The Federal Government has committed the sum of N1.023 trillion in bailouts in the form of low interest loans and grants to Nigeria’s power sector within the last three years yet the country is unable to move the needle on stable power supply. In 2015, the Federal Government through the Central Bank of Nigeria (CBN)…
A former Minister of Power, Professor Chinedu Nebo said in a recent interview that he is convinced that Nigeria cannot get power sufficiency from the national grid alone but can deploy power generation to needed areas using the latest generation machines. He said; “I have been crying from the first day that I took office as…
The Minister of Power, Works and Housing, Mr. Babatunde Fashola, on Monday affirmed that the Nigerian Electricity Regulatory Commission (NERC) has enough regulatory options to use against any of the 11 electricity distribution companies (Discos) that fail to meet up with the federal government’s recent order to them to improve on their services to Nigerians…
The Transmission Company of Nigeria (TCN) says it has realigned the regional offices of the Independent System Operator (ISO), which is one of its business units. This was announced in a memo dated May 10, 2018, signed by the Managing Director/CEO, Mr Usman Gur Mohammed, to all Heads of Divisions and Departments. TCN in the…
The total volume of unused electricity from Nigeria’s national grid will rise by 2,130 megawatts (MW), to add to an existing 2000MW idle volumes that power distribution companies (Discos) are unable to take to homes and offices in the country, the Minister of Power, Works and Housing, Mr. Babatunde Fashola has disclosed. Fashola, who stated…
THE nation’s power sector lost a total of N10.7 billion in the first week of July 2018, showing an increase of 13 per cent compared with N9.3 billion recorded in the last week of June 2018. A report obtained from the office of the Vice President Yemi Osinbajo, attributed the development to insufficient gas supply…
Most of the statements made last week Monday by the Minister of Power, Works and Housing, Babatunde Fashola, about the power sector are false, according to the electricity distribution companies. They said on Tuesday, in a document issued by the Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors, Sunday Oduntan, that comments made by…
Transnational Corporation of Nigeria (Transcorp) Plc recorded impressive growths in turnover and profitability in the first half with net profit rising by 161 per cent to about N10.9 billion. Key extracts of the interim report and accounts of Transcorp for the six-month period ended June 30, 2018 showed that turnover rose from N34.17 billion in…
The Bureau of Public Enterprises, BPE, yesterday, said most of the Distribution Companies, DISCOs, in Nigeria were technically insolvent. Director-General of the bureau, Alex Okoh, made this revelation during an interactive session at the instance of House Committee on Power, with critical stakeholders in the Nigerian power sector, including Nigeria Bulk Electricity Trading Company, NBET;…
Enugu Electricity Distribution Company (EEDC) yesterday said it has spent more than N10 billion on the procurement and installation of prepaid meters to its customers as part of efforts to end estimated billings in its area of coverage. The company also announced that it inherited more than 700,000 unmetered customers when it took over from…
