Nigeria’s first crude export cargo Anyala set for Europe
The first export cargo of Nigeria’s newest crude grade Anyala is on its way to Northwest Europe, trading and shipping sources said on Monday.
Year: 2021
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New Navara expanding Nissan’s 60-year legacy of investment in Africa
When Nissan made its first investment towards Africa’s growth sixty years ago with Datsun’s presence in Zimbabwe and the Nissan Motor Company Limited, opening its Rosslyn operations, it was the humble, but bold start of a journey. With a firm belief in the opportunities that lie on the African continent, the group furthered its investments in 2000, when it purchased a 37 percent stake from Sanlam Group; opened an assembly facility in Egypt; and became the first overseas auto manufacturer to begin local assembly in Nigeria in 2014.
Nigeria’s oil-refining revamp gets off to a slow start
A year after shutting down all of its dilapidated refineries to figure out how to fix them, Nigeria still can’t say how much it will cost to do the work or where the money will come from.
Daystar Power raises $38m for West Africa expansion
Solar energy solutions company Daystar Power has raised $38 million, mostly from development finance institutions, to expand operations across West Africa, it said on Tuesday.
Saudi Crown Prince announces Zero Carbon Smart City
A zero-carbon city will be built on the site of the Neom smart city project, Crown Prince Mohammed bin Salman said on Sunday, as quoted by Reuters.
Globeleq acquires 74% stake in Nigerian power business CPGNL Limited
Globeleq, an independent power generation company will take a 74% stake in Nigerian power business CPGNL Limited
FG to earn N7.9bn from 161 firms shortlisted for Marginal Field Bid Round
The Federal Government is estimated to generate a total revenue of N7.9bn from the 161 companies shortlisted to advance to the final stage of the marginal fields bid round launched seven months ago.
Power Minister orders NERC to forestall the implementation of duly performed review of tariffs
To promote a constructive conclusion of the dialogue with the Labour Centers (through the Joint Ad-Hoc Committee), I have directed NERC to forestall the implementation of the duly performed minor review (which adjusted tariffs between N2 per kWh and N4 per kWh) until the conclusion of the Joint Ad Hoc Committee’s work at the end of January 2021.
AfDB approves $15m for clean energy generation in sub-Saharan Africa
The African Development Bank’s board of directors have approved $15 million from the Sustainable Energy Fund for Africa (SEFA) and $10 million from the Clean Technology Fund (CTF) to advance African Renewable Energy Fund (AREF) II’s projects to boost low-carbon energy generation in sub-Saharan Africa.
Gas producers seek full payment from power sector
The Nigerian Gas Association (NGA) and other stakeholders have said the liquidity issues that hamper returns from the power sector should be speedily resolved to address legacy debts and facilitate full recovery of gas revenues from the Nigerian electricity supply industry.