Ghana: We will fully Implement President’s Free Electricity Directive-ECG MD
The Managing Director of the Electricity Company of Ghana, Kwame Agyeman-Budu has assured electricity consumers in the West African nation that his outfit will fully implement the President’s directive.
The power distribution company’s MD gave the assurance in a short video sighted by energynewsafrica.com.
“We will ensure that electricity bills of all lifeline persons who consume zero to 50 kilowatt/hour a month will be fully absorbed by the government.
“Non-lifeline prepaid and post-paid customers (residential and commercial) will enjoy the 50 percent relief on their electricity consumptions in April, May and June using their March 2020 consumption as the benchmark,” Mr Agyeman-Budu said.
He said these reliefs will be fully implemented from May 1, 2020.
His Excellency President Nana Akufo-Addo, President of Ghana, last week, announced that the government would fully absorb the bills of all lifeline consumers and 50 percent rebate for commercial electricity consumers for three months.
The three months’ free electricity is expected to cost the government about GH¢1.04 billion.
The move is part of measures being introduced by the government to mitigate the impact of the Coronavirus on Ghanaians.
Commenting on the interventions by the government to address the spread of the Coronavirus, Mr Agyeman-Budu stressed the need for Ghanaians to observe social distancing and practise hand washing with soap under running water.
He, finally, urged Ghanaians to respect the restrictions order by staying at home.
Source: www.energynewsafrica.com
Africa Energy Forum Relocates To Amsterdam From 20-22 October 2020
Organisers of Africa Energy Forum (aef) have rescheduled this year’s programme to take place in Amsterdam, the Netherlands from 20-22 October 2020.
The forum was scheduled to take place in July, but had to be rescheduled in the interests of all attendees’ safety after monitoring the COVID-19 situation and its impact on global economies.
The Forum, organised by EnergyNet, brings together decision-makers in Africa’s energy sector to form partnerships, identify opportunities and collectively move the industry forward.
Commenting on the move, EnergyNet’s Managing Director Simon Gosling, said: “This decision has not been taken lightly and we hope clients will recognise this opportunity to fast-track their business development after a significant period of disruption.
“We’ve chosen Amsterdam for a number of reasons – most importantly its exceptionally resilient economy and $42bln investment fund being deployed across the continent to support energy transition goals. The Netherlands played host to the very first aef back in 1999, and continues to play an exceptional role in the development finance space with FMO being a significant and highly regarded player.
“Despite challenging times we’ve continued to receive registrations and high level speakers, so are confident this postponement will be timely and continue to focus heavily on project development objectives.”
In line with the SDG7 goal “access to affordable, reliable, sustainable and modern energy for all,” aef will host a stream dedicated to unpacking Africa’s role in achieving SDG7, debating how the continent can meet energy demands in light of global sustainability goals.
Between now and October, EnergyNet will host a series of webinars and other online content focusing on strategic energy programmes such as the REIPPPP resurgence in South Africa. The purpose will be to define the direction energy programmes are taking so clients can prepare strategies to be among the preferred bidders by the Africa Energy Forum dates in October.
Gosling added; “One thing that hasn’t changed and never will is our commitment to the sector. We’re every bit as passionate about delivering the outstanding networking experience our delegates have come to expect, and driving the sector forward – even at such a challenging time.”
Source:www.energynewsafrica.com
Liberia: Petroleum Regulatory Authority Launches 2020 Licensing Round Despite Covid-19 Pandemic
Liberia’s Petroleum Regulatory Authority (LPRA), has officially launched the country’s 2020 Licensing Round and offered 9 oil blocks for exploration
The official launch which was done online on Thursday, April 16, 2020.
In a brief remarks, Archie N. Donmo who is the Director General of the LPRA said: “This is a watershed moment for the country and the Authority (LPRA) is excited to reach an agreement with all parties including TGS and NOCAL in promoting Liberia’s offshore acreage.”
