As the Dangote Refinery Commences Production, the National Patriotic Elders Forum has charged President Ahmad Bola Tinubu to in the spirit of amplifying the value of Naira sale Crude Oil to Dangote while in return he will also sell in Naira to Nigerians.
The Elders Forum who Commended President Tinubu for ensuring the commencement of Dangote Refinery Production, believes that if the Nigeria Government sells Crude to him in local Currency and in return, he sales to the Marketers in the same way, is just a matter of times Naira will regain it’s lost values.
Speaking through a release he issued to Newsmen, Thursday, in Kano, the National President of the Forum, Dr. Bature AbdulAziz, insisted that President Tinubu deserves commendation for making the Refinery become a reality, but he said, the Government needs to step up full cooperation with the Refinery helps Citizens.
“There should be a serious working cooperation and understanding between the Government and Dangote Refinery to one ensure that the prices of Petroleum when he fully Commences Production is reduced, secondly to curtail the hyper Foreign Currency rises and stabilize the Naira”.
He added, “I believe, when the Refinery takes full production all those Nigeria money that has been wasted in the name of importing Refined Petroleum will be channeled to other important sectors that will boost the living standards of Nigerians”.
Dr Bature AbdulAziz explained that the actualization of the Dangote Refinery Production shows that all the promises of President Tinubu will be achieved, “what he requires at this juncture is the patient and understanding of the Citizens”.
The Elders Forum, also urged President Tinubu to give much emphasis on agriculture, noting that in the whole of Nigeria’s 774 Local Government areas only about 20 do not have active Agricultural activities, as such with given the Sector government attention, it will drastically curtail some serious Insecurities at the local areas.
In the same vein, Dr Bature AbdulAziz said the Government needs to do more on the issue of Security because the problems across the nation are becoming something else.
He said, “Government, needs to devise a new strategy with given Intelligence networking more regards and attention, although we have seen President Tinubu serious efforts but more need to be done to safeguard the lives of Nigerians”, he appealed.
…to establish students complaint unit to address academic challenges
The Senior Special Assistant to the President on Students Engagement, Comrade Sunday Asefon, has said there was need for Nigeria to run a system where first-class graduates from tertairy institutions would be given automatic employment in institutions they graduated from, as well as in Ministries Departments and Agencies (MDAs) in the country.
Asefon who made this known at the unveiling of the Nigerian students’ flag and renewed hope programme agenda by his office on Thursday in Abuja, also advocated sponsorship of best graduating students in ICT and related courses, in partnership with both local and foreign Tech institutions
He said: “One of our hope agenda is the renewed hope academic excellence reward scheme. It entails a befitting celebration and rewarding prize for overall best graduates from every tertiary institutions vis-a-viz arrangements of automatic absorption into the academia by the school authority and other MDAs.”
The former National Association of Nigeria Students (NANS) president also gave assurances that the government was working assiduously towards kick-starting the students loan scheme which was strictly meant for indigent Nigerians, the
He said: “”I can assure you that the bottlenecks about the loan are things of the past and we will ensure the indigent Nigerian students get it once the portal is opened. There’s going to be transparency and the president is committed to make it happen.”
Reeling out some other activities his office was ready to engage in, he disclosed ongoing plans to establish students complaint unit inorder to enable Nigerian students have a platform where they can discuss their problems affecting their academic activities.
Asefon also disclosed that by March this year, his office would be unveiling the National Student Leaders Summit and the Renewed Hope Campus Ambassadors. Also to be unveiled in the year is the Diaspora Student Leaders Retreat, all geared towards renewing the hope of Nigerian students.
Other activities include; Nigerian students leaders’ regional dialogue, annual international students day celebration, annual all Nigerian tertiary institution students affairs conference, Local and foreign engagement of student bodies/inauguration of national students management committee,.identification and discussion of students challenges on campus, sensitization on student loan scheme, social investment and empowerment programme of the federal government.
Reacting to allegations that some universities were charging certain fees for students to undergo drug test, Asefon who said the idea of drug tests for students was a welcome idea, however condemned the alleged payment and vowed to ensure such was abruptly stopped if found out to be true
“On the issue of drug test, that will not stand. I will not say they should not conduct a drug test but such test should be free. If the idea is from NDLEA or the university I commend them but I condemn the idea of asking them to pay a fee.”
The National Identity Management Commission has temporarily suspended Front-End Partners from engaging in the National Identification Number enrolments.
This is because the commission is currently carrying out a revalidation exercise of these third-party registration centres.
The Director General, NIMC, Abisoye Coker-Odusote disclosed this while noting that NIMC has identified multiple infractions and unwholesome practices in the processes of National Identity Number enrolment and modification.
Coker-Odusote revealed this at the opening of a four-day training for the first batch of newly revalidated Front End Partners in Abuja.
While assuring participants that revalidation is aimed at improving the enrolment process and addressing outstanding debts owed to the Front-End Partners, the DG stated that many infractions have been reported, with a significant number attributed Front-End Partners.
