Power

Drop in electricity generation worries power investors

Aug 16, 2013

The persistent drop in electricity generation in the country is a threat to the early completion of the privatisation of the power sector, the preferred bidders of the power distribution companies have said. Our correspondent gathered on Wednesday that the nation was currently generating 2,919 megawatts of electricity. The preferred bidders wondered why the poor…

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FG assembles experts to investigate gas to power challenge

Aug 15, 2013

The federal government is currently assembling a team of experts across the oil industry to investigate in particular the cause of the severe leaks in the gas supply channels in the Eastern part of the country and determine measures to be taken to ameliorate the situation. This according to a recent statement from the Special…

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Reserve bidders prepare bids to take over Discos

Aug 15, 2013

A number of reserve bidders for the 10 distribution companies (Discos) carved out from the Power Holding Company of Nigeria (PHCN) have indicated their readiness to step in with their reserve bids, if the preferred bidders for the distribution assets fail to pay up their remaining 75 per cent bid prices within the stipulated timeframe.…

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Power tussles compound crisis rocking N3.85bn Manitoba management contract

Aug 14, 2013

Power tussles among officials has compounded the crisis rocking the N3.85 billion management contract given to Canadian company Manitoba to run the electricity Transmission Company of Nigeria, Daily Trust has learnt. The Federal Government handed over TCN to Manitoba Hydro International in a $24 million contract that is expected to run for three years, aimed…

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Banks unwilling to lend funds to power bidders over PHCN workers entitlements

Aug 14, 2013

Nigerian banks are unwilling to lend funds to the preferred bidders of the 11 privatized Electricity Distribution Companies due to uncertainty associated with the settlement of entitlements of former Power Holding Company of Nigeria, PHCN, workers. The owners of the DISCOs, who made their plight known to the minister of power in Abuja on Tuesday,…

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Power firm bidders may not meet payment deadline; give condition for payment

Aug 14, 2013

The hope of an early completion of the privatisation of the power sector is being threatened by the inability of the Federal Government to settle all outstanding labour issues at the Power Holding Company of Nigeria, PHCN, and the subsidiary companies unbundled from the utility firm. The preferred bidders of the 10 electricity distribution companies…

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FG has no concrete agenda for PHCN privatisation – Joe Ajaero

Aug 13, 2013

General Secretary of National Union of Electricity Employees (NUEE), Joe Ajaero, in an encounter with Linda Eroke, says a nationwide industrial action has become imminent in view of the unresolved labour issues in the power sector. He also opined that government did not factor in the cost implications of the privatisation of the Power Holding…

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FG alleges politically motivated sabotage to power reform efforts

Aug 13, 2013

The federal government Monday rose from a meeting of the Joint Committee of the National Council of Privatisation (NCP) and the Board of the Niger Delta Power Holding Company (NDPHC), alleging that its efforts to provide constant power supply in the country were being eroded by politically-motivated sabotage through gas pipelines and transformers vandalism. Benue…

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Electricity supply to major cities worsens, Nigerians groan

Aug 13, 2013

Nigerians on Monday condemned the poor supply of electricity across the country for about five days now. While some described the development as a setback to the ongoing reforms in the sector, others wondered if the Federal Government was actually sincere and ready to address the rot in the system. This is coming as officials…

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386 prospective bidders shortlisted for 10 power plants

Aug 13, 2013

The Federal Government on Monday said 386 firms had been  shortlisted for the purchase of 10 National Integrated Power Project  plants slated for privatisation. Governor Gabriel Suswam of Benue State made this known to State House correspondents at the end of a joint meeting of the Niger Delta Power Holding Company and the National Council…

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