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BPE Announces Interim Mgt Team For Abuja DisCo

The Bureau of Public Enterprises (BPE) has announced members of the interim management team for the crisis-ridden Abuja Electricity Distribution Company (AEDC) Plc. The members of the interim management team are, Interim Managing Director, Bada Akinwumi;  Interim Chief Business Officer, Sani Usman; Interim Chief Finance Officer, Babajide Ibironke;  Interim Chief Marketing Officer, Donald Etim; and […]

Banking Economy News Extra Latest News Power/Electricity

FG To Hike Power Tariff From December, Starts Free Meter Purchase

Electricity consumers in the country are expected to pay more following plans by the Federal Government to soon review upwards the power tariff in line with the Multi Year Tariff Order (MYTO). This  is even as the Nigerian Electricity Regulatory Commission (NERC) on Wednesday confirmed  government had commenced the procurement of four million meters for […]

Economy News Extra Latest News Power/Electricity

FG Raises Prices Of Electricity Meters On Forex, Inflation Uncertainties

Despite complaints by electricity consumers against the inadequacies of the electricity metering processes nationwide, the Federal Government on Thursday raised the cost of acquiring both single-phase and three-phase electricity meters effective from Monday, November 15, 2021. The upward review of the meter prices was conveyed in a circular dated November 11, 2021, issued by the […]

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Manufacturers Task FG On Implementation Of Executive Order 005

The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to ensure effective monitoring of the implementation of Executive Order 005, in order to enhance the nation’s  manufacturing sector’s competitiveness capacity and self-reliance. The President of the association, Engr. Mansur Ahmed, gave the charge at the opening ceremony of the association’s 3-day Made-in-Nigeria […]

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France To Invest $70Mn In Nigeria’s Renewable Energy Projects

The French Government has hinted of its plan to invest $70 million into Nigeria’s renewable energy projects. A member of the Project and Structured Finance, Sub Sahara Africa, Access Bank, Mr Chukwudumije Igwe, made this disclosure at the Sustainable Use of Natural Resources and Energy Finance (SUNREF) Nigeria programme investor conference in Lagos. has agreed […]

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Osinbajo Urges CBN On ESP Programmes’ Funding, Forex Strategy

Nigeria’s Vice President, Prof. Yemi Osinbajo, has urged the Central Bank of Nigeria (CBN) on faster disbursement of funds to fast-track the implementation of the Economic Sustainability Plan (ESP) , including the 5 million Solar Connection Scheme and the agriculture plans. In addition, he advised the apex bank to review the foreign exchange strategy with […]

Economy News Extra Latest News Power/Electricity

NDPHC’s Lafia Transmission Substation Ready For Commissioning

Nasarawa State residents are in ecstatic mood as the commissioning of 330/132/3kV, 2x150MVA and 2x60MVA transmission sub-station in Lafia, is just some weeks away. The commissioning of the project is historic as it will be the first time that the state capital, Lafia and its environments would be connected to the national grid since the state’s […]

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Nigeria Records 51% Oil Revenue Shortfall, As Buhari Proposes N3.6Trn For Debt Servicing In 2022

President Muhammadu Buhari on Thursday disclosed that the Federal Government’s share of oil revenue as at July this year totalled N570.23 billion, representing 51 percent shortfall from the budgetary target for the seven months period. Buhari  gave this hint in his address on the proposed N16.39 trillion Appropriation Bill 2022 at the National Assembly. He […]

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China’s Firms Suffer Power Outages, Smartphones’ Prices May Soar

Power outages in China’s industrial sector have been reported in some major cities and provinces with the potential that global shoppers, including Nigerians, may face possible shortages of smartphones and other goods ahead of Yuletide celebrations. The ugly development had negatively affected official energy use targets, thereby forcing Chinese factories to shut down while also […]

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5G Network Deployment To Commence January 2022 – Pantami

The Minister of Communication and Digital Economy,  Prof. Isa Pantami, on Thursday said that the deployment of the Five Generation (5G) network in the country would begin from in January 2022. The minister, who made the disclosure in Maiduguri at a Town Hall meeting organized to discuss the challenges  of power and telecommunications infrastructure vandalism […]