Category: Business News
Business News
NERC puts limits on Discos’ estimated billing
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…
Ogunbiyi, energy investors, others to address SDG7 and impact of energy investment at Africa Energy Forum 2020
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…
NNPC has over $20bn assets —Kyari
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…
TC Townhall: Emerging Tech–Artificial Intelligence and Blockchain workshop holds Feb 28
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…
Blackout looms as fire guts TCN station in Ibadan
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)…
Mining Indaba’s ‘Young Leaders in Mining Programme’ holds Feb 6
By Oke Peter In its determination aimed at establishing a forum for the next generation of miners, organiser of Mining Indaba has in invited students with interest in a potential career in the mining industry to attend Mining Indaba’s Young Leaders in Mining Programme on Thursday 6 February at the Cape Town International Convention Centre….
NERC moves to remove tariff-related liabilities from DisCos
By Oke Peter The Nigeria Electricity Regulatory Commission (NERC) on Thursday moved to remove historical related liabilities from the financial records of DisCos. NERC said that the order No. NERC/196/2020 that it issued yesterday seeks to resolve the continued accumulation of future tariff-related shortfalls during the transition to cost-reflective tariffs and to prevent the accrual…
Senate set to probe NNPC’s $396m refineries’ repairs
Damilola Shittu – Abuja The Senate on Thursday agreed to probe the Nigerian National Petroleum Corporation (NNPC) over the $396m expended on turnaround maintenance of refineries in the country between 2013 and 2015. The red chamber also mandated the committees on Petroleum Downstream, Upstream and Gas to carry out a holistic investigation into the expenditure…
NUEE gives Power Ministry 14 days to pay disengaged workers
The National Union of Electricity Employees (NUEE) has issued 14 days ultimatum to the Federal Ministry of Power to pay more than 2,000 workers that were disengaged from the defunct Power Holding Company of Nigeria or risk industrial action from electricity workers.The union gave the ultimatum on Wednesday during a media briefing in Lagos. It…
Diversification from oil will be enhanced by investment flows
The Nigerian government has participated enthusiastically in the U.K/Africa investment summit. It is likely to attract substantial investment flows, which will help boost productivity and output in the medium term. The diversification of the economy away from oil dependence will be enhanced by these flows and domestic commodities output is expected to surge. In the…