Transnational Corporation of Nigeria Plc, (Transcorp Plc) has been named the preferred bidder for Afam Electricity Generation Company (GenCo) in furtherance of government’s efforts to increase electricity generation through private sector investments. Transcorp was successful with its offer of N105.3 billion (about $293 million) for the power plant, which operates a natural-gas fired power plant […]
Despite concerns by some analysts and the International Monetary Fund (IMF) about Nigeria’s rising debt stock, the Federal Executive Council (FEC) has approved another $247.3 million foreign loan for infrastructure development. Nigeria’s domestic and foreign debt had jumped from N12.12 trillion in 2015 to N24.38 trillion in 2018. Giving a breakdown of the loan based […]
The Association of Bureaux De Change Operators of Nigeria (ABCON) has canvassed the need for government to fast-track the implementation of the power sector reform programme as a desirable step towards providing stable electricity for households and businesses in the country. This is even as it called on its member-entities BDCs to adopt the principle […]
The Managing Director, Afam Power Plc, Mr Olumide Obademi, on Friday appealed to the Federal Government for adequate budgetary provision to enable the company remain competitive in the nation’s power generation market. He made the appeal in Afam, Rivers State when principal officials of the Federal Ministry of Power, Works and Housing embarked on a facility inspection […]
Nigeria’s power sector regulator, the Nigerian Electricity Regulatory Commission (NERC) has flawed the position of the electricity distribution companies (Discos) on meter supply to consumers, saying the responsibility is that of the companies based on the provisions of the Meter Asset Provider (MAP) Regulations 2018. The commission, in a statement maintained that the DisCos’ role […]
One of the licensed meter manufacturing companies in the country, Momas Electricity Meter Manufacturing Company Ltd. (MEMMCOL), on Thursday urged the Central Bank of Nigeria (CBN) to create a credit line of single digit interest rate to meter manufacturers to support manufacturing entities’ current efforts to ensure adequate distribution of meters to electricity consumers nationwide. […]
The National Bureau of Statistics (NBS) has reported that the 11 electricity Distribution Companies (DisCos) in the country so far supplied a total of 1,669,675 units of prepaid meters to consumers nationwide as at the end of December 2018.. According to the official statistics producing and reporting agency in its latest ‘Power Sector Report: Energy […]
The Federal Government has unveiled plans to meet 30 percent of its energy needs from renewable energy sources by 2030. The Minister of Works, Power and Housing, Babatunde Fashola, gave this hint in his keynote address at the 2018 pre-conference workshop of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos The minister said that […]
The Federal Government and multilateral donor agencies are expected to sign three key transmission projects deals worth $956 million to be executed by the Transmission Company of Nigeria under its national grid expansion plan before this month ends. Already, a meeting had been held between the TCN and representatives of the multilateral donor agencies in […]
The Nigerian Electricity Regulatory Commission (NERC) has reported that the major constraints experienced in the country’s electricity sector in the first quarter (Q1) of 2018, is due largely to gas supply shortfall to power generation companies (Gencos). In its just published Q1 2018 quarterly report of activities in the sector, the Commission stated that 74 […]