Geregu Power closes N40.1bn corporate bond issuance, Nigeria’s largest by a GenCo

July 29, 2022

By Habeeb Adamu. Geregu Power Plc, a power company primarily engaged in the generation and sale of electric power in Nigeria, has announced its successful issuance of a N40.085 billion Senior Unsecured Bonds under its N100 billion multi-instrument issuance programme. The transaction, which represents Geregu’s debut bond issuance in the debt market, is the largest […]

Power minister’s 18,000mw capacity whitewash fails to achieve goal

March 14, 2022

Power minister’s 18,000mw capacity whitewash fails to achieve goal

BY: Olusola Bello. The federal government claims that the country now has an installed electricity capacity of 18,000 megawatts with 8,000 megawatts of daily generation. This claim has, as expected, roused the attention of and attracted comments from industry operators. The claim is coming amid complaints of terrible supply situations across the country with a […]

Niger’s Zungeru hydroelectric plant to deliver first MW in December

May 6, 2021

MIKE OCHONMA   Niger state government says that the first turbine of the plant will be operational in December 2021. The facility built in west-central Nigeria will have a capacity of 700 MW following an inspection visit to the site of the Zungeru hydropower project by the government officials and other technical team with knowledge […]

Explosion at TCN’s station plunges Port Harcourt into power outage

Online EditorApril 15, 2021

… Businesses count losses in millions Ben Eguzozie, in Port Harcourt A massive explosion at a transformer of Transmission Company of Nigeria’s (TCN) transmission station in Port Harcourt, Rivers State capital has plunged most parts of the Port Harcourt metropolis into severe power outage. Management of TCN said its engineers were working to repair the […]

FG apologizes to Nigerians for poor power supply, says 8 plants broke down

April 15, 2021

United Kingdom energy

Arakunle Kayode   The federal government has apologized to Nigerians for the ongoing power outages and shortages in different parts of the country. The Minister of Power, Sale Mamman, expressed remorse for the unfortunate situation and apologized to all affected Nigerians for the inconveniences caused by the power outages in a series of tweets on […]

New electricity tariffs: NLC threatens action against Discos, OPS says it will usher in recession fast

September 2, 2020

NLC gives govs Dec 31 deadline for new minimum wage implementation

Organised labour and the organised private sector have slammed the upward review of electricity tariffs which started on September 1, 2020. Commenting on the matter, the Manufacturers Association of Nigeria said the tariff increase could trigger another round of recession in the third quarter of the year. Ambrose Oruche, the acting director-general, Manufacturing Association of […]

FG-Siemens power deal to gulp $2.3bn out of $6.15bn energy fund – Minister

August 27, 2020

The federal government is to spend the sum of $2.3 billion on its  power deal with Siemens, a german electrical  firm, for the improvement of electricity in the country. Sale Mamman, minister of power, who stated this said another $1.6bn was for the transmission rehabilitation and expansion Programme. The misterrecently marked his one year anniversary […]

Nigeria records landmark power transmission of 5,420.3MW

August 20, 2020

Gencos allege N1.7tn funding shortfall

The Nigerian power industry recorded a landmark national peak of 5,420.30 megawatts, the first of its kind in the country. According to the Transmission Company of Nigeria, in a statement on Thursday, the 5,420.3MW was effectively transmitted through the national grid at a frequency of 50.10Hz at 9:15 pm on August 18, 2020. “This is […]