Books & Reports
The Prize: The Epic Quest for Oil, Money & Power
by Daniel Yergin
Daniel Yergin masterfully narrates the history of the world's most important resource: oil, from the first drilling wells in Pennsylvania to oil's role in some of the most violent events of the 20th and 21st centuries. Yergin shows that in many ways the history of the 20th century is the history of the oil industry itself, as it is the resource that has transformed many nations and men, not always for the better. With each chapter, Yergin brings to life some of the most formidable men whose actions are still evident in our lives today. Th extraordinary breadth and depth of this book makes it a must-read for all who want to understand how oil has shaped our society and our politics.
Financial Viability of Electricity Sectors in Sub-Saharan Africa: Quasi-Fiscal Deficits and Hidden Costs
BY THE WORLD BANK
Sub-Saharan Africa is plagued with poor infrastructure and industry. The lack of a reliable and affordable source of electricity compounds to the many other factors that deter the ease of doing business in the region. This paper studies the financial viability of electricity sectors in 39 countries in Sub-Saharan Africa using an approach similar to that in an earlier study, the Africa Infrastructure Country Diagnostic. Quasi-fiscal activities refer to operations that result in a net transfer of public resources to the private sector through non-budget channels, hence a quasi-fiscal deficit (QFD) is essentially an implicit subsidy being provided to a private sector. QFDs within the electricity sector in sub-Saharan Africa have been of great interest as many utilities operate below cost-recovery levels due to tariff regulation in many countries. This study assesses the QFD being provided in each country is calculated under two scenarios: existing utility performance and benchmark utility performance, and their implications to the development of the electricity sector. It is available to read here.
The Nigerian Energy Sector - an Overview with a Special Emphasis on Renewable Energy, Energy Efficiency and Rural Electrification
by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH & Federal ministry of power, federal republic of nigeria
Nigeria is Africa’s largest oil producer and in 2012 was the world’s fourth largest exporter of liquid natural gas (LNG from associated petroleum gas). Coal seams are also present in abundant quantities in Kogi and Enugu states, but they are yet to be mined on a large-scale, though development is ongoing. Despite the abundance of fuel resources, Nigeria often suffers from periods of fuel shortages, and interrupted gas supply to power plants resulting in poor performance. Sabotage (due to criminal activity) and failing pipelines have impeded the development of the oil and gas sector, especially the domestic downstream industry. The gas sector is further restricted by the ongoing shortfall in infrastructure necessary to monetise available gas resources. This report summarises the history of the Nigerian energy industry, including the policies and reforms that have been implemented, albeit poorly till date. It is available to read here.
National Gas Policy: Nigerian Government Policy and Actions
by Ministry of Petroleum Resources, Federal Republic of Nigeria
The Nigerian gas sector has long suffered from poor infrastructure, partly owing to a lack of investment, and inconsistent policies that have deterred the growth of the sector. This Policy, released by the Ministry of Petroleum Resources, is a review of the government's policy positions, with respect to gas resources, for the last decade and assesses their achievements and failures. It outlines (yet another) plan for the introduction of an appropriate institutional, legal, regulatory and commercial framework for the gas sector. The policy will be subject to periodic review and updates to ensure consistency that has been lacking in government policy making with regards to the gas sector. It outlines the government's plan to overcome the barriers affecting investment and development of the sector, in a global international business environment that is now tougher with investment flows leaving the continent as investors look to emerging markets in Asia and Eastern Africa. It is available to read here.