Thursday, May 23, 2019

Tag "Electricity"

    FG inaugurates 10MW power plant for Abuja airport

FG inaugurates 10MW power plant for Abuja airport

The federal government, on Tuesday, inaugurated a 10 megawatts power plant for the Nnamdi Azikiwe International Airport, Abuja.Hadi Sirika, minister of state for aviation, said the independent power plant (IPP) is to complement electricity supply at the airport.The minister added that the project was executed due to the high electricity demand following the construction of the new international terminal.“It is [...]

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    Report: DisCos require $10bn investment to improve electricity supply in 5 years

Report: DisCos require $10bn investment to improve electricity supply in 5 years

The French Agency for Development (AFD) says the 11 electricity distribution companies (DisCos) in Nigeria will need an investment of $10 billion to improve power supply in the next five years.AFD said it commissioned AF Mercados, a consultancy firm, to carry out an in-depth study of the challenges of the Nigerian Electricity Supply Industry (NESI) with the support of the [...]

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    Zimbabwe’s president fires minister over power outage for 8 hrs per day

Zimbabwe’s president fires minister over power outage for 8 hrs per day

President Emmerson Mnangagwa of Zimbabwe has fired Joram Gumbo (pictured), his minister of energy and power development, over "poor electricity supply" across the country.According to BBC, Zimbabwe is experiencing the worst electricity blackouts since 2016.This is coming after the minister had licenced over 30 companies to provide solar power to the country and concluded plans to travel to Mozambique, a [...]

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    NERC imposes N300m fine on Abuja DisCo over death of 4-year-old boy in Niger

NERC imposes N300m fine on Abuja DisCo over death of 4-year-old boy in Niger

The Nigerian Electricity Regulatory Commission (NERC) has imposed a fine of  N300 million on the Abuja Electricity Distribution Company (AEDC) over "negligence" in the death of a 4-year-old boy in Niger state.This is contained in an order issued by the regulatory agency in Abuja on Tuesday.NERC said N50 million will be paid as compensation to the family of the [...]

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    NERC orders suspension of electricity supply to consumers in VI, Ikoyi

NERC orders suspension of electricity supply to consumers in VI, Ikoyi

The Nigerian Electricity Regulatory Commission (NERC) has ordered the suspension of electricity supply to consumers in Victoria Island and Ikoyi areas of Lagos state.In a directive issued on Tuesday, the regulatory agency said its investigation revealed that Peninsula Independent Power Plant (PIPP) had violated the terms and conditions of its licence by supplying electricity to the customers without approval of [...]

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    TCN: Why national electricity grid collapsed

TCN: Why national electricity grid collapsed

Mohammed Usman, managing director of the Transmission Company of Nigeria (TCN), says the national electricity grid collapsed on Wednesday due to a multiple tripping on its substation in Onitsha, Anambra state.Speaking at a press conference in Abuja on Friday, Usman said the collapse may also be as a result of one of the generators that went off.TheCable had reported how [...]

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    Fashola: NERC can revoke licences of non-performing DisCos

Fashola: NERC can revoke licences of non-performing DisCos

Babatunde Fashola, minister of power, works and housing, says the Nigerian Electricity Regulatory Commission (NERC) has the power to revoke licences of non-performing electricity distribution companies (DisCos).Speaking on Thursday at the 2019 Punuka annual lecture in Abuja, Fashola maintained that the regulatory body, not the minister, could either cancel or amend the licences of the DisCos upon consumers complaints.The minister [...]

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    Blackouts as national power grid collapses twice within 24 hours

Blackouts as national power grid collapses twice within 24 hours

The national power grid has collapsed twice within the last 24 hours causing blackouts in most states across the country.A daily report from the Transmission Company of Nigeria (TCN) confirmed a system collapse on Wednesday which reduced load allocations to the distribution companies.The collapse came after the grid recorded 4,212 megawatts on Wednesday morning.Bode Fadipe, spokesperson of the Abuja Electricity [...]

