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Business News of Friday, 14 October 2022


80% of Nigerians enjoy electricity - NNPC CEO Kyari

Lantern and electricity supply line Lantern and electricity supply line

Mele Kyari, NNPC Group Chief Executive Officer, has claimed that 80 per cent of Nigerians have electricity.

He stated that the oil and gas industry had changed rapidly in a positive direction because of the change of attitude by Nigerians and industry players.

“In our country today, we have so much energy, 80 per cent of the population can now boast of electricity. Energy is necessary for our day-to-day dealing; businesses are changing. Companies are shifting their focus. We must deliver energy, training and innovative technology must be a focus for us in a manner that will help to deliver energy,” Kyari stressed.

He explained that this energy would bring about efficiency, noting that without energy, “there will be no recovery of value, and you will keep losing so many things.”

In September, the Nigerian government and seven companies (AB InBev, Akamai, HP, Iron Mountain, Lady Lawyer Foundation, Rife International, and Unilever) signed a ‘Letter of Intent’ to support the clean energy transition by working to procure clean energy.

The companies seek to unlock investment in clean energy infrastructure arising from commercial and industrial sector operations.

This collaboration will help develop robust, reliable, transparent, cost-competitive, and credible procurement options that comply with labour laws in Nigeria to help meet clean energy targets, increase energy security, and enable corporations to reduce their greenhouse gas emissions.

The Clean Energy Demand Initiative (CEDI) serves as a platform for stakeholder engagement and country partnerships and creates a venue for companies and countries to signal investment potential in clean energy, share experiences, and support each other on policy reform that contributes to affordable and resilient energy systems to drive economic growth.