• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 18 mins Which producers will shut in first?
  • 58 mins The Most Annoying Person You Have Encountered During Lockdown
  • 48 mins We are witnesses to the end of the petroleum age
  • 3 hours Its going to be an oil bloodbath
  • 38 mins Breaking News - Strategic Strikes on Chinese Troll Farms
  • 4 hours As Saudi Arabia Boosts Oil Output, Some Tankers Have Nowhere to Go
  • 14 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 19 hours Real Death Toll In CCP Virus May Be 12X Official Toll
  • 15 hours How to Create a Pandemic
  • 9 hours Death Match: Climate Change vs. Coronavirus
  • 2 hours Natural gas price to spike when USA is out of the market
  • 15 hours Where's the storage?
Economic Activity Hits A Decade-Low

Economic Activity Hits A Decade-Low

Economic activity has plunged to…

Why This Is Not The Right Time To Buy Energy Stocks

Why This Is Not The Right Time To Buy Energy Stocks

After a strong three-day rally,…

Nigeria Goal of 40,000 Megawatts Needs $10 Billion Annual Investment

Nigeria Goal of 40,000 Megawatts Needs $10 Billion Annual Investment

The Nigerian government says that in order to boost the country’s electrical output to 40,000 megawatts the country needs $10 billion in annual investment over next decade.
 
In making the observation Nigerian Minister of Power Bath Nnaji noted that the federal government did not have such amounts of money unilaterally to invest in upgrading the nation’s power generation capacity and emphasized the need for the government to partner with the private sector if such goals were to be achieved, Abuja’s This Day newspaper reported.
 
Nnaji cautioned that even if Nigeria manages to achieve the goal of 40,000-megawatt power generation, it would still not be enough to solve the country’s needs, citing South Africa as an example, saying that its population of about 47 million was still battling with inadequate power supply. Nnaji added, "So, we need to do more than 40,000 megawatts. As a result we are looking at ways to augment what we presently have. Currently we have two major sources, which are hydro and thermal. We are now adding the third source, which is coal.

We are building three coal fire power stations in Enugu, Gombe and Kogi. Nigeria's coal is the highest in terms of quality in the world. It is only coal from Australia that can compete with Nigeria. We are doing 1,000 megawatts in each station."

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News