Damilola Shittu – Abuja The Ministry of Power, Works and Housing has pledged commitment to pay N701 billion Payment Assurance fund to power Generation Companies (GenCos). Reacting to a media report, which claimed government would discontinue the payment, Permanent Secretary in the Federal Ministry of Power, Louis Edozien, discredited the publication, insisting the payment has…
Despite the Transmission Company of Nigeria’s (TCN) attainment of 5,375 megawatts, MW peak generation, stakeholders said the nation still has a long way, considering the 180,000 megawatts, MW requirement. The General Manager, Public Affairs of TCN, Ndidi Mbah, had stated in an email to Vanguard that the current capacity of Electricity Generation Companies, GENCOs had…
It was an atmosphere of joy and excitement at the Children’s Ward of National Orthopaedic Hospital, Igbobi, Lagos (NOHIL), when the staff of leading electricity distribution firm, Ikeja Electric Plc (IE), visited the hospital to celebrate Valentine’s Day with them. The visit, which was in line with the objectives of the company’s Personal and Corporate…
President Muhammadu Buhari has vowed to probe the $16 billion spent on failed power project by the administration of former President Olusegun Obasanjo. The News Agency of Nigeria (NAN) has reported. He said his government would recover the money and expose those behind the scam. President Buhari, who spoke on Tuesday in Yenagoa, the Bayelsa…
Damilola Shittu – Abuja The power Distribution Companies (DisCos) have insisted that there is no 2,000 megawatts (MW) stranded in the Nigerian Electricity Supply Industry (NESI) that can’t be delivered. But the Generation Companies (GenCos) confirmed the existence and are seeking ways to evacuate and supply more electricity to Nigerians. The Permanent Secretary (Power), Federal…
Ashaka Cement Company, a subsidiary of Lafarge Africa Plc has unveiled plans to inaugurate a 16-megawatt power plant in order to improve and solve the country’s energy problem. The Managing Director, Ashaka Cement, Rabiu Abdullah Umar, who disclosed this while speaking with journalists during the 2018 award ceremony for its distributors, said the company spent…
By Oke Peter The Federal Government, has warned it would revoke the licenses of oil producing firms that failed to pay up their royalties. Minister of State for Petroleum Resources, Dr Ibe Kachikwu, gave the warning at a Ministerial press briefing on key achievements of the Department of Petroleum Resources on crude oil, LNG tracking…
By Alfred Akuki First Bank of Nigeria Limited and Azuri Technologies, a leader in pay-as-you-go solar technology, today announced a unique partnership that will help deepen financial inclusion in Nigeria while bringing affordable, reliable and clean power to millions of Nigerians. Under the partnership, Azuri’s solar home TV product will be co-branded and co-marketed by…
By Colleen Goko, Paul Burkhardt and Prinesha Naidoo South Africa’s debt-laden power utility raced to stabilise the grid by resorting to the most intense supply cuts in four years while Moody’s Investors Service warned a plan to fix it fell short. Eskom Holdings SOC Ltd. is implementing so-called stage 4 rotational power cuts from 1…
The oil and gas sector in Nigeria, particularly upstream, will be affected by policy uncertainties, security, and slump in the price of crude oil, stakeholders have said. Players in the industry, in an outlook, ahead of the general elections, equally urged politicians to desist from comments that could further reduce investment inflow of into the…
