The World Bank has pledged to support Nigeria’s power sector and infrastructure development with about $1.4m, the Minister of Finance, Dr. Ngozi Okonjo-Iweala, announced in Washington DC, United States of America. The minister said this when she briefed newsmen on Nigeria’s delegation meeting with the bank at the Annual meeting of the World Bank and…
Read MoreOver $3bn is expected from the sale of 17 successor companies carved out from the Power Holding Company of Nigeria, Director General of the Bureau of Public Enterprises, Mr. Benjamin Dikki, has said. Dikki said this at an investors’ forum in New York, according to a statement made available to our correspondent by the Head…
Read MoreSome industrialists in Lagos have criticised the Power Holding Company of Nigeria, PHCN, for failure to supply them pre-paid meters after they had applied for the meters some years ago. They alleged that some PHCN officials told them that their electricity consumption would still be based on estimation. Some of the industrial customers told Vanguard…
Read MoreThe full payment of entitlements to 38,000 workers of the Power Holding Company of Nigeria, PHCN, has commenced. The Director General the Bureau of Public Enterprise, BPE, Mr. Benjamin Ezra Dikki, disclosed this during the visit of the House of Representatives Committee on Privatisation and Commercialisation to the agency. Dikki explained that some 6,700 staff…
Read MoreRecent revelations that the investors who have acquired the assets of the Power Holding Company of Nigeria (PHCN) have begun lobbying for another increase in electricity tariffs, has underscored the need for the Nigerian Electricity Regulatory Commission (NERC) to demonstrate enough capacity to find a balance between the expectations of operators and consumers, Ejiofor Alike…
Read MoreThe Nigerian Electricity Regulatory Commission (NERC) has asked new owners of privatised Power Holding Company of Nigeria (PHCN) to exercise some restraint in their fervent demand to be handed over their acquired power utilities. Chairman of NERC, Dr. Sam Amadi, disclosed to the investors in Abuja that there was more to the process of handing…
Read MoreThe Nigeria Bulk Electricity Trading Plc (NBET) has expressed its preference for a preservation of its capitalisation funds for the final commencement of the Transition Electricity Market (TEM) as well as its further expansion in the emerging Nigerian Electricity Supply Industry (NESI). Managing Director of NBET, Rumundaka Wonodi, who made a presentation at the recent…
Read MoreThe new investors of successor distribution companies created from the unbundling of the Power Holding Company of Nigeria (PHCN) have picked holes in the proposed “allowable revenue” to be adopted in the interim electricity market by the Nigeria Electricity Regulatory Commission (NERC). Four of the successor PHCN distribution companies that collectively made a presentation in…
Read MoreEnphase Energy, Inc. (NASDAQ: ENPH), announced recently its Clinton Global Initiative (CGI) Commitment to Action. Enphase has partnered with Beacon Power Services to provide a clean and reliable energy alternative in Abuja, Nigeria, through piloting an innovative solar energy microgrid system. “Enphase is proud to have created a Clinton Global Initiative commitment to help address…
Read MoreThe Management of Aluminium Smelter Company of Nigeria (ALSCON) at Ikot Abasi in Akwa Ibom state has pleaded with the Federal Government to link its internally generated gas fired electric power plant to the national grid as it could serve as an important backup of electricity supply to the smelter in the event of gas…
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