Liquidity crisis persists despite N701bn power sector intervention fund
Despite approval by the Federal Executive Council (FEC), for a N701-billion Central Bank of Nigeria (CBN) facility to ameliorate liquidity crisis in the power sector, funding challenges remain a big issue.
Tougher times await DISCOs, experts predict
Industry experts have predicted tougher times for the nation’s electricity distribution companies (Discos), contending that the problem was not just about huge financial shortfall...
NBET’s January indebtedness to Gencos tops N42 billion
The indebtedness of the Nigerian Bulk Electricity Trading Plc (NBET) to electricity Generation Companies (Gencos), has reached N42.15 billion as at January 2018.
Power sector and the blame game
The power sector is no exception from the ups and down recorded in 2017. The year started with a generally low mood in terms of the quantum of power generation available for distribution from none to a peak of 5,222MW.
Buhari presents N8.612 trillion budget for 2018
President Muhammadu Buhari yesterday presented to a joint session of the National Assembly a budget estimate of N8.612 trillion for the 2018 fiscal year.
Senate to probe alleged $1.35b power sector fraud
The Senate is set to commence an investigation into an alleged $1.35 billion fraud in the power sector.
NBET pays Gencos N12.69 billion electricity invoices in February
The Nigerian Bulk Electricity Trading Plc (NBET) said it paid about N12.69 billion to electricity generating companies (GenCos) in the country out of the total invoices of ₦ 37.38 billion for energy delivered in February.
FG plans to further restructure electricity sector
The Federal Government yesterday said it would embark on a broader restructuring of the electricity sector to achieve development in renewable energy.