Power

Bayelsa faults claims on allocation for state‘s power project

Jan 7, 2014

Controversy has continued to trail the financing of the multibillion naira Bayelsa  State Government-owned power plant in Imiringi ,following the allegations that President Goodluck Jonathan used his office to allocate billions of federal government money to complete the project. Agitated by the allegation, the state government yesterday issued a refutal, saying contrary to the speculations,…

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New power assets owners grapple with revenue challenge

Jan 6, 2014

New investors in the power sector are groaning under the burden of acute revenue shortages because leakages which existed before they took over the assets remain largely unaddressed. The leakages include insufficient gas supply to generating companies from the Nigerian Gas Company and the consequent inability of the generating companies to churn out the power…

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Presidency denies fraud allegation over N1.8bn Bayelsa power project

Jan 6, 2014

President Goodluck Jonathan is asking the National Assembly to appropriate about N1.8 billion this year to help connect his home state of Bayelsa, to the national electricity grid, but this request is reportedly being interpreted in some quarters as an attempt to pocket the money. Investigations by PREMIUM TIMES, a web news service, revealed that…

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Govt threatens to revoke non-performing NIPP contracts

Jan 3, 2014

The federal government has threatened to revoke non-performing contracts as well as recover its mobilization funds from contractors who refuse to deliver their projects as at when due under the National Integrated Power Project (NIPP). James Olottu, Managing Director of  Niger Delta Power Holding Company (NDPHC), who announced this on Thursday in his New Year…

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No provision for electricity subsidy in 2014 Budget

Jan 2, 2014

The Federal Government didn’t make provisions for subsidy to low income consumers of electricity in the 2014 budget just as the current subsidy would expire on the termination of the 2013 budget. Speaking recently on the subsidy renewal, the Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, said the subsidy only had…

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Kano budgets N14.2bn for power, as rural electricity gulps N110m

Jan 2, 2014

Kano State government is to spend about N14.2 billion to develop its Independent Power Project (IPP) just as another N110 million has been allocated to the state’s Rural Electricity Board (REB) to facilitate rural electrification. This was disclosed by Governor Rabiu Musa Kwankwaso while presenting the ‘2014 Budget of Consolidation’ to the Kano State House…

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Power ministry budget still high despite privatisation

Jan 2, 2014

Despite the privatisation of the Power Holding Company of Nigeria (PHCN) assets, the Federal Ministry of Power has budgeted N62,449,100,632 to keep it afloat in 2014. This is just N11,813,279,26 less than the 2013 budget allocation. A breakdown of this year’s budget estimation shows that the bulk of the budget, about N24,912,292,467, would be allocated…

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Minister promises normal electricity supply

Jan 2, 2014

The Minister of Power, Professor Chinedu Nebo has assured that everything necessary is being done to normalise electricity supply to parts of the country where shortage has been experienced in the past few days and weeks. Nebo expressed deep regret over the situation in parts of Lagos and other areas that have suffered reduced supply.…

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Construction of Nigeria’s maiden LPG power plant takes off

Jan 1, 2014

The quest for optimal utilization of Liquefied Petroleum Gas (LPG) in the country may have received a boost as the construction of a new power plant technology was launched for the first time in the country. The LPG- power plant, being built by an indigenous energy firm, AsB Valiant Company Limited, is expected to take…

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PHCN Assets Sale: The Arduous Journey Ahead

Jan 1, 2014

In view of the physical transfer of the privatised Power Holding Company of Nigeria’s (PHCN) successor companies by the Federal Government in November, there has been cautious optimism amongst many Nigerians, analysts and stakeholders alike. Indeed, as the Chairman, Technical Committee of the National Council on Privatisation, Atedo Peterside aptly put it in his paper…

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