Front-end partners provide enrolment services nationwide. She said, “My decision to direct the revalidation of all FEPs was not targeted at anyone or group. It was a step towards sanitizing the system and processes while ensuring the integrity of data in the country’s identity database. It was also one of the steps towards proper auditing of the claims made by some of our FEPs.
“Please be advised that the revalidation exercise is being implemented in phases. This is just the first and not the last. Let me use this medium to remind you all that NIN enrolment is free of charge in Nigeria. My administration has zero tolerance for corruption. We shall therefore not spare anyone found perpetrating corrupt practices or any other form of infractions.”
The DG further explained that the revalidation exercise was part of steps towards ensuring compliance with the highest standards of data security among the FEPs.
She noted, “Don’t forget that I inherited huge debts owed FEPs for over two years. Some of the invoices and claims were questionable, requiring proper auditing. The rot in the process and system left me with no option but to take deliberate steps toward sanitising the enrollment process.
“And to this end, I directed that NIN enrolment activities at all FEP centres be suspended temporarily, pending the outcome of a revalidation exercise.”
In October, NIMC announced the revalidation of its third-party agent licenses. At the time, the commission stated that the process was mandatory for all current partners and was intended to ensure compliance with the latest standards and protocols.
Commenting on the issue of kidnapping in the country, NIMC disclosed that it is working with the Nigerian Communications Commission and security agencies to ensure the use of NIN and SIM databases to track down kidnappers and victims of kidnapping.
The DG of NIMC, Coker-Odusote, stated this at a stakeholder engagement with the Nigeria Identification for Development Project in Abuja.
The DG who spoke through her technical assistant, Ayobami Abiola, said, “NIMC is working very closely with the security agencies to ensure that we can use the NIN in a way which helps to secure the country.
“There have been previous engagements and directives requiring people to use the NIN to register their SIM cards. However, people have been able to circumvent that and this has been to the detriment of using this information for security purposes. However, NIMC is working very closely to plug all of these holes and there will be a solution soon.
“The President has expressed worry over our fragmented identity system which is causing the country huge losses in expenditure and has given us marching orders to ensure we integrate and unify our identity system.
“The goal is to remove all current challenges and difficulties that people face in enrolling for IDs, fostering a robust, seamless, and more inclusive enrolment system where ID is provided for everyone, and no one is left behind.”
The former Minister of Communication and Digital Economy, Isa Pantami, recently disclosed that the security agencies were not using the NIN-SIM policy to fight insecurity in the country.
There was a heated gunfire exchange, on Thursday, as the police rescued Segun Akinyemi, an Abuja resident, who was kidnapped just as he was driving out of his house.
The kidnappers were taking Akinyemi from Abuja to Kano State when the police swooped on them, according to Police Public Relations Officer in Kaduna, ASP Mansir Hassan.
He said on January 18, 2024, operatives attached to Kawo Divisional Headquarters, Kaduna, received a distress call of a kidnapping incident from Abuja.
He said they were alerted that the culprits and their victim were transiting through Kaduna.
“The Operatives, at about 0010 hours, blocked a grey Toyota Hilux van with registration number Abuja RBC 90 DC, carrying four passengers, the driver inclusive, suspected to be the vehicle conveying the kidnappers and their victim.”
“On sensing danger and in an effort to escape, one of the kidnappers fired at the Policemen, and they responded accordingly. In the resulting gun duel, the victim, a certain Segun Akinyemi of block 10, flat 2 FCDA quarters Area 3 Garki, Abuja, was rescued, and one of the kidnappers, a 28-year-old Chinaza Philip of Life Camp Abuja, was arrested,” he said.
The police said the three other suspects who escaped are being trailed, adding that the vehicle belonging to the victim, two Retay G17 model pistols, one Beretta pistol, ten 9mm P.A.K ammunitions, and five 9mm special ammunitions were recovered from the kidnappers.
He said preliminary inquiries revealed that the victim was abducted on January 17, 2024, by the kidnappers just when he was leaving his home situated at the aforementioned address.
He said the three escaped suspects were; Chidibere Nwodibo of Life Camp, Abuja, one Auwal surname unknown, and the gang leader whose identity is yet to be ascertained.
The kidnappers were transporting their victim to Kano before they were intercepted by the Police.
The Commissioner of Police Kaduna State Command, CP A.D Ali, while commending the Operatives for the brave feat, still tasked them to continuously go after criminal elements in the State.
He called on the members of the public to avail themselves of security agencies’ hotlines for any distress call requiring a prompt response.
The House of Representatives Public Accounts Committee, on Thursday, directed the Federal Ministry of Industry, Trade and Investments to refund N75bn allocated to it as COVID-19 intervention funds.
This was as the committee also ordered the Ministry of Health to return the N10bn released to it to produce COVID-19 vaccine.
The resolution was sequel to a motion moved by Bassey Akiba, a member of the Labour Party from Cross River State, following the non-appearance of officials of the ministry at its investigative hearing on Thursday.
The committee, in a recent advertorial, invited 59 ministries, departments and agencies to appear before it for the commencement of an investigative hearing on the alleged mismanagement of COVID-19 funds.
Originally slated for Wednesday, January 17, the House shifted it to Thursday in order to commiserate with the government and people of Oyo State over Tuesday’s explosion which rocked the state capital, Ibadan.
