Power

Oando to build N16bn IPPs for Lagos, Abuja airports

Jul 9, 2013

An indigenous oil company, Oando Plc, has concluded  discussion with the federal government to provide long-term, uninterrupted power supply to the Murtala Muhammed International Airport (MMIA), Lagos and Nnamdi Azikiwe International Airport (NAIA), Abuja through the establishment of an Independent Power Supply project (IPP) at the cost of $100 million (N16 billion). THISDAY gathered that…

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Electricity consumers, NERC disagree on fixed charge increase

Jul 9, 2013

Electricity consumers on Monday complained about the increase in the fixed charges. While some described the development as unnecessary, others called for stable power supply before any increase in charges could be implemented. However, the Nigerian Electricity Regulatory Commission refuted the increase in charges, stressing that electricity tariff for each passing year had been scheduled…

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FG to generate 4,000MW electricity from coal

Jul 8, 2013

To address the country’s epileptic power supply situation, the Federal Government has announced plans to generate additional 4,000 megawatts of electricity from coal. This, according to the government, will augment the country’s power generation, which currently is a little above 4,000MW. The Minister of Power, Prof. Chinedu Nebo, disclosed this in Abuja while inaugurating an…

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Power generation will peak at 10,000 Mw by 2014 – Ibrahim Kuchi

Jul 4, 2013

The Minister of State for Power, Hajiya Zainaib Ibrahim Kuchi, has told the National Working Committee (NWC) of the Peoples Democratic Party (PDP) that power  generation in the country would peak at 10,000 megawatts by the end of December 2014. Kuchi said this would translate to between 17 and 18 hours a day of power…

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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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