$100 billion investment needed annually to meet Africa’s electricity demand

  • 📰 PremiumTimesng
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 78%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

She explained that Africa is being faced with several challenges including a low electrification rate, low agricultural yields, the lowest integration rate, and a deficit in advanced structures

SCORECARD: Under Tinubu, Nigeria’s education sector yet to see renewed hopeSPECIAL REPORT: Rising cost of sanitary pads impedes menstrual hygiene among Nigerian womenSPECIAL REPORT: Enugu community where residents rely on polluted river, deplorable PHCSPECIAL REPORT: Insecurity, other factors limit cashew farming in NigeriaINVESTIGATION: Inside illegal operations of mining firm responsible for Ibadan fatal explosionSPECIAL REPORT: Kaduna ginger farmers count losses as disease ravages crop,...

“And when we see the energy needs, it is important to highlight that to satisfy the increasing African electricity demand, a large investment of over $100 billion is needed annually in the power sector by 2030,” Ms Benkhadra said. She added that Morocco would continue to work with Nigeria and other African countries to ensure the delivery of the Nigeria-Morocco Atlantic Gas Pipeline project estimated to cost over $25 billion.

“We have the opportunity to leverage these resources not only to meet our energy needs but also to drive sustainable development. Technological innovation lies at the heart of our endeavour. From exploration and production to transportation and utilisation, advancements in gas technology are revolutionising the sector.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How procurement fraud stalled $100 million malaria project in Nigeria — MinisterMr Pate also said a Nigerian company, which had earlier won the bidding for the project, was disqualified and blacklisted from all UN contracts for three years.
Source: PremiumTimesng - 🏆 3. / 78 Read more »