Energy

Nigeria Clears 120M Of Gas Debt Amid Worsening Power Blackouts

Nigeria Clears $120m of Gas Debt Amid Worsening Power Blackouts

To mitigate the widespread power outages plaguing the country, the Nigerian Federal Government has made a significant dent in its outstanding gas debts, paying $120 million of the $1.3 billion owed to gas companies. This payment is a crucial step towards resuming regular gas supply to the nation’s gas-fired power plants, which have been severely […]

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Nigerias Zungeru Plant Concession To Yield 2.1Tn In 30 Years

Nigeria’s Zungeru Plant Concession to Yield $2.1tn in 30 Years

The Nigerian government is set to receive a whopping $2.1 trillion over the next 30 years from the concession of the Zungeru hydropower plant, as reported by Channels Television. This financial boon comes from an agreement with the concessionaire Penstock Limited, which will manage the 700 MW facility, contributing $70 million annually to the federal

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Presidential Villa 86 Mdas Face Power Cut Over Unpaid N47Bn

Presidential Villa, 86 MDAs Face Power Cut Over Unpaid N47bn

The Abuja Electricity Distribution Company (AEDC) announced on Monday its plan to disconnect the electricity supply to the Presidential Villa along with 86 other Federal Government Ministries, Departments, and Agencies (MDAs) due to outstanding debts totalling N47.195 billion as of December 2023. The AEDC’s report highlighted significant debtors, including the Chief of Defence Staff –

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14 Ogun Communities Face Blackout Due To Technical Fault Says Ibedc

14 Ogun Communities Face Blackout Due to Technical Fault, Says IBEDC

A technical malfunction has resulted in a power outage affecting no fewer than 14 communities in Ogun State, as reported by the Ibadan Electricity Distribution Company (IBEDC). The company’s spokesperson, Busolami Tunwase, confirmed the incident, attributing the blackout to a defective breaker on the Ijoko 33kV feeder, which disrupted electricity supply in parts of the

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Fg To Cut Operating Funds For Underperforming Electricity Distributors1

FG to Cut Operating Funds for Underperforming Electricity Distributors

The Federal Government, through the Nigerian Electricity Regulatory Commission (NERC), announced on Monday that power distribution companies (Discos) failing to meet set performance standards in the Nigeria Electricity Supply Industry would face a 50% reduction in their operating expenditures. This decision was communicated during the 1st NESI Stakeholders Meeting of 2024 in Lagos, where each

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Fg Reports 7.1 Million Customers Overcharged By Discos1

FG Reports 7.1 Million Customers Overcharged by DISCOs

Between January and September 2023, power distribution companies (DISCOs) in Nigeria overbilled approximately 7.1 million unmetered electricity consumers, accumulating over N105 billion in excess charges. This finding was revealed through an analysis conducted by the Nigerian Electricity Regulatory Commission (NERC), a Federal Government agency overseeing the country’s electricity sector. The analysis, part of the Regulatory

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Nerc To Penalize Discos For N105Bn Overbilling1

NERC to Penalize DISCOs for N105bn Overbilling

On Friday, the Nigerian Electricity Regulatory Commission (NERC) announced it will impose a financial penalty of N10,505,286,072 on the country’s 11 power distribution companies (DISCOs) during the upcoming tariff review. This move is a sanction for the DISCOs’ failure to adhere to the estimated billing cap for unmetered customers, resulting in an overcharge of approximately

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Nigerias Power Grid Recovers To 3000Mw Tcn Completes Transformer Upgrades

Nigeria’s Power Grid Recovers to 3,000MW; TCN Completes Transformer Upgrades

Following a nationwide collapse on Sunday, Nigeria’s national power grid saw a significant recovery on Monday, with electricity generation stabilizing between 3,000 megawatts and 3,707.91MW. The initial drop to 59.9MW on Sunday led to a widespread blackout, attributed to a collapse managed by the Transmission Company of Nigeria (TCN), a Federal Government agency. TCN reported

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Nigerias Power Supply Falls 3 In Third Quarter Says Nbs1

Nigeria’s Power Supply Falls 3% in Third Quarter, Says NBS

The National Bureau of Statistics (NBS) has reported a 3% decrease in Nigeria’s electricity supply during the third quarter of 2023. The supply dropped from 5,909.83 Gigawatt hours (GWh) in the second quarter to 5,731.60 Gwh in the third quarter, marking a reduction of 178.23 Gwh. Despite this quarterly dip, the report, titled ‘Nigeria Electricity

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