The World Bank has approved a $750 million International Development Association credit for Nigeria’s Power Sector Recovery Operation. This was contained in a statement issued by the bank on Wednesday.
 
The statement quoted World Bank Country Director for Nigeria, Shubham Chaudhuri, as saying the credit would help to improve the electricity supply in Nigeria. It expressed worry that about 47 percent of Nigerians have no access to grid electricity and those who had access, faced regular power cuts…
 
More details through
https://punchng.com/world-bank-okays-750m-for-nigerias-power-sector/

Lumos, Nigeria, Africa's leading provider of high-quality solar home systems, has commended the Nigerian Presidency on its plan to install five (5) million Solar Home System to serve 25 million households currently unconnected to the National Grid across the country.
 
The report by the Economic Sustainability Committee (ESC), chaired by Vice President Yemi Osinbajo which was presented to President Muhammadu Buhari in Abuja has projected that unemployment rate which was 23.1% (or 20.9m people) at the end of 2018 is expected to rise to 33.6% (or 39.4 million people) at the end of 2020, if urgent steps are not taken.
 
In response to this, Adepeju Adebajo, CEO, Lumos Nigeria said, "the Government's plan to invest in 5 million solar-home systems across Nigeria, is an important development. Energy is a core pillar of economic growth and will be a strong catalyst to sustainable economic recovery, post-COVID-19. Lumos is the market leader in affordable solar home systems, providing access to power to homes, micro and small businesses nationwide, and we understand the impact of power on the quality of life and livelihoods. We applaud this important initiative and will work with the Nigerian Government to make it a reality…
 
More details through:
https://guardian.ng/business-services/lumos-nigeria-lauds-plan-to-provide-5-million-solar-home-systems-to-bridge-energy-deficit/
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Nigerians consumed $509.63 million (N193.66 billion) worth of electricity in just four months of September, October, November, and December 2019.
 
The power industry regulator, Nigerian Electricity Regulatory Commission (NERC), which declared this in a document sighted by New Telegraph at the weekend, maintained that the power consumption pattern was reflected in the total invoice of N193.66billion issued to 11 distribution companies for energy received from the Nigeria Bulk Electricity Trading Company (NBET).
 
It added, however, that though the N193.66 billion invoices were issued in the fourth quarter of 2019, the 11 electricity distribution companies (DisCos) failed to remit N119.46 billion out of the money to the market operator (MO).
 
NERC, in its report on the quarter under review, said: "But only a total of N74.20 billion (i.e., 38.32 percent) of the invoice was settled as and when due, creating a total deficit of N119.46 billion including tariff shortfall…
 
More details through:
https://newtelegraphng.com/nigerians-consume-n193-66bn-worth-of-electricity-in-4-months/
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THE Nigerian Electricity Regulatory Commission (NERC) is set to generate a minimum of 2,000MW of electricity from renewables this year. In a report on its website, the agency assured of the guaranteed price and access to the grid as well as a feed-in tariff for solar, wind, biomass, and small hydro.
 
Apart from the Power Purchase Agreement (PPA) based on the plant life cycle of 20 years, electricity distribution companies (DisCos) are mandated to procure a minimum of 1000MW, representing 50 percent of the projected renewable sourced electricity.
 
NERC has also approved, in line with the National Policy on Renewable Energy and Energy Efficiency, three windows for grid-connected renewable energy projects, such as net-metering for very small capacity (typically below 1MW), the feed-in tariff for capacities up to  5MW of solar, 10MW of wind, 10MW of biomass and 30MW of small hydro…
 
More details through:
https://thenationonlineng.net/renewable-energy-nerc-targets-2000mw/

Nigeria and Israel are to sign a bilateral agreement in the area of methanol fuel production technology. A statement by the Federal Ministry of Science and Technology in Abuja on Monday said the preliminary agreement was struck when the Israeli Ambassador to Nigeria, Shimon Shoshan, paid a courtesy visit to the FMST.
 
The Minister of Science and Technology, Ogbonnaya Onu, said Nigeria was determined to explore and develop the methanol chemical fuel technology as it was key to the economic diversification drive of the country.
 
