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Tag: Energy

Renewable energy jobs hit 16.2m, study reveals
News

Renewable energy jobs hit 16.2m, study reveals

A new report has revealed a remarkable surge in jobs within the renewable energy sector, reaching 16.2 million in 2023—the highest annual growth rate recorded. The “Renewable Energy and Jobs—Annual Review 2024,” released by the International Renewable Energy Agency and the International Labour Organization, highlights an 18% increase from 13.7 million jobs in 2022, driven […]

FG lauds Savannah Energy for investment in Nigeria's energy sector
News

FG lauds Savannah Energy for investment in Nigeria’s energy sector

The federal government has commended Savannah Energy, a British independent energy company, for its significant investment in Nigeria’s energy sector. During a recent visit to the Uquo Gas Central Processing Facility in Akwa Ibom State, Minister of Petroleum Resources (Gas) Ekperikpe Ekpo highlighted the government’s strategic focus on developing the gas sector to bolster the […]

Egypt, Ghana, others rival Nigeria's bid for $5bn Energy Bank
News

Egypt, Ghana, others rival Nigeria’s bid for $5bn Energy Bank

African oil-producing countries are on the brink of deciding the fate of the continent’s first energy bank, initially backed with $5 billion. However, opposition against Nigeria’s bid to host the institution has intensified, with six countries—Ghana, Egypt, South Africa, Benin Republic, Cote d’Ivoire, and Algeria—vehemently opposing the choice of Nigeria as the bank’s location. These […]

Italy ready to invest in Africa’s energy sector - Eni
Energy

Italy ready to invest in Africa’s energy sector – Eni

The CEO of massive global energy company Eni, Claudio Descalzi, has stated that Italy is prepared to invest in Africa. According to Reuters, he stated this during a political event in Rome on Saturday, December 16, that Italy is willing to invest in Africa for two main reasons. First and foremost, to obtain the energy resources required […]

Clean energy: Nigeria, others to get UK's £40m grant
News

Clean energy: Nigeria, others to get UK’s £40m grant

Bisola David A UK-based initiative, The Energy Catalyst, has awarded over £40 million in grant funding to various pioneering projects in countries such as Nigeria dedicated to leveraging clean energy and facilitating an equitable and inclusive transition to sustainable energy. The Times reported that this funding was announced by UK Prime Minister, Rishi Sunak during the United Nations […]

Energy

Investors shift from fintech to energy in Africa — Economic analyst

An economic and industrial analytics consultancy, Stears, has stated that investors are paying less attention to African fintech startups as their investment focus shifts to energy. According to The Times, this was said by the co-founder and COO of Stears, Abdul Abdulrahim, during his keynote address at the recent IATF 2023 conference in Cairo. Analyzing the investment […]

Masters Energy urges FG to handle FX issues
Business

Masters Energy urges FG to handle FX issues

Masters Energy Oil & Gas Limited has petitioned the Federal Government to ease currency restrictions in product importation. The Punch reported that this was said by the Executive Director of Operations of Masters Energy Group, Felix Eribo, on the sidelines of the just completed 2023 Oil Trading and Logistics Africa Downstream Week in Lagos. He urged the […]

FG identifies $23bn in potential energy transition investments
Energy

FG identifies $23bn in potential energy transition investments

The Minister of Power, Adebayo Adelabu, has stated that the Federal Government has identified around $23 billion in investment potential in Nigeria for projects that are directly tied to the country’s Energy Transition Plan. This information was released on Monday. According to The Punch, Adelabu stated during his speech at the 2nd German-Nigerian Symposium on Green Hydrogen that […]

Nigeria one of countries most affected by energy shift - APPO
Energy

Nigeria one of countries most affected by energy shift – APPO

Nigeria and its African neighbours have been identified as the primary victims of the industrialized world’s rapid energy transformation. The Punch reported that the  Secretary-General of the African Petroleum Producers’ Organisation, Omar Farouk, stated that the countries of Africa were being pressured to stop the exploration of fossils on Monday at the 3rd Biennial International Conference […]

EU invests €3bn, generates 160,000 jobs in Nigeria yearly - Ambassador
Business

UK businesses urge EU to reduce energy prices

European businesses have urged European Union to lower energy prices and ease policies to stop industries from leaving the country. This statement was made on Monday, as Brussels prepared plans to accelerate the green economy. The EU is driving towards Europe’s enhanced attractiveness to companies and industries who may be want to move to United […]

EU invests €3bn, generates 160,000 jobs in Nigeria yearly - Ambassador
Energy

Europe’s energy bills hits 800 billion euros

Researchers stated on Monday that the amount spent by  European countries to protect people and businesses from rising energy expenses has risen to about 800 billion euros. Researchers have urged countries to be more strategic in their expenditure to address the energy crisis. The analysis by think-tank Bruegel, showed that European Union  countries have set […]

A picture of the Energy Minister, Saudi Arabia Prince Abdulaziz bin Salman
Business

EU sanction may affect energy supply, Saudi minister warns

Saudi Energy Minister, Prince Abdulaziz bin Salman warned on Saturday that the sanctions being imposed by the European Union will have adverse effect on the energy sector resulting in the shortage of supplies. According to Reuters, the minister said this at an industry conference in Riyadh, the state capital of Saudi Arabia in response to […]