Daily Archives: August 9, 2017

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Report Says Manufacturers Spent N129.95bn on Independent Power in 2016

Report Says Manufacturers Spent N129.95bn on Independent Power in 2016

A new report has said that the instability in electricity supply from the national grid has continued to make businesses to look inwards through independent power generation, The Punch reports. According to the survey conducted by the Manufacturers Association of Nigeria (MAN), expenditure on self-generated energy in the manufacturing sector increased from N58.82bn in 2015 to N129.95bn

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Forte Oil Seeks Upstream Acquisition Opportunities, Diversification into Renewables

In a bid to boost revenue and profitability for shareholders, the Managing Director and Chief Executive of Forte Oil, Akin Akinfemiwa, said Forte Oil would be exploring partnerships and joint ventures for local refining of petroleum products among other segments of the energy value chain. Addressing stockbrokers and investors at the “Facts Behind the Figures,”

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AEDC Probes Electrical Accident in Bosso, Niger State

Worried by increasing electrical accidents, the Abuja Electricity Distribution Company, AEDC, has inaugurated a panel to investigate the circumstances surrounding the electrical accident which occurred, last week in Angwan Biri, a neighbourhood of Minna, the Niger State. The AEDC mandated the six-man investigative team to establish the root cause of the incident, which resulted in

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Yenagoa Residents Laud PHEDC Over Improved Power Supply

Some Yenagoa residents and business outfits have lauded the Port-Harcourt Electricity Distribution Company (PEDC), for improved power supply in the area. They gave the commendation in Yenagoa on Tuesday, reports PM News The Chairman of Amarata, Light Committee, Mr Sukume Wilson, said the PEDC should be commended for improved power supply in Bayelsa. Wilson said

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Nigeria Shops for N1.4trn to Accomplish Rural Electrification Target in 2040

To meet its national target of providing electricity to all its citizens currently without any by 2040, Nigeria will need about N1.4 trillion, a federal government Rural Electrification Strategy and Implementation Plan, has disclosed. Contents of the strategy document which OGN obtained in Abuja, stated that within the periods 2020 and 2040 the government will attempt

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14 Solar IPPs Get 6-Month Extension on PPAs Execution with NBET

The execution window for the power purchase agreements (PPAs) of Nigeria’s 14 pioneer utility scale solar plants has been extended by six months to enable promoters of the projects meet up with the condition precedents in their PPAs, OGN has learnt. Signed in July, 2016, between the promoters and Nigeria’s federal government, OGN previously reported

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