News Power & Energy

FG pumps N600 billion funds into power sector

Ihesiulo Grace 21 August 2019 0

The power sector will be receiving N600bn intervention from the Federal Government soon. It was gathered on Wednesday in Abuja that President Muhammad Buhari has signed for the release of the fund. The Marketing Operator, Transmission Company of Nigeria, Edmond Eje, disclosed this while

Banking Business Power & Energy

World Bank, AfDB boost Nigeria’s power sector with $961m

Ihesiulo Grace 20 August 2019 0

Michael Ajayi Not less than a total sum of $961 million or N349.8 billion was raised from the World Bank and African Development Bank (AfDB) in 2018 alone for power transmission investment. The Managing Director of Transmission Company of Nigeria (TCN), Usman Gur Mohammed, reportedly disclosed this recently in Abeokuta, while maintaining that the funds […]

Business Power & Energy

Osinbajo faults DisCos performance

Ihesiulo Grace 16 August 2019 0

…Says Nigeria needs a new strategy Yemi Osinbajo, Nigeria’s vice president, has faulted electricity distribution companies (DisCos), accusing them of performing below expectation. Speaking at the inauguration of some transmission lines at in Abeokuta, Ogun state capital, on Thursday, Osinbajo said the 11 DisCos are only able to distribute 4,000MW or less out of 7,000

News Power & Energy

EKEDC equips 246, 587 customers with prepaid meters

Ihesiulo Grace 15 August 2019 0

The Eko Electricity Distribution Company (EKEDC) on Thursday said it had supplied 246, 587 customers with prepaid meters out of the 501, 532 customers within its network as at August 2019. General Manager, Corporate Communications, Godwin Idemudia, made this known in an interview in Lagos. Idemudia said the company has engaged the service of seven […]

Business Oil & Gas Power & Energy

DPR seals 31 illegal filling stations in Kano, Adamawa

Ihesiulo Grace 19 July 2019 0

Michael Ajayi The Department of Petroleum Resources (DPR) has sealed 31 filling stations in Kano and Adamawa States for various offences. While 25 filling stations were sealed in Kano for irregular dispensing, diversion of petroleum products, among other offences, six were sealed in Adamawa for illegal operations. The Operations Comptroller in charge of Kano and […]

Business Oil & Gas Power & Energy

NNPC advises PMS consumers to ignore rumour of imminent price hike

Ihesiulo Grace 12 July 2019 0

Micheal Ajayi The Nigerian National Petroleum Corporation (NNPC) has advised motorists and other petroleum product consumers to ignore the trending rumour of a planned hike in the pump price of petrol. The Premium Motor Spirit, popularly known petrol according to the corporations Group Public Affairs Division Manager, Mr Ndu Ughamadu, is not planned to be […]

Business Oil & Gas Power & Energy

NNPC’s new boss promises to deliver national refineries by 2023

Ihesiulo Grace 9 July 2019 0

Micheal Ajayi The New Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) has promised to deliver all four national refineries within the administration of President Muhamadu Buhari. He made this statement in his Inaugural Address on Monday, July 8. According to him, “We will deliver all our four refineries within the life of […]

Business Power & Energy

System Collapse: BEDC assures consumers on power supply

Ihesiulo Grace 3 July 2019 0

Micheal Ajayi The Management of Benin Electricity Distribution Company (BDEC) has said that the fire incident which occurred on Sunday, Edo state has not affected the supply of electricity to its customers. The inferno which raised at the premises of Transmission Company of Nigeria (TCN) station in Benin according to BDEC was addressed with immediate […]

Business Energy Oil & Gas Power & Energy

Oil market stability: Nigeria restates support for extension of oil production cut

Ihesiulo Grace 2 July 2019 0

Micheal Ajayi Nigeria has confirmed the validity of his stand on the nine-month extension in the oil production cut under the “Declaration of Cooperation’’ which seeks to improve global oil market stability among OPEC members. This was made known on Monday by the Head of the Nigerian Delegation to the 176th Meeting of OPEC, Dr […]

Business Power & Energy

DisCos refute TCN claims on system collapse

Ihesiulo Grace 2 July 2019 0

Micheal Ajayi Following the Transmission Company of Nigeria (TCN) report on system collapse, Electricity Distribution Companies (DisCos) has denied the allegation of it dropping load allocation. The Abuja Electricity Distribution Company (AEDC) General Manager, Corporate Affairs, Mr Oyebode Fadipe, on Monday, debunked the development is “We didn’t drop any load.” He said

