Nigeria’s President, Bola Tinubu, has been praised for fostering a more conducive investment environment that has helped restore investor confidence in the country.
According to Shell Plc’s Chief Executive Officer, Mr. Wael Sawan, the energy major, alongside its partners, is prepared to commit an additional $20 billion in investments in Nigeria, citing the improved investment climate.
Mr. Sawan made the remarks during a meeting with President Tinubu at the Presidential Villa, where he credited the President’s “robust and bold leadership” as the key driver behind Shell’s renewed investment interest.
“We have really been in a space where we are very keen to invest in Nigeria. But I would say this has not always been the case,” Sawan said.
“Your leadership and your vision have created an investment climate over the last few years that, I will be very honest with you, propelled us to invest—particularly when compared with other investment destinations around the world,” he added.
According to a statement issued on Sunday by the President’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga, Sawan further noted that stability now commands a premium for global corporates.
“Stability in today’s environment honestly carries a premium because we are investing not for one administration or five or 10 years, but for 20, 30, 40 years—and in the case of Nigeria, for many decades,” he said.
The Shell CEO highlighted the company’s recent investments in Nigeria, including $5 billion in the Bonga North project, $2 billion in the HI project, and continued contributions to gas development at Nigeria LNG (NLNG).
He described Shell’s renewed commitment as a “sea change” from previous years when the company had scaled back investments in the country.
On expansion plans, Sawan disclosed that Shell has increased its stake in Oil Mining Lease (OML) 118—the Bonga Block—following the acquisition of assets from TotalEnergies.
He also revealed plans for the Bonga Southwest project, which could attract an estimated $20 billion investment if it reaches Final Investment Decision (FID), with roughly half allocated to capital expenditure and the remainder to operating costs.
“This will be one of the biggest energy projects in the world,” Sawan said, adding that further opportunities, including Bonga South, remain in the pipeline.
The Shell CEO also commended the professionalism of President Tinubu’s team, stating: “Your team is among the best we deal with anywhere in the world, and that professionalism gives us—and our partners—the confidence to continue investing.”
In response, President Tinubu approved the gazetting of targeted, investment-linked incentives to support the Bonga Southwest deep offshore oil project.
He directed his Special Adviser on Energy, Mrs. Olu Arowolo-Verheijen, to facilitate the incentives within Nigeria’s legal and fiscal frameworks.
“These incentives are not blanket concessions,” the President said.
“They are ring-fenced and investment-linked, focused on new capital, incremental production, strong local content delivery, and in-country value addition. My expectation is clear: Bonga Southwest must reach Final Investment Decision within the first term of this administration.”
GOIL PLC, an indigenous oil marketing company, has formally handed over two renovated office spaces to the Department of Sociology at the University of Ghana, reaffirming its commitment to supporting quality and accessible education under its Corporate Social Investment (CSI) agenda.
The offices, which had suffered wear and tear over the years and were no longer conducive to academic and administrative work, were renovated by GOIL following a request from the Head of the Department, Prof. Peace Mamle Tetteh.
The project has restored the Department’s General Administrative Office as well as the Office for Graduate Assistants and National Service Personnel, transforming them into functional and welcoming spaces for faculty members, staff, and students.
Speaking at the handover ceremony, Prof. Tetteh recounted several attempts made to corporate organisations for support and expressed her appreciation to GOIL PLC for not only responding but doing so promptly.
She particularly commended GOIL’s Group Chief Executive Officer and Managing Director, Mr. Edward Abambire Bawa, for helping to turn the Department’s long-held aspiration into reality.
The Dean of the School of Social Sciences, Prof. Mavis Dako-Gyeke, also praised GOIL for responding in a timely manner and for its support to the academic community.
She expressed hope that the partnership between GOIL and the Department of Sociology would continue and be extended to the wider School of Social Sciences.
She noted that the initiative aligns with the University of Ghana’s strategic goal of building enduring partnerships to create transformative experiences for students.
Delivering remarks on behalf of GOIL, the Chief Operating Officer, Dr. Marcus Deo Dake, said the initiative reflects the company’s commitment to contributing meaningfully to national development through education.
He added that the project aligns with one of GOIL’s key CSI pillars—supporting access to quality and inclusive education—in line with the United Nations Sustainable Development Goal 4 (SDG 4).
Dr. Dake thanked the Department of Sociology and the University of Ghana for the opportunity to extend GOIL’s “Good Energy” to the academic community.
