The Oil Refiners Association of Nigeria (CORAN), the umbrella body of local refiners have appealed to the Central Bank of Nigeria (CBN) to create a crude refinery intervention fund similar to the agricultural credit fund or the pharmaceutical fund domiciled at the apex bank to drive effective business operations in the country. They have also …read more →
ENERGY
Nigeria Could Play A Key Role in Europe’s Energy Transition
Nigeria is loaded with natural resources that could help Europe in its energy transition. Europe has the necessary elements to build out the as-yet underdeveloped Nigerian energy sector. There are many challenges on the road to a successful partnership, the broadest of which is the fragile political stability of Nigeria. Nigeria could be emerging as …read more →
PIDG’s Emerging Africa Infrastructure Fund Anchors $420mn Bond Issuance
Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF) was an anchor investor in a recent successful bond issue by African telecommunications and digital company Axian Telecom. It raised US$420 million (€369.31 million). EAIF has invested US$20 million (€17.59 million) in the bond, scaled back from an original commitment of up to …read more →
Green Hydrogen: The New Energy Frontier in Africa
The 2015 Paris Climate Agreement, which seeks to limit global increase in temperatures to less than 2°C this century, was signed by 195 countries, 33 of which are African. To achieve this ambitious target, significant carbon emission reductions and energy efficient systems are required. As part of the agreement, countries have set out a range …read more →
EGYPS 2022: ‘Natural Gas is the Fuel for Sustainable Development’
Doha — As the global population edges towards the 10 billion mark by 2050 and world GDP more than doubles, natural gas will continue to play a crucial role in alleviating energy poverty, fueling economic growth, expanding prosperity, and contributing to the protection of the environment, according to Mohamed Hamel, the Secretary General of the Gas Exporting Countries …read more →
Dangote Refinery Production Could Accelerate Nigeria’s Economic Recovery – IMF
The International Monetary Fund, IMF, has noted that the non-oil sector of the Nigerian economy could be stronger, benefit from its recent growth momentum, and higher production from the new Dangote Refinery, and its supportive credit policies. The IMF’s Executive Board 2021 Article IV Consultation with Nigeria released recently, said that Nigeria’s ratification of the …read more →
NLNG Refutes Report on Operating “Illegal International Cartels”
The Nigeria LNG Limited, NLNG has denied a report making the rounds that top officials of the company, and that of the Nigerian National Petroleum Corporation, NNPC Limited operate illegal international cartels, and illegally ship over $1billion oil to the U.S, and South American Countries. A statement signed by Andy Odeh, General Manager, External Relations …read more →
DOE Establishes Bipartisan Infrastructure Law’s $9.5 Billion Clean Hydrogen Initiatives
The U.S. Department of Energy (DOE) has announced two Requests for Information (RFI) to collect feedback from stakeholders to inform the implementation and design of the Bipartisan Infrastructure Law’s Regional Hydrogen Hub and the Electrolysis and Clean Hydrogen Manufacturing and Recycling Programs. This request will help accelerate progress, reduce technology cost, and ramp up the …read more →
EU Plans $22.7 billion Transport Network, Other Projects Across Africa
The European Union (EU) is working on a €20 billion ($22.7 billion) financing package to support African transport networks, as well as energy, digital, education and health projects to counter China’s reach in the continent. Member states, a Bloomberg report disclosed, however, have yet to commit to financing the infrastructure plans, according to officials familiar …read more →