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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    Agribusiness Chamber demands resignation of Agric Minister over sector woes

    BoG Governor confident inflation has peaked; expects rate to start declining

    ActionAid Ghana Appoints John Nkaw as Country Director

    BoG’s inflation targeting framework can’t reduce rise in inflation – IEA

    Monetary Policy Rate must be increased to 19% to check inflation – IEA

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

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    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Fuel prices to rise marginally in second pricing window of May – IES

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

    President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

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Nigeria to add more than 500 megawatts to national grid

bycitibusinessnews
November 4, 2016
in Africa, Top Stories, West Africa
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Nigeria has signed agreements to add more than 500 megawatts of capacity to its national grid, the office of the vice president said on Thursday.

Africa’s most populous nation produces less than 4,000 megawatts (MW) but requires around 10 times that amount to guarantee power for its 180 million inhabitants.

Chronic power shortages have hindered the country’s development for decades and are one of the biggest constraints on investment and growth in Africa’s largest economy, which is in recession for the first time in more than 20 years.

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The vice president’s office said a number of agreements had been signed including ones with the World Bank and Niger Delta Power Holding Company (NDPHC).

“Vice President Yemi Osinbajo at the signing ceremony described the agreements as significant, enabling the consistent additional generation of more than 500 MW of electricity to the national grid,” said his spokesman Laolu Akande.

The vice president said the agreements would open up new opportunities for investments in Nigeria’s gas and power sectors.

He suggested that the West African country could potentially attract investment into the power sector.

Osinbajo’s office said Nigerian gas supplier Seven Energy was investing around $500 million in the construction of a gas processing facility at the Uquo Field in the southern state of Akwa Ibom.

And a Partial Risk Guarantee between the World Bank and NDPHC was signed to secure the supply of some 130 million cubic feet per day of gas to a power plant in the southern city of Calabar by Seven Energy.

The agreement covers private debt in the event of a government’s failure to meet specific obligations to a project.

–

Credit: CNBC Africa

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