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The Minister of Finance, Mrs. Zainab Ahmed has disclosed that the federal has commenced discussion with the World Bank with a view to take a $1 billion loan for the development of the power sector.
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Development of off-grid power distribution solution, otherwise, known as standalone power system will open up the power sector to more investment opportunities from within and outside the country, thereby contributing to economic productivity and Gross Domestic Product (GDP) growth,a n investment banking firm, Emerging Africa Capital Group, has said.
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ABUJA—Africa Democratic Congress, ADC, presidential candidate, Dr. Obadiah Mailafia, has said if voted into power he will revolutionise the power sector of the economy, pledging that his administration will invest heavily in power transmission network.
Read More THE hope of a revived power sector heralded by the privatisation of power assets is fading fast.
Read More THE nation’s power sector lost a total of N10.7 billion in the first week of July 2018, showing an increase of 13 per cent compared with N9.3 billion recorded in the last week of June 2018.
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Kola Adesina, Chairman-Egbin Power Plc. has said Nigeria’s Power sector required robust policies and stakeholder collaboration to make the sector more bankable to facilitate fresh investments to drive expansion and growth.
Read More THE electricity sector has recorded losses amounting to N187 billion as a result of inadequate gas, poor distribution and transmission as well as water reserves constraints.
Read More Socio-Economic Rights and Accountability Project (SERAP) has sent a Freedom of Information request to Babatunde Fashola, SAN, Minister of Power, Works and Housing asking him to use his good offices and leadership position “to urgently provide information on specific details of spending on the privatisation of the electricity sector and the exact amount of post-privatisation spending to date, and to explain if such spending came from budgetary allocations or other sources.”
Read More DESPITE the fact that the nation’s natural gas reserves rose by 4.067 trillion cubic feet (tcf) from 187.998tcf in 2014 to 192.065tcf in 2015, the power sector continues to suffer various setbacks as it recorded 230 systems breakdown or collapses in eight years.
Read More World Bank has approved a 486 million dollars credit facility to Nigeria for electricity grid improvements, the lender said on Friday.
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