Africa’s largest economy is finally moving to resolve some of its most chronic failings, with another effort to privatise five power plants, huge multilateral support for the insolvent transmission and distribution sector, the planned implementation of the Petroleum Industry Bill and commitments to further reforms. Even so, African Energy’s research suggests the expected upturn will come nowhere close to meeting Nigeria’s needs in the period to 2025. Jon Marks* asks whether results can at least get closer to the promises of Nigeria’s electricity supply industry.
Issue 443 - 22 July 2021
Nigeria
Power, Politics, Gas, Renewables
The African Development Bank (AfDB) announced on 29 June that South Korea’s Ministry of Economy and Finance (MoEF) and the Export-Import Bank of Korea had signed an agreement to provide $600m to co-finance energy projects in Africa. It adds to the glut of funds targeting the African power sector, but oversupply of donor money – or undersupply of projects – is driving interest rates down and causing concern amongst financiers.
Issue 442 - 08 July 2021
Politics, Power, Finance, Renewables, Off-grid
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