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Africa Requires $190bn Annual Investments For Four Years To Achieve Energy Goals – Seyi Sobogun

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Africa Requires $190bn Annual Investments For Four Years To Achieve Energy Goals – Seyi Sobogun

 

Africa will require about $190bn worth of investments annually between 2026 and 2030 to meet its energy and climate goals to boost socio-economic prosperity on the continent.

 

This was disclosed by Seyi Sobogun, head of Capital Projects at Egbin Power Plc while delivering a paper titled “Energy Mix – The Challenges with Funding and Deploying Commercially Viable Renewable Energy Solutions,” at the recently concluded West Africa Power Pool Conference in Dakar, Senegal.

 

Egbin Power Plc is a Sahara Power Group Company.

 

Citing the International Energy Agency’s Africa Energy Outlook for 2022, Sobogun said, “Achieving Africa’s energy and climate goals means more than doubling energy investment this decade. This would take it over $190bn each year from 2026 to 2030, with two-thirds going to clean energy.”

 

Noting that Africa’s energy generation would continue to be from natural gas, as renewables were expected to grow from 21 per cent in 2020 to 59 per cent of electricity generation by 2030, Sobogun said Africa would require about $2.64tn, roughly the size of her GDP, to rely 100 per cent on renewable energy sources for electricity generation by 2050.

 

He said the funds would be required to drive the installation of the renewable energy sources, as well as the infrastructure needed for the generation, network and storage system, and other enabling costs.

 

According to Sobogun, solar, wind and hydro power generation are the most viable renewable energy solutions in Africa. He pointed out that Nigeria’s photovoltaic power potential made solar energy very feasible for both investors and consumers.

 

“Sahara Power is currently harnessing this potential through the implementation of large-scale and mini-grid solar projects,” he stated, adding, “Sahara has begun the implementation of solar energy in Nigeria through large-scale renewables, such as the construction of a 5MW solar farm in North East Nigeria and the deployment of mini-grid solutions to locations that commenced with three pilot projects within Sahara Power’s Ikeja Electric franchise in Lagos.”

 

He said the solar solution in Lagos is expected to benefit over 20,000 households, with far reaching positive impact on economic activities.

 

Public and private investors have been the sources of funds to Africa’s renewable energy investments, including international donors, banks and development finance institutions.

 

Between 2000 and 2019, Africa received a total of $109bn in public commitments in the energy sector. Almost $60bn of that was committed to the renewable energy sector.

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TCN Restores Power Supply to Katampe Substation After Shiroro Line Fault

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The Transmission Company of Nigeria (TCN) has restored bulk power supply to its Katampe 330kV Transmission Substation in Abuja following an earlier disruption caused by a fault on the Shiroro–Katampe 330kV Line 1.

The development was disclosed in a statement released by TCN management on Friday, October 9, 2026.

SEE ALSO: Kainji–Birnin Kebbi Power Line: TCN Begins Final Phase of Restoration

According to the statement, bulk power supply was restored to the Katampe substation at 4:15 p.m. through the Gwagwalada–Katampe 330kV Line 1.

TCN explained that the Shiroro–Katampe 330kV Line 1 remains out of service due to a fault, necessitating the use of the Gwagwalada–Katampe line to restore supply to the substation.

The company also announced the suspension of planned maintenance work on the Gwagwalada–Katampe 330kV Line 1 to enable the line to continue supplying the Katampe substation.

The suspended maintenance work involved replacing defective line isolators and the associated earthing switch.

TCN apologised to electricity consumers in the affected areas for any inconvenience caused by the disruption and maintenance arrangements.

 

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NEWS

2027 Elections: FG Warns Politicians Against Promises on Fuel Subsidy

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The Federal Government has warned politicians against making promises that could reverse Nigeria’s economic reforms, insisting that it will not restore fuel subsidy amid renewed debate over the Nigerian National Petroleum Company Limited’s (NNPC) petrol discount.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this during an interview on Channels Television on Friday, saying the government would not bring back subsidies on petroleum products.

“This government is not bringing back subsidy on fuel products. We need to be clear,” Oyedele said.

ALSO READ: NNPC Petrol Discount: Oyedele Explains How Lower Margins Could Boost Profits

The minister also criticised politicians who, according to him, make promises to win elections without fully considering the implications of implementing them.

He suggested that some politicians make sweeping promises during election campaigns only to offer excuses when confronted with the realities of governance.

“I think I would pardon people who say all manner of things because they want to get elected. It’s almost like ‘whatever I need to say, when I get there, I’ll give excuses.’ But we have the data,” he said.

Oyedele added that he felt a personal responsibility not to remain silent about the economic realities known to the government or allow populist positions to push Nigeria in the wrong direction.

“I feel the personal responsibility that I cannot see what I see and keep quiet, or populism to move our country in the wrong direction,” he said.

NNPC Petrol Discount Sparks Fresh Subsidy Debate

The minister’s remarks come amid renewed debate over fuel subsidy following the Federal Government’s announcement of a 30-day petrol discount at NNPC retail stations.

The initiative was introduced as a temporary measure to provide relief to Nigerians amid elevated global crude oil prices and concerns about the cost of petroleum products.

NNPC Retail had also announced a N66-per-litre petrol discount to mark Nigeria’s 66th Independence Anniversary, with the offer scheduled to run until October 31, 2026, across its retail stations nationwide.

The company maintained that the discount was a customer-relief initiative and did not represent a return to the petroleum subsidy regime.

The distinction has become central to the debate, with the government insisting that temporary price relief at NNPC stations does not amount to restoring the subsidy policy abolished in May 2023.

The administration has maintained that the current arrangement differs from the former subsidy system, under which the government intervened to cover part of the cost of petrol.

FG Defends Economic Reforms

During the interview, Oyedele also referred to a World Bank update, saying the institution had acknowledged a reduction in poverty levels and increased spending on infrastructure, particularly roads.

He urged Nigerians not to reverse the progress he said had been made, arguing that the country was approaching a point where the benefits of ongoing reforms should begin to emerge.

 

 

 

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Kaduna Moves to Clear 5-Year Promotion Backlog for 24,000 Teachers

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The Kaduna State Universal Basic Education Board (SUBEB) has commenced a promotion exercise for 24,000 eligible staff as part of efforts to clear outstanding teachers’ promotions dating back to 2021.

The development was disclosed on Friday as the administration of Governor Uba Sani intensifies efforts to address promotion backlogs, recognise teachers’ years of service and improve staff welfare across the state.

The exercise covers outstanding promotions from 2021 to 2026 and is expected to provide eligible teachers and other staff with opportunities for career progression.

SEE ALSO: Kaduna Clears N18bn Pension Arrears, Raises Agric Funding to N100bn

According to the announcement, eligible personnel will undergo an assessment process, after which promotions will be implemented for those who successfully meet the requirements.

The initiative is part of efforts to strengthen the education sector by recognising the contributions of teachers and supporting their professional development.

The state government has emphasised the importance of investing in teachers, noting that a motivated and valued teaching workforce is essential to building a stronger education system.

The exercise is also expected to address long-standing staff concerns relating to career advancement within the state’s basic education sector.

 

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