African countries, led by the African Group of Negotiators, are advocating for a new climate finance target of $1.3 trillion annually at COP29 in Baku, Azerbaijan. This aligns with similar demands from India and the Arab Group. The African Ministerial Conference on the Environment emphasized the need for developed countries to provide leadership in climate finance. Key figures like Ali Mohamed and Amos Wemanya stress the importance of debt-free, public climate finance to support renewable energy and address economic challenges. The article highlights the need for a loss and damage fund to address historical and current climate injustices, with criticism of the United States' approach to managing the fund. Greenpeace Africa calls for the protection of Africa's natural resources and forests from exploitation.

The Nigerian government has issued a license to UTM Offshore to develop the country's first floating liquefied natural gas (LNG) facility, marking a significant milestone in Nigeria's gas industry. The facility, located in Akwa Ibom State, will produce 2.8 million tonnes of LNG per annum, utilizing flared gas from ExxonMobil's oil field in the Niger Delta. Experts highlight the project's alignment with Nigeria's gas expansion ambitions and its potential to reduce reliance on oil, attract investment, and enhance LNG export capabilities. However, environmental concerns regarding the impact on local ecosystems necessitate thorough assessments and community engagement. The project supports Nigeria's decade-long gas initiative by increasing gas exports and attracting foreign investment.

Ghana has initiated the first phase of a $12 billion petroleum hub project, aiming to enhance its role in Africa's energy sector. The project, which includes a refinery, petrochemical plant, and storage facilities, is expected to create significant employment and economic growth. President Nana Akufo-Addo emphasized the project's potential to transform Ghana's economy and its commitment to environmental sustainability. However, experts highlight challenges such as infrastructural readiness, regulatory hurdles, and funding. The project aligns with regional integration goals under the Africa Continental Free Trade Area, but environmental concerns and the need for advanced technology remain critical considerations.

Oando's acquisition of Eni's NAOC for $783 million marks a significant step in the Nigerian company's strategy to expand its upstream operations and strengthen its position in the oil and gas sector. The deal, supported by a $650 million lending facility from the African Export-Import Bank, is expected to enhance Oando's operational control and efficiency, contributing to Nigeria's energy transition. While the acquisition promises economic benefits for local communities, it also raises environmental concerns, particularly in the Niger Delta region. Oando is urged to prioritize environmental sustainability and regulatory compliance. The company is also diversifying into renewable energy to align with global trends and ensure long-term growth.

Senegal's renewable energy strategy lacks clarity, with a heavy focus on gas-to-power projects that may overshadow renewable energy development. The NRGI report suggests a balanced energy mix and international support are crucial for a secure energy future. The country's participation in the Just Energy Transition Partnership aims to increase renewable power generation, but financial and technical support is essential. Experts highlight the risks of long-term gas dependency and the need for a transparent, inclusive approach to energy planning to attract investment and ensure responsible resource governance.

Indigenous communities in Nigeria, particularly in Abuja and Nasarawa, are severely affected by harmful quarrying practices. Companies like Perfect Stone Quarries Limited, Zeberced Quarry Limited, and Kaidi Investment Limited are criticized for their operations, which cause environmental damage, health issues, and structural damage to homes. Despite regulations, these companies often operate too close to residential areas, prioritizing profit over public health. Efforts to mitigate these impacts are insufficient, leaving residents to suffer from poor air quality and physical harm. The Nigerian Army's housing projects are also affected, with residents experiencing significant disruptions and health risks.

Nigeria faces a critical need to reduce methane emissions from its oil and gas sector, as highlighted by the Natural Resource Governance Institute (NRGI). The report emphasizes the socio-economic and environmental costs of unchecked emissions, urging the Nigerian government to implement robust frameworks for monitoring and reducing methane emissions. Experts like Tengi George-Ikoli and Magdalene Osakue stress the importance of adopting advanced technologies and regulations to meet climate goals and protect public health. The report also identifies challenges such as data inaccuracy and regulatory gaps, recommending coordinated efforts among government bodies, oil companies, and international partners to address these issues and position Nigeria as a leader in sustainable energy practices.

The African Development Bank Group has approved a $500 million loan to support Nigeria's Economic Governance and Energy Transition Support Program, aimed at transforming the country's electricity infrastructure and increasing access to cleaner energy. The loan will help implement Nigeria's new Electricity Act and energy transition plan, which targets 90% renewable energy by 2050. Experts highlight the loan's potential to expand solar energy access, replace fossil-fuel vehicles with cleaner alternatives, and address infrastructure deficits. Despite short-term reliance on fossil fuels, the loan is expected to accelerate Nigeria's shift towards renewable energy, with significant long-term benefits for the country's energy sector.

The African Petroleum Production Organization (APPO) has announced the establishment of the Africa Energy Bank (AEB) in Abuja, Nigeria, with an initial share capital of $5 billion. The bank, a joint initiative with Afreximbank, aims to address funding challenges in Africa's oil and gas industry while also supporting renewable energy projects. Experts highlight the bank's potential to enhance energy access, reduce costs, and promote socio-economic development across the continent. However, they caution that the bank must balance investments between oil, gas, and renewables to ensure long-term energy security and sustainability. The success of the AEB will depend on attracting further capital and maintaining transparent operations.

U.S. natural gas prices have fallen to their lowest levels since 1997, adjusted for inflation, due to weak demand and high output. The Henry Hub benchmark price dropped to $1.50/MMBtu in February. Warm weather and record production have led to a surplus, with storage levels 22% above the five-year average. This has prompted companies like Chesapeake Energy and Coterra Energy to cut drilling and production, with Chesapeake reducing spending by 20% and production by 15%. Job losses in the sector have been reported, and companies are hoping that reduced drilling will help balance the market. Similar gluts are observed in Japan and Europe. Analysts suggest that sustained low prices are not sustainable for the industry.