- Vice President Kashim Shettima departed Abuja for Abidjan, C?te d’Ivoire, to attend the SIREXE 2024 Conference from November 27 to December 2. Invited by C?te d’Ivoire’s Vice President Tiémoko Meyliet Koné, Shettima will share Nigeria's expertise in hydrocarbon exploration and production at the event, which focuses on policies and strategies for the sustainable development of extractive and energy industries.
- The Nigerian National Petroleum Company Limited (NNPCL) announced that the Port Harcourt Refinery has officially begun operations, marking a significant milestone for Nigeria's energy independence and economic growth. The refinery's commencement of crude oil processing is seen as a key development for the nation's energy sector.
- Governor Babajide Sanwo-Olu called for collaboration between states and the Federal Government to achieve a sustainable energy future, highlighting the importance of the Electricity Act, policy harmonization, and investments in renewable energy. Meanwhile, Ogun State pledged to adopt circular economy practices for industrial growth during a UNIDO-led discussion on advancing Nigeria's transition to net-zero emissions.
- China’s new renewable energy plan, launched in October 2024, aims to boost renewable energy consumption through infrastructure upgrades and sector integration. Targeting 1 billion tons of SCE by 2025 and 5 billion tons by 2030, the plan focuses on demand-driven growth, creating opportunities in grid modernization, electrification, green hydrogen, and sustainable mobility.
- The Nigeria Extractive Industries Transparency Initiative (NEITI) warned that the global shift to cleaner energy could harm Nigeria's economy, with oil and gas revenue dropping by 15% between 2022 and 2023. The agency urged faster reforms and economic diversification. While the energy transition offers opportunities for innovation and job creation, it also poses risks to revenue stability and energy access, especially for vulnerable populations.
- The UK is boosting the Philippines’ renewable energy with two key projects. On November 20, the British Embassy celebrated a partnership between Citicore and UK-based Actis to develop four wind farms with 380 MW capacity. The next day, Actis broke ground on the Terra Solar Project, the country’s largest solar project, backed by $600 million. These investments highlight the UK’s support for the Philippines' transition to cleaner, sustainable energy.
- Nigeria has launched the AGORA project to reduce greenhouse gas emissions by replacing outdated refrigeration and air-conditioning equipment with energy-efficient, low-GWP alternatives. The three-year initiative, in collaboration with UNEP, UNDP, and others, aims to drive market transformation and support Nigeria’s climate goals, aligning with the Montreal Protocol and Kigali Amendment.
- The International Extractive and Energy Resources Exhibition (SIREXE 2024), starting November 27 in Abidjan, C?te d'Ivoire, will bring global experts together to drive investment in Africa’s extractive and energy sectors. With Norway as the guest of honor, the event aims to showcase Africa’s potential, featuring 300+ exhibitors and 20,000 visitors. C?te d'Ivoire, with growing mining and oil discoveries, seeks to strengthen its extractive sector and expand energy production.
- Lagos State is partnering with Oando Clean Energy to convert waste into energy and alternative fuels, reducing methane emissions and environmental hazards. The project aims to create jobs, support economic growth, and reduce carbon emissions, with the help of advanced technology and expertise from Chinese partners.
- Nigeria has contributed $69.1 million to the African Energy Bank (AEB), which will focus on financing energy projects across Africa. The AEB, with a $5 billion capital, will begin operations in Abuja on January 28, 2025, and Nigeria will host its headquarters. The bank aims to address financing gaps in Africa's energy sector.
- At COP29's Energy Day, NNPC Ltd participated in the OGDC session on decarbonizing the oil and gas industry, reviewing progress since COP28 and sharing strategies for achieving net-zero emissions. Key themes included collaboration with NGOs and governments, reducing Scope 1, 2, and 3 emissions, and the need for accelerated action and stronger partnerships by 2025.
