Saudi Minister of Finance stresses energy diversification
Minister of Finance Mohammed Aljadaan emphasised that energy security is not a luxury but a fundamental pillar for achieving development and comprehensive growth. He noted that the absence of reliable energy access hampers progress across vital sectors such as healthcare, education, economic productivity, environmental sustainability, water extraction, and food security.
Aljadaan made these remarks during his speech at the Opec Fund for International Development Forum, held in Vienna, Austria, reported SPA.
He extended his appreciation to the Opec Fund for organising the forum, which highlights the critical role of economic reforms in strengthening national resilience, addressing financial and economic challenges, and achieving sustainable and inclusive development.
The minister underscored that economic reforms aimed at achieving prosperity and tackling development challenges must prioritise securing basic needs, chief among them access to energy.
He pointed out that energy poverty affects 1.2 billion people worldwide, with repercussions that transcend borders, including economic instability, rising migration pressures, and growing humanitarian burdens.
Aljadaan affirmed that Saudi Arabia is committed to working collaboratively with the international community to enhance global energy security and eliminate energy poverty while simultaneously advancing efforts to combat climate change. He reiterated the Kingdom's ambitious target of generating 50% of its electricity from renewable sources by 2030 and achieving net-zero emissions by 2060, in alignment with the circular carbon economy framework.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
2 hours ago
- Zawya
Talal H. AlMarri appointed as CEO of Expo 2030 Riyadh Company
Riyadh Saudi Arabia: Expo 2030 Riyadh Company (ERC) has announced the appointment of Talal H. AlMarri as Chief Executive Officer (CEO). ERC, a wholly owned Public Investment Fund (PIF) company, responsible for the development and operations of Expo 2030 Riyadh. As CEO of ERC, AlMarri will spearhead the company's delivery of Expo 2030 Riyadh— one of the most anticipated global events of the decade. Expo 2030 Riyadh will serve as a platform for global collaboration, bringing together nations to address humanity's most pressing challenges through innovation and technology. Additionally, the event will act as a catalyst for economic growth, creating new opportunities for Saudi Arabia and the wider global community. Across his career, AlMarri has a proven track record in stakeholder engagement and operational excellence. At Aramco, he held various leadership roles, including President and CEO of Aramco Europe, Senior Vice President of Community services and Senior Vice President of Industrial Services. As President and CEO of Aramco Europe, he led initiatives to increase digital transformation efforts and managed European investments. He held postings in London and Seoul during his tenure. With his extensive experience in spearheading large-scale initiatives and driving innovation, AlMarri will play a pivotal role in steering the company's efforts to ensure that Expo 2030 Riyadh becomes a landmark event and will play a key role in showcasing Saudi Arabia's ambitions and progress, in alignment with Vision 2030. The establishment of ERC aligns with PIF's strategic mandate to achieve economic impact for Saudi Arabia while securing sustainable returns. PIF leads the development of transformative landmark real estate initiatives across Saudi Arabia, which drive economic transformation and diversification, advancing urban innovation and enhancing quality of life. ERC will benefit from PIF's diverse local and global ecosystem.
