Tuesday , June 15 2021

Power

Nigeria Loses N470 Billion to Gas Flaring

Nigeria Loses N470bn to Gas Flaring

Nigeria lost N470 billion ($1.24 billion) to gas flaring in 2020, data released by the National Oil Spill Detection and Response Agency (NOSDRA) has revealed. The agency disclosed that the amount was lost from the flaring of 354 billion cubic feet (BCF) of gas by oil and gas companies operating …

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FG Subsidises Electricity by N50bn Monthly – Minister

FG Subsidises Electricity by N50bn Monthly - Minister

The Federal Government has been subsidising electricity supply across the country to the tune of over N50bn monthly, the Minister of Power, Sale Mamman, has said. He said the subsidy spendings were because the government was worried by the incessant complaints by ordinary Nigerians over the unavoidable and periodic increase …

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NERC Debunks Claims on Electricity Tariff Hike

NERC Debunks Claims on Electricity Tariff Hike

The management of the Nigerian Electricity Regulatory Commission (NERC) has said there is no 50 per cent increase in electricity tariff. This was made known by Mr Micheal Faloseyi, NERC’s Head of Public Affairs, in a statement in Abuja on Tuesday. Faloseyi spoke against the backdrop in some quarters that …

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IBEDC Implements Revised Service Reflective Tariff

IBEDC Implements Revised Service Reflective Tariff

The Ibadan Electricity Distribution Company Plc (IBEDC) said it has begun the implementation of the revised service-based reflective tariff as approved by the Nigerian Electricity Regulatory Commission (NERC). The new tariff is effective from 1st November 2020. In a statement by the Head Branding and Corporate Communications, Angela Olanrewaju, the …

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FG Budgets N497.13 Billion for Six Million Free Meters

FG Budgets N497.13 Billion for Six Million Free Meters

The Federal Government is to spend between N269.38bn and N497.13bn on the provision of six million free meters to various unmetered power users across the country. Also, findings from separate quarterly reports of the Nigerian Electricity Regulatory Commission on the power sector showed that the number of unmetered customers in …

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Solar Projects to Generate $2Billion Market Opportunities, N7Billion Taxes – CBN Releases Framework

Solar Projects to Generate $2Billion Market Opportunities, N7Billion Taxes - CBN Releases Framework

Central Bank of Nigeria (CBN) yesterday made public the framework for the implementation of the solar connection facility, which it said would create about $2 billion yearly market opportunity. The apex bank also yesterday reiterated that its aggressive deployment of unconventional policies since the outbreak of the COVID-19 was to …

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Nigeria’ll Benefit from Regional Off-Grid Power Project – World Bank

The Programme Manager, Lighting Africa/Nigeria, Allwell Nwankwo, has said Nigeria will benefit from the Lighting Africa-supported Regional Off-Grid Electrification Project, which aims to increase electricity access to households, businesses, and communities through modern off-grid electrification across Western Africa. The Lighting Africa programme is a joint initiative of the International Finance …

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DisCos Condemn NERC’s Silence over Tariff Increase from July 1

The Electricity Distribution Companies (DisCos) have condemned the silence of the regulator of the body, the Nigerian Electricity Regulatory Commission (NERC) on DisCos’ planned July 1 commencement of a new service based electricity tariff regime in the country. The Association of Nigerian Electricity Distributors (ANED) in a statement at the …

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