Power

Afam to add 1000 megawatts to power supply – Taleveras

Dec 25, 2013

Rivers State Government-led consortium, Taleveras Group, new owners of Afam Generation Company (Genco), says it plans an additional 1000 megawatts to the current electricity supply nationwide. The company formally took over the plant, following the signing of Sales Purchase Agreement (SPA) with the Federal Government yesterday in Abuja. Speaking at the agreement signing ceremony between…

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FG spent N360b to settle PHCN workers, says BPE boss

Dec 25, 2013

The Federal Government, on Tuesday, said it had spent over N360 billion for payment of severance benefits to workers of the defunct Power Holding company of Nigeria (PHCN). In an interview with the News Agency of Nigeria (NAN), Director-General, Bureau of Public Enterprise (BPE), Benjamin Dikki said the payment was in accordance with the agreement…

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Power firms must pay their debts – Diamond Bank MD

Dec 25, 2013

Power firms must meet their debt obligations to banks or lose out, the Group Managing Director, Diamond Bank Plc, Dr Alex Otti has said. At a national discourse in Lagos, Otti said the firms were required to pay back debts owed the banks to sustain the relationship. He said: “In respect of the firms that…

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Why NIPP’s experience slow growth – Expert

Dec 25, 2013

Delays in securing approval from relevant authorities by contractors is affecting the growth of the National Independent Power Plants (NIPPs), the Chairman, Electric Power Foundation, Otis Anyaeji, has said. Anyaeji, in a paper titled: ‘Nigeria’s Power Sector: Contractors’ Expectations,’ and delivered during a stakeholders’ programme in Lagos, said the problems made the plants to generate…

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NERC harps on transparency in the power sector

Dec 25, 2013

The National Electricity Regulatory Commission (NERC) is set to influence the culture of transparency and accountability in Nigeria’s electricity sector. The culture is aimed at enhancing the orderly and sustainable development in line with its mandate to carry out effective regulation of the sector. The Chairman/Chief Executive Officer of NERC, Dr. Sam Amadi who confirmed…

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Group faults PHCN on contracts variations

Dec 25, 2013

A group, Nigerian Contracts Monitoring Coalition, has blamed the delay on execution of projects under the Power Holding Company of Nigeria (PHCN) on mild penalties. Its Head, Mrs Seember Nyager, told The Nation that the law guiding projects execution has been relaxed, resulting in the abandonment of some contracts. She said the penalty clause was…

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Power firms can’t collect tariffs efficiently – FG

Dec 25, 2013

Following the sacking of over 50 per cent of the workforce of the defunct Power Holding Company of Nigeria, the new owners of the electricity distribution companies are finding it tough to locate revenue generation areas in order to collect tariffs from customers, the Federal Government has said. It said some of the Discos had…

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Schneider Electric, Mitsumi sign distributorship agreement

Dec 24, 2013

Schneider Electric has signed an agreement with Mitsumi Distribution for the distribution of products of APC by Schneider Electric in Nigeria and Ghana. Mitsumi Distribution will be responsible for the distribution of APC’s home, home office, small and large corporation products in both countries based on the agreement. Speaking at the signing ceremony, Ayo Adegboye,…

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Abuja Disco dismisses increase in tariff

Dec 24, 2013

The Abuja Distribution Company has dismissed reports on tariff increase assumed by customers saying that any such increase shall be communicated to electricity customers. In a statement issued by the management, yesterday, Abuja Disco said it “acknowledges the comments and suggestions from our consumers in the capital city on power supply situation in their location”,…

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BPE to open bids for NIPP plants January

Dec 24, 2013

The financial bids for the 10 power plants constructed by the Federal Government under the National Integrated Power Project will open in January, the Director-General, Bureau of Public Enterprises, Mr. Benjamin Dikki, has said. Dikki said this at the signing of the Share Purchase Agreement between the privatisation agency and two power companies that bought…

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