botswana.
Talking soon after listening to a presentation by the FMDQ CEO, Osinbajo reported: “I like the level you designed about the National Housing Blueprint. I extremely strongly consider that if we are capable to unlock the conundrum in the sector, we can get items doing the job.”
In accordance to him, “in our ESP, we have one thing on social housing but a person of the critical difficulties there is how to current market these houses, how we are equipped to give the finance so that people can afford to buy them. These are homes that are in the buy of about N2 million or N2.5 million.’
“But there are however constraints on account of the point that we just do not have just about anything like a possible housing finance model, I feel it is time for us to do so. It just appears to be like it has usually escaped our ability to come across a actual resolution to the difficulty.”
On the possibility of having a model that will perform, Osinbajo observed that “everyone recognizes that we are in very hard instances. But I agree with you that the sheer array and vastness of our potentials make it feel virtually intuitive that we are certain to triumph.
“I have no doubt in my brain in any way, that specified the correct combine of coverage initiatives, we can get these items carried out. And your characterisation of what requires to be carried out like attracting money and sustaining it is so crucial because in the end, money will go the place it is best dealt with.
“And if we are equipped to bring in it (since we have the sector, we have all the things likely for us), even in the worst of periods, despite the scenario, you come across that there is even now a excellent deal of fascination.”
Previously in his remarks, Onadele said the go to was to advise the vice president about the transformation using put in the FMDQ and the want for govt help in growing the money sector for the reward of Nigerians and the financial state.
Whilst applauding the initiatives of the Buhari administration in creating the environment for the transformation to occur, Onadele recognized areas of fascination for expenditure in the marketplace to incorporate housing finance and mobilizing money for tasks in the transportation sector, among the many others.
He reiterated FMDQ’s determination to accomplishing its strategic roles as
a industry organiser, catalyst for capital formation, adviser to governments and regulators and economical marketplaces diplomat, to aid the advancement and implementation of progressive alternatives in the direction of attracting cash to improve productiveness in Nigeria, lessen unemployment, bridge the infrastructure
gap, and help Nigeria’s accomplishment of the United Nations Sustainable Development Goals.
Onadele also asserted that a single of the top priorities for FMDQ was to guidance the progress of commerce in Nigeria, postulating that commerce was the everyday living blood of each individual nation, and that flourishing and liquid dollars, money and foreign exchange markets ended up sine qua non in the improvement of Nigeria’s
trade, sector, and commerce. He indicated that FMDQ demonstrated its agenda in this respect as a result of the establishment of the FMDQ private marketplaces, to advertise the inclusion of non-public providers in the cash marketplaces, and give accessibility to lengthy-term non-public funds to small, medium,
and huge enterprises.
Also yesterday, at yet another conference with stakeholders in Nigeria’s oil and gas market beneath the auspices of Impartial Petroleum Producers Team (IPPG), the group recommended the VP’s peace efforts in the Niger Delta in 2016 that ensured peace and security of investments in the area at a time when the country endured a recession.
Chairman of IPPG, Mr. Abdulrazak Isa, declared that Osinbajo had been a fantastic supporter of the affiliation declaring “your unparalleled intervention helped in resolving the protection problem that we faced in the Niger Delta area. Considering the fact that that time, we have not recorded just one incident of attack on our facilities.”
When soliciting the guidance of the federal governing administration in securing investments in the sector, Isa disclosed that the disaster resolution product deployed by the VP in 2016 will be replicated by IPPG to tackle rising security threats on oil and fuel amenities in the southeast.
Also speaking, the quick earlier president of the team, Mr. Ademola Adeyemi-Bero, included that considering that the intervention of the VP when he visited oil-making communities in the 8 states of Delta, Rivers, Akwa Ibom, Edo, Bayelsa, Imo, Abia and Ondo, “we have not experienced just one shutdown of our facilities.”
Responding, the VP assured the team of the Buhari administration’s determination to the stability of lives and property, noting that federal government is open up to recommendations that would guide to permanent resolution of the crisis.
Osinbajo also named for collaboration between the Federal Governing administration and other stakeholders in the oil and fuel sector in advocating for a just strength changeover concerning the world-wide net-zero emission concentrate on in 2050.
Vice President Yemi Osinbajo has urged financial market place gurus to assist the Federal Government’s endeavours by developing an correct housing finance product that will considerably renovate the housing sector on a significant scale.
Osinbajo mentioned this on Monday when he gained on a courtesy go to to the Presidential Villa, a delegation from the Fiscal Marketplaces Sellers Quotations Team led by its CEO, Bola Onadele who arrived alongside a delegation from the Impartial Petroleum Producers Team.
Senior Unique Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement titled ‘Let’s unlock Nigeria’s housing deficit, Osinbajo tasks economical sector industry experts.’
Financial authorities posit that the housing deficit in Nigeria is estimated in between 18-22 million housing models, when the ratio of home loan finance to GDP in the region is only .5 for each cent, it is 31 for each cent in South Africa and two for every cent in Ghana and Botswana.
In his address, the Vice President reported, “I like the place you made about the National Housing Blueprint. I incredibly strongly imagine that if we can unlock the conundrum in the sector, we can get items operating.
“In our ESP, we have anything on social housing but a person of the significant issues there is how to current market these houses, how we can give the finance so that people can find the money for to obtain them. These are properties that are in the order of about N2million or N2.5 million.
“But there are continue to constraints on account of the reality that we just do not have everything like a feasible housing finance product, I consider it is time for us to do so. It just appears like it has often escaped our capability to discover a actual resolution to the trouble.”
Speaking on the probability of obtaining a design that will do the job, Osinbajo famous that “everyone recognises that we are in pretty difficult periods. But I agree with you that the sheer array and vastness of our potentials make it look just about intuitive that we are bound to succeed.
“I have no question in my intellect by any means, that supplied the ideal blend of coverage initiatives, we can get these issues carried out. And your characterization of what demands to be done like attracting funds and sustaining it is so critical simply because in the long run, money will go the place it is most effective treated.
“And if we are able to catch the attention of it (because we have the market, we have every thing heading for us), even in the worst of instances, despite the scenario, you find that there is however a fantastic offer of curiosity.”
Speaking earlier, Onadele claimed the visit was to notify the Vice President about the transformation using area in the FMDQ and the want for governing administration aid in expanding the monetary sector for the reward of Nigerians and the financial state.
While applauding the efforts of the Buhari administration in creating the environment for the transformation to arise, he recognized spots of fascination for expenditure in the marketplace to include housing finance and mobilizing capital for assignments in the transportation sector amongst some others.
In a individual meeting with stakeholders in Nigeria’s oil and gasoline business less than the auspices of Impartial Petroleum Producers Group, Osinbajo named for collaboration among the Federal Government and other stakeholders in the oil and fuel sector in advocating for a just power transition pertaining to the international net-zero emission focus on in 2050.
In a delegation led by its Chairman, Abdulrazak Isa, the IPPG recommended the Vice President’s peace endeavours in the Niger Delta in 2016 that ensured peace and stability of investments in the location at a time when the country endured a recession.
He mentioned, “Your Excellency, you have been a terrific supporter of our affiliation. Remember that yrs in the past, your unparalleled intervention served in resolving the stability predicament that we confronted in the Niger Delta location. Due to the fact that time, we have not recorded one incident of attack on our services.”
Although soliciting the help of the Federal Federal government in securing investments in the sector, Isa disclosed that the disaster resolution model deployed by the Vice President in 2016 will be replicated by IPPG to deal with rising safety threats on oil and gasoline facilities in the southeast.
