Climate change impacting incomes, livelihoods of Africans, says EIB
BEN EGUZOZIEDecember 27, 2022
By Ben Eguzozie Environmental damage increases Continent must increase spending by billions to combat climate change Citizens want renewable energy investment prioritised With the world still far from meeting the objectives of the 26th edition of conference of parties (COP 26) of the UN climate conference, to limit global warming to 1.5°C on or before […]
OPEC’s president-in-waiting tells ‘Global North’ Africa won’t abandon oil production
BEN EGUZOZIEDecember 27, 2022
By Ben Eguzozie Said Western calls impugns socioeconomic sectors Continent’s to be biggest oil, gas supplier by 2035 Gabriel Mbaga Obiang Lima, incoming president for 2023 of global oil cartel, the Organisation of Petroleum Exporting Countries (OPEC) has scoffed at Western nations’ mounting pressure for Africa to shift immediately away from further production and use […]
Nigeria to sell five power firms to fund 2023 budget
Innocent ObasiDecember 23, 2022
By Innocent Obasi The Nigeria government has said five electricity-generation firms under the National Integrated Power Projects (NIPP) will be sold in the first quarter of 2023 to help fund next year’s budget. Alex Okoh, director-general of the Bureau of Public Enterprises, in an interview with newsmen in Abuja, said the government is likely to […]
ECOWAS agency moves to develop Nigeria’s power grid
Innocent ObasiDecember 21, 2022
By Innocent Obasi The West African Power Pool (WAPP), a special agency of ECOWAS, has said it will enhance the reliability of the Nigerian power grid with a 330KV transmission line from Nigeria to Benin to promote economic development. The project primarily consists in the construction and operation of about 130 kilometres of 330 kV […]
Renewvia signs long-term contract to supply UBA with clean energy
Cynthia EzekweDecember 21, 2022
By Cynthia Ezekwe Renewvia Energy,a United States-based global developer, owner and operator of clean energy infrastructure, and its local partner, Incremental Energy Solutions (IES) Limited, have signed a long-term power supply contract with United Bank for Africa (UBA) to supply the bank’s branches with clean energy generated from Renewvia’s microgrids. The agreement will see Renewvia […]
$293m out of $300m intervention fund disbursed to 61 oil companies, says NCDMB
Innocent ObasiDecember 20, 2022
By Innocent Obasi The Nigerian Content Development and Monitoring Board (NCDMB) said it has disbursed a total of $293.26 million out of $300 million Nigerian Content Intervention Fund (NCIF) to 61 companies in the oil and sector as at November 2022. The fund was created by NCDMB and managed by the Bank of Industry (BOI). […]
IPPG pledges sustained partnership with stakeholders to develop oil/gas industry
Innocent ObasiDecember 20, 2022
By Innocent Obasi The Independent Petroleum Producers Group (IPPG) has reiterated its commitment to maintain its partnership with relevant industry stakeholders to ensure the growth and development of the Nigerian oil and gas industry. Abdulrazaq Isa, the Chairman of IPPG, who stated this while speaking at the Group’s 2022 Annual Dinner which was held in […]
Wema Bank offers N1bn loan to provide renewable energy for SMEs
Cynthia EzekweDecember 20, 2022
Cynthia Ezekwe Wema Bank Plc said it has made a N1 billion loan available for Small and Medium-Sized enterprises (SMEs) seeking to purchase clean and renewable energy solutions such as solar panels, inverters, and batteries to boost their business productivity. A statement by the bank said the initiative is part of its commitment to alleviate […]
MOMAS, NEDC empower 150 youths to bridge Nigeria’s metering gap
Innocent ObasiDecember 19, 2022
By Innocent Obasi Momas Electrical Meters Manufacturing Company Limited (MEMMCOL) and the North East Development Commission (NEDC) have empowered 150 youths in the North-Eastern part of the country in their effort to close the country’s metering gap currently put at about eight million. Kola Balogun,chairman, MOMAS Group, disclosed this while speaking at the graduation ceremony […]
NEMSA certifies 10,692 electricity projects as 5,239 others await certification
Innocent ObasiDecember 19, 2022
By Innocent Obasi The Nigeria Electricity Management Services Agency (NEMSA), a safety enforcement agency, has certified 10,692 electricity projects fit for use after inspecting a total of 15,931 projects across the country in order to mitigate electrical hazards. This was disclosed recently by Aliyu Tahir, NEMSA’s managing director, in Abuja. Tahir said the inspection and […]