Nigeria, SSA big energy transition challenge, need $350bn to electrify
Olusola Bello
March 21, 2022
![Nigeria, SSA big energy transition challenge, need $350bn to electrify](https://www.businessamlive.com/wp-content/uploads/2022/03/electricity.jpg)
BY: OLUSOLA BELLO Nigeria and the entire sub-Saharan Africa offer an alternative vision of how the energy transition will change power generation, according to new research by global energy consultancy Wood Mackenzie. Statistics from African Development Bank (AfDB) show that more than 640 million Africans have no access to energy, which corresponds to an electricity […]
Power grid failures pile pressure on economic growth
Onome Amuge
March 21, 2022
![Power grid failures pile pressure on economic growth](https://www.businessamlive.com/wp-content/uploads/2022/03/Power-grid.jpg)
BY: ONOME AMUGE Just as Nigerians continue to bear the brunt of the current energy crisis in the petroleum sector amid rising inflation, the country’s erratic electricity output, spurred by poor power supply from the national grid and the recurring electricity system collapse, has inflicted yet another blow on the populace. The agonsing trend of […]
New gas deal to boost Nigeria’s 1.2 tcf
BEN EGUZOZIE
April 26, 2021
![COVID-19 lockdown: NLNG, Total, NGC, others ask Rivers State for exemption](https://www.businessamlive.com/wp-content/uploads/2020/03/lng-n-1.jpg)
…GDA, Nigeria’s first agreement separating gas development from oil production Ben Eguzozie, in Port Harcourt A new gas commercialization deal signed by the Nigerian National Petroleum Corporation (NNPC) and Sterling Oil Exploration and Production Company (SEEPCO), a private operator of the Oil Mining Lease (OML) 143, is set to boost Nigeria’s 1.2 trillion cubic […]
Nigeria tops electricity-deficient countries – World Bank
BEN EGUZOZIE
April 26, 2021
![](https://www.businessamlive.com/wp-content/uploads/2021/03/machinedesign_21805_powergrid_695555248_0.png)
…Down from 2017 ranking after Yemen …Global lender approved $1.25bn financing to support Nigeria reset power sector …Businesses lose $29bn annually to power unavailability Ben Eguzozie, in Port Harcourt Nigeria, Africa’s top oil producer and the continent’s biggest economy by GDP, has unenviably slipped into first-from-bottom in electricity-deficient countries index, according […]
Poor electricity costs Nigerian businesses $29bn per year – World Bank
Online Editor
April 22, 2021
![](https://www.businessamlive.com/wp-content/uploads/2021/03/machinedesign_21805_powergrid_695555248_0.png)
Arakunle Kayode The World Bank has disclosed that approximately $29 billion is lost every year for Nigerian businesses as a result of the country’s unreliable electricity. According to the bank, Nigeria also has the most people without access to electricity in the world, with one out of every ten people without access to electricity […]
TCN, PHED yet to fix Afam shattered transmission station as PH blackout continues
Been Eguzozie
April 16, 2021
![](https://www.businessamlive.com/wp-content/uploads/2021/03/machinedesign_21805_powergrid_695555248_0.png)
…TransCorp acquired Afam plant at N105.3bn in 2019 Ben Eguzozie, in Port Harcourt Engineers from the Transmission Company of Nigeria (TCN) and Port Harcourt Electricity Distribution Company (PHED) have yet to fix the shattered power transformer at the Afam transmission station in Oyigbo council of Rivers State. The explosion which […]
ANOH gas project: Shell hands out N360m third milestone CDBs social investment projects
BEN EGUZOZIE
April 15, 2021
![Shell Nigeria assets: Analysts say due diligence rests with bidders](https://www.businessamlive.com/wp-content/uploads/2020/11/shell.jpg)
…Imo governor commends company’s promotion of community contractors …CDBs to receive N1bn in projects over 5 years Ben Eguzozie, in Port Harcourt Shell Petroleum Development Company (SPDC), global oil player with the largest footprint in Nigeria, has handed out cheques worth over N360 million to community contractors for the third milestone […]
Experts point landmines for new awardees, financiers of Nigeria’s marginal fields
BEN EGUZOZIE
April 15, 2021
![](https://www.businessamlive.com/wp-content/uploads/2021/03/Crude-Oil-Pump-1.jpg)
…Say fields portend great liability for investors …Getting equity capital to make 2C bankable a long, hard road …57 fields never had production tests done on them …Said assets over-priced; were given free alongside gas in last bid round Ben Eguzozie, in Port Harcourt Experts versed in bidding and licencing rounds […]
Optimism grows on oil demand returning 100mbd
Businessam Staff
September 29, 2020
![](https://www.businessamlive.com/wp-content/uploads/2020/08/Oil-falls-as-U.S.-stimulus-hopes-dim-virus-cases-rise-.jpeg)
The whiff of optimism being expressed in respectable quarters about chances that oil demand could yet return to the psychological comfortable figure of 100 million barrels per day received another heavyweight support last week with ConocoPhillips joining the fray to issue a forward-looking statement that demand will not only return to that number but that […]
New electricity tariffs: NLC threatens action against Discos, OPS says it will usher in recession fast
Businessam Staff
September 2, 2020
![NLC gives govs Dec 31 deadline for new minimum wage implementation](https://www.businessamlive.com/wp-content/uploads/2019/12/nlc-2.jpg)
Organised labour and the organised private sector have slammed the upward review of electricity tariffs which started on September 1, 2020. Commenting on the matter, the Manufacturers Association of Nigeria said the tariff increase could trigger another round of recession in the third quarter of the year. Ambrose Oruche, the acting director-general, Manufacturing Association of […]