| ... |
... |
@@ -1,0
+1,12 @@ |
|
1 |
+Nigeria has a lot of fossil fuels – they need nuclear power or else they’ll shift. Also need it to solve future electricity losses. |
|
2 |
+Ajasa 4/6 Femi Ajasa, 4/6/16, "Nuclear Nigeria, potential Nigeria," Vanguard News, http://www.vanguardngr.com/2016/04/nuclear-nigeria-potential-nigeria/ AP |
|
3 |
+The world looked up to Nigeria that has become a potential giant from the continent of Africa, with her vast natural and human endowments. Today we are not in the club of great nationsbecausewe have not been able to utilizeourinnate releasing mechanisms to stimulate instinctive behaviours. We have not been successful in making the most of the potential energy to generate electric power for needed socio-economic development.We traversed energy sources from hydro tofossil fuels. In the early 2000s we embarked on grandiose electric generating projects with virtually no provisions for gas supplies to power generating plants. Some generating plants were sited in areas not close to gas sources. Pipelines were connected to power plants but for unknown reasons became vulnerable and vandals’ havens. The result was some generating capacity without corresponding distributing capacity. It is inexplicable that Nigeria of the 21st century cannot generate and distributeup to 5000 megawatts of electric power from petroleum, save for security which can be addressed if we are serious. With insufficient power and relying on western technology and global warming crusadewe are becoming enervated, restive and restless, and contemplating alternatives. Renewable energy sources are solar, wind, biomass, biofuel, geothermal and hydropower. We have comparative and competitive advantages in known conventional energy sources as fossil fuels of coal, oil and gas. Nigeria is now touting and palavering about nuclear energy for electricity while some countries have started phasing them completely. Nations that acquired nuclear energy facilities have varied stories to tell. Nuclear energy economic safety and labour problems are reasons for shutdowns in the United States. France has cancelled several planned nuclear reactors and has replaced aging nuclear plants with environmentally safer fossil fuel plants. Germany announced a planned phase out of nuclear energy in 1998.In Italy a 2011 referendum rejected the 2009 legislation setting up arrangements to generate 25 percent of electricity from nuclear power and bringing new nuclear plants to a halt. This was a fallout of the April 26, 1986 Chernobyl nuclear reactor in the present day Ukraine (defunct Soviet Union). As a frontline state againstapartheid, Nigeria established the Nigeria Atomic Energy Commision (NAEC) for the national nuclear energy programme implementation with nuclear research centres at Zaria and Ile Ife in 1976. We did not progress beyondthe 30 Kw Chinese miniature neutron source research reactor commissioned in Zaria in2004 . The nuclear programme was in response to fears thatthe defunct apartheid regime had acquiredweapons of mass destruction including biological, chemical and nuclear weapons. Heralding majority rule, South Africa dismantled the nuclear weapons, making her the first nation to have done so. President Buhari early April 1, 2016 at therecently concluded Nuclear Security Summit in Washington pressed for Nigeria’s nuclear energy development for her energy needs. In March he eagerly welcomed the International Atomic Energy Agency (IAEA) Director General, Yukiya Amano and his agency’s support for Nigeria’s 1000 MW nuclear facility expandable to 4000 MW. One believes that liquid fossil fuel energy source especially natural gas is cheaper in all ramifications. High construction costs, strict building and operating regulations, and high cost for waste disposal make nuclear power plants much more expensive to build and operate than plants that burn fossil fuels.It cost even more to decommission nuclear plants when they cease to be productive and wastes are very serious contributors to pollution. If we may embark on this mission all stakeholders involved from the conception to commissioning including NAEC leadership and two host communities proposedin two states must be kept intact.We learnt that since appraisal teams visited in 2009, no follow ups have been made to any site. Nigeria is supposed to have actualized the Nuclear Programme infrastructure between 2006 and 2017. |
|
4 |
+Implementing nuclear power is the only way to restore and ensure Nigeria’s future of electricity |
|
5 |
+Ikenna 9/5 Ikenna, 9/5/16, "Nigeria is ready for nuclear energy- Fashola," Vanguard News, http://www.vanguardngr.com/2016/05/nigeria-is-ready-for-nuclear-energy-fashola/ AP |
