Contrary to the Federal Government motive of bridging the metering gap in the Nigerian Electricity Supply Industry, Lagos residents have alleged Ikeja Electric and CONLOG Meter Solutions Nigeria supply substandard prepaid meters to its customers. This is coming after many struggled and lamented the difficulties in getting a prepaid meter …
Read More »Nigerians Spend N7 Trilllion Annually On Power Generation – Expert
Nigerians, and by extension, their businesses, expend about N7 trillion annually on power generation, a Renewable Energy expert, Mr Stephen Ogboko, has said. Ogboko, also the Executive Director and Chief Operating Officer, Off Grid Tech Solutions Ltd., made this known at a virtual news conference in Lagos. He spoke on …
Read More »CBN to Distribute Four Million Free Prepaid Meters Soon – FG
The Federal Government on Wednesday said the distribution of the four million free electricity prepaid meters pledged by the Central Bank of Nigeria (CBN) would soon begin across the country. The Minister of Power, Mamman Saleh, said this while answering questions from State House correspondents after the weekly Federal Executive …
Read More »Nigeria Loses N470 Billion 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 …
Read More »78% Nigerian Power Consumers Get Less than 12-hour Daily Electricity Supply
A total of 74 per cent of power users in Nigeria are dissatisfied with the supply of electricity across the country, the World Bank has said. It also stated that while 93 per cent of metered power users paid their bills regularly, 78 per cent of electricity consumers in Nigeria …
Read More »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 …
Read More »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 …
Read More »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 …
Read More »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 …
Read More »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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