Louisiana Light • 3 days | 87.12 | +0.03 | +0.03% | |||
Bonny Light • 19 hours | 89.32 | +0.45 | +0.51% | |||
Opec Basket • 3 days | 86.51 | -1.01 | -1.15% | |||
Mars US • 173 days | 77.26 | -1.51 | -1.92% | |||
Gasoline • 55 mins | 2.735 | +0.001 | +0.03% |
Bonny Light • 19 hours | 89.32 | +0.45 | +0.51% | |||
Girassol • 19 hours | 89.90 | +0.45 | +0.50% | |||
Opec Basket • 3 days | 86.51 | -1.01 | -1.15% |
Peace Sour • 18 hours | 76.56 | +1.46 | +1.94% | |||
Light Sour Blend • 18 hours | 79.61 | +1.46 | +1.87% | |||
Syncrude Sweet Premium • 18 hours | 86.56 | +1.46 | +1.72% | |||
Central Alberta • 18 hours | 76.96 | +1.46 | +1.93% |
Eagle Ford • 3 days | 79.33 | -0.29 | -0.36% | |||
Oklahoma Sweet • 6 days | 79.75 | +0.50 | +0.63% | |||
Kansas Common • 2 days | 73.50 | +0.50 | +0.68% | |||
Buena Vista • 3 days | 87.02 | -0.29 | -0.33% |
Africa’s biggest oil producer, Nigeria,…
When the illusion of unending…
The Nigerian government says that in order to boost the countryâs electrical output to 40,000 megawatts the country needs $10 billion in annual investment over next decade.
Â
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 nationâs power generation capacity and emphasized the need for the government to partner with the private sector if such goals were to be achieved, Abujaâs This Day newspaper reported.
Â
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 countryâs 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
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Merchant of Record: A Media Solutions trading as Oilprice.com