Whilst some countries have been postponing or cancelling planned licensing rounds due to COVID-19 restrictions, LPRA decided to relocate their launch to a webinar, a move supported by President H.E. George Weah, who commented, “Liberia has been, is now, and will continue to remain an attractive investment destination. We want to use this medium to demonstrate that the Government of Liberia provides a stable operating environment, predictable as well as flexible legal and fiscal regimes, and a conducive operating environment for doing business.”
The 2020 round features 9 offshore blocks on offer (LB-25 to LB-33) in the Harper Basin which is regarded as one of the last “unexplored and undrilled” regions offshore West Africa.
The licensing round has been timed to coincide with positive amendments to Liberia’s Petroleum Law, including a provision that a mandatory 5% interest in all petroleum agreements to be awarded to Liberian-owned companies. Once pre-qualified, the list will be submitted to qualified international bidders to review for possible partnership opportunities.
“This move by the LPRA is a demonstration of the Liberian Government’s commitment to ensuring that indigenous Liberian companies are directly involved in the petroleum sector of the country.”
Africa Oil Week sponsor TGS is supporting the licensing round and hold the following multi-client data across the acreage on offer:
- 5,961 kilometres of 2D seismic, gravity and magnetic data
- 6,167 square kilometres of 3D seismic, gravity and magnetic data
Ghana: Joint Effort Crucial In COVID-19 Fight-GRIDCo CEO
The Chief Executive Officer of Ghana’s power transmission company (GRIDCo), Ing. Jonathan Amoako-Baah says a collective global approach to tackling the Coronavirus pandemic is what will help the world win the fight.
COVID-19 cases continue to escalate across the world and Africa whilst the death toll does not appear to be easing anytime soon.
In Ghana, despite the rise in the total number of cases, there is general acceptance that the measures put in place by the government are making a huge difference and will go a long way to contain the spread.
Recently, the government extended a two-week lockdown of key cities in the country by another week, as it looks to flatten the curve of spread.
The West African nation has recorded 641 cases with eight deaths and 83 recoveries.
Contributing to a Utilities Crisis Management Webinar organised by the Utility CEO Forum and Smart Energy International, Ing. Jonathan Amoako-Baah said: “What is before us is a pandemic of ancient Egyptian proportions. Whilst the entire globe is threatened throughout every facet of its life, there’s an opportunity for us to come together to fight this. It is only the collective effort that will put this behind us; otherwise, we stand a chance of facing even greater challenges ahead.”
As a leader of an essential services company in Ghana, Ing. Jonathan’s job is quite cut out for him and he remains poised to steer the ship in the right direction.
“The situation has impacted majority in the power sector including GRIDCo; especially in the area of key projects that are crucial to maintaining an efficient grid system. However, we are looking to leverage opportunities and mitigate the challenges posed by the pandemic in order to strengthen our business model for a much better outlook. I want to also urge everyone to continue following the laid down precautions and measures in place in order for us to fight this head on and win,” he added.
The Webinar explored the readiness of the African power sector in dealing with the pandemic. Participants in the sector shared experiences in handling their operations in the midst of the pandemic and also embraced several best practices from industry experts.
Over 500,000 Clean Energy Jobs Could Be Lost By End Of June
The world is grappling with one of the most – if not the most – devastating crises of a generation. It’s forced people into their homes, cratered the markets and has led to tens of millions of lost jobs. In the clean energy industry alone, over 100,000 jobs were lost in March. And it’s likely to get much worse.
A recent report from Environmental Entrepreneurs (E2) revealed that there were 106,000 unemployment claims filed by clean energy workers in the month of March, with 69,800 claims coming from the energy efficiency industry, 16,500 coming from the renewable energy industry, 12,300 from the clean vehicles industry, and 7,700 from grids, storage, and clean fuels.
The wave of layoffs in March is just the beginning, according to the study. Demand for energy has plummeted, and the nationwide lockdown orders if no action is taken by Congress, as much as 500,000 jobs could be lost within the clean energy sector by the end of June.
E2 executive director Bob Keefe noted “It’s a huge and important part of our economy,” adding, “Anything that Congress does to get our economy back on its feet and to get America working again should absolutely include a focus on an industry of that size.”
In addition to immediate support from lawmakers, advocates are also calling on Congress to use the industry to help rebuild the economy as it did following the economic crisis of 2008 with the American Recovery and Reinvestment Act.
