Power

Ministry clears air on Zungeru power project cost

Sep 15, 2013

The Federal Ministry of Power has described as “unfair” insinuations that the contract award for the Zungeru Hydroelectric Power Project was excessively high. The ministry made this rebuttal in a statement at the weekend while responding to a recent newspaper publication (not The Nation) which attempted a cost analysis of the contract and concluded that…

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BPE generates N251.5bn from 122 privatised firms

Sep 15, 2013

The Bureau of Public Enterprises, BPE, generated N251.5billion from 122 privatised firms handled from 1999 -2012, the Director-General, Benjamin Ezra Dikki, has disclosed. Dikki, who spoke while receiving a team from the Standard & Poors’ and Fitch Rating Agencies on a visit to the Bureau, said out of the amount, N147billion was remitted to the…

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Second edition of Power Nigeria to take place in October 2013

Sep 13, 2013

Nigerians most deprived of grid-based electricity in the world; government embraces renewable resources to generate 40,000 megawatts by 2020. Lagos, Nigeria, 16th September, 2013: The Nigerian government has set a target of generating 10,000 megawatts of electricity by the end of 2013 and 40,000 megawatts by 2020 to combat the growing power crisis in the…

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FG to hand over power firms on October 1

Sep 12, 2013

The Director General of the Bureau of Public Enterprises (BPE), Mr. Benjamin Dikki, has said that PHCN successor companies would be handed over to their new owners as from October 1, 2013. Dikki,who made this known at a breakfast meeting of the Lagos Business School in Lagos yesterday said with the power sector in private…

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Interstate Electrics may lose Enugu Disco

Sep 12, 2013

The successful bidder for Enugu Distribution Company, Interstate Electrics, may lose its bid, according to the feelers from the meeting of the Technical Sub Committee of the National Council on Privatisation, NCP, yesterday. The bid, it was learnt, may be awarded to the reserve bidder, Eastern Electric. The Sub Committee met yesterday to re-evaluate the…

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Firm invests N1.6bn in Magboro 90MW power plant

Sep 12, 2013

An electricity investment firm, Bresson AS Limited, has announced that a total sum of $10m (N1.6bn) has been invested in its 90 megawatts Magboro power plant along the Lagos-Ibadan Expressway, Ogun State. It said another $90m (N14.4bn) would be invested in the plant to complete the project. The Chairman, Bresson AS Limited, Mr. Gbenga Olawepo,…

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FG inaugurates company to take over PHCN functions

Sep 11, 2013

The Federal Government on Tuesday inaugurated the management team of the Electricity Management Services Limited, a new company that will take over some non-core professional services of the Power Holding Company, which will soon to be declared defunct. The Nigerian Electricity Power Sector Reform Act, 2005 provided for the EMS, which has been incorporated as…

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NCP Committee undecided on Interstate’s bid for Enugu Disco

Sep 11, 2013

The Technical Committee of the National Council on Privatisation (NCP), which met yesterday to take a decision on the privatisation of the successor companies created from the unbundling of Power Holding Company of Nigeria (PHCN), approved the successful bids of investors which made the August 21 payment deadline, but could not reach a conclusion on…

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Privatization not the answer to power problems – SSAEAC

Sep 11, 2013

Even after the near successful privatization of Nigeria’s power sector, the Senior Staff Association of Electricity and Allied Companies, SSAEAC, has maintained that privatization is not the answer to the nation’s power problems. The position of SSAEAC was made known by its President-General, Mr. Bede Opara, who said that the association based its position on…

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FG to finally liquidate PHCN with imminent declaration of TEM

Sep 11, 2013

The federal government has said its final liquidation of the Power Holding Company of Nigeria (PHCN) will be achieved with its imminent declaration of the Transitional Electricity Market (TEM) in the next couple of weeks. It said PHCN has functionally seized to exist, following the privatisation of its successor generation and distribution companies, but will…

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