Tuesday, November 20, 2018

Tag "Electricity"

    Lai claims 7,000MW, Adesina says 4,500MW… what’s the truth about Nigeria’s power generation?

Lai claims 7,000MW, Adesina says 4,500MW… what’s the truth about Nigeria’s power generation?

Within 24 hours, two prominent figures have churned out conflicting figures on Nigeria's current power generation capacity. On Tuesday, Lai Mohammed, minister of information, said the country now generates 7,000 megawatts of electricity. A day after, Akinwumi Adesina, president of the African Development Bank (AfDB), pegged the figure at "around 4,500 megawatts".While speaking at a News Agency of Nigeria (NAN) [...]

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    FG to increase power generation to 9000MW by December

FG to increase power generation to 9000MW by December

The federal government says it will increase power generation to 9,000 megawatts by the end of 2018.Lai Mohammed, minister of information, made this known on Tuesday while speaking at a NAN Forum in Abuja.The minister said the government will add 2,000 megawatts to the current 7,000 capacity.Mohammed said the government will also embark on 90 power transmission projects nationwide to [...]

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    Ogaji: DisCos owing power generation firms N500bn

Ogaji: DisCos owing power generation firms N500bn

Joy Ogaji, executive secretary of Association of Power Generation Companies (APGC), says the Nigerian Bulk Electricity Trading (NBET) is yet to pay the N500bn debt owed by electricity distribution companies (DisCos).Speaking with reporters in Abuja on Sunday, Ogaji said power firms have been taking loans from banks to be able to generate electricity.She said the federal government has only paid 80 [...]

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    FG to add 4200MW to national grid in 18 months

FG to add 4200MW to national grid in 18 months

The federal government is set to add 4200 megawatts of electricity to the national grid in 12 to 18 months.Bisi Daniels, strategy and communications adviser to Okechukwu Enelamah, minister of industry, trade and investment, said it will be coordinated by the Nigeria Industrial Policy and Competitiveness Advisory Council (NIPCAC).Daniels said the government has commenced moves to deploy underutilised power assets [...]

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    Fashola: The problems of electricity can’t be solved by magic

Fashola: The problems of electricity can’t be solved by magic

Babatunde Fashola, minister of power, works and housing, says the problems of electricity are slowly being solved as no one can do it by magic.Fashola said this on Thursday while inaugurating the 2x100MVA, 132/33kV power transformers at the Ejigbo Transmission Substation in Lagos.The minister said out of the 800 containers of power equipment abandoned at the port for about 10 [...]

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    Inside Abuja PHCs where babies are born with the aid of kerosene lamp, torchlight

Inside Abuja PHCs where babies are born with the aid of kerosene lamp, torchlight

"We are usually three during the child delivery, I and two other midwives. One person will be holding the torch for us while one will be conducting the delivery with the third person assisting,” said Odeh Agnes, the midwife at Dafa primary healthcare centre (PHC) in Kwali council, federal capital territory (FCT).The thought of childbirth with the aid of torchlight [...]

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    We have constitutional right to protect interest of DisCos, ANED replies NERC

We have constitutional right to protect interest of DisCos, ANED replies NERC

The Association of Nigerian Electricity Distributors (ANED) says the constitution empowers it to protect the interest of electricity distribution companies (DisCos).In a statement on Wednesday, Azu Obiaya, chief executive officer of ANED, said the association will not fold its arms when its members are endangered.He said contrary to the directive of the Nigerian Electricity Regulatory Commission (NERC), ANED’s opposition to a policy [...]

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    How poor power supply is hindering growth of Nigerian SMEs

How poor power supply is hindering growth of Nigerian SMEs

BY JONATHAN EMMANUELAccess to power expands the number and variety of business and job opportunities available. Electricity means that small businesses, such as barbers hairdressing salons, laundromats, welders etc, rely on energy to function. Energy also leads to the creation of new markets, businesses and job openings, which provide more opportunities for individuals to earn an income and lift them, [...]

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    NERC: Electricity consumers’ complaints declined in Q3 2017

NERC: Electricity consumers’ complaints declined in Q3 2017

The Nigerian Electricity Regulatory Commission says electricity distribution companies (DisCos) received 109,048 complaints from consumers in the third quarter of 2017.This was disclosed on Tuesday in the quarterly report of the commission.The report showed a decline in the number of complaints, a slight improvement from the 116,761 complaints received in the second quarter of 2017.According to the report, an average [...]

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    Power sector ‘lost N324.3bn’ in eight months

Power sector ‘lost N324.3bn’ in eight months

New data from the advisory power team in the office of Vice-President Yemi Osinbajo has shown that the power sector has lost N324.3bn this year, due to gas constraints and poor distribution network.According to the latest power generation report, 3,700MW could not be generated on August 20 due to unavailability of gas, poor transmission and distribution network, and high frequency.As a [...]

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    Nationwide blackout looms as GenCos threaten to shut down power plants

Nationwide blackout looms as GenCos threaten to shut down power plants

Joy Ogaji, executive secretary of the Association of Power Generation Companies (APGC), says the power firms might shut down plants over the inability of the Transmission Company of Nigeria (TCN) to transmit available volume of electricity generated into the national grid.In a statement on Thursday, Ogaji said the generation companies (GenCos) were increasingly facing lower capacity utilisation with the fact that they [...]

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    Fashola should be ‘denied access to generator’

Fashola should be ‘denied access to generator’

Ahmed Isah, prominent rights activist, better known as "Ordinary President", says Babatunde Fashola, minister of power, works and housing, should not be given access to a generator.Speaking in Abuja at a townhall meeting on the power sector, organised by the Shehu Musa Yar'Adua Foundation, on Monday, Isah said Nigerians are battling epileptic power supply because influential personalities have other means [...]

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    $16bn power project: Refer Obasanjo to EFCC, SERAP tells Buhari

$16bn power project: Refer Obasanjo to EFCC, SERAP tells Buhari

The Socio-Economic Rights and Accountability Project, (SERAP) has urged President Muhammadu Buhari to initiate probe against ex-President Olusegun Obasanjo for allegedly mismanaging $16 billion meant for power projects in the country.It asked the president to refer the allegation to the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to be investigated [...]

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    Soon, it’ll be the right of every Nigerian to own prepaid meter

Soon, it’ll be the right of every Nigerian to own prepaid meter

A bill seeking to prohibit the issuance of estimated electricity bill to electricity consumers in the country has passed second reading at the house of representatives.The Electric power sector reform act (amendment bill), sponsored by Femi Gbajabiamila, leader of the house, proposes a legislation to criminalise such billings method.By creating new sections 68 to 72 in the act to prohibit [...]

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    Power generation ‘to hit 100,000mw by 2030’

Power generation ‘to hit 100,000mw by 2030’

The Energy Commission of Nigeria (ECN) has predicted that Nigeria will be able to generate 100,000 megawatts of power by 2030.Eli Bala, ECN director-general, made this known on Monday in an interview with NAN.He said the projection would be possible with an annual economic growth rate of seven percent and steady implementation of the national energy plan by the federal [...]

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    FEC approves new framework to expand electricity transmission

FEC approves new framework to expand electricity transmission

The federal executive council (FEC) has approved a new framework to expand the 33KVA and 11KVA electricity transmission lines in the country.The framework will ensure distribution of 2,000 megawatts of generated energy currently not being distributed from power stations.FEC gave the approval on Wednesday during the council’s weekly meeting.Addressing state house correspondents after the meeting, Babatunde Fashola, minister of power, [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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