Also present at the ceremony were GOIL’s Head of Fuels Marketing, Mr. Emmanuel K. Agyiri; the Group Chief Finance Officer, Mr. Robert Nii Lartey; as well as lecturers and students of the Department of Sociology.
The handover marks another milestone in GOIL’s commitment to national development through education and human capital investment, reinforcing its role as a strategic national institution contributing to Ghana’s progress beyond energy supply.
India’s state-owned refiner, Bharat Petroleum Corporation Limited (BPCL), is set to sign an oil supply agreement with Brazilian state energy giant Petrobras for the delivery of 12 million barrels of crude, valued at approximately $780 million, Oilprice.com has reported, citing Reuters.
The agreement is expected to be signed during the India Energy Week 2026 forum, scheduled for January 27–30 in Goa, according to a statement by the Indian government on Friday carried by Reuters.
Indian refiners, including BPCL, are seeking to diversify crude supply sources following U.S. sanctions on Russia’s top oil producers, Rosneft and Lukoil. The sanctions have forced the world’s third-largest crude importer to find alternatives to the significant volumes of Russian oil it previously purchased.
In October, Petrobras signed a separate oil sales contract with another Indian state-owned refiner, Hindustan Petroleum Corporation (HPCL), providing for the supply of up to six million barrels of crude over a one-year period.
Earlier this week, refining and trading sources told Reuters that BPCL awarded spot tenders to purchase Iraqi and Omani crude, as Indian refiners increase supplies from the Middle East to partially offset volumes lost from Russia following the sanctions.
All Indian refiners have stated they will comply with the U.S. sanctions on Rosneft and Lukoil, with Russian oil supplies to India now falling to a three-year low.
In addition, BPCL is reportedly seeking spot cargoes of Murban crude from the United Arab Emirates (UAE) through a separate tender, according to Reuters sources.
In recent weeks, India’s refiners have significantly increased purchases of non-Russian crude to avoid straining relations with the United States amid challenging India-U.S. trade negotiations.
Meanwhile, the country’s largest state refiner, Indian Oil Corporation, is also said to have bought several crude cargoes from Angola, Brazil, and the UAE to replace sanctioned Russian barrels.
President of The Gambia, H.E. Adama Barrow, is set to inaugurate electricity access projects benefiting 719 communities nationwide from February 7 to 15, 2026.
The projects are expected to enhance service delivery, stimulate local economic activities, and improve the quality of life in beneficiary communities, particularly in rural and underserved areas.
Funding is being provided by multilateral development partners, including the World Bank, the European Union, the European Investment Bank, and the African Development Bank Group, under initiatives such as The Gambia Electricity Restoration and Modernisation Project (GERMP), The Gambia Electricity Access Project (GEAP), and the ECOWAS Regional Electricity Access Project (ECOREAP).
In a joint statement, the Ministry of Petroleum, Energy and Mines and the National Water and Electricity Company (NAWEC) said the inaugurations underscore the Government’s commitment to achieving universal electricity access.
The inauguration ceremonies will be held daily from 16:00 to 19:00 hours, beginning February 7, 2026, across the North Bank Region, Central River Region–North, Upper River Region–North, and Upper River Region–South.
The Gambia has made steady progress in expanding electricity access, particularly in rural areas, with national electrification currently estimated at about 75 percent.
The newly completed projects support the country’s ambition to achieve universal electricity access by late 2026 and are expected to further drive socio-economic development.
South Africa’s power utility, Eskom, has confirmed a gun attack on two of its employees—a husband and wife—working at the Kriel Power Station, who were shot while travelling home from work.
In a statement issued on Saturday, 24 January 2026, Eskom said the husband sustained fatal injuries and died at the scene, while his wife was hospitalised and is currently receiving medical care.
Speculation has circulated on social media suggesting that the killing may be linked to a workplace conflict. However, Eskom said it is premature, irresponsible, and inappropriate to make definitive claims or accusations at this stage.
The company urged the public and the media to refrain from spreading unverified information and to await the outcome of investigations being conducted by the South African Police Service and other relevant authorities.
“We urge the public and the media to refrain from repeating unverified claims or speculation, and to allow law enforcement the necessary space to complete their investigation process,” Eskom said.
“Eskom is working closely with the authorities to assist with the investigation,” it added.
According to the utility, support is also being provided to the affected family and staff members during this difficult period.
