Wednesday, September 19, 2018

Tag "Power sector"

    Nigerian Electricity Regulatory Commission – an agency mired in confusion and missing in action

Nigerian Electricity Regulatory Commission – an agency mired in confusion and missing in action

BY CHISOM IKECHUKWUIn many developing economies, political interference has undermined regulatory independence. Regulatory procedures are expected to be transparent, accountable and predictable. “Without adequate safeguards against the misuse of regulation, investment will be discouraged and prices higher than needed. ...Credible, stable regulation is required to achieve the benefits of privatising and liberalising infrastructure”, according to Iannis N. Kessides, in the [...]

0 comment Read Full Article
    The challenges of the electric power sector needs no crowing

The challenges of the electric power sector needs no crowing

BY AKPAN ASUQUOIn these times of playing games with facts, an opinion piece titled “As Discos throw in the towel” by Mr. Sunday Onyemachi Eze which appeared in various media outlets deserves scrutiny. Nigeria deserves robust debate on how to address the challenges of the power sector. But the said article crows about the difficulties of the electricity distribution companies [...]

0 comment Read Full Article
    Fashola should be ‘denied access to generator’

Fashola should be ‘denied access to generator’

Ahmed Isah, prominent rights activist, better known as "Ordinary President", says Babatunde Fashola, minister of power, works and housing, should not be given access to a generator.Speaking in Abuja at a townhall meeting on the power sector, organised by the Shehu Musa Yar'Adua Foundation, on Monday, Isah said Nigerians are battling epileptic power supply because influential personalities have other means [...]

0 comment Read Full Article
    Jonathan ‘made the biggest investment’ in power sector

Jonathan ‘made the biggest investment’ in power sector

Godknows Igali, former permanent secretary of the ministry of power, says ex-President Goodluck Jonathan made the “biggest investment” in power sector.He said this while speaking with Gatefield TV, an online platform.Igali said before leaving office, the former president completed most of the power projects that were abandoned.He said before the Peoples Democratic Party (PDP) government came into power, there was [...]

0 comment Read Full Article
    Transcorp records N8.2bn profit

Transcorp records N8.2bn profit

Transnational Corporation of Nigeria Plc (Transcorp) has recorded N8.2 billion group profit after tax, on the strength of an "improved and sustained production capacity" in their power operations.The company's financial results were released for the third quarter (Q3 2017) which ended September 30.According to a press statement, the company recorded a profit after tax of N8.2 billion for Q3 2017, [...]

0 comment Read Full Article
    FG to review power sector privatisation

FG to review power sector privatisation

President Muhammadu Buhari says his government will restructure the power sector to optimise the operations of electricity distribution companies (DisCos).The president, who was represented by Zainab Ahmed, minister of state for budget and national planning, said this at the end of the 23rd Nigerian Economic Summit in Abuja on Thursday.He said the review would effect changes in the ownership structures of [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    Enugu asked to ‘verify and pay’ N2bn debt as whistleblowing policy goes to power sector

Enugu asked to ‘verify and pay’ N2bn debt as whistleblowing policy goes to power sector

Babatunde Fashola, minister of power, works and housing, and stakeholders in the power sector, have asked the Enugu state government to verify and pay up N2 billion electricity debt.This was disclosed via a communique issued by the ministry, after the 16th monthly meeting of the minister and operators if the power sector, held on Monday at Ugwuaji 330/132 kV Transmission substation, [...]

0 comment Read Full Article
    Power sector was sold to clueless investors, says Saraki

Power sector was sold to clueless investors, says Saraki

Senate President Bukola Saraki on Tuesday criticised how the power sector was privatised, saying it was sold to individuals who had no idea about how to run it.He said the mistakes of past governments "borne out of ignorance, selfish interests and fraud", brought Nigeria to this point.Saraki said this at a workshop on power sector organised by the national assembly [...]

3 comments Read Full Article
    The power sector is a walking corpse, says Elumelu

The power sector is a walking corpse, says Elumelu

Tony Elumelu, chairman of Transcorp Group and United Bank for Africa (UBA), says Nigeria's power sector is a walking corpse, and it may collapse soon if no urgent action is taken."The agency of government that has responsibiity for making sure that this sector delivers on its potential is not doing well enough. We are owed a lot of money," Elumelu [...]

0 comment Read Full Article
Advertisement

 

Advertisement

Advertisement

Exchange Rates

September 18, 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.
Advertisement
Advertisement
Advertisement