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Wednesday, September 23, 2020

Power: CBN directs banks to gurantee NBET, TCN

By Mustapha Sumaila Abuja, Aug 25, 2020 (NAN) The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMB) to provide bank gurantees to Nigeria Bulk Electricity Trading (NBET) and Transmission Company of Nigeria (TCN) on behalf of Distribution Companies (DISCos). The CBN gave the...

Power sector reform: $6.15bn grant will improve electricity supply — minister

By Constance Imasuen Abuja, Aug. 25, 2020 The Minister of Power, Mr Sale Mamman says the 6.15 billion dollars (about N2.373 trillion) recently secured by the Federal Government for the power sector will improve electricity supply in the country. Mamman said this in a statement...

No free electricity anywhere in the world, PHED urges customers to settle bills

By Desmond Ejibas Port Harcourt, Aug. 20, 2020 The Port Harcourt Electricity Distribution Company (PHED) on Thursday appealed to its customers to pay their electricity bill, insisting that electricity was no longer a social service. The PHED Managing Director, Dr Henry Ajagbawa, made the appeal...

Nigeria’s dilapidated power sector catching investors attention amid Siemens overhaul plans

By By Tope Alake and Anthony Osae-Brown Company is rebuilding Nigeria’s power transmission system German lenders show interest in funding Nigeria project Siemens AG’s overhaul of Nigeria’s electricity grid is attracting interest from private companies seeking to invest in power production, the head of the German...

25,000 MW electricity contract: Siemens to train DISCOs, stakeholders

By Emmanuel Afonne Abuja, July 30, 2020 German multinational conglomerate company, Siemens, has concluded plans to train electricity Distribution Companies and other electricity stakeholders in the country. Siemens in a statement on Thursday stated that 11 DISCOs, Transmission Company of Nigeria (TCN), and regulators would...

Israel, Nigeria sign bilateral agreement on green energy

By Fortune Abang Abuja, July 29, 2020 The State of Israel and Nigeria on Wednesday signed bilateral agreement in the field of green energy development. The agreement was outcome of a closed door meeting between Mr Yotam Kreiman, Deputy Head of Israeli Mission to Nigeria,...

Nigeria Approves Funding Deal with Siemens to Revamp Dilapidated Power Infrastructure

Nigerian President Muhammadu Buhari approved counterpart funding for a deal that will see Siemens AG upgrade the nation’s dilapidated power infrastructure. Nigeria, Africa’s most populous nation, last year contracted the German engineering company to rehabilitate and expand its electricity grid. Only about two-thirds of Nigerians...

Nigeria’s 1st commercial undergrid minigrid project powers Mokoloki community

By Yunus Yusuf Lagos, July 22, 2020 Rocky Mountain Institute (RMI), Ibadan Electricity Distribution Company (IBEDC), and Nayo Tropical Technology (Nayo Tech) have entered into partnership to bring Nigeria’s first rural commercial undergrid minigrid online. Mr John Ayodele, Chief Operating Officer of IBEDC; Anayo Okenwa...

Senate seeks share purchase review of power agreement with Azura Power Plant

By Naomi Sharang Abuja, July 22, 2020 The Senate on Wednesday, called for a review of the Share Purchase Agreement (SPA) between the Federal Government and Azura Power Plant, saying the agreement was a drain on the nation’s resources. The upper chamber passed the resolution as...

BEDC explains why Ondo South remains in blackout for 10 years

By Segun Giwa Akure, July 22,2020 The Benin Electricity Distribution Company (BEDC) has said that the acute power supply limitation and the inability to connect more communities in Ondo South to the national grid was due to a damaged breaker at the Ondo 132/33KV...
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