Sunday, February 23, 2025
23.3 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

LASAA Addresses Community Concerns over Billboard Safety at Abati Barrack

The Lagos State Signage and Advertisement Agency (LASAA) is...

AIICO Celebrates Outstanding Agency Field Force at 2025 Annual Awards Night

Left - Right: Mr. Adewale Kadri (Executive Director, Technical),...

Is the CBN Pushing Nigerians Back into the Banking Halls? 

By Elvis Eromosele  Public institutions in Nigeria have a knack...

Fidelity Bank Enhances Educational Facilities in Benin, Abuja

Fidelity Bank Plc, a leading financial institution, has once...

NCDMB Chief Visits Samsung, Africoat, Insists on Patronage of Local Facilities

The Executive Secretary, Nigerian Content Development and Monitoring Board...

Topics

‘Forex Trading: Great Opportunity to Earn Sustainable Income’

In this Special interview, Dr. Corvin Codirla of FX...

Ford Ranger Wins Auto Brand Award 2017

The Ford Ranger has been named the Auto Brand of...

Absa: Expanding Role in Africa’s Post-Pandemic Recovery Race

The race to rebuild the global economy after the...

World Bank Report: Banks Provided $28bn in Climate Finance in 2014

The leaders of the powerful G7 countries made headlines in June when they committed to a low-carbon growth path and formally recognized the need to reach zero net emissions globally before the end of the century. They know it will require shifting trillions of dollars from carbon-intensive investments to low-carbon, resilient growth, and they called on the six big multilateral development banks (MDBs) to use "to the fullest extent possible" their balance sheets and their capacity to mobilize partners to increase climate finance for developing countries.

Survey Projects Nigeria as Key Consumer Market in Africa

Consumer spending by a fast-growing middle class is as...

CTO Tasks Africa on Digital Broadcasting Switchover

In his opening address at the Digital Broadcasting Africa...

PenCom’s Micro Pension Initiative Suffers Setback

There are indications that the micro pension initiative by...

Fidelity Bank: Reaffirming Brand Promise Through Rebranding

In today’s corporate environment, three key ingredients are necessary for any organisation to remain relevant and profitable: Ability to engage the client; dynamism, and flexibility. Very few organisations have exhibited these traits over the past two decades more than Fidelity Bank Plc. The recent refresh of Fidelity Bank’s corporate identity, the latest in its 27-year history, speaks to these important traits and the need to remain relevant in the world of corporate giants.
spot_img

Related Articles

Popular Categories

spot_imgspot_img