Arabian Business
2 hours ago
- Arabian Business
Top Arab universities 2026 revealed: Education institutions in Saudi Arabia, UAE, Qatar and Oman climb QS rankings
The best universities in the world have been named in a prestigious academic ranking, with a Saudi institution taking the top spot in the Arab region. QS Quacquarelli Symonds released its highly respected rankings of global universities on Thursday and institutions in Saudi Arabia, UAE, Oman and around the Arab world saw progress. In global rankings, the Massachusetts Institute of Technology (MIT) retained the top position for the 14th consecutive year, followed by Imperial College London and Stanford University. Best Arab universities revealed Meanwhile, Saudi Arabia's King Fahd University of Petroleum and Minerals (KFUPM) was ranked as the best Arab university and achieved a new global milestone by entering the list of the world's top 100 universities, ranking 67th. This advancement is a direct result of the university's strategic transformation launched in 2020, during which it climbed from 200th to 67th place in just five years. The new QS rankings evaluated more than 8,467 universities from across 106 locations and the 2026 QS World University Rankings featured 107 universities from the Arab Region—25 more than last year. King Fahd University of Petroleum and Minerals (KFUPM) leads the Arab region, rising to 67th globally—the first Arab institution ever to enter the top 100. Qatar University climbs to 112th, and King Saud University advances to 143rd, reinforcing the region's growing influence on the global higher education stage. The QS methodology evaluates universities based on key indicators, including academic reputation (assessed through expert surveys on teaching and research quality), employer reputation (measuring graduate employability), and faculty-to-student ratios (reflecting educational quality). Research impact is gauged through citation metrics, while international faculty and student ratios demonstrate institutional diversity and global appeal. Additional metrics encompass sustainability performance, contributions to the UN Sustainable Development Goals (SDGs), graduate employment outcomes, and international research collaboration networks. Top Arab Institutions in QS World University Rankings 2026 KFUPM in Saudi Arabia is now ranked 67 in the world Qatar University in Qatar is now ranked 112 in the world King Saud University in Saudi Arabia is now ranked 143 in the world King Abdul Aziz University in Saudi Arabia is now ranked 163 in the world Khalifa University in UAE is now ranked 177 in the world United Arab Emirates University in UAE is now ranked 229 in the world American University of Beirut in Lebanon is now ranked 237 in the world Hamad Bin Khalifa University in Qatar is now ranked 244 in the world American University of Sharjah in UAE is now ranked 272 in the world University of Jordan in Jordan is now ranked 324 in the world University of Sharjah in UAE is now ranked 328 in the world Sultan Qaboos University in Oman is now ranked 334 in the world Cairo University in Egypt is now ranked 337 in the world The American University in Cairo in Egypt is now ranked 381 in the world Abu Dhabi University in UAE is now ranked 391 in the world In total, 42 percent of ranked Arab universities improved their position, 32 per cent remained stable, and 26 percent declined. Eleven institutions appear in the rankings for the first time—six from Jordan, five from Iraq, and three each from Lebanon and Oman. Saudi Arabia adds two new entrants, and Palestine sees one institution ranked for the first time. The UAE sees seven of its 12 universities rise in rank, with Khalifa University entering the top 200. Egypt added five new entries, while Cairo University climbed to 347th. Jordan and Iraq are among the top contributors of new ranked universities worldwide. Ben Sowter, QS Senior Vice President, said:'Only nine countries added five or more universities to the rankings this year—and three of them are in the Arab region. This reflects a rapidly evolving ecosystem.' Governments in the region are increasingly linking higher education performance to national goals. Saudi Arabia aims for five universities in the top 200 by 2030. The UAE aligns rankings with its Higher Education Strategy 2030, and Egypt incorporates education as a central element of its Vision 2030. As global competition intensifies QS underscores the importance of international visibility, research collaboration, and graduate outcomes for maintaining momentum. King Fahd University of Petroleum and Minerals is now listed as the first ever Arab university to enter the global top 100. Last year, the university ranked 101st, underscoring the remarkable progress made in just one year. University President Dr. Muhammad Al Saggaf noted that KFUPM's entry into the global top 100 reflects the university's bold vision and the tremendous support it receives from the Kingdom's leadership. He described this as a pivotal moment in the university's journey toward global prominence, with even greater