The African Energy Chamber (AEC) is reaffirming its commitment to Nigeria with a planned visit by AEC Executive Chairman NJ Ayuk on the 5th-10th July 2021. With the goal of supporting Nigeria in its efforts to pass the Petroleum Industry Bill, market the country as a premier investment destination, and promote African Energy Week (AEW) 2021 as the ideal networking platform for Nigerian oil and gas companies, Ayuk is prioritizing pan-African partnerships and continent-wide energy growth.
Committed to African-focused dialogue, Ayuk’s visit will comprise private meetings with both government representatives, National Oil Company leaders, and private sector executives. Additionally, the AEC will host a cocktail event for the Nigerian business community, prioritizing networking and partnerships as a form of prelude to AEW 2021.
“Nigeria represents a particularly lucrative market whereby investment and development should be directed. The AEC is a firm believer in partnerships and collaboration among Africa’s energy sector and is, therefore, reaffirming a commitment to Nigerian people and Nigerian energy,” stated Ayuk.
With over 187 trillion cubic feet of natural gas reserves, Nigeria has the potential to drive energy accessibility and security, boost job creation and industrialization, and spur socioeconomic growth across the entire region. In response to growing opportunities within the natural gas sector, Ayuk – accompanied by Florival Mucave, Executive Chairman of the Mozambique Oil and Gas Chamber – will be visiting various gas projects and developmental sites across the country. By focusing on productive dialogue regarding effective gas monetization and utilization, both Ayuk and Mucave aim to establish long-term partnerships with Nigerian companies and leaders in a bid to fast-track energy sector growth and poverty alleviation across the entire continent.
“With amazing talent and an exceptional skills set, and by fostering true partnerships with the right companies, Nigerian oil and gas companies can inspire other African companies in the energy sector to grow. It is through these partnerships where we will see increased energy independence and private sector growth across Africa,” continued Ayuk.
Throughout the visit, Ayuk will drive a discussion around the African energy transition, reaffirming the value of inclusivity and equity within Nigeria’s just transition. Recognizing the different economic realities both globally and across Africa, Ayuk is focused on collaborative dialogue with regards to Nigeria’s proposed strategies to achieve net-zero emissions by 2050.
Additionally, the visit will comprise key discussion topics such as African local content and intra-African trade – with particular focus on trade between African nations. Ayuk’s visit is intended to not only demonstrate the AEC’s ongoing support, but to help drive investment and development in one of Africa’s most esteemed oil and gas markets. By prioritizing private sector intra-African expansion, and motivating increased participation by Nigerian companies in the wider African energy market, Ayuk is emphasizing the role of the private sector in fast-tracking continent-wide energy success.
With the launch of AEW 2021 in Cape Town on the 9th-12th of November 2021, Ayuk is committed to uniting global investors with Nigerian oil and gas opportunities. By focusing on networking and partnerships, and presenting a platform whereby global stakeholders and industry leaders can make decisions regarding Africa’s energy future, AEW 2021 recognizes Nigeria’s role and significant contribution to Africa’s energy sector success.
Nigeria and Germany Ink $500 Million Agreements for Renewable Energy and Gas Exports
Sun Africa Commits $2.2 Billion to Transform Nigeria’s Power Sector
Sun Africa LLC, a global entity dedicated to supporting Africa’s energy needs, has announced a commitment of approximately $2.2 billion for the development of Nigeria’s power sector.
The pledge follows a meeting between the Minister of Power, Adebayo Adelabu, and representatives from Sun Africa, led by Chairman Goran Rajsic.
In the initial phase, the project will concentrate on delivering 961 MWp of solar PV infrastructure and 455 MWh of battery energy storage, marking a transformative venture valued at $2.2 billion.
This strategic collaboration aims to address Nigeria’s growing demand for new power infrastructure, aligning with the nation’s economic needs and transitioning toward sustainability.
Adelabu emphasized Nigeria’s significant requirement for new power infrastructure to support economic growth and sustainability.
The commitment from Sun Africa and its partners signifies a crucial step toward achieving Nigeria’s electricity goals.
Goran Rajsic expressed gratitude to the project partners, highlighting the support in designing a comprehensive solution featuring cutting-edge solar PV and battery storage technologies.
Sun Africa’s collaboration with Sterling & Wilson Renewable Energy Limited as its EPC partner represents a milestone in advancing sustainable and reliable energy solutions for Nigeria.
This initiative aligns with the nation’s commitment to driving positive change through innovative renewable energy solutions.
Niger Delta Power Holding Company Reveals N190bn Debt Owed by Government Entities
The Niger Delta Power Holding Company (NDPHC) has disclosed that the Central Bank of Nigeria (CBN), the Nigerian Bulk Electricity Trading Plc (NBET), and the Nigerian Electricity Liability Management Company owe a cumulative sum of N190 billion for electricity supply.
Chiedu Ugbo, the Managing Director and CEO of NDPHC, shared this information during a media briefing in Lagos.
Ugbo highlighted that the N190 billion debt has accumulated from 2015 to May 2023. While the exact amount owed by NBET wasn’t specified, Ugbo emphasized that the huge indebtedness to NDPHC runs into hundreds of billions, affecting the company’s operations and financial obligations.
He stated, “NDPHC is also not paid for availability but only as dispatched, thereby depriving NDPHC of hundreds of billions since 2015 when the Transitional Electricity Market was declared, and the government has so far been denied revenue as high as N3trn.”
Ugbo emphasized the challenging situation the debt has created, making it difficult for NDPHC to meet operational expenditures, pay gas suppliers, and maintain regular power generation.
To overcome these challenges, he called for urgent private capital mobilization and explored independent transmission projects, involving Gencos as investors.
Executive Director, Generation, Engr. Abdullahi Kassim, highlighted the ‘Light-up Nigeria Initiative,’ a program aimed at leveraging NDPHC’s generation assets to provide reliable power supply to eligible customers, distribution companies, and third-party project developers, ultimately achieving over 97% power distribution to the masses.
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