Banking. Revenue. TechnoBiz
The President of the African Energy Chamber (AEC), NJ Ayuk, on Friday urged the Nigerian Government to fast-track the Legislature’s ongoing deliberations on the Petroleum Industry Bill 2020 and enact it in view of its positive implications for improved investments in the continent’s energy sector. Ayuk, in an opinion article titled ‘Africa needs Pragmatic Free […]
The Investment Committee of the African Energy Chamber (AEC) has concluded its second meeting since inauguration with the members unveiling a new agenda that will facilitate raising billions of US dollar investments for energy projects in Africa. A news report by the African Press Organisation(APO) Group distributed for the AEC indicated that the committee acknowledged […]
The World Bank Group has approved $500 million to support the Nigerian government’s efforts targeted at improving its electricity distribution sector. A statement issued by the Breton Woods institution on the financing support, indicated that the project will help boost electricity access by improving the performance of the Electricity Distribution Companies (DISCOs) through a large-scale […]
Despite complaints by customers about the current tariff regime, the Federal Government has increased tariffs by about 50 percent for electricity consumers nationwide. The Nigerian Electricity Regulatory Commission (NERC) in its latest order copied all the distribution companies (Discos), stated that the upward hike in tariffs was necessitated by rising inflation rate, foreign exchange, generation […]
The Federal Government said it had concluded arrangements to embark on design and construction of captive hybrid power plants across a total of 15 universities and two Teaching Hospitals in the country. The Managing Director of Rural Electrification Agency, REA, Ahmad Salihijo Ahmad, who disclosed this while speaking at the commissioning of the solar hybrid […]
The Petroleum Industry Bill (PIB) on Tuesday passed through for second reading at the House of Representatives after being dogged by controversies among lawmakers several years after its submission by the Executive for passage. Precisely, the PIB was initiated by the Executive Arm of government about 18 years ago to promote transparency in the nation’s […]
The House Committee on Power on Tuesday turned down the 2021 budget proposal for the Transmission Company of Nigeria (TCN). This is even as the company’s Managing Director, Mallam Suleiman Abdulaziz, lamented the inclusion of projects by some powerful authorities in the company’s projects’ portfolio for the fiscal year. The Chairman House Committee on Power, […]
The Council for Regulation of Engineering in Nigeria (COREN) has advocated public and private sector partnership (PPP) arrangement to ensure professional supervision and access to infrastructure projects in the country as a strategic option of ensuring high standards and timely completion of the projects. The President of the Council, Engr. Ali Rabiu, made the appeal […]
The House of Representatives Committee on Power on Wednesday described as illegal President Muhammadu Buhari’s directive that the Nigeria Bulk Electricity Trading Company, NBET should become an agency under the Ministry of Finance. The Chairman of the House Committee on Power, Hon. Magaji D’au Aliyu, pointed out during the 2021 budget defence session at the […]
The Nigerian Electricity Regulatory Commission (NERC) has reported that its total revenue increased by 57 per cent in the first quarter of 2020. It attributed the improved revenue accruals to operating levies and Internally Generated Revenue (IGR) sources During the quarter, the power sector regulatory agency disclosed that its total expenditure rose to N1.94 billion, […]