aspirations ahead. KFUPM's comprehensive transformation has spanned across academic, research, and administrative domains. Nearly 100 new programs have been launched, including innovative undergraduate and graduate offerings. The university also introduced the region's first entrepreneurship program, granting students and researchers full ownership of their startups—a move that reflects a modern, innovation-driven academic culture focused on economic empowerment. Khalifa University of Science and Technology is the highest ranked university in the UAE, jumping 25 places to be ranked 177th globally. For eight consecutive years, Khalifa University has remained the top institution in the UAE, reinforcing its status as a national leader in higher education and research. In the 2026 edition, the university leads across several key indicators, including 11th in the world for 'International Faculty,' top in the UAE for 'Citations per Faculty' and 'Faculty Student Ratio', affirming its leadership in attracting global talent and producing high-impact scientific research. Professor Ebrahim Al Hajri, President, Khalifa University, said: 'As global academic and research landscape evolves, our consistent climb to reach the top 200 in the 2026 QS World University Rankings reinforces Khalifa University's status as a driving force in science and technology, particularly among researchers and students seeking world-class opportunities closer to home. The 177th rank remains a testament to our faculty and students whose work continues to make a positive impact, while highlighting our global growing presence. Through our diverse academic community and our expanding international and regional industry collaborations, we are consistently contributing to meeting UAE's ambitions in knowledge economy leadership.' The 2026 QS World University Rankings recognised five Omani higher education institutions, including Sultan Qaboos University, University of Nizwa, Dhofar University, Sohar University, and the German University of Technology in Oman (GUtech). Sultan Qaboos University achieved significant progress, climbing 28 spots to secure the 334th position globally. This performance reflects the steady advancement of Oman's academic and research infrastructure, as reported by Quacquarelli Symonds (QS), the UK-based global higher education analyst, on its official 2026 rankings website. QS World University Rankings 2026 Massachusetts Institute of Technology (MIT), United States Imperial College London, United Kingdom Stanford University, United States University of Oxford, United Kingdom Harvard University, United States University of Cambridge, United Kingdom ETH Zurich (Swiss Federal Institute of Technology), Switzerland National University of Singapore (NUS), Singapore UCL (University College London), United Kingdom California Institute of Technology (Caltech), United States
Zawya
2 hours ago
- Zawya
Nigeria: How Gov Ododo is leveraging multilateral partnership to transform road infrastructure?
In a bold move to bridge the gaps in Kogi State's road infrastructure and position it as a model of sustainable development, Governor Ahmed Usman Ododo has embarked on an ambitious strategy of leveraging multilateral partnerships to revitalize rural access, enhance connectivity, reverse environmental degradation, and boost agricultural productivity anchored on local content. While the state government is currently working on over 400 kilometers of township roads, including roads in Omala, Idah, Bassa in Kogi East, Mopamuro, Egbe, Ijumu in Kogi West and Okene, Okehi, and Adavi in Kogi Central, there are currently over 200 kilometres of rural roads connecting about 50 communities across most of the agricultural belts in several local government areas in the state, largely enabled by multilateral partnerships and strategic interventions. Central to this vision of innovative multilateral partnerships is the Agro-Climatic Resilience in Semi-Arid Landscape (ACReSAL), with its unprecedented erosion control projects at Etahi in Okene, Olubiojo in Ankpa, and Omigbo in Kabba, representing Kogi Central, East, and Western Senatorial zones, respectively, worth 29.9 Billion Naira. Equally pivotal is the Rural Access and Agricultural Marketing Project (RAAMP), which has already initiated construction of over 200 kilometres of rural access roads across the state. These initiatives, implemented in collaboration with multilateral organisations such as the World Bank, African Development Bank (AfDB), and the Federal Government of Nigeria, among other donor agencies, are closely aligned with Governor Ododo's campaign promises anchored on a commitment of not only transforming Kogi's physical landscape but at the same time breathing new life into its economy by boosting agricultural output and creating jobs. RAAMP, an initiative by the World Bank, and the Federal Ministry of Agriculture and Food Security, has emerged as a cornerstone of the administration's strategy to link rural and agricultural production communities with markets and essential services. In October 