The management of Ibadan Electricity Distribution Company (IBEDC), said it has made all outstanding payment on the N6billion loan that instigated the suspension of its directors by the Nigerian Electricity Regulatory Commission (NERC). A statement by the Company Secretary, Seye Alayande , said the news of the suspension was received with shock and disbelief. Alayande […]
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Organised Labour has restated its call for the reversal of the power sector’s privatisation. Reacting to President Muhammadu Buhari’s speech on Democracy Day, the United Labour Congress (ULC), said the power sector has failed Nigerians. Its President, Joe Ajaero, said the power sector privatisation was a failure. “It has been a harvest of woes. The […]
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The electricity sector has recorded losses amounting to ₦187 billion as a result of inadequate gas, poor distribution and transmission as well as water reserves constraints. The losses recorded between December, 2017 and May, 2018 has affected the generation, transmission and distribution of adequate and stable electricity to consumers in Nigeria. A report obtained by […]
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The House of Representatives has mandated its Committee on Power to investigate the ₦701 billion Payment Assurance Facility and the ₦194 billion interest payment approved by the Federal Government for funding gas supply and generation sub-sectors of the electricity industry. The committee is to report back to the House within four weeks for further legislative […]
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The Nigeria Government is in talks with operators of the Electricity Distribution Companies, DISCOs, to divest some of the government’s shares and accommodate new investors, expected to bring more funds to improve service delivery. Minister of State for Budget and National Planning, Mrs. Zainab Mohammed, disclosed this at the end of the Nigeria Economic Summit […]
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The Federal Government is putting in place measures to increase the capacity of electricity distribution companies (DisCos) by 2,000 megawatts (mw), to improve service to consumers. However, there are indications that the DisCos are not comfortable with the arrangement. The Federal Government intends to make direct investments in the distribution arm of the power supply […]
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The Chairman of Heirs Holding and United Bank for Africa (UBA) Mr. Tony Elumelu has advised President Muhammdau Buhari to reconsider the ownership structure of the Electricity Distribution Companies (DisCos) with a view to taking over controlling shares of the firms. He spaoke on the sidelines of ongoing 23rd Nigerian Economic Summit holding in Abuja. […]
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The Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari, Wednesday, approved the sum of ₦25,994 billion for Distribution Companies (Discos), to offset some of the debts owed by Ministries Departments and Agencies (MDAs). The Council approved the verified sum of ₦25.994 billions for Discos out of the claims of ₦67.41 billions, leaving […]
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Nigeria’s Minister of Power, Works and Housing, Mr. Babatunde Fashola, has said the Government will not put to sale the nation’s 40 per cent stake in electricity distribution companies without consulting Nigerians. Fashola stated this on Thursday in Lagos at a policy dialogue on the power sector organised by the Lagos Chamber of Commerce and Industry. […]
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Efforts to bridge the over 10 million metering gap may have received the desired boost as the Federal Government has approved about ₦39 billion to procure meters for customers. Minister of Power, Works and Housing, Mr. Babatunde Fashola, announced the lifeline for Discos at the 18th Monthly Power Sector Stakeholders Meeting hosted by Kano Electricity […]
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The 11 electricity distribution companies (DisCos) require ₦220 billion for the metering of customers, Power, Works and Housing Minister, Mr. Babatunde Raji Fashola, has said. Fashola was the guest lecturer at this year’s edition of the public lecture series of the Department of Economics of the University of Lagos. He spoke on Power sector reforms: […]
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The Socio-Economic Rights and Accountability Project (SERAP) is suing the Federal Government over what it has described as “their collective failure, refusal and negligence to enforce their own directives to electricity distribution companies (DISCOs) to provide free prepaid meters to all Nigerians”. The government has also been accused of “not ending the use of patently […]
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