Wednesday, July 17, 2019

Tag "Electricity"

    OAU to enjoy 24-hour electricity as varsity begins power generation by October

OAU to enjoy 24-hour electricity as varsity begins power generation by October

Eyitope Ogunbodede, the vice-chancellor of Obafemi Awolowo University (OAU), Ile-Ife, Osun state, says the institution will exit the national grid by October to generate its own electricity.Speaking on Monday at a biennial conference of the African Institute for Science Policy and Innovation (AISPI), Ogunbodede said the Rural Electrification Agency (REA) has provided the university with a gas-powered turbine that will [...]

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    NLC to NERC: Nigerians can’t afford increase in electricity tariff

NLC to NERC: Nigerians can’t afford increase in electricity tariff

The Nigeria Labour Congress (NLC) says consumers cannot afford to pay high electricity bills if there is a further increase in energy tariff.Ayuba Wabba, NLC president, made this statement on Monday while speaking at the public consultation on capping of estimated billing by the Nigerian Electricity Regulatory Commission (NERC) in Abuja.Describing the proposed increase in tariff as exploitative billing, he [...]

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    Nigeria ‘may not reap’ all the benefits of AfCFTA because of poor electricity supply

Nigeria ‘may not reap’ all the benefits of AfCFTA because of poor electricity supply

The Association of Power Generation Companies (APGC) says Nigeria may not reap the benefits of the African Continental Free Trade Area (AfCFTA) as a result of poor electricity supply.In a statement, Joy Ogaji, executive secretary of APGC, umbrella body of generation companies (GenCos), said adequate power supply is critical in the nation's quest for economic growth and industrialisation.On Sunday, President [...]

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    Court to FG: Publish names of non-performing power contractors since 1999

Court to FG: Publish names of non-performing power contractors since 1999

A federal high court in Lagos has asked the federal government to publish the details of contractors who failed to execute power projects after receiving payment.Kolawole Oluwadare, deputy director of Socio-Economic Rights and Accountability Project (SERAP), said Chuka Obiozor, a judge at the court, made the order on FridayHe said the judge ordered the full details of the contractors who [...]

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    BPE: Sam Amadi making wild allegations on power privatisation

BPE: Sam Amadi making wild allegations on power privatisation

The Bureau for Public Enterprise (BPE) has accused Sam Amadi, former chairman of the Nigerian Electricity Regulatory Commission (NERC), of making wild allegations concerning power sector privatisation coordinated by the agency.In June, Amadi said the privatisation was designed to fail as the power assets were sold to investors who lacked financial and technical capacity.In a statement on Friday, BPE said [...]

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    FG to increase representation in power firms’ boards

FG to increase representation in power firms’ boards

The federal government says it will add two members to its representatives on the boards of the 11 electricity distribution companies (DisCos).In a statement in Abuja on Monday, Amina Othman, head of public communication of the Bureau for Public Enterprise (BPE), said the decision resulted from a meeting held with the shareholders of the DisCos.The federal government holds a 40% [...]

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    Blackout looms as FG moves to cut off three DisCos from national grid

Blackout looms as FG moves to cut off three DisCos from national grid

The federal government has ordered the disconnection of three electricity distribution companies from the national grid over "non-compliance with the conditions of market rules".DisCos are allegedly owing the Transmission Company of Nigeria (TCN) N231 billion energy service debt.In notices issued by the market operator, an arm of the TCN, a directive was given for the suspension of - Eko, Enugu [...]

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    We’ll address this situation, says Abuja DisCo on village where darkness is killing people

We’ll address this situation, says Abuja DisCo on village where darkness is killing people

The Abuja Electricity Distribution Company (AEDC) says it will address the condition of the residents of Gosa Kpanyi Kpanyi village in the federal capital territory (FCT).The company disclosed this a day after TheCable published a story on the condition of the village under the Abuja Municipal Area Council (AMAC).The village is under the franchise area of the electricity distribution company, [...]