Eskom pledged to share relevant updates as information becomes available.
“Our thoughts are with the family, colleagues, and all those affected by this tragic incident,” the company said.
Italian oil and gas major Eni has signed a binding agreement to sell a 10% stake in the Baleine offshore oil and gas project in Côte d’Ivoire to SOCAR, the State Oil Company of the Republic of Azerbaijan.
Eni announced the deal in a statement issued on Thursday, 22 January 2026.
Completion of the transaction remains subject to regulatory approvals and customary closing conditions.
The transaction reduces Eni’s operating stake in the project to 37.25%, while its partner Vitol retains a 30% interest. Côte d’Ivoire’s state oil company, Petroci, will continue to hold the remaining 22.75% stake.
The deal aligns with Eni’s “dual exploration model,” under which the company accelerates the monetisation of major discoveries by selling minority stakes while retaining operatorship.
This approach has become a core pillar of Eni’s upstream strategy as it seeks to recycle capital, reduce risk exposure, and fund new developments.
The Baleine field is a landmark asset for both Eni and Côte d’Ivoire. Discovered in 2021—two decades after the country’s last commercial offshore find—the giant field moved from discovery to first production in just two years, an unusually rapid timeline for a deepwater African project.
Production began in 2023, making Baleine Eni’s first operated development in the country.
Baleine is also positioned as Africa’s first net-zero emissions upstream development, incorporating gas utilisation, reduced flaring, and offset measures.
The project currently produces more than 62,000 barrels of oil per day and over 75 million cubic feet of gas per day from its first two phases.
With Phase 3 planned, output is expected to rise sharply to around 150,000 barrels per day of oil and 200 million cubic feet per day of gas, significantly boosting domestic energy supply in Côte d’Ivoire and supporting power generation.
For SOCAR, the acquisition marks another step in expanding its international upstream footprint beyond Azerbaijan and the Caspian region.
The deal also builds on a broader cooperation framework between the two companies. In 2024, Eni and SOCAR signed three memoranda of understanding covering energy security, upstream exploration and production, greenhouse gas emissions reduction, and collaboration across the biofuels value chain.
The transaction underscores growing international interest in West African offshore resources, particularly large, gas-rich developments capable of supporting both export markets and domestic demand.
It also highlights the continued appeal of partial asset sales as a capital-management tool for majors, even as upstream investment becomes more selective amid energy transition pressures.
The Nigerian Independent System Operator (NISO) has explained that the national electricity grid collapsed on Friday due to the simultaneous tripping of multiple 330kV transmission lines and the disconnection of some power generation units.
The national grid collapsed at about 12:40 pm on Friday, disrupting electricity supply across the country and halting business activities.
All 23 power plants connected to the grid reportedly lost output during the incident, resulting in zero power allocation to the eleven electricity distribution companies in Africa’s most populous nation.
In a preliminary statement issued on Friday, NISO explained that the system-wide disturbance occurred at about 12:40 pm and led to a total outage across the interconnected network.
“The Nigerian Independent System Operator wishes to inform the public that at approximately 12:40 hours on Friday, 23 January 2026, the national grid experienced a system-wide disturbance, which resulted in a total outage across the interconnected network,” the operator stated.
According to NISO, preliminary operational reports showed that “the disturbance was associated with the simultaneous tripping of multiple 330kV transmission lines, alongside the disconnection of some grid-connected generating units.”
It added that “these events collectively contributed to the system collapse at the time indicated.”
The system operator said restoration activities began shortly after the collapse.
“Following the outage, system restoration activities commenced at about 13:15 hours, in accordance with established grid restoration and recovery procedures,” the statement read.
NISO said electricity supply had been restored to Abuja, Osogbo, Benin, Onitsha, Sakete, Jebba, Kainji, Shiroro, and parts of Lagos, while efforts were ongoing in other parts of the country.
The operator added that investigations into the incident had begun.
“A detailed investigation into the root and contributory causes of the disturbance is currently ongoing,” it said, adding that “the full restoration and stabilisation of the grid remains a top operational priority.”
EemsGas—one of the largest green gas production facilities in the Netherlands, with an investment of €100 million—has received €30 million in DEI+ investment subsidies from the Dutch government, Perpetual Next, which holds a 50% stake in EemsGas, has announced.
According to Perpetual Next, the subsidy will be used for the construction of a plant that produces green gas from scrap wood.
