Thursday, September 20, 2018

Tag "NERC"

    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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    Reps panel asks NERC to reverse suspension of Ibadan DisCo directors

Reps panel asks NERC to reverse suspension of Ibadan DisCo directors

A house of representatives panel has asked the Nigerian Electricity Regulatory Commission (NERC) to rescind its decision to suspend the board members of the Ibadan Electricity Distribution Company Limited (IBEDC).The house committee on power gave the order during its investigative hearing on Wednesday.The NERC had in June suspended the board of directors and key management staff over over a N6bn [...]

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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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    Ambode speaks on steps Lagos is taking to have 24-hour power supply

Ambode speaks on steps Lagos is taking to have 24-hour power supply

Akinwumi Ambode, Lagos state governor, says in the next three or six years, the state will generate 3,000 megawatts of electricity through its embedded power programme.The programme involves direct intervention in the power value chain for the purpose of achieving 24-hour power supply for Lagos.Speaking at a meeting with officials of the Nigeria Electricity Regulatory Commission (NERC) in Abuja on [...]

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    Sam Amadi: I — not Jonathan — reversed electricity tariff

Sam Amadi: I — not Jonathan — reversed electricity tariff

Sam Amadi, former chairman of the Nigerian Electricity Regulatory Commission (NERC), says ex-President Goodluck Jonathan did not order the reversal of electricity tariff in 2014. In the build-up to the 2015 general election, the commission announced an increase in electricity tariff, but it later suspended the action.Speaking at a public lecture in Lagos on Thursday, Babatunde Fashola, minister of power, works [...]

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    Report ‘crazy’ bills to our offices, Ikeja Electric tells consumers

Report ‘crazy’ bills to our offices, Ikeja Electric tells consumers

The management of Ikeja Electric (IE) has appealed to consumers with complaints about its recent billings to lodge such report at the nearest business unit (BU) in their areas.Felix Ofulue, head, corporate communication unit of IE, said this during an interview with NAN.Ofulue said that series of complaints had reached the head office of IE as regard outrageous billing of consumers [...]

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    Estimated billing will soon end, DisCos assure customers

Estimated billing will soon end, DisCos assure customers

Electricity distribution companies (DisCos) say they are working to fulfil their metering obligations to consumers with minimal power consumption in a bid to phase out estimated billing.The DisCos made this assurance in a statement signed by Azu Obiaya, chief executive officer of the Association of Nigerian Electricity Distributors (ANED).They said that their metering targets, which was captured in the performance [...]

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    MIT prof has accepted NERC job, says presidency

MIT prof has accepted NERC job, says presidency

Akintunde Akinwande, a professor, has accepted his nomination as chairman of the Nigeria Electricity Regulatory Commission (NERC), the presidency said on Thursday.His absence at the senate for screening, and his non-appearance at the Department of State Services (DSS), had led to reports that he had rejected the appointment.But in a statement issued by Ita Enang, senior special assistant to the [...]

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    Bugaje to Buhari: I rejected your appointment because my hands are full

Bugaje to Buhari: I rejected your appointment because my hands are full

Usman Bugaje, an ambassadorial nominee from Katsina state, has given a reason why he turned down President Muhammadu Buhari's offer.He has declined to speak to the media on his decision.But on his Facebook page on Wednesday, the holder of PhD in history thanked Buhari for the appointment, but he said he could not accept it because his hands were full."Regarding the [...]

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    MIT professor ‘rejects’ appointment as NERC chairman

MIT professor ‘rejects’ appointment as NERC chairman

Akintunde Akinwande, the nominee of President Muhammadu Buhari for chairman of the Nigeria Electricity Regulatory Commission (NERC), on Thursday failed to appear before the senate committee on power for screening.It was also learnt the Akinwande also failed to appear before the Department of State Services (DSS) for security screening, a strong indication that he has rejected the appointment,  according to THISDAY.This development [...]

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    Power generation improves to 4,285 megawatts

Power generation improves to 4,285 megawatts

The Transmission Company of Nigeria (TCN) on Friday said the country’s power generation has increased from 3,810 megawatts recorded on September 8, 2016 to 4,285.90 megawatts.The company posted the new record on its website.The TCN said 4,285.90 megawatts was the total output by power generation companies, and had been transferred to the 11 distribution companies across the country.Electricity generation in [...]

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    El-Rufai: Previous administrations failed woefully in their power sector reforms

El-Rufai: Previous administrations failed woefully in their power sector reforms

Nasir el-Rufai, governor of Kaduna state, has called for the restructuring of the National Electricity Regulatory commission (NERC), saying the power sector has failed “woefully”, despite reforms by successive governments.Speaking at the second edition of the national council on power meeting held in Kaduna, el-Rufai said the sector is in a shambles as a result of incompetent people at the [...]

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Exchange Rates

September 20, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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