Banking. Revenue. TechnoBiz
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 […]
Electricity generation companies (GenCos) in the country sold electricity worth N294.16bn between January and May this year to the Nigeria Bulk Electricity Trading Plc (NBET), the bulk purchaser of generated power, for subsequent sale to distribution companies (DisCos). By the power sector regulatory regime, NBET, which is owned by the government, purchases electricity in bulk […]
Apparently concerned by the growing complaints against the recently introduced electricity tariff plan by millions of electricity consumers, the Nigerian Electricity Regulatory Commission (NERC) on Friday maintained that electricity Distribution Companies (DisCos) must not increase tariffs of customers enjoying less than 12 hours power supply daily. The NERC Commissioner, Legal Licensing and Compliance, Mr. Dafe […]
The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) providing bank guarantees to Nigeria Bulk Electricity Trading (NBET) Plc and the Transmission Company of Nigeria (TCN) on behalf of the electricity distribution companies (Discos) to take over electricity bill collections from customers. Similarly, the apex bank also charged the DMBs to ensure […]
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 […]