The E2 report proposes a program that includes $30-90 billion in spending to improve grids to prepare for an extensive renewable energy deployment program which will incorporate a nationwide electric vehicle charging network and building electrification program. Additionally, its plan adds increased funding to the Department of Energy research and development programs.
Keefe explained, “Why can’t we get some of the 150,000 or so people who work in grid modernization at utilities and in energy storage out there upgrading our ancient power grid in America?” Adding “You can do some pretty good social distancing when you’re a couple hundred feet up on a power line somewhere.”
Source: oilprice.com/www. energynewafrica.com
Ghana: Asante Berko Never Bribed Parliamentarians To Pass Power Deal-Adams Mutawakilu
A Ranking Member of Mines and Energy Committee in Ghana’s Parliament, Adam Mutawakilu has rejected bribery and corruption allegations made against Members of Parliament in the approval of the AKSA Energy deal.
The U.S. Securities and Exchange Commission earlier this week charged Mr. Berko, who is a former banker at Goldman Sachs Group Inc, for arranging at least $2.5 million in bribes to be paid to Ghana Government officials and MPs between 2015 and 2016.
The alleged bribes were reportedly to help a Turkish company secure a power purchase agreement deal in Ghana back in 2015 amid the power crisis.
Though there are no details yet on the nature of Mr. Berko’s engagement with Parliament, Mr. Mutawakilu has come out to say the Mines and Energy Committee had no direct dealings with the accused.
“I want to state emphatically that nothing of that sort happened and Parliament never received anything with respect to performing our legitimate duties as to the passing of the power purchasing agreement. It wasn’t only his but we passed several agreements but there was no situation where there were any underhand dealings,” he told Accra- based Citi FM.
Mr. Asante Berko on Wednesday, resigned as Managing Director of the state owned Tema Oil Refinery after issuing a statement denying the bribery allegation.
“I state categorically that I have not paid any bribes to government officials, Members of Parliament nor any officials of Parliament. I have had no contact with Members of Parliament nor officials of Parliament, regarding the approval of this transaction,” Mr Asante Berko stated.
The Damongo legislator also said it would be prudent for Parliament to wait on the case in the U.S to develop significantly.
“Thankfully he himself has admitted that he never paid anything to Parliament or any other persons and now the matter is before a court and we expect the court to do its work while we monitor the outcome which will go further to indicate whether the Speaker will take as a matter of urgency,” the Ranking Member said.
Ghana: Remove VAT, GETFUND, Other Levies To Make End User Electricity Affordable-CiPDiB CEO
The Chief Executive Officer of the Chamber of Independent Power Producers, Bulk Consumers and Distributors (CIPDiB), Ghana, Elikplim Kwabla Apetorgbor has called for the removal of what he described as inessential taxes which have contributed to high electricity tariffs in the West African nation.
He mentioned them as GETFUND (2.5%), NHIL (2.5%), Value Added Tax (12.5%), Public Lighting – Street lighting (3%) and the National Electrification (2%).
These levies and charges, he said do not only create inconvenience and burden to consumers but also weaken the capacity for growth as a nation and make distribution companies (discos) uncompetitive.
“Complete removal of these taxes and a reduction in gas price will make Ghana’s position as one of the benchmarks in the sub-region and bring visible economic relief to the country,” he stressed in an article copied to energynewsafrica.com.
Below is the full article
COVID-19 ECONOMIC RECOVERY STRATEGY: REMOVE LEVIES & CHARGES ON END USER ELECTRICITY TARIFFS
End User Electricity Tariff across the sub region has been a major concern and one of the capital reasons for the stagnated industry growth. This subject requires an objective and apolitical study of the cost of electricity generation, transmission and distribution in particular, by conducting an analysis of variance, and benchmarking the most competitive economies in the sub region or the world.
Power distribution companies (ECG, NEDCo & EPC) procure power in bulk from generators (IPPS & VRA) through transmission service providers (GRIDCo) and deliver it to the consumers. Power is in most cases delivered to end users at the voltage at which it is usable, hence the Distribution Value Added. The power distributor provides metering, billing and information services to the consumers.
