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…
FG committed to N701b power generation intervention fund
The Ministry of Power, Works and Housing has pledged commitment to pay N701 billion Payment Assurance fund to power Generation Companies (GenCos).
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…
Reps to reopen alleged $1.348b power fraud probe
The House of Representatives could reopen the probe into an alleged $1.348 billion power sector fraud levelled against General Electric (GE) and Rockson Engineering Nigeria Ltd.
DisCos’ debts to NBET, market operator hit N103 billion
The Electricity Distribution Companies (Discos) in Nigeria are indebted to the Nigerian Bulk Electricity Trader (NBET), and Market Operator (MO) to the tune of N103billion, according to the Nigerian Electricity Regulatory Commission recent (NERC) report released this week. DisCos were issued an invoice totalling N147billion for energy received from NBET and for the service charge…
FG okays N72 billion to boost electricity, decries poor distribution networks
The Federal Government has approved N72 billion to enable Electricity Distribution Companies (DisCos) step up electricity generation.
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.