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 […]
FG to release $100m to Siemens to further power sector rehabilitation
Habeeb AhmedJuly 7, 2022
By Habeeb Adamu The Federal Government of Nigeria will soon release $100 million to Siemens to carry on with the necessary rehabilitation works in the power sector. This is coming on the basis of an agreement between the government and the National Assembly on the compelling need to improve the power supply situation in the […]
DisCos kick against takeover as FG assures continued service, stability
CHUKS OLUIGBOJuly 7, 2022
BY CHUKS OLUIGBO The Federal Government-sanctioned takeover of five electricity distribution companies (DisCos) in Nigeria is not sitting well with some of the DisCos and they have vowed to battle it out with the government. The takeover of Kaduna, Benin and Kano DisCos by Fidelity Bank and the appointment of new boards for the companies […]
NNPC unveils ambitious plans to compete with private sector in oil industry
Habeeb Ahmed, Onome AmugeJuly 7, 2022
BY Onome Amuge & Habeeb Ahmed The Nigerian National Petroleum Company (NNPC) Limited has assured that plans are underway towards a significant upscale in operations underpinned by its evolution into a Companies and Allied Matters Act (CAMA) entity, which is expected to elevate its position as not just a premier oil firm, but also […]
NSIA, Vitol seal $50m carbon reduction deal
Rosemary IwualaJuly 6, 2022
BY ROSEMARY IWUALA The Nigeria Sovereign Investment Authority (NSIA) and Vitol, a multinational oil supply company, have sealed an agreement to establish a joint venture that will enable both firms to invest in a range of carbon avoidance and removal projects. This will enable the two organisations to invest exclusively in projects in Nigeria, […]
Nigeria oil minister says still committed to fossil fuel, despite energy transition
Mike OchonmaJuly 6, 2022
BY MIKE OCHONMA Coming against the backdrop of mounting pressures for countries to de-emphasize investments in the development of fossil fuels to to make way for the development of cleaner energy, otherwise christened, net zero, Timiprye Sylva, minister of state for petroleum resources, on Tuesday reiterated that Nigeria cannot abandon fossil fuel despite the energy […]
Nigeria, EU, Germany launch SE4ALL to improve electrification planning
Mike OchonmaJuly 5, 2022
BY MIKE OCHONMA Nigeria, the European Union and Germany on Tuesday launched the Nigeria SE4ALL. 3.0 version Web based platform to improve electrification planning using mini-grid supply in the country. Abubakar Aliyu, minister of power, while cutting the ribbon to mark the launch of the new web platform, noted that access to digital, ground truth […]
Growing demand for LPG exposes Nigeria’s attractive market to business
Maduabuchi EfegadiJuly 5, 2022
BY MADUABUCHI EFEGADI Domestic demand for Liquefied Petroleum Gas (LPG), or cooking gas, in Nigeria has shot up significantly in the last 14 years, from about 60,000 metric tonnes in 2007 to over 1,000,000 metric tonnes as of 2020, making Nigeria one of the fastest-growing LPG markets in the world. The rise in domestic consumption […]
Shell halts sale of Nigeria onshore oil assets
Habeeb AdamuJuly 1, 2022
BY HABEEB ADAMU Oil giant Shell has suspended plans to sell its onshore oil assets in Nigeria in compliance with a Supreme Court ruling that said it had to wait for the outcome of an appeal over a 2019 oil spill. The London-based company said in a statement on Thursday that it welcomed the […]