Energy

Nigeria and Stag Engineering to Power Prosperity

Industrial activity is imperative to Nigeria’s development, with the engineering sector in particular boosting financial growth and providing a solid plateau for investment “There are a lot of business opportunities in Nigeria,” claims Alfred Ayotunde Jagun, CEO of Nigerian-owned Stag

IFC to Invest $1 Billion in Nigeria’s Power Sector

The International Finance Corporation, a member of the World Bank Group that finances and provides advice for private sector ventures and projects in developing countries has said it would invest $1 billion in Nigeria’s power sector. The funds will be

We Will Transform Ten Million Lives in Ten Years – Elumelu

Nigeria’s business mogul, investor, and philanthropist, Tony Elumelu, recently spoke at the Clinton Global Initiative on the objectives of the Tony Elumelu Foundation and its peculiar interest in engineering growth among SMEs in the African continent. According to Elumelu, economic

Nigeria Power Sector Reform: FG Hands Over 15 Firms

Nigeria’s President Goodluck Jonathan will, today, hand over certificate of ownership and licences to the new owners of the Power Holding Company of Nigeria 15 successor companies. Mr. Benjamin Dikki, Director-general of the Bureau of Public Enterprises (BPE), explained that

Nigeria and China Sign $1.2 Bn Agreement to Build Power Plant

Nigeria and China have signed a $1.293 billion agreement to develop the Zungeru Hydroelectric Power Project in Niger State. The plant is expected to generate 700 Megawatts (MW) of electricity. The contract was awarded to two Chinese electric power firms,

NNPC Earns $20.9 Billion from Crude Oil Sales in 2013

The Nigerian National Petroleum Corporation (NNPC) has put its 2013 revenue from oil sales for Year to Date, at $20,907,063,959.35 from 191,939,235 barrels of crude oil sold. NNPC did in a presentation to the Committee of Petroleum (Upstream) of the

Towards Energy Conservation Month, Governor Fashola Hosts Google Hangout

Lagos State Governor, Babatunde Raji Fashola, will, on Friday 27th September, 2013, host Google Hangout from Mega Plaza, Victoria Island, Lagos to discuss topics on Energy and Power in the state. The Hangout is preparatory towards the state’s Energy Conservation

Nigerian Climate Change Activists Plan ‘Walk to Mali’ Trek

Climate change activists in Nigeria are planning a 12-man walk from Abuja through Niger, Mali, the Ivory Coast, Ghana, Togo and Benin to Lagos. Organisers say they intend to use the walk to raise awareness, on climate change effects involving

Electricity: USTDA Sponsors Nigerian Executives on Reverse Trade Mission

Senior executives from four leading power distribution companies in Nigeria – Abuja, Benin, Eko, and Ikeja – with a combined procurement budget of over $800 million, will participate in a Reverse Trade Mission (RTM) to the United States from October

Grid Energy Challenge Launched in Nigeria

The U.S. African Development Foundation (USADF) has partnered with GE Africa to launch the Power Africa Off-Grid Energy Challenge, a three-year, $2 million challenge that will award 20 or more grants of up to $100,000 each to African companies and

UBA Considering $2Bn Investment in Power Sector

The Chief Executive Officer of United Bank for Africa (UBA), Phillips Oduoza, has said the bank is looking to invest $2 billion in the power sector in Nigeria and across Africa. He revealed that the bank has already invested $700

Dangote Group Signs $3.3Bn Loan To Build Refinery in Nigeria

Industry leader in Cement and Sugar Manufacturing in Africa, Dangote Group, has announced that it has signed a loan facility agreement of $3.3 billion to build a refinery and petrochemicals complex at the OK-LNG Free Trade Zone, between Ogun and

PAVE Partners CTI-PFAN on Clean Energy Businesses in Nigeria

Climate Technology Initiative Private Financing Advisory Network (CTI PFAN) is set to commence operations in Nigeria, the Pan African Vision for the Environment (PAVE) has disclosed. PAVE defines PFAN as a multilateral, public-private partnership initiated by the CTI in cooperation

Dangote Group Seeks $3.3 Bn to Finance Refinery Project

Dangote Group has announced that it would borrow $3.3 billion to finance a $9 billion oil refinery and petrochemical complex in Nigeria. The Group said it was seeking a further $2.25 billion from development funds for the project, into which

Nigeria Will Complete 11 Power Plants by 2014 – Minister

The Federal Government is currently constructing 11 power plants which will be completed before the second quarter of 2014, Information Minister, Laraban Maku has said. He said that “seven out of the power plants have so far been completed, while

Nigeria Signs $3.7 Bn Coal Power Project with Chinese Firm

HTG-Pacific Energy Consortium and The Federal Ministry of Mines and Steel Development have signed a $3.7 billion deal for a coal power project at Ezimo Coal Block in Enugu State and a 1,000 megawatts coal power generating plant. This will

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