Arnergy, Kaduna Electric, BEDC, Others For WAPIC Awards
By Dipo Olowookere
All is now set for the 2016 edition of West African Power Industry Convention (WAPIC), which holds at the Eko Hotel and Suites in Lagos from November 23-24.
Also during the event, which enters its 13th edition, the third edition of the hugely successful West African Power Industry Awards will take place and already, Genesis Energy, Aggreko, GRIDCo, Eko Disco and several innovative renewable projects are just some of the who’s who in the region’s energy industry who have made the coveted list of show’s finalists.
At the gala dinner, industry pioneers and projects would be recognised and celebrated in eight different categories and the event will attract some 2000 power professionals, high-level experts and industry stalwarts.
Below is the full list of the finalists in the West African Power Industry Awards:
Special Recognition Award
– Abubakar Sani Sambo, Chairman, Nigerian Member Committee of the World Energy Council, Nigeria
– Akinwole Omoboriowo II, Chairman & CEO, Genesis Energy, Nigeria
– Atiku Abubakar, Deputy Managing Director, Transmission Company of Nigeria, Nigeria
– Eli Jidere Bala, Director General, Energy Commission, Nigeria
– Mahama Kappiah, Executive Director, ECOWAS Regional Centre for Renewable Energy and Energy Efficiency, Ghana
– Nicholas Okafor, Partner, Udo Udoma & Belo-Osagie, Nigeria
– Oladele Amoda, Eko Electricity Distribution PLC, MD & CEO, Nigeria
– Uzoma Achinanya, Managing Director & Chief Executive Officer, Emtech Energy Services, Nigeria
Excellence in Power Generation
– Aggreko, West Africa
– Azito, Ivory Coast
– CIPREL Thermal Power Station, Ivory Coast
– Contour Global, Senegal
– Egbin Power Plc, Nigeria
– Volta River Authority, Ghana
Excellence in Power Transmission or Distribution
– Abuja Electricity Distribution PLC, Nigeria
– Benin Electricity Distribution Company, Nigeria
– Ghana Grid Company Limited, Ghana
– Ibadan Electricity Distribution Company, Nigeria
– Kaduna Electricity Distribution Company, Nigeria
CSR Initiative of the Year
– Africa GreenTec, Mali
– Ajima Farms and General Enterprises Nigeria Limited, Nigeria
– Green Energy & Biofuels, Nigeria
– Lagos Energy Academy, Nigeria
– Lagos Solar Project, Nigeria
– Light Up Lagos Initiative, Nigeria
– Solar Nigeria Programme, Nigeria
Best Renewable Energy Project
– Africa GreenTec, Mali
– Beijing Xiaocheng Company, Ghana
– GVE Projects Limited, Nigeria
– Photaz Energy, Nigeria
– Solar Nigeria, Nigeria
– Sosai Renewable Energies Company, Nigeria
– Strategic Power Solutions, Ghana
Outstanding Woman in Power, Regional Award, West Africa
– Bahijjatu Hadiza Abubakar, National Coordinator of the Renewable Energy Programme, Federal Ministry of Environment, Nigeria
– Chantelle Abdul, CEO, MOJEC Meter Company & MOJEC Power, Nigeria
– Damilola Ogunbiyi, General Manager, Lagos State Electricity Board, Nigeria
– Eunice Biritwum, CEO, CENIT Energy Limited, Ghana
– H.R.H. Princess Abze Djigma, Founder, Abze Solar S.A., Burkina Faso
– Subha Nagarajan, Managing Director: Africa Overseas Private Investment Corporation, Ivory Coast
Future Energy Leader Award
– Chimaobi Daniel NNA, Research Officer Energy Commission of Nigeria, Nigeria
– Fadekunayo Adeniyi, Project Development Associate, Quaint Global Energy Solutions, Nigeria
– Olakunle Owoeye, Co-Founder & CEO, Ecowatt Nigeria Limited, Nigeria
– Maame Tabuah Ankoh, Renewable Energy Specialist, ICF International, Ghana
– Prosper Ahmed Amuquandoh, Inspector: Electricity and Renewable Energy, Ghana Energy Commission, Ghana
– Tanoh Ghislain Tanoh, Economiste Statistician Engineer, National Company of Energy, Cote d’Ivoire
– Arnergy, Pay-As-You-Go Solar Home System
– Azimuth Solar, “Smart Hub”
– Photaz Energy, Fuelless Generator
– Vergnet SA, Hybrid Wizard™
As in previous years of this flagship power event in the region, WAPIC has already secured impressive industry support. Global information and telecommunication giant Huawei will return as the exclusive diamond sponsor for the event for the third time. Lucy Electric, a global secondary distribution leader in the electricity sector, is a platinum sponsor and Kedco a gold sponsor.
WAPIC is organised by Spintelligent, leading Cape Town-based trade exhibition and conference organiser, and the African office of Clarion Events Ltd, based in the UK. Other flagship events in Spintelligent’s power portfolio on the continent are African Utility Week, the East African Power Industry Convention (EAPIC), iPAD Rwanda Energy Infrastructure Forum and iPAD Cameroon Energy & Infrastructure Forum.
