Many of the Nigerian banks that gave loans to core investors during the privatisation of the power sector in 2013 may have incurred losses, it has been learnt. It was gathered that the banks had, in the past four years, been struggling to ensure the repayment of the acquisition loans they granted to the power…
Gov. Rotimi Akeredolu of Ondo State has called on distribution companies (DISCOS) in the country to provide meters for all homes to avoid rifts between their staff members and their consumers. Akeredolu said this on Monday at the inauguration of a 60MVA transformer at the 132/33kV transmission substation in Akure. He said that if every…
The Transmission Company of Nigeria (TCN) has promised that it would attain the capacity to transmit 20,000 megawatts of electricity to Nigerians by 2021. TCN’s Managing Director, Mr. Usman Mohammed gave the assurance Monday during the inauguration of the 1x60MVA, 132/33KV transformer substation in Akure, Ondo State capital. He said the inauguration was in line…
Power Generating Companies (GenCos) have demanded the payment of outstanding balances for the energy they supplied to the Distribution Companies (DisCos) for over 24 months between 2015 and 2016. The Association of Power Generating Companies (APGC), in a statement by its Executive Secretary, Dr. Joy Ogaji, last weekend, listed six demands that will enable the…
The Federal Government on Tuesday put the total quantum of electricity that could not be generated and fed to the national grid at 3,721 megawatts. It said the unavailability of gas, transmission and distribution infrastructure as well as high frequency prevented the generation of over 3,700MW of electricity on August 20, 2018. The government’s latest…
The Chief Transformation and Strategy Officer of Ibadan Electricity Distribution Company (IBEDC), Iranola Ayodeji, has said that metering does not entirely solve the nation’s power challenges. According to him, there have been complaints from some metered customers on IBEDC network with respect to operations and how the meters run fast. He said most customers are…
The Transmission Company of Nigeria (TCN) may consider Public-Private Partnership (PPP) arrangement in the mix of options available to it to upgrade the capacity of Nigeria’s national grid. It was gathered that funding for the PPP option was part of the larger $486 million loan Nigeria received from the World Bank in February 2018 to…
Eko Electricity Distribution Company says it has provided 7,746 meters to its customers this year. The company also said a project to improve its estimated billing system was ongoing and would reduce cases of outrageous billing. The General Manager, Corporate Communications, EKEDC, Godwin Idemudia, said in a statement that the company had included the metering…
The Republics of Benin and Niger have paid $10.1m as electricity bill to Nigeria to avert being disconnected from their power source in Nigeria after the Federal Government threatened to disconnect debtors. It was also learnt that the countries made the payment through their respective power firms, with NIGELEC of the Republic of Niger paying…
Kaduna Electric says it lost over N50 million worth of equipment and installations to the activities of vandals across its franchise states between January and June 2018. Over 150 attacks were carried out within the period. A statement signed by the Head, Corporate Communication, Abdulazeez Abdullahi, said vandalism of their equipment and installations pose a…