World Bank’s $500m facility to ramp up Nigeria’s electricity supply
Tobias Pius
February 9, 2021
By Tobias Pius, with wire report Nigeria’s decrepit power sector is about to benefit from a $500 million loan the World Bank has approved to aid in revamping its lacklustre service delivery. Among the key areas the money will push to solve issues on includes electricity access improvement and an expansion on the current […]
NGC, HQ, NETCO, Duke Oil help NNPC to 54% November trade surplus
Ben EguzozieFebruary 9, 2021
Posts crude, gas export sales of $108.84m Expenditure fell by N4.81bn Crude & gas exports stood at $2.89bn in year to Nov. 2020 Two major cost management related actions at both the Nigerian Gas Company (NGC) and the headquarters helped Nigeria’s state-owned energy giant, the Nigerian National Petroleum Corporation (NNPC) post a […]
Production of Nigerian made pre-paid electricity meters begins end of February
Tobias PiusFebruary 3, 2021
By Tobias Pius Production of locally made pre-paid electricity meters is set to commence in Nigeria’s commercial capital Lagos, by the end of February, 2020, with Lagos-based international electrical wares manufacturing firm, Elsewedy Electric, taking up full operation on the production. The production is set to be stationed at Elsewedy Electric Badagry factory and […]
Global palm oil prices hit nine-year high
Onome AmugeFebruary 3, 2021
By Onome Amuge Palm oil prices surged to a nine-year high in January, following a fall in production in Malaysia and Indonesia, the world’s leading producers and exporters. Malaysia’s benchmark palm oil contract flagged off the year at near decade-high levels of $940.13 caused by a supply crunch in the demand of global edible […]
N4bn 10mw Kano solar project takes off as beneficiaries get compensation
Tobias PiusFebruary 2, 2021
By Tobias Pius The N4 billion federal government solar project for the industrial hub in the Kumbotso area of Kano State has taken off, with Kano State government already kick starting payment of compensation to landowners in order to enable a smooth take-off. The federal government is rolling out the project in Kano, […]
Savannah Energy cuts Nigeria capex by 15% to $100m in 2020-2023 plan
Charles AbuedeFebruary 2, 2021
By Charles Abuede Savannah Energy, an African focused British independent energy company with operations in Nigeria, says it is cutting its planned four-year capital expenditure (capex) programme in Nigeria by 15 per cent over 2020-2023. This will see capex over the period drop from $118 million to $100 million, the company said in a […]
Seplat completes funding for ANOH gas project with $260m raising
Ben EguzozieFebruary 2, 2021
Says project to drive energy transition in Nigeria Facility provided byconsortium of 7 banks Cost optimisation puts AGPC construction cost at $650m inclusive taxes, down from initial $700m Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both The Nigerian and London stock exchanges, on Monday announced that […]
$2bn spent on power generators in Nigeria in 20 years, says UN
Tobias PiusFebruary 1, 2021
By Tobias Pius In a 24-year timeframe Nigeria spent over $2.4 billion on importation of power generating sets, data from the United Nations International Trade Statistics Database, UN Comtrade, has shown. The data from UN Comtrade, the largest depository of international trade statistics, covered the period 1996 and 2019. Emissions from electric generators have […]
Oil giant Shell loses oil spill case to 4 Nigerian farmers in Netherlands
Ben EguzozieJanuary 29, 2021
Justice comes after 13 years But Shell says disappointed with ruling, still blames sabotage for spills A Dutch appeals court sitting at The Hague, Netherlands on Friday ruled that the Nigerian branch of energy giant, Royal Dutch Shell, is guilty of two oil spills in 2004 and 2005 in Oruma in Bayelsa State […]
AfDB’s ‘Desert to Power’ programme finally coming to Nigeria, Adesina confirms
Tobias PiusJanuary 29, 2021
By Tobias Pius The “Desert to Power” project aimed at constructing the world’s biggest solar power zone that will push 10,000 gigawatts of solar power supply in African countries is extending to Nigeria to meet up the challenges of power failure in the country. Akinwunmi Adesina, president of African Development Bank (AfDB) announced […]