Power

Investors eye captive power to improve supply after PHCN takeover

Oct 31, 2013

Eagerly awaiting the physical handover of the privatised Power Holding Company of Nigeria’s (PHCN) successor companies by the Federal Government, buyers of the distribution companies (Discos) are considering tapping into off-grid electricity after takeover to provide better services to their customers. This is an indication of their realisation of the enormity of the challenges ahead…

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FG to hand over power assets tomorrow

Oct 31, 2013

Vice-President and Chairman of the National Council on Privatisation (NCP), Alhaji Namadi Sambo, will tomorrow formally hand over the physical assets of 14 Power Holding Company of Nigeria (PHCN) successor companies to their new owners. The hand over would coincide with the decision by the National Union of Electricity Employees (NUEE) to withdraw its members…

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There’s enough coal to generate electricity for 30 years – Nebo

Oct 30, 2013

Minister of Power, Chinedu Nebo said the Federal Government is determined to develop coal as a major source of power, noting that the quantum of coal deposit in the country is large enough to provide electricity for the next 20 to 30 years. Receiving the Zuma Energy Group, led by its Chairman, Dr. Innocent Ezuma…

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Indigenous firms partner Ikeja DISCO on meter installation

Oct 30, 2013

The Ikeja Electricity Distribution Company has partnered with six indigenous pre-paid meter manufacturing companies on effective meter procurement and installation to customers in order to bring the long era of crazy billing of consumers to an end. Ikeja DISCO at the weekend zone launched the Credited Advanced Payment for Metering Implementation, CAPMI scheme in Lagos.…

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Insufficient gas still a challenge to power generation

Oct 30, 2013

As a major gas province with estimated 187 trillion standard cubic feet of gas and several gas-powered power plants, the world expected Nigeria to generate adequate electricity, capable of meeting the demand of its citizens and other nationals. The plants, including AES barge, Aba power plant, Afam 1V, V and V1, Olaoji power plant, Calabar…

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Auditor-general queries Reps committee over N31m NERC donation

Oct 30, 2013

There were revelations on Tuesday that the House of Representatives Committee on Power collected N31m from the Nigerian Electricity Regulatory Commission to organise a training workshop for members but did not account for the money. The Committee on Public Accounts heard that the power committee took the money in 2010 but there was no evidence…

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Forte Oil CEO sees profit tripling on power investment

Oct 29, 2013

Forte Oil Plc, an operator of petrol stations in Nigeria, expects profit to triple next year as investments in electricity generation drive up revenue, reports Bloomberg. “Group net income will be up to N11 billion from a conservative net-profit estimate of N3.4 billion for 2013,” chief executive officer, Akin Akinfemiwa, said in Lagos. The power…

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Kainji turbine gets first turnaround maintenance in 40 years

Oct 29, 2013

The Director General of National Power Training Institute of Nigeria (NAPTIN), Engr. Reuben Okeke, has disclosed that the power generating turbine of the Kainji Dam is currently undergoing turnaround maintenance for the first time after 40 years of its operation. Engr. Okeke who stated this while conducting energy correspondents round the facility of the first…

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PHCN loses equipment to vandals

Oct 29, 2013

The Power Holding Company of Nigeria (PHCN) has lost equipment worth millions of naira to theft and vandalism, less than two months to the January 2014 deadline for the power generation and distribution companies to start operation. The Nation learnt that materials, such as cables and wires, among others, had either been stolen or vandalised…

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FG orders TCN on Ondo/Akure feeder line

Oct 29, 2013

The Federal Government has directed the Transmission Company of Nigeria, TCN, to immediately commence the design and procurement of Omotosho/Ondo/Akure 132KV feeder line. When completed, the new feeder lines would relieve the existing Akure 132kv lines and also increase the capacity and availability of electricity spply to Ondo, Ekitipupa, Igbokoda, Akure among other communities in…

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