OPEC+ Likely to Keep Output Cut Levels as Group Meets April 3
By Adedapo Adesanya
The Organisation of the Petroleum Exporting Countries and its allies (OPEC+) will likely stick to its existing deal to cut oil output at a meeting on Monday, April 3.
According to Reuters, this was said disclosed by five delegates from the producer group after oil prices recovered following a drop to 15-month lows due to banking fears and demand worries.
Brent crude has recovered towards $80 a barrel after falling to near $70 on March 20 as fears ease about a global banking crisis and as a halt in exports from Iraq’s Kurdistan region curbs supplies.
OPEC+ is due to hold a virtual meeting of its ministerial monitoring panel, which includes Russia and Saudi Arabia, on Monday.
The consensus was that Kurdistan curbs and recent price drops were not sufficiently important to affect the overall OPEC+ policy path for 2023.
Kurdistan’s crude oil exports – around 400,000 barrels per day shipped through an Iraqi-Turkey pipeline to Ceyhan and then on tankers to the international markets – were halted late last week by the federal government of Iraq.
Last week, the International Chamber of Commerce ruled in favour of Iraq against Turkey in a dispute over crude flows from Kurdistan. Iraq had argued that Turkey shouldn’t allow Kurdish oil exports via the Iraq-Turkey pipeline and Ceyhan without approval from the federal government of Iraq.
Talks between officials from Kurdistan and from the Iraq federal government have failed in recent days, but they are set to continue next week.
Three other OPEC+ delegates also told Reuters that any policy changes were unlikely on Monday. After those talks, the next full OPEC+ meeting is not until June.
Last November, OPEC+ reduced its output target by 2 million barrels per day – the largest cut since the early days of the COVID-19 pandemic in 2020. The same reduction applies for the whole of 2023.
Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, has said OPEC+ will stick to the reduced target until the end of the year.
Oando to Quit Nigerian, Johannesburg Stock Exchanges
By Dipo Olowookere
The board of Oando Plc has informed the investing community of its intention to leave the Nigerian and Johannesburg stock exchanges in the coming months.
The reason for exiting the stock market, according to the energy firm, is to become a private company and to achieve this, its core investor, Ocean and Oil Development Partners Limited (OODP), has offered to buy all the shares held by minority shareholders in Oando.
OODP is offering to pay N7.07 in cash or its equivalent in South African Rand (ZAR) for each of the stock, which it said represents a 58 per cent premium to the last traded share price of Oando on Tuesday, March 28, 2023, being the day prior to the date it submitted the scheme application to the Securities and Exchange Commission (SEC).
Oando trades its shares on the floors of the Nigerian Exchange (NGX) Limited and the Johannesburg Stock Exchange (JSE).
This news comes hours after the company announced that it had bounced back into profitability after years of dishing out losses to the frustration of shareholders.
In its unaudited financial results for 2021, Oando reported a profit after tax of N34.7 billion, in contrast to the loss after tax of N140.7 billion of the preceding year.
Before now, Oando has had it rough with regulators in Nigeria, leading to its suspension from the market and a court tussle over allegations that it tampered with its financial statements to deceive investors.
In the notice released this week, Oando said after the acquisition of “the shares of all minority shareholders in Oando,” it would “subsequently be delisted from NGX and JSE and re-registered as a private company.”
At the moment, the energy firm said it has “applied for the SEC’s No Objection to the scheme, noting that the deal is “subject to the approval of the shareholders of Oando at the Court-Ordered Meeting of the company, as well as the sanction of the Federal High Court.”
However, it disclosed that, “The terms and conditions of the transaction will be provided in the scheme document, which will be dispatched to all shareholders following the receipt of an order from the Federal High Court to convene a Court-Ordered Meeting,” promising to update the market “upon receipt of requisite approvals from shareholders and regulators.”
Ajay Banga to Become World Bank President Unopposed
By Adedapo Adesanya
The World Bank Group’s Board of Executive Directors has announced Mr Ajay Banga, a US national, as the only nominee for the position of the bank’s next president and may clinch the post if he passes the next hurdle.
This was contained in a statement issued by the World Bank on Friday.
“The World Bank Group’s Board of Executive Directors today confirmed that, as announced on February 22, the period for submitting nominations for the position of the next President of the World Bank Group closed on Wednesday at 6:00 pm ET.”
“The board received one nomination and would like to announce that Ajay Banga, a US national, will be considered for the position.
“In accordance with established procedures, the Board of Executive Directors will conduct a formal interview with the candidate in Washington D.C., and expect to conclude the Presidential election in due course,” the board said.
US President Joe Biden in February nominated Mr Banga to lead the World Bank, saying he is “well equipped” to lead the global institution at “this critical moment in history.”
No other country proposed an alternate candidate for the prestigious post.
Mr Banga, 63, was born in India and is a naturalised US citizen. He has led Mastercard Inc and now currently serves as Vice Chairman at General Atlantic.
If confirmed, Mr Banga would become the first-ever Indian-American to head either of the two top international financial institutions, the International Monetary Fund (IMF) and the World Bank.
Mr Banga is expected to replace the current World Bank president, Mr David Malpass, who will step down in June, nearly a year before his term is scheduled to expire.
Mr Malpass faced strong criticism over the bank’s commitment to climate action and over his personal views on climate change.
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