At the commencement of the sitting at the National Assembly, Akiba moved the motion to compel the ministry to refund the funds appropriated to it.
The committee adopted the motion after it was seconded and directed that the ministry refund the said funds to the coffers of the Federal Government.
In his earlier remark, the chairman of the committee, Bamidele Salam (PDP, Osun State), lamented that despite the series of invitations extended to the ministry, its officials failed to show up.
Salam said, “The Federal Ministry of Trade, Industries and Investments got the sum of N75bn as COVID-19 intervention funds. The Public Account Committee has sent invitations to the Ministry of Trade, Industries and Investments three times, and none of the invitations was honoured.
“The federal ministry of trade was to make their appearance yesterday (Wednesday). That was the last opportunity given to them and there was no such appearance. N75bn was appropriated to them.
“The former Permanent Secretary and the current Permanent Secretary are affected by this motion to refund the sum of N75bn to the Federal Government as COVID-19 intervention funds which as far as we are concerned, has not been expended.”
The committee also mandated the Federal Ministry of Health to return N10bn meant for the production of COVID-19 vaccines, but which was not spent, to the Federal Government.
Unlike the trade ministry, the Ministry of Health sent a representative, the Permanent Secretary, Daju Kachallom, who informed the committee that the funds were domiciled with the Office of the Accountant General of the Federation.
The committee, however, directed that the money should be returned, stressing that the ministry might choose to reapply to the National Assembly for the money if it was still needed.
In a related development, the committee also directed the Director General of the Rural Electrification Agency, Salihijo Ahmed, to submit documents detailing the utilisation of the agency’s COVID-19 intervention funds.
The DG appeared before the committee at the investigative hearing and requested more time to submit relevant documents.
The committee told the agency to submit the documents on Friday before the close of work and reappear before it on Monday at 10 am.
The federal government has ordered that the headquarters of the Federal Airports Authority of Nigeria (FAAN) be moved from Abuja to Lagos State.
This was disclosed in a memo dated 15th of January 2024, which was seen by newsmen on Thursday.
The memo issued by the Managing Director of FAAN, Mrs Olubunmi Kuku, disclosed that the relocation is based on the directive of the Minister of Aviation and Aerospace Development, Festus Keyamo.
The memo read: ”The Honourable Minister of Aviation and Aerospace Development has directed that the Headquarters of the Federal Airport Authority of Nigeria (FAAN) should be relocated from Abuja to Lagos.
”Consequent upon the above, you are requested to provide the implication of the relocation to the management.”
CBN Decongests Head Office, Moves Departments To Lagos
The Central Bank of Nigeria (CBN) is set to decongest its head office in Abuja and transfer some of its departments to Lagos State.
Naija News reports that the apex bank made this known in an Internal memo seen on Saturday.
The apex bank stated that the move is meant to increase the productivity of the affected staff while also cutting costs and ensuring their safety.
It further said the decongestion would also improve the apex bank’s operational and workflow efficiency.
Some departments that were affected by the transfer included the Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department and Financial Policy Regulations Department.
[NaijaNews]
Bandits have displaced 10 communities in Kidandan area under Giwa Local Government Area (LGA) of Kaduna State.
Giwa is one of the LGAs that has been badly hit in the ongoing wave of insecurity in the North West.
Daily Trust gathered some of the residents forced to relocate to Kidandan main town and other safer communities in the LGA.
The affected villages include Tunburktu Hayin Dabino, Mugaba, Nasarawan Hayin Doka, Dokan Yuna, Doka, and Hayin Teacher.
Councilor Representing Kidandan Ward, Abdullahi Ismail, confirmed the incident, lamenting that in the last three weeks, troops have been conducting operations around the area but still the bandits continue to terrorize some communities.
Another community leader, who preferred to remain anonymous, said villagers displaced left behind their foodstuffs and houses due to constant bandits intimidation and harassment.
He also disclosed that soldiers operating in the area killed about six of the bandits on Tuesday.
He explained that although residents were happy with the killing of the bandits, they were hesitant to celebrate openly.
He urged the government t to deploy more security agencies to protect other villages from being displaced.
ASP Mansir Hassan, Police Public Relations Officer in Kaduna, was not available for comment as of the time of filing this report.
Billionaire investor Femi Otedola is reportedly acquiring shares in Dangote Cement, according to sources with knowledge of the matter.
Dangote Cement is among the SWOOT (Stocks Worth Over One Trillion) with a current market capitalization of around N7.7 trillion.
Other members of SWOOT include MTN, Airtel, Seplat, BUA Foods, BUA Cement, Zenith Bank, GTB, UBA, First Bank, Geregu Power, and recently Transcorp Hotel. Dangote Cement has the largest market capitalization.
The stock opened at N350 this week and has so far gained 29%, as demand continues to rise. However, the stock gained 3.8% on Thursday with about 1.8 million shares traded. The company has approximately 16.8 billion shares outstanding.
This year alone, the stock has seen a remarkable gain of 48%, opening at N317 per share and currently trading at N470 per share.
