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 [...]
Tag "Power sector"
ON THE GO
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 [...]
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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
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