The subsidy award—almost one-third of the total investment—is the result of a technical and economic evaluation of the project, its contribution to the energy transition, and the financial commitment of the shareholders.
The EemsGas project aligns closely with the recommendations of the Wennink Report on public investments in energy and climate technology, published in December.
For the Netherlands, the new plant represents an opportunity to significantly scale up green gas production, based on the gasification of demolition wood, using a blueprint that can be replicated at other locations in the country and beyond.
EemsGas has partnered with TNO (the Dutch Organization for Applied Scientific Research), which is supplying the gasification technology for the project.
The plant, featuring cutting-edge technology, will produce 18 million cubic metres of green gas per year—many times the output of conventional green gas production facilities.
The Ghana Grid Company Limited (GRIDCo) led by its Board Chairperson visited the Tema Oil Refinery on Wednesday to learn about the refinery’s resumption of crude refining after more than six years of dormancy.
The refinery restarted crude refining in late December 2025 after major maintenance work.
It is currently processing 28,000 barrels per stream day, and management hopes to bring additional units online to increase processing capacity to 45,000 barrels per stream day and eventually 55,000 barrels per stream day.
The visit by GRIDCo top officials aimed to officially congratulate TOR’s management on restoring refinery operations after prolonged inactivity.
The delegation also explored collaboration avenues between GRIDCo and TOR, supporting the Government’s reset agenda, particularly in strengthening strategic state-owned enterprises.
The GRIDCo delegation included its Board Chairperson, Mrs. Kuukua Maurice Ankara, Esq., board members, the Chief Executive Officer, Ing. Mark Awuah Baah and senior management officials.
They were warmly received by Mr. Edmond Kombat, Esq., Managing Director of TOR, and his management team.
The resumption of operations at TOR marks a historic milestone, reaffirming its readiness to strengthen Ghana’s downstream petroleum industry and deliver value to Ghanaians.
Mr. Edmond Kombat, Esq. (left), Managing Director of Tema Oil Refinery, shakes hands with Ing. Mark Awuah Baah (right), Chief Executive Officer of Ghana Grid Company Ltd.
Workers of the Kano Electricity Distribution Company (KEDCO) have suspended their industrial action following what has been described as productive engagements with management and the resolution of key grievances.
The workers commenced an indefinite strike on Wednesday over alleged poor working conditions, resulting in electricity supply disruptions across the Kano metropolis and surrounding areas, and crippling economic activities.
However, KEDCO, in a statement issued on Friday by its Head of Corporate Communications, Sani Bala Sani, announced that the workers had suspended the ongoing industrial action after productive engagements and concrete resolutions were reached by all parties.
“We particularly would like to highlight the efforts of the Nigerian Labour Congress (NLC), the Bureau of Public Enterprises (BPE), Future Energies Africa (FEA)—the core investors in KEDCO—and the Kano State Ministry of Power and Renewable Energy for their constructive roles in resolving the impasse,” the statement said.
According to the DisCo, addressing inherited issues such as unpaid pension obligations, employee emoluments, and benefits has been a major focus of the company following the restructuring exercise that saw FEA emerge as the new core investor.
Sani noted that the company is making steady progress and is confident that its current plans and trajectory will resolve “these inherited issues.”
Following extensive consultations and negotiations, he said several agreements had been reached with the workers.
As part of the settlement of outstanding arrears, KEDCO has paid 13th-month salary arrears amounting to ₦150 million and appraisal bonuses of ₦20 million, dating back to 2019 and 2022 respectively, bringing the total payment to ₦170 million.
The company said this demonstrates management’s commitment to honouring its obligations to the workforce.
The statement further noted that KEDCO has committed to settling the 2025 13th-month salary arrears of ₦174 million in the February 2026 salary cycle, alongside regular salary payments.
It added that an expanded meeting involving representatives from the NLC Secretariat, electricity labour unions, and the KEDCO Board will be convened to address other pending and complex issues. This collaborative approach, the company said, is aimed at ensuring lasting solutions that serve the interests of all parties.
“Based on these agreements, the industrial action has been suspended with immediate effect. All parties have also committed to a no-victimisation clause, ensuring that no worker or stakeholder will face reprisals arising from the action,” the statement said.
KEDCO management expressed appreciation to its customers for their understanding and patience during the period of the strike, adding that enhanced resolution frameworks are being developed to prevent a recurrence.