Onu stated that for Nigeria to become the manufacturing hub of Africa, it must utilise all its natural resources and add value to them so as to create wealth and employment…
 
More details through:
https://punchng.com/nigeria-israel-to-sign-methanol-fuel-production-agreement/

The Nigerian National Petroleum Corporation on Thursday said it was firming up its business portfolios in the power, medical, housing, and other sectors in order to strengthen its profitability.
 
NNPC’s Group General Manager, Group Public Affairs Division, Kennie Obateru, quoted the corporation’s Chief Operating Officer, Ventures and Business Development, Roland Ewubare, as saying that the Ajaokuta-Kaduna-Kano pipeline network would enable the NNPC to deepen its footprint in the power sector through the establishment of an independent power plant.

​Ewubare said the NNPC would use its network of medical centres across the country to provide healthcare for Nigerians. He said, “The NNPC is creating an energy company that would have portfolios in renewable energy; we have initiatives on solar that are ongoing. We have got biofuels agreements with some state governments that would soon be activated…
 
More details through:
https://punchng.com/nnpc-invests-in-power-medical-housing-sectors/

The Federal Government, through its Rural Electrification Agency, has inaugurated two solar hybrid mini-grids in the villages of Akipelai and Oloibiri, Bayelsa State.
 
 It put the total capacity of the grids at 134.64 kilowatts for both communities, adding that the two projects were executed under the Nigeria Electrification Project.
 
 "These two systems include 134.64kW of solar PV, 180kWh of lithium battery storage, and two units of 100kva diesel generator sets," the REA said in a statement…
 
More details through:
https://punchng.com/fg-lights-up-bayelsa-villages-with-solar-mini-grids/
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With a vast and mostly untapped potential in renewable energy resources, the Nigerian Electricity Regulatory Commission (NERC) has set a target to generate a minimum of 2,000MW of electricity from renewables this year.
 
According to a report obtained from the commission’s website, the agency assured guaranteed price and access to grid as well as
 
Feed-in tariff for solar, wind, biomass and small hydro.
 
Apart from the Power Purchase Agreement (PPA) based on the plant life cycle of 20 years, electricity distribution companies (DisCos) are mandated to procure a minimum of 1000MW (50 percent of the total projected renewable sourced electricity…
 
More details through:
https://www.sunnewsonline.com/nerc-sets-target-to-generate-2000mw-via-renewable-energy/
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President Muhammadu Buhari has approved the release of funding to begin the first part of Phase 1 of the Siemens Presidential Power Initiative (PPI). A statement by the Presidency on its Twitter handle said the funding would be to kick-off the pre-engineering and concession financing workstreams.
 
Buhari also directed that the federal government engage the International Finance Corporation (IFC) to assist in developing the commercial structure of the intervention and that it should execute an independent valuation of the Distribution Companies (DisCos).
 
He also directed that Siemens AG shall be solely responsible for nominating its Engineering, Procurement, and Construction (EPC) partners for the project, without the involvement of middlemen.
 
More details through:
https://www.dailytrust.com.ng/buhari-approves-funding-for-25000mw-siemens-power-project.html

Nigeria is finally on the verge of unlocking huge economic benefits arising from its natural gas endowment. For many years, the country had been hindered by the absence of gas transmission pipelines in her bid to harness its abundant gas reserves for the provision of gas to generate electricity, and stimulate rapid industrialization using gas as feedstock for fertilisers, ammonia, and other petrochemical applications.
 
The commencement of the Nigerian National Petroleum Corporation (NNPC)-sponsored Ajaokuta–Kaduna–Kano (AKK) gas pipeline project by leading indigenous EPC giant – Oilserv Limited is the cause for this renewed optimism.
 
Oilserv has been awarded the engineering, procurement, construction, installation, testing, and commissioning of the first segment of the 614 km x 40-Inch Gas pipeline, which is from Ajaokuta to mid-way between Abuja and Kaduna. The second segment has been awarded to another company…
 
More details through:
https://www.sunnewsonline.com/akk-gas-pipeline-project-springboard-for-nigerias-industralisation/
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