Connect with us

Markets

Explorer Driving Electric Nissan car Across Africa Arrives in Nigeria

Published

on

Nissan
  • Explorer Driving Electric Nissan car Across Africa Arrives in Nigeria

The fear that Nigeria and many African countries may not be ripe for electric cars may soon vanish with the arrival in Nigeria of a Polish explorer, Arkady Pawel Fiedler, driving Nissan Leaf, considered the world’s most popular electric vehicle, across the continent.

Fiedler, who inaugurated the first electric vehicle expedition in February this year with Nissan Leaf car travelling from Cape Town, South Africa via West Africa to Europe by road, said in Lagos on Tuesday that he embarked on the trip with the hope of encouraging people to take to electric vehicles.

His concern is the pollution emanating from vehicles using diesel and petrol engines.

Fiedler drove alongside his companion, Albert Wojtowicz, an architect cum photographer, in an entirely first generation electric Nissan Leaf car powered by a 30kwh battery with a range of 250 kilometres in a period of two months, covering 8,000 kilometres.

He said, apart from being the first ever electric vehicle expedition across the African continent, the trip aimed to build awareness for electric mobility and new cleaner technologies in Africa, Poland and the world at large.

“Care of the environment, our home and family starts with us with our subjective decisions. This journey is a proof that something apparently impossible can be achieved when given appropriate attitude and determination,” he said.

Although he said there were a number of challenges encountered during the trip including locating convenient charging points and crossing some flooded routes, they did not in any way diminish the unique experience, the excitement of the voyage and warm reception received from virtually everywhere they had to spot over.

Fiedler, who also stressed that the idea of the journey was independently conceived and executed, said the choice of the electric Nissan Leaf model was based on a number of factors including the number of units sold.

According to him, besides being the world’s first 100-per cent electric, zero-emission car designed for the mass market, its advanced powertrain provides a totally new driving experience, with smooth, responsive acceleration with stable handling and quietness.

Fiedler described Africans as warm and hospitable and stressed that they would embrace electric mobility, the new auto technological transformation sweeping through Europe and America.

He said the electric vehicle usage could start with Lagos with about 10,000 vehicles and the installation of some quick charging points within the city centres.

The Head of Sales and Marketing, Stallion NMN, Amit Sharma, who received the explorers in Lagos, said, “We are proud of this initiative, being the first ever electric vehicle expedition across Africa, and as you all are aware, the Nissan tagline ‘Innovation that Excites’ has always kept the brand going – scoring so many firsts in its entire outings.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Continue Reading
Comments

Crude Oil

Oil Prices Rebound on OPEC+ Output Delay Talks and U.S. Inventory Drop

Published

on

Crude oil - Investors King

Oil prices made a modest recovery on Thursday on the expectations that OPEC+ may delay planned production increases and the drop in U.S. crude inventories.

Brent crude oil, against which Nigerian oil is priced, rose by 66 cents, or 0.9% to $73.36 per barrel while U.S. West Texas Intermediate (WTI) crude appreciated by 64 cents or 0.9% to $69.84 per barrel.

The rebound in oil prices was a result of the American Petroleum Institute (API) report that revealed that the U.S. crude oil inventories had fallen by a surprising 7.431 million barrels last week, against analysts 1 million barrel decline projection.

The decline signals better than projected demand for the commodity in the United States of America and offers some relief for traders on global demand.

John Evans, an analyst at PVM Oil Associates, attributed the rebound in crude oil prices to the API report.

He said, “There is a pause of breath and light reprieve for oil prices.”

Also, discussions within the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, are fueling speculation about a potential delay in planned output increases.

The group was initially expected to increase production by 180,000 a day in October 2024.

However, concerns over softening demand in China and potential developments in Libya’s oil production have prompted the group to reconsider its strategy.

Despite the recent rebound, analysts caution that lingering uncertainties around global oil demand may continue to weigh on prices in the near term.

Continue Reading

Energy

Power Generation Surges to 5,313 MW, But Distribution Issues Persist

Published

on

power project

Nigeria’s power generation continues to get better under the leadership of President Bola Ahmed Tinubu.

According to the latest statement released by Bolaji Tunji, the media aide to the Minister of Power, Adebayo Adelabu, power generation surged to a three-year high of 5,313 megawatts (MW).

“The national grid on Monday hit a record high of 5,313MW, a record high in the last three years,” the statement disclosed.

Reacting to this, the Minister of Power, Adebayo Adelabu, called on power distribution companies to take more energy to prevent grid collapse as the grid’s frequency drops when power is produced and not picked by the Discos.

He added that efforts would be made to encourage industries to purchase bulk energy.

However, a top official of one of the Discos was quoted as saying that the power companies were finding it difficult to pick the extra energy produced by generation companies because they were not happy with the tariff on other bands apart from Band A.

“As it is now, we are operating at a loss. Yes, they supply more power but this problem could be solved with improved tariff for the other bands and more meter penetration to recover the cost,” the Disco official, who pleaded not to be named due to lack of authorisation to speak on the matter, said.

On Saturday, the ministry said power generation that peaked at 5,170MW was ramped down by 1,400MW due to Discos’ energy rejection.

Continue Reading

Crude Oil

Again NNPC Raises Petrol Price to N897/litre

Published

on

Petrol - Investors King

The Nigerian National Petroleum Company (NNPC) Limited has once again increased the price of Premium Motor Spirit (PMS) from N855 per litre on Tuesday to N897 on Wednesday.

The increase was after Aliko Dangote, the Chairman of Dangote Refinery, announced the commencement of petrol production at its refinery.

The continuous increase in pump prices has raised concerns among Nigerians despite the initial excitement from the refinery announcement.

According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the 650,000 barrels per day refinery will supply 25 million litres of petrol to the Nigerian market daily this September.

This, NMDPRA said will increase to 30 million litres per day in October.

However, the promise of increased fuel supply has not yet eased the situation on the ground.

Tunde Ayeni, a commercial bus driver at an NNPC station in Ikoyi, said “I have been in the queue since 6 a.m. waiting for them to start selling, but we just realised that the pump price has been changed to N897. This is terrible, and yet they still haven’t started selling the product.”

The price hike comes as NNPC continues to struggle with sustaining regular fuel supply.

On Sunday, the company warned that its ability to maintain steady distribution across the country was under threat due to financial strain.

NNPC cited rising supply costs as the cause of its difficulties in keeping up with demand.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending