4 days ago
Relevant stakeholders have sought sustainable funding of the power sector by state governments, distribution companies (DisCos), investors and interested parties.
All is not well with electricity distribution companies across the country as the state of the five utility firms, which were taken over by the Federal Government, commercial banks and Asset Management Corporation of Nigeria (AMCON) have little to show off one year after.
The Nigerian Electricity Regulatory Commission (NERC), in its second quarter report for 2023 showed that the Federal Government paid N135.23 billion to subsidise electricity consumption between April and June this year.
The Minister of Power, Adebayo Adelabu, yesterday said privatisation was not the right way to go for the country, rather commercialisation would have been better.
House of Representatives’ Public Accounts Committee (PAC) has summoned Central Bank of Nigeria (CBN) and 11 electricity distribution companies (DisCos) over $321 million and N18.2 billion loans for accelerated transmission distribution interface...
Despite dismal electricity supply averaging a daily load offtake of 3,200 megawatts, the Federal Government and end users, in the first six months of 2023, spent about N686.18 billion on subsidy or bill payment.
One of the major crises rocking the electricity sub-sector may remain for long due to inadequate metering of customers. Indeed, despite the two per cent change in the metering rate, the metering gaps have remained, resulting in about seven million unmetered customers.
Stakeholders in the power sector are pushing for leeway that would ensure a collaborative approach to resolving the challenges facing the power sector amidst poor supply of electricity across the country.
The Minister of Power, Chief Adebayo Adelabu, has met with the management team of power generating companies (GENCOs) and the distribution companies (DISCOs), urging them to improve on their performance.
Despite the despondent state of electricity supply in Nigeria, the Federal Government has spent nothing less than N2.8 trillion to subsidise electricity consumption from 2015 to June, 2023.
Nigerian Electricity Regulatory Commission (NERC) has ordered electricity distribution companies (DisCos) to reimburse customers who have paid for acquisition of meters under the Meter Assets Provider (MAP) initiative.
Nigeria's electricity supply once again faced a significant setback, with power generation plummeting from a peak of 3,594 mega watts around 1:00a.m. yesterday to a mere 42.7MW.