Power

CBN, others strategise on power financing

Jul 2, 2013

The Central Bank of Nigeria (CBN) and other stakeholders in the financial services sector have begun brainstorming on a banking industry funding strategy for the power sector, which will grant the template a quasi-regulatory status. They are also expected to consider inputs from key non-bank stakeholders such as the Bureau of Public Enterprises (BPE), Nigerian…

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TCN restores power supply to Northwest, Niger Republic

Jul 2, 2013

The Transmission Company of Nigeria on Monday said it had restored power supply to Kebbi and Sokoto states as well as Niamey in Niger Republic on a temporary basis. It said it had constructed a bypass for the transmission towers that collapsed as a result of heavy rainstorm on May 25, which disrupted electricity supply…

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Suswam assures foreign investors of transparency in NIPP privatisation

Jun 28, 2013

The Governor of Benue State, Hon. Gabriel Suswam, has assured international investors of a transparent transaction in the ongoing Nigeria’s sale of ten power plants owned by the Niger Delta Power Holding Company Limited under the National Integrated Power Project (NIPP). Suswam made this statement, when he represented the Vice-President, Namadi Sambo, as  chairman at…

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Power sector privatization to create 40,000 jobs

Jun 26, 2013

Despite delays in the implementation of the privatization of the power sector, with the unbundling of the Power Holding Company of Nigeria (PHCN) strong indications have emerged that the project was capable of generating 40,000 fresh jobs when fully operational. The job generation figure, which is to be achieved over a five-year period (2014–2019) would…

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Gas supply to power plants increases

Jun 26, 2013

Gas supply to power plants across the country has increased as about 300 million standard cubic feet of the product is currently being pumped into the system. The Chief Executive Officer, Nigerian Gas Company, Mr. Saidu Mohammed, who spoke with our correspondent on the telephone on Tuesday, said, “We have been able to restore gas…

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Investors to take over PHCN firms in October — BPE

Jun 26, 2013

Core investors in the successor companies carved out of the Power Holding Company of Nigeria are expected to fully take over the electricity companies in October, the Director-General, Bureau of Public Enterprises, Mr. Benjamin Dikki, has said. Dikki, who said this in a statement made available to our correspondent in Abuja on Tuesday by Head…

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Bauchi power plant to run on fuel supply from Niger, Chad

Jun 25, 2013

The yet-to-be constructed 180 megawatts (MW)-capacity Bauchi independent thermal power plant is expected to source its fuel from neighbouring Niger Republic and Chad. Governor of Bauchi State, Isa Yuguda who made the disclosure in an interview with the THISDAY Board of Editors in Abuja explained that the state’s proximity to the two countries, which is…

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Nigerians to experience more power cuts

Jun 25, 2013

Nigerians will continue to contend with erratic power supply for the time being as gas shortage, caused by pipeline vandalism, continues to hamper power generation at the different thermal plants in the country. Power generation had dropped by 1,598 megawatts on Sunday as eight electricity generating stations were hit by gas shortage caused by vandalism…

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43,400 PHCN workers cleared for payment of severance entitlement

Jun 24, 2013

No fewer than 43,400 workers of the Power Holding Company of Nigeria (PHCN) are eligible for severance benefit, the Ministry of Power has said. The Special Assistant on Media and Communication to the Minister of Power, Mrs. Kande Daniel, disclosed this to the News Agency of Nigeria (NAN) in Lagos yesterday. “The committee, headed by…

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Consumers groan as power supply worsens

Jun 21, 2013

Electricity consumers have condemned the worsening power situation in the country and blamed the Power Holding Company of Nigeria for gross inefficiency. They lamented that power supply had become poorer in recent times and warned that the situation was no longer acceptable, especially as they were still being forced to pay ‘crazy bills’ by PHCN.…

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