Therefore, the End User Tariff = BGC + TSC + DSC or DAV.
Where Bulk Generation Charge is the sum of capacity charge and average cost recovery price of power purchased by the Distribution Companies from the generators.
Transmission Service Charge is the price charged by GRIDCo for use of the transmission network by the Distribution companies (Discos) and Bulk Customers.
Distribution Service Charge is the price paid by consumers to the distributor (distribution value added) for the supply of electrical power. Presently, however, is the addition of about 22.5% statutory levies and charges to the End User Tariff. This add-ons contribute significantly to the expensive electricity tariff consumers’ talk about. These levies and charges do not only create inconvenience and burden to consumers, but it also weakens our capacity for growth as a nation and renders our distribution companies uncompetitive. These inessential taxes include GETFUND (2.5%), NHIL (2.5%), Value Added Tax (12.5%), Public Lighting – Street Lighting (3%) and National Electrification (2%). Complete removal of these taxes and a reduction in gas price will make Ghana’s position as one of the benchmarks in the sub-region and bring visible economic relief to the country.
For us to see an evidence based industry growth, we must, as a necessity, remove the Maximum Demand Charge and Power Factor Surcharges from the tariff applicable to industries and bulk consumers. The effect should translate into drastic reduction in the cost of production, prices of goods and services and eventually trigger the utilization of any “idle capacity”.
When by the Grace of God the country is out of the clutches of Covid-19 and begins efforts at revitalizing the economy, we must do so on the premise that industries require cheaper power for growth and job creation all of which translate into tax earnings for the country.
After Covid-19, the country will require very strategic interventions and workable solutions to quickly bring the economy to a sound footing. It must not be business as usual. We cannot tax ourselves out of the downturn. We must rather engineer deliberate growth at a faster pace to quickly bring relief to our people. The actions we take will inform the volume of foreign direct investments we are able to attract. Our policies especially in the energy sector will determine how quickly we recover from this shock.
Source:www.energynewsafrica.com
Ghana: Boakye Agyarko Supports Combat Against Covid-19 In Manya Krobo Area
The former Minister for Energy in the Republic of Ghana, Boakye Agyarko has donated some personal protective equipment to the Upper Manya Krobo District Emergency Health Committee in the Eastern Region for onward distributions to hospitals in the area.
The items include hand gloves, detergents and liquid soap.
The former Energy Minister also donated thermometer guns to police officers at the various security check points to enable them check the temperatures of travellers into the area.
The Upper Manya Krobo area is one of the areas in the Eastern Region that has recorded cases of the Coronavirus.
According to a statement by the Ghana Health Service, 31 Indians working with AFCON, an Indian railway company working on the Tema-Akosombo railway project, were among those infected with the Coronavirus.
Despite the severity of the outbreak of virus in the Manya Krobo area, health facilities in the area were incapacitated to attend to any of the COVID-19 patients, hence, the timely intervention of the former Energy Minister.
When contacted, Mr Boakye Agyarko said he received information that the hospitals in the area needed help, thus, his decision to step in.
Mr Boakye Agyarko called on residents in the area to observe social distancing and all the other COVID-19 protocols to stem the spread of the disease.
Source:www.energynewsafrica.com
According to a statement by the Ghana Health Service, 31 Indians working with AFCON, an Indian railway company working on the Tema-Akosombo railway project, were among those infected with the Coronavirus.
Despite the severity of the outbreak of virus in the Manya Krobo area, health facilities in the area were incapacitated to attend to any of the COVID-19 patients, hence, the timely intervention of the former Energy Minister.
When contacted, Mr Boakye Agyarko said he received information that the hospitals in the area needed help, thus, his decision to step in.
Mr Boakye Agyarko called on residents in the area to observe social distancing and all the other COVID-19 protocols to stem the spread of the disease.
Source:www.energynewsafrica.com Ghana: President To Cut Sod For Construction Of Infectious Diseases Treatment And Isolation Facility
The President of the Republic of Ghana, H.E. Nana Addo Dankwa Akufo-Addo is expected to cut sod for the construction of Infectious Diseases Treatment and Isolation Facility at Ga-East in the Greater Accra Region, capital of Ghana.
