Category: Power

Nigeria Secures $500m World Bank Loan To Fund DisCos

ADEOLA YUSUF

The federal government has secured a $500 million loan from the World Bank to fund electricity Distribution Companies (DisCos). According to the Bureau of Public Enterprises, in a statement in Abuja, yesterday, the loan would fill financing gaps in the distribution segment, considered as the most problematic in the industry. “This funding supports the Nigerian Distribution Sector Recovery Program (DISREP) aimed at improving the financial and technical performance of the DisCos. “The Distribution Sector Recovery Program (DISREP) is designed to enhance the financial and technical operations of the DisCos through…

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Electricity Supply To Lagos Airport Gulps N12 Billion In One Year

ADEOLA YUSUF

. Nigeria mulls investment in solar power for Murtala Mohammed Airports   The Minister of Aviation and Aerospace Development, Festus Keyamo, has disclosed that the Federal Government was spending N1bn monthly to power the Murtala Muhammed Airport, Lagos. He stated this Monday during the ministerial press briefing in Abuja to mark President Bola Tinubu’s first year in office. According to Keyamo, the ministry is planning to reduce the heavy cost by investing in solar power systems. Keyamo explained that the ministry was bypassing the power distribution companies to buy electricity…

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NERC Slashes News Tariff FX Rate Calculation By 16.03%

ADEOLA YUSUF

The Nigerian Electricity Regulatory Commission (NERC) has reduced the exchange rate for calculating the current electricity tariff for Band A customers by 16.03%, from N1,463.3/$ to N1,277.8 from May to December 2024. This is revealed in the commission’s Multi Year Tariff order (MYTO) for May to December 2024 released recently. The NERC MYTO was reviewed following the appreciation of the naira in the foreign exchange market in the last one month. Following statements by various electricity distribution companies on the reduction of electricity tariff for Band A customers on Monday,…

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List of 60 Areas In Lagos Newly Upgraded to Band A For 20 Hrs Daily Supply

ADEOLA YUSUF

. NERC Okays 60 Feeders Upgrade For EKEDC, Ups Number On Band A To 134   The Nigerian Electricity Regulatory Commission (NERC) has approved the upgrade of 60 additional feeders of Eko Electricity Distribution Company, bringing the total to 134. Platforms Africa reports that the upgrade follows a review of the feeders in line with their capabilities to give the customers classified under the feeder at least 20 hours of power supply daily. The list The feeders are Agbara Local T5, Agbara Local T6, Beecham, Medallion Data Centre, Custom 2,…

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Nigeria Sinks Power Sale, Export For Togo, Benin, Niger To 6%

ADEOLA YUSUF

. NERC reads riot act, states why, how system operator will be penalised for violations of grid instructions on new cap of load allocation to int’l off-takers + Full details of latest order published on May 3       The Nigerian Electricity Regulatory Commission has ordered the System Operator, a department within the Transmission Company of Nigeria, to cap power supply to cross-border customers in Benin Republic, Niger, and Togo. The directive, outlined in a document titled “Interim Order on Transmission System Dispatch Operations, Cross-border Supply, and Related Matters,”…

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Oil, Gas, Power Ministers To Speak At NOG Energy Week

ADEOLA YUSUF

“7,000 participants, 800 delegates, 350 exhibition companies and 116 industry expert speakers,” Organisers speak on 2024 edition of the confab, which has been connecting the Nigerian energy industry with the int’l energy community for 25 years   The 2024 edition of the NOG Energy Week, which will spotlight energy industry’s opportunities to drive investment needed to meet energy demand, has confirmed the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri and his Gas counterpart, Ekperikpe Ekpo, as speakers. Platforms Africa reports that the event, which has been headlining the…

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Nigeria’s Electricity Generation Hits 4,800MW – Minister

ADEOLA YUSUF

Minister of Power, Adebayo Adelabu says Nigeria’s electricity generation has increased to 4,800 megawatts in the past few days from 4200MW. He disclosed this on Thursday when he was in Ajah, Lagos State, to launch a 63MVA, 132/33kV mobile substation installed under Phase 1 of the Presidential Power Initiative by the FGN Power Company in collaboration with Siemens Energy. He warned saboteurs of Nigeria’s power sector to stake off for lasting development to be seen in the industry. “Let me mention that we have started seeing improvements in our generation…

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‘They Took Light,’ How Outage Disrupted Power Minister’s Speech At Senate

ADEOLA YUSUF

Drama played out when power supply was seized as the Minister of Power, Adebayo Adelabu, was speaking at the National Assembly. Adelabu was fielding questions from senators at the investigative hearing on “the need to halt the increase in the price of electricity” organised by the Senate Committee on Power. Power was, thereafter, restored in less than five minutes. Speaking about the power interruption, the Chairman of the Senate Committee on Power, Eyinnaya Abaribe, said what the minister said about the stable electricity in the country was implicative. He said,…

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Power: Enough Of Sponsored Campaign Against Adelabu – CSO

ADEOLA YUSUF

A Civil Society organisation, Peoples Right Agenda (PRA) has condemned the incessant sponsored attacks on the Minister of Power, Chief Adebayo Adelabu and his effort to make a difference in the Nigeria power sector. It described the media assaults as sponsored. In a statement made available to newsmen at the weekend, PRA said the attacks were sponsored by different stakeholders who desire the status quo to continue and political detractors who see nothing good in what the administration of President Bola Ahmed Tinubu is doing to make Nigeria a country…

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Nigerian Energy Editors Unveil Date, Theme for NAEC 2024 Int’l Conference

ADEOLA YUSUF

“We are raising the bar, focusing on solutions to energy transition, gas-to-power conundrums, underscoring Nigeria’s energy prosperity,” Organisers speak on what to expect Top energy industry leaders and experts are expected to converge in Lagos on October 3, at the Association of Energy Correspondents of Nigeria (NAEC) Annual International Energy Conference 2024. The organiser revealed that the conference will focus on the role of natural gas as an energy transition fuel, addressing Nigeria’s Trilemma of Finance, Energy Security, and International Politics. National Chairman of NAEC, Ugo Amadi, in a statement…

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