Economy
Africa to Achieve Full Access to Electricity by 2080—Report
By Dipo Olowookere
A new Atlas released on Friday by the UN Environment and African Development Bank at the World Economic Forum in Durban, South Africa has revealed that going by the current trends, it will take Africa until 2080 to achieve full access to electricity.
The new Atlas shows energy potential of Africa and opportunities for investment to meet Africa’s energy needs.
It said energy consumption in Africa is the lowest in the world, and per capita consumption has barely changed since 2000, noting that the current energy production in Africa was insufficient to meet demand.
The Atlas showed that Africa is richly endowed with energy resources, both renewable and non-renewable, but the poorest African households spend 20 times more per unit of energy than wealthy households when connected to the grid.
About a third of the total African population still lacks access to electricity and 53 percent of the population depends on biomass for cooking, space heating and drying.
A kettle boiled twice by a family in the United Kingdom uses five times as much electricity as a Malian uses in a year.
It remarked that investments in green energy infrastructure can bolster Africa’s economic development and bring it closer to achieving the Sustainable Development Goals.
Prepared in cooperation with the Environment Pulse Institute, United States Geological Survey and George Mason University, the Atlas consolidates the information on the energy landscape in Africa.
It provides information in the form of detailed ‘before and after’ images, charts, maps and other satellite data from 54 countries through visuals detailing the challenges and opportunities in providing Africa’s population with access to reliable, affordable and modern energy services.
“The Atlas makes a strong case that investments in green energy infrastructure can bolster Africa’s economic development and bring it closer to achieving the Sustainable Development Goals. It is therefore an important policy guide for African governments as they strive to catalyze national development by making use of their energy resources,” said Juliette Biao Koudenoukpo, Director and Regional Representative, UN Environment, Africa Office.
The Atlas shows both the potential and the fragility of the continent’s energy resources which are at the heart of Africa’s socio-economic development.
It also highlights some success stories of sustainable energy development around the continent, but it also puts the spotlight on major environmental challenges associated with energy infrastructure development.
Reserves of coal, natural gas and oil represent 3.6 percent, 7.5 percent and 7.6 percent of global reserves respectively.
A growing population, sustained industrialization and rising urbanization mean that energy demand in Africa is increasing. Only an insignificant fraction of the existing energy potential has been tapped into—leaving the continent lagging behind in the production and manufacturing sectors due to low and unreliable access to energy.
Main findings and key concerns in the Atlas
Africa has the world’s lowest per capita energy consumption: with 16 percent of the world’s population (1.18 billion people out of 7.35 billion) it consumes about 3.3 percent of global primary energy.
Of all energy sources, Africa consumes most oil (42 percent of its total energy consumption) followed by gas (28 percent), coal (22 percent), hydro (6 percent), renewable energy (1 percent) and nuclear (1 percent).
South Africa is the world’s seventh largest coal producer and accounts for 94 percent of Africa’s coal production.
Africa’s renewable energy resources are diverse, unevenly distributed and enormous in quantity — almost unlimited solar potential (10 TW), abundant hydro (350 GW), wind (110 GW) and geothermal energy sources (15 GW).
Nearly 60 percent of refrigerators used in health clinics in Africa have unreliable electricity, compromising the safe storage of vaccines and medicines; half of vaccines are ruined due to lack of refrigeration.
Energy from biomass accounts for more than 30 percent of the energy consumed in Africa and more than 80 per cent in many sub-Saharan African countries. Indoor pollution from biomass cooking — a task usually carried out by women — will soon kill more people than malaria and HIV/AIDS combined.
Sub-Saharan Africa has undiscovered, but technically recoverable, energy resources estimated at about 115.34 billion barrels of oil and 21.05 trillion cubic metres of gas.
More women than men suffer from energy poverty.
By Aduragbemi Omiyale
Shareholders of Guinness Nigeria Plc will share about N4.38 billion as an interim dividend for the first quarter of 2026, the board has disclosed.
This cash reward amounts to N2.00 per share, as the company has shares outstanding of 2,190,382,819 on the floor of the Nigerian Exchange (NGX) Limited.
The brewer stated that the interim dividend would be paid to investors whose names appear on the register of members as of the close of business on April 20, 2026.
The dividend payout is being proposed following the sustained profitability reflected in the unaudited financial results of the company in the first three months of this year and its “strong performance in FY 2025.”
It would be “paid from distributable profits in accordance with Sections 426–428 of the Companies and Allied Matters Act (CAMA) 2020.”
Analysis of the performance of the brewery giant between January and March 2026 showed that revenue grew by 4 per cent on a year-on-year basis to N122.77 billion from N118.34 billion in the same period of last year, while the gross profit contracted to N43.48 billion from N44.52 billion due to prevailing cost pressures within the operating environment.
The company’s operating profit also shrank to N17.18 billion from N18.00 billion in the first quarter of 2025 due to elevated marketing & distribution costs and administrative expenses.
