INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c
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SUBSIDY REMOVAL WILL REDUCE CARBON DIOXIDE EMISSIONS- SHETTIMA.(PHOTO)

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Subsidy Removal Will Reduce Carbon Dioxide Emissions - Shettima 

Vice President Kashim Shettima said on Tuesday that with the removal of fuel subsidy, Nigeria is projected to save over 15 million tonnes of carbon dioxide emissions in one year.

Shettima said this at the one-day workshop organised by the National Council on Climate Change with the theme “Unpacking the outcomes of the 58 sessions of the subsidiary bodies of the United Nations framework convention on climate change,” organised by the National Council on Climate Change.

Shettima, who was represented by his Deputy Chief of Staff, Senator Ibrahim Hassan, noted that Nigeria was on course to achieve the nationally-determined contribution targets.

“At the onset of this administration, President Bola Tinubu took the bold step to put an end to the petrol subsidy. Preliminary analysis conducted by the National Council on Climate Change on the co-benefits of fuel subsidy removal indicates that there has been about a 30 per cent reduction in daily fuel consumption, amounting to about 20 million litres, equivalent to an estimated daily saving of 42,800 tonnes of carbon dioxide emissions.

“When projected over one year, it amounts to over 15 million tonnes of CO2 saved, representing about 40 per cent greenhouse gas reduction from the baseline projection of 45 million metric tonnes of total GHG carbon dioxide equivalent by 2030. This places Nigeria on course to achieve our NDC targets ahead of time,” he said.

In his welcome address, the Director General of the NCCC, Dr Salisu Dahiru, said there was a need for Nigeria to prepare adequately for COP28 and other statutory meetings.

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