GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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PRES. TINUBU TO ATTEND AFRICA HEADS OF STATE ENERGY SUMMIT IN DAR ES SALAAM, TANZANIA. (PHOTO). #PRESS RELEASE

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 STATEHOUSE PRESS RELEASE

 

PRESIDENT TINUBU TO ATTEND AFRICA HEADS OF STATE ENERGY SUMMIT IN DAR ES SALAAM, TANZANIA

 

President Bola Tinubu will depart Abuja on Sunday for Dar es Salaam, Tanzania, to participate in the Africa Heads of State Energy Summit on January 27-28, 2025. 

 

The Summit, hosted by the government of Tanzania in collaboration with the African Development Bank Group and the World Bank, aims to advance ‘‘Mission 300,’’ an initiative to provide electricity access to 300 million people in Africa by 2030.

 

In Dar es Salaam, African leaders, private sector leaders, development partners, and civil society groups will strategise to accelerate energy access across the continent. 

 

The Summit will provide a platform for sharing knowledge, expertise, and resources to address Africa’s energy challenges. 

 

Discussions will focus on accelerating energy access in underserved regions, renewable energy, energy efficiency, and mobilising private sector investment. 

 

On the first day, at the ministerial level, participating countries, including Nigeria, will present their national energy strategies, termed compacts, detailing their approaches to achieving universal energy access within five years. 

 

On the second day, Heads of State will endorse the Dar es Salaam Energy Declaration, outlining a unified roadmap for Africa’s progress towards the Mission 300 objectives.

 

President Tinubu will deliver a national statement reaffirming Nigeria’s commitment to achieving universal access to energy and its leadership role in Africa’s energy sector. 

 

He will also highlight Nigeria’s ongoing clean energy initiatives and its strategy to drive integrated energy delivery in the continent. 

 

Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, Minister of Power, Adebayo Adelabu, the Special Adviser to the President on Energy, Olu Verheijen, and other senior government officials will accompany President Tinubu on the trip.

 

He will return to Abuja after the summit. 

 

Bayo Onanuga 

Special Adviser to the President 

(Information & Strategy) 

January 25, 2025

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