The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has said the level of corruption in the power sector would make people cry. He put it this way: “As we speak, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears. “People …

The House of Representatives Committee on Safety Standards and Regulations has identified lack of enforcement of laid down rules and regulations by regulatory agencies as the factor that enables and sustains vandalism, sabotage and other sharp practices bedeviling the nation’s power sector. Chairman of the committee, Rep Sulaiman Abubakar Gumi, stated this during a briefing to present the Nigeria Electricity …

The Federal Government has inaugurated the Power Sector Communications Team (PSCT) in a bid to enhance transparency and communication within the power sector. The inauguration ceremony, held at the Power House in Abuja, was presided over by the Minister of Power, Chief Adebayo Adelabu, who emphasised the importance of effective communication in addressing the sector’s challenges. This was disclosed in …

The Minister of Power, Chief Adebayo Adelabu, has declared that there has been improvement in the power sector following the reforms introduced by the President Bola Ahmed Tinubu administration. A statement by the ministry on Wednesday said Adelabu stated this during the first meeting of the Inter-Ministerial Power Sector Working Group set up by the President. He said the working …

The United States Agency for International Development (USAID) and the Federal Ministry of Power signed a memorandum of understanding (MOU) on Wednesday to secure Nigeria’s commitment to electricity sector reforms, market transparency, liquidity, and expanding access to affordable power. The MOU was signed by USAID/Nigeria Mission Director, Melissa Jones, and the Permanent Secretary, Federal Ministry of Power, Mahmuda Mamman, to …

Think-tank backs power sector investment through new tariff; canvasses lower rates for businesses The Independent Media and Policy Initiative (IMPI) has justified the new tariff for Nigeria’s top end electricity consumers but does not think the authorities are doing enough to communicate with Nigerians. In a policy statement signed by its Chairman, Chief Niyi Akinsiju, the Policy Think tank noted …

The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun has called for liquidity for the power sector. This is coming just as the Managing Director of Niger Delta Power Holding Company (NDPHC), Mr. Chiedu Ugbo informed the Senate Committee on Power that the Calabar Power Generation Company under its ownership, is the best-performing power plant in …

Chairman, board of directors of Transnational Corporation Plc, Mr Tony Elumelu has urged the federal government to expedite action in the payment of the over N2 trillion owed to power generation companies (GenCos) by the Nigerian Bulk Electricity Trading Plc (NBET) to sustain the reliable flow of electricity from the GenCos. He said the distortion in the liquidity flow in …

In the wake of ongoing protests against the electricity tariff increase, the Federal Government has pleaded with labour unions not to disrupt its plans to reform the sector. The call comes amidst growing tensions between the government and labour unions over recent increases in electricity tariffs. The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) had picketed offices of …

The federal government has announced an increase in the wholesale price of gas to power plants by 11 per cent from $2.18 per MMBTU (Million British Thermal Unit) to $2.42/MMBtu. The gas companies had since January this year reduced supply to power plants following years of unpaid invoices amounting to over $1.2 billion. The government intervened last month by paying …