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Vice President Yemi Osinbajo says the present administration has invested N900 billion in the power sector since its assumption of office in 2015.
Ten out of the nation’s 27 power plants saw their total output reduced by 1,664 megawatts on Thursday as a result of low demand by power distribution companies, data obtained from the Transmission Company of Nigeria showed.
Many communities in Ogun State are under threats of having their buildings demolished for erecting them on the Right of Ways (RoWs) of the Transmission Company of Nigeria(TCN), it was learnt.
President Muhammadu Buhari admitted on Wednesday that the performance of his administration in the power sector was “not good enough”, saying that this called for more efforts by Electricity Distribution Companies to provide the needed resources and technical expertise.
The Nigerian Electricity Regulatory Commission (NERC) has alleged that no electricity distribution company (Disco) in the power sector has been able to meet the demands of electricity consumers in the country since the sector was reformed in 2005.
The latest system collapse reported on Sunday may have worsened the poor electricity supply situation in the country.
Electricity distribution companies (Discos) in Nigeria have said it will take about $100 billion – approximately N36 trillion, worth of investment in Nigeria’s power sector over a period of 20 years for the country to enjoy stable electricity supply
The Central Bank of Nigeria (CBN), Deposit Monetary Banks (DMBs) and other financial institutions should collaborate with a view to repositioning the power sector for growth, Growth & Development Asset Management Limited (GDL) Managing Director, Kola Ayeye, has said.
Power distribution networks in various parts of Nigeria have been collapsing as a result of the rainfall being experienced across the country, the Transmission Company of Nigeria has declared.
In accordance with the directives of the Nigerian Electricity Regulatory Commission (NERC) to bridge the lingering metering gap through the new Meter Asset Providers (MAP) initiative, Ikeja Electric Plc (IE) has declared intentions to roll out about 100,000 pre-paid meters under the scheme from June 17th around the Ikorodu business unit.