Damilola Shittu – Abuja The electricity distribution companies (Discos) in Nigeria’s power sector have denied receiving financial subsidies from the federal government since 2013 when the sector was reformed, and privatisation exercise concluded. The Discos through their trade association – the Association of Nigerian Electricity Distributors (ANED), condemned a recent claim by the federal government…
Nigeria is set to build the second-largest hydropower plant in Africa after the government settled a legal dispute that was delaying the project, said power minister Sale Mamman. “We have now overcome the major problem stopping this project and it [the legal dispute] is nearly over,” Mamman said in an interview in Abuja, the capital…
Since November 2013, when the Power Holding Company of Nigeria (PHCN) successor companies were handed over to their new owners, the perennial challenge of epileptic power supply, which over the years contributed to the frail economic growth recorded by the country has remained unabated. In fact, the expectation of improved and stable supply of electricity,…
By Jumoke Adelabu The Nigerian Electricity Regulatory Commission (NERC) has placed limits on estimated bills that can be issued by electricity distribution companies to unmetered customers. It said it had cancelled the Estimated Billing Methodology Regulation as a basis for computing the consumption of unmetered customers by the Discos. NERC disclosed this in its order…
By Oke Peter The organiser of the global investment meeting for Africa’s power, energy, infrastructure and industrial sectors, Africa Energy Forum (AEF), EnergyNet Limited has announced that the 22nd edition of the Africa Energy Forum will address SDG7 and Impact of Energy Investment. Africa Energy Forum brings together stakeholders in Africa’s energy sector to identify…
By Oke Peter The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, disclosed on Monday that the corporation has assets worth over $20 billion, even as he decried the continued importation of petroleum products into the country. Kyari said this at the at the Nigeria International Petroleum Summit 2020 in Abuja. At…
In its determination aimed at providing answers to the key questions that businesses, big corporations, and policymakers have about Artificial Intelligence and Blockchain.TechCabal has announced that it will convene entrepreneurs, investors, policymakers and corporate organizations including telcos and financial institutions to examine how businesses, individuals and countries across the continent can maximize the benefits of…
By Oke Peter The Nigerian Minister for Mines and Steel Development, Olamilekan Adegbite on Thursday said he had set a target for the mining sector to contribute 3.0% of the nation’s GDP by 2025 as part of the efforts to contribute to the current administration’s diversification project. He disclosed this at the Mining Indaba conference…
By Jumoke Adelabu Some states in the South-West such as Oyo, Osun and Ogun may experience blackout as a giant transformer at the transmission station belonging to the Transmission Company of Nigeria (TCN), at Ayede, Akinyemi, Ring Road, Ibadan, was yesterday gutted by fire. Energy Worth Online learnt that the T1B 150 Mega-volt Arm (MVA)…
Usman Mohammed, managing director of the Transmission Company of Nigeria (TCN), says mistakes made during the privatisation of the power sector produced weak electricity distribution companies (DisCos). The sector was privatised in 2013 with the distribution and generation sub-sectors sold to core investors. Speaking in Lagos on Monday, Mohammed said the laws were adjusted to…
