AfDB issues climate finance guidelines for Nigeria,others
Business a.m.
September 29, 2023
Business A.M The African Development Bank Group (AfDB) has released country-by-country economic reports to support Nigeria and other African policymakers in accessing the much needed climate finance for a green economy. The multilateral development finance institution made the disclosure in a report titled, “Mobilising Private Sector Finance for Climate and Green Growth in Africa”, launched […]
NNPC,Indorama seal $7bn gas supply deal to unlock $18bn lifetime revenue
Onome AmugeSeptember 19, 2023
By Onome Amuge. The Nigerian National Petroleum Company (NNPC) Limited has signed a memorandum of understanding (MoU) with Indorama Eleme Petrochemicals Company Limited to promote the use of natural gas by large-scale gas utilisation industries. The deal, estimated at $7 billion, was signed by Mele Kyari, the group chief executive of the NNPCL, on behalf […]
Cooking gas prices to rise next week, says marketers
Onome AmugeAugust 10, 2023
Consumers of liquified natural gas, also known as cooking gas, have been told to brace up for tougher times ahead as marketers project a price hike of the commodity starting from next week, fuelled by rising international prices, high tax rates and prices of vessels, forex scarcity, and naira devaluation. Olatunbosun Oladapo,president of the Nigerian […]
OPEC, IEA, World Bank data say Nigeria gas flaring down 45% in 10yrs
BEN EGUZOZIEJuly 31, 2023
By Ben Eguzozie. Data from OPEC, the global oil cartel, validated by the International Energy Agency (IEA) and the World Bank say Nigeria has put up “best performance” in gas flaring between 2012 and 2022, reducing flaring by 45 per cent during the period. Also, Nigeria, Africa’s leading oil producer, reduced gas flaring intensity to […]
AEDC decries increased vandalism of power infrastructure across franchise area
Innocent ObasiJanuary 9, 2023
By Innocent Obasi Abuja Electricity Distribution Company Plc (AEDC), one of the eleven downstream operators in the Nigerian electricity market, has said the high frequency of incidents of vandalism to its electrical assets and installations across its franchise area is a serious concern for the company. AEDC made this disclosure in a statement issued by […]
New NDDC board faces jury over genuine development for region
BEN EGUZOZIEJanuary 9, 2023
By BEN EGUZOZIE Wike pushes regional development approach Economists call for Marshall Plan approach As regional masterplan abandoned for years New board promising sweeping changes The jury is now out to see what changes the newly inaugurated board of the Niger Delta Development Commission (NDDC) will bring to bear on the much neglected oil producing […]
Nigeria’s oil, gas earnings rise 60.42% to N18.18trn, CBN confirms
Innocent ObasiDecember 19, 2022
By Innocent Obasi Nigeria crude oil and gas export earnings have increased by $40.86 billion (about N18.18 trillion) in the first eight months of 2022 which is a 60.42 percent increase against $25.47 billion generated in the corresponding period of 2021. The Central Bank of Nigeria (CBN), made the disclosure in its economic reports for […]
Mo Ibrahim faults COP27’s impact on Africa’s vulnerability to climate change
Innocent ObasiDecember 8, 2022
By Innocent Obasi Mo Ibrahim, the founder and chairman of the Mo Ibrahim Foundation (MIF), has noted that the recently held United Nations Climate Change Conference (COP27), did not achieve the desired impact on Africa’s specific vulnerability to the impact of climate change. Sharing his views on the conference, Ibrahim said; “We mustn’t delude ourselves […]
Greenville LNG signs MoU with Nasarawa for infrastructural development
Innocent ObasiDecember 2, 2022
By Innocent Obasi Greenville Liquefied Natural Gas (LNG) Limited, an LNG production and distribution company, has signed a Memorandum of Understanding (MoU) with the Nasarawa State government to allocate land for an LNG and liquefied compressed natural gas (L-CNG) facility in Lafia, the state capital. The company disclosed this in a statement released on […]
COP 27: Africa’s energy poverty keeps 600m people without access
Maduabuchi EfegadiNovember 17, 2022
BY MADUABUCHI EFEGADI …Hinders continent’s economic devt., industrialisation Africa’s energy poverty, which is a major constraint to the continent’s economic development, now increasingly hinders trade in the continent. This was disclosed by Hippolyte Fofack, chief economist and director, research and international cooperation at Africa Export-Import Bank (Afreximbank), at the ongoing 27th UN climate summit […]