Category: Newsroom

Strategic economic and energy sector reforms initiated by President Bola Ahmed Tinubu’s administration have successfully reversed a decade-long erosion of investor confidence in Nigeria, driving a dramatic surge in capital inflows and positioning the country as Africa’s premier destination for upstream oil and gas investment.  According to Nigeria’s Energy Sector Reforms 2023-2026: A Three-Year Review, […]

The African Development Bank (AfDB) has issued a call for proposals under its newly established Green Hydrogen Programme, offering up to $20 million in pre-investment financing to accelerate the development of green hydrogen and derivative projects across Africa. Managed through the Bank’s Sustainable Energy Fund for Africa (SEFA), the initiative targets private sector entities advancing […]

Africa’s richest man, Aliko Dangote, has declared his conglomerate’s decisive entry into large-scale power generation, announcing plans for a staggering 20,000 megawatts (MW) of capacity. The revelation came during a high-profile sit-down interview at the International Finance Corporation (IFC) headquarters in Washington, D.C., underscoring the Dangote Group’s pivot from its landmark refinery success into broader […]

In a decisive step toward strengthening industrial resilience and accelerating the clean energy transition, Eskom and South32 have announced advanced discussions on a groundbreaking long-term electricity solution for the iconic Hillside Aluminium Smelter, set to harness competitively priced renewable energy by 2031. The Hillside plant, the largest aluminium smelter in the southern hemisphere with an […]

In a development stirring cautious optimism across Nigeria’s oil and gas sector, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has commenced a thorough review of the freshly signed Memorandum of Understanding (MoU) between the Nigerian National Petroleum Company Limited (NNPC) and two Chinese firms aimed at finally restarting and expanding the […]

The Federal Government of Nigeria has remained resolute and declared her commitment to market-driven reforms, Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, has firmly ruled out any reintroduction of fuel subsidies or imposition of price controls, even as pump prices have surged by approximately 50% due to escalating global tensions. Speaking to […]

In a decisive move to break the cycle of prolonged underperformance and costly repairs at Nigeria’s key refineries, the Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two leading Chinese industrial players: Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd. The agreement, […]

In a landmark achievement underscoring its green energy ambitions, Ethiopia has more than doubled its installed electricity generation capacity over the past seven years, surging from 4,462 MW to 9,752 MW, according to the Ethiopian Electric Power (EEP). The East African nation now stands as one of the continent’s leading renewable energy hubs, with nearly […]

Nigeria is intensifying its push toward a sustainable energy future, with ambitious targets to eliminate routine gas flaring by 2030 and achieve net-zero emissions by 2060, even as its oil and gas sector experiences a profound shift driven by surging local participation and regulatory reforms. Oritsemeyiwa Eyesan, Chief Executive Officer of the Nigerian Upstream Petroleum […]

Nigeria has reaped a staggering N5.13 trillion oil revenue windfall in just two months, fuelled by a dramatic surge in global crude oil prices above $120 per barrel triggered by escalating US-Iran tensions. While this bonanza offers significant fiscal relief to the government, it has intensified economic pain for ordinary citizens through sharply higher petrol […]