Tariff increase will push available power generation to 7,000MW — Minister: Following a record peak electricity generation of 5,801.84 Megawatts achieved last week, the Minister of Power, Chief Adebayo Adelabu, has said that the proposed tariff increase will push available generation capacity to about 7,000MW.
Nigeria, UN Agency Target $500m in Distributed Renewable Energy Fund: Nigeria and a United Nations-backed agency, Sustainable Energy For All organisation, known as SEforALL, have set a $500 million target for a fund to finance the roll out of so-called distributed renewable energy, such as solar home systems and mini-grids.
Ogun Approves Reconstruction of Additional 11 Roads: The Ogun State Government has approved 11 roads, spread across the three senatorial districts in the state, for reconstruction.
Katsina Govt Mandates Green Procurement Obligation on Infrastructure Projects: Katsina State Government has become the pioneer in Nigeria to mandate Green Procurement Obligation on contracts for physical infrastructure projects across the state.
Ibaragun Mini-Grid Project Brings Reliable, Clean Energy to Thousands: In a groundbreaking ceremony, Darway Coast, in partnership with All On and the Global Energy Alliance for People and Planet (GEAPP), has officially launched the Ibaragun mini-grid project, revolutionising energy access for the rural community in Ogun State.
REA Boosts Off-grid Power Supply, Inaugurates 440kWp Mini-grid in C’River: The Rural Electrification Agency (REA) yesterday commissioned a 440kWp interconnected mini-grid in Etomi, Agbokim, Abia, and Bendeghe communities, Etung Local Government Area, Cross River State, in a bid to boost the country’s off-grid electricity supply.
FG eyes 10,000MW power transmission capacity: The Federal Government has announced plans to increase its power transmission capacity from 8,500 megawatts to 10,000MW by 2026 to enhance electricity supply and grid efficiency across the country.
Cross River approves state-owned electricity policy document: The Cross River State Executive Council, at an emergency meeting on Thursday, approved a presentation from Governor Bassey Otu for a state-owned electricity policy document.
Natural gas supply to NLNG reduces by 80% – Report: The operational crisis at NLNG Limited continues to deepen as the outage at its Bonny Island facility drags on, with natural gas supplies plummeting by a staggering 80 per cent, a new report by Bloomberg has stated.
GCR assigns a final Issue rating of AAA(NG) to GLNG Funding SPV Plc’s NGN11.85 billion Series 2 Senior Guaranteed Fixed Rate Infrastructure Bonds; Outlook Stable: GCR Ratings (GCR) has assigned a final national scale long-term Issue rating of AAA(NG) to GLNG Funding SPV Plc’s NGN11.85 billion Series 2 Senior Guaranteed Fixed Rate Infrastructure Bonds, with the Outlook accorded as Stable. Rated Issue Rating class Rating scale Rating Outlook NGN11.85 billion Series 2 Senior Guaranteed Fixed…
GCR assigns AVA Global Asset Managers Limited a Management Quality Rating of MQ2(NG) and a Nigerian Management Quality Rating of A(NG)(mq): GCR Ratings (GCR) has assigned AVA Global Asset Managers Limited (AVA GAM or the asset manager) a management quality rating of MQ2(NG) and a Nigerian Management Quality Rating of A(NG)(mq). Rated Entity Rating class Rating scale Rating AVA Global Asset Managers Limited Management Quality Rating National MQ2(NG) Nigerian Management Quality…
GCR affirms Paras Energy and Natural Resources Development Limited’s national scale long-term issuer rating of BBB+(NG), Outlook Stable: GCR Ratings (GCR) has affirmed Paras Energy and Natural Resources Development Limited’s national scale long and short term issuer ratings of BBB+(NG) and A2(NG) respectively, with the outlook accorded as stable. Rated entity Rating class Rating scale Rating Outlook Paras Energy and Natural Resources Development Limited Long term issuer National…
CBN January 2025 Data Shows A Fall in Private Sector Credit Expansion: Recent Central Bank of Nigeria (CBN) data on money and credit shows that private sector credit extension (PSCE) fell by -2% year-on-year (YoY) to N74.9trn as of January 2025.
OMO stop rates drop again as CBN’s latest auction sees N1.88 trillion in subscriptions: The Central Bank of Nigeria (CBN) conducted an Open Market Operations (OMO) auction on March 6, 2025, attracting N1.88 trillion in total subscriptions—more than three times the N600 billion initially offered.
AfDB plans $230 million trade finance package for Access Bank Nigeria: The African Development Bank (AfDB) is planning a $230 million trade finance package for Access Bank Plc, aimed at supporting trade finance activities and providing foreign exchange liquidity to small and medium-sized enterprises (SMEs) in Nigeria.
