•Tinubu The federal government has agreed to installmental payment of the N4 trillion debt owed Power Generation Companies (GenCos). The repayment plan has been endorsed by President Bola Tinubu, a move power sector players see as welcomed development to address structural bottlenecks and lay the groundwork for large-scale private sector-led i...
The federal government is now owing electricity Generation Companies (GenCos) and Distribution Companies (DisCos) over N4 trillion, according to the Minister of Power, Adebayo Adelabu. He broke the news today at a public presentation of the National Integrated Electricity Policy (NIEP) and Nigeria Integrated Resource Plan (NIRP) in Abuja, repo...
Wholesale gas-producing companies have abruptly stopped the supply of natural gas to power generation companies for electricity production over the non-payment of debts accrued from previous supplies, fresh findings have shown. The Chief Executive Officer of the Association of Power Generation Companies, Dr Joy Ogaji, disclosed the latest deve...
•Energy The federal government, yesterday, increased the wholesale price of gas to power plants by 11 per cent from $2.18 per MMBTU to $2.42/mmbtu (Million British Thermal Unit), leaving power generation companies with additional cost. The gas companies had since January this year reduced supply to power plants following years of unpaid invoic...
The federal government yesterday in Abuja, asked for more time to fix the nation’s electricity challenges as 17 generation and distribution licenses are due for revocation or renewal tomorrow. Just like previous administration had done without meaningful solution since the power sector was privatised 10 years ago, President Bola Tinubu, Minist...
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