Joseph Bakare The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says 22 major offshore projects are expected between 2026 and 2030 with an estimated investment potential of between $30 billion and $50 billion. The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, said this in Lagos on Wednesday, August 5, 2026 at the Society of Petroleum Engineers’ Nigeria Annual International Conference and Exhibition (NAICE 2026). Eyesan, who was represented by the Executive Commissioner, Development and Production, Engineer Enorense Amadasu, said in her keynote address that these investments are expected to increase production, create jobs and strengthen energy security. She stated, “Since 2024, the NUPRC has approved over US$57…
Author: Orientalnews Staff
Yemisi Izuora Strong financial performance recorded by several companies listed on the Nigerian Exchange (NGX) in the first half of 2026, has been attributed to the economic reforms introduced by President Bola Tinubu’s administration since assuming office in 2023. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, claims that the reforms had created a more stable and predictable business environment, boosting investor confidence and corporate profitability. He said, “The strong financial performance recorded by many of the companies listed on the Nigerian Exchange in the first half of 2026 is attributable to several key economic reforms…
Uche Cecil Izuora A total of 13.92 megawatt-peak (MWp) interconnected hybrid solar mini-grid projects would be built across five key locations in Yobe State. The flag-off ceremony of the project took place on Wednesday, August 5, 2026, across sites spanning Damaturu, Bade, Nguru, and Potiskum. The initiative forms part of a strategic drive to stabilize power supply, stimulate local commerce, and reduce energy overheads in key urban and semi-urban communities, supported by the delivery of 40 distribution transformers. Executed by the Rural Electrification Agency (REA) with support from the World Bank, the project directly aligns with President Bola Ahmed Tinubu’s…
Precious Obogo Sunbeth Global Concepts Limited has received investment grade national scale credit ratings from two SEC-regulated African credit rating agencies, Agusto & Co. and Intelligence Africa, reinforcing confidence in the company’s financial strength, operational performance and long-term growth strategy. Agusto & Co., Nigeria’s foremost indigenous credit rating agency, regulated by the Securities and Exchange Commission, assigned Sunbeth an A2 Short-term and Bbb long-term rating. In a separate first-time assessment dated 9 July 2026, Intelligence Africa assigned Sunbeth a BBB+.NG national scale long-term issuer credit rating and an A2 Short-term rating; with a Stable Outlook. According to the agency,…
Joseph Bakare The Federal Government has given approval for an institutional reform and financing framework to accelerate the electrification of health facilities nationwide, in a move officials say will bring reliable, 24-hour power to hospitals long hampered by erratic electricity supply. The decisions were reached at the third meeting of the Inter-Ministerial Steering Committee (IMSC) of the Nigeria Power for Health Initiative (NPHI), a presidential programme jointly coordinated by the Federal Ministries of Power and Health and Social Welfare, which is targeting reliable electricity for at least 30 per cent of Nigeria’s health facilities by the end of 2027.…
Uche Cecil Izuora Morocco has awarded a $1.5 billion concession to build Africa’s first large-scale waste-to-electricity power plant, according to Reuters. The project which is at present projected to be the largest waste-to-energy power plant would be sited in Casablanca. The facility will process 1.5 million metric tons of waste annually and generate 115 megawatts of electricity, enough to supply nearly one million people. The project is expected to reach full commercial operation by mid-2030, although construction remains contingent on financing. African cities generate millions of metric tons of waste each year, yet they continue to leave much of its…
Uche Cecil Izuora Governments across Africa including private developers are advancing major electricity projects to meet rising demand, support industrial growth and expand energy access. From utility-scale renewable energy developments to gas-fired power projects and regional electricity networks, countries are developing new approaches to attract capital and strengthen power markets. The financing models, offtake structures and infrastructure partnerships needed to accelerate this growth will be explored during the Renegade Intel Platform’s Roundtable: PPAs, Grid Access and Bankable Energy Models at African Energy Week 2026. The session will bring together industry leaders, policymakers, financiers and project developers to discuss how…
Precious Obogo The Coalition of Ilaje Ravaged Communities, with advocacy support from the Corporate Accountability and Public Participation Africa (CAPPA) will on Thursday, August 6, 2026, hold a peaceful protest to draw attention to the worsening environmental and humanitarian crisis threatening coastal communities in Ilaje Local Government Area of Ondo State. The protest, tagged “Operation Save Ilaje: Protect Our Coastal Communities from Extinction,” will bring together affected residents and members of no fewer than 20 communities, including Ayetoro, Awoye, Mese, Gbagira, Jiringho, Ilowo, Ilepete, Idiogba, Oroto, Alagbon, Erunona, Olotu, Yaye, Womitenren, Ogboti, Lepe, Ehinmore, Abetobo, and Abereke to demand…
Precious Obogo Key Civil society organisations in Nigeria have cautioned the Federal Government that Nigeria’s worsening insecurity cannot be solved by establishing state police alone, saying the country must also address the deeper governance, economic and social conditions fuelling violence and criminality. The Rule of Law and Accountability Advocacy Centre (RULAAC), Africana League and Corporate Accountability and Public Participation Africa (CAPPA) made the submission at a webinar on Tuesday, July 28, 2026, organised by CAPPA, titled “Insecurity and State Policing in Nigeria: The Way Forward.” The organisations called for a broader approach that combines policing and justice sector reforms…
Valentine Okafor DataPro Rating Agency has released a new series of analytical reports examining emerging trends in credit risk, financial regulation and market development, with a strong focus on Africa’s evolving financial landscape. The publications explore critical issues ranging from the proposed African Credit Rating Agency (AfCRA) and the recent revocation of microfinance bank licences by the Central Bank of Nigeria (CBN) to the growing importance of data centre credit assessments and the challenges associated with mature markets. In one of the reports titled How AfCRA Can Overcome Investors’ Skepticism, DataPro said the proposed African Credit Rating Agency represents…