GENCOs
12 Dec
The Nigerian electricity sector teeters on the edge of bankruptcy, posing significant risks to other critical sectors of the economy following yesterday’s collapse of the national electricity grid—the 12th recorded failure in 2024.
11 Dec
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Wednesday denied claims that it directed wholesale gas suppliers to stop supplying gas to power-generating companies (GENCOs) over payment defaults. The agency, in a statement said the report is false and baseless, emphasising that no such directive was given. NMDPRA said the misinformation came from…
4 Dec
The Nigerian Electricity Regulatory Commission (NERC) said the country’s metering gap remains significant despite the installation of 3.03 million meters since the privatisation of the sector in 2013.
3 Dec
Lagos and over 10 states pushing to realise the opportunities in the Electricity Act that enables sub-national governments to generate and distribute electricity may face the transfer of the burden of electricity subsidies
22 Nov
Nigeria’s 21 active electricity generation plants on the nation’s electricity grid may have lost nothing less than N229.6 billion to the grid collapses that occurred in 2024, a development which is worsening the liquidity crisis in the power sector.
7 Nov
The National Orientation Agency (NOA) has attributed the frequent collapse of the national grid to the inability of Electricity Distribution
30 Oct
The Transmission Company of Nigeria (TCN) has solicited the support of the Nigerian Air Force in conducting unmanned aerial
29 Oct
The House of Representatives on Tuesday stepped down a motion calling on the Federal Government to sanction power Generation Companies (GenCos) and the Nigerian Electricity Regulatory Commission (NERC) over the recent blackout in some parts of the North. The stepping down followed a debate on the motion of urgent national importance sponsored by Yusuf Umar…
28 Aug
Market risks arising from the transition of the Nigerian Electricity Supply Industry (NESI) towards a bilateral market may further compound electricity challenges in Nigeria unless concerted efforts are taken.
21 Aug
The Federal Government has settled N205 billion out of the N1.3 trillion it owes electricity generation companies (GenCos), a decision aimed at alleviating the persistent liquidity crisis in the power sector.
20 Aug
The federal government has said it has paid N205 billion from the N1.3 trillion debt owed to generation companies (GenCos) in order to boost liquidity in the power sector. Minister of Power, Adebayo Adelabu, revealed this during an oversight visit by the house of representatives committee on power. On February 15, while arguing for the…
7 Aug
• Stranded electricity may worsen amid weakening plants The restriction of electricity export to neighbouring African countries may defeat attempts being made by the Economic Community of West African States (ECOWAS) to implement the West African Power Pool (WAPP) and Nigeria’s drive to increase foreign exchange (FX) earnings. While the power sector was privatised…
Latest
31 mins ago
Barely two weeks to the end of the year, Nigeria’s hope of achieving 95 per cent financial inclusion by December may not be realised as emerging socio-economic challenges, including escalating digital fraud, rising mistrust and deepening poverty slow the process.
41 mins ago
Former Director-General of Peter Obi Presidential Campaign Organisation, Dr Doyin Okupe, has said the party’s inability to build an enduring structure after the 2023 elections is responsible for the gale of defections from the party.
42 mins ago
The National Pension Commission (PenCom) said only 18,000 pensioners are yet to receive pension accrued benefits despite the Federal Government’s N44 billion provision between March and September 2023.
46 mins ago
Heavy transactions in the shares of banks, last week, lifted the volume of shares traded, as a turnover of 2.5 billion shares worth N91.3 billion was recorded in 51,406 deals on the floor of the Exchange.
1 hour ago
Accusing fingers were pointed at President Bola Tinubu and the policies of the ruling All Progressives Congress (APC) government yesterday, as critics claimed they were responsible for the recent deadly stampedes that caused the death of dozens across the country.
2 hours ago
Hareter Babatunde Oralusi, an impact investment advocate and Executive Chairman of the Nigerian Capital Development Fund (NCDF)
2 hours ago
The statement attributed to the Independent Corrupt Practices and Other Related Offences Commission (ICPC), that its personnel encounter security risks in their bid to probe high-profile corruption cases is unexpected and constitutes a slap on the government’s much-touted commitment to fight corruption.
2 hours ago
Socio-Economic Rights and Accountability Project (SERAP) has urged the Senate President, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas to cut the proposed budget of N9.4 billion on travel, refreshments and meals for the Presidency, and the proposed N344.85 billion for the lawmakers.
2 hours ago
Despite efforts to tackle unending cost-push inflation affecting building materials prices, many investors and property developers are being forced to abandon their housing projects due to the cost of financing, logistics and labour.