Finance & Markets articles

Electricity-grid

FG to Adopt Centralised Electricity Bills Payment System

FG to Adopt Centralised Electricity Bills Payment System

Following its disagreement with electricity distribution companies (Discos) over the accumulated electricity bills owed by its agencies, the federal government said it would henceforth adopt a new payment mechanism for the settlement of the monthly electricity bills of its Ministries, Departments and Agencies (MDAs). This was contained in a report presented by the Special Assistant

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Oando Gas and Power Sells 49% Voting Rights to Helios Investment Partners

Oando, a leading Nigerian oil and gas firm, has sold 49 percent of the voting rights in its midstream business subsidiary, Oando Gas and Power (OGP), to Helios Investment Partners, a London-based private equity firm. According to a statement released at the Nigerian Stock Exchange on Monday, the transaction is worth $115.8 million but is

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Drastic Tariff Reform Will Boost Investment in Nigeria’s Power Infrastructure – FBN Capital

FBN Capital, the Investment Banking subsidiary of the FBN Holdings Group has highlighted that investment in the power sector can be encouraged through sustainable and consistent cost reflective tariffs. Abiola Baruwa, a Vice President of the firm made this known as part of a stakeholder forum focused on ‘Managing the Risk of Releasing Private Sector Capital for

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Experts Call for Investment in Small Hydro Power Generation in Nigeria

Experts in electricity generation are canvassing for support and investments in projects for renewable energy to beef up the power generation needs of Nigerians. This is coming on the heels of a budget of $2.6bn set aside by the United Nations Industrial Development Organization (UNIDO) for the development of Small Hydro Power Plants in Nigeria.

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CBN’s N213bn Power Fund to be Disbursed in 3 Weeks

The Central Bank of Nigeria is working with the Nigeria Electricity Regulatory Commission (NERC) to ensure the full disbursement in three weeks, of the more than N200 billion power support fund meant to resolve a pile of legacy debts and empower generating and distribution firms to produce and wheel more electricity to businesses and homes

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Nigeria: Power Receives Funding From Banks

Apart from the effort from the Federal Government to ensure that electricity generation is boosted in the country, some financial institutions have also pledged their support to finance some of the projects that will increase electricity generation in the country. For instance, the African Development Bank (AfDB) recently approved 184.2 million dollars loan (N29.4billion) to

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Turkish Investment Deal to Finance New Power Plant Projects in Nigeria

Nigeria’s minister of power Chinedu Nebo said a memorandum of understanding signed with Turkish-based Koztek Electric and Energy Technologies would see the construction of new power plants and transmission facilities in Nigeria that will be “wholly financed by Turkish business interests” Nebo said Koztek would bring “expertise in hydropower, switchgears and transmission super structures” to Nigeria.

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AFDB Commits $200m to Coal-to-Power Projects, Says FG

In its determination to deepen the development of the renewable energy, the African Development Bank, AFDB, has offered to provide a support to the tune of about $200 million towards the growth of coal-to-power projects in Nigeria. The Managing Director and Chief Executive of Nigerian Bulk Electricity Trading PLC, NBET, Mr. Rumundaka Wonodi, who disclosed

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