Federal Government should increase the number of Power Generation plants- Experts

To increase access of Nigerians to electricity, operators in the power generation segment have urged the Federal Government to intensify the penetration of embedded power plants in the country. Embedded generation can be described as the small scale production of power connected within the electricity distribution network, located close to the place of consumption. The[...]

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Discovery: 240,000 illegal consumers in Power Disco Network

The Abuja electricity distribution company (Disco) which distributes electricity to the Federal Capital Territory (FCT), Kogi, Nasarawa and parts of Niger states has reported that up to 240,000 people are illegally connected to its network, and consuming electricity unlawfully. The Disco also disclosed that in nine of the 32 areas of its network, where it[...]

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Fashola debunks the myths of Borrowing and Schools us on it necessity

Babatunde Fashola, minister of works and housing, has described some of the critics of the federal government’s borrowings as “backward economists”. In July, the Debt Management Office (DMO) released figures which showed that Nigeria’s debt increased by N560 billion in the first quarter of 2019. According to the DMO, the total debt stock as of[...]

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Chinese Lender to Finance NNPC Pipeline Project with over 2billion

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has disclosed that the corporation has agreed to a $2.5 billion financing with a Chinese lender for pipeline project in Nigeria. Kyari also said that the attacks on Saudi Arabia’s crude processing plant and fields can be a “big challenge” for[...]

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Nigerian Power Generation has dropped by over 3000 MegaWatts!

The continued instability of Nigeria’s national electricity grid has reportedly forced eight power generation companies (Gencos) of the National Integrated Power Projects (NIPPs) to cut down their average expected daily power production levels from a whopping 4694 megawatts (MW) to a mere 493MW, an operations status report obtained yesterday by THISDAY has disclosed. Exclusively obtained[...]

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Federal Government to renovate refineries and meet 2023 target

To achieve its 2023 target of ensuring local refineries operate optimally, the Federal Government has said it has begun the overhauling of the facilities, commencing with the Port Harcourt refinery. Giving itself a three-year deadline, the Nigerian National Petroleum Corporation (NNPC), said it plans to review operations of the refineries, support condensate plants, and open[...]

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A fuel management instrument has been introduced for SMEs by E360!

Energy360 Africa, a data analytics and technology solutions company that deals in technologies for the downstream oil and gas sector, has unveiled new fuel management systems to help small, medium and large businesses optimise fuel consumption. The new technology includes Smart Eye, which is an automatic tank gauging system that can be utilized by fuel[...]

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Scheme or Scam, the Nigerian Prepaid Meter!

A year ago, the electricity regulatory body introduced a regulation directing power distribution companies (DisCos) to supply consumers with more prepaid meters. How well has this worked? TheCable, in an investigation spanning across 33 communities in 10 states, finds out that power consumers think whole scheme is a scam. Caroline Aku, a housewife, lives in[...]

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Sovereign fund is commiting N50 billion to boost power generation

A subsidiary of the Nigeria Sovereign Investment Authority (NSIA), InfraCredit, has opened a N50 billion 600MW Shiroro Hydro Electric Infrastructure Green Bond to boost the plant and power generation nationwide. Launched in partnership with GuarantCo, KfW Development Bank and Africa Finance Corporation, the deal is covered by the North South Power Company Limited’s (NSP) N8.5[...]

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