Global electricity demand is set to rise by 3.3% in 2025 and 3.7% in 2026 – more than twice as fast as total energy demand growth over the same period, the IEA’s Electricity Mid-Year Update finds.

The new report underscores the increasing demand for electricity to power factories and appliances, keep buildings cool, operate growing fleets of data centres, run electric vehicles and more.

While the latest forecasts for global electricity demand growth this year and next are a deceleration from the 4.4% surge recorded in 2024, they remain well above the 2015-2023 average of 2.6%.

Renewables are expected to overtake coal as the world’s largest source of electricity as early as 2025 or by 2026 at the latest, depending on weather and fuel price trends.

At the same time, nuclear power output is expected to reach record highs, driven by reactor restarts in Japan, robust output in the United States and France, and new additions, mostly in Asia.

The steady increase in gas-fired power generation is set to continue displacing coal and oil in the power sector in many regions.

As a result of these developments, carbon dioxide emissions from electricity generation are currently forecast to plateau in 2025 and record a slight decline in 2026, although weather and economic conditions could affect that trajectory.

“The growth in global electricity demand is set to remain robust through 2026, despite an uncertain economic backdrop,” said Keisuke Sadamori, IEA Director of Energy Markets and Security.

“The strong expansion of renewables and nuclear is steadily reshaping electricity markets in many regions. But this must be matched by greater investment in grids, storage and other sources of flexibility to ensure power systems can meet the growing demand securely and affordably.”

Governor Ododo didn’t just go there to sign papers. He has since returned home to roll up his sleeves to make the partnership a huge success.

The Kogi State Government has reiterated its commitment to transforming the state’s agricultural sector and improving the livelihood of farmers through the recently signed Food for Lagos partnership, aimed at creating a robust food supply chain between Kogi and Lagos State.

This was disclosed in a statement made available to journalists in Lokoja on Thursday by the State Commissioner for Information and Communications, Kingsley Femi Fanwo, who highlighted the strategic steps already taken to actualize the economic potential of the initiative.

According to Fanwo, less than two weeks after the agreement with the Lagos State government was signed, Governor Ahmed Usman Ododo has begun implementing concrete measures to boost food production, improve infrastructure, and attract high-value investments into the state’s agricultural sector.

“Governor Ododo didn’t just go there to sign papers. He has since returned home to roll up his sleeves to make the partnership a huge success.

With the Governor’s efforts, Kogi farmers will earn more from their agricultural produce.”

He revealed that the State Ministry of Agriculture has already mapped out key areas with comparative advantages for specific crops, ensuring that each region contributes meaningfully to the value chain.

Kogi, he said, is already a leading producer of cassava in Nigeria and West Africa, and the administration is working hard to dominate other areas of food production.

“We are not just talking about being the food basket of the nation, we are taking real steps to become one,” he said.

He praised Governor Ododo as a visionary leader who, from the outset of his administration, placed agriculture at the center of his development agenda.

“During his campaigns and in his inaugural speech, he emphasized the need for Kogi to be self-sufficient in food production. Today, he is fulfilling that promise.”

Fanwo also highlighted major government-backed programs such as RAAMP (Rural Access and Agricultural Marketing Project), which is facilitating the rehabilitation of rural roads to improve access to markets, and ACReSAL (Agro-Climatic Resilience in Semi-Arid Landscapes), which is channeling investments into rural farming communities.

“Agriculture in Kogi is receiving the biggest attention it has ever received,” Fanwo affirmed.

“Our youth and women from Ibaji to Gegu and Egbe are now fully involved in the agricultural revival sweeping across the state.”

He further noted that the state’s growing success in combating rural insecurity has contributed to increased farming activity and boosted confidence among local farmers.

The Information Commissioner said that the Food for Lagos Project is a game-changer, not only for food supply in Nigeria’s largest city but also for wealth creation and economic empowerment in Kogi State.

“With sustained implementation, this partnership will make Kogi farmers richer and the state stronger economically,” he said.

Abuja has overtaken Lagos as Nigeria’s top destination for foreign capital inflow, according to the Q1 2025 Capital Importation report released by the National Bureau of Statistics (NBS).

The report revealed that the Federal Capital Territory (FCT) attracted $3.04 billion in capital importation during the first quarter of 2025, surpassing Lagos, which drew $2.54 billion in the same period.

This marks the first time Lagos has lost its long-standing position as the country’s number one hub for foreign investment.

Following Lagos were Ogun State with $7.95 million, Oyo with $7.81 million, and Kaduna with $4.06 million.Overall, Nigeria recorded a total capital importation of $5.64 billion in Q1 2025 — a 67.12 percent increase from the $3.37 billion reported in Q1 2024.

Compared to Q4 2024, which recorded $5.08 billion, capital inflow rose by 10.86 percent.

In the NBS report, Portfolio Investment accounted for the largest share at $5.20 billion (92.25 percent), followed by Other Investments at $311.17 million (5.52 percent).

Foreign Direct Investment (FDI) was the lowest contributor with $126.29 million (2.24 percent).