Nigeria votes N21bn for free electricity metres to citizens
Post AMUGE
June 24, 2024
Business a.m. Nigeria’s central government in Abuja, the country’s political capital, has taken a significant step in addressing the country’s long-standing electricity metering issues by allocating N21 billion for the Presidential Metering Initiative. The initiative aims to bridge the nation’s vast metering gap by providing electricity metres at no cost to unmetered power users across […]
World Bank, AfDB strike partnership to boost electricity access for 300 million Africans
Post AMUGEApril 19, 2024
Business a.m. The World Bank and the African Development Bank (AfDB) have joined forces in an initiative to combat Africa’s energy poverty crisis by increasing access to electricity across the continent. The landmark partnership aims to empower at least 300 million people with reliable and affordable power supply by 2030, improving living standards and boosting […]
Nigerians muster robust outcries against new electricity tariff hike
Post AMUGEApril 9, 2024
ONOME AMUGE As the Naira continues to gain ground in the parallel market, it would be easy to assume that things are getting better for Nigerians. However, this is far from the reality for many who are still grappling with the effects of rising inflation and a weakened economy. The latest news to hit the […]
NERC says new electricity tariff will cut 2024 subsidies by N1.14trn
Post AMUGEApril 4, 2024
Business a.m. The Nigerian Electricity Regulatory Commission (NERC) has announced that the newly approved electricity tariffs for 2024, particularly the 245 per cent increase in tariffs for Band A customers, are expected to result in a reduction of subsidies by approximately N1.14 trillion. Musliu Oseni, the vice chairman of the NERC, who announced the increase […]
NERC ups tariffs to N225/KWh for Band A electricity consumers
Post AMUGEApril 3, 2024
Business a.m. The Nigerian Electricity Regulatory Commission (NERC), with the backing of the federal government, has approved a 245 per cent increase in electricity tariffs for Band A customers. Under the new policy, customers in this category will now pay N225 per kilowatt hour, a significant increase from the previous rate of N66. Musliu Oseni, […]
Geregu Power closes N40.1bn corporate bond issuance, Nigeria’s largest by a GenCo
Habeeb AdamuJuly 29, 2022
By Habeeb Adamu. Geregu Power Plc, a power company primarily engaged in the generation and sale of electric power in Nigeria, has announced its successful issuance of a N40.085 billion Senior Unsecured Bonds under its N100 billion multi-instrument issuance programme. The transaction, which represents Geregu’s debut bond issuance in the debt market, is the largest […]
Power minister’s 18,000mw capacity whitewash fails to achieve goal
Businessam StaffMarch 14, 2022
BY: Olusola Bello. The federal government claims that the country now has an installed electricity capacity of 18,000 megawatts with 8,000 megawatts of daily generation. This claim has, as expected, roused the attention of and attracted comments from industry operators. The claim is coming amid complaints of terrible supply situations across the country with a […]
Niger’s Zungeru hydroelectric plant to deliver first MW in December
Mike OchonmaMay 6, 2021
MIKE OCHONMA Niger state government says that the first turbine of the plant will be operational in December 2021. The facility built in west-central Nigeria will have a capacity of 700 MW following an inspection visit to the site of the Zungeru hydropower project by the government officials and other technical team with knowledge […]
Hike in electricity tariff imminent as NERC sets to conclude extraordinary review
Wale AmeenApril 27, 2021
Wale Ameen Online Editor Nigerians may be in for some tougher times ahead as there is an imminent increase in electricity tariff soon. This is in view of the move by the Nigerian Electricity Regulatory Commission to commence the process for the July 2021 Minor Review of the Multi Year Tariff. This is contained […]
Explosion at TCN’s station plunges Port Harcourt into power outage
Online EditorApril 15, 2021
… Businesses count losses in millions Ben Eguzozie, in Port Harcourt A massive explosion at a transformer of Transmission Company of Nigeria’s (TCN) transmission station in Port Harcourt, Rivers State capital has plunged most parts of the Port Harcourt metropolis into severe power outage. Management of TCN said its engineers were working to repair the […]