Otedola acquiring shares
Sources who shared the scoop with Nairametrics reveal the billionaire is one of the major forces behind the trades and has been acquiring the stock.
It is however unclear how many shares he has acquired so far and whether he plans to hold a significant stake in Nigeria’s largest company by market capitalization.
- Femi Otedola, renowned for his mercurial stock-picking prowess, is recognized by Nairametrics as one of the major drivers of the stock market’s bull run in 2023.
- His early 2023 foray into Transcorp Group shares sparked a rally that catapulted the stock into the top 5 performing stocks of the year.
- The stock has risen from just under N2 per share to N19 per share. It is believed that Otedola exited the stock at multiples of his entry price. He had also acquired a significant stake that required that he communicate to the Exchange.
- He also acquired shares in First Bank Plc when the stock was trading below N5 in 2022, rising to become the officially declared majority shareholder of the bank. The stock also recently hit the trillion market cap milestone and trades at around N30 per share.
N10 trillion market cap: Sources also suggest that the billionaire could be betting on Dangote Cement to possibly become the first Nigerian stock worth N10 trillion in market capitalization, a feat that could take the company’s share price to around N1,000 per share.
Africa and Nigeria’s richest man, Aliko Dangote owns an unassailable stake in the company with over 85% ownership of the stock.
- Dangote Cement currently trades at a high price-to-earnings multiple of 17.4x based on its trailing 12 months’ earnings.
- According to Nairametrics’ valuation metrics, the company’s earnings per share have been growing at a compounded annual growth rate of 21%.
- Yet, in the stock market, market sentiments often drive up share prices ahead of fundamentals, as investors continue to invest billions of naira in equities.
Dangote Cement reported earnings per share of N16.2 in the first 9 months of 2023, compared to N12.5 in the same period in 2022.
[Nairametrics]
There was a heated gunfire exchange, on Thursday, as the police rescued Segun Akinyemi, an Abuja resident, who was kidnapped just as he was driving out of his house.
The kidnappers were taking Akinyemi from Abuja to Kano State when the police swooped on them, according to Police Public Relations Officer in Kaduna, ASP Mansir Hassan.
He said on January 18, 2024, operatives attached to Kawo Divisional Headquarters, Kaduna, received a distress call of a kidnapping incident from Abuja.
He said they were alerted that the culprits and their victim were transiting through Kaduna.
“The Operatives, at about 0010 hours, blocked a grey Toyota Hilux van with registration number Abuja RBC 90 DC, carrying four passengers, the driver inclusive, suspected to be the vehicle conveying the kidnappers and their victim.”
“On sensing danger and in an effort to escape, one of the kidnappers fired at the Policemen, and they responded accordingly. In the resulting gun duel, the victim, a certain Segun Akinyemi of block 10, flat 2 FCDA quarters Area 3 Garki, Abuja, was rescued, and one of the kidnappers, a 28-year-old Chinaza Philip of Life Camp Abuja, was arrested,” he said.
The police said the three other suspects who escaped are being trailed, adding that the vehicle belonging to the victim, two Retay G17 model pistols, one Beretta pistol, ten 9mm P.A.K ammunitions, and five 9mm special ammunitions were recovered from the kidnappers.
He said preliminary inquiries revealed that the victim was abducted on January 17, 2024, by the kidnappers just when he was leaving his home situated at the aforementioned address.
He said the three escaped suspects were; Chidibere Nwodibo of Life Camp, Abuja, one Auwal surname unknown, and the gang leader whose identity is yet to be ascertained.
The kidnappers were transporting their victim to Kano before they were intercepted by the Police.
The Commissioner of Police Kaduna State Command, CP A.D Ali, while commending the Operatives for the brave feat, still tasked them to continuously go after criminal elements in the State.
He called on the members of the public to avail themselves of security agencies’ hotlines for any distress call requiring a prompt response.
[DailyTrust]
In compliance with the provisions of the Constitution on time bound nature of political cases, the Supreme Court will on Friday, January 19, 2024, deliver final judgements in 13 gubernatorial election legal battles.
Hearing and final judgments in the cases are by law to be considered and concluded within 60 days after which the matters would become statute barred.
The states whose governorship election legal battles will be decided by the Supreme Court on Friday include Nasarawa, Delta, Ogun, Gombe and Kebbi, among others.
Governors of the states will know their fate – whether they will remain in office or not – at the end of the make or mar verdicts that would be handed down on Friday morning.
Political parties that filed cases along with their governorship candidates are the All Progressives Congress, APC, Peoples Democratic Party, PDP, New Nigeria Peoples Party, NNPP, Labour Party, LP, and Social Democratic Party, SDP.
Our correspondent observed that in Delta State, Gbagi Kenneth Omemavwa of the Social Democratic Party, SDP, Omo-Agege Ovie Augustine of the All Progressives Congress, APC, and Pella Kwahariebie Kennedy of the Labour Party, LP, are challenging the election of Governor Sheriff Oborevwori.
The cause list sighted by our correspondent also showed that Emmanuel David Ombugadu of the PDP is challenging the declaration of Sule Audu Abdullahi of the APC as the elected Governor of Nasarawa State.
