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Federal Government has unveiled a $23.2 billion National Energy Compact (NEC) aimed at accelerating Nigeria’s energy transition and addressing the country’s persistent power supply challenges with a target of $15.5 billion in private sector investment to bridge the country’s energy deficit and promote cleaner, sustainable energy solutions.

President Bola Tinubu has confirmed the approval of a $1.1 billion fund from the African Development Bank (AfDB) to provide electricity to 5 million Nigerians by the end of 2026. In addition, Tinubu highlighted the AfDB’s $200 million Nigeria Electrification Project. This aims to provide electricity to 500,000 people by the end of 2025.

President Bola Tinubu has departed Abuja for Dar es Salaam, Tanzania, to participate in the Africa Heads of State Energy Summit starting today. The summit, being hosted by the Government of the United Republic of Tanzania, the African Union, the African Development Bank Group (AfDB), and the World Bank Group, will bring together over 25 […]

Nigeria has emerged as the fourth-ranked African country in terms of installed solar capacity, adding 63.5 megawatts peak (MWp) in 2024, according to the Africa Solar Industry Association (AFSIA).

In a monumental step towards transforming Lagos into a 24-hour economy, Governor Babajide Sanwo-Olu has officially signed the 2024 Lagos Electricity Bill into law, setting the stage for a revolution in power supply across the state.

At COP29 in Baku, multilateral development banks (MDBs) announced a commitment to collectively mobilize significant financial support to help countries meet ambitious climate goals. By 2030, MDBs estimate they will direct USD 120 billion annually towards low- and middle-income countries, with a portion allocated to adaptation efforts