IMF, AfDB experts underscore urgency of addressing Africa’s $108bn climate finance shortfall
Onome AmugeJuly 27, 2022
By Onome Amuge African countries receive $18.3 billion worth of fundings annually to curb the devastating effects of climate change, but the continent currently faces a financing gap of $108 billion annually from the $1.6 trillion needed between 2022 and 2030 to meet the Nationally Determined Contributions (NDCs) to address climate change. Experts from the […]
NMMP: Mojec, Protogy deny CBN’s allegation of fund diversion
CHUKS OLUIGBOJuly 27, 2022
BY CHUKS OLUIGBO. Some Meter Asset Providers in the country have strongly denied the allegation by the Central Bank of Nigeria (CBN) that they diverted funds meant for mass metering of electricity consumers. Mojec International Limited and Protogy Global Services Limited on Tuesday described the accusation as baseless, unfounded, and capable of hurting the Nigerian […]
NERC, BPE name Ahmed Dangana new MD of KEDCO
Adeola AjakaiyeJuly 26, 2022
By Adeola Ajakaiye, in Kano. Power sector regulators, Nigerian Electricity Regulatory Commission (NERC) and Bureau of Public Enterprises (BPE) have approved the reconstitution of the board of directors of Kano Electricity Distribution Company Plc (KEDCO). The approval followed the federal government’s restructuring of five electricity distribution companies (DisCos) as a result of a takeover of […]
Nuclear power sees resurgence on decarbonisation, energy security
Maduabuchi EfegadiJuly 26, 2022
By Maduabuchi Efegadi. With fuel prices skyrocketing and energy supply and security concerns continuing, interest in nuclear power is gaining momentum around the world, according to a summary of recent developments. The International Energy Agency’s (IEA) report in June this year, titled, “Nuclear Power and Secure Energy Transitions”, acknowledged the unique opportunity for nuclear energy […]
NLNG commits to driving CSR for empowerment, infrastructure
Maduabuchi EfegadiJuly 26, 2022
By Maduabuchi Efegadi. Nigeria’s gas liquefaction company NLNG says it is driving its corporate social responsibility (CSR) on developing infrastructure, empowerment, health and education for the benefit of the country, particularly its host communities. The company said it is consistently looking towards the future and is harnessing prospects towards a sustainable outlook. Recently, the gas […]
Nigeria, Equatorial Guinea mull commercial partnership to enhance gas optimisation
Onome AmugeJuly 20, 2022
BY Onome Amuge Nigeria and Equatorial Guinea have commenced talks on strengthening commercial bilateral relations aimed at increasing and utilising gas production and supply for the benefit of both countries. Gabriel Lima, Equatorial Guinea’s minister of mines and hydrocarbons, made the disclosure while speaking to newsmen in Abuja following the recent unveiling of the Nigerian […]
New NNPC to deliver more value to over 200m shareholders, Buhari assures
Onome AmugeJuly 19, 2022
BY Onome Amuge. The Nigerian National Petroleum Corporation Limited (NNPC) will henceforth sustainably deliver more value to its over 200 million shareholders and the global energy community following its recognition as a commercial and independent national oil company at par with its peers around the world. The new entity will also operate without expecting financial […]
PetroNor completes acquisition of Panoro’s interest in OML 113
Habeeb AhmedJuly 16, 2022
BY Habeeb Ahmed, with agency report. Norwegian junior PetroNor E&P has completed its acquisition of a key stake in the Aje condensate, gas and oilfield offshore Nigeria, 33 months after it first announced the deal. This deal will trigger a redevelopment on the shallow water field close to Lagos and the West African Gas Pipeline, […]
COP27: Mo Ibrahim Foundation urges articulation of Africa’s case ahead climate conference
Onome AmugeJuly 13, 2022
BY Onome Amuge. As the world gets set for the 27th edition of the United Nations climate change conference (COP27) scheduled for 7-18 November 2022 in Sharm el-Sheik, Egypt, experts have recommended that African policymakers, climate leaders and citizens take urgent action to articulate Africa’s case ahead of the global climate debate. The recommendation is […]
UTM, Nigerian firm, to build Africa’s first floating LNG with Afreximbank finance
Maduabuchi EfegadiJuly 12, 2022
BY Maduabuchi Efegadi. UTM, a Nigerian offshore firm, has secured African Export-Import Bank’s (Afreximbank) project preparation facility financing to build Africa’s first Floating Liquefied Natural Gas (FLNG) facility with an LNG production capacity of 1.2 million metric tonnes per annum, and a storage capacity of 200,000 cubic metres of gas. Under the terms, Afreximbank will […]