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    New meter roll-out scheme suffers delay

New meter roll-out scheme suffers delay

Logistics challenges which electricity distribution companies (DisCos) are battling with have affected the commencement of the new meter roll-out under the meter asset providers (MAPs) regulation.The Nigerian Electricity Regulatory Commission (NERC) had issued permits to approved meter service providers to roll out of new meters by May 1.On March 8, 2018, NERC introduced the MAP regulation to new investors in [...]

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    SERAP: Fashola has named corrupt contractors

SERAP: Fashola has named corrupt contractors

The Socio-Economic Rights and Accountability Project (SERAP) says Babatunde Fashola, minister of power, works and housing, has named contractors who failed to execute power projects after receiving payment.In a statement on Sunday, Kolawole Oluwadare, deputy director of SERAP, said the minister forwarded the list to the organisation.Oluwadare said SERAP has been invited to inspect a compendium of verified and paid/outstanding [...]

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    ANALYSIS: Why Nigeria will remain in darkness a little longer

ANALYSIS: Why Nigeria will remain in darkness a little longer

The unbundling of the Power Holding Company of Nigeria (PHCN) on November 1, 2013, was like a breath of fresh air for the Nigerian power sector that had undergone decades of protracted crisis. The privatisation of the sector was greeted with so much enthusiasm and loads of expectations. Finally, the years of blackouts would soon be over, many had thought. The [...]

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    Transcorp power wins bid for Afam GenCo

Transcorp power wins bid for Afam GenCo

Transcorp Power Limited has won the financial bid for the Afam Electricity Generation Company in Rivers state.Transcorp had submitted a bid of N105.3 billion to defeat Diamond Stripes Consortium and Unicorn Power Generation at the bidding held in Abuja on Tuesday.The Ughelli power plant, a gas-fired thermal plant in Ughelli, Delta state, is being operated by Transcorp power.Quest Electricity Nigeria [...]

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    Sam Amadi: DisCos trying to cheat… estimated billing might not end soon

Sam Amadi: DisCos trying to cheat… estimated billing might not end soon

Sam Amadi, former chairman of the Nigerian Electricity Regulatory Commission (NERC), says estimated billing might not end soon because of electricity distribution companies (DisCos) are trying to cheat.While answering questions on the meter asset providers (MAPs) regulation initiated by the commission at a programme on Arise Television, Amadi said the scheme is not a good policy compared to the previous [...]

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    It’s unrealistic to roll out new meters from May, manufacturer tells NERC

It’s unrealistic to roll out new meters from May, manufacturer tells NERC

Momas Electricity Meter Manufacturing Company Limited (MEMMCOL), one of the licensed meter asset providers (MAPs), says the directive to rollout new meters from May 1 is unrealistic.Speaking with reporters in Lagos on Sunday, Kola Balogun, chairman of the company, said some modalities need to be in place before that can work.On Friday, the Nigerian Electricity Regulatory Commission (NERC) had [...]

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    NERC orders rollout of new meters from May 1

NERC orders rollout of new meters from May 1

The Nigerian Electricity Regulatory Commission (NERC) has issued permits to meter asset providers (MAPs) to begin the roll out of new meters by May 1.In a statement on Saturday, the commission said MAPs engaged by Abuja and Jos electricity distribution companies (DisCos) will install the new meters in customers' premises within 10 working days of making payment.The three firms engaged [...]

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    Aso Rock to enjoy uninterrupted power supply as ‘eligible customer’

Aso Rock to enjoy uninterrupted power supply as ‘eligible customer’

The federal executive council (FEC) has approved the inclusion of the presidential villa in the eligible customer policy to ensure uninterrupted power supply to the villa.In a statement on Friday, Hakeem Bello, special adviser on communications to Babatunde Fashola, minister of power, said the approval is aimed at achieving improvement in the electricity supply and distribution in the country.According to [...]

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Exchange Rates

May 16, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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