GenCos threaten shutdown over NBET’s alleged highhandedness
Electricity generation companies (GenCos) yesterday said they might be forced to shutdown their plants nationwide over a ‘new policy’ of the Nigerian Bulk Electricity Trading Plc (NBET).
Nigeria’s struggle to go beyond 4,000MW, decades after independence
Two years ago, the publisher of Cable newspaper, Simon Kolawole, recounted his experience of how he picked the May 30, 1988 edition of the Newswatch magazine with a story of how NEPA’s installed generation capacity stood at 4,000 megawatts in 1988.
NERC rates EKO DisCo as best performed distribution company
The Nigerian Electricity Regulatory Commission (NERC) has commended the management of Eko Electricity Distribution Company (EKEDC) for being...
FEC okays CBN intervention for GenCos, N4b for FCT projects
The Federal Executive Council (FEC) has approved the extension of a funding facility by the Central Bank of Nigeria (CBN) for the nation’s electricity...
Long wait for constant power supply amidst recurring grid collapse
Nigeria’s electricity grid, operated from Osogbo in Osun has continued to show the true state of the nation’s privatized electricity industry. Lately, the epileptic performance of the system left untold hardship on homes and businesses with recurring system collapse. The asset, which is managed by Transmission Company of Nigeria (TCN) clearly revealed that the much-awaited…
Government owes generation companies N701b in two years
About N701 billion invoices submitted by the electricity generation companies (GenCos) between the last quarter of 2016 and third quarter of 2018 is yet to be settled by the Nigerian Bulk Electricity Trading (NBET). NBET, managed by Dr. Marilyn Amobi, was set up in 2010 as the administrator of the country’s electricity pool. It buys…
Power sector risks bankruptcy as financial crisis hits N4 trillion
Barring swift intervention from government, the country’s power sector, which was privatised five years ago may soon collapse. No thanks to the N4t financial crisis that has pushed it to the brink of bankruptcy.
GenCos plan shutdown over N701 billion intervention fund
Nigeria's power generation companies are at the verge of shutting down as government fails to provide a N701 billion intervention fund earlier approved by the Federal Executive Council (FEC) to ease liquidity crisis in the sector. Indeed, while some gas companies, including Total, already denied operators gas over inability to pay, Executive Secretary, Association of…
‘Nigeria’s power sector still has many obstacles to overcome’
Ade Yesufu is the Commercial Director, Future Energy Nigeria. In this interview, he speaks on Nigeria’s power sector, the challenges bedeviling it and its attractiveness to investors.