Tuesday, August 9, 2022

ENERGY

Africa needs annual investment of $40bn on energy for electricity – AfDB

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The African Development Bank (AfDB) says Africa needs an annual investment of 32 to 40 billion dollars along the energy value chain to achieve universal access for electricity by 2030. The AfDB’s African Economic Outlook 2022 unveiled at the Bank’s...

Epileptic grid: SERAP gives President Buhari 7 days to probe missing $26.467billion electricity fund

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By Paul Adaji (ABUJA) - Socio-Economic Rights and Accountability Project (SERAP) has urged Nigerian President, Muhammadu Buhari, to “direct the Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, and appropriate anti-corruption agencies to promptly and thoroughly investigate...

A Review of Nigeria’s Power Sector in 2021

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Access to electricity, no doubt, is a catalyst for any nation in its drive for industrialisation.  The importance of power to socio-economic development, creating myriad of opportunities for Micro, Small and Medium Enterprises (MSMEs) to thrive, cannot be overemphasised. For a...

Nigerian Government approves $1.9bn to boost power supply from 5,000 to 7,000 megawatts

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Nigeria's Federal Executive Council (FEC) today approved 1.9 billion dollars for the procurement of equipment for the nation’s power sector to boost power supply across the country, through the Presidential Power Initiative. Minister of Finance, Budget and National Planning, Zainab...

Nigeria rejects single pathway to energy transition

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Minister of State for Petroleum Resources, Chief Timipre Sylva, claims Nigeria would not embrace any notion that advocates a single pathway to energy transition. Sylva made the remarks at the Seplat Energy Summit in Abuja, which focused on "Global Trends...

$5.792bn Mambila Power Projects: Nigerian Senate receives Financial Committee report

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The Senate Committee on Local Content on Monday, received the report of the Financial Sub-Committee of the Mambila Hydro-Electric Power Projects (HEPP). The Chairman of the Committee, Sen. Teslim Folarin, received the report in Abuja as presented by Mr Muhammad...

Shell renews commitment to R & D in Nigeria

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Energy giant, Shell, has said its research and development strategy is aligned with Nigeria’s 10-year strategic roadmap for local content being implemented by the Nigerian Content Development and Monitoring Board (NCDMB). Managing Director of the deep-water business of Shell in...

Ethiopia and Djibouti to launch second power link

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After seeing the benefits of the first project that connected their power grids, Djibouti and Ethiopia have acquired funding to establish a second electricity transmission line. Djibouti was able to acquire Ethiopian hydropower-processed, renewable, and affordable electricity through the first...

Nigeria awaits Chinese lending for key gas pipeline

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Nigeria is seeking $1 billion so that work on a $2.8 billion gas pipeline can resume, according to three sources close to the situation. Chinese lenders who had pledged to provide the majority of the funds did not disburse...

Congo set to unveil Gas Master Plan at African Energy Week 2021

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Congo Democratic Republic is to unveil the country's comprehensive Gas Master Plan (GMP) during the highly anticipated African Energy Week (AEW) 2021  taking place in Cape Town on the 9th12th of November.According the Ministry of Hydrocarbons, the plan, which...

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