Power Sector And Other Related News Stories For Thursday November 23rd 2023
‘Nigeria’s 7,000MW Electricity Can’t Drive Prosperous Economy’
The director general of Nigerian Textile Garment and Tailoring Employers, Dr. Hamma Kwajafa has identified poor infrastructure as the bane of Nigeria’s economic development, saying that the country’s drive for foreign investments cannot succeed without critical infrastructure like power in place.
Kwajafa who stated this in Kaduna while addressing the 35th Annual National Education Conference of National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN), said South Africa’s economy is doing better than Nigeria’s because of electricity.
Electricity Subsidy: Tinubu Sensitive to Masses’ Plight – APC Chieftain
A Chieftain of the All Progressives Congress (APC) in Osun State and former lawmaker, Hon. Olatunbosun Oyintiloye, has said that the directive of President Bola Tinubu, on the stoppage of the implementation of the hike of electricity tariff is commendable.
Oyintiloye, while speaking with newsmen in Osogbo, Wednesday, said that the directive was a true reflection that the president was sensitive to the plights of the masses.
The minister of power, Adebayo Adelabu, had on November 8 revealed that President Tinubu recently stopped the implementation of a hike in electricity tariff and insisted that subsidy be paid on power consumed nationwide.
Nigeria’s Electricity Outlook: Significant Improvement Projected by 2024
Nigeria’s Minister of Foreign Affairs, Amb Maitama Tuggar, has forecasted a significant improvement in the country’s electricity supply by the first half of 2024. In an interview on Channels Television’s Politics Today, Tuggar underscored the ongoing AKK project (Ajaokuta-Abuja-Kaduna-Kano) as a pivotal factor in the anticipated upturn. He also addressed the Siemens gas deal between Nigeria and Germany, set to continue under President Bola Tinubu’s administration.
Gas Export and Domestic Needs
Tuggar emphasized the export of gas to Germany would not compromise domestic gas needs in Nigeria. He elaborated that the revenue from exports will be invested in enhancing electricity and gas distribution, catering to domestic needs. This approach counters the concerns arising from former President Muhammadu Buhari’s unfulfilled promise in 2018 to increase Nigeria’s electricity capacity from 4,000 megawatts to 25,000 MW by 2025 under the Presidential Power Initiative.
Firms Empower 3,000 Retailers in Oyo State With Solar Lamps
Nigeria’s leading B2B e-commerce and financial services platform, Alerzo, in collaboration with a global leader in digital automation and sustainability, Schneider Electric, has empowered 3,000 women in the retail sector in Oyo State with Mobiya solar lamps through the light up initiative.
Chief Executive Officer (CEO) of Alerzo, Adewale Opaleye, who spoke on the initiative, stressed the need to deliver sustainable and profitable support to micro-businesses.
He stated: “Our mission has always been to digitise and empower retailers across Nigeria.
Access Bank, ASolar Launch Green Energy Solution for SMEs
Access Bank Plc, in partnership with ASolar Systems Nigeria, has launched green energy products to support small-scale businesses facing power supply challenges across the country.
The partnering organisations launched the products which include solar-powered TV sets, air conditioners, and PoS machines, among many others, on Tuesday at the Garki branch of the Access Bank in Abuja.
Speaking at the launch event tagged “Light Up Your Community”, Access Bank Deputy Managing Director, Victor Etuokwu, noted the challenges faced by small and medium enterprises regarding power supply.
FG Launches Mini-Grids System Control Centre in Abuja
The federal government through the Rural Electrification Agency (REA) yesterday inaugurated an Energy Management System (EMS) control centre capable of hosting all mini-grids in the country.
Carrying out the official launch of the project at its corporate headquarters in Abuja, the REA disclosed that it will also today (Thursday) conduct the ground-breaking of a 900kWp solar mini-grid in Rubochi, Kuje council, as well as a 100kWp at Ikwa Ward, Gwagwalada as part of the phase I of the Korean Energy Project (KEP).
Describing it as a significant milestone, the agency stated that it was a testament to its efforts aimed at strengthening bilateral cooperation with foreign development partners such as the Korean Institute for Advancement of Technology (KIAT) and its Korean implementing consortium partners.
UGEAP, Union Bank Partners to Propel Renewable Energy Market in Nigeria
Luxembourg based Universal Green Energy Access Programme (UGEAP), and Union Bank of Nigeria have formalised basis for a strategic partnership to catalyse development of the renewable energy market in Nigeria.
This collaboration, marked initially by a Memorandum of Understanding (MoU), aims to drive sustainable energy access for households and small and medium businesses across Sub-Saharan Africa, primarily focusing on Nigeria.
UGEAP, a 15-year blended finance facility, is dedicated to supporting the transition to sustainable energy.
The United Nations Green Climate Fund (GCF) has committed the anchor investment to UGEAP, with DWS Investment S.A. as the Investment Manager.