The facility, which will be funded by the COVID-19 Private Sector Fund, is a contribution of the private sector towards the fight of the novel coronavirus pandemic which has wreck havoc on businesses in Ghana and across the globe.
The COVID-19 Private Sector Fund is an initiative of the Chief Executive Officer of Chamber of Bulk Oil Storage and Distributors, Mr Senyo Hosi, Mr Anthony Oteng-Gyasi (Chairman, Tropical Cable & Conductor Ltd), Mr Edward Effah (Chairman, Fidelity Bank Ghana Ltd), Mr Kwaku Bediako (Director, CH Group), Mr John Taylor (CEO, Woodfield Energy Resources Ltd).
The rest are Mr Omane Frimpong (Chairman, Wilkins Engineering Ltd), Mr Kwame Ofosu Bamfo (Managing Director, Bamson Group) Mr Kwabena Adjei (Group Chairman, Kasapreko), Mr Thomas Svanikier (Chairman, Svani Group Ltd) and Mr Kwasi Twum (CEO, The Multimedia Group).
The West African nation has recorded 641 cases of coronavirus with eight deaths and eighty-three recoveries.
Ghana: Three Months Free Electricity To Cost Gov’t GHC1 Billion
The Government of Ghana is to spend GH¢1 billion to cover free electricity to lifeline and commercial consumers for three months, energynewsafrica.com can report.
The President of the West African nation, H.E. Nana Akufo-Addo, last week, announced that the government will fully bear the cost of electricity for lifeline consumers and also pay for 50 percent for commercial consumers for the months of March, May and June.
The move, according to the President, was part of measures introduced to mitigate the impact of the Coronavirus on Ghanaians.
Speaking at a press conference organised by the Information Ministry, Ghana’s Energy Minister, John-Peter Amewu said customers of Electricity Company of Ghana (ECG), Volta River Authority (VRA) and Northern Electricity Distribution Company (NEDCo) will be positively affected by the relief.
He explained that lifeline customer in Ghana is one who uses one television set, two bulbs, a table top refrigerator and a fan for a limited number of hours.
So any consumer with these appliances and uses them on daily basis is considered as a lifeline customer.
ECG’s customer population of one million (calculated in terms of metres) means that “at the current tariff level, the government is absorbing almost an amount of ₵8.5 million per month. For non-lifeline customers of which 2,780,886 are residential and 1,608 are special low tariff customers, a 50 percent discount on their electricity bill will translate to ₵235. 4 million per month.
“The total relief for ECG customers per month based on the estimated revenue is, therefore, ₵244 million, translating into ₵732 million for the three months,” Mr Amewu detailed.
The relief for all NEDCo customers, on the other hand, translates to about ₵47 million per month, totalling ₵141 million for the three-month period.
“This comprises a relief of about ₵10.9 million per month or ₵32.9 million for three months for a population of 5,069 life customers.”
For NEDCo’s non-life customers, who make 60.67 percent of its population, the government will be paying ₵36 million per month or ₵108 million for the three months.
The government is providing a total relief of ₵55.5 million per month for customers of the VRA. This figure translates to ₵166.4 million for three months.
“The VRA relief comprises 12 mining customers at ₵42.4 million per month or a total of ₵127.2 million for three months and a ₵4.8 million monthly relief totaling ₵14.4 million for the Volta Aluminum Company (VALCO),” Mr Amewu said.
He added that the bill for other manufacturing customers like Aluworks, Diamond Cement, Savanna Cement, Enclave Power Limited stands at ₵7.9 million per month, totalling ₵23.7 million for the three-month period.
“Overall, the government is providing a cumulative relief of an amount equivalent of one billion cedis, approximately covering a customer population of about 4.8 million metres across Ghana for the three month period,” he said.
Source: www.energynewsafrica.com
Ghana: Ghana Energy Awards Commends President Akufo-Addo For Announcing Free Electricity For Ghanaians
The organiser’s of Ghana Energy Awards (GEA), a private sector organisation, has commended the President of the Republic of Ghana Nana Akufo-Addo, for announcing free electricity for lifeline consumers.
