The industrial take-off required to support the much-needed economic diversification remains elusive. A principal reason is Nigeria’s structural deficit, in which the epileptic power supplies form a major part. Industry sources suggest that businesses suffer an average monthly power outage of 239 hours (equivalent to about two weeks). As such, self-generation and the associated costs…
The Transmission Company of Nigeria (TCN), said it was targeting to raise the transmission wheeling capacity to 10,000 megawatts (MW) from the present 8,100MW by reconductoring seven critical transmission lines in the country. The Managing Director/CEO, Mr. Usman Gur Mohammed who gave this indication at a quarterly press conference recently in Abuja, said this was…
Esther Ajibola – Lagos The Nigerian Electricity Regulatory Commission (NERC) has disclosed that electricity customers will be able to acquire meters without upfront payment starting from next month. NERC said customers could get meters and pay in instalments within one year or a maximum of 10 years, with the prices of a one-phase and three-phase…
To understand the implications of the world’s changing energy demands, and the eventual change in geopolitics for Nigeria, we need to understand how our relationships with key economic partners like US, China, Europe and India will change. As the US has most of the other commodities Nigeria produces and Nigerians cannot afford most American produced…
Ikeja Electric Plc. (IE) has collaborated with a multinational retail company, PEP Stores, to enable customers to pay bills or recharge their account at designated PEP Stores across Lagos. Under this partnership, post-paid and prepaid customers within IE network can pay their bills and recharge their account while doing regular shopping in PEP Stores located…
In its determination aimed at reducing the unemployment rate in the country, Ikeja Electric Plc (IE) has partnered with Slot Foundation to train 40 young persons in skill acquisition and capacity building empowerment scheme tagged: ‘Youth Empowerment Program (YEP).’ YEP is one of IE’s Corporate Social Responsibility (CSR) initiatives designed to empower youths who are…
Oke Peter with Agency Report The Nigerian National Petroleum Corporation (NNPC) has issued award letters for contracts to exchange crude oil for imported petroleum products, Reuters quoted sources familiar with the matter as saying. A total of 15 groupings, with at least 34 companies in total, received award letters, four sources with knowledge of the…
Renewable energy investor Platinum Power, minority-owned by United State private equity firm Brookstone Partners, has teamed up with China’s CFHEC to build a $300 million hydropower plant in central Morocco, it said recently. CFHEC, which is a subsidiary of state-owned construction firm CCCC, will partner with the Moroccan group to finance, build and run the…
In line with its targets for increasing crude oil production to 6.2 million barrels per day (bpd) by end-2020 and 9 million bpd by end-2023, up from the current 4.6 million bpd or so and on a par with Saudi Arabia’s output, Iraq has made it clear to foreign and domestic oil field developers alike…
Tunisian Minister of Industry and Small and Medium Enterprises (SME’s), Dr Slim Feriani, has recently granted and approved six new oil and gas prospecting permit. The beneficiaries include Hezoua, Weha, Teskraya, Kef Abed, Metline and Saouaf. The event, held on 28th June, 2019, in the presence of the Chief Executive Officer (CEO) of the Tunisian…
