Stakeholders recommend state of emergency in power sector
Innocent ObasiDecember 15, 2022
By Innocent Obasi Stakeholders in Nigeria’s power sector have called on the incoming administration in 2023 to declare a state of emergency in the country’s power sector in order to bring a lasting solution to the lingering crisis of inadequate power supply. This recommendation was made at the 13th edition of PwC’s Annual Power & […]
Nigeria, Rwanda become first African countries to sign Artemis Accords
Innocent ObasiDecember 15, 2022
By Innocent Obasi Nigeria and Rwanda have become the first African signatories to the Artemis Accords which was one of the fallout of the US-Africa Leaders’ Summit held in Washington DC. Isa Ali Ibrahim, Nigeria’s Minister of Communications and Digital Economy, who signed the agreements on behalf of Nigeria while Francis Ngabo, […]
Airlines to pay $222bn extra for fuel in 2022 – IATA
Innocent ObasiDecember 13, 2022
By Innocent Obasi The International Air Transport Association (IATA) has said that airlines are spending additional $222 billion on fuel. This was disclosed by Kamil Alawadhi, regional vice president for Africa and the Middle East at IATA, while speaking at the African airlines association general assembly in 2022 on Monday. Alawadhi said that despite the oil […]
AfDB, OECD, unveil policy toolbox for sustainable low-carbon transition in Africa
Innocent ObasiDecember 13, 2022
By Innocent Obasi The African Development Bank (AfDB) and the Organisation for Economic Co-operation and Development (OECD) have unveiled a new policy toolbox to enhance a low-carbon transition in Africa. The two institutions, in a report titled “Equitable Framework and Finance for Extractive-based Countries in Transition (EFFECT)” said the toolbox provides policymakers options for charting […]
Nigeria proposes 5 climate-related goals for COP 28
Innocent ObasiDecember 12, 2022
By Innocent Obasi Nigeria has proposed five goals that should be achieved by COP 28, which is anticipated to take place in Dubai, United Arab Emirates, from November to December 2023. Yemi Osinbajo, Nigeria’s vice president, made the proposal while delivering a speech at a meeting on the African Carbon Markets Initiative (ACMI) at the […]
Africa’s carbon markets to play critical role in implementation of energy transition plan, says Osinbajo
Innocent ObasiDecember 12, 2022
By Innocent Obasi Yemi Osinbajo, Nigeria’s vice president, has said the Africa Carbon Market Initiative (ACMI) will be essential to the success of the Energy Transition Plan in mobilising the capital required to move to Africa’s net-zero economy-wide trajectory. Osinbajo said this while delivering his keynote speech at the Rockefeller Foundation meeting held recently in […]
Nigeria receives first set of morbid power transformers from Siemens
Innocent ObasiDecember 9, 2022
By Innocent Obasi Nigeria has received the first set of morbid power transformers in the €63 million deal with Siemens aimed to stablise power supply across the country. This was disclosed by Abubakar Aliyu, the minister of Power, while speaking at the 5th National Council on Power (NACOP) in Abuja. […]
Mo Ibrahim faults COP27’s impact on Africa’s vulnerability to climate change
Innocent ObasiDecember 8, 2022
By Innocent Obasi Mo Ibrahim, the founder and chairman of the Mo Ibrahim Foundation (MIF), has noted that the recently held United Nations Climate Change Conference (COP27), did not achieve the desired impact on Africa’s specific vulnerability to the impact of climate change. Sharing his views on the conference, Ibrahim said; “We mustn’t delude ourselves […]
NERC highlights conditions for purchasing transformers, meters, other assets
Innocent ObasiDecember 8, 2022
By Innocent Obasi The National Electricity Regulatory Commission (NERC) has brought to fore the conditions under which electricity consumers may purchase transformers, meters, poles or any other assets for Electricity Distribution Companies (DisCos). Aisha Mahmud, NERC’s Commissioner of Consumer Affairs, who disclosed this while speaking at the 3-day NERC/Abuja Electricity Distribution Company (AEDC) customer complaint […]
Nigeria’s oil output rises to 1.59 million bpd, says NUIMS
Innocent ObasiDecember 7, 2022
By Innocent Obasi The NNPC Upstream Investment Management Services (NUIMS) has disclosed that Nigeria’s oil production has risen to 1.59 million barrels per day. Bala Wunti, the chief upstream investment officer of NUIMS, stated this while speaking at the ongoing 11th Practical Nigerian Content forum in Uyo, the state capital of Akwa-Ibom state. Wunti said […]