• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 58 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 13 days Bankruptcy in the Industry

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

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News