By Energy Worth The Nigerian Electricity Regulatory Commission on Tuesday said it had no plan to dump the Multi-Year Tariff Order framework used in determining the tariff payable by electricity consumers in the country. NERC denied reports that it was planning to quit the MYTO framework, but stated that it planned to review the financial…
By Energy Worth The nation’s power transmission may experience huge hitch as a result of planned show down of labour union in the electricity sector with the Managing Director of the Transmission Company of Nigeria (TCN), Mr Usman Gur Mohammed, over his alleged high-handedness and interference with the affairs of members of Senior Staff Association…
By Energy Worth President Muhammadu Buhari says his administration has spent about $9 billion to strengthen investment on power, roads and railway. Buhari said this on Monday while declaring open the 61st meeting of the United Nations World Tourism Organization (UNWTO) Commission for Africa (CAF) holding in Abuja. Represented by Boss Mustapha, secretary of the…
By Energy Worth The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has said that the oil firm cannot provide the information being sought by a human rights lawyer, Femi Falana (SAN), on fuel importation and sundry matters. Baru, through an external solicitor, Mr. O. B. Omale of Omale O. B. & Co.,…
Few months ago, the Nigerian Electricity Regulatory Commission (NERC) meter asset provider (MAP) regulation took effect, to close the end-user metering gap and eliminate the practice of ‘estimated billing’ with a few exceptions as envisaged under the said regulation. Estimated billing gives electricity distribution companies (DisCos) discretion to unilaterally determine the estimation of electricity bill…
By Energy Worth The Nigeria Electricity Regulatory Commission (NERC) has discarded the multi-year tariff order (MYTO) in a bid to determine whether consumers are being cheated. This was disclosed by NERC chairman, Professor James Momoh, , made this known on Thursday in Abuja. He said the commission, under his watch, will not adopt the MYTO…
By Energy Worth Residents of Gateway Estate, Magodo Phase I, in the Isheri area of Lagos State, have been left in darkness after Ikeja Electric Plc cut off power supply to them on Tuesday. Our correspondent gathered that the electricity distribution company cut off supply to the estate on the grounds that some residents were…
By Tsvetana Paraskova In a tight oil market reacting with price gains to concerns about supply shortages, the leaders of the OPEC and non-OPEC nations part of the production cut deal—Saudi Arabia and Russia—hinted last week that easing the cuts was an option that they had discussed and that would be up for talks at…
By Energy Worth Nigerian National Petroleum Corporation (NNPC) has dismissed rumours of an approved N36 billion compensation said to be due to Alesa-Eleme community in Rivers State as royalty for playing host to the Port Harcourt Refining Company, a subsidiary of the corporation. The corporation’s Group General Manager, Group Public Affairs Division, Mr Ndu…
By Oke Peter Nine months after the Senate resolved to investigate alleged $25b contract scam in the Nigerian National Petroleum Corporation (NNPC), no positive step has so far been taken to provide details to anxious Nigerians. After its inaugural meeting in October 2017, the committee soon buckled under pressure, allegedly mounted on it by…
