GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...

GOV. SANWO-OLU COMMISSIONS ELECTRIFICATION PROJECTS IN BADAGRY BORDER COMMUNITIES. (PHOTOS). #PRESS RELEASE.


 SANWO-OLU COMMISSIONS ELECTRIFICATION PROJECTS IN BADAGRY BORDER COMMUNITIES


…says state strategically positioned to regulate, expand electricity supply


Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, today commissioned electrification projects in the Badagry axis, saying that investments in such projects will be a lasting benefit to the people.


The projects being commissioned include three HC Tower Crossings, the newly rehabilitated 33KV distribution lines along the Gaji-Seme, Owode-Apa corridors, and the connection of fifty-one transformer substations. These represent a deliberate intervention by the state government to address the longstanding electricity challenges in the axis.


Speaking at the event, the Governor, who was represented by the Deputy Governor, Dr. Kadri Obafemi Hamzat, stated that the government is not merely commissioning power infrastructure, but restoring confidence, unlocking opportunities, and bringing lasting relief to communities that have long awaited improved electricity supply in the area.


Sanwo-Olu added that the intervention aligns strongly with the THEMES+ Development Agenda of the current administration, particularly the commitment to expanding energy access and building resilient infrastructure that supports economic growth across every part of Lagos State.


“This intervention aligns strongly with our THEMES+ Development Agenda, particularly our commitment to expanding energy access and building resilient infrastructure that supports economic growth across every part of Lagos State, and with the recent inauguration of the Board of the Lagos State Electricity Regulatory Commission, Lagos is positioning itself to regulate and expand electricity supply more effectively, ensuring that infrastructure investments such as this deliver lasting benefits to our people,” he said.


The Governor noted that beyond providing electricity, the project represents an opportunity for traders to extend their business hours, artisans and small manufacturers to increase productivity, schools and healthcare facilities to function more effectively, and families to enjoy a better quality of life.


“With the recent inauguration of the Board of the Lagos State Electricity Regulatory Commission, Lagos is positioning itself to regulate and expand electricity supply more effectively, ensuring that infrastructure investments such as this deliver lasting benefits to our people.”


These electrification projects being commissioned will significantly strengthen power distribution across the Gbaji–Seme and Owode–Apa corridor, enabling thousands of homes, shops, and businesses to benefit from improved and more stable electricity supply, while boarder communities such as Badagry must benefit from sustained investment in infrastructure that supports trade, productivity, and community wellbeing,” he said.


The Governor stressed that Badagry is not only a historic town of immense cultural significance; it is also one of the most important gateways into the State and country. As a border corridor connecting Nigeria to the Republic of Benin and the wider West African region, Badagry holds tremendous economic potential for trade, commerce, and cross-border enterprise.


He therefore congratulated the residents of Gbaji, Seme, Owode, Apa, and surrounding communities, as well as the entire people of Badagry, describing the project as one that truly belongs to them, and urged them to take collective ownership of the infrastructure by protecting it from vandalism and ensuring that it continues to serve their communities for many years to come.


In his goodwill message, the Chairman, Lagos State House of Assembly Committee on Energy and Mineral Resources, Hon. Sabur Akanbi Oluwa, described the infrastructure as a clear testament to the visionary leadership of the Lagos State Government in advancing sustainable infrastructure and expanding access to reliable electricity for communities across the state.


Oluwa noted that the restoration and strengthening of power infrastructure within the community would stimulate economic activities, enhance security, and significantly improve the standard of living of residents.


Earlier in his Welcome Address, the Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, noted that commissioning of power projects is a response to the power challenges facing the community for many years, explaining that the power infrastructure will improve electricity access, strengthen distribution capacity, and enhance the quality of life for residents and businesses in the community.


Also speaking is the Special Adviser to the Governor on Mineral Resources, Engr. Abiola Olowu noted that the milestone reflects the unwavering commitment of the Lagos State Government to the provision of critical power infrastructure aimed at improving the well-being of the people while supporting sustainable socio-economic development across the local government area and the state at large.

More photos below. 



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