Finance & Markets articles

power-plant

Power: N1.3bn Daily Earning Deferred over System Constraints

Power: N1.3bn Daily Earning Deferred over System Constraints

Nigeria’s electricity industry has continued to operate below its expected capacity despite reforms by the federal government, operational records from the National Control Centre (NCC) have disclosed. According to a seven-day NCC operational report on the sector’s performance which THISDAY obtained in Abuja, the industry deferred an average of N1.3 billion that it could have

World Bank

Electricity: FG Seeks $5bn Loan From World Bank

The Federal Government is seeking a loan of $5bn from the World Bank Group to boost power availability in Nigeria, investigation has shown. The World Bank had in April stated that a powerful delegation from Nigeria was in Washington DC to discuss assistance for the nation’s power sector, but did not disclose the details of

nigerian-bulk-electricity-trading-nbet-initials

Benin, Niger Republics owe Gencos $92m in Electricity Bills – NBET

The Nigerian Bulk Electricity Trading Plc (NBET) has said that electricity generation companies (Gencos) in Nigeria’s power sector are still being owed about $92,315,986.20 by their international customers for electricity supplied to them overtime. The NBET said at the last monthly meeting between the sector operators and the Minister of Power, Works and Housing, Mr.

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Benin, Niger Pay N48.84bn to Nigeria for Power

The Republics of Benin and Niger have paid a total of $159,773,116.61 (N48.84bn at the official exchange rate of N305.7 to a dollar) as electricity charges to the Nigeria Bulk Electricity Trading Plc, the Federal Government has said. It also stated that both countries had a combined balance of $92,315,986.20 (N28.22bn) to pay to the

fashola (3)

Operators Must Account for Every Loss in Electricity Market.

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has stated that culpable operators in the country’s power sector must be held responsible for recorded losses incurred by the market. Fashola has also asked the Nigerian Electricity Regulatory Commission (NERC) to proactively enforce sanctions against any of the operators or stakeholders found guilty of

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