Financial auditors engaged by some of the electricity Distribution Companies (DisCos) such as PriceWaterhouseCoopers (PWC) and Deinde Odusanya and Co have expressed uncertainty over the continued existence of the companies as they declared huge operation losses in two consecutive years ended December 31, 2015 and 2016 respectively. In their separate submissions to the companies, copies…
By Energy Worth The Economic Community of West African States (ECOWAS) has inaugurated its Regional Electricity Market to address power challenges and fast track efficient cross-border electricity trade among member states. President of Benin, Mr. Patrice Talon, represented by the Senior Minister of Planning and Development, Mr. Abdulahi Tchiane, officially inaugurated the project. He said…
By Tsvetana Paraskova Islamic State was selling oil and gas to the Syrian regime and to Turkey, while the militants were ruling over large areas in Syria and Iraq over the past three years, a senior ISIS commander said in an interview with the Kurdistan 24 news outlet on Sunday. “Oil and gas obtained by…
The death toll in Thursday’s oil tanker fire on the Otedola Bridge end of the Lagos-Ibadan Expressway, Lagos, has risen to 12. PUNCH Metro had reported that a truck loaded with petrol crashed on the bridge and spilled its content on the expressway, causing fire that destroyed 54 vehicles and killed nine persons. The Lagos…
By Energy Worth The World Bank Thursday announced its approval of a total of $2.1 billion as project support loan for Nigeria. The concessionary loan is to support the funding of seven projects in key sectors in the country. The World Bank, in a statement listed the seven projects to include nutrition, access to electricity,…
The Lagos State Government on Sunday said a combination of vehicular defect and human errors were responsible for the Thursday tanker fire on Otedola Bridge end of the Lagos-Ibadan Expressway, which led to the death of 10 persons and destruction of 54 vehicles. The government said it had taken some measures to prevent a recurrence,…
Barely 24hours after the fire accident on Abeokuta Street in the Kaduna North Local Government Area, Kaduna State, a building was gutted by fire in the late hours of Saturday, according to The Punch newspaper. The house, located on Rafiu Close, near River Kaduna, in the Southern Kaduna metropolis, has a warehouse own by Foodview…
By Energy Worth The Nigerian National Petroleum Corporation (NNPC), has said it is planning to build new power plants from its infrastructural development projects. Group Managing Director of the NNPC Maikanti Baru, said this in a statement in Abuja, on Thursday. According to Baru, some of the new projects like the 614 kilometer Ajaokuta-Kaduna-Kano, AKK,…
Following the tragic tanker explosion on Otedola Bridge inward Ojodu Berger along Lagos-Ibadan Expressway which claimed lives and property, the Lagos State Government on Sunday restricted movement of Fuel Tankers to designated trailer route going forward. The government also said it was now mandatory for all articulated trucks coming into Lagos to obtain the Ministry…
A House of Representatives ad hoc panel, on Friday said the Nigeria Electricity Regulatory Commission (NERC) and electricity distribution companies (Discos) are conniving to shortchange and extort money from Nigerians through excessive billing. The ad hoc panel, investigating the need to curb excessive electricity charges being levied on consumers by disCos, said majority of the…
