Day: August 20, 2020

Nigeria’s power transmission hits 5,420.30MW first time in 60 years

Aliyu Aliyu

The electricity transmission in Nigeria, a country of about 200 million people, hit 5,420.30 mega watt (MW), first time in about 60 years of the nation’s existence as a sovereign state. The country’s Transmission firm, Transmission Company of Nigeria (TCN), which declared this on Thursday, August 20, 2020, noted that the new all-time national peak of 5,420.30MW was effectively transmitted through the national grid at a frequency of 50.10Hz at 9:15pm, August 18, 2020. “This is the highest ever recorded in the nation’s power sector to-date, surpassing the previous peak…

Read More

Buhari returns NDPHC to five Directorates, approves another 4-Year terms for MD, EDs

Precious Ibekwe

Nigeria’s President Muhammadu Buhari has pulled another string in the country’s power sector as he returned the number of Directorate at the Niger Delta Power Holding Company (NDPHC) to five. The President who on May 29, 2015 met the company, incorporated exactly fifteen years ago (August 2005), with five Directors, scrapped the structure put in place by the Goodluck Jonathan government where all the six geopolitical zones make up the five Executive  Directors and Managing Director. Checks by Platforms Africa showed that the company began operations after being incorporated with…

Read More

Oil Producing Nation, Kuwait Runs Out of Cash, Warns On Salary Payment Default

Tim Bauer

  Kuwait has $6.6 billion worth of liquidity in its Treasury and not enough cash to cover state salaries beyond October, Finance Minister Barak Al Sheetan warned parliament. His warning was made as political wrangling again delayed efforts to return to international bond markets. The government is withdrawing from its General Reserve Fund at a rate of 1.7 billion dinars a month, meaning liquidity will soon be depleted if oil prices don’t improve and if Kuwait can’t borrow from local and international markets, he said. Managing the crisis has proven…

Read More