• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Starvation, horror in Venezuela
  • 2 hours WTI @ 67.50, charts show $62.50 next
  • 54 mins Mike Shellman's musings on "Cartoon of the Week"
  • 1 hour Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 1 hour Venezuela set to raise gasoline prices to international levels.
  • 6 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 40 mins Batteries Could Be a Small Dotcom-Style Bubble
  • 48 mins Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 8 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 7 hours Corporations Are Buying More Renewables Than Ever
  • 23 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 22 hours California Solar Mandate Based on False Facts
  • 12 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 12 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
Iran’s Latest Tactic To Save Market Share

Iran’s Latest Tactic To Save Market Share

Iran cut oil prices for…

Are The Saudis Involved In The Tesla Buyout Plan?

Are The Saudis Involved In The Tesla Buyout Plan?

Saudi Arabia’s Public Investment Fund…

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