President Bola Tinubu has directed immediate payment of the electricity bill utilised by the State House to Abuja Electricity Distribution Company (AEDC). In a statement on Tuesday, the presidential Special Adviser on Information and Strategy, Mr. Bayo Onanuga said the President’s directive followed the reconciliation of accounts between the State House Management and AEDC. In an advertorial AEDC published in …

Minister of Power, Adebayo Adelabu, has said that Nigeria cannot continue to subsidise electricity, adding that the country needs to start implementing a cost-effective tariff model. This, he said, is because the country owes Generating Companies (GenCos) N1.3 trillion and gas companies $1.3billion. Adelabu stated this in a briefing in Abuja on Wednesday. The Minister said that only N450 billion was allocated …

Under the current arrangement, the Nigerian Bulk Electricity Trading Plc (NBET), procures power in bulk from Independent Power Producers (IPPs), and GenCos for resale to DisCos, eligible or international customers. Under the new regulation or order approved by the Nigerian Electricity Regulatory Commission (NERC), NBET that carries out the role of a “pool” administrator for the Nigerian electricity market, it …

The Vice Chancellor of the University of Ilorin (Unilorin),  Prof. Wahab Egbewole, says the institution expends about N1.3 billion annually on electricity, in spite of its financial challenges. The vice chancellor disclosed this on Monday in his office during an interactive session between the management and the Unilorin Students’ Union Executive Committee members. According to him, the university incurred a …

Power distribution companies, on Sunday, denied reports of electricity tariff hike beginning from today, 1 January 2024. They said the Nigerian Electricity Regulatory Commission (NERC) had not issued any directive for such. It was reported on Sunday that power distribution companies were planning to hike electricity tariffs from 1 January 2024, a development that was neither confirmed by the NERC …

  The Rural Electrification Agency (REA) has announced a partnership with CrossBoundary Energy Access Assets Nigeria Limited, a subsidiary of CrossBoundary Access, a leading project financer of mini-grids in Africa, and ENGIE Energy Access Nigeria, a leading provider of solar home systems and mini-grid solutions. This collaboration is set to bring clean and stable electricity to 15 rural communities spread …

The Nigerian Electricity Regulatory Commission (NERC), on Wednesday, said that the Federal Government paid a total of N135.23 billion to subsidise electricity consumption in the second quarter of 2023. This was made known in the commission’s Q2, 2023 report. NERC said that the N135.2 billion was spent by the FG to plug revenue generation shortfall in the power sector in …