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France, through its development agency the French Development Agency (AFD), has approved for the Transmission Company of Nigeria (TCN), a total of $245 million financial package to undertake its expansion of Nigeria’s electricity grid at the northern ends of the country. A statement from TCN’s General Manager, Public Affairs, Mrs. Ndidi Mbah, explained that the board of AFD approved the $245 million on December 20, 2018. Mbah, stated that the funding would enable TCN undertake the Northern Corridor Project under its Transmission Rehabilitation and Expansion Program (TREP). She noted that apart from the AFD’s $245 million financial package for the project, the European Union (EU) had earlier approved a grant of €25 million for the project. According to her, the approval of the Northern Corridor Project by the board of AFD and European Union was a significant step towards establishing a modern electricity grid in Nigeria. She noted that while the TREP sought to rehabilitate,...
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Nigerian Green Energy StartUp Implements power-as-a-service (PaaS) Solar Offering Green energy supplier start-up Rensource has implemented new business model, power-as-a-service (PaaS), to supply cleaner and less expensive solarpower in Nigeria. Rensource’s new PaaS solar offering, specifically designed for the Nigerian market, is a distributed infrastructure the customer pays to use and not to own. The PaaS solution is said to help compensate the nation’s longstanding failure to develop sufficient utility-scale power infrastructure, replacing millions of fossil fuel generators. Rensource’s founder and chief executive officer (CEO) Ademola (Demmy) Adesina said: “Various efforts to address the generator-centric power problem in Nigeria have largely failed. “The additional demand from accelerating urbanisation and a rapidly growing population have far outpaced meagre investments into ageing generation and transmission infrastructure. “Various efforts to addr...
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Power, fuel subsidies gulping Nigeria's resources for health, education - US

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Nigeria is pouring scarce resources required to fix critical sectors such as education and health care services into subsidies on petroleum products and electricity, the United States Agency for International Development has said. The USAID Country Mission Director, Stephen Haykin, who represented the US Ambassador to Nigeria, Stuart Symington, said this at the 10th Anniversary Colloquium of the Financial Nigeria Magazine in Abuja on Tuesday. The USAID Country Mission Director, Stephen Haykin, who represented the US Ambassador to Nigeria, Stuart Symington, said this at the 10th Anniversary Colloquium of the Financial Nigeria Magazine in Abuja on Tuesday. Haykin said the inability of the country to recover the cost of electricity as well as the failure to recover the full cost of production from pump prices of petroleum products meant that critical resources were being diverted instead of being invested in critical needs in education and health care. He stated, “One pro...
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NNPC, Chinese Consortia Sign MoUs on Biofuels Production

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…As Corporation Targets 10 Biofuel Complexes Nationwide The Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) in China with Nigerian-Chinese consortia towards developing sustainable biofuels in the country. In a ceremony held at the Nigerian Embassy in Beijing on the sidelines of the ongoing Forum for China-Africa Cooperation (FOCAC) Summit Tuesday, two separate MoUs on the biofuels project development were signed between: NNPC and the OBAX-COMPLANT Consortium on one hand and NNPC and the CAPEGATE-NANNING Consortium on the other hand. Speaking shortly after signing the dotted lines on behalf of the corporation, NNPC Group Managing Director, Dr. Maikanti Baru, said the MoUs signing was aimed at implementing the Federal Government’s mandate on clean, alternative and renewable energy programmes, particularly automotive biofuels production nationwide. “The aspiration for the exploitation of renewable fuel resources in Nigeria is t...
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Nigerians should be glad Buhari withheld assent of PIGB

Abuja – Presidential aide, Sen. Ita Enang, has said that rather than expressing displeasure, Nigerians should be glad that President Muhammadu Buhari withheld assent to the Petroleum Industry Governance Bill (PIGB). President Buhari Enang, who is the Senior Special Assistant (SSA) to the President on National Assembly Matters (Senate), stated this when he featured on News Agency of Nigeria (NAN) Forum in Abuja on Tuesday. He said that if the president had signed the bill, it would have made some commissions and agencies so rich that funds they would be collecting from the industry monthly would be more than what six states got monthly According to him, Buhari feels that the PIGB in its current form will create another `masquerade’ that would be a liability and debit to other tiers of government. By masquerade, Enang was referring to the provision of the Bill that allows the Petroleum Industry Regulatory Commission to retain as much as 10 per cent of the total revenue generated in the o...
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European Investment Bank Sign $25M Solar Funding Pact for Nigeria, Others The European Investment Bank (EIB–the EU bank) yesterday, signed a $25m financing installation of off-grid solar systems with the light to strengthen access to energy in Nigeria and four other African countries. Vice-President of the bank, Ambroise Fayolle, who announced the project at the ongoing 6th Africa CEO Forum in Abidjan, Cote ‘Ivoire, listed other countries to include Ethiopia, Kenya, Tanzania and Uganda, said the energy would be supplied via solar kits that do not require a grid, which are easy to use and inexpensive for users, to come in a pre-payment system. He stated that particular emphasis will be placed on rural and suburban populations and micro-entrepreneurs when it eventually materialise. According to him, the financing will enable d.light design to develop the installation of solar kits – including not only panels and lamps, but also low-energy equipment (radios, TVs, etc.) –...
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Efficient power supply catalyst for nation building, says PCN boss Culled from the Guardian National Commandant of Peace Corps of Nigeria (PCN) Dickson Akoh, on Sunday, said regular and efficient power supply remained the catalyst for maximisation of the nation’s entrepreneurial capacity. He said this during the first anniversary of Shagmus Nigeria Integrated Service Limited with the theme “Creating New Nigeria through Strategic Empowerment” in Abuja. He added that stable power supply was the basis for creating more wealth, job opportunities and unprecedented economic growth. He noted that “unless and until the Nigerian state plays its required role as provided in the neo-liberal economic order of providing enabling environment, poverty reduction may remain a mirage. “Reforms can only be functional when states fulfill their stakeholder role.” Akoh stressed the need for increased political will on the part of leaders to improve opportunities and capabilities of the p...
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