2024, Governor Ododo flagged off the construction of 65 kilometres of rural access roads connecting major agro-producing communities in Lokoja, Adavi and Okehi local government areas. Speaking during the flag-off ceremony at Apata, near Obajana, Governor Ododo emphasized that: 'These rural roads are not just transport links, they are lifelines that connect our traders, farmers, and communities, fostering economic growth and food security. By improving access, we are empowering farmers to compete in regional and national markets, thereby boosting incomes and reducing poverty.' The governor maintained that strategic connections to be enhanced by the project marked the beginning of a broader rural road network aimed at enhancing connectivity, lowering transportation costs for farmers, and improving access to markets. True to the governor's manifesto, which pledged to explore innovative financing models such as public-private partnerships for roads and other public infrastructure, the RAAMP initiative is a textbook example, blending international donor support with state-driven priorities to address critical infrastructure gaps in the state. While RAAMP tackles the rural connectivity challenge, ACReSAL focuses on another pressing concern: environmental degradation and the threat it poses to agricultural sustainability and peoples' wellbeing. In Etahi, Olubiojo, and Omigbo, years of unchecked seasonal erosion have carved deep gullies, devastating farmlands, and displacing communities. In response, the ongoing ACReSAL environmental remediation projects funded by its partners like the World Bank and implemented in partnership with the Federal Ministry of Environment aim to restore these landscapes through bioengineering and climate-resilient techniques. Governor Ododo harped on the significance of these projects when he noted: 'We are not only building roads and bridges; we are building trust, inclusion, and ownership by ensuring our people benefit directly from the process.' He further stated that the projects are not merely technical interventions but people-centered solutions designed for long-term impacts, as he stressed during the recent project inspection tour in Kogi Central, emphasizing that the administration has evolved a statewide scope of interventions. 'What we are doing in Kogi Central is also taking place in Kogi East and Kogi West. Our project monitoring teams are also conducting inspections in other parts of the state. We will continue to monitor, evaluate, and complete projects that matter to the people,' he said. A testament to all-inclusiveness in the development of road infrastructure in the state is visible in the several rural road projects by RAAMP including the 24.1KM Ilai-Ifeolukotun road in Yagba East local government; 19.55KM Aku-Uro-Obajana road, 6.59KM Osara-Atami road, 6.83KM Elubi-Etiaja-Ajakwu-Ulaja road in Dekina local government area, 4.13KM Odidoko-Ugbamaka-Ubojo-Oloyo-Emakpe road in Olamaboro local government area, 16.03KM Eganyi-FFN road in Ajaokuta local government area, 1.33KM EMMCO-Umuaga road in Okene local government area, 2.41KM Aku-UrukuOdoba road in Adavi local government area and the 18.95KM Ibado Akpacha-Ojiaji-Ogudu road in Omala local government area. These projects are serving as engines of economic empowerment, inclusion, and promoting local content in project delivery. Current data reveals that over 5,000 skilled and semi-skilled youths are employed across the state, from road construction sites in Obajana, Omala, and Aku to erosion control sites in Ankpa, Okene, and Kabba-Bunu. As Benjamin Oguche, a mason working on one of the ACReSAL project sites in Ankpa, shared:'I am working on the gully erosion control sites. They (the construction firm) taught us how to lay asphalt and use machinery. Now I can get similar jobs anywhere in the country.' The ripple effects are already apparent. In Etahi, ongoing construction of roads coupled with erosion control has revitalized community life almost overnight. In Olubiojo and Omigbo, ACReSAL's land restoration, now over 65% complete, has restored access to fertile lands previously lost to erosion, enabling a return to farming and food production. As these projects progress across the state, they herald a new era for Kogi. Upon completion, RAAMP's road networks will connect rural dwellers to schools, healthcare centres, and markets, while ACReSAL's restoration efforts, supported by over three billion Naira in community revolving loans as well as plans to plant trees for reforestation on 10,000 hectares of land in the state, will safeguard Kogi's agricultural productivity, the environment and the wellbeing of the people. Overall, Governor Ododo's administration is proving that strategic multilateral partnerships can turn campaign promises into tangible progress. By aligning international and national interventions with a clear, community-focused development agenda, he is not just bridging infrastructure gaps, he is building a new Kogi State where collective commitment to sustainability and shared prosperity become a reality for all.