President Akufo-Addo, last week, announced free electricity for lifeline consumers, as well as 50 percent rebate of electricity cost for commercial consumers.
The initiative is part of measures introduced by the government to minimise the impact of COVID-19 on Ghanaians.
In a statement copied to energynewsafrica.com, the GEA noted that “amongst some notable interventions to alleviate the economic burden on the citizenry are the three-month absorption of water bills, full absorption of electricity bills for all lifeline consumers and the fifty percent absorption of electricity bills for both residential and commercial consumers.
“The GEA commends the government for these initiatives, which will go a long way to help ease the hardships being faced by the ordinary Ghanaian during this period. Indeed, the country has risen to the occasion and our prestigious flag is being hoisted high,” the statement said.
The GEA also used the opportunity to appeal to energy sector players in Ghana to join the government in the fight against the spread of the Coronavirus and its impact on economic and social life.
“As has been observed, once a sector is affected, the rippling effect on other sectors is predictable. To complement ongoing initiatives, therefore, we encourage the sector’s stakeholders to support affected communities through various preventive efforts, as well as provision of support and relief items to persons within their areas of operation.”
The Ghana Energy Awards further commended various industry players and other private organisations for their generous donations to the COVID-19 Fund set up by the President.
GEA also commended frontline workers and those directly involved in the fight against COVID-19.
“We urge all stakeholders to keep safe and trust that as a nation, we will emerge out of this pandemic. We further implore all and sundry to adhere to the precautions spelt out by the President and the health authorities while supporting and being each other’s keeper,” the statement concluded.
Source: www.energynewsafrica.com
Kenya: Jared Othieno Appointed CEO Of Geothermal Development Company
Kenya’s Geothermal Development Company (GDC) has appointed Jared Othieno as its new Managing Director and Chief Executive Officer.
The appointment, which takes effect on April 19 will see Othieno head GDC for three years, replacing the outgoing managing director Johnson Ole Nchoe, who has served GDC in that position for a period of four years.
“On behalf of the board and management of GDC, I wish to congratulate Eng Othieno on his appointment and wish him success in the new role,” GDC Chairman John Njiraini said in a statement.
Njiraini continued: “I also wish to thank Eng Peterson P. Ole Nchoe for his service to GDC and particularly for the achievement attained during his tenure.”
Othieno, who holds a Bachelor’s Degree in Electrical Engineering and Master’s Degree in Business Administration from the University of Nairobi, was elected from an initial field of 64 applicants.
He has served in various roles at Kenya Power & Lighting Company, where he began his career rising to become acting managing director, a position he held for 15 months between July 2018 to October 2019.
Source: www.energynewsafrica.com
Nigeria: Rural Electrification Agency Connects COVID-19 Treatment Centres With Solar Power
Nigeria’s Rural Electrification Agency (REA) has handed over two completed solar hybrid mini-grids to health care facilities in Abuja and Lagos.
The projects include a 53.1kWp solar hybrid mini-grid installed at the University of Abuja Teaching Hospital COVID-19 Isolation Centre, 25kWp solar hybrid mini-grid at Nigeria Centre for Disease Control (NCDC) Public Health Laboratory in Lagos.
Two others that are yet to be handed are a 20kWp solar hybrid mini-grid at the 128 Bed Ikenne Isolation Centre, and the 10kWp solar-hybrid mini-grid at the 100 Bed Iberekodo isolation Centre in Ogun state.
“This initiative is being implemented by the Agency to complement the efforts of the federal and state governments as well as the private sector in containing the spread of the COVID-19 virus in the country,” REA said in a statement.
“Implementing these projects will provide clean, safe and reliable electricity to enable our health workers thrive towards the fight against this COVID-19 disease,” the statement added.
This is following the outlined intervention and palliative measures of President Muhammadu Buhari, in his national broadcast of 29 March and the Minister of Power directives on the role of REA in complementing the Federal Government’s efforts on COVID-19 in his press release of 31st March 2020.
