International Finance Corporation (IFC), a member of the World Bank Group has announced its partnership with the DFID, aimed at facilitating the deployment of off-grid and embedded solar systems in commercial and industrial sectors in the West African country. The IFC announced in a statement explained that the ultimate goal is to help corporates and SMEs to have better and … Read More
Only Companies Interested in Electricity Will Get Coal Mining Licenses – FG
The Federal Government, yesterday, said that coal mining licences would be issued only to companies that are interested in generating electricity from coal. It also declared that it has not concessioned the Ajaokuta Steel Company, and that it is currently undertaking a technical audit of the facility to determine structures that are on site. Speaking at a forum in Abuja, … Read More
FG Stops Customers From Buying Transformers
The federal government has ordered electricity Distribution companies (Discos) to stop customers from buying transformers, saying that is the Discos’ responsibilities. The Minister of Power, Works and Housing, Babatunde Fashola, issued the order when he received the new Managing Director of Abuja Electricity Distribution Company (AEDC), Mr Ernest Mupwaya, yesterday. He said: “Private purchase of transformers must stop because that … Read More
CBN to Sanction Banks Over Power Fund
Deposit Money Banks (DMBs) found to be frustrating the electricity power intervention by the Central Bank of Nigeria (CBN) under the Nigeria Electricity Stabilisation Facility (NESF) are to face severe sanctions, including removal from participation, the apex bank has warned. The CBN had made over N200 billion available to enable power Generation Companies (GenCos) and Distribution Companies (DisCos) have access … Read More
Nigerians Spend N3.5 Trillion Generating Their Own Electricity Yearly- Sahara Group
Due to irregular supply of public electricity, about N3.5 trillion ($21.9 billion) is spent yearly by businesses, families and others in Nigeria to buy fuel for power generation. Disclosing this yesterday at the ongoing 2016 Huawei Connect conference in Shanghai, China, the Business Leader (Distribution), Sahara Group, the firm with majority stakes in Ikeja Electricity Distribution Company, Rotimi Onanuga, said … Read More
Transmission Company of Nigeria to Complete 22 Projects This Year
Transmission Company of Nigeria (TCN) has said it target the completion 22 critical projects captured in the 2016 Federal Government Budget before the end of the year. The Managing Directors and Chief executive of TCN, Engr. Abubakar Atiku, who stated this in a press briefing in Abuja, noted that resolve is part of efforts to meet President Muhammadu Buhari’s aspiration … Read More
Challenges of Transforming the Nigerian Power Landscape – PwC
Nigeria has about 13Giga Watt (GW) of electricity generating capacity, a transmission capacity of 5GW and distribution that hovers between 3.5 and 4.2GW. Currently, natural gas accounts for more than 80% of Nigeria’s generating fuel needs. About 30% increase in available generation is possible if the gas constraints are resolved. Natural gas is set to become the leading fossil fuel … Read More
Power: Gas Dependency, Not The Way To a Secure Future
The Federal Government of Nigeria has said that sole-reliance on gas cannot solve the country’s existing electricity challenges. This statement was made by the Acting Chairman of Niger Delta Power Holding Company (NDPHC), Chinedu Ugbo, on behalf of the Minister of Power, Works And Housing, Babatunde Raji Fashola, during a conference in Lagos State, Business News reported. According to Ugbo, … Read More
Nigeria: Stakeholders Identify Challenges of Gas-to-Power Initiative
The availability of power is an unavoidable catalyst to boost industrial activities for economic development.Nigeria’s electricity supply is dismal owing to institutional, legal, regulatory, gas pipeline vandalism and capital challenges. Despite having a gas reserve of over 190 Trillion Cubic Feet (TCF) with a proven reserve of 187 TCF, the abysmal generation of less than 4,000 megawatts (MW) of electricity … Read More
Renewable Energy Development in Nigeria
Nigeria’s renewable energy division is on the rise as multiple agreements for new clean power plants are being signed to enhance the country’s energy generation supply. Earlier this week, independent solar power producer Scatec Solar contracted a 20-year Power Purchase Agreement with the Nigerian Bulk Electricity Trading Plc (NBET) to develop the 100MW Nova Scotia Power plant in Jigawa state. … Read More
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