The Africa Energy Bank (AEB) to be hosted in Nigeria is expected to take off officially by the first quarter of this year, the Minister of State for Petroleum Resources (Oil) said Tuesday. Senator Heineken Lokpobiri made this known while giving a keynote address at the ninth edition of the Sub-Saharan Africa International Petroleum Exhibition […]Read More
The Nigerian government has indicated that electricity tariffs may need to increase by over 65% for some consumers to align with the actual cost of power production. Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, told Bloomberg that power tariffs in Nigeria must rise by approximately two-thirds for many users to reflect the […]Read More
SustyVibes, a youth-led organisation making sustainability actionable and relatable for young Africans, has launched the Naija CookWise campaign to promote the adoption of cleaner cooking fuels among one million women and youth in Nigeria. The campaign, supported by the Urban Movement Innovation Fund, aims to raise awareness of the dangers of traditional cooking methods, highlight […]Read More
President Bola Tinubu has confirmed the approval of a $1.1 billion fund from the African Development Bank (AfDB) to provide electricity to 5 million Nigerians by the end of 2026. In addition, Tinubu highlighted the AfDB’s $200 million Nigeria Electrification Project. This aims to provide electricity to 500,000 people by the end of 2025. Bayo […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has confirmed that four state governments—Enugu, Ekiti, Ondo, and Imo—are now set to assume control of electricity generation, transmission, and distribution within their respective states. This follows the ongoing transfer of regulatory authority from NERC to state-level regulators. In an announcement shared on the social media platform X, NERC […]Read More
Lagos State Governor Babajide Sanwo-Olu has officially signed the Lagos Electricity Bill 2024 into law. This legislation represents a significant step towards the state government’s objective of delivering a 24-hour electricity supply across Lagos, marking a major advancement in its power sector reforms. The bill follows the 2023 decision by the Federal Government to grant […]Read More
Nigeria and some other African countries are set to be beneficiaries of $90 billion in electricity funds backed by the World Bank and the African Development Bank. The fund is part of the global financial institution’s plan to provide electricity to the 300 million African population by 2023, a Bloomberg report revealed. On Friday, leading […]Read More
Germany’s power market is in the midst of a significant transition. Demand continues to fall despite normalizing prices, and retired coal and nuclear capacity mean the European giant is now heavily reliant on imports from its neighbors. But it’s not all bad news for the sector. Rystad Energy projections show Germany will surpass its policy […]Read More
Africa50, a leading pan-African infrastructure investment group, has pledged $100 million to accelerate renewable energy projects and infrastructure across Africa. This $100 million investment stems from a collaboration agreement between Africa50 and the International Renewable Energy Agency (IRENA). The funds will be managed through IRENA’s Energy Transition Accelerator Financing (ETAF) platform. IRENA revealed that the […]Read More
All On, a Shell-funded Nigerian impact investment company, has awarded a $395,000 grant to Ceesolar Energy Limited in an effort to promote sustainable development and economic growth in the Niger Delta. All On, in a statement released on Thursday, said the investment marks the first beneficiary of the Niger Delta Grant program, a collaborative initiative […]Read More
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