Daily Archives: August 7, 2017

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Poor Electricity Supply Cost us N130bn in the First Half of 2016, Say Manufacturers

Poor Electricity Supply Cost us N130bn in the First Half of 2016, Say Manufacturers

The Manufacturers Association of Nigeria (MAN) says the cost of independent power generation in the manufacturing sector increased by more than 100 percent from N58.8 billion in 2015 to N129.9 billion in 2016. This represents a total increase of N71.13 billion. The development is no thanks to the instability in electricity supply from the national

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FG Completes 1,000 KM Gas Pipeline to Up Power Generation

Determined to push enough gas to the power sector to ensure adequate generation of electricity, the Federal Government has laid and commissioned 1,000 kilometres of major gas pipelines with an additional 470km currently in construction phase, while a further 1,400km is intended for construction before the end of this year. This is coming on the

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Power Ministry Saves FG N119bn Court Judgement Liability

The Ministry of Power, Works and Housing has, through negotiations and compromise, saved the Federal Government a staggering sum of N119,369,520,000 resulting from a judgement entered against it over a litigation from a metering contract awarded by the previous administration in 2003. The Minister of Power, Works and Housing, Mr. Babatunde Fashola SAN, who disclosed

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Global Energy Investment Slumped 12% to $1.7trn in 2016

The world’s total energy investment was $1.7 trillion in 2016, having dropped by 12 per cent from 2015 in real terms and accounted for 2.2 per cent of global gross domestic product (GDP), World Energy Investment 2017 has revealed. The WEI, a publication of International Energy Agency, which was released in July, noted that increase

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Ambode Seeks NERC’s Permission for 3000MW Project to Power Lagos

The Lagos State Governor, Akinwunmi Ambode, on Friday sought a no objection letter from the Nigerian Electricity Regulatory Commission (NERC) for the state government’s Embedded Power Programme, Premium Times reports. He did this when he led some members of the State Executive Council, lawmakers and other critical stakeholders to a meeting at the NERC’s headquarters in Abuja.

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Electricity Generation Losses N11.37bn in Two Weeks

Electricity generation in the country took a downward trend in the last two weeks as generation companies, GENCOS lost about N11.37 billion cumulatively, while power loss amounted to 1,293 megawatts, MW, data obtained from the Nigerian Electricity System Operator, a section of the Transmission Company of Nigeria, TCN, shows. Much of the amount was lost

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