From a poll carried out on 9jabook "If corruption was the Number One problem in Nigeria what is number Two ?"
As of today out of 441votes electricity took 217 votes roughly 49percent !
9jabook :"We are hoping such a move would be well represented on the Nigerian power scene and if Yaradua can swing this into an Oil/ Gas for Power Exchange solution then maybe we have seen the end of NEPA. Just what MTN did to Nitel and the revamping of Telecoms maybe this will be the saviour of our Power needs.Actually It is amazing that the powers that be notably diesel and petrol sellers for Generators and generator Maintenance and Sales Companies are still DISRUPTING Energy PROGRESS because of their Selfish needs"
IF CellPhone Technology could come after a long wait and turn Naija into the top Market in Africa WHY IS POWER TECHNOLOGY still taking such a long time to come.THERE IS A HUGE MARKET IN NIGERIA ! WHY ?
To power Lekki Peninsula alone you just need Wind Energy abundant on the Beach line !
READ ON !
President Dmitry Medvedev currently stated Russian investments in Nigeria’s energy sector could attain “billions of dollars” as Moscow signed a raft of energy deals with the African oil giant. Medvedev, the primary Kremlin leader to visit the West African powerhouse, stated he desired the signing of a cooperation agreement amongst Russian natural gas monopoly Gazprom and Nigeria’s state oil firm will result in joint projects.
“The basis for such work for years to come has been put in place today,” Medvedev announced to the reporters after talks with President Umaru Yar’adua.
“The prospects are very good,” he stated, adding that potential Russian investment in Nigerian energy sector could be worth “billions of dollars”.
Yar’adua stated that the ratifying the agreement “enables a great opportunity” for numerous energy projects, including the ambitious Trans-Saharan Gas Pipeline targeted at sending Nigerian gas to Europe.
Gazprom wants a stake in Nigeria’s vast gas deposits and is prepared to invest in energy infrastructure to get that access, officials said.
Gazprom has complained it is lacking behind its foreign competitors, saying it is prepared to mount a challenge to companies like Royal Dutch Shell, Chevron and ExxonMobil in Nigeria.
The Nigerian economy is heavily dependent on the oil sector which, according to the World Bank, accounts for over 95 percent of export earnings and about 85 percent of government revenues. The oil industry is primarily located in the Niger Delta where it has been a source of conflict. The industry has been blamed for pollution that has damaged air, soil and water leading to losses in arable land and decreasing fish stocks. Local groups seeking a share of the oil wealth often attack the oil infrastructure and staff, forcing companies to declare force majeure on oil shipments. At the same time, oil theft, commonly referred to as “bunkering” leads to pipeline damage that is often severe, causing loss of production, pollution, and forcing companies to shut-in production.
In addition to oil, Nigeria holds the largest natural gas reserves in Africa but has limited infrastructure in place to develop the sector. Natural gas that is associated with oil production is mostly flared but the development of regional pipelines, the expansion of liquefied natural gas (LNG) infrastructure and policies to ban gas flaring are expected to accelerate growth in the sector, both for export and domestic use in electricity generation.
The country’s energy consumption mix is dominated by oil (53 percent), followed by natural gas (39 percent) and hydroelectricity (7 percent). Coal, nuclear and other renewables are currently not part of Nigeria’s energy consumption mix, with the exception of biomass often used to meet rural heating and cooking needs.
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