POWER

Sequel to its development finance initiative, the Central Bank of Nigeria has agreed to leave interest rates at five per cent per annum for critical sectors such as power and manufacturing industries until March 2023. The decision followed the resolution of the Monetary Policy Committee to increase benchmark interest rate to 13 per cent from 11.5 per cent. Rate increases ...

A research conducted by experts in the power sector has revealed why there has been a consistent lapses in electricity generation and distribution chain in Nigeria, despite various intervention programmes. In the research detailing the challenges still plaguing Nigeria’s electricity distribution companies (DisCos), low system efficiencies or high Aggregate, Technical and Commercial, ATC&C, losses, ageing infrastructure, poor customer relationship management, ...

Manufacturers decry the soaring cost of production which has reached all time high of 45 percent majorly occasioned by their spending on power generation. According to the manufacturers they have spent N425 billion on alternative energy sources such as gas, low-pour fuel oil, diesel, and petrol between 2017 and 2021. This is coming from the energy expenditure of members of ...

The Director-General, National Power Training Institute (NAPTIN), Mr Ahmed Nagode, says the institute is collaborating with the Rural Electrification Agency (REA) to develop human capacity in renewable energy. Director-General, National Power Training Institute (NAPTIN), Mr Ahmed NagodeNagode said this in Abuja He said that the decision of both organisations to collaborate was that of the Minister of Power, Mr Abubakar ...

As part of its Batch 4 Corporate Social Responsibility (CSR) projects, TotalEnergies and partners have inaugurated projects in the states of Borno, Benue, Kaduna, Gombe, Delta and Anambra. A statement issued on the company’s website said the projects ranged from fully equipped solar-powered science laboratory, water treatment plants to solar-powered ICT centre and a borehole. The statement said that while ...

Schneider Electric has identified Managed Power Services as the next big thing in the power sector when the leader in energy management automation encouraged its partners, professionals and end users to take advantage of the next wave of growth opportunity in the power sector. Speaking to the press recently at a media parley, Oluwaseun Oloyede, Secure Power Leader for Anglophone ...

The Managing Director/CEO of Rural Electrification Agency ,Ahmad Salihijo Ahmad,has emphasized the need for state governments to support his agency in deepening rural areas . He said such support includes fast-tracking land approvals, and other associated permits and approvals, provision of data of unserved & underserved communities within the States, creating an enabling environment for private sector developers and providing ...

Worried by the growing dismal outlook of electricity supply in Nigeria, the Federal Government, through the Rural Electrification Agency (REA) and the country’s 36 states are deploying alternatives through mini and off grid solutions. With repeated collapse of the country’s only national grid, the World Bank and the UK government are also rooting for the plan, insisting that the move ...

THE Nigerian Electricity Regulatory Commission (NERC) on Thursday, released documents confirming tariff increase approval for six Distribution Companies (DisCos) which became effective in January 2022.  The document ORDER NO: NERC/299/2021 titled: the multi-year tariff Order 2021 was dated 29th December, 2021 and jointly by the Commission’s Chairman, Sanusi Garba and Vice Chairman, Musiliu Musiliu Oseni.  The DisCos are Port Harcourt ...

Residents of Apapa road and Ebutte Metta, in Lagos State, have protested a 32- day power outage by Eko Electricity Distribution Company (EKEDC), Lagos. The residents, under the aegis of Concerned Community Development Associations (CDAs), staged a peaceful rally on major streets and submitted a protest letter to the EKEDC District Manager in the area. The protesters carried placards with ...