The Nigerian government, between 1999 and 2010, reportedly spent over N4.7 trillion on power, but the country remained in darkness. Eight years later, Jonathan and Buhari administrations invested another N1.164 trillion into the sinkhole through capital releases, but homes and…
The Nigerian Electricity Regulatory Commission (NERC) recently notified eight power distribution companies (DisCos) on its intent to cancel their licences in 60 days after they accumulated N30.1 billion energy invoice debts for July 2019. The Federal Government had unbundled the…
There is a crisis in the Nigerian Bulk Electricity Trading (NBET) because of the failure of the Managing Director (MD), Dr. Marilyn Amobi, to reinstate two senior staff of the agency she “unilaterally” sanctioned over alleged infractions. Despite the intervention…
As the federal government plans disbursement of a N600 billion power sector intervention fund, Generation Companies (GenCos) have approached the Nigerian Electricity Regulatory Commission (NERC) to intervene on the imposition of a 0.75 percent administrative charge on them by the…
The speaker of the House of Representatives, Femi Gbajabiamila, yesterday declared open, a public hearing of the House Ad hoc Committee constituted to investigate abandoned power projects and review Federal Government’s expenditure in the sector since 1999. Read more:
The Commercial Court in London, United Kingdom, yesterday granted Nigeria’s request to stay execution of a judgment which favoured Process and Industrial Developments (P&ID) to seize Nigeria’s assets worth $9.6bn over a contract scandal. Read more:
President Muhammadu Buhari said yesterday that the Process and Industrial Developments Limited (P&ID) contract with the Nigerian government was a scam aimed at cheating the country of billions of dollars. Read more:
Vice President Yemi Osinbajo has said the federal government has injected about N1.5 trillion intervention fund into the power sector in the last two years, even as frequent outage persists across the country. Read more:
Power cut is imminent across the country as 24 thermal power Generation Companies (GenCos) are mulling a force majeure action to quit business over a 0.75 percent ‘unregulated’ administrative charge for gas supply transactions being introduced by the Nigerian Bulk…
The 215-Megawatt (MW) Kudenda Thermal Power Plant in Kaduna State is yet to take off 10 years after contract for it was awarded. The non-take off of the plant, a project of the Federal Ministry of Power, is despite the…
