Business
Africa records hydropower growth but Nigeria still suffers power shortages — Report
Africa added more than 4,200 megawatts (MW) of new hydropower capacity in 2025, making it a fast growing region for hydropower development globally, according to a new report released by the International Hydropower Association (IHA).
The report, 2026 World Hydropower Outlook, said the continent commissioned 4,297 MW of new hydropower capacity during the year, the second consecutive year that additions exceeded 4,000 MW.
The growth was driven largely by the completion of mega projects in Ethiopia and Tanzania, even as more than 90 per cent of Africa’s hydropower potential remains untapped.
The findings come as Nigeria continues to grapple with chronic power shortages, frequent grid collapses and one of the world’s largest electricity access deficits despite possessing significant hydropower resources.
Malcolm Turnbull, president of the International Hydropower Association, said countries are increasingly turning to hydropower and energy storage solutions as they seek reliable electricity supplies amid growing dependence on renewable energy and rising geopolitical uncertainties.
“As electricity systems become more dependent on variable renewables, and geopolitical tensions make reliance on imports more challenging, countries are increasingly recognising the importance of flexibility, long-duration storage and resilient domestic generation. Hydropower and pumped storage are uniquely positioned to provide these services at scale,” he said.
Ethiopia, Tanzania lead Africa’s growth
According to the report, Ethiopia fully inaugurated the 5,000 MW Grand Ethiopian Renaissance Dam (GERD) in 2025, making it the largest power station in Africa.
Tanzania also completed the Julius Nyerere Hydropower Project, a development the report said has substantially reduced the country’s dependence on diesel-powered electricity generation.
The report noted that Africa’s hydropower expansion places the continent at the forefront of global growth in conventional hydropower development.
However, it warned that progress remains far below potential.
“Despite progress, only around 10% of Africa’s hydropower potential has been realised, representing one of the most significant development opportunities in the world, with direct implications for electrification, industrial growth and energy security across a continent growing at twice the global average,” the report stated.
Most projects, it said, remain stalled by financing difficulties, regulatory bottlenecks and delays in securing approvals.
The report also identified weak transmission infrastructure and fragmented electricity networks as major barriers preventing power generated from reaching consumers efficiently.
Nigeria’s modest progress
Nigeria received only a brief mention in the report, which highlighted the rehabilitation of the Kainji Hydroelectric Power Station.
According to the report, the upgrade added 80 MW to the facility, increasing its installed capacity to 600 MW.
The modest increase contrasts sharply with the scale of new investments seen elsewhere on the continent.
Hydropower remains a critical component of Nigeria’s electricity supply. The Kainji, Jebba and Shiroro hydroelectric plants together account for a significant share of power delivered to the national grid.
Yet electricity supply remains inadequate for Africa’s most populous nation.
Data from the Nigerian Electricity Regulatory Commission (NERC) show that while Nigeria’s installed generation capacity exceeds 14,000 MW, actual available generation is significantly lower because of gas constraints, transmission limitations, ageing infrastructure and operational challenges.
The country has also experienced multiple national grid collapses in recent years, highlighting long-standing weaknesses in the electricity value chain.
Energy access challenge
The report arrives at a time when Nigeria is seeking to expand electricity access and reduce dependence on self-generated power.
According to the World Bank, about 86 million Nigerians lack access to electricity, giving the country the largest electricity access deficit in the world.
Businesses and households spend billions of naira annually on diesel and petrol generators to compensate for unreliable grid supply, a situation that raises production costs and constrains economic growth.
Although the 700 MW Zungeru Hydropower Plant has begun contributing electricity to the grid, several proposed hydropower projects across the country have faced delays linked to funding, environmental concerns and implementation challenges.
The IHA report suggests that while Africa is witnessing a resurgence in hydropower development, countries such as Nigeria will require significant investments in generation, transmission and energy storage infrastructure to fully benefit from the continent’s vast renewable energy potential.
Business
Regency Alliance Insurance Plc, Regency Alliance, private placement, capital raise, recapitalisation, NAICOM, National Insurance Commission, Nigerian insurance industry, insurance recapitalisation, capital base, strategic investors, underwriting capacity, solvency margin, corporate governance, Nigeria Exchange Limited, NGX, Lagos, insurance sector, financial services, business expansion, product innovation, digital transformation
Regency Alliance Insurance Signs Private Placement Agreement to Strengthen Capital Base
Regency Alliance Insurance Plc has signed a Private Placement Agreement as part of its recapitalisation programme aimed at strengthening its capital base and meeting the minimum paid-up share capital requirement set by the National Insurance Commission (NAICOM).
The company disclosed that the agreement, signed on July 10, 2026, marks a significant milestone in its multi-phase capital raising programme approved by its Board of Directors.
The signing ceremony, held at the company’s headquarters in Lagos, was attended by members of the Board, management team, issuing houses, legal advisers, stockbrokers and other stakeholders.
Under the arrangement, Regency Alliance plans to raise capital through a private placement of 7.37 billion ordinary shares targeted at strategic investors.
According to the company, the capital injection will strengthen its solvency margin, enhance underwriting capacity, support business expansion and finance investments in technology, product innovation and customer experience.
Regency Alliance noted that the transaction also reflects the confidence of strategic investors in the company’s corporate governance, financial outlook and long-term growth strategy.