In Ogun State, Adebutu Oladipupo Olatunde of the PDP is praying the apex court to upturn the victory of Abiodun Adedapo Oluseun of the APC as the lawfully elected governor of the state.
For Gombe State, Jibrin Muhammed Barde of the PDP is the appellant seeking to get the election of Mohammed Inuwa Yahaya invalidated.
Similarly, Bande Aminu of the PDP is asking the apex court to set aside the declaration of Idris Nasir of the APC and his Deputy, Abubakar Umar Argungu, as winners of the March 18, 2023 governorship election.
Deputy Director of Press and Information of the Supreme Court, Malam Alfa Ahmed, confirmed that 13 judgments on disputes over governorship elections would be delivered on Friday.
He said that the apex court has put adequate security arrangements in place to make the judgment delivery hitch-free.
Ahmed confirmed further that counsel who represented different governors during the hearing of the cases are to come to court with only two lawyers from each chamber.
He hinted that only accredited political party leaders would be permitted into the court premises to ensure crowd control and prevent security breaches.
According to him, Department of State Service, DSS, operatives would be responsible for screening those that would access the courtroom.
He further disclosed that journalists accredited by the Supreme Court would be allowed into the courtroom and foyer of the court, depending on the number of seats allocated to them.
[DailyPost]
More...
The Chairman of Christian Association of Nigeria( CAN), Kaduna State Chapter, Rev Joseph John Hayab, has said that it would only be wrong to pay ransom if the government would secure the people.
The cleric’s response was a statement the Minister of Defence, Badaru Abubakar, made that it was an offence to pay ransom for the release of kidnapped victims.
Speaking to journalists in Hausa, the Minister alleged that it was the publicity given to the donation gathered to pay ransom for the release of Abuja kidnapped victims that emboldened the terrorists to demand more.
However, Hayab told Vanguard Correspondent in Kaduna that it was sad that on many occasions, “we have reported kidnapped incidences to security agencies, but they will advise us to continue to dialogue with the bandits, and we keep doing this with no help coming from the security men.”
According to him, “Those who speak against payment of bandits are saying so because they do not have first-hand experience. When their family member, wife, children, parents, or close associate is a victim, they will understand the pressure those paying ransom do go through.”
“No one enjoys paying any dime to bandits, but the failure of the government and our security forces to stop this criminality from tormenting and terrorising the people is the reason why victims and their families have no option but to pay for their freedom.”
“The psychological trauma both primary and secondary victims go through is not what you will want your enemy to experience. Victims of banditry go through painful torture, humiliation, abuse, and all forms of inhumane treatment.”
“Our leaders should first provide a good reaction to stop this evil that citizens are going through before coming out to make an unguarded statement that gives the impression that they do not care how people feel.”
DAVOS, Switzerland (AP) — The Latest on the World Economic Forum gathering in Davos, Switzerland:
Colombia President Gustavo Petro described U.S.-led efforts to fight drug trafficking as “an absolute failure” during a panel with Latin American political leaders at the World Economic Forum gathering.
Speaking Wednesday in Davos, Switzerland, Petro called for strategies to reduce consumption that focus on education, prevention and treatment for those with addiction.
He says that “thousands of people, most of them Black, have gone to prison in the United States, and up to a million have died in Latin America.”
He added that “if we cannot have a debate on the United States failed drug policy, we will have serious problems.”
Petro’s administration is trying to make peace deals with rebel groups within Colombia and other criminal organizations involved in the drug trade.
He said global changes in drug policy will be required to pacify Colombia as well as policies that bring economic development to isolated regions within the South American nation, where many people make a living from the drug trade.
KEY DEVELOPMENTS:
— Zelenskyy urges West to speed up flow of weapons to Ukraine
— Putin foe Bill Browder slams jacked-up fee to attend Davos
— World Food Program postpones, not averts Somali famine
— Elon Musk apparently wasn’t on the Davos guest list
Former British Prime Minister Boris Johnson has received an honorary “Citizen of Kyiv” medal from Mayor Vitali Klitschko on the sidelines of the World Economic Forum annual meeting in Davos, Switzerland.
Johnson has been hailed as a hero by many Ukrainians for his and Britain’s support for their country after Russian President Vladimir Putin ordered forces to invade Ukraine nearly a year ago.
At the Ukraine House on Wednesday, Klitschko said Johnson is “one of us” before draping the medal around the former British leader’s neck.
Johnson said he’d received an invitation to visit Kyiv — a “beautiful, beautiful city” — from Klitschko and traveled there while Britain’s foreign minister.
“I realized then that if Putin was ever so mad as to invade Ukraine, that Ukrainians would fight and that they would win. And that is what is going to happen,” Johnson said to a cheering crowd.
He added that the only thing that allies “have got to do now is to continue our support for Ukraine with tanks, with planes, with whatever it takes, with financial resources until Ukraine wins.”
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Bill Browder, a leading critic of Russian President Vladimir Putin, has criticized the World Economic Forum on social media for jacking up his entrance fee to the annual meeting in Davos that he has attended for the last 27 years.
