Budgeting Economy News Extra Infrastructure & Capital Projects Investments/Capital Market Latest News Power/Electricity

Nigeria Needs $5Bn Yearly To Boost Power Supply – Expert

An industry expert and General Manager, Sub-Saharan Africa, Process Automation, Schneider Electric, Engr. Ajibola Akindele, has projected that Nigeria would require between $3 and $5 billion annual investments over the next 15 years to actualize Nigeria’s industrialization goals. Akindele, in a statement, therefore, urged stakeholders in the nation’s power sector to upscale their investment in […]

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Oil, Power Firms’ Indebtedness To Banks Hits N5.14Trn In June

The Central Bank of Nigeria (CBN) has reported that oil and gas and power companies’ indebtedness to Nigerian banks increased from N5.94 trillion at the end of last year to N6.14 trillion by the end of June this year, representing about N1.20 trillion rise. The latest data obtained from the apex bank on the affected […]

Budgeting Economy News Extra Infrastructure & Capital Projects Latest News Power/Electricity

Nigeria Needs $400Bn To Provide Electricity For 25Mn Nigerians

The Minister of State for Power, Prince Goddy Jedy Agba, has projected that Nigeria would need about $400 billion between now and 2050 to provide stable electricity in over 25 million Nigerians currently lacking access to power supply. The minister made the projection during a media briefing in Lagos preparatory to the forthcoming 26th United […]

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BPE To Partner HYPPADEC On Hydro-Power Electricity To Host Communities

The Bureau of Public Enterprises (BPE) has hinted of its plans to collaborate with the Hydroelectric Power Producing Areas Development Commission (HYPPADEC) to better the lot of host communities of Hydro-Power Plants in the country. Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh , gave the pledge in Abuja on Wednesday, […]

Infrastructure & Capital Projects Latest News Power/Electricity Privatisation & Commerce Revenue

Quest Electricity Will Improve Quality Of Life In North East Zone – Okoh

Director General of the Bureau of Public Enterprises (BPE, Mr. Alex Okoh, has assured that Quest Electricity Nigeria Limited, the new investor in the Yola Electricity Distribution Company(YEDC) is committed to improving the quality of life of the inhabitants in the North East geopolitical zone through aggressive investment drive, thereby providing an economic tool for […]

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Group Sues Ikeja, Eko Discos Over Failure To Cap Customers’ Estimated Billing

A group, the All Electricity Consumers Protection Forum (AECPF), has sued the Ikeja Electricity Distribution Company and the Eko Electricity Distribution Company for failing to implement the order capping estimated billing of some of their customers. The suit dated July 12, 2021 was filed before an Ikeja High Court. According to a news report by […]

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FG Re-affirms Commitment To Completion Of NIPPs’ Sale

The Federal Government has assured prospective power investors that the five National Integrated Power Plants (NIPPs) put up for sale will go on as planned in furtherance of its efforts to boost power supply nationwide The five NIPP plants planned for sale are Benin Generation Company Limited at Ihovba, Edo State, Calabar Generation Company Limited, […]

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Africa Renewable Energy Fund II Achieves €130Mn First Close Target

The Africa Renewable Energy Fund II (AREF II) has achieved its first close at €130 million, following a joint investment of €17.5 million from the Sustainable Energy Fund for Africa (SEFA) and the Climate Technology Fund (CTF) through the African Development Bank (AfDB). AREF II, a successor to the original Fund being managed by Berkeley […]

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FG Reassures Nigerians On Cleaner Electricity

The Minister of State for Power, Prince Goddy Agba, on Friday reassured Nigerians on Federal Government’s commitment to improve power generation and distribution in the country through investments in environmental-friendly power generation technologies nationwide. The Minister, who gave the assurance during the Commissioning of 60kWP Solar Hybrid Mini-Grid Electrification project by Rural Electrification Agency, REA, […]