
Tapping into Nigeria’s natural gas potentials, Tinubu’s bold move
This facility aims to reduce the largest black nation’s reliance on fossil fuel, particularly petrol, as Nigeria moves into a post-subsidy era.
This facility aims to reduce the largest black nation’s reliance on fossil fuel, particularly petrol, as Nigeria moves into a post-subsidy era.
Gas flaring is associated with the burning of crude oil to extract petrol and other by-products. The fracking, or standard process of refining crude oil has contributed to environmental degradation and global warming.
Availability and affordability are the two major barriers preventing people from gaining access to modern energy services. Millions of people live in places that are disconnected from electricity grids where off-grid solutions are not yet available to them. Millions more might be able to access electricity or clean cooking solutions, but the price of doing so is beyond their means.
They presented the results of their latest study which investigates Senegal’s optimal power system expansion. The study revealed that speeding up the deployment of renewable energy beyond what is currently planned will lead to a staggering $700 Millions of savings until 2035, primarily
It leaves industrials with a twin challenge to meet. First and foremost, they need to secure their own reliable and affordable power capacity either by buying electricity from an independent power producer or by building their own “captive” plant. Second, they need to integrate decarbonisation in their overall energy strategy. Both objectives are not contradictory. By making smart technology choices, forward looking businesses like BUA Cement, African Foundries, Lafarge, Wempco, Nestle and Flour Mills have found a way to hit these two birds with one stone. Here is how.
Our power sector is ailing. The energy crises have defeated all our presidents. Buhari is the latest victim. As a presidential candidate of his party in 2007, he issued a manifesto in which he bared his mind on the country’s myriads of social and economic problems and his proposed solutions to them should he receive the people’s thumbs up to become our president. Tackling the energy crises was one of them.
The ‘battle’ has now shifted to fuel subsidy removal without any provocative statement from the government in recent times
This new power generation paradigm is, in many ways, a perfect fit for Africa. The continent enjoys some of the highest wind and solar energy resources on the planet, which means that the renewable energy plants built here boast some of the best productivity rates in the world.
Michael R Bloomberg, UN Secretary-General’s Special Envoy on Climate Ambition and Solutions and Founder of Bloomberg LP and Bloomberg Philanthropies said the global transition from fossil fuels to clean energy has the potential to benefit economies and health across Africa.
If COP26 last year in Glasgow was about big pledges from governments and big business to provide a pathway to the goals of the Paris Agreement and enable a net-zero world by mid-century, then a successful COP27 has to be about finding out exactly how nations and corporations are planning to turn their promises into action.