“With the suspension of the industrial action, normal operations have resumed across all our service areas. We assure our customers of our continued dedication to providing a reliable and efficient electricity supply.
“We remain committed to improving service delivery, maintaining harmonious labour relations, and ensuring sustainable operations that benefit all stakeholders,” the statement concluded.
Nigeria’s national power grid has collapsed for the second time in less than a month, plunging parts of the country into darkness and disrupting electricity supply to millions of households and businesses, according to local media reports.
Electricity generation reportedly dropped sharply from over 4,500 megawatts to as low as 24 megawatts at about 1:30 p.m. during the incident.
All 23 power generation plants connected to the national grid were said to have lost output, resulting in zero power allocation to each of the country’s 11 electricity distribution companies.
The cause of the collapse could not be immediately determined, and officials of the Transmission Company of Nigeria (TCN) had yet to issue a detailed statement at the time of filing this report.
This is the first grid collapse recorded in 2026, coming barely weeks after a similar incident on December 29, 2025, which also triggered widespread power outages across the country.
Nigeria has continued to struggle with grid stability and reliable electricity supply due to a combination of technical faults, inadequate maintenance of transmission infrastructure, and fluctuations in generation capacity.
Stakeholders have repeatedly called on the government and power sector operators to implement robust contingency measures to prevent recurring system failures.
As the public awaits an official explanation, the latest collapse has renewed concerns about Nigeria’s electricity infrastructure and its capacity to support the country’s growing demand for reliable power.
Malawi’s Minister for Energy and Mining, Dr. Jean Mathanga, has justified the government’s decision to hike petrol and diesel prices by more than 40 percent.
This comes amid public anger over the government’s sharp increase in fuel prices.
Addressing a press conference last Wednesday, Dr. Mathanga explained that Malawi’s fuel prices had remained lower than those of neighbouring countries because the Automatic Pricing Mechanism (APM) had been abandoned over the past three years, a move that negatively affected the collection of road levies.
She noted that during the previous administration, fuel became scarce, forcing motorists to spend long hours queuing for the commodity. According to her, the recent upward adjustment in fuel prices is expected to eliminate such challenges, as the current government has reinstated the APM to ensure a consistent fuel supply.
The minister further observed that the fixed fuel prices used by the previous administration encouraged fuel smuggling, as price differentials with neighbouring countries made the practice rampant. She added that adopting realistic fuel pricing would help curb smuggling.
Petrol prices were increased from MKW 3,499 to MKW 4,965 per litre, while diesel prices rose from MKW 3,500 to MKW 4,945 per litre—representing increments of MKW 1,466 and MKW 1,445 respectively.
In a statement issued by the Malawi Energy Regulatory Authority (MERA) and signed by its Board Chairperson, Lucas Kondowe, the regulator explained that the price hikes were intended to sustain the importation of petroleum products.
The Board noted that historically, MERA had adopted an Automatic Pricing Mechanism under which movements in pricing model parameters of more than five percent trigger automatic price adjustments. However, the mechanism was abandoned over the past three years in favour of a fixed pricing regime, which proved to be commercially unsustainable.
“This led to significant trading losses, resulting in the inability to import adequate petroleum products and to remit economically important levies such as the Road Levy to the Road Fund Administration (RFA) and the Rural Electrification Levy to the Malawi Rural Electrification Programme (MAREP) Fund,” the statement said.
MERA added that the situation contributed to the deterioration of roads nationwide and delayed the implementation of key MAREP projects across the country.
Venture Global, a U.S.-focused liquefied natural gas (LNG) producer, has won its second arbitration case against Spain’s Repsol, Oilprice.com reported on Thursday.
In 2023, Shell, BP, Repsol, and other major oil and gas companies accused Venture Global of profiteering by selling LNG cargoes on the higher-priced spot market that they argued should have been supplied under long-term contracts.
Repsol subsequently filed an arbitration case against the U.S. firm.
The dispute centers on Venture Global’s Calcasieu Pass LNG export project in Louisiana. Venture Global had signed long-term supply agreements with several energy majors, under which LNG deliveries were expected to begin once the facility entered commercial operations.
During the global gas crisis of 2021–2022—triggered by post-pandemic demand, supply constraints, and later intensified by Russia’s invasion of Ukraine—spot LNG prices surged, particularly in Europe.
During this period, Venture Global sold significant volumes of LNG on the spot market, generating billions of dollars in revenue.
