Category: Power

Why We launched Energy Club For Lagos School Girls – EKEDC

ADEOLA YUSUF

The Eko Electricity Distribution Company (EKEDC) has launched energy clubs in selected schools within its network, to encourage young girls to take opportunities in the power sector. The club activities is expected to promote the interest of female students in Science, Technology, Engineering and Mathematics (STEM) disciplines, to achieve gender diversity and equity in the Power Sector and other related technical sectors. Platforms Africa reports that the programme launch, which was held at Government Secondary School Ikoyi, is in partnership with the United States Agency for International Development, USAID. The…

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Labour Shuts Yola DISCO, Grounds Activities Over Mass Sack

ADEOLA YUSUF

Why the YEDC may remain under lock and key for time longer than envisaged – NLC The Organised Labour on Tuesday in Adamawa State, shut down activities of Yola Electricity Distribution Company, YEDC, over what they described as mass sack and wrongful disengagement of staff. Platforms Africa reports that the union was particularly enraged by the disengagement of workers when the process of acquiring the company by Quest Electricity Nigeria limited was not completed. READ ALSO I Am Angry With State of Nigeria’s Power Sector – Buhari NBET Processes N68bn…

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Ibom Power Mulls Investment, Generation Surge to 685MW

ADEOLA YUSUF

Why Company is targeting 500MW Additional Power Generation – Managing Director The Ibom Power Plc is consolidating on its existing investment and also targeting construction of about 500MW power plant in addition to its current 190MW. Platforms Africa reports that the Managing Director of the power firm, Engr Meyen Etukudo, who declared this in a chat with top energy journalists in Uyo, capital if Akwa Ibom state, said that the 685MW licence acquired by the company has even been renewed till 2028. He listed some of the challenges confronting the…

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2022 Outlook: Eaton Shares Projections for Buildings Sector

ADEOLA YUSUF

Few areas of business were impacted by the pandemic in such a profound way as buildings. The immense shifts in what we need from buildings, from changing work-life patterns to the movement of retail activity further online, may take years to fully come to fruition. At the same time, however, this ‘change point’ represents an opportunity for the buildings sector to make real change towards delivering a built environment which is fit for the future. Here are five key things to look out for in the coming year as those…

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NBET Processes N68bn in One Year, Pays N42bn to GenCos for Nov Cycle

ADEOLA YUSUF

The Nigerian Bulk Electricity Trading Plc (NBER) has, for the 2021 payment cycle, processed an average of N68 billion naira worth of electricity via the grid, making sure that GENCOS received an average minimum settlement of 85% of generation invoices. The NBET also said it processed market payment of over N42 billion naira (N42,486,673,723.75 (billion) to generation companies (GENCOS) for the November 2021 Payment Cycle. This, the firm said in a statement sent to Platforms Africa, is for grid distributed electricity. The payments were made last week to GENCOS for…

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How IEDM Default in Polaris Bank Loan Caused Asset Takeover in IBEDC, 25 Banks – AMCON

ADEOLA YUSUF

The Asset Man­agement Corpo­ration of Nigeria (AMCON) has given details of how it ex­ecuted the takeover of Integrated Energy Dis­tribution and Marketing (IEDM) Limited, the core investor of Ibadan Elec­tricity Distribution Com­pany (IBEDC), following a default in a loan servicing agree­ment executed with Polar­is Bank. Platforms Africa reports that the agency conveyed the change of baton in the electricity firm in a public notice, where it also disclosed that it had appointed Mr. Osayaba Giwa-Osagie (SAN) to take over the entire undertak­ings, assets of IEDM in­cluding shares and inter­ests in…

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Nigeria Mulls 5m Solar, Mini-grid Power Installation, Inks MoU For 2 States

ADEOLA YUSUF

The Nigerian government has announced plans to install 5 Million Solar Home System (SHS) and Mini-Grid across the country. Platforms Africa reports that the Minister of power, Abubakar Aliyu, who said this during the signing of Memorandum of Understanding (MoU) between the Sokoto and Bauchi state governments, maintained that the solar and mini-grid deal would generate 250,000 jobs to impact over 25 Million beneficiaries across the states in Nigeria. READ ALSO: I Am Angry With State of Nigeria’s Power Sector – Buhari Nigeria suffers N10trn losses to Power Epilepsy in…

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EKEDC Gets New Chairman, To Consolidate N11bn Monthly Revenue Feat

ADEOLA YUSUF

Meet Oritsedere Otubu, Houston Baptist University Accounting graduate who’ll replace Charles Momoh as Chairman, Board of Directors, EKEDC   Eko Electricity Distribution Company (EKEDC) has announced the appointment of Mr. Oritsedere Dere as its new Chairman. He replaces Mr. Charles Momoh who was the pioneer Chair and is stepping down after 8 years in line with company’s policy and international best practices. Platforms Africa reports that it is expected that Mr. Otubu will consolidate on the gains achieved under Mr. Momoh where monthly revenues climbed steadily from about N2.3b to…

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Sahara Power Group GMD, Adesina, is Vanguard Private Sector Icon

ADEOLA YUSUF

Kola Adesina, Group Managing Director of Sahara Power Group, the largest privately owned vertically integrated power company in sub-Saharan Africa, has been named the ‘Private Sector Icon of the Year’ by Vanguard Media Limited, a foremost Nigerian and African new publication. Platforms Africa reports that a statement by the Sahara Group, which declared this, noted that the newspaper organisation stated that Adesina bagged the award because he was “a consummate entrepreneur with experience that traverses academia, insurance, finance, energy, trade and diplomacy.” READ ALSO: BREAKING: Nigeria’s Electricity Market debts to…

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NERC Makes N938.5m from Generators’ Importers, Others in 1 Year

ADEOLA YUSUF

The Nigerian Electricity Regulatory Commission (NERC) generated approximately N938.5 million as fees collected from importers of generators and other internal revenue sources from June 2020 to June 2021, an analysis of the data for the four quarters provided by the industry regulator, has shown. Platforms Africa gathered that NERC had in 2013 introduced a N25,000 charge per unit of 100KVA generator imported into the country in its guidelines for obtaining clearance certificate for the importation of generating sets and related matters. READ ALSO: I Am Angry With State of Nigeria’s…

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