Tag: Nigerian Electricity Regulatory Commission (NERC

DisCos Fret As Banks Perfect Assets’ Takeover Over N860bn Debt

Abibat Babalola

UBA, Polaris takeover of AEDC, IBEDC becomes popular template for discourse at lenders’ Boardroom Commercial banks in Nigeria are now perfecting plans to takeover electricity distribution companies in the country as N860 billion debts burden weigh down on lenders. Platforms Africa reports that the banks provided funds to the 11 electricity distribution companies for the acquisition of majority shares in government’s power utilities during the November 1, 2013 privatisation exercise. The owners of the 11 discos, according to the Bureau of Public Enterprises (BPE), had paid the Nigerian Government $1.26billion…

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Electricity Tariff Review Looms, NERC Insists Action Statutory Every 6 Months

Abibat Babalola

GenCos, NBET Bickering Degenerates, generation firms lampoon bulk traders   The Nigerian Electricity Regulatory Commission (NERC) will conduct a minor tariff review every six months to reflect the economic situation, especially the disparity between naira and other major currencies, specifically the dollar. NERC Chairman, Sanusi Garba, who disclosed this on Thursday said that the commission was not implementing tariff review in secrecy. Speaking at a media briefing in Abuja, Garba said: “We will adjust the rate every six months to take care of the foreign exchange component of costs, and…

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