The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued letters of award to 42 companies/entities that were successful in the bid for 49 Flare Sites enlisted during the 2022 Nigerian Gas Flare Commercialisation Programme (NGFCP) Auction process. The petroleum regulatory body confirmed the issuance of the letters of award via a press statement issued on […]
The International Energy Agency (IEA) has charged global leaders on the need to address emissions from gas supplies, in spite of natural gas increasing roles in rapidly growing world’s energy markets. The Executive Director of the global organization, Fatih Birol, gave this charge during the July 18 LNG Producer-Consumer Conference which held in Tokyo, Japan. […]
Despite intensive and sustained investment in the renewable energy by world leaders and commitment by international organizations to green projects, global appetite for fossil fuel is still growing. The latest annual ‘Statistical Review of World Energy Record’ showed that increases in solar and wind installations in 2022 failed to reduce the 82% share of fossil […]
The International Monetary Fund (IMF) has announced a new $41 billion under its Resilience and Sustainability Trust (RST) to support developing countries in their current drives towards mitigating climate threats through green projects. The IMF Managing Director, Kristalina Georgieva, made this disclosure during one of her presentations at the New Global Financial Pact Summit in […]
…..analysts forecast $382bn spending on solar in 2023 The International Energy Agency (IEA) has predicted that investment in clean energy will extend its lead over spending on fossil fuels this year, with solar projects expected to surpass funding commitments on oil production for the first time. The Paris-based energy industry watchdog made this projection […]
The Nigeria Sovereign Investment Authority (NSIA), the manager of Nigeria’s sovereign wealth fund and the National Council on Climate Change (NCCC), signed a Memorandum of Understanding (MoU) in furtherance of the collective efforts to mitigate climate change impacts on the country. The MoU, which was signed by the NSIA’s Managing Director/CEO, Mr. Aminu Umar-Sadiq, and […]
The World Economic Forum has canvassed the need for countries globally, particularly the developing ones to improve public sector involvement in climate change mitigation in order to achieve growth. The Forum, in its just published ‘May 2023 Chief Economist Outlook’, highlighted the need for developing economies to drive progress on major national and global challenges, […]
The African Development Bank (AfDB) has signed a €362,000 grant agreement with Hadejia Jama’are Komadugu Yobe Basin-Trust Fund to prepare additional studies under the second phase of developing a strategic plan for managing water resources in the Komadugu-Yobe Basin in Northern Nigeria. Specifically, the grant will support the preparation of a Resettlement Action Plan (RAP) […]
The African Development Bank’s (AfDB’s) representatives today opened high-level talks with governments, heads of business and development partners to explore ways to channel more investment into Africa’s water and sanitation infrastructure, as well as to discuss necessary policy reforms. The bank joined leading global stakeholders in calling for universal water security for Africans during the […]
The African Development Bank (AfDB) has launched an AUD 50 million 15-year Kangaroo Green Bond due March 2038 as part of its sustained initiatives towards the implementation of its Green Bond Framework aimed at supporting Africa countries’ transition to green growth. The new issuance, which is the bank’s sophomore green bond in the Australian dollar […]