However, the reduction in net finance costs to N1.43 billion from N7.72 billion in Q1 of 2025 helped the organisation to grow its post-tax profit to N10.39 billion in the period under review versus the N7.03 billion recorded in the corresponding period of last year.
By Aduragbemi Omiyale
The chairman of the Nigerian Exchange (NGX) Group Plc, Mr Umaru Kwairanga, says enabling entrepreneurship requires more than access to funding.
He said this at a workshop held in Kano under the theme Unlocking Growth – Harnessing the Capital Market for SME Growth.
The event was organisation by the NGX in partnership with the Bank of Industry (BoI) as part of their financing advocacy.
Mr Kwairanga noted that the right institutional structures and market platforms are critical to unlocking sustainable growth.
“Kano provides a fitting backdrop for this engagement, not only as a historic commercial hub but as a gateway to significant untapped potential. The priority is to connect that potential to capital and the frameworks required for long-term growth,” he stated.
The programme was put together to integrate small and medium-sized enterprises (SMEs) into Nigeria’s formal capital market.
The Kano workshop follows the inaugural edition held in Lagos last year, signalling a more structured push by both institutions to bridge the gap between Nigeria’s SME ecosystem and long-term capital.
Participants were equipped with insights on financing pathways, governance structures, and long-term growth strategies within the capital market.
On his part, the chief executive of NGX Limited, Mr Jude Chiemeka, emphasised the central role of SMEs in strengthening market depth and resilience, noting that recent market performance continues to reflect investor confidence despite macroeconomic pressures.
“Through initiatives like this, we are demystifying the capital market and demonstrating that with the right structure and governance, SMEs can access capital to scale sustainably,” he said.
An Executive Director for MSME at BOI, Mr Oluwatoyin Ahmed Edu, said the bank remains focused on bridging financing gaps for businesses that may not yet meet listing requirements.
“Where viable enterprises require capacity building before accessing the market, BOI is positioned to provide the necessary support to prepare them for that transition,” he noted.
Delivering remarks on behalf of the Emir of Kano, Mr Shehu Muhammed Dankade highlighted the region’s strong entrepreneurial base, particularly the growing participation of women-led businesses, describing it as a signal of resilience and economic potential.
The workshop featured detailed presentations from NGX on listing requirements, corporate governance, and the use of the NGX Growth Board as a platform for raising long-term capital.
It also created space for direct engagement with SME operators across Northern Nigeria, offering insights into their challenges, growth ambitions, and readiness to access structured financing.
The initiative aligns with NGX Group’s broader strategy to position SMEs as a critical engine of economic growth, while strengthening the institutional pathways that enable businesses to transition from informal operations to investment-ready enterprises.
By Adedapo Adesanya
Nigeria’s inflation rate increased in March 2026 to 15.38 per cent from 15.1o per cent in February, data from the National Bureau of Statistics showed on Wednesday.
The Consumer Price Index (CPI) increased to 135.4 in March 2026, higher than the 130.0 in the preceding month by 5.4 points. The spike was likely stoked by the US-Israeli war on Iran, that’s pushed up the cost of fuel and has had a ripple effect in other areas.
At 15.38 per cent, the inflation numbers beat expectations of analysts at Meristem Research, which projected that the inflation rate in Nigeria for the month should come in at 13.59 per cent, after the price of crude oil on the global market soared as a result of the war in Iran, with prices of items growing in Nigeria.
The March 2026 headline inflation rate showed an increase of 0.32 per cent compared to the February 2026 headline inflation rate. However, on a month-on-month basis, the headline inflation rate in March 2026 was 4.18 per cent, which was 2.17 per cent higher than the rate recorded in February 2026 at 2.01 per cent.
This means that last month, the rate of increase in the average price level was higher than the rate of increase in the average price level a month earlier.
Food inflation rate in the review month stood at 14.31 per cent on a year-on-year basis versus 25.22 per cent in the same month of last year. However, on a month-on-month basis, the food inflation rate in March 2026 was 4.17 per cent, which is 0.52 per cent lower than the 4.69 per cent achieved in February 2026.
According to the stats office, “This can be attributed to the rate of change in the average prices of the following products: Yam, Ginger (Fresh), Cassava Tuber, Groundnuts (Shelled), Irish Potatoes, Avenger (Ogbono/Apon) – Dried Ungrinded, Tomatoes (fresh), Cassava Flour sold loose, etc.”
The average annual rate of food inflation for the twelve months ending March 2026 over the previous twelve-month average was 18.21 per cent, which was 17.81 per cent lower than the average annual rate of change recorded in March 2025 at 36.02 per cent.
On a year-on-year basis, in March 2026, the urban inflation rate was 14.64 per cent, and 3.16 per cent on a month-on-month basis, which is 0.61 per cent higher than the 2.55 per cent in February 2026.
As for the rural inflation rate, it was 17.22 per cent in the month under consideration and on a month-on-month basis, it stood at 6.73 per cent versus 0.71 per cent a month earlier.
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