Power

Reps probe NBET’s finances in six years

May 22, 2020

The House of Representatives has resolved to investigate the activities of the Nigerian Bulk Electricity Trading Company from 2015 to 2020. The probe is based on a motion moved by Mr Muhammed Wudil and 24 others at the plenary on Tuesday, entitled, ‘Need to Investigate Nigerian Bulk Electricity Trading Company’s Activities from 2015 to Date.’…

Read More

Crisis brews in power sector over removal of TCN boss

May 21, 2020

A crisis is brewing in the power sector as the two unions in the industry have taken sides over the removal of the managing director of the Transmission Company of Nigeria (TCN), Usman Gur Mohammed. While the National Union of Electricity Employees is calling for the resignation of the Minister of Power, Mamman Saleh, the…

Read More

Privatisation has exposed weakness of Nigeria’s power sector – Gencos

May 21, 2020

Electricity generation companies in the country have said the privatisation of the power sector has exposed the inherent structural weakness in the sector. The Gencos said they had continued to perform in line with industry agreements despite the challenges plaguing the sector. The Gencos stated these on Wednesday through their umbrella body while reacting to…

Read More

Senate seeks immediate reversal of power privatisation

May 20, 2020

The Senate on Tuesday asked the Federal Government to consider a comprehensive review of the power privatisation policy with a view to reversing the current arrangement. The red chamber said Nigerians would not enjoy stable power supply in the next 10 years if the activities of the distribution companies were not reviewed and restructured. The…

Read More

Sule Ahmed Abdulaziz appointed as new acting MD of TCN

May 20, 2020

President Muhammadu Buhari on Tuesday approved the appointment of Sule Ahmed Abdulaziz as the new Acting Managing Director for the Transmission Company of Nigeria. Sule Ahmed Abdulaziz replaced Usman Gur Mohammed, who has been heading the affairs of the company as the Managing director. Maman Saleh, the Minister of Power confirmed the Presidential approval of…

Read More

Economic lockdown reduces electricity demand by 20% per month

May 19, 2020

Economic lockdowns imposed by countries to contain the spread of coronavirus cuts electricity demand on average by at least 20 percent every month or over 1.5% on an annual basis according to findings by International Energy Agency, a Paris-based think-tank advising European countries on energy efficiency. Daily data collected for more than 30 countries, representing…

Read More

Nigerian electricity workers threaten fresh strike

May 18, 2020

The Senior Staff Association of Electricity and Allied Companies (SSAEAC) has threatened to embark on a fresh strike. The General Secretary, Abubakar Dubagari, issued the threat in a statement on Friday. This followed the letter sacking its President, Chris Okonkwo. The Managing Director, Transmission Company of Nigeria (TCN), Umar Mohammed, had on April 24 issued…

Read More

Ekiti approves IPP to improve power supply in the state

May 18, 2020

Ekiti State Government has approved the development and operation of an Independent Power Plant in the state to improve power supply in the state. The Commissioner for Information, Muyiwa Olumilua, who disclosed this on Sunday said the IPP would also reduce costs incurred in the provision and fueling of generators. Olumilua, who said the project…

Read More

Nigerian homes spent N2tn on fuel, electricity in 2019 – NBS

May 17, 2020

Households in Nigeria spent a total of N2.02tn on fuel and electricity in 2019, the National Bureau of Statistics has said. The NBS said in a new report on consumption expenditure pattern that household expenditure on fuel/light accounted for 11.57 per cent of the total non-food consumption expenditure in 2019. Households spent N2.59tn on transport;…

Read More

AEDC investors, bank bicker over $18m privatization loan

May 17, 2020

Crisis is brewing between KANN Utility Company Limited, the lead investor in Abuja Electricity Distribution Company (AEDC) and the United Bank for Africa (UBA) over claims on repayment of the $18m acquisition loan the company secured in 2013 to acquire AEDC. Correspondent reports that AEDC was among the 11 Distribution Companies (DisCos) the federal government…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...