Category: Newsroom

In a significant policy shift for Nigeria’s power sector, the federal government will no longer exclusively finance electricity subsidies starting in 2026. This change, announced by Tanimu Yakubu, Director-General of the Budget Office of the Federation, on February 2, 2026, in Abuja during a workshop on the 2026 federal budget preparation, follows a directive from […]

The Nigerian Ports Authority (NPA) and Abu Dhabi Ports Group are intensifying discussions to bolster Nigeria’s role as West Africa’s premier trade gateway. This follows the recent momentum from President Bola Ahmed Tinubu’s visit to the UAE, where both nations signed a landmark Comprehensive Economic Partnership Agreement (CEPA) during Abu Dhabi Sustainability Week in mid-January […]

Niger State has partnered with the Islamic Development Bank (IsDB) to launch the Niger Solar Electrification Project, a groundbreaking $163 million initiative set to deliver a 100 MW solar power facility—the first of its kind in Sub-Saharan Africa. Spanning 200 hectares, the project will harness the state’s abundant sunlight to generate clean, reliable electricity, providing […]

Shell PLC Chief Executive Wael Sawan has publicly commended President Bola Tinubu’s administration for fostering the stable and professional investment environment that has unlocked Shell’s major renewed commitment to Nigeria, including a potential landmark $20 billion investment in the Bonga South West deepwater project—the largest single energy FDI in Africa in decades. During a high-level […]

Africa’s immense natural gas resources, exceeding 550 trillion cubic feet of undeveloped reserves, remain largely untapped due to critical shortages in regional transportation infrastructure, according to the African Energy Chamber’s State of African Energy 2026 Outlook. The report highlights that, despite a projected 60% surge in gas demand across the continent by 2050, inadequate pipelines, […]

The African Energy Chamber (AEC) hails Libya’s robust resurgence in the energy sector as a defining moment for the continent. At the Libya Energy & Economic Summit (LEES) 2026 held in Tripoli, Libyan authorities demonstrated strong political commitment to restoring oil and gas output, attracting investment, and fostering a stable, investor-friendly environment. Libya’s oil production […]

The African Development Bank (AfDB) has approved a $150 million senior loan to advance the Coral North Floating Liquefied Natural Gas (FLNG) Project offshore Mozambique, marking a key milestone in the country’s energy sector expansion. Approved by the AfDB Board on 14 January 2026, the financing supports the development, construction, and operation of a second […]

InfraCredit, Nigeria’s leading ‘AAA’-rated infrastructure credit guarantee institution, has provided credit enhancement for a local currency debt issuance by First Electric Power and Automation Services Limited. This support comes through a co-financing arrangement with the UK-backed Climate Finance Blending Facility (CFBF), marking the facility’s sixth transaction and its inaugural investment in innovative mesh-grid clean energy […]

The Joint Task Force South-South, Operation Delta Safe (OPDS), has achieved significant successes over the past year in degrading crude oil theft, illegal refining, and sea robbery across the Niger Delta region. Rear Admiral Olugbenga Oladipo, Commander of OPDS, announced these accomplishments during a recent Defence Media Operations briefing and tour in Yenagoa, Bayelsa State. […]

AXIAN Energy, a prominent pan-African renewable energy developer, has obtained a grant of roughly $1 million (approximately €853,000) from the Norwegian Agency for Development Cooperation (Norad). Announced on January 20, 2026, this non-dilutive funding will support early-stage development activities for multiple renewable energy initiatives. The grant is targeted at accelerating project preparation and feasibility work […]