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    Electricity agency speaks on Abuja village where darkness is killing people

Electricity agency speaks on Abuja village where darkness is killing people

The Rural Electrification Agency (REA) says it has directed its project team to look into the plight of residents of Gosa Kpanyi Kpanyi village in the federal capital territory (FCT).The agency disclosed this hours after TheCable published a story on the condition of the village under the Abuja Municipal Area Council (AMAC).Lack of electricity has brought hardship on the people, [...]

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    DisCos demand cost recovery framework to invest in electricity

DisCos demand cost recovery framework to invest in electricity

The electricity distribution companies (DisCos) have demanded a cost recovery framework before making investments in power distribution.Speaking at a seminar for the preparation of performance improvement plans (PIP) by DisCos, Azu Obiaya, chief executive officer of the Association of Nigerian Electricity Distributors (ANED), said the framework is necessary to align the sector towards commercial viability and sustainability.The Nigerian Electricity [...]

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    Sam Amadi: Power sector privatisation was designed to fail

Sam Amadi: Power sector privatisation was designed to fail

Sam Amadi, former chairman of the Nigerian Electricity Regulatory Commission (NERC), says the privatisation of the power sector was designed to fail.In a series of tweets, Amadi said the privatisation process could not produce the desired results because the power assets were sold to investors who lacked the financial and technical capacity.The sector was privatised after the unbundling of the [...]

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    Consumers to pay more as FG, investors target $4.3bn for power sector

Consumers to pay more as FG, investors target $4.3bn for power sector

The federal government and core investors in electricity distribution companies (DisCos) are to raise $4.3 billion to recapitalise the firms and improve their services.Usman Mohammed, managing director of Transmission Company of Nigeria (TCN), disclosed this to reporters, saying the fund is meant to upgrade distribution network of DisCos.According to him, the federal government will provide $1.7 billion out of the [...]

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    Ikeja DisCo rolls out prepaid meters for Ikorodu residents

Ikeja DisCo rolls out prepaid meters for Ikorodu residents

The Ikeja Electricity Distribution Company (IKEDC) has announced the roll out of prepaid meters for customers in the Ikorodu business unit in Lagos.In a statement on Monday, Felix Ofulue, the company's head of corporate communications, said the deployment will commence on June 17 following the successful registration and subscription for meters customers across the area.According to the electricity distribution company [...]

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    Prepaid meters available for sale from June 15, EEDC tells south-east residents

Prepaid meters available for sale from June 15, EEDC tells south-east residents

The Enugu Electricity Distribution Company (EEDC) says it will commence the deployment of prepaid meters to its customers in the south-east from June 15.In a statement on Tuesday, Chukwuemeka Ezeh, EEDC's head of communications, urged the customers to take advantage of the meter asset providers (MAP) scheme and get metered within 10 days of paying for the meter.The electricity company [...]

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    NERC: We expect the metering gap of five million to be closed in three years

NERC: We expect the metering gap of five million to be closed in three years

James Momoh, chairman of the Nigerian Electricity Regulatory Commission (NERC), says he expects the country's present metering gap of five million to be closed in next three years.Speaking at the maiden graduation ceremony of the MOMAS Electricity Meters Manufacturing Company (MEMMCOL) metering school in Ogun state, the NERC chairman said the metering gap as of April was about 5,046,906 out [...]

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    Kaduna DisCo: We’ll begin meter deployment in four states by June

Kaduna DisCo: We’ll begin meter deployment in four states by June

Kaduna electricity distribution company (DisCo) says it will begin the deployment of prepaid meters to its customers by June.In a chat with TheCable on Thursday, Abdulazeez Abdullahi, head of corporate communications of the company, said the deployment will cover its franchise areas, Kaduna, Kebbi, Sokoto and Zamfara states.Abdullahi said the Nigerian Electricity Regulatory Commission (NERC) has approved four meter asset [...]

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Exchange Rates

July 12, 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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