Friday, May 29, 2026
32.7 C
Lagos

West Africa Needs €30bn to Fix Energy Deficit

Christian Adovelande, President of the West African Bank for Development (BOAD in French), said €30 billion is what must be spent to “fix” West Africa’s energy deficit.

We will identify major production areas in order to deal with the problem at a regional scale. The issue will be solved, by using traditional power sources and renewables also on which we’re presently focusing a lot,” BOAD’s president said.

Developing new infrastructure will help countries in the region boost their economic competitiveness. BOAD which aims to facilitate the economic integration of West African nations focuses particularly on electric inter-connexion within the region.

According to the World Bank, only an average of 40% of West Africa has access to electricity. Most of this percentage is found in cities which also often suffer outages.

–Gwladys Johnson

spot_img
spot_img
spot_img
spot_img

Hot this week

Mutual Benefits Delivers Strong 2025 Financial Performance, Record Profit Growth, Balance Sheet Expansion

Mutual Benefits Assurance Plc has announced its audited financial...

Heirs Insurance Group Opens Entry for 5th Essay Championship with ₦11.5m Prizes for Students, Teachers, Schools

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has opened...

NGX Seeks Cross-Listing Opportunities with Nairobi Securities Exchange

Alhaji (Dr) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group...

NAICOM Issues First Insurtech Licence, Reinforcing Commitment to Innovation, Market Integrity

L-R: Mr. Suleiman Olalekan Ajani, MD/CEO, CBI Insurtech and...

NDIC Reiterates Commitment to Strong Deposit Insurance Funding to Enhance Financial System Stability

L – R: Executive Director, Corporate Services, Nigeria Deposit...

Topics

Why Investors Will Buy Fidelity Bank’s Offers–Capital Market Stakeholders

Fidelity Bank Plc started its N127.1 billion combined rights...

Societe Generale Unveils Growth Strategy in Africa Plan

During a press trip to Dakar, Senegal, the Societe...

NDIC CEO: “Greater Collaboration with Media Critical in Addressing Challenges in Reportage”

Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC) Bello...

Anchor Insurance Holds 34th AGM in Lagos

L-R: Mr. Adebisi Ikuomola (Executive Director, Technical), Mr. Akinola...

Access Bank Hits over N1bn in Digital Lending Daily

Access Bank’s expanded digital lending portfolio, which gives Nigerians quick and...

Biodun Adedipe to Deliver Keynote Speech at SUPERNEWS Nigeria SMEs Confab June 13

Dr. Biodun Adedipe, Founder and Chief Consultant of B....

AMCON, Customs, FMOF on Buhari’s 1st Term Record

R-L: Dr. Eberechukwu Uneze, Executive Director, Asset Management Corporation...

Market Closes Flattish as Banking Stocks Rebound… NSE ASI up 2bps

The Local Bourse extended gains from the previous session...
spot_img

Related Articles

Popular Categories

spot_imgspot_img