The Federal Government on Tuesday disclosed that it had issued 13 new licences for the generation of off-grid and embedded power, independent electricity distribution and trading of electricity. The disclosure, which was contained in the Nigerian Electricity Regulatory Commission (NERC) report listed the new licencees as Daybreak Power Solutions Limited, which was issued eight licences […]
The Ministry of Finance Incorporated (MOFI) has been directed by the Federal Government to take over from the Bureau of Public Enterprises (BPE), its equity holdings in the 11 successor electricity distribution companies (DiSCos) of the defunct Power Holding Company of Nigeria (PHCN). To ensure this, the MOFI was instructed, in a memo signed by […]
The detained former Minister of Power and Steel, Dr. Olu Agunloye, on Thursday secured legal reprieve as a Federal High Court, Abuja granted him a N50 million bail with two sureties. Ruling on the bail application filed by the accused, Justice Jude Onwuegbuzie, said the two sureties must be “reputable” and “people of means” resident […]
….Estimates GDP To Grow By 3.7% The World Bank in its just published ‘Global Economic Prospects For January 2024’ has projected that Nigeria’s per capita income will return to its pre-pandemic level by 2025. The Bretton Woods institution hinged its latest forecasts on current reforms initiatives of the Nigerian government which, it also noted, would […]
The Nigerian Electricity Regulatory Commission (NERC) has hinted of its plans to sell the Kaduna Electricity Distribution Plc (KEDC), the sixth largest power distribution utility over a $130 million indebtedness. The Federal Government, through its Bureau of Public Enterprises (BPE), also owns 40% equity in the firm. A news report from Reuters indicated that the […]
The Nigeria Sovereign Investment Authority (NSIA) and All On, a Nigerian impact investor with focus on renewable energy, have announced a collaborative initiative to deepen electricity supply in energy-deprived communities across the country. Under the arrangement, the partners will deploy Distributed Renewable Energy (DRE), a transformative approach that utilizes small-scale solutions like solar mini-grids and […]
The Lagos Chamber of Commerce and Industry (LCCI) on Monday charged the President Bola Tinubu-led administration on prevailing economic challenges in the country and specifically to provide more detailed plans and strategies to tackle inflation, under-employment, insecurity, and social inequality in the country. The leading organized private sector (OPS) group, in its statement on the […]
The Nigerian Electricity Regulatory Commission (NERC), has bemoaned the lingering metering gap in view of the negative impact on electricity customers on estimated billing. To address the lingering challenge, the commission urged Electricity Distribution Companies (DisCos) to utilise any of the five meter financing frameworks provided in the 2021 Meter Asset Provider (MAP) and the […]
The Nigerian Content Development and Monitoring Board (NCDMB) has commissioned Amal Technologies Gas Leak Detection Device and Printed Circuit Board Manufacturing Facility at Idu, Abuja, in furtherance of its sustained efforts to tackle the growing oil leakages and thefts in the hydrocarbon resources industry in the country. In his remarks at the ceremony, the Minister […]
Following remarkable efforts of the President Bola Tinubu-led administration to attract foreign investments into key sectors of the nation’s economy at the just concluded Conference of Parties (COP28) in Dubai, the Nigerian National Petroleum Company Limited (NNPCL) has signed a Memorandum of Understanding (MoU) with TotalEnergies for the adoption and deployment of a methane detection […]