Tag Archives: Power Sector

The daily financial losses in Nigeria’s power sector since the beginning of this year have risen to N201.3bn, findings from the Office of the Vice President showed on Wednesday. Data from the Advisory Power Team in the Vice President’s office in Abuja showed that the N201.3bn loss accumulated between January 1 and June 5 this year. It was also gathered …

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Between January 1 and May 5 this year, the power sector lost about N154bn as a result of the unavailability of gas, distribution and transmission infrastructure, as well as water reserve challenges, the Federal Government has said. A document on Nigeria’s power sector performance put together by the Advisory Power Team at the Office of the Vice President and obtained …

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President, African Development Bank, Dr Akinwumi Adesina says the bank would invest $12bn in the power sector in Africa in four years with the goal of leveraging on the aviation sector. Adesina said the aviation sector was very important to the continent but that it could not operate in the dark. He said the sector was very important to Africa …

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The Minister of Power Works and Housing, Babatunde Fashola, has called on the Federal Government to extend its ‘whistleblowing’ policy to the power sector to curb energy theft. Fashola made the appeal in Enugu at the 16th Power sector monthly meeting, sponsored by the Niger Delta Power Holding Company. He said that available statistics revealed huge energy theft by Nigerians, adding …

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As the nation grapples with inadequate electricity supply, the power sector suffered a loss of 2,746 megawatts (mw) and N34.60 billion, in the month of March due to system collapse and gas constraints, according to the daily operational report of the Nigerian Electricity System Operation obtained by Sweetcrude. This shows an improvement over the 4,276mw loss recorded in February, but …

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Just a day after U.S President, Donald Trump had a phone conversation with Nigeria’s President Muhammadu Buhari, Power Africa, an initiative by the US government to light up Africa, on Tuesday said it was planning to invest about one billion dollars on the power sector in Nigeria, the programme’s coordinator, Mr Andrew Herscowitz said. Herscowitz announced this in Abuja at …

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Investors in the nation’s power sector have called for the settlement of N50 billion owed them, while also calling for the introduction of a realistic tariff structure, reflective of the current rate of inflation and foreign exchange rate. The Chairman of Heirs Holding/Transcorp Power Ltd, Mr. Tony Elumelu, speaking Tuesday at a two-day interactive dialogue/workshop on the Nigerian power sector, …

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Senate President Bukola Saraki on Tuesday criticised how the power sector was privatised, saying it was sold to individuals who had no idea about how to run it.  He said the mistakes of past governments “borne out of ignorance, selfish interests and fraud”, brought Nigeria to this point. Saraki said this at a workshop on power sector organised by the …

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Senate President Bukola Saraki says the privatisation of the power sector has failed. Saraki said this on Tuesday in his message at the opening session of the Senate, while also decrying the policy inconsistencies that have continued to challenge the business environment. He said, “Before we left for the break, myself, a select few of us and stakeholders in the …

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