Browder told The Associated Press on Wednesday that it was wasteful to pay a quarter of a million dollars for a ticket and he thought organizers of the elite gathering in the Swiss Alps didn’t want him around.
The former fund manager says he has set aside his commercial activities and devotes all of his time to getting justice for his former lawyer Sergei Magnitsky, who was killed in Russian police custody in 2009, and other victims of human rights abuses.
Forum spokesman Yann Zopf says Browder had participated previously as CEO of Hermitage Capital Management and that he was “very welcome to re-engage with the Forum’s work.”
Zopf said told the AP that “partnerships with businesses contribute to our ability to invite activists and civil society figures who tend to have considerably less resources.”
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NATO Secretary-General Jens Stoltenberg says Ukraine’s Western backers this week will discuss ways to supply heavier and more advanced weapons to help it fight Russia.
The so-called Ukraine Contact Group will gather at Ramstein Air Base in Germany on Thursday and Friday. It consists of about 50 top defense officials, including U.S. Defense Secretary Lloyd Austin, who work to coordinate military contributions to Ukraine.
Stoltenberg said Wednesday during a session at the World Economic Forum gathering in Davos, Switzerland, that “the main message there will be: more support, more advanced support, heavier weapons and more modern weapons.”
He says, “This is a fight for our values, this is a fight for democracy and we just have to prove that democracy wins over tyranny and oppression.”
NATO’s leader says supplying Ukraine with more equipment long term will help force Russian President Vladimir Putin to the negotiating table.
Stoltenberg warned that “it is very dangerous to underestimate Russia” and said “weapons — they are the way to peace” but must come quickly.
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Ukrainian President Volodymyr Zelenskyy says Western supplies of weapons must outpace Russia’s attacks and urged the world to move faster in its decision-making because “tragedies are outpacing life; the tyranny is outpacing democracy.”
In a video address Wednesday to the World Economic Forum gathering in Davos, Switzerland, Zelenskyy stood and asked for a moment of silence for victims of a helicopter crash in Ukraine, who included his interior minister.
While a cause is not yet known, he said that “every individual, every death is a result of war.”
He says that the world needs to react quicker to challenges like global security, climate change and hunger, saying there’s a “time crisis.” He says that Russia started the war, and the world needed days to react with the first sanctions, with “the time the free world uses to think is used by the terrorist state to kill.”
He said the world must not hesitate: “The supplying of Ukraine with air defense systems must outpace Russia’s vast missile attacks. The supplies of Western tanks must outpace another invasion of Russian tanks.”
Asked about engaging with Russia, Zelenskyy said “they will have to recognize their own mistakes, they will have to recognize Ukrainian statutes and they will have to really respect our territorial integrity.”
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German Chancellor Olaf Scholz highlighted his country’s and others’ financial and military support to Ukraine and said that “we will continue to support Ukraine — for as long as necessary.”
In a speech Wednesday to the World Economic Forum gathering in Davos, Switzerland, he pointed to efforts by Berlin and others to kick off a long-term rebuilding process for Ukraine but said that “in order for the war to end, Russia’s aggression must fail.”
He listed some of the equipment Germany has pledged to provide — including air-defense systems and most recently armored personnel carriers, “marking a profound turning point in German foreign and security policy.”
But he didn’t make any new pledges. Germany faces mounting pressure to supply Leopard 2 battle tanks or at least to authorize allies to deliver their own stocks of the German-made vehicles.
When asked about sending tanks to Ukraine, Scholz reiterated that Germany was one of the top suppliers of military equipment to the war-torn country, just behind the U.S. and Britain.
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France’s junior minister for European Affairs says Europe has lost competitiveness versus the U.S. due to sharply higher energy costs and U.S. support for domestic renewables.
Laurence Boone said Wednesday at the World Economic Forum gathering in Davos, Switzerland, that Europe needs a “big bang” to catch up in moving to renewable and secure energy supplies. She added that the bloc needs “to be a lot more radical and proactive in response to this challenge.”
Boone said on a panel about European energy that higher prices after Russia shut off most natural gas over the war in Ukraine, along with the Inflation Reduction Act, were “a wake-up call” for the European Union.
She said the IRA could have an effect in just two or three months because it works through tax credits, while European measures can take years to go through.
European industries that use a lot of energy — such as makers of glass, steel and fertilizer — are facing costs that make production unprofitable in some cases and are raising the possibility that such producers will move to places where energy is more affordable such as the U.S. and China.
Boone said a Europe-wide approach was needed instead of financially stronger countries handing out state aid because the continent’s economy was so interconnected.
She says that “it’s not enough to increase state aid in one country if we don’t do it for everyone, otherwise we will have disruption of supply chains.”
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Young climate activists including Greta Thunberg and Vanessa Nakate will discuss speeding up the energy transition with the head of the International Energy Agency at the World Economic Forum gathering in Davos, Switzerland.
The Paris-based IEA says Executive Director Fatih Birol and the young activists will discuss Thursday whether governments and businesses are responding adequately to the climate crisis, the state of the clean energy transition, widespread calls to end new investments in fossil fuels, and what needs to be done to limit global warming to 1.5 degrees Celsius.
