Geregu Power closes N40.1bn corporate bond issuance, Nigeria’s largest by a GenCo
Habeeb Adamu
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
Businessam Staff
March 14, 2022

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
Mike Ochonma
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 […]
Hike in electricity tariff imminent as NERC sets to conclude extraordinary review
Wale Ameen
April 27, 2021

Wale Ameen Online Editor Nigerians may be in for some tougher times ahead as there is an imminent increase in electricity tariff soon. This is in view of the move by the Nigerian Electricity Regulatory Commission to commence the process for the July 2021 Minor Review of the Multi Year Tariff. This is contained […]
Explosion at TCN’s station plunges Port Harcourt into power outage
Online Editor
April 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
Arakunle Kayode
April 15, 2021

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
Businessam Staff
September 2, 2020

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
Businessam Staff
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
Businesssam Staff
August 20, 2020

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 […]
Power: Siemens gets N8.64bn counterpart funding to boost electricity in Nigeria
Businessam Staff
July 29, 2020

The Nigerian electricity improvement scheme between a glober energy company, Siemens, and the Nigerian government moved a step closer to being realised as the Federal Executive Council on Wednesday approved the payment of N.6 billion to the company. A breakdown of the money shows that the sum of €15.21 million (N6,940,081,465.20) as offshore and N1.708 […]