• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 11 hours Oil prices going Up? NO!
  • 3 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 4 mins Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 2 days Could Venezuela become a net oil importer?
  • 3 hours The Tony Seba report
  • 2 days Gazprom Exports to EU Hit Record
  • 1 day Oil prices going down
  • 1 day Could oil demand collapse rapidly? Yup, sure could.
  • 19 mins Kenya Eyes 200+ Oil Wells
  • 2 days Oil Buyers Club
  • 7 hours Saudi Arabia turns to solar
  • 19 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 13 hours Are Electric Vehicles Really Better For The Environment?
  • 1 day Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 days Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 2 days EU Leaders Set To Prolong Russia Sanctions Again

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