|
6 |
+The Minster of Power, Works and Housing, Mr Babatunde Fashola, who made this known at the News Agency of Nigeria (NAN) Forum in Abuja, said Nigeria had secured the necessary certification from the International Atomic Energy Agency(IAEA). Fashola Fashola said: “`This thing has protocols and standards; we are already in it; we are not venturing into it; we started a nuclear programme 17 years ago. “We have gone through the training level; we have produced 25 graduates of master’s level under certification by the International Atomic Energy Agency. “We have found the sites; the sites have been approved, two sites have been approved by International Atomic Energy Agency. “We have started the design for the financing; that is the stage we are now; once we conclude that, we move to the design for the construction. “If all things go well, by quarter four of next year – that is the schedule that I met – we should have started construction, so that is what I meet.“ Fashola said it was important for Nigeria to focus on the gains and safety of nuclear energy as obtained in other developed countries. He said that since the whole world was moving toward a cleaner fuel and the use of more sustainable form of energy, Nigeria could be an exception. He, however, said that the developed countries could only share the technology with countries ready keep to the standards in the utilisation of the technology. The minister further said that diversifying the nation’s energy mix would lead to the utilisation of the various forms of renewable energy sources in the country. This, according to him, will ultimately make electricity cheap in the country. “What we are thinking about is long-term solution. We need a solution that will endure for generations to come. “When you design a power solution, design it so that the next coming generations can use it. He said the ministry and other agencies under his supervision were working hard to ensure that Nigeria obtained the best in the electricity industry through strict regulatory responsibilities. On the monthly meeting with stakeholders in the industry, Fashola said it was designed to evolve better ways of managing the industry, adding that it was yielding the desired results. |
|
7 |
+Without electricity Nigerian econ collapse inevitable |
|
8 |
+Vargas 7/16 Byron Vargas On July 08 2015 Said, 2-25-2015, "Nigeria’s Future Depends On Electricity," OilPrice, http://oilprice.com/Energy/Energy-General/Nigerias-Future-Depends-On-Electricity.html |
|
9 |
+Nigeria has one of the worst electricity supplies in the world second only to India. No access to power hinders the country’s development in all sectors from education up to industrial production. Nigeria’s Achilles heel is therefore not Boko Haram but electricity, and if the next president won’t prioritize power generation the country risks stagnating economically in the coming years. Nigeria produces around 4,000 megawatts for a population of over 170 million; with a similar population, Brazil generates 24 times as much. South Africa consumes 55 more energy per capita than Nigeria, where half of the population does not have access to power. Those who do have some access to electricity often experience long blackouts that can amount up to seven hours a day. Unreliable power supply leaves Nigerians with no other option than oil-based expensive generators- 60 million Nigerians rely on generators on which they spend an average of 3.5 trillion Nairas a year ($17.5 billion US dollars). The power shortages constrain the daily livelihoods of Nigerians, from limiting children’s reading hours to creating food waste due to the lack of refrigeration. While Nigeria is one of the biggest telecommunications markets in Africa, many users have multiple mobile phones on different providers to make up for the constant disconnection of cell towers. Nigerians who can afford generators spend an estimate of $.40/kWh, one of the main expenses of the average household. An unreliable energy supply reduces Nigeria’s competitiveness. Business owners and international companies hesitate to invest in Nigeria since the alternative power generation becomes an expensive fixed cost decreasing their profit margins in high-energy consuming activities such as manufacturing. Reliable grid power could boost Nigeria’s GDP by 14. The current administration’s interest in diversifying the economy to break from Nigeria’s dependence on oil revenues has not been as successful as it could because there are many promising sectors that require constant electricity supply to be fully developed. How did Nigeria get to this point? The poor state of the power grid is the result