Thursday, November 15, 2018

Tag "Electricity"

    Fashola: 2000 megawatts of electricity currently idle

Fashola: 2000 megawatts of electricity currently idle

Babatunde Fashola, minister of power, says the country currently has 2000 megawatts of electricity that is idle because it cannot be distributed.Fashola said the power is not being utilised because manufacturers have not shown interest in making use of it.The minister made this known at the January 2018 edition of the monthly power sector operators’ meeting in Lafia, Nasarawa."I will [...]

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    NNPC to build three power plants with 4600MW

NNPC to build three power plants with 4600MW

The Nigerian National Petroleum Corporation (NNPC) says it will build three power plants with 4600MW, in the northern part of the country.The power plants, to be located in Abuja, Kaduna and Kano, would rely on gas supplies from the planned Ajaokuta-Abuja-Kaduna-Kano (AKK) gas pipeline project.Maikanti Baru, group managing director of the NNPC, disclosed this when Abubakar Bello, governor of Niger [...]

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    Investors call for restructuring of power sector

Investors call for restructuring of power sector

Some participants at the Nigerian Economic Summit holding in Abuja have called for the restructuring of power.Tony Elumelu, chairman of Heirs Holding, said the power sector needs to be recapitalised, citing access to electricity as a game-changer in the development of the nation’s economy.Elumelu advised the government to increase their investment in the sector, scaling up ownership from 51% to [...]

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    N11trn ‘wastage’: SERAP asks ICC to probe Obasanjo, Jonathan

N11trn ‘wastage’: SERAP asks ICC to probe Obasanjo, Jonathan

The Socio-Economic Rights and Accountability Project (SERAP) has asked the International Criminal Court (ICC) to probe the administrations of former presidents Olusegun Obasanjo, Umaru Musa Yar‘Adua and Goodluck Jonathan for allegedly wasting electricity funds.SERAP had accused the trio of squandering a total sum of N11 trillion meant for provision of electricity to Nigerians during their respective regimes - between 1999 [...]

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    Fashola: Metering customers NOT a monopoly of DisCos

Fashola: Metering customers NOT a monopoly of DisCos

Babatunde Fashola, minister of power, says supply of meters to electricity consumers in the country is not exclusive to distribution companies (DisCos).He said as it is an “open but regulated” business.Fashola said this on Monday at the 18th monthly power sector and stakeholders’ meeting in Kumboso, Kano state.He was, however, quick to add that for anybody to be involved in [...]

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    SERAP: N11trn electricity fund was ‘squandered’ under Obasanjo, Yar’Adua, Jonathan

SERAP: N11trn electricity fund was ‘squandered’ under Obasanjo, Yar’Adua, Jonathan

The Socio-Economic Rights and Accountability Project (SERAP) says N11 trillion electricity fund was squandered by the administrations of former presidents Olusegun Obasanjo, Umaru Musa Yar'Adua and Goodluck Jonathan.The former presidents were in charge of the country between 1999 and 2015.In a report titled ‘From darkness to darkness: How Nigerians are paying the price for corruption in the electricity sector’ which was launched [...]

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    EXTRA: Abuja DisCo punishes community with darkness for rejecting estimated billing

EXTRA: Abuja DisCo punishes community with darkness for rejecting estimated billing

Angwan Sarki, a community in the belly of Orozo - an outskirt of Abuja - is in the pouch of darkness.The community which lacks every shade of a “living ease” mocks the vulgarity and opulence of the federal capital territory (FCT). A visible irritation - the road within the forlorn place - is snaky, jagged and “troublesome”.Despite being within the [...]

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    GenCos ask FG to increase electricity tariff

GenCos ask FG to increase electricity tariff

Power generation companies (GenCos) in the country are calling for an increase in electricity tariff due to “high business costs”.Ismaila Funtua, vice chairman, Mainstream Energy Solution, made this known on Tuesday while speaking with journalists on the sidelines of the quarterly presidential business meeting held in Abuja.He said the GenCos were asking the government to stop subsidising electricity and “let those who [...]

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    Solve electricity; solve Nigeria’s economy

Solve electricity; solve Nigeria’s economy

BY BELIJE MADUThe creation story of old sets the scene in which the heavens and the earth were covered in darkness. Then there was light. Light was separated from darkness, because light was good. As the story goes, from the start, light was fundamental to the survival, growth and prosperity of man.A significant thread that would most certainly unravel, [...]

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    You were not forced to buy power assets, Fashola tells DisCos

You were not forced to buy power assets, Fashola tells DisCos

Babatunde Fashola, minister of power, works and housing, on Monday, told electricity distribution companies that nobody forced them to acquire power assets.The minister chided DisCos over their inability to meet the electricity needs of consumers.Speaking in Plateau state during a monthly meeting of stakeholders in the power sector, Fashola told DisCos to stop complaining while reacting to their reasons for [...]

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    We need N100bn from FG to improve power supply, say DisCos

We need N100bn from FG to improve power supply, say DisCos

The Association of Electricity Distribution Companies (ANED) has appealed to the federal government to provide the N100 billion subsidy it promised after private investors took over the power sector utilities on November 1, 2013.In a statement by Sunny Oduntan, its executive director, ANED urged the government to inject funds into the transmission section of the sector.He said that the inadequate [...]

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    ‘If Egbin fails, it’s going to be dark’ — Power plant threatens shutdown over N110bn debt

‘If Egbin fails, it’s going to be dark’ — Power plant threatens shutdown over N110bn debt

Egbin power plant may be forced to shut down as a result of the non-settlement of N110 billion debt and insufficient gas supply.Dallas Peavey, managing director, Egbin Power Plc, on Wednesday warned that a nationwide blackout was imminent.Speaking during an interactive session with energy correspondents in Lagos, Peavey said the government had refused to pay for power generation despite guarantees [...]

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    Delta residents lament ‘seven years of darkness’

Delta residents lament ‘seven years of darkness’

Residents of Ogwashi-Uku, a community in Aniocha south local government area of Delta state, have cried out to the federal government to restore electricity supply to them after "seven years of darkness".Sam Obidi, a member of “The Forum’’, made the plea in an interview with the News Agency of Nigeria(NAN) on Monday in Asaba.The Forum is a body working with [...]

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    Zamfara govt house ‘thrown into darkness’ over N400m bill

Zamfara govt house ‘thrown into darkness’ over N400m bill

The Zamfara state government house in Gusau has remained in darkness following the disconnection of electricity supply to the premises by the Kaduna Power Holding Company.Aminu Yakubu, business development and relationship officer of the company in Gusau area office, told journalists on Wednesday that the action followed the failure of the state government to settle its bills.Yakubu said the state [...]

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    Ghana: We are suffering power outage – because of Nigeria

Ghana: We are suffering power outage – because of Nigeria

John Mahama, the president of Ghana, says the intermittent power cuts Ghana is experiencing is because of the delays in taking delivery of crude oil from Nigeria to power thermal plants.Mahama said this on Wednesday during eid-el-fitr speech at a ceremony.Ghana has been experiencing a massive short fall in electricity production in recent times causing individuals and companies to complain.With the [...]

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    Nigeria in darkness as pipeline attacks shut out 1,500mw

Nigeria in darkness as pipeline attacks shut out 1,500mw

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Exchange Rates

November 13, 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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