Venture Global argued that it was contractually entitled to do so because Calcasieu Pass had not yet been officially commissioned.
Under the terms of its contracts, the company maintained that its obligation to supply LNG under long-term agreements only began after formal commissioning.
To that end, Venture Global extended the commissioning deadline for Calcasieu Pass while continuing to produce and export LNG.
In August, Shell lost its arbitration case against Venture Global after a tribunal ruled that the U.S. company had not violated its contractual obligations to long-term customers. Two months later, however, a court ruled in favor of another plaintiff, BP. Venture Global has now also prevailed in a separate arbitration case brought by Repsol.
Meanwhile, Venture Global built a second LNG facility, which produced its first LNG cargo at the end of 2024—before the Calcasieu Pass project was officially commissioned.
The prolonged dispute has raised concerns among investors with stakes in Venture Global’s second LNG project, Plaquemines.
Those concerns were compounded when Venture Global asked the Federal Energy Regulatory Commission to delay Plaquemines’ official commissioning, prompting fears that the company could again prioritize spot-market sales.
In October last year, Venture Global wrote to its customers to reassure them that it had no plans to sell LNG on the spot market before the facility’s commissioning.
The companies currently suing Venture Global are investors in its first LNG facility, Calcasieu Pass.
In 2022, Venture Global earned billions of dollars from spot LNG sales amid Europe’s gas crunch, which began in late 2021 and intensified following Russia’s invasion of Ukraine and the EU’s subsequent sanctions.
The Sustainable Use of Natural Resources and Energy Finance (SUNREF) programme, implemented with financial support from the European Union (EU) and Agence Française de Développement (AFD), officially concluded on Thursday, January 22, 2026.
This marks a major milestone in Ghana’s efforts to promote sustainable finance, climate-friendly investment, and private sector-led green growth.
The closing ceremony, hosted by the Energy Commission (EC) of Ghana at the Nearly Zero-Energy Building (nZEB) in Accra, capital of Ghana brought together high-level representatives from the Government of Ghana, the Ambassadors of France and the European Union, the Country Director of AFD, partner financial institutions—CAL Bank and GCB Bank—project developers, and other key stakeholders.
SUNREF Ghana, hosted by the Energy Commission, was designed to promote private sector investment in renewable energy, energy efficiency, and environmentally sustainable projects, while strengthening the capacity of local financial institutions to originate and manage green finance portfolios.
The programme combined dedicated credit lines of €30 million from AFD, €2 million in technical assistance from the EU Africa Infrastructure Trust Fund, and investment grants amounting to €2.4 million.
These instruments provided additional incentives to improve the financial viability of eligible green investments and supported the adoption of cleaner and more efficient technologies.
Through SUNREF Ghana, partner banks enhanced their capacity to assess and finance sustainable projects, while eligible enterprises gained access to long-term financing and targeted incentives.
The programme delivered measurable climate and environmental benefits in line with Ghana’s national energy and climate policies.
Under SUNREF Ghana, seven (7) projects have been completed, representing a total loan portfolio of approximately US$20 million. In addition, four (4) projects with an estimated loan value of US$5.5 million are currently under assessment by the partner banks.
The completed projects achieved significant climate and energy outcomes, including estimated annual energy savings of 7,736 megawatt-hours (MWh), the installation of 0.8 megawatts (MW) of renewable energy capacity, and annual greenhouse gas emission reductions of about 139,020 tonnes of carbon dioxide (CO₂).
This performance significantly exceeded the programme’s initial target of 13,300 tonnes of CO₂ equivalent.
Speaking at the event, representatives of the EU, AFD, and the French Embassy in Ghana underscored that SUNREF Ghana forms part of broader EU–Ghana and France–Ghana cooperation aimed at supporting sustainable economic development, climate action, and private sector engagement.
The programme, they noted, demonstrates how EU- and AFD-supported financial instruments can mobilise local financial institutions and businesses to deliver tangible climate and development outcomes.
During the ceremony, the EU Ambassador to Ghana, H.E. Mr. Rune Skinnebach, and the French Ambassador, H.E. Ms. Diarra Dimé-Labille, highlighted the success of the SUNREF programme as the first comprehensive green finance initiative deployed at scale in Ghana, contributing significantly to the development of a sustainable finance ecosystem in the country.
