Amni International Petroleum Development Company Limited, a Nigerian independent oil and gas exploration and production company, and the African Export–Import Bank (Afreximbank) have signed a Memorandum of Understanding (MoU) for the provision of a $600 million syndicated reserve based lending facility. The multi million US dollar deal was signed by Amni International’s Chief Tunde Afolabi […]
Power/Electricity
AEC, AfreximBank Seal Pact To Boost Africa’s Energy Industry Investments
The African Energy Chamber (AEC) and the African Export-Import Bank (Afreximbank) on Tuesday signed a Memorandum of Understanding (MoU) to enhance private sector investments across Africa’s oil and gas industry. The pact was sealed by the Executive Chairman of the AEC, NJ Ayuk, and President of Afreximbank, Prof. Benedict Oramah, during the first day of […]
Africa Requires $2.6Trn To Tackle Energy Poverty
A new report by PriceWaterhouseCoopers (PwC), a global accountancy and auditing consulting firm, has estimated that Africa will require about $2.6 trillion to drive energy transition and bridge its widening energy gap over the next 30 years. The firm, in its latest ‘Africa Energy Review 2022’, indicated that the continent was not likely to achieve […]
CPPE Canvasses 10-Point Agenda For Nigeria’s Sustainable Economic Growth
The Centre for Promotion of Private Enterprise (CPPE), one of Nigeria’s private sector advocacy groups championing the cause of policy-driven economic policies and initiatives, has canvassed a 10-point strategic agenda needed to strongly position the nation’s economy on the path of sustainable growth in the years ahead. The Centre, in a Note signed by its […]
FG Not Planning To Sell Transmission Company Of Nigeria – BPE
The Bureau of Public Enterprises (BPE), late Sunday restated its earlier position that the Federal Government had no plans to sell the Transmission Company of Nigeria (TCN). The privatization agency made this clarification in a statement which came some few weeks after it hinted of plans to revive ailing government owned enterprises. Reacting to news […]
DisCos Alert Public On Power Blackout As National Grid Collapses
Electricity distribution companies (DisCos) on Monday alerted electricity consumers in the country of power blackout in their franchise areas following the collapse of the national grid. The latest national grid collapse is about the eighth time the incident had been recorded in the country in the past few months. According to the notices by the […]
AfDB Approves $20Mn For Covid-19 Off-Grid Recovery Platform
The Board of Directors of the African Development Bank Group (AfDB) has approved a $20 million concessional investment to support the second phase of the Covid-19 Off-Grid Recovery Platform (CRP). The CRP is a blended finance initiative to unlock private capital for energy access companies to mitigate the negative impacts of the pandemic while advancing […]
Electricity Workers Urge FG To Take Over Privatized Firms
Miffed by the poor performance of the power sector 12 years after the privatization of the power companies, the National Union of Electricity Employees (NUEE), on Thursday urged the Federal Government to urgently reverse the privatization of the ailing power sector entities. The union particularly rued the low performance of the electricity distribution companies (DisCos) […]
Osinbajo Departs To U.S To Seek Support For Nigeria’s Energy Transition Plan
Nigeria’s Vice President, Prof. Yemi Osinbajo, on Wednesday departed Abuja for the United States (U.S) to seek global partnerships and support for Nigeria’s recently inaugurated Energy Transition Plan. The Senior Special Assistant to the President on Media and Publicity Office of the Vice President, Laolu Akande, gave this hint in a statement which indicated that […]
Nigeria Needs Over $410Bn To Implement Energy Transition Plan – Osinbajo
Nigeria’s Vice President, Prof. Yemi Osinbajo, has said that the Federal Government will need over $410 billion to successfully implement its Energy Transition Plan 2060, a roadmap to tackle the dual crises of energy poverty and climate change The Senior Special Assistant, Media & Publicity, to the Vice President, Laolu Akande, in a statement on […]