Sunday, December 14, 2025
27.8 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

Hot this week

FG to Empower Businesses with N1.4tn in 2026 via Tax Reform

Mr. Taiwo Oyedele, Chairman of the Presidential Committee on...

NCC Promises Seamless Quality of Service Despite Challenges in Abuja

The Nigerian Communications Commission (NCC) acknowledges the Quality of...

Stanbic IBTC FUZE Festival Returns with The Ultimate Show on Saturday, Dec 20

Stanbic IBTC, a member of Standard Bank Group, has...

FG, SEC, NGX Group Forge Unified Direction on Capital Gains Tax Reform

The Federal Government has inaugurated the National Tax Policy...

NGX Expands Market Offerings with Introduction of Commercial Paper Listings

Nigerian Exchange Limited (NGX) has introduced Commercial Paper (CP)...

Topics

MTN, 9mobile Ink National Infrastructure Partnership Deal

L-R: Abolaji Idowu, Chief Financial Officer, 9mobile; Omotola Ojutayo,...

PenCom, NERC Partner to Enforce Pension Compliance by GENCOs, DISCOs

From left: NERC Commissioner, Planning, Research and Strategy, Dr...

Ford Drivers to Get Traffic App, Waze, from April 2018

Ford yesterday announced, at Mobile World Congress, in Barcelona,...

NDIC Slates April 2025 for Liquidation Dividends to Heritage Bank Depositors

In response to concerns raised by depositors of the...

Stanbic IBTC Bank PMI: Output Falls at Fastest Pace in 19 Months amid Intense Cost Pressures

Severe inflationary pressures caused an intensification of the downturn...

Danbatta Spotlights Centrality of Consumers to Telecoms Industry

  As the World Consumer Rights Day (WCRD) was celebrated...

NPA’S New Spokesman, Nduonofit, Assumes Office

The newly appointed General Manager Public Affairs of the...

‘Akili and Me’ New Season Debuts on AIT, Focuses on Words, Sounds

Ubongo, Africa’s leading edutainment production enterprise, has announced the...
spot_img

Related Articles

Popular Categories

spot_imgspot_img