Energy Business Digest
Ibadan & Benin DisCos Resist Board Dissolution by BPE
The Nigerian Power sector is undergoing interesting times. Recently, the Bureau of Public Enterprises (BPE) and the sector regulator, Nigeria Electricity Regulatory Commission (NERC) met and dissolved and replaced the boards and managements of five electricity distribution companies (DisCos) following the lenders recall of funds advanced to core investors for the purchase of power assets. […]
“Take Over Can’t Happen” – Benin DisCo, Set to Resist Sack of Board & Management
The management of Benin Electricity Distribution Company, BEDC, has described the reported sack of her Board and Management by the Bureau of Public Enterprises (BPE) and Nigeria Electricity Regulatory Commission (NERC) following Fidelity Bank recall of facility as unlawful, illegal and of no basis. According to the release by BEDC Management posted on its Twitter […]
Fidelity Bank Takes Over Boards of 3 DisCos, Works With FG on New Management Structure
The boards and executive managements of three electricity distribution companies, DisCos have been replaced by the major lenders, Fidelity Bank and AFREXIM, following the formal recall of the collateralized facilities the banks issued for the purchase of the power assets. It is believed that the lenders recalled the facilities as the core power investors have […]
University College Hospital imposes N1,000 daily electricity bill on admitted patients
The management of the University College Hospital (UCH), Ibadan, Oyo State, has confirmed the addition of N1,000 daily electricity fee to the service charge of every admitted patient in the hospital. Admitted patients and their family members are now going to pay more to access medical services from this renowned hospital. The hospital, in a […]
TCN to Maintain Major Transformer in Abuja With Minimal Power Interruption
The management of Transmission Company of. Nigeria, TCN, has announced that her engineers would carry out the usual annual maintenance on the 150MVA 330/132/33kV transformer and associated switch gears at the Gwagwalada Transmission Substation in Abuja. According to the notice published on the company’s twitter handle, the planned maintenance would take place on Saturday, 29th […]
President Buhari Appoints Aliyu Tahir as NEMSA MD/CEO
President Mohammadu Buhari has appointed Aliyu Tahir as the new Managing Director/CEO of the Nigerian Electricity Management Service Agency (NEMSA). The appointment which took effect from December 31, 2021 is for four years at the first instance and renewable based on performance. Before the appointment, Engr Aliyu Tahir was General Manager Technical Standards & Inspectorate […]
Ibadan DisCo Falls into AMCON’s Hands
The Assets Management Corporation of Nigeria, (AMCON) has finally taken over the control of Ibadan Electricity Distribution Company, (IBEDC) Limited over her inability to off-set acquisition loan from Polaris Bank (Skye Bank), several months after it got the Notice of Receivership in August 2021. In a public notice, AMCON stated that it had appointed Mr […]
REA Gives 24,000 Rural Families Cause to Smile with Solar Power
The management of the Rural Electrification Agency, REA, has put smiles in the faces of over 24,000 rural families around the nation with the completion of the first phase of the Rural Electrification Fund (REF). The relief of the families is easy to imagine as they are now enjoying better lives with their ability to […]
TCN Energizes 2nd 330kV Akangba-Ikeja West Line in Lagos
Transmission Company of Nigeria, TCN, has energized the 2nd 330kV Akangba- Ikeja West Line to backfeed bulk electricity to Ikeja West Substation in Lagos, following the fall of 5 towers on the main power line that were brought down by the vandalized pipeline fire a few days ago in Lagos. According to the MD/CEO, Dr […]
FG To Complete 2nd Power Line to Evacuate 40MW Kashimbilla Power Plant in 6 Months
The Minister of Power, Engr Abubakar Aliyu has said the federal government will complete the second phase of power transmission line that would evacuate power from the 40 megawatts (MW) Kashimbilla hydropower plant in Taraba State to