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In a recent conversation, an independent power producer (IPP) told African Energy that its southern African utility client has been paying for its electricity “more or less on time”. The problem was those payments were being made in a local currency that cannot be exchanged as “the central bank has no money”. The IPP could turn to international arbitration to try and enforce its contract terms, “but what’s the use of that,” the executive asks, “when there’s nothing to be had?”

The Federal Government of Nigeria (FGN) has unconditionally withdrawn civil claims totalling $1.1bn against Italian major Eni that had been lodged in Italian courts, ending a long-running legal dispute centred on corruption allegations. In a statement to African Energy, Eni said it had received a letter confirming the withdrawal and said it was “the final step towards the truth”.

Lagos-headquartered Nigerian Breweries has signed a 15-year power purchase agreement (PPA) with local commercial and industrial (C&I) developer Daystar Power Group for a solar PV and battery plant at its Lagos brewery and head office.

Port Harcourt-headquartered First Independent Power Ltd (Fipl) has signed a long-term contract with the United States’ General Electric (GE) for the maintenance of the gas turbine at its Afam Phase I plant.

Nigeria has succeeded in overturning a $6.6bn arbitral award made against it in 2017, with the High Court in London ruling the award had been obtained by fraud. The High Court ruled that British Virgin Islands-registered Process and Industrial Development (P&ID) had engaged in “the most severe abuses of the arbitral process” in winning its 2017 case against the Nigerian government over a failed gas supply and processing deal.

Nigeria’s 650,000 b/d Dangote refinery appears to have missed its expected start date in October, reportedly due to crude supply issues. However, Nigeria’s downstream sector will receive another boost with the expected return to service of the 110,000 b/d Kaduna refinery in 2024, writes James Gavin.

US-based developer Husk Power Systems has secured funds from investors, which it will use to scale up its solar mini-grid developments in sub-Saharan Africa and South Asia. Husk – which was established in 2008 – claimed its new Series D funding was “the largest-ever equity raise in the mini-grid industry”.

The  Zungeru hydroelectric power plant has been commissioned, adding some 10% to Nigeria’s on-grid capacity. However, dispatching Zungeru’s full capacity will depend on the patchy transmission network.

Norwegian independent PetroNor is growing its footprint in Nigeria with an increased interest in the Aje field, although analysts expressed concern over the valuation of its equity increase.

Canada-headquartered WATT Renewable Corporation has secured $13m in funding from Oslo-based Empower New Energy. The funds will be used to solarise 225 telecoms towers across Nigeria, reducing diesel consumption in the sector

Empower New Energy has started construction of a 1MWp ground-mounted plant for Harvest Feed and Agro Processing in Ajura, Ogun State, Nigeria.

British American Tobacco Nigeria (BAT) has commissioned a solar PV plant at its Ibadan factory.

Nigeria’s Dangote refinery will receive its first crude cargo by the start of October and should be producing up to 370,000 b/d of diesel and jet fuel later that month, according to comments by group executive director Devakumar Edwin to S&P Global Commodity Insights published on 18 September.

President Bola Ahmed Tinubu has named Olayemi Cardoso to head the Central Bank of Nigeria (CBN). Cardoso was Lagos state’s economic planning and budget commissioner from 1999 until 2005, when Tinubu was governor. He is the latest member of that team to be appointed to high office. Cardaso fills the vacancy left by Godwin Emefiele’s suspension and arrest in June, as the ex-governor was closely linked to disastrous policies enacted by outgoing president Muhammadu Buhari’s government.

‘Last mile’ access software and hardware provider Okra Solar has secured fresh debt and equity in a series-A round of financing intended to scale up its mesh-grid technology for off-grid projects in Nigeria.