Power

Peterside lauds BPE over successful handover of power assets

Nov 4, 2013

Chairman of the Technical Committee of the National Council on Privatisation (NCP), Mr. Atedo Peterside, has congratulated the Bureau of Public Enterprises (BPE) for the successful handover of 10 distribution companies and four generation companies unbundled from the defunct Power Holding Company of Nigeria (PHCN). In a statement Sunday, Peterside urged the privatisation agency to…

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Power supply drops by 400MW as Shell’s Afam VI is shut down

Nov 4, 2013

Nationwide electricity supply is expected to drop by 400 megawatts (MW) as the 650MW capacity Shell Petroleum Development Company’s (SPDC) Afam VI power 400MW will be shut down for about a week. A statement from the Transmission Company of Nigeria (TCN), Sunday which confirmed the development stated that there would be a reduction in generation…

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Power reform will reduce corruption – Dagogo-Jack

Nov 4, 2013

Chairman of the Presidential Task Force on Power, Beks Dagogo-Jack, has expressed strong conviction that ongoing sweeping electricity market reform will translate in a drastic reduction in corruption in Nigeria. Speaking on the hand over of power assets to new owners at the weekend, Dagogo-Jack said: “This successfully concluded power sector reform will in the…

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Nigerians react to handover of PHCN successor companies

Nov 4, 2013

Nigerians have reacted to the handover of 16 successor companies to Power Holding Company of Nigeria. The Vice-President, Alhaji Namadi Sambo, on Friday handed over 11 power distribution and five generation companies, created out of PHCN, to their private owners on behalf of the Federal Government. While some consumers have expressed the hope of getting…

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The power sector privatisation: The journey so far

Nov 2, 2013

Following the controversies which shrouded the privatisation programme of the federal government during the administration of former President Olusegun Obasanjo, the National Council on Privatisation (NCP) had in 1999 constituted the Electricity Power Sector Implementation Committee (EPIC) to undertake a comprehensive study and review of the entire industry in order to prepare grounds for liberalising…

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For power sector, it’s a new dawn

Nov 2, 2013

A major milestone was achieved Friday in the nation’s bid to reposition the power sector for stable electricity supply with the hand over of operations of the privatised generation and distribution companies to their new owners. At yesterday’s events, four power generation companies; Ughelli Plant, Geregu I Plant, Kainji Hydro and Shiroro Hydro, and ten…

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Power sector to generate $40bn investment in 10 years – Govt

Nov 2, 2013

President Goodluck Jonathan on Friday said that more than 40 billion dollars worth of investment would be generated by the power sector in the next 10 years. Jonathan, who was represented by the Minister of Industry, Trade and Investment, Mr Olusegun Aganga, gave the assurance at the 10th Lagos International Trade Fair. He said that…

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Govt dissolves PHCN, pays workers N360bn

Nov 2, 2013

The Federal Government yesterday handed over the Power Holding Company of Nigeria, PHCN, and the 14 successor companies created following the unbundling of the PHCN to their individual new owners across the country in spite of threats by the former workers to cause crises during the ceremony across the country. The handover ceremonies took place…

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Jonathan sees reforming electricity supply as the key to re-election

Nov 1, 2013

The privatisation of assets held by Power Holding Company of Nigeria (PHCN) would be one of the industry’s success stories of 2013, even had it not taken place in Africa’s most populous country. In most cases, generation and distribution companies whose divestment, recapitalisation, renovation and expansion has been promised for years have finally been handed…

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Federal Government, workers agree on firms’ handover

Nov 1, 2013

The Federal Government and labour unions in the power sector on Thursday night agreed to carry on with the physical handover of the electricity distribution and generation companies to their core investors today (Friday). The Permanent Secretary, Ministry of Power, Mr. Godknows Igali, said both parties agreed on the termination of labour-related matters and the…

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