Category: Power

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…

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…

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…

By Energy Worth There are indications that the financial support from the Central Bank of Nigeria (CBN) to the power sector will help reduce the amount of Non-performing Loans (NPLs) in the banking system, especially for lenders that are highly exposed to the sector. This declaration was made at the Renaissance Capital (RenCap) ninth Annual…

By Energy Worth Residents of the Ilaje Local Government Area of Ondo State have decried the lack of power supply in many communities in the area. The residents, who spoke during a South-South zonal interactive session organised by the House of Representatives ad-hoc committee on power in Benin, the Edo State capital, lamented they had…

A deluge of investments are pouring into Nigeria’s off-grid electricity initiative which is targeting key economic clusters across the country. The initiative is conceptualised to free the national grid system that has proved unreliable even after unbundling the monopolistic National Electric Power Authority (NEPA) and eventual partial privatisation of the power sector in 2013. The…

By Energy Worth Schneider Electric, global specialist in energy management, software and automation, has unveiled a new range of cable management systems customised for new and modern buildings. The engineering design of the product, which was unveiled during a grand Retail Partners event in Lagos recently, enhances architectural finishing of structures and buildings while facilitating…

The yearning to ensure qualitative and stable power supply to Nigerians has made the federal government to install two 15 Mega Volt Ampere (MVA) capacity transformers to boost electricity supply to Lagos State residents. The projects would go a long way in boosting the economy of the state through the expansion and sustainability of small…

Why was a whopping $15 billion invested in the National Integrated Power Project (NIPP)? This is a question that has lingered for more than a decade. Yusuf Alli writes on while the multi-billion power sector investment did not yield the desired result. LIKE a recurring decimal, the debate on what happened to the $16 billion…