Energy consumed by the Eleven DisCos in 2019 stood at 28,026,503 MWh, Ikeja DisCo recorded the highest energy consumption with 4,087,971 MWh accounting for 14.95% while Yola Disco recorded the lowest with 1,122,534MWh accounting for 4% of total energy consumed in 2019.
The President Muhammadu Buhari, has transmitted the much-awaited Petroleum Industry Bill 2020 to the National Assembly and has proposed the creation of the Nigerian National Petroleum Company Limited.
OPEC members were served an unpleasant surprise from exempted fellow Libya. The country’s warring factions reached a ceasefire, and some long-shuttered oil ports have been reopened, along with the fields that feed them.
But speaking during a downstream stakeholders’ meeting which held at the NNPC Towers, Abuja, Group Managing Director of the corporation, Mallam Mele Kyari, argued that it was not in the best interest of the national oil company to be the sole importer of fuel. A press release by the corporation’s Spokesman, Dr. Kennie Obateru, quoted Kyari as saying that concrete steps were being taken by the federal government to address the main concerns of marketers, especially the issue of availability of forex.
Kyari said international investors were losing confidence in the nation’s oil and gas industry and tasked the lawmakers to act fast and arrest the situation.
It said that the subsidy was paid to oil marketers and the Nigerian National Petroleum Corporation (NNPC) in the period under review.
Schneider Electric, a leading digital transformation, energy management and automation giant, has launched new intelligent equipment to achieve a self-healing grid and ensure efficient use of power in Nigeria.
Africa, which has a population of 1.3 billion people, has an electricity-access rate of just over 40%, the lowest in the world, according to the African Development Bank. South Africa, the continent’s most-industrialized economy, has battled power shortages since 2008 after the government failed to invest in new plants in time to replace aging equipment and infrastructure.
And as countries embark on cleaner energy pathways and transportation, they should think through how to ensure a just transition for fossil fuel-dependent communities. “In order to effect a transition which is going to be successful we will have to find ways of mitigating the impact on people who work in the coal economy,” says Ranjit Lamech, Infrastructure Director for the World Bank’s East Asia and Pacific Region.
President Buhari noted that increase in price of electricity and deregulation of the petroleum sector were crucial decisions that were taken at the beginning of the year, preceding the COVID-19 pandemic, and continuous delay in implementation of the policy of the “Willing Buyer, Willing Seller” and deregulation of the petroleum would be detrimental to the economy, placing the burden of regular light cuts and fuel queues on Nigerians.
