In Berlin, Nigerian and German firms have solidified their economic partnership by signing two significant agreements, announced a presidential spokesperson. The deals encompass a substantial $500 million renewable energy pact and a gas export arrangement, marking a pivotal step in bolstering ties between the nations. Union Bank of Nigeria and Germany’s DWS Group sealed a Read More…
Renewable Energy
Sun Africa LLC pledges $2.2 billion for Nigeria’s power infrastructure
In a significant move, Sun Africa LLC, an international organisation, has pledged extensive support to bolster President Bola Tinubu’s administration by injecting $2.2 billion into critical power infrastructure development for Nigeria. The Minister of Power, Mr.Adebayo Adelabu, in a statement released in Abuja on Sunday by Mr. Bolaji Tunji, his Special Adviser for Strategic Communication Read More…
Renewable Energy Association of Nigeria secures $80 million for energy projects
The President of the Renewable Energy Association of Nigeria (REAN), Mr. Ayo Ademilua, has revealed that there are substantial funds amounting to approximately $80 million available for energy projects in Nigeria through various investors. Ademilua made this announcement during the Renewable Energy Investment Matchmaking event held in Lagos with the theme “Energising Partnerships: Connecting Investors Read More…
World Bank to Illuminate Nigeria’s Path to Renewable Energy: A Ray of Hope for 200 Million
In a promising endeavour to alleviate Nigeria’s chronic energy crisis, the World Bank has set its sights on funding the construction of 1,000 mini solar power grids in Africa’s largest economy. The ambitious initiative, carried out in collaboration with the Nigerian government and the private sector, seeks to bring light to millions of households and Read More…
Portugal to speed up switch from dependence on Nigerian gas in wake of Ukraine war
Unlike central European countries, Portugal does not depend on Russian natural gas pipelines, as it mainly imports liquefied natural gas from Nigeria and the United States, and has not imported Russian crude since 2020. But all this is about to be whittled down or stopped, as the Iberian country now aims to accelerate its energy Read More…