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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Nigeria’s transmission network requires N1.8tr five-year funding, The Federal Government has said that Nigeria’s power sector required an investment of $5billion (N1.8 trillion) in the next five years to solve transmission challenges. The government, which made this known in a document titled: “Investment Opportunities in Nigeria’s Power Sector,” obtained by The Guardian on Monday, stated that the national grid, which comprises of 330kV and 132kV networks currently, has a wheeling capability of 5,300 megawatts (MW) against 6,600MW installed capacity under constrained loading conditions. According to the document, the network lacks adequate redundancy, which creates instability and frequent outages. The report said due to paucity of funding through the Federal Government Budgetary allocations, the sector is seeking different models of financing such as contractor finance of new transmission projects, Rehabilitate Operate and Transfer (ROT); and Management Contract....
Renewable Energy And Nigeria’s Place In The Scheme Of Things Nigeria through its minister of power, works and housing, Babatunde Fashola, on Monday announced the commencement of the first solar power project in Nigeria, the 1.2megawatts solar power plant in the lower Usuma Dam, Bwari, Abuja. The pronouncement is coming at a time when the world is gone very far in the development of renewable energy. FESTUS OKOROMADU, in this report unveils the need to drive this initiative further. The pronouncement of the chief executive officer (CEO) of Royal Dutch Shell, Mr Ben Van Beurden, on the company’s plan to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electricity cars accelerates. Van Beurden’s speech brought to the fore, the transformation already taking place in the renewable energy subsector in the industrialised world while Nigeria is still yet to provide electricity for its teeming population. There is ...
Nigeria Gas Flaring Declined In 2016, Says W/Bank Nigeria’s gas flaring declined by about 15 percent last year, according to the latest data from both the Federal Government and World Bank. The data indicated that flaring declined less sharply t h a n Nig e r i a’s o i l production, which suggests there’s a risk that flaring might rise if oil output recovers and stabilises. Th e data from the Ministry of Petroleum Resources said that 771mn ft3/d – or 18 percent of the country’s 4.33bn ft3/d associated gas produced at 215 oilfields – was routinely flared in 2016. Accordingly, that equates to a 2016 flaring total of 281.4bn ft³ (8bn m³), which is 15 percent less than the 330bn ft³ flared in 2015, according to the ministry. Also, the World Bank data, release last week, based on satellite imaging rather than metering on the ground, also show a reduction in Nigeria’s flaring: to 7.315bn m³ in 2016 – even lower than the ministry’s fi gure – down 4.4 percent from 7.658bn m³ in 20...
Eni affirms commitment to zero gas flaring Culled from Punch A global energy provider, Eni, has said it is committed to achieving zero gas flaring in Nigeria and other African countries where it operates by 2025. A statement on Wednesday said a delegation from the Italian oil major to the World Bank underlined alignment with the World Bank’s access to energy and gas flaring reduction objectives for Africa. It said the delegation, headed by the Chief Financial Officer, Eni, Massimo Mondazzi, gave a presentation to the World Bank that reinforced the group’s continued commitment to sustainable growth. Speaking at the World Bank’s headquarters in Washington, Mondazzi underlined Eni’s resilience in the current economic environment, and spoke of the company’s efforts to allow a wider access to energy in the sub-Saharan region of Africa. According to the statement, one of Eni’s key strategies for the region is the World Bank’s Global Gas Flaring Reduction Partn...
Nigeria Government okays gas master plan to boost industrial growth Cu Moves to unveil a new gas master plan to drive Nigeria’s industrial growth is underway, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said. The minister, who disclosed this in Abuja yesterday while speaking at the fifth triennial national delegates’ conference of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), said that the Federal Executive Council (FEC) approved the masterplan after its meeting yesterday following his presentation. His words: “I am just coming back from the Federal Executive Council (FEC) meeting where I made a presentation on gas policy and the document was approved today. We need major changes in policy to make gas a hub of our economy. We must have a stream of earning between petroleum and gas in order to see an improvement in our economy or see the opportunities we are supposed to reap from the oil and gas sector. So, a...
FG insists 10,000MW still achievable by 2019 The Federal Government, through the Minister of Power, Works and Housing, Mr Babatunde Fashola, has insisted that the Nigerian government’s target of providing 10,000MW of electricity by 2019 is still achievable. According to a statement by the power ministry, Mr Fashola added that the target could still be realised in spite of the current challenges facing the power sector. The minister added that all the measures put in place in the Power Sector Recovery Programme by the present administration were geared towards actualising government’s objective of achieving incremental, steady and uninterrupted power supply to Nigerians. While recalling that the amount of power available on the grid on May 29, 2015, the day President Muhammadu Buhari took office, was 2,690MW, the minister pointed out that on May 29, 2017, the power on the grid was 4,014MW. He explained further that on February 10, 2016, for the first tim...