The REA further stated: “Also, the Agency outlined measures towards containing COVID-19 in the country in a press release on 3rd April 2020 by providing emergency electrification of COVID-19 health centres across the country, collaboration with development partners on accelerating disbursement to qualifying developers as well as engaging the Central Bank of Nigeria through the Federal Ministry of Power towards the inclusion of energy companies under the COVID-19 intervention program of the bank.”
Central Bank of Nigeria said: “We applaud this generous gesture by the Rural Electrification Agency of providing these solar hybrid mini-grids to COVID-19 isolation centers and the public health laboratory in Lagos state. This will truly help our health workers in containing the spread of COVID-19 in the country.”
Source:www.energynewsafrica.com
“Implementing these projects will provide clean, safe and reliable electricity to enable our health workers thrive towards the fight against this COVID-19 disease,” the statement added.
This is following the outlined intervention and palliative measures of President Muhammadu Buhari, in his national broadcast of 29 March and the Minister of Power directives on the role of REA in complementing the Federal Government’s efforts on COVID-19 in his press release of 31st March 2020.
The REA further stated: “Also, the Agency outlined measures towards containing COVID-19 in the country in a press release on 3rd April 2020 by providing emergency electrification of COVID-19 health centres across the country, collaboration with development partners on accelerating disbursement to qualifying developers as well as engaging the Central Bank of Nigeria through the Federal Ministry of Power towards the inclusion of energy companies under the COVID-19 intervention program of the bank.”
Central Bank of Nigeria said: “We applaud this generous gesture by the Rural Electrification Agency of providing these solar hybrid mini-grids to COVID-19 isolation centers and the public health laboratory in Lagos state. This will truly help our health workers in containing the spread of COVID-19 in the country.”
Source:www.energynewsafrica.com Nigeria: GP Global Acquires Lubricant Assets Of Grand Petroleum
GP Global, a leading global energy-to-agriculture conglomerate, has made a strategic acquisition of the lubricants assets of Grand Petroleum, Nigeria’s leading lubricants player and part of the Nosak Group, in order to expand and strengthen its presence in Nigeria and West Africa.
The acquisition include assets such as – lubricants brand – HiSpeed and a state-of-the-art blending plant with an annual capacity of about 50,000 metric tonnes in Lagos, which includes storage tanks with a capacity of 6,000 kilolitres.
“Nigeria is one of the core markets for our lubricants and base oil business with a significant opportunity now opening up to expand our presence in Africa. We have already built a strong lubricant market share in India and the Middle East. Through local manufacturing and a strong distribution network in Nigeria, the acquisition will position us one of the fastest-growing global lubricants and base oil businesses,” Sudip Shyam, Global Head- Lubricants & Base Oil, GP Global said.
He said that GP Global is fully committed to supporting the local economy and will focus on unlocking the true potential of the lubricants and base oil business in the continent through this strategic acquisition.
It will also strengthen the base oil market of GP Global, by leveraging on the storage and ability to import premium base oils for distribution.
“This is a strategic acquisition by GP Global that will consolidate our presence in key African markets. The strong manufacturing competencies that we gain through the acquisition of a wide range of lubricants, and the advantage we gain in base oil trade will add to our market share. With this acquisition, we aim to grow our business of oil and agricultural products as well as build a strong retail network in Africa,” Ajay Pandey, COO for Nigeria, GP Global said.
GP Global will lead the operations of the newly acquired business with a strong team of Nigerians, several of them already part of the existing team.
The operations of the Nigerian company are certified by the Standards Organisation of Nigeria as part of the MANCAP (Mandatory Conformity Assessment). It has built strong competencies in the manufacturing and sale of lubricant oils, toll blending, engine oils, hydraulic oils, automobile fuels and lubrication, industrial fuels and lubrication, and other specialty oils.
GP Global is also a leading lubricants player in UAE and India, where it has high-end manufacturing units in the industrial and automotive lubricants sector. The company recently announced setting up of a new blending plant in India and aims to process 500 million litres of lubricants across India, Middle East and West Africa this year.
Source: www.energynewsafrica.com