Monday, February 18, 2019

Tag "NERC"

    FG to halt bailout for power firms, asks GenCos to find more customers

FG to halt bailout for power firms, asks GenCos to find more customers

The federal government has asked power generation companies (GenCos) to find eligible customers for its product as the payment for shortfalls might end soon.Speaking at a workshop on eligible customer regulation in Abuja on Tuesday, Louis Edozien, permanent secretary of the ministry of power, works and housing, said it is no longer sustainable for GenCos to complain of stranded power [...]

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    ANALYSIS: Why electricity generation may plunge further in 2019

ANALYSIS: Why electricity generation may plunge further in 2019

With the latest data from the advisory power team in the office of Vice-President Yemi Osinbajo revealing that the power sector lost a total of N530 billion in 2018, the industry is set to experience tougher times in 2019.Operational constraints from the shortage of gas, poor transmission, weak distribution network, and water reserves factor have become permanent issues to reckon [...]

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    GenCos: Abysmal performance of DisCos responsible for challenges in power sector

GenCos: Abysmal performance of DisCos responsible for challenges in power sector

The Association of Power Generation Companies (APGC) says the abysmal performance of electricity distribution companies (DisCos) is responsible for the challenges in the power sector.In a statement on Tuesday, Joy Ogaji, executive secretary of APGC, said the generation companies are being short-changed as they don't receive full payment for the amount of power generated.Ogaji said this in response to a [...]

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    NERC: Four million electricity customers still without prepaid meters

NERC: Four million electricity customers still without prepaid meters

The Nigerian Electricity Regulatory Commission (NERC) says more than four million electricity customers in Nigeria are still without prepaid meters.In its 2018 second quarter report, the commission disclosed that out of 7,973,867 registered active electricity customers in the country, only 3,547,129 have been metered as of June 2018.The report said the 4,426,738 electricity users who have not been issued meters [...]

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    PDP ‘mocking our fallen heroes’ over Boko Haram attacks

PDP ‘mocking our fallen heroes’ over Boko Haram attacks

A civil society group, the Coalition Against Terrorism and Extremism in Nigeria (CATE), has accused the Peoples Democratic Party (PDP) and its presidential candidate Atiku Abubakar of playing politics with fallen national heroes.The group said this following the comments which trailed the killings of over 100 soldiers by insurgents in the north-east.Gabriel Onoja, national coordinator of the group, said PDP [...]

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    Group hails Buhari’s ‘Next Level’ policy document

Group hails Buhari’s ‘Next Level’ policy document

Good Governance and Transparency Initiative (GGAT), a socio-political group, has given President Muhammadu Buhari a pat on the back for his development plan for Nigeria.The group said Buhari/APC’s ‘Next Level’ policy document unveiled on Sunday is an indication that Nigeria is surely heading for the desired level under the current government.Emerald Nzeribe, coordinator of the group, made this known during [...]

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    FG: Why we resisted temptation to cancel power sector privatisation

FG: Why we resisted temptation to cancel power sector privatisation

Lai Mohammed, minister of information, says the federal government resisted the temptation to cancel the power sector privatisation in order not to send wrong signals to prospective investors.The minister said this on Thursday in Abuja while answering questions on a programme aired on Radio Nigeria.The nation's power sector was privatised in November 2013 as private investors took over now-defunct Power [...]

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    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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    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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    FG to review performance of DisCos in 2019

FG to review performance of DisCos in 2019

The Bureau of Public Enterprises (BPE) says it will embark on a final performance review of the electricity distribution companies (DisCos) by 2019.In a statement, Alex Okoh, director-general of BPE, said apart from the Kaduna DisCo, 11 DisCos will undergo the review in order to evaluate the achievement of the agreement signed with the federal government in August 2013.He added [...]

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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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    NERC warns ANED to steer clear of electricity matters

NERC warns ANED to steer clear of electricity matters

The Nigerian Electricity Regulatory Commission (NERC) has warned the Association Of Nigerian Electricity Distributors (ANED) to steer clear of policy directives in the power sector.The commission made the directive during a meeting with representatives of electricity distribution companies (DisCos) in Abuja.ANED is the umbrella body of the DisCos.At the meeting, ANED representatives were warned against commenting on any pronouncement made by [...]

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    NERC: DisCos’ poor remittances deepen liquidity challenge in power sector

NERC: DisCos’ poor remittances deepen liquidity challenge in power sector

The Nigerian Electricity Regulatory Commission (NERC) says poor remittances by electricity distribution companies (DisCos) to the Nigerian Bulk Electricity Trader (NBET) has deepened liquidity challenge in the sector.In the 2017 third quarter report of the power sector, NERC said during the three months under review, DisCos paid N44bn from N147bn invoice issued by NBET, leaving a shortfall of N103bn.The report [...]

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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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    Dogara kicks against high electricity tariff — despite N123bn bailout

Dogara kicks against high electricity tariff — despite N123bn bailout

Yakubu Dogara, speaker of the house of representatives, has described the continuous increment of electricity tariff as an act of injustice to Nigerians.He said this at the national assembly during a public hearing organised by the house ad-hoc committee to interface with the Nigerian Electricity Regulatory Commission (NERC) and other stakeholders.According to the speaker, the hearing was set up to [...]

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Exchange Rates

February 15, 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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