Category: Power
Power sector records N187bn loss in 6 months
Energy Worth with Agency Report THE electricity sector has recorded losses amounting to N187 billion as a result of inadequate gas, poor distribution and transmission as well as water reserves constraints. Minister of Power, Works and Housing, Mr Babatunde Fashola The losses recorded between December, 2017 and May, 2018 has affected the generation, transmission and…
Most Power Gencos lie about their generation capacity —TCN
By Energy Worth The practice of blame games between key operators in Nigeria’s power sector have continued unabated with the Transmission Company of Nigeria (TCN) stating on Tuesday, in Abuja that most power generation companies (Gencos) in the sector lie about the capacities of their plants so they can make financial claims on capacity charges….
Current throws Rivers man off electric pole …after rejecting N1m to stop suicide attempt
THE restoration of electricity in the early hours of Monday threw a man suspected to be in his late 30s off a high tension pole in his failed attempt to commit suicide. The unidentified man had climbed the high tension pole close to Jevinik Restaurant in New GRA, Port Harcourt at about 11pm on Sunday,…
Kano set to inaugurate IPP
Kano state Governor, Dr Abdullahi Umar Ganduje has said that the Kano Independent Power Project (IPP) will be commission in October this year. Addressing press men on Monday as part of his 3rd anniversary, Ganduje also said an over N1bn contract had been awarded for the construction of transmission plant for onward distribution of the…
Democracy Day: Nigerians are enjoying better power supply —Buhari
Energy Worth with Agency Report Many Nigerians are reporting less use of generators due to improved power supply, President Muhammadu Buhari said on Tuesday. The president spoke in his broadcast to Nigerians to mark this year’s Democracy Day. “In the area of power generation, Nigerians from all parts of the country continue to report better…
Edo-Azura power project, a blueprint for power model —Gov Obaseki
Edo State Governor, Mr. Godwin Obaseki, has said with the 450MW Azura-Edo power project now on stream, the state is looking at attracting more investors for the Benin Industrial Park and technology innovation hubs, which would benefit from the conducive business environment and guaranteed power in the state. The governor said this during the visit…
CBN funds 704,928 electricity meters, 500 transformers
By Energy Worth The Central Bank of Nigeria has provided funds to power distribution companies for the purchase of 704,928 meters and for the acquisition and installation of over 500 transformers. In a bid to avert the collapse of the country’s power sector, the bank has also paid more than N24bn to gas suppliers and…
FG’s plan to recapitalise DisCos has corporate governance concerns
With shortfalls in the electricity market at over N1 trillion, the need to rescue the electricity sector has never been more acute. The challenge however is that the distribution companies (DisCos), who collect on behalf of everyone else in the value chain, are inefficient. This is why the Federal Government has been considering options to…
Obasanjo releases EFCC report on $16b power project spending
While still awaiting a fresh probe of his administration between 1999-2007, former President Olusegun Obasanjo, yesterday made public the report of the investigation conducted by the Economic and Financial Crimes Commission (EFCC) in 2007, on various allegations, including that of the alleged $16b power project. The 20-page report was the outcome of investigations based on…
EEDC moves against energy theft, vandalism of electrical infrastructure
The Enugu Electricity Distribution Company, EEDC, has established a Special Investigation and Prosecution Task force on Electricity Offences (SIPTEO). The EEDC head of communications, Emeka Ezeh, made this disclosure in a statement issued to newsmen on Sunday in Enugu. According to the statement, the development is to checkmate individuals and organisations, engaging in energy theft…