Power

Govt wades into problems of new power investors

Dec 1, 2013

The Federal Government at the weekend responded to the tale of woes by new investors in the power sector, saying it was not under any illusion that the new dispensation in the sector won’t face some challenges before the return of stability in the operation of the new owners of power firms. The clarification came…

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FG to seek IFC, Islamic Bank support on power sector funding

Nov 29, 2013

The Federal Government yesterday said it was planning a stakeholders’ forum for investors in the power sector with a view to identifying the Gencos and Discos investors’ funding and other critical challenges and seeing how the unexplored investment opportunities in the nation’s capital market could be explored for their benefits and those of others interested…

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FG requires $9.4bn annual investment in power, gas sectors

Nov 29, 2013

The federal government will require a yearly investment of $9.4billion in the power and gas sectors to fuel the projected power growth that would be engendered by the recent sale of the assets of the Power Holding Company of Nigeria (PHCN). Speaking at the just-concluded West African Power Industry Convention (WAPIC) held in Lagos, the…

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Benin-Onitsha powerline: TCN confirms FG release of N3.1bn compensation

Nov 28, 2013

The Transmission Company of Nigeria, TCN, on Thursday in Benin said the Federal Government has released N1.3 billion for the payment of compensation delaying the completion of the 330KV single circuit transmission line 2nd Benin-Onitsha project. TCN Representative, Mrs Josephine Madu, made the disclosure during the inspection tour of members of the Fiscal Responsibility Commission (FRC)…

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REA seeks Israeli support on rural electrification

Nov 28, 2013

The Rural Electrification Agency (REA) has said it is seeking the technical support of Israel to further strengthen its rural electrification projects across the country. The Chairman of the agency’s board, Senator Jonathan Zwingina, disclosed this yesterday while receiving the Ambassador of Israel to Nigeria, Amb. Uriel Palti who paid a courtesy visit to REA…

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Post Privatisation: Blackout persists

Nov 28, 2013

Nearly a month after new owners took over the assets of the Power Holding Company of Nigeria, PHCN, electric power supply has remained irregular and, in some areas, worsened. Several reasons, according to investigations, are being adduced for the power situation in the country. While it was gathered that gas supply to power plants has…

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Power generation hits 4000mw after restoration of Okpai plant

Nov 28, 2013

The Transmission Company of Nigeria, TCN, on Wednesday announced that the nation’s power generation now hovers between 3,800 mega watts and 4,000 mega watts. Mrs Seun Olagunju, TCN General Manager, Public Affairs, disclosed this to the News Agency of Nigeria, NAN, in a telephone interview. She said that the restoration of power to 4,000 mega…

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Manufacturers to sell excess electricity

Nov 28, 2013

Lafarge Cement WAPCO Nigeria Plc, WAPCO, the country’s second-biggest cement producer, plans to sell about 40 mega watts of excess electricity to help ease power shortages in Nigeria. The company, 60 per cent owned by Paris-based Lafarge SA, uses only 40 to 50 megawatts out of 90 mega watts generated by its local power plant,…

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Egbin boss explains reasons for low power supply

Nov 28, 2013

Low power generation, population explosion, lack of maintenance, low transmission, obsolete equipment, lack of meters, haphazard business models, vandalism and low funding have been identified as major factors for epileptic electricity supply in the nation. The Managing Director of Egbin Power Plc, Mr. Mike Uzoigwe, who disclosed the factors, said the nation was generating below…

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New owners of power firms complain of challenges

Nov 28, 2013

Barely 27 days after taking over the operations of successor generation and distribution companies of the defunct Power Holding Company of Nigeria (PHCN), core investors of the privatised firms have finally come up with complaints over the actual operational challenges facing them. They made their complaints known to the Nigerian Electricity Regulatory Commission (NERC) at…

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