The insurer said the additional capital would position it to pursue new business opportunities, improve operational resilience, deepen market penetration and deliver sustainable value to shareholders, policyholders and other stakeholders.
The Board added that it remains committed to completing the capital raising exercise in an orderly and transparent manner while maintaining high standards of corporate governance and regulatory compliance.
The post Regency Alliance Insurance Plc, Regency Alliance, private placement, capital raise, recapitalisation, NAICOM, National Insurance Commission, Nigerian insurance industry, insurance recapitalisation, capital base, strategic investors, underwriting capacity, solvency margin, corporate governance, Nigeria Exchange Limited, NGX, Lagos, insurance sector, financial services, business expansion, product innovation, digital transformation appeared first on Business Today NG.
A 38-year-old South African lady, Ms. Will Jessica Ann has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) at the Nnamdi Azikiwe International Airport (NAIA) Abuja after she was found to have concealed 14 large blocks of heroin weighing 5.75 kilograms in her luggage, using her three-year-old son as a cover to beat security checks and evade thorough screening.
The suspect was arrested by NDLEA officers on Monday 6th July 2026 during the inward clearance of passengers on Qatar Airways flight QR 1433 from Doha to Abuja. Though she initially denied travelling with check-in bags, but after operatives were able to quickly establish that the two bags containing the drugs had tags which tallied with the claim tags attached to her passport, she recounted and admitted ownership of the bags adding that she forgot she checked in the two bags.
She claimed to have travelled from Cambodia through Doha to Abuja. Intelligence leading to her arrests indicates she is a member of a transnational drug trafficking organization along with her husband/partner, Jan Coenraad De Jager, based in Cambodia from where they operate their drug network along the Cambodian-South African axis.
In another successful interdiction operation, NDLEA officers at the terminal 2 arrival hall of the Murtala Muhammed International Airport (MMIA) Ikeja Lagos on 28th June 2026 intercepted a commercial motorcycle operator popularly known as ‘Okada rider’, 48-year-old Onyechere Daniel Chinadu following his arrival from Madagascar via Addis Ababa aboard an Ethiopian Airways flight.
A thorough search of his back pack, which he had checked in, led to the discovery of 87 wraps of methamphetamine concealed within cloths in his bag. In his statement, Onyechere claimed he has been working for 15 years as an Okada rider at Oke-Afo area of Lagos before his Uganda based friend recruited him into drug trafficking.
He said he ingested the recovered pellets of methamphetamine in Uganda before embarking on his planned journey to Madagascar to deliver the drug consignment. He however said that upon arrival in Madagascar, he was denied entry by Immigration authorities. As a result, his friend and sponsor, Ozor Igo, based in Uganda rerouted his flight to Lagos, where he was eventually arrested by NDLEA officers.
The suspect was unable to state the exact number of pellets he had ingested in Uganda and as a result, he was placed under excretion observation for a period of three days. Between the date of his arrest and 1st of July, he was able to excrete 13 pellets in addition to the initial 87 wraps recovered from him, bringing the total number to 100 wraps of methamphetamine with a gross weight of 1.715 kilograms.
At the Apapa seaport in Lagos, a total of 8,287 nylon bags of Canadian Loud weighing 4,143.5 kilograms worth over N10.3 billion in street value were discovered in a container imported from Canada during a joint examination of the shipment by NDLEA officers, Customs personnel and other security agencies on Friday 10th July 2026.
The discovery followed weeks of targeted tracking and monitoring of the shipment since its departure from Montreal, Canada, by operatives of the Maritime Intelligence Unit of NDLEA in close collaboration with the Apapa Strategic Command of the Agency. Meanwhile, an attempt to export a 2.5kg skunk, a strain of cannabis, concealed in a gas compressor going to Cyprus through a courier company in Lagos has been thwarted by NDLEA operatives of the Directorate of Operation and General Investigation(DOGI).
With the same zeal, Commands and formations of the Agency across the country continued their War Against Drug Abuse (WADA) sensitization activities in schools, worship centres, work places and communities among others in the past week. These include: WADA enlightenment lecture for students and staff of Nnodo Secondary School, Abakaliki, Ebonyi; Government Girls Secondary School, Sabon Gida, Sharada, Kano; Royal Jesuit College, Agbado Ekiti; and Community Secondary School, Idofa, Ogun, while the leadership of Zone 14 Command of NDLEA paid a WADA advocacy visit to Rivers State Governor, Sir Siminalayi Fubara at Government House Port Harcourt, among others.
While commending the officers and men of DOGI, MMIA, NAIA, MIU, and, Apapa Commands of the Agency for the arrests and seizures, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) noted their drug supply reduction efforts balanced with WADA sensitization activities while he charged them and their compatriots across the country not to rest on their past laurels.
The post NDLEA intercepts South African lady with 3-year-old son as cover to traffic heroin appeared first on Business Today NG.
-
News2 days agoGagdi Defends Lalong, Accuses Dasuki Nakande of Meddling in APC Affairs
-
Entertainment4 days ago
JOGAMA UNVEILS THE OFFICIAL THEME FOR THE 16TH EDITION OF THE JOINT GOSPEL ARTS AND MUSIC AWARDS (JOGAMA) 2026
-
News2 days ago
Nigerian Army Secures Unconditional Release of Abducted Oyo Pupils, Teachers After Weeks of Operations
-
Business4 days ago
SPECIAL REPORT: How soaring cooking gas prices are squeezing Nigerian households, businesses
