Core investors in DisCos decry lack of returns on investments

Investments

Nigeria’s electricity investors are yet to reap the returns on their investments five years after privatization. A total of N427billion ($1.2 billion) was paid to acquire 60 percent stakes in the 11 electricity distribution companies (DisCos) in 2013, but the core investors have said they are yet to recover the investments or make profit from […]

Nigeria electricity coys say central bank market stabilization fund leaves power industry worse off

Market Stabilization

Nigeria’s electricity distributors, popularly called DisCos, have said that the country’s electricity market stabilization fund (NEMSF) has made the liquidity crisis in the industry much worse as they now find themselves encumbered by debt as it does not provide them with direct financial support. Sunday Oduntan, executive director, research and advocacy of the umbrella body […]

Nigeria’s Ariaria market to get 9.5MW from independent sources

Nigeria’s electricity regulatory commission, NERC, announced Tuesday that it has issued electricity generation and distribution licenses to Ariaria Market in Abia state. NERC in a statement said that it has granted a 9.5 megawatts (MW) embedded electricity generation license to Ariaria Market IPP Ltd and an independent electricity distribution license to distribute same within Ariaria […]

NERC admits 8 new firms for participation in electricity meter supply bid process

Nigeria’s electricity regulatory body, NERC, has granted eight firms “no objection” in order to participate in the procurement and eventual bid process of metering service with electricity distribution companies (DisCos). This brings the number of successful applicants to 30 and after the submission deadline, they are expected to begin the bidding process with any DisCos of their choice. “Successful applicants […]

22 firms receive approval from federal government to meter Nigerians

Twenty two firms have gained approval from Nigeria government to act as meter asset providers (MAPs), taking over the metering services from the electricity distribution companies (DisCos), Anthony Youdeowei, managing director of Ikeja Electric has said. The federal government plans to take a more active role this time around in the metering of its citizens […]

Manufacturers seek Nigerian government bailout over N29bn electricity debt

Nigerian manufacturers are calling on the federal government to help resolve its N29 billion electricity tariff dispute with the electricity distribution companies (DisCos) and the Nigerian Electricity Regulatory Commission (NERC). Segun Ajayi-Kadir, director-general of Manufacturers Association of Nigeria (MAN), made the appeal in Lagos yesterday while assessing the three years’ performance of President Muhammadu Buhari’s […]

Discos lose N20bn monthly to collection gap

Uday Mishra, the chief corporate service officer, Kaduna Electricity Distribution Company (KADECO), says distribution companies (DISCOs) lose about N20 billion monthly across the country due to collection gap. Mishra, in an interactive session with newsmen in Kaduna on the various challenges surrounding DISCOs in the country, said the major challenge as regards electricity distribution in […]

TCN pushes recapitalisation to Nigeria electricity distributors

The Transmission Company of Nigeria (TCN), on Wednesday, urged electricity distribution companies (DisCos) to recapitalize their investment in order to boost their capacity as large volume of power waiting for evacuation is often rejected and was causing high frequency and system collapse. Smart Omo Omoragbon, TCN’s assistant general manager, operations, made this call during a […]