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 …

The Minister of Power, Mr. Adebayo Adelabu has called for an urgent meeting with key stakeholders in the power sector. The minister’s call is in response to the decline in electricity supply throughout Nigeria. Summoning the chief executives of Abuja Electricity Distribution Company and Ibadan Electricity Distribution Company, alongside the Managing Director of the Transmission Company of Nigeria (TCN), the …

The Minister of Power, Mr. Adebayo Adelabu has lamented that despite the huge investment of the Federal Government in the power sector, the sector has remained underutilised. After inspecting the Benin Electricity Generation Company power plant in Ihovbo under the Niger Delta Power Holding Company on Saturday, the minister assured that his ministry would push for the removal of all …

The Minister of Power, Adebayo Adelabu, has assured Nigerians that the problems bedevilling the nation’s power sector will soon be a thing of the past. He also disclosed that the Federal Government had invested huge funds in the energy sector, but said it was a pity that most Nigerians were still battling with power challenges. Adelabu spoke during his tour …

The European Union (EU) is set to invest €37million in Nigeria’s power sector, the EU Ambassador to Nigeria, Samuela Isopi, has said, according to a statement by the power ministry on Friday. Isopi disclosed this during a visit to the Minister of Power, Adebayo Adelabu. The ministry said the proposed €37 million investment was different from grants of about €200 …

President Bola Ahmed Tinubu, on Friday, declared that despite the nation’s current rate of energy supply, his administration is poised to address all the obstacles militating against stable electricity supply in the country. He said his administration will bring solutions to the multifarious challenges across the electric power sector value chain which will significantly relieve longstanding problems of suppressed demand …

The Federal Executive Council (FEC) has approved N39.6 billion for various transmission line contracts in the power sector. The council meeting, presided over by Vice President Yemi Osinbajo, was held on Wednesday. Briefing journalists at the end of the meeting, Minister of Power, Abubakar Aliyu said the various projects comprise several amounts, including an offshore component of $53 million and …

The fifth edition of the Powerelect Nigeria, the international trade fair and conference on power, energy, renewable and electrical industry is scheduled to hold from 27th to 29th March, next year. Powerelect Nigeria 2023 will take place at Balmoral Convention Centre, Victoria Island, Lagos. The largest international trade fair, B2B meeting and conference, Powerelect Nigeria 2023 is curated for the …