A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
The Minister of State for Power, Mr Goddy Agba, says the ministry will continue to support the Federal Government’s policies on diversification of the energy sector. Agba said this on Friday during the inauguration of the 60kwp Solar Hybrid Mini-Grid in Ikangha Mkpansi Community in Ikom Local Government Area in Cross River State. The minister
Read More
By Obas Esiedesa – Abuja With over 850 million Africans still dependent on solid fuel for cooking, refiners and distributors of Liquefied Petroleum Gas, LPG, have called for speedy deployment of clean cooking fuel across the continent. The adoption, LPG experts say, would save the lives of about 600,000 people annually on the continent. Speaking
Read More
By Prince Okafor Diversified conglomerate, Transnational Corporation of Nigeria Plc, Transcorp, has stepped up its presence in the nation’s power and petroleum sectors. Speaking at the 15th Annual General Meeting (AGM) in Abuja, the shareholders, while commending the company for declaring dividends despite the negative impact of the Covid-19 pandemic, noted the significant advances in
Read More
By Ediri Ejoh There are indications that the Federal Government through the Nigerian National Petroleum Corporation, NNPC would be under more pressure to fund Nigeria’s petrol under-recovery or subsidy as the price of Bonny Light rises to $65 per barrel in May 2021. This showed an increase of 150 per cent when juxtaposed against $26
Read More
By Obas Esiedesa As a part effort to support and grow revenue of the power sector, the Central Bank of Nigeria, CBN, last week disclosed that it has disbursed about N3.6 billion for procurement of pre-paid meters to stabilise the billing system in electricity consumption in Nigeria as part of its N120.2 billion investments in
Read More
By Obas Esiedesa Despite the improving revenue in the power sector, the federal government is set to effect another tariff increase on July 1, following a notice by the Nigeria Electricity Regulatory Commission, NERC, to that effect. The government’s latest move which is part of the half-yearly review of the Multi-Year Tariff Order, MYTO, has
Read More
By Obas Esiedesa Six months into the Federal Government’s intervention in the revenue process of the power sector, the latest figures have shown that revenue grew by 33.93 percent in the last three months to N184.26 billion as of February, 2021. The Presidential Power Sector Working Group had in September 2020, intervened in the collection
Read More
The Nigerian Electricity Regulatory Commission (NERC) has given approval to Ikeja Electric Plc to invest the sum of N121.92 billion for infrastructure upgrade across its network within a period of five years. NERC, which is the regulator of Nigeria’s electricity sector, also approved N93.76 billion for Eko Electricity Distribution Company (EKEDC) to upgrade infrastructure across
Read More
By Udeme Akpan & Ediri Ejoh Consumers of electricity, experts, others, Tuesday, reacted as the Nigerian Electricity Regulatory Commission (NERC) plans a new tariff review in the nation. In its notice issued April 26, 2021, NERC had stated: “Accordingly, this notice is issued to inform the general public and industry stakeholders of the Commission’s intention
Read More
By Udeme Akpan THE rig count of Nigeria has dropped by 55.34 per cent in the first quarter, January–March, 2021 to 19, according to data collated from recent reports of the Organisation of Petroleum Exporting Countries, OPEC. The rig count, a major index of measuring activities in the upstream sector, had stood at 65 in
Read More
