Unreliable power supply costs Nigeria N10tn yearly- World Bank
The World Bank has disclosed that the unreliable power supply in Nigeria is causing huge economic losses, which is estimated at N10.1tn yearly.
The World...
Bank of China, Sinosure to fund Ajaokuta-Kaduna-Kano gas pipeline
The Federal Government has announced that the Bank of China and Sinosure, a Chinese export and credit insurance corporation, are to fund the $2.6bn...
Electricity has to be subsidised for Nigerians- Senate
The Senate has explained the necessity of electricity subsidy for Nigerians by the Federal Government.
The electricity distribution companies of Nigeria had earlier stated that...
Power grid collapsed 108 times since privatisation- TCN
The Transmission Company of Nigeria (TCN) has revealed that the nation’s electricity grid has collapsed 108 times after the power sector was privatised.
The TCN,...
Increase in electricity tariffs, not a sole decision- Discos
The electricity distribution companies have revealed that the July increase in electricity tariffs was not a decision taken by only the power firms.
They stated...
World Bank approves $750M for Nigeria’s power sector
The World Bank has announced that it has approved a $750m International Development Association credit for Nigeria’s Power Sector Recovery Operation.
This was contained in...
NNPC on tension as PENGASSAN threatens strike
Following the threat of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) that it may embark on industrial action, there was...
NNPC records trading deficit of N9.5Bn in March
The Nigerian National Petroleum Corporation has announced a trading deficit of N9.53bn for March 2020, which is recorded as the corporation’s first operational loss...
Lack of coordination, cause of power sector failure- Senate
The Senate has stated that the nation’s power sector crisis was due to the lack of adequate coordination among the operators in the value...
NBET owe GenCos N119.5Bn for power in three months
The Nigeria Bulk Electricity Trading Plc (NBET) has reportedly failed to pay a total of N119.55bn to 25 power producers in the first three...
