The Transmission Company of Nigeria (TCN) said it has completed restoration of the national grid after a partial system failure at approximately 11:21 a.m. on Sunday, in a statement late Sunday by its General Manager of Public Affairs, Ndidi Mbah said. Mbah highlighted that immediate efforts were undertaken by TCN to restore the affected section …read more →
Power
World Bank Approves $750m to Boost Renewable Energy in Nigeria
To expand access to clean energy for 17.5 million Nigerians, the World Bank has approved $750 million to boost renewable energy in Nigeria through the Renewable Energy Scale-up (DARES) project. The project is being financed by an International Development Association (IDA) credit and would leverage over $1 billion of private capital and significant parallel financing …read more →
Shell Boosts Nigeria’s Oil Output by 220,000 Barrels with Resumption of Forcados-grade Crude
Exports of Nigeria’s Forcados grade of crude oil resumed on Sunday, a Shell spokesperson said on Monday, roughly a month after loadings of the medium sweet grade were suspended because of a potential leak at the export terminal. Sources had told Reuters that exports of the grade, which was scheduled to ship 220,000 barrels per …read more →
Tinubu Vows to Eradicate Hurdles Across the Entire Power Sector Value Chain
PRESIDENT Bola Ahmed Tinubu, on Friday, declared that despite the nation’s current rate of energy supply, his administration is poised to address all the obstacles militating against stable electricity supply in the country. He said his administration will bring solutions to the multifarious challenges across the electric power sector value chain which will significantly relieve …read more →
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 →
Electricity: Transformers from €63m Siemens deal to arrive — FG
The first set of mega transformers from the €63 million Siemens deal has d in Nigeria, the Federal Government revealed. The Siemens deal which is expected to significantly improve the country’s electricity distribution capacity, was approved by the Federal Executive Council in December, 2021. A statement by the Special Adviser, Media, to the Minister of …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 →
British Power Company in trillion-Dollar Compo Blunder
British energy supplier Northern Powergrid has apologised to 74 customers after they were accidentally sent compensation cheques of more than £2.3 trillion ($4.4 trillion). Compensation is being paid to tens of thousands of customers who were left without power when severe “once in a generation” winds swept across Britain from Storm Arwen in November last …read more →
Northern Youths Urge Protection for Public Infrastructure
Northern youths, under the aegis of Arewa Youth Assembly, have called on the President, Major General Muhammadu Buhari(retd.) to engage the service of competent hands to protect the Ajaokuta-Kaduna-Kano gas pipeline from vandals. This, the youth said, became imperative to promote a steady and guaranteed gas supply from the South to the North at the …read more →