Business Energy Power & Energy

Nigerian renewable energy solutions provider, Arnergy closes Series A financing

Ihesiulo Grace 28 June 2019 0

…New capital will fuel commercial growth towards providing energy reliability to customers Michael Ajayi Nigerian distributed utility company, Arnergy, on Thursday, announced that it has raised $9 million in a Series A round of funding led by Breakthrough Energy Ventures with participation from the Norwegian Investment Fund for Developing Countries (Norfund), EDFI

Business Power & Energy

Meter Distribution: DisCos blames low liquidity in sector for poor run

Ihesiulo Grace 28 June 2019 0

…as consumers call for a review on privatisation Micheal Ajayi Abuja Electricity Distribution Company (AEDC), General Manager, Corporate Communication, Mr Oyebode Fadipe has said the pace of metering of electricity consumers is slow because of low liquidity in the sector. Fadipe made this disclosure on Thursday in an audience participatory programme of Radio Nigeria in

Power & Energy

Nigeria power producers sue govt over non-payment of debt

Ihesiulo Grace 8 March 2018 0

Power generation companies in Nigeria, popularly known as GenCos, have sued Nigeria’s central government at a federal court in the country’s capital of Abuja, over alleged non-payment of debt in excess of N1 trillion. In the papers of the suit filed the power companies, according to Businessamlive, they have also accused the government of giving […]

Power & Energy Tech Wellbeing

Toyota displays strength in Dubai, rated ‘king of desert’

Ihesiulo Grace 11 January 2018 0

*Now tourism practitioners’ delight As a mark of global acceptance and recognition of its genuineness, motorists in Dubai, United Arab Emirates (UAE) have described Toyota vehicle models as the best for use in the country due to its agility, reliability and above all, the brand’s low cost of maintenance. In Dubai particularly and in most […]

Headlines News Power & Energy

Nigeria Transmits 5,156MW Electricity, Highest Ever – Official

Ihesiulo Grace 15 December 2017 0

The Transmission Company of Nigeria, TCN, on Thursday disclosed that it recorded new national peak electricity transmission capacity of 5,155.9 Mega Watt, MW, on December 8. The Interim Managing Director of TCN, Usman Gur-Mohammed, made the disclosure at an interaction with journalists in Abuja. Mr. Gur-Mohammed said the new record exceeded previous national peak record

Metro Power & Energy

Lagos Residents Protest 4-Month Power Outage

Ihesiulo Grace 5 December 2017 0

Residents of Ijegun-Imore community in Satellite Town, Lagos State have protested against four months of power outage. Four months of power outage is what residents of Ijegun-Imore community in Satellite Town, Lagos State have had to endure. But now, they are tired of hoping and playing cool with Eko Electricity Distribution Company (EKEDC). Hundreds of […]

Power & Energy

Electricity: Nigerians Must Pay Higher Tariffs – FG

Ihesiulo Grace 28 November 2017 0

The Federal Government has said that Nigerians must pay higher tariffs on electricity. Speaking at the Presidential Villa in Abuja on Monday at the 6th Presidential Quarterly Business Forum for Private Sector Stakeholders, Vice President Yemi Osinbajo described payment of higher tariffs as inevitable. He said: “Listening to questions concerning lower tariffs, we must

Business Power & Energy

FG recovers $64m electricity debt from Int’l customers

Ihesiulo Grace 14 November 2017 0

The Federal Government on Monday, announced that it had recovered 64.6 million dollars electricity debt from its international customers. Minster of Power, Works and Housing, Babatunde Fashola announced this at the 21st monthly power sector meeting in Asaba. Fashola, in a text of his opening remark made available to the News Agency of Nigeria (NAN) […]

Crime News Power & Energy

Senate Summons Fashola, Probes $650m Fraud In Ministry Of Power

Ihesiulo Grace 9 November 2017 0

The Senate, yesterday, mandated its Committees on Power and Public Accounts to investigate the whereabouts of the $650 million balance of the Eurobond that was meant to be with the Transmission Company of Nigeria (TCN) and the Nigerian National Petroleum Corporation (NNPC). It also mandated the committee to invite the Minister of Power, Works and […]

Energy Power & Energy

TCN explains power outage in Lagos communities

Ihesiulo Grace 2 November 2017 0

The management of Transmission Company of Nigeria (TCN) on Wednesday, attributed the in adequate power supply in some communities in Lagos to upgrading of its transformers at Ejigbo and Alimosho Transmission Sub-stations. , the Principal Manager (Public Affairs), TCN, Lagos Region, Mrs. Celestina Osin disclosed this in an interview with the News Agency of Nigeria […]