of many years without investments in infrastructure, a poor maintenance record for the existing facilities and rampant corruption and graft. Following the oil boom, the state-owned electricity company has been seen as an uninteresting business for many administrations. Neglecting the necessary expansion of the power grid for so long while the population of the country has almost doubled in the past 30 years has made access to electricity the most problematic obstacle to Nigeria’s growth. Goodluck Jonathan’s government made electricity one of the key axes of his Transformation Agenda, which aims at creating inclusive growth in Nigeria. Despite Nigeria’s vast wealth from the extractive industries, the government would not be able to reach its goal of 15,000 Megawatts by 2020 without support from the private sector. Given the poor management of the state-owned electricity company, Goodluck Jonathan’s administration took the logical decision to liberalize the sector to attract private investment and subsequently increase supply. When Jonathan started his term, Nigeria generated 2500 Megawatts, after liberalizing the sector, power generation is now at its peak but still requires significant investments. The government is now investing $3.5bn of capital on expanding the national electricity grid and expects that private investment will help triple the current generation in 5 years. At the same time, the government is trying to diversify the country’s energy mix; renewable energy is becoming an attractive sector for many investors. The public sector needs to play a pivotal role through establishing clear regulatory frameworks to attract private investment. A policy package to develop Nigeria’s energy supply needs to be in line with other policies including transportation, employment, and education. Over 70 of Nigeria’s power generation comes from gas-plants, as such there is a clear need for gas infrastructure and transmission capacity that has not yet been achieved in the past years. Moreover, the government must plan for long-term results; the challenge is to keep on investing in expanding the grid while also ensuring routine maintenance. |
|
10 |
+Nigeria econ is key to the world’s – its resources and relations with other countries play a role in the global market. |
|
11 |
+Steinbock 8/1 Dan Steinbock, 8-1-2016, "Nigeria Economic Collapse," ValueWalk, http://www.valuewalk.com/2016/08/economic-collapse-nigeria/ AP |
|
12 |
+As Nigeria’s economy is contracting, domestic and global headwinds ensure that downside risks will escalate. Without aggressive economic moves and harsh security measures, the economy could face a disastrous free fall. In 2015, government deficit soared to almost 4 percent of GDP and exports fell 40 percent, which led to a current account deficit of 2.4 percent of GDP. Unsurprisingly, foreign portfolio inflows froze as investors fled, with reserves falling to $28 billion at year-end 2015. After mid-June 2016, the devalued naira plunged almost 30 percent to a record 282 per dollar as policymakers relaxed currency curbs, due to the looming recession. Since then, naira has fallen another 12 percent to 315 per dollar (while trading at 370 per dollar earlier). Devaluation is expected to go some way in alleviating foreign exchange shortage, but challenges to business activity will prevail and consumer confidence has been penalized. Last year, Nigeria’s growth was more than halved to 2.7 percent. In the first quarter, the GDP contracted 0.4 percent. Recently, the International Monetary Fund (IMF) cut the country’s 2016 GDP growth forecast to -1.8 percent; the lowest in three decades. As global prospects are diminishing, post-Brexit tensions will increase and the fall could witness new shocks in global markets, there is worse ahead. While the non-oil sector encompasses some 90 percent of the economy, the oil sector continues to fuel the GDP. As a result, the plunge of oil prices demolished fiscal and external accounts causing government revenues to plunge to less than 8 percent of the GDP in 2015. In the coming months, oil prices that remain relatively low will continue to penalize growth as monetary and fiscal policy tightens and public investment will contract. In turn, higher rates – such as the CBN’s recent rate hike to 14 percent, a 10-year high – will weigh on credit and consumption, dampening the non-oil economy. While Governor Godwin Emefiele expects rate hike to encourage savings and investment, inflation is running at 16.5 percent as the cost of food and gasoline is surging, which renders CBN’s rates negative in real terms. The future of oil is now intertwined with the future of security. Nigeria must