Power

FG to cut Manitoba’s power in N3.9 billion deal

Jan 9, 2014

The Federal Government has bowed to pressure and began a review of the N3.9 billion management contract given to Canadian company Manitoba over the Transmission Company of Nigeria (TCN). Manitoba Hydro International (MHI) took charge of TCN early last year in a $24.7 million contract that is expected to run for three years, aimed at…

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Private sector warns against fixed electricity charges

Jan 9, 2014

On the heels of President Goodluck Jonathan’s marching order on power sector investors to improve power supply by June this year, the Organised Private Sector has asked for the revision of the electricity billing system where manufacturers would be made to pay for what they actually consumed. They said currently, industrialists are made to pay…

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Gas shortage, transmission hitches threaten power supply – Investors

Jan 9, 2014

Private sector investors in the power generation and distribution companies on Wednesday said President Goodluck Jonathan’s directive to improve electricity supply across the country by June was being threatened by the inefficiency of the Transmission Company of Nigeria and inadequate supply of gas to thermal power generation plants. The President had, through the Minister of…

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FG to spend N21bn for stable electricity in 2014

Jan 9, 2014

The Federal Government is to spend N20.6 billion to ensure steady supply of power across the country in 2014.  The amount contained in the 2014 Federal Government’s 2014 budget proposal is 7.87 per cent less than the N22.36 billion budgeted for the same purpose in the 2013 budget. Major projects to be undertaken with the…

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Ikeja Disco spends N11m on vandalised equipment

Jan 9, 2014

The Ikeja Electricity Distribution Company said it had spent N11m on the replacement of vandalised distribution equipment within its network in the past six months. The company’s management, in a statement on Wednesday, said it had replaced vandalised components in 42 transformer distribution substations across its network. Assistant General Manager, (Public Affairs) of the company,…

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Govt approves NIPP phase II projects

Jan 8, 2014

The Federal Government has approved the next phase of the National Integrated Power Projects (NIPP), to include development of more hydro power stations and increase the electricity transmission grid. The NIPP phase II project, according to the Managing Director, Niger Delta Power Holding Company (NDPHC), James Olotu, would be funded with the proceeds from the…

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Senate C’ttee Chairman on Power calls for unbundling of TCN

Jan 8, 2014

The Chairman of Senate Committee on Power, Mr. Philip Aduda, has called for the review of the Manitoba contract and unbundling of the Transmission Company of Nigeria (TCN). Manitoba Hydro International (MHI) is a Canadian Electricity Company contracted by the federal government to manage the TCN. Aduda, who made the call in Abuja yesterday at…

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Jonathan issues six-month ultimatum on stable power

Jan 8, 2014

President Goodluck Jonathan has issued an explicit ultimatum to managers of Nigeria’s electricity sector, especially the Ministry of Power to as a matter of urgency ensure that the electricity generated is effectively transmitted and distributed across Nigeria within the next six months. Currently, Nigeria has a total installed generation capacity of 6,976.40 megawatts (MW) with…

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How China dominated N358.04b privatisation of power assets, by Nebo

Jan 7, 2014

Minister of Power, Professor Chinedu Nebo, on Monday said the lukewarm attitude and little enthusiasm displayed by Europe nations during the just concluded programme to privatise Nigeria’s power assets, allowed countries like China to seize the momentum, investing billions of dollars in the process. Nebo said this as the EU reaffirmed commitment, this time around,…

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NIPPs: A stitch in time for the power sector?

Jan 7, 2014

Power, in this New Year, remains a critical sector of the nation’s economy. Several billions have been put into the 2014 budget proposal to ensure a stable electricity supply in the country. It is expected that this year will witness a turnaround in the sector with the privatisation of power utilities late last year. This…

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