Power

NERC, CBN consider ways to monitor electricity market funds

Oct 21, 2019

In a bid to curb the poor remittances of power market funds by distribution companies, the Nigerian Electricity Regulatory Commission (NERC) is to set up mechanisms to rectify the Discos’ unruly financial behaviours by monitoring the monthly financial inflows into the country’s power market from the power distribution firms, THISDAY learnt at the weekend. According…

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Gas constraint stalls generation of 29,219MW of electricity

Oct 21, 2019

A total of 29,219 megawatts of electricity could not be generated on the national grid between October 1 and October 17, 2019 as a result unavailability of gas to power plants. Findings showed that gas supply challenge was one of the major factors inhibiting the generation of electricity in Nigeria, particularly from thermal power generation…

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NBET, Gencos dispute rages over shutdown threat

Oct 21, 2019

Generation Companies in Nigeria (GenCos) on September 21, 2019, raised the alarm over the crippling weight of a new 0.75 per cent administrative charge slammed on them by the Nigerian Bulk Electricity Trading (NBET) – a Federal Government agency. To this effect, they threatened to declare a force majeure if NBET goes ahead to implement the charge.…

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FG secures $3bn World Bank loan for power sector

Oct 21, 2019

Minister of Finance, Mrs Zainab Ahmed says the Federal Government has secured a $3bn loan from the World Bank. According to the Finance Minister, the loan is to be used for reforming the nation’s power sector. Mrs Ahmed who announced the approval of the loan at a news conference to wrap up the World Bank/IMF…

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Nigeria, Kenya lead Africa’s grid modernization efforts

Oct 21, 2019

Nigeria and Kenya are leading in grid modernisation revolution in Africa. The continent is forecast to be the world’s fastest-growing market for micro-grids at a Compound Annual Growth Rate (CAGR) of 27 per cent, representing 1,145megawatts (Mw) of electricity by 2027. An International Energy Consultant Anastasia Walsh said Africa needed to modernise and decentralise its…

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Nigeria’s power sector losses could hit N500bn

Oct 21, 2019

The electricity industry may ramp up its losses to N500billion by the end of the month, if the Federal Government fails  to address hitches in the generation, distribution and transmission chains of power in the country, the Technical Director, Consistent Energy Limited, Ettu Muhammed, has said. This follows the report of the Advisory Power Team…

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Nigeria, China to collaborate on producing Nigerian-made transformers in 2020

Oct 20, 2019

Nigeria is to work closely with China for the production of Nigerian-made transformers by 2020, a top-ranking Nigerian official said on Thursday. Engr. Mohammed Haruna, the Executive Vice Chairman, National Agency for Science and Engineering Infrastructure (NASENI), who made this known in an interview with the News Agency of Nigeria (NAN) in Abuja, said that…

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FG earmarks $1.61bn for 24-hour power supply – TCN

Oct 20, 2019

he Managing Director, Transmission Company of Nigeria, Alhaji Usman Gur, has said the government in collaboration with international donor agencies has set aside over $1.61bn to ensure constant power supply in the country. Gur, who is also the Chief Executive Officer of the TCN, revealed this on Sunday in Kano State while briefing journalists at…

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Excavation machine damages TCN’s underground transmission lines in Abuja

Oct 18, 2019

The Transmission Company of Nigeria has said that one of its 132kV underground transmission lines was damaged by an excavation machine working for IBB Golf Club, Abuja. It said the incident made TCN to transmit bulk electricity meant for the Central Area, Maitama, Utako, Jabi and several parts of the Federal Capital Territory without redundancy…

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Inadequate gas supply, others are major challenges facing Nigeria’s power sector – PwC

Oct 18, 2019

PwC Nigeria has disclosed that inadequate gas supply, limited transmission lines, among others are biggest problem facing Nigeria’s electricity sector. The international auditing company explained that operational inefficiencies, poor water management at hydropower plants and inadequate and obsolete distribution infrastructure are other issues facing the sector. PwC Nigeria in a recent published white paper titled,…

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