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, […]
President Bola Tinubu on Wednesday presented an Appropriation Bill of N27.5 trillion for fiscal 2024 to the National Assembly for passage. Presenting the proposed budget tagged “Budget of Renewed Hope” to the joint session of the National Assembly, the President explained that the key thrusts of the fiscal proposal were national defence, internal security, job […]
The Rural Electrification Agency (REA) has launched a control room centre located at its headquarters in Abuja to ensure effective monitoring of mini-grids power facilities that are note connected to the national electricity grid. The agency’s initiative aligns with the introduction of new Energy Management System (EMS) policy to effectively monitor smaller electricity systems called […]
The Nigeria Sovereign Investment Authority (NSIA), manager of Nigeria’s sovereign wealth fund, and Z Capital Group (ZCG), a leading private markets asset management firm, have signed a Memorandum of Understanding (MoU) on a joint venture partnership to establish a fund focused on infrastructure investments in Africa. The collaboration enables the parties to leverage the unique […]