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Lese-Ansicht

Cash Crunch Drives Nigerian Power Producers Out of Business

A number of heavily indebted Nigerian power producers have ceased operating because their customers aren’t settling their bills and they can’t afford to run their equipment or pay for gas supplies.

A customer displays newly-designed Nigerian 1000 naira banknotes, withdrawn from an automated teller machine (ATM) outside a Zenith Bank Plc branch in Lagos, Nigeria, on Saturday, Feb. 4, 2023. Central Bank Governor Godwin Emefiele has defended his decision to replace 2.7 trillion naira ($5.85 billion) of cash outside the banking system even as scenes of chaos have unfolded all over Nigeria, where the vast majority of transactions are still done in cash.
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Africa Solar Capacity Seen Rising Sixfold After 2025 Record

Africa recorded its fastest solar growth on record in 2025, driven by a surge in utility-scale projects, and could add more than six times last year’s annual capacity by 2029, according to a new industry report.

Photovoltaic solar panels cover car parking spaces at a Makro wholesale store, operated by Masstores (Pty) Ltd., in Johannesburg, South Africa, on Friday, Aug. 18, 2023.
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Nigeria Plans $352 Million Green Bond Sales for Climate Projects

Nigeria plans to raise as much as 500 billion naira ($352 million) through green bonds this year, tapping strong investor appetite as Africa’s biggest oil producer turns to climate-linked debt to fund environmental projects and diversify its financing base.

The Oban Biosphere Reserve, in Calabar, Cross River, Nigeria.
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Nigeria Set to Pass Sweeping AI Rules for Digital Economy

Nigeria is set to pass a law that would place it among the first African countries to regulate artificial intelligence, tightening oversight of one of the continent’s fastest-growing digital markets after years of largely unchecked expansion by global technology firms.

Customers at a telecoms store in Nigeria. Photographer: Jean Chung/Bloomberg
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Nigeria’s NNPC Plans to Develop New Oil Fields to Boost Output

Nigeria’s state-owned oil producer plans to develop new oil fields from next year and seeks to raise at least $30 billion by the end of the decade, senior officials familiar with the plans said.

A customer waits for a container to be filled with fuel at a Nigerian National Petroleum Company Ltd. (NNPC) gas station in Lagos, Nigeria, on Wednesday, Aug. 23, 2023. Gasoline prices have more than tripled since the subsidies were abolished on May 29, exacerbating a cost-of-living crisis in Africa’s biggest economy.
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