Power Sector And Other Related News Stories For Wednesday October 25th 2023
Nigeria Needs Substantial Gas to Meet Electricity Demand
Nigeria will need substantial additional gas, generation, transmission and distribution infrastructure to meet electricity demands, Nigeria’s Minister of Power, Adebayo Adelabu, has said.
Mr Adelabu disclosed this while speaking at the 2nd Domestic Gas and Gas Infrastructure Summit 2023 held in Abuja on Tuesday.
Nigeria has struggled with poor power supply for decades, a challenge that is estimated to cost businesses about $29 billion yearly, according to the World Bank.
The country has the lowest access to electricity globally, with about 92 million persons out of the country’s 200 million population lacking access to power, according to the Energy Progress Report 2022 released by Tracking SDG 7.
Power Minister Turns Up The Heat on Gas Infrastructure Investment
Adebayo Adelabu, minister of power, has said that Nigeria requires additional gas, generation, transmission and distribution infrastructure to meet local electricity demands.
The minister disclosed this at Tuesday’s 2nd Domestic Gas and Gas Infrastructure Summit 2023 held in Abuja.
According to him, Nigeria, with an increasing population growth, which is expected to reach 377 million in 2050, requires substantial gas infrastructure, adding that the much-needed capacity in generation will come from gas to power and renewable energy.
NGF, Stakeholders Deliberate on Sub-National Electricity Market Potentials
Nigeria Governors’ Forum (NGF) and the British High Commission have concluded plans to convene a Roundtable meeting on the sub-national electricity market to unlock the potential.
According to the Organisers, the Roundtable meeting with the theme: ‘The Electricity Act 2023: Implications and Opportunities for State Electricity Markets’, and scheduled for 25th and 26th October, 2023, will be funded by the Foreign Commonwealth Development Office (FCDO) and implemented by UKNIAF.
This two-day event is a High-Level Roundtable is expected to provide an opportunity for States to dialogue on potential pathways for accelerating energy access for their citizens as
States Move To Navigate Challenges In New Electricity Act
In a bid to navigate the challenges posed by the new Electricity Act 2023, states are taking proactive steps to identify strengths, weaknesses, opportunities, and threats within the new law.
The Nigeria Governors’ Forum (NGF) and the British High Commission are organising a roundtable with the theme “ Electricity Act 2023: Implications and Opportunities for State Electricity Markets’ in Abuja.
Recall that the Nigeria Electricity Act 2023 was signed into law on 9th June 2023 by President Bola Tinubu, de-monopolising Nigeria’s electricity sector.
Earlier in March 2023, former President Muhammadu Buhari had signed a constitutional amendment to
Power Supply Improved, but Challenges Persist At Nyikangbe Health Clinic
After years of enduring epileptic electricity supply, health workers at the Elizabeth Shaba Maternal and Child Health Clinic in Nyikangbe community, Chanchaga Local Government Area (LGA) of Niger State, said power supply has improved, making it possible for them to preserve vaccines for use in during the day. Established in 2008 by the Niger State Ministry of Health, a Nigeria Health Watch report in July 2022 noted that the facility had struggled with inadequate electricity, affecting vaccine storage, deliveries and other services. Recommendations for a solar system installation, however, remain unfulfilled.
Husk Power Raises $100M for African Minigrid
Husk Power, a startup building clean energy minigrids in India and Africa, has raised just over $100 million, including equity and debt.
Why it matters: Minigrids can bring clean electricity to the 3.5 billion people who lack access to reliable electricity, more efficiently and at a lower cost than a traditional centralized power grid.
Details: The Series D round raised $43 million in equity funding led by STOA Infra & Energy, the U.S. International Development Finance Corporation, and Proparco, as well as existing investors Shell Ventures, Swedfund and FMO.