The International Monetary Fund (IMF) has predicted that Nigerian economy will grow from 0.8 per cent in 2017 to 2.1 per cent by the end 2018, while warning of possible crash in crude oil prices. According to its latest World Economic Outlook (WEO) Report launched in Washington DC on Tuesday, the Fund projected that Nigeria…
The Petroleum Technology Development Fund (PTDF), has called for the creation of a single national platform for the co-ordination of all collaborative activities in human capital development in the oil and Gas sector. The Executive Secretary of the Fund, Dr Bello Aliyu Gusau disclosed this in a statement issued by Mr Kalu Otisi, Head, Press…
The Group Executive Director, Finance and Account of the Nigerian National Petroleum Corporation (NNPC), Mr Isiaka Abdulrazak has disclosed that the corporation recorded a trading surplus of N250 billion in 2016. Abdulrazak said this in a quarterly publication of the NNPC, a copy of which was obtained by the News Agency of Nigeria (NAN) on…
By Oke Peter Abuja Electricity Distribution Company (AEDC) has disclosed that about $150 million is required to finance metering of electricity customers in its coverage areas of Kogi, Niger, Nasarawa and the Federal Capital Territory (FCT). AEDC’s Managing Director, Mr Ernest Mupwaya, said this while making a presentation to House Committee on Privatisation, who was…
Energy Worth with Agency Report The management of Afam Power PLC, has been compelled to cut generation from 560 megawatts, MW to 250 MW as a result of distribution challenges. The Managing Director of Afam Power PLC, Engineer Olumide Obafemi, who made the remarks on the sideline of ministerial press visit to Afam Power PLC,…
Residents of Maiduguri metropolis and Jere Local Government Areas of Borno State have condemned the alleged outrageous and crazy electricity bills sent to them by the Yola Electricity Distribution Company (YEDC). Some of the residents who spoke with the Daily Trust alleged that the billing system in the metropolis and environs was exploitative, considering the…
They sway and dangle from electric poles, constituting a scary sight. Some hang so low that you could touch them with your hands. These sagging and hanging cables and wires have become a familiar sight in major cities across Nigeria. And the situation has become a serious cause of concern as it poses a threat…
Energy Worth with Agency Report The Nigeria Delta Development Commission (NDDC) has said that it has plan to generate 7,000 megawatts of electricity to improve power supply and boost economic activities in the region. The Managing Director of the NDDC, Mr NSIMA Ekere, disclosed this in a telephone interview with the News Agency of Nigeria…
Eight out of the 27 power plants in Nigeria were shut down on April 9, 2018, as a result of operational constraints that include gas, line and frequency management. Some of the power plants tripped due to low gas pressure while GT3 was shut down due to generator air inlet filter trouble. Data from the…
The Ghanaian government has set aside US $230m to promote the use of renewable energy in Ghana, particularly in off-grid communities across the country. According to the Deputy Director of Renewable Electricity at the Ministry of Energy, Seth Mahu, the funds will be available to the private sector to deploy over 35,000 systems in off-grid…
