Energy
Renewable energy critical driver of post-COVID-19 recovery
A Renewable energy will be a critical driver of Africa’s post- COVID-19 growth recovery and economic prosperity, panelists at this year’s ‘United Kingdom (UK) Africa Investment Summit’ said. They called for a stronger partnership between the UK and Africa.
The panel, themed ‘UK & Africa: Partnering in Sustainable and Resilient Infrastructure Development, covered discussion of British innovation and experience in the context of partnering Africa to advance its economic development.
The UK Africa Investment Summit, hosted by the UK Department for International Trade, brought together the UK and African businesses to explore the opportunities for partnership and investment.
A statement obtained quoted panel members as saying that investment in large-scale electrification projects would be key.
“African countries are building back better from the coronavirus.
“This presents an unalloyed opportunity for UK investors to be part of the African success story and for African countries to access the UK’s support for projects,” CEO, UK Export Finance, Louis Taylor, said.
According to Taylor, “The UK is still the ultimate one-stop-shop. The UK Government is still the largest G7 investor in Africa. For instance, UK Export Finance is providing a £1.7 billion guarantee to support the development of Cairo monorail in Egypt – the UK’s biggest ever overseas infrastructure guarantee.”
According to data from the International Energy Agency (IEA), scaling up Africa’s capacity to achieve universal access to energy by 2030 would require over $100 billion yearly, of which 40 per cent would be dedicated to solar, wind, and other low-carbon power generation projects.
The African Development Bank (AfDB) has taken the lead in accelerating the electrification of the continent through its New Deal on Energy for Africa, a transformative partnership-based strategy that aims to increase access to energy for all Africans.
“Building on the City of London’s deep expertise in innovative financial solutions, the AfDB sees promising opportunities to further expand its program to securitise receipts from solar home systems providers,” AfDB’s Director for Energy Financial Solutions, Policy and Regulation, Wale Shonibare, said.
Shonibare called for a structured approach to sustainable infrastructure development and the implementation of large-scale electrification programs, citing the Bank’s Desert to Power initiative as an example of a project likely to attract interest from UK businesses.
Business Development Director of UK-based NMS Infrastructure Ltd, Nicholas Oliver, urged investors to engage more actively with local companies. “We need to create partnerships with governments and local businesses. It is a great time to invest in Africa. The African Development Bank estimates that climate change presents a $3 trillion investment by 2030. What an opportunity,” he said.
Also contributing, the Co-Managing Director of African Infrastructure Investment Managers, an infrastructure investment management firm, Olusola Lawson, noted the urgent need for access to energy in centers of high demand.
“In Africa, you can’t have transition without electrification. In this context, what we see is the trend from centralized large-scale power plants to a more distributive system,” Lawson said.
The UK has been a strong partner to the AfDB in the institution’s drive to attract greater private sector participation in African infrastructure investment. The Bank is currently working with a number of UK institutions to improve the enabling environment for infrastructure development in Africa.
Energy
Synergy, commitment crucial to clean energy transition, sustainability in Africa — CEO, Egbin Power
As carbon emissions reduction and energy security remain a crucial focus in the global sustainability agenda, shared commitment, synergy and decisive actions are the cornerstone of accelerating the transition to cleaner energy and achieving a sustainable environment.
Having analysed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and land use, transportation, industry and others, the Chief Executive Officer, Egbin Power, Mokhtar Bounour, charged for synergy and renewed commitment among stakeholders.
He made this known at the maiden edition of Asharami Square, a Sahara Group initiative aimed at amplifying the discourse on sustainability through impactful media advocacy.
While highlighting Egbin Power’s unwavering commitment to reducing carbon emissions and promoting sustainable energy sources, Bounour further stressed the need for deepened engagement and advocacy to further prioritise sustainability.
Bounour outlined Egbin Power’s comprehensive approach to sustainability, which includes an array of pragmatic initiatives such as obsolescence management, asset upgrades, energy efficiency improvement, sustainability and environmental impact management, and fugitive emissions minimization.
These programs are strategically designed to effectively address carbon emissions and promote cleaner energy initiatives.
According to him, Egbin Power drives sustainability through afforestation, adoption and enforcement of ANSI Lighting Design Standards for the Egbin built environment, a gradual switch from Internal Combustion Engines (ICEs) to Compressed Natural Gas (CNG) and the integration of Electric Vehicles (EVs) into the company’s operations, among other interventions.
“These actions demonstrate Egbin Power’s commitment to thinking globally and acting locally, ensuring that deliberate and impactful steps are taken to promote sustainability and environmental consciousness actively.
“As a responsible organisation Egbin Power is steadfast in its commitment to promoting sustainability.
“Our roadmap and initiatives are designed to align with global sustainable development goals and to ensure that we contribute to a cleaner and more sustainable energy landscape in Africa.
“Our pragmatic initiatives which include obsolescence management, asset upgrades and overhauls, energy efficiency improvement, sustainability and environmental impact management, and fugitive emissions minimization as part of programs designed to address carbon emissions.
“We are committed to treating the environment with the utmost care, knowing well that every activity we engage in – either as an individual or collectively as an organisation has an impact on the ecosystem,” Bounour explained.
By Esther Agbo
NNPC Retail Limited has swiftly responded to allegations circulating on social media regarding coercive practices at one of its filling stations.
A video clip surfaced on social media, X (formerly Twitter) precisely, purportedly showing customers being pressured to purchase lubricants or engine oil in order to obtain Premium Motor Spirit (PMS), commonly known as petrol. The attendant in the video claimed that this directive originated from NNPC Retail Management.
In a statement issued, NNPC Retail categorically refuted the allegations, asserting that such practices are entirely false and do not align with the company’s Customer Service Charter. According to NNPC Retail, customers visiting any of their filling stations are under no obligation to purchase additional products as a condition for buying petrol.
Managing Director of NNPC Retail Ltd, Mr. Huub Stokman, emphasised the company’s commitment to transparent and quality service delivery.
He stated, “We are dedicated to providing clear, transparent and quality service to all our customers, guaranteeing that their needs are met without any recourse to unnecessary and unscrupulous conditionalities.”
In response to the incident, NNPC Retail Limited has initiated an investigation to ascertain the facts surrounding the video. The company has assured the public that appropriate disciplinary measures will be taken against any individuals found responsible for misconduct.
“The public is hereby advised to disregard the information in its entirety and report any such occurrences to the appropriate authority.
“In the meantime, NNPC Retail Limited has launched an investigation into the unfortunate incident and assures that appropriate disciplinary action will be taken against the culprit (s).”
In line with the Electricity Act 2023, the Nigerian Electricity Regulatory Commission, NERC, issued an order transferring regulatory oversight of the electricity market in Imo to the Imo State Electricity Regulatory Commission.
This was contained in a recent order signed by NERC Chairman Sanusi Garba.
The order shall take effect on July 1, 2024.
The implication is that Imo State will be responsible for the complete regulation of its electricity market.
The order stated: “Section 230 (3) of the Act mandates the commission to develop a transition plan and timeline for the transfer of regulatory oversight of the intrastate electricity market from NERC to ISERC upon receipt of formal notification from the State
“EEDC shall complete the incorporation of EEDC SubCo within 60 days from the effective date of this Order and, EEDC SubCo shall apply for and obtain a licence for the intrastate supply and distribution of electricity from ISERC.
“EEDC shall identify the actual geographic boundaries of Imo State and carve out its network in Imo State as a standalone network with the installation of boundary meters at all border points where the network crosses from Imo State into another state.”
With the development, Imo becomes the fourth state to get electricity regulatory authority after Enugu, Ondo and Ekiti states.
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