Power

Japan to strengthen transmission infrastructure in Lagos with $200m

Nov 6, 2013

Building on the conclusion of its electricity privatisation programme, Nigeria has entered into an agreement with Japan to collectively tackle expected challenges in the  country’s electricity transmission network. The agreement between both countries will apart from other project commitments, also see Japan committing as much as $200 million for the upgrade of transmission infrastructure in…

Read More

‘Integrated Energy will revamp Yola electricity company with N14 billion’

Nov 5, 2013

The Integrated Energy Distribution and Marketing Ltd., the new investors for Yola Electricity Company, will spend N14 billion to reposition the company for better service delivery. Managing Director of the electricity company, Mr Jules Allantara, made this known when he briefed newsmen in Yola yesterday. Allantara assured consumers in Adamawa, Borno, Taraba and Yobe states…

Read More

Ex-finance minister, Okongwu slams FG over privatisation of power sector

Nov 5, 2013

Former Minister of Finance and National Planning, Dr. Chu S.P. Okongwu has criticised the poor handling of the privatisation of the power sector, saying that what the Federal Government actually did was to hand over public assets to their friends in the name of privatisation. Okongwu who spoke in an interview with Vanguard in Enugu…

Read More

FG beefs up security around power assets

Nov 5, 2013

The Federal Government has beefed up security around all power assets and installations that were handed over to new owners across the country at the weekend. This emerged as the National Security Adviser (NSA) ordered the Nigeria Security and Civil Defence Corps (NSCDC) immediately begin to tall these power assets. A statement by the NSCDC…

Read More

Vigeo Power seeks criminalisation of electricity theft

Nov 5, 2013

Vigeo Power Limited, the new owner of the Benin Electricity Distribution Company Plc has advocated for the criminalisation of electricity theft and application of appropriate penalties for recovering lost revenue arising from theft. Speaking in Benin, Edo State when he was handed over the Benin Disco at the weekend, the Chairman of Vigeo Power Limited, Victor Gbolade…

Read More

Banks disbursed N109bn to 20 power firms –CBN

Nov 5, 2013

Eleven Deposit Money Banks had so far disbursed the sum of N109.3bn to 20 companies from the N300bn Power and Airlines Intervention Fund provided by the Central Bank of Nigeria in 2010, the Governor, CBN, Mr. Lamido Sanusi, said on Monday. Sanusi, who stated this in a keynote address at the second biennial regional conference…

Read More

Power privatization: Many challenges ahead

Nov 5, 2013

The September 30 handover of share certificates to the new owners of five generating companies, GENCOS and 10 distribution companies, DISCOS, by President Goodluck Jonathan no doubt elicited a lot of hope and enthusiasm among Nigerians. At the event President Jonathan said, “To the Nigerian people who have demonstrated such great patience and confidence, putting…

Read More

CBN to clampdown on banks over power funding

Nov 5, 2013

The Central Bank of Nigeria, CBN, is set to curtail the excesses of banks as regards their funding of power projects. This is in the light of recent concerns over the viability of the Power Holding Company of Nigeria, PHCN’s assets acquired by new investors. The concern stems from experts who are of the view that…

Read More

New firm to provide technical services in NESI

Nov 5, 2013

The newly-created Electricity Management Services Limited (EMSL) has said that it was not created to take up any regulatory role in Nigeria’s emerging electricity market but to provide the much-needed technical support services for improved power production and supply in the Nigerian Electricity Supply Industry (NESI). The firm said its creation was in sync with…

Read More

Power takeover: Different strokes for different folks

Nov 5, 2013

Following the takeover of the power distribution and generation companies by new investors last week, it has emerged that the owners of the electricity utilities have adopted different short to mid-term management strategies to run their businesses. THISDAY learnt that while West Power and Gas, the new owners of Eko Distribution Company (Disco), have decided…

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...