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Contracts have been awarded to build solar PV power plants at seven tertiary institutions under the Energising Education Programme (EEP)’s second phase. The EEP is a World Bank-funded programme aimed at improving energy access in tertiary institutions in Nigeria. Nine universities are slated to receive support in phase one.

Nigeria
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Glencore received the ‘highest ever fines and costs ordered in a British corporate criminal conviction’, the UK’s Serious Fraud Office said after a London court found the resources giant guilty of graft – in Cameroon, Côte d’Ivoire and Nigeria – and of ‘failures to prevent bribery’ in Equatorial Guinea and South Sudan in 2011-14. Chastened once more after its practises were reported in eye-watering legal detail, Glencore has embarked on “an extensive programme of corporate reform”.

Cameroon | South Sudan | Nigeria | Equatorial Guinea | Côte d'Ivoire
Free

The Korea Institute for the Advancement of Technology (KIAT) is to invest $12.4m in four solar PV mini-grid projects in Nigeria, under a deal signed with the Rural Electrification Agency (REA).

Nigeria
Subscriber

Moody’s Investors Service has downgraded its local and foreign currency long-term issuer ratings and foreign currency senior unsecured debt rating to B3 from B2 as financial and capital outflows exceed the current account surplus, further eroding foreign exchange reserves.

Nigeria
Free
Project bulletin

Canada’s Em-one Energy Solutions has been awarded a contract to construct the 3.1MW University of Abuja solar PV, diesel and battery plant.

Nigeria
Subscriber

Plans for the ambitious Nigeria-Morocco Gas Pipeline (NMGP) were given a boost in mid-October, when Mauritania and Senegal became the first two transit countries to sign memoranda of understanding (MoUs) for the 7,000km-plus project.

Nigeria | Morocco
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Project bulletin

Nigeria Bulk Electricity Trading has yet to finalise a power purchase agreement for the Okija gas-fired plant being developed by Century Power Generation and its generation licence has now expired.

Nigeria
Subscriber

Nigeria’s indigenous gas company has declared force majeure as floods disrupt virtually all of its feedgas supplies in the Niger Delta region. Nigeria Liquefied Natural Gas (NLNG) is currently reviewing the extent of the disruption with its suppliers. At least 30 states have been hit by severe flooding with several communities completely submerged.

Nigeria
Issue 470 - 17 October 2022

Some gas export schemes must fail

Subscriber

Europe’s hunger for non-Russian sources of natural gas has intensified diplomatic and commercial rivalries in the eastern Mediterranean, pushed ambitious schemes to the forefront, and raised the prospects of other African gas plays that were previously considered marginal. But it is not obvious that European governments or buyers are ready to plump for one favoured deal over the rest, meaning the gas could still go elsewhere.  

Egypt | Nigeria | Tanzania | Morocco
Subscriber

Nigerian National Petroleum Corporation (NNPC) has acquired OVH Energy Marketing (OVH), which operates the 380-strong Oando petrol station chain in Nigeria and Togo, for an undisclosed sum. The service stations will be rebranded under the NNPC brand by end-2023.

Nigeria
Free

Nigeria’s recently launched Energy Transition Plan aims to make Abuja’s target of net zero emissions by 2060 a reality, but the debt-for-climate deal proposed by Vice President Yemi Osinbajo could be even more important in relieving more immediate economic pressures – if creditors agree to provide the funds requested for a new deal that promotes gas as the key ‘transition fuel’.

Nigeria
Issue 470 - 12 October 2022

Empower raises $74m for C&I market

Subscriber

Norway’s Empower New Energy has raised $74m in equity from a consortium led by The Hague, Netherlands-based Climate Fund Managers (CFM).

Ghana | Egypt | Nigeria
Free

Husk Power Systems has commissioned six additional solar PV mini-grids in the Doma and Lafia areas of Nasarawa state.

Nigeria
Issue 470 - 12 October 2022

Geregu Power lists on Nigerian Exchange

Subscriber

Shares in Geregu Power started trading on the Nigerian Exchange (NGX) on 5 October, becoming the first electricity generating company (genco) to be listed on the bourse’s main board. The company joined the market via a direct listing, with 2.5bn shares priced at ₦100 each, valuing the company at ₦250bn ($569m).

Nigeria
Subscriber

Chronic power unreliability remains a blight in Nigeria – with half a dozen grid collapses so far this year – while the national grid remains woefully under-powered. Nigerians remain dependent on diesel and other back-ups, while big commercial and industrial (C&I) investments are being made by large private sector players. African Energy examines how the Dangote Group is becoming one of the country's major electricity generators.  

Nigeria