FG plans FID on Ibot, Ikike, LNG train 7 in 2019
Businessam Staff
April 8, 2019
…As NCDMB presents 80 opportunities worth $100bn The federal government andthe international oil companies, IOCs, plan to take final investment decision, FID, on three projects – ExxonMobil’s Ibot, Total’s Ikike and NLNG Train 7 – before the end of 2019. Simbi Wabote, the executive secretary, Nigerian Content Development and Monitoring Board, NCDMB, who disclosed this […]
State-owned Ibom Power’s 150mw waste away on poor evacuation infrastructure
Ben EguzozieApril 1, 2019
Ibom Power plant, a wholly Akwa Ibom State owned electricity generating firm located in the state’s oil-bearing Ikot Abasi, has seen recent impressive generating capacity, churning out 150 megawatts of electricity into the national power grid. But this sadly appears to be a wasted effort, it has emerged. It was discovered that less than half […]
Africa needs $250 billion to scale up its electricity-Momoh
Bukola OdufadeDecember 20, 2018
Africa requires about $250 billion worth of public private partnership investment to address the power deficit situation on the continent, James Momoh, the Executive Chairman, Nigerian Electricity Regulatory Commission (NERC) has said. He said in order to reach the United Nations’ (UN) target of Universal Access by 2030, the continent will need to add around […]
KEDCO to intensify debt recovery in 2019
Bukola OdufadeDecember 12, 2018
Kaduna Electricity Distribution Company will be more aggressive in its drive to recover all outstanding electricity bills next year in order to bridge its revenue deficit, in an attempt to make enough revenue to meet its obligations. According to a statement by Abdulazeez Abdullahi, the company’s head, Corporate Communications, the company is hoping to at […]
19 firms to bid for Afam, Yola power company, says FG
Agency ReportSeptember 27, 2018
The Federal Government says 19 firms have indicated interest to acquire Afam Power Company and Yola Distribution Company earlier put up for sale. Mrs Amina Tukur, the Head, Public Communications of the Bureau of Public Enterprises (BPE) made this known in a statement on Thursday in Abuja. She noted that two power companies and seven […]
EKEDC opens complaint resolution centres in its branches
Bukola OdufadeSeptember 3, 2018
Eko Electricity Distribution Company (EKEDC) has established first contact resolution centers at its district offices, in a bid to serve its customers better. According to a statement issued by the company, starting from last Saturday September 1, 2018, all complaints would now be directed to and resolved at the customers’ respective district offices. “Only complaints […]
N2.8trn market beckons in Nigeria’s fledgling mini grid electricity
Bukola OdufadeSeptember 3, 2018
With a revenue potential of N2.8 trillion ($8 billion) annually, Nigeria has barely begun to scratch the surface of mini grids development. However, this doesn’t mean that the country is not making some efforts in scaling up its electricity access through mini grids, but it is still lagging behind. Nigeria, according data from the World […]
Local meter manufacturers pushing for higher participation
Bukola OdufadeAugust 20, 2018
The preference for importation of goods and services is still very much prevalent in Nigeria, despite the push by the Nigerian government for its citizens to purchase made in Nigeria products. Even as the country looks forward to the mass metering to be provided by the meter asset providers (MAPs), 70 percent of the 4.7 […]
Core investors in DisCos decry lack of returns on investments
Bukola OdufadeAugust 6, 2018
Nigeria’s electricity investors are yet to reap the returns on their investments five years after privatization. A total of N427billion ($1.2 billion) was paid to acquire 60 percent stakes in the 11 electricity distribution companies (DisCos) in 2013, but the core investors have said they are yet to recover the investments or make profit from […]
Nigeria electricity coys say central bank market stabilization fund leaves power industry worse off
Bukola OdufadeJuly 24, 2018
Nigeria’s electricity distributors, popularly called DisCos, have said that the country’s electricity market stabilization fund (NEMSF) has made the liquidity crisis in the industry much worse as they now find themselves encumbered by debt as it does not provide them with direct financial support. Sunday Oduntan, executive director, research and advocacy of the umbrella body […]