The impact of the global pandemic that is COVID-19 on world economies and human lives is so far reaching, it would be impractical to expect Governments alone to fix. From the onset private sector companies and individuals globally have seen it as their civic duty to help in the containment of the virus and the…
Power distribution companies on Wednesday announced that they were in support of proposal by the National Assembly and the Federal Executive arm of government that Nigerians should get two months of free electricity. Speaking through their umbrella body, the Association of Nigerian Electricity Distributors, the Discos stated that modalities for the free power would be…
By Margaret Nongo-Okojokwu The Ibadan Electricity Distribution Company (IBEDC) Plc says it has earmarked about N100 million as part of its corporate social responsibility and contributions toward mitigating the health hazards and hardships caused by the COVID-19 pandemic for the donation of relief items to the states it operates in. The company also said it…
Mixed reactions have continued to trail the supply of electricity to customers by Eko Electricity Distribution Company (EKEDC) and Ikeja Electric (IE) during the ongoing lockdown of Lagos. While some customers praise the Discos for delivering quality supply to their areas so far during the mandatory stay at home period, others are dissatisfied with the…
***Gencos seek govt intervention In three days, April 2 to April 4, gas shortage to thermal power plants stalled the generation of 10,362.5 megawatts of electricity. The generation companies explained that gas shortage greatly hindered the production of electricity in thermal power plants. Industry figures obtained by our correspondent in Abuja on Sunday showed that…
Some stakeholders in the petroleum sector on Tuesday said removing subsidy on fuel would benefit the nation’s economy in the long run. The stakeholders said in separate interviews in Lagos that the crash in the price of crude oil in the international market had provided the government the opportunity to stop subsidising the product. Mr…
SIFAX Group, a group of companies with investment in Maritime, Aviation, Oil & Gas, among other fields, has committed N130 million as support fund towards the fight against the COVID-19 pandemic. Mr Adekunle Oyinloye, Group Managing Director, SIFAX Group, disclosed this in a statement in Lagos on Tuesday. The statement was signed by Mr Muyiwa…
The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Elder Chinedu Okoronkwo has appealed to President Muhammadu Buhari to grant marketers the window to bank transaction for petroleum products operations. Okoronkwo said this became urgent and necessary as members complaints inability to access banks for cash lodgment received from sales at their…
As the House of Representatives considers passing a stimulus bill to ensure free electricity supply for two months, Nigerians have expressed feelings for the proposal. The Speaker of the House of Representatives Femi Gbajabiamila has said that the aim of the bill was to mitigate the effects of the COVID-19 pandemic on Nigerians and local…
“As of today, subsidy/under-recovery is zero. Going forward, there will be no resort to either subsidy or under-recovery of any nature. The NNPC will just be another player in the market space. But we will be there for the country to sustain security of supply, at the cost of the market” – Mele Kyari, GMD…