tackle not just Boko Haram, but Al Qaeda. Nigerian jihadists were first financed by Osama bin Laden already in 2003, while its members were trained in Sahel in 2006 alongside al-Qaeda with which it now shares regional and international links. As a result, Nigeria’s northeast is suffering from a huge humanitarian crisis as more than half a million people are in urgent need of food, shelter and medical care. Security is also compromised in the oil-rich southeast, thanks to the Niger Delta Avengers. In turn, longstanding grievances are exemplified by the reborn Biafra independence movement, which waged war against the central government from 1967 to 1970. These pressures toward regional fragmentation call for harsh security responses in the near-term but smart diplomatic cooperation in the medium-term. Nevertheless, the battle to contain terror and separatism will keep defense spending rising, which is likely to detract from investment that should be focused on Nigeria’s economic development. Critics blame President Buhari’s economic policies. Yet, the current government does not shoulder responsibility for the secular challenges that have piled up in the past 15 years during the terms of President Goodluck Jonathan (2010-2015), Umaru Musa Yar’Adua (2007-2010) and Olusegun Obasanjo (1999-2007). Like other struggling energy exporters that now suffer from excessive reliance on oil and gas, Nigeria did not diversify its industrial structure in time when the oil prices were still booming. Despite the rhetoric of competitiveness, entrepreneurship, rule of law and strong defense, the governments were too complacent, neglected small and medium-size enterprises that are the key to inclusive growth, benefited from corruption and ignored security challenges. Instead, nation’s public assets were stashed by crony capitalism, often with tacit acquiescence by international interests. In terms of GDP per capita, as adjusted to inflation, Nigeria ranks 123rd in the world. Yet, between 2004 and 2013, it was among the top-10 developing countries that suffered the greatest illicit financial flows; about $18 billion, according to Global Financial Integrity. Consequently, Nigeria faces now huge downside risks, which have been grossly underestimated by international multilateral organizations, including the IMF whose downside risk projections have been far too optimistic. Today, these organizations are cutting growth forecasts, but inadequately. Nigeria is a textbook case. In its report on Nigerian economy last March, the IMF still projected Nigeria’s 2016 GDP growth at 2.3 percent. In July – only four months later – the projection was cut to -1.8 percent. Moderate decimal revisions are typical to quarterly revisions. However, deviations of more than 4 percentage points reflect inexcusable gross negligence. Internationally, the U.S. Fed’s rate hike delays have ensured a timeout for emerging economies. Conversely, a faster-than-anticipated Fed exit would mean further capital outflows, shrinking asset prices and deeper devaluation in Nigeria. In these dire circumstances, the Buhari administration has no alternative but to push bold and aggressive initiatives. Recently, the African Development Bank approved $56 billion to scale up industrialization in Nigeria and other countries in the coming decade. In the medium-term, industrialization must have the key role as the catalyst of Nigerian development and job-creation. To succeed, it should be coupled with complementary enablers, including policy support, favorable business environment, access to capital and markets and competitive entrepreneurship. In these efforts, Nigeria’s cooperation with China, as reflected by Minister Udoma’s recent visit in Beijing, has potential to provide substantial project financing at low interest rates. These accelerated efforts to develop Nigerian infrastructure were initiated by President Buhari’s state visit to China last April. The key role belongs to Nigerian railway modernization projects that have potential to unify fragmented markets and to boost accelerated national development. Moreover, Buhari’s efforts to rehabilitate northeast and the proposed Export Processing Zones (EPZ) hope to attract Chinese investors and companies. In the coming months, the Buhari administration must protect fiscal sustainability by any means necessary, even as it must reduce external imbalances and reinforce the resiliency of the banking sector. Most importantly, it must force the execution of structural reforms for sustained and inclusive growth. As the global economic prospects will continue to deteriorate, the time to accelerate policy responses is now. The worst is still ahead. |