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EU-Seychelles strengthen collaboration on climate change.
The Ambassador of the European Union to the Republic of Seychelles undertook a site visit to La Digue in the context of the coastal flood adaptation and mitigation activities of the “Seychelles Global Climate Change Alliance project”. She met with local stakeholders on La Digue.
According to Marjaana SALL, Ambassador of the European Union to the Republic of Seychelles:
“Through this project, the European Union reiterates its commitment to support Government in the implementation of its National Climate Change Strategy, in line with commitments taken in COP 21 Conference. The EU is particularly pleased to assist local communities improve their resilience to the climate change and hence their livelihood.
By addressing the recurrent flood problems on La Digue this project is expected to impact directly on the health of the local population by reducing the incidence of water borne diseases. Secondly bearing in mind the negative impact of floods on local economic activities namely agriculture and tourism, the project is expected to sustain the economic livelihood of the local population. I am confident that this project will leave a footprint in the white sands of La Digue, that will constantly remind us of the close bonds uniting Seychelles with the European Union.”
According to Mr. Didier Dogley, the Minister of Environment Energy and Climate Change of the Republic of Seychelles:
“Climate change pose an existential threat to small islands communities like the one on La Digue. During the last 3 years the people of la Digue have suffered from extreme weather events, which have caused widespread flooding, disruption to livelihoods and posed a major health risk. At the same time the ground water aquifer which is the main source of potable water for the Diguois was also being threatened by the intrusion of salt water as coastal erosion continued unabated inland. Through targeted investments from the Government of Seychelles and financial support from the EU in the form of GCCA and GCCA+ we will be able to reduce the vulnerability of the local community and strengthen their resilience against the greatest threat of our time, climate change.”
The objective of the site visit is to meet with stakeholders on La Digue and discuss the project and its implementation. For the EU Ambassador, it is essential to ensure the participation and involvement of local communities for the success of this project….and it is this type of engagement that creates a compelling hope for a sustainable future. Local communities should be involved as much as possible to ensure that its results meet their expectations.
“Through targeted investments from the Government of Seychelles and financial support from the EU in the form of GCCA and GCCA+ we will be able to reduce the vulnerability”.
The programme “Seychelles Global Climate Change Alliance project” was established by the European Union in 2007 with a total envelope of 285 m EUR for the period 2008 to 2013. The objective is to support developing countries and small islands developing states in their endeavours to adapt to climate change. To-date the programme has supported more than 70 programmes in over 50 countries in Africa, Asia, Pacific and Caribbean and the Indian Ocean. In light of its success, the European Union has allocated an additional envelope of 350 m EUR for the programme for the period 2014-2020. In addition, another 70 m EUR are also available for climate actions from the European Union regional funds until 2020.
The programme for Seychelles was signed between the European Union and the Government of Seychelles in December 2014 to assist Government in developing its resistance to these changing climate patterns. The programme of 3 million euros is part of the European Union Global Climate Change Alliance (GCCA+) which aims at strengthening dialogue and cooperation with developing countries, in particular least developed countries (LDCs) and small island developing States (SIDS). The GCCA + is one of the most significant climate initiatives in the world.
A major component of the project concerns the implementation of coastal climate change adaptation in risk-prone areas on La Digue. These activities will be implemented by the UNDP (United National Development Programme), given their experience and expertise in the domain in Mahé and in La Digue. The project is expected to run until 2019.
Activities that will be implemented include the preparation of an Integrated Shoreline Management Plan, hydrological and topographic studies on flood buffering and salinization control measures. The activities will also focus on the restoration of wetlands, as a sustainable means to reduce flood risks.
Background :
The 2013 floods which hit La Digue and the damage caused by cyclone Fantala on Farquhar Island last year show to what extent Small Island Developing States like the Seychelles are vulnerable to changing climatic conditions. The security and livelihoods of local population are now increasingly threatened by sea rises, tsunamis, increases in temperature, flash floods, cyclones and droughts – all the consequences of climate change.
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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