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Lagos-headquartered Rensource plans to launch a Series B funding round in the near future, aiming to raise $12m by end-year, which it will use to advance its 70MW commercial and industrial project pipeline, chief executive Prince Ojeabulu told African Energy.

Nigeria
Free

Legal protests are under way, but in all likelihood president-elect Bola Ahmed Tinubu will take over the Aso Rock Presidential Villa following their inauguration, scheduled for 29 May.

Nigeria
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A new administration is coming to Abuja, with some familiar faces and the same old daunting problems to fix. An uncomfortably small proportion of Nigeria’s 220m-plus population voted in an election that could have a big impact, but only if Bola Tinubu surprises his detractors by driving forward with a diverse package of reforms and reconciliation measures that have defied previous governments, writes Jon Marks.

Nigeria
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In the run up to elections, president-elect Bola Ahmed Tinubu sought to burnish his pro-business credentials by offering everything from taking Nigerian National Petroleum Corporation Ltd (NNPCL) beyond corporatisation to privatisation, to cutting fuel subsidies in reforms that would bring greater coherence to public finances.

Nigeria
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Nigeria’s National Council on Privatisation (NCP) has named the local Mainstream Energy Solutions Ltd (MESL) as preferred bidder for two hydroelectric power (HEP) plant concessions. African Energy understands that negotiations are expected to start soon to finalise terms between the Bureau of Public Enterprises (BPE) and MESL.

Nigeria
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A Lagos court ruling against the leadership of ambitious independent oil and gas company Seplat could reinforce concerns that, even with an apparently pro-business president-elect, Nigeria may not prove an easy market for international oil companies.

Nigeria
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Data trend

West Africa’s total installed generation capacity could reach 43GW by 2027 from 31GW at end-2021, according to African Energy Live Data’s latest analysis, with thermal, hydropower and other renewable projects lining up. But many of these capacity additions are planned for Nigeria, where results may be patchy, as it is already hard to dispatch power from existing plants to an inadequate grid.

Ghana | Nigeria | Guinea | Senegal | Mali | Côte d'Ivoire
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African Export-Import Bank (Afreximbank)’s impact development arm the Fund for Export Development in Africa (Feda) has concluded the purchase of 5% of Lagos-based electricity generator Geregu Power. The deal is the latest example of how the Cairo-based trade bank has morphed from being a staid institution devoted to trade finance in Africa to a much more punchy outfit.

Nigeria
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Cautious hopes have been dashed that a wave of interest from younger generation and independent-minded urban voters would prompt a sea change in Nigerian politics as the favourite Bola Tinubu, representing the incumbent All Progressives Congress (APC), was declared winner in the 24 February presidential election with 37% of the official vote.

Nigeria
Free

The International Monetary Fund (IMF)’s latest World Economic Outlook (WEO) Update, issued at the end of January, underlines China’s importance both globally and for an African continent where it has made considerable efforts to build political relations and infrastructure, in order to secure resources vital to its domestic growth.

Angola | Nigeria | South Africa
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Nigeria’s industry regulator is leading another effort to sell marginal oil and gas blocks – the first under the Petroleum Industry Act. As Abuja looks for new impetus in its hydrocarbons industry, African Energy has updated its maps.

Nigeria
Issue 476 - 15 January 2023

Nigeria: Tiga HEP set for commissioning

Free
Project bulletin

The Kano state government has announced the completion of construction work at the Tiga hydroelectric power (HEP) project following years of delays.

Nigeria
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Off-grid liquid generation remains a costly default option for retail customers in countries with unreliable grids. Half-a-dozen grid collapses this year in Nigeria have demonstrated how unreliable and underpowered the grid is, with diesel and other small genset backups estimated to comprise as much as 12GW of off-grid liquid capacity.

Nigeria | Zimbabwe
Free

A realignment of global alliances is ever more apparent as the first anniversary of Russia’s attempted conquest of Ukraine approaches and global power and wealth seem to concentrate in ever fewer hands. This has been seen in the solidarity among members of the Opec+ oil exporters’ alliance, in which long western-aligned Saudi Arabia and President Vladimir Putin’s Russia remain the driving forces.

Mozambique | Nigeria | Libya | Burkina Faso | South Africa | Mali
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Although some of Nigeria’s insecurity is intersecting, analysts frequently highlight four particular areas of chronic conflict.

Nigeria