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Energy

Global energy shift would require over $1trn, UNCTAD warns

The United Nations Conference on Trade and Development has said the global transition to renewable energy will require more than $1 trillion in annual investments by 2030, warning that developing economies may struggle to meet climate and energy targets without stronger foreign direct investment inflows and wider access to clean technologies. The disclosure was contained […]

Nord Stream gas leak has stopped, says spokesman
Energy

FG harps on energy solutions for Nigeria’s economic advancement

The Federal Government has emphasised that tackling Nigeria’s persistent energy supply challenges is essential to achieving long-term, sustainable national prosperity. Permanent Secretary of the Federal Ministry of Petroleum Resources, Mr. Emeka Vitalis Obi, made this known on Tuesday at the 8th Valuechain Annual Lecture Series in Abuja. According to Vanguard, the event, themed “Growth in […]

Energy featured

Regulatory collaboration key to Nigeria’s energy transformation — OTL

Nigeria’s energy transformation has been hinged on regulatory collaboration, according to Mr. Tunji Oyebanji, Chairman of the Advisory Board for the OTL Africa Downstream Energy Week. Oyebanji made this assertion at a media parley discussing the upcoming OTL 2025, which is scheduled to hold in Lagos. Oyebanji provided details about the focus and scope of […]

Business

Global Energy Alliance commits $16m to enhance Africa’s energy access

The Global Energy Alliance for People and Planet has committed $16 million to enhance energy access and promote the deployment of clean energy initiatives across Africa. This announcement was made during the 80th session of the United Nations General Assembly and underscores support for Mission 300, a collaborative initiative led by the World Bank Group […]

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 […]

Optimera Energy establishes gas facilities in Lagos Free Zone
Oil and Gas

Optimera Energy establishes gas facilities in Lagos Free Zone

Optimera Energy LFZ Enterprise has begun development of infrastructure at the Lagos Free Zone to supply natural gas to zone businesses. According to The PUNCH, the Managing Director of Optimera Energy, Mrs Audrey Joe-Ezigbo, revealed during the zone’s groundbreaking event on Tuesday that the infrastructure included a 25 million Standard Cubic Feet per day City Gate Station, […]

Chinese, Nigerian energy firms sign $1bn gas flaring deal
Business

Chinese, Nigerian energy firms sign $1bn gas flaring deal

A Nigerian energy corporation, NIGUS International, has entered into a $1 billion agreement with Beijing Zhogmin Xinjunlong New Energy Technology corporation Ltd., a Chinese enterprise, to finance and promote gas flaring solutions in Nigeria. According to the News Agency of Nigeria, President Bola Tinubu issued a national directive that led to the signing of this agreement on […]

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 […]

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