Senior officials from the European Union, the French Embassy, AFD, and partner banks—CAL Bank and GCB Bank—were present at the event.
The Acting Executive Secretary of the Energy Commission, Ing. Eunice A. Biritwum noted that the SUNREF Ghana Programme has provided a strong platform for Ghana as it advances its energy transition and climate resilience agenda.
She highlighted the achievements and lessons learned from the programme, stating that it demonstrated how climate finance can work effectively when it is well structured, locally anchored, and results-oriented.
She said these lessons will continue to inform how the Energy Commission designs and implements future climate finance initiatives in Ghana. According to her, the formal closure of the SUNREF Ghana Programme does not mark the end of the collective journey towards sustainability.
Rather, she emphasised that “the true success of SUNREF will be measured by how its principles are mainstreamed and scaled—within partner banks, across new sectors and technologies, and through future EU/AFD-supported programmes.”
Clémentine Dardy, AFD Country Director, lauded the institutional collaboration that ensured the successful execution of the programme, highlighting the bank’s role in advancing green energy projects and climate financing.
Clémentine Dardy, AFD Country Director
Commenting, EU Ambassador Rune said SUNREF Ghana was never only about carbon numbers, but rather building capacity that lasts beyond the project itself.
He said through the program, partner banks learned that even sunshine can be bankable.
As the SUNREF programme concludes, stakeholders emphasised the need to build on its achievements to further scale up sustainable finance in Ghana, strengthen climate-resilient investments, and support the country’s commitments under the Paris Agreement and its updated Nationally Determined Contributions (GH-NDCs).
The successful completion of the programme has significantly transformed the landscape of renewable energy and energy efficiency in Ghana.
Continued visibility and replication of such interventions are expected to enhance the profile of the Energy Commission and attract additional funding to support its promotional and regulatory activities.
The programme ended with a tour of The Nexus, nearly Zero Energy Building located at the Airport Residential area by OMA Group.
He added that the project aligns with one of GOIL’s key CSI pillars—supporting access to quality and inclusive education—in line with the United Nations Sustainable Development Goal 4 (SDG 4).
Dr. Dake thanked the Department of Sociology and the University of Ghana for the opportunity to extend GOIL’s “Good Energy” to the academic community.
Also present at the ceremony were GOIL’s Head of Fuels Marketing, Mr. Emmanuel K. Agyiri; the Group Chief Finance Officer, Mr. Robert Nii Lartey; as well as lecturers and students of the Department of Sociology.
The handover marks another milestone in GOIL’s commitment to national development through education and human capital investment, reinforcing its role as a strategic national institution contributing to Ghana’s progress beyond energy supply.
The visit by GRIDCo top officials aimed to officially congratulate TOR’s management on restoring refinery operations after prolonged inactivity.
The delegation also explored collaboration avenues between GRIDCo and TOR, supporting the Government’s reset agenda, particularly in strengthening strategic state-owned enterprises.
The GRIDCo delegation included its Board Chairperson, Mrs. Kuukua Maurice Ankara, Esq., board members, the Chief Executive Officer, Ing. Mark Awuah Baah and senior management officials.
They were warmly received by Mr. Edmond Kombat, Esq., Managing Director of TOR, and his management team.
The resumption of operations at TOR marks a historic milestone, reaffirming its readiness to strengthen Ghana’s downstream petroleum industry and deliver value to Ghanaians.
The statement further noted that KEDCO has committed to settling the 2025 13th-month salary arrears of ₦174 million in the February 2026 salary cycle, alongside regular salary payments.
It added that an expanded meeting involving representatives from the NLC Secretariat, electricity labour unions, and the KEDCO Board will be convened to address other pending and complex issues. This collaborative approach, the company said, is aimed at ensuring lasting solutions that serve the interests of all parties.
“Based on these agreements, the industrial action has been suspended with immediate effect. All parties have also committed to a no-victimisation clause, ensuring that no worker or stakeholder will face reprisals arising from the action,” the statement said.
KEDCO management expressed appreciation to its customers for their understanding and patience during the period of the strike, adding that enhanced resolution frameworks are being developed to prevent a recurrence.
“With the suspension of the industrial action, normal operations have resumed across all our service areas. We assure our customers of our continued dedication to providing a reliable and efficient electricity supply.
“We remain committed to improving service delivery, maintaining harmonious labour relations, and ensuring sustainable operations that benefit all stakeholders,” the statement concluded.
