The World Bank has advised the Federal Government that to reap the benefits of the bold reforms and difficult but necessary economic adjustments currently being implemented by it, it is essential for it to sustain and fully implement the reforms and take complementary actions. The development finance institution in its December 2023 edition of the […]
The United Nations Industrial Development Organization (UNIDO) has expressed its interest to partner the National Agency for Science and Engineering Infrastructure (NASENI) to reduce energy poverty through the domestication of renewable energy solutions and to fast-track industrial development in Nigeria. The Deputy Head, UNIDO Nigeria Office, Mr. Adekunle Olusile, who led a delegation on a […]
….Targets N298.4Bn Revenue The Bureau of Public Enterprises (BPE) on Tuesday hinted of its intention to sell remaining 40% shares of the Federal Government in electricity distribution companies (DisCos) and offer for listing other enterprises on the capital market in 2024. The Director-General of the Bureau Mr Alex Okoh, who made this disclosure this […]
The Federal Government has hinted of its plans to unbundle the Transmission Company of Nigeria (TCN) as part of its sustained reform efforts in the power sector to boost electricity supply nationwide. The disclosure, which was made a day after the collapse of the power grid for the second time this year, indicated that the […]
The Transmission Company of Nigeria (TCN) says that currently it has installed capacity to transmit 8,100mw of the about 13,000mw of electricity being generated nationwide. The company’s General Manager for Port Harcourt Region, Dr Thomas Inugonum, who gave this hint on Sunday in the Rivers State capital explained that the company was supposed to be […]
Italy has made a new commitment of €5 million to Africa’s sustainable energy future through the Sustainable Energy Fund for Africa (SEFA) Special Fund. A news report from African Press Organisation (APO) Group circulated on behalf of African Development Bank Group (AfDB) quoted the Italian Deputy Minister of Environment and Energy Security, Vannia Gava, as announcing […]
The Nigerian National Petroleum Company Limited (NNPCL) has signed two gas deals covering a floating liquefied natural gas deal and a small-scale LNG deal at the ongoing COP28 in Dubai, United Arab Emirate (UAE) According to the company, the deals were both for Domestic, and International Markets. There is an Agreement on 421 Tonnes Per […]
Ukrainian President, Volodymyr Zelensky, has called off a high-profile briefing with US lawmakers amid an impasse over future US funding for the country. Already, virtual appearances in the Senate and House had been scheduled for Tuesday, but were cancelled at the last moment after a top Ukrainian official warned they were in danger of losing […]
The Africa Finance Corporation (AFC), the leading infrastructure solutions provider on the continent, has announced its signing of a US$350 million long-term line of credit with the African Development Bank (AfDB) to urgently provide the needed financing for infrastructure projects to underpin sustainable development and economic growth in the continent. The agreement, which was signed […]
The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has assured Nigerians that the 2024 budget would be the “people’s budget” that will address the economic hardships faced by Nigerians. Abbas, who gave this assurance on Monday at the town hall meeting on the budget organised by the Green Chamber of the National Assembly, […]