The Federal Government has revved up its investment and policy moves to increase electricity megawatts from 4000 megawatts (MWTs) to 6,000 WHTs within the next three to six months to improve power supply. The Minister of Power, Mr Adebayo Adelabu, who made this disclosure on Monday during his meeting with the heads of power agencies […]
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 […]
Power generation companies (GenCos) in the country have listed six conditions that must be met by the Federal Government in order to avert a nationwide blackout. The first condition set by the GenCos for immediate consideration of the government is the payment of the outstanding balance due to them under the N213 billion Nigeria Electricity […]
The Federal Government today proposed to concession six hydro dams to private operators in furtherance of its efforts to boost power supply to rural dwellers and vulnerable members of the society. Under the proposed arrangement, the private investors will build, operate and transfer the hydro dams on terms to be agreed with the government. The […]