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/ 15 January 2008

No cash for Nigerian power without plan

Nigeria will not pour more cash into power, having spent -billion in the last seven years with little to show for it, until it has a clear idea of how to revamp the sector, President Umaru Yar’Adua said on Monday. Yar’Adua took power on May 29 with a pledge to declare a ”national emergency” on power and energy, but he has yet to formally take the step.

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/ 17 November 2007

Africa must grow energy sector to boost GDP

Africa requires massive investment in its failing energy sector to boost economic growth and meet its goal of halving poverty, a United States-Africa business summit heard on Friday. Emerging economies required a 16% increase in energy to drive every 10% of gross domestic product (GDP) growth, said Andrew Fawthrop, Chevron energy company’s Nigerian vice-president.