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The 11 power distribution companies operating in Nigeria need $10bn worth of investments to efficiently distribute electricity across the country over a five-year period, the French Agency for Development has said.
The power sector is in a hurry to be listed among the non-performing privatised assets of the Federal Government.
Going to discos was very popular in the ’80s. But dancing to a melodic pop music was not the only thing boys knew how to do then. They also played some wooing pranks on girls, starting with such gimmicks as “excuse me dance”.
The Trade Union Congress has asked Nigerians to look for alternative power source beginning from Monday (today), as it declared that it would shut down the nationwide operations of the Transmission Company of Nigeria today.
Nigeria lost 16,458.9 megawatts of electricity as challenges of gas supply, water management and national grid forced 25 of the 29 power generation companies (Gencos) to cut down on their capacities at the weekend, a report from the Office of the Vice President, Prof. Yemi Osinbajo has disclosed.
Nigeria in 2013, handed over ageing, unserviced electricity generation and distribution assets to private investors who participated in the country’s power sector privatisation exercise that year, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, said on Thursday in Abuja.
Despite the $1.6billion investments in transmission lines and substations, the Managing Director, Transmission Company of Nigeria (TCN), Mr. Usman Gur Mohammed Saturday gave excuses why the electricity system has been experiencing incessant system collapse.
Nigerians are groaning again in darkness after the national electricity grid suffered a major failure on Wednesday, seizing power supply to homes amidst scorching weather conditions.
Nigeria has been named among countries in the West Africa sub-region to benefit from off grid support programme by the World Bank. The board of the World Bank Group reportedly approved a series of funding for the Regional Off-Grid Electrification Project (ROGEP) for selected countries in West Africa and the Sahel region.
With average energy enjoyed by electricity consumers dropping to 4,002 megawatts last month, the nation’s power sector lost a total of N46.01 billion revenue due to constraints which included shortage of gas; grid unreliability and distribution limitations.