It comes after Thunberg and other protesters were carried awa y Tuesday from the edge of an open coal pit mine in western Germany where they demonstrated against the destruction of a village to make way for the mine’s expansion.
The German government reached a deal with energy company RWE last year allowing it to destroy the village in return for ending coal use by 2030, rather than 2038. Environmentalists say bulldozing Luetzerath will result in vast greenhouse gas emissions.
Thunberg told The Associated Press on Saturday that in the global fight against climate change, “what everyone does matters.”
The Swedish activist added that “and if one of the largest polluters, like Germany, and one of the biggest historical emitters of CO2 is doing something like this, then of course it affects more or less everyone — especially those most bearing the brunt of the climate crisis.”
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German Chancellor Olaf Scholz is celebrating his country’s newfound independence from Russian energy sources and says its energy supply for this winter is secure.
In a speech Wednesday to the World Economic Forum gathering in Davos, Switzerland, Scholz noted that Germany has opened its first two liquefied gas terminals within months and a third is close to completion. He said that shows “Germany can be flexible, we can be unbureaucratic, and we can be fast.”
Russia, which once supplied more than half of Germany’s natural gas, hasn’t delivered any since the end of August. Scholz said that “within a few months, Germany made itself completely independent from Russian gas, Russian oil and Russian coal.”
Scholz says “our energy supply for this winter is secure — thanks to well-filled storage facilities, thanks to improved energy efficiency, thanks to remarkable solidarity within Europe, and thanks to the readiness of our companies and of millions of citizens to save energy.”
The German leader also defended Berlin’s program of to 200 billion euros ($216 billion) in subsidies to ease the strain of high gas, electricity and heating prices, which has met with some concern elsewhere in Europe.
He said it “is both forceful and proportionate.”
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Former U.S. Vice President Al Gore has slammed the influence of oil and gas interests at the annual U.N. climate conference.
In impassioned remarks at the World Economic Forum gathering in Davos, Switzerland, Gore called for the COP climate talks to make supermajority decisions rather than requiring unanimous agreement as oil-rich states frustrate the process.
Gore said Wednesday during a session on climate action leadership that “we cannot let the oil companies and gas companies and petrostates tell us what is permissible. In the last COP, we were not allowed to even discuss scaling down oil and gas.”
He expressed concerns of the “appearance of the conflict of interest” of having the head of oil company Abu Dhabi National Oil Co. — Sultan al-Jaber — as the next COP president.
Gore asked: “Are we going to be able to discuss scaling down oil and gas in the next COP or (are we) putting the oil industry in charge of the COP?”
He asserted that “we’ve just decided to not even disguise” fossil fuel presence at COP anymore.
Gore added that fossil fuel industries were also responsible for stifling pro-climate legislation in the U.S. and elsewhere. But he noted some instances of positive climate action around the world in the last year, including the U.S. Inflation Reduction Act and elections in Brazil and Australia that ushered in governments with stronger climate ambitions.
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Ukrainian first lady Olena Zelenska says in many areas of the war-torn country, people are only getting a few hours of electricity a day and those near the front are completely cut off from energy infrastructure.
She said Wednesday at the World Economic Forum gathering in Davos, Switzerland, that her foundation is working to provide warmth and light to people who are often living in half-destroyed homes in areas occupied by Russian forces.
Russian missiles have targeted energy systems for months, and Zelenska also says “our enemy has been destroying our health care infrastructure.”
She says the foundation is working to rebuild medical facilities and provide laptops to teachers, with two-thirds of Ukraine’s children studying remotely as schools face shelling.
After a helicopter crash in Ukraine killed the country’s interior minister and several others, Zelenska said she didn’t “have the strength to express my emotions right now.”
When asked about whether there is global fatigue in supporting Ukraine nearly a year into the war, she said that “seems like an exaggeration.”
She added: “Imagine what this day will be like when the Ukrainians are fatigued. I wouldn’t want to see it. I don’t think it would be good for Ukraine or the world.”
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The head of the United Nations isn’t optimistic that Russia’s war in Ukraine could end soon.
U.N. Secretary-General Antonio Guterres said Wednesday at the World Economic Forum gathering in Davos, Switzerland, that “I do not see the end of the war in the immediate future.”
He pointed to deep historical differences between Russia and Ukraine that will make it more difficult to find a solution based on international law and that respects territorial integrity.
Guterres added that “I don’t think that we have a chance to promote or to mediate a serious negotiation to achieve peace in the short term.”
In the meantime, he said private-sector cooperation is needed to keep Ukrainian and Russian food and fertilizer exports flowing.
Both countries are major suppliers of wheat, barley and other food to developing nations where many people are struggling with hunger. A U.N.-brokered deal allows agricultural supplies — Russia is also a top global exporter of fertilizer — to leave the Black Sea region.
Guterres says the insurance sector has helped support the movement of vessels from Ukraine and Russia, and “we need other private sector’s actors to engage, such as the banking sector, the traders and the shippers.”
Some companies fear running afoul of Western sanctions by facilitating shipments from Russia, though allies have said penalties don’t apply to food and fertilizer.
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The Dutch environment minister says the Netherlands wants “to sell 2 million electric cars by 2030 — from 2030 onwards only electric cars allowed.”
Vivianne Heijnen spoke Wednesday during a panel session about “the electric decade” at the World Economic Forum gathering in Davos, Switzerland.
The forum says that by 2030, clean power capacity must increase by three times what it is today and by nine times by 2050. The organization also has found that energy consumption must be increasingly based on electricity and should increase to 50% by 2050 from 20% now.
Heijnen says the Netherlands has one charging station for every four cars. She says “we are thinking of smart solutions” to “some challenges when it comes to the entire power system.”
Talking about the challenges to achieving these clean energy and electrification goals, Jakob Stausholm, CEO of mining corporation Rio Tinto Plc said, “It’s not that easy to get green energy at scale. We are fooling ourselves on the timeline — it is going to take time.”
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The head of the United Nations says the world is in a “sorry state” because of myriad “interlinked” challenges including climate change and Russia’s war in Ukraine.
U.N. Secretary-General Antonio Guterres said Wednesday at the World Economic Forum gathering in Davos, Switzerland, that the struggles are “piling up like cars in a chain reaction crash.”
Guterres said the widest levels of geopolitical division and mistrust in generations are undermining efforts to tackle global problems, which also include widening inequality, a cost-of-living crisis sparked by soaring inflation and an energy crunch, lingering effects of the COVID-19 pandemic and more.
He singled out climate change as an “existential challenge,” saying a global commitment to limit the Earth’s temperature rise to 1.5 degrees Celsius “is nearly going up in smoke.”
Guterres referenced a recent study that found scientists at Exxon Mobil made remarkably accurate predictions about the effects of climate change as far back as the 1970s, even as the company publicly doubted that warming was real.
He said, “Some in Big Oil peddled the big lie.”
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Japan’s minister of trade and industry says the world’s third-largest economy needs more innovation and younger leadership.
Minister of Economy Trade and Industry Yasutoshi Nishimura said, “Japan’s economy has long been run by a bunch of old men.”
Speaking in a panel Wednesday at the World Economic Forum’s gathering in Davos, Switzerland, he said, “We need to change this drastically, because we need diverse ideas to bring about innovation in the new era. You shouldn’t make decisions with only old men who have spent a long time in the same company.”
Despite trade tensions between Beijing and Washington and other trading partners, Nishimura said it’s unrealistic to cut off economic ties with China, so “a complete decoupling is not possible, but we need to manage the risks and cooperate with like-minded nations.”
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Ukrainian first lady Olena Zelenska dabbed teary eyes before attending a World Economic Forum session in Davos, Switzerland, as she heard the news that a helicopter carrying Ukraine’s interior minister and other officials crashed in Ukraine.
Forum President Borge Brende requested 15 seconds of silence Wednesday to honor the 18 people killed in the crash, including Ukrainian Interior Minister Denys Monastyrskyi and other officials, before the opening the session.
Zelenska said it was “another very sad day today. New losses.”
She told those attending the session: “I think you understand my emotions. Perhaps they’re a little bit out of place in the political and economic dialogue, but I am sure that just as the war has changed the whole world, it has also changed all of our dialogue. We can also change this negative situation for the better.”
Her husband, President Volodymyr Zelenskyy, is scheduled to speak via video later in the day as the Ukrainian delegation pushes for more weapons from international allies.
Speaking shortly before Zelenskyy is German Chancellor Olaf Scholz, who is facing pressure to send tanks to Ukraine.
[AP]
Davos day three: Hunt says West must talk to China over AI; Red Sea disruption hitting global trade growth, WTO warns – as it happened
AdminHunt: global AI standards must reflect liberal democratic values.
Jeremy Hunt tells Davos that Western goverments must talk to China about artificial intelligence, and that it is very important that global AI standards reflect liberal democratic values.
He says:
When it comes to setting global AI standards, it’s very important that they reflect liberal democratic values.
But, I think it is really important that we talk to countries like China.
Hunt points out that Sam Altman, alongside him on today’s panel, has a sign in his OpenAI office that says ‘no-one knows the future’.
But, Hunt says, “we do have agency over the future”, and that is why there is tension between the two (AI developers, and policymakers).
Hunt says we are “incredibly lucky” that people like Sam Altman are helping to transform humanity’s prospects for the future.

No-on in the room here in Davos today thinks the world would be better without AI, Hunt argues. “But we have choices”.
Hunt says:
The choice we need to make is how to harness it, so it is a force for good.
I actually think that means talking to countries like China.
One of the ways it would be a force for bad is if it just becmae a tool in a new geo-strategic superpower race, with much of the energy put into weapons rather than things that could transform our daily lives.
One way to avoid that is to have discussions with countries like China over common ground, Hunt says.
He adds that the benefits of AI should be spread throughout the world, and not just concentrated in advance economies.
Hunt says previous technological revolutions, such as the industrial revolution and computer revolution, succeeded where the benefits were spread evenly across society, not concentrated in small groups.
He adds:
Otherwise that will deepen some of the fractures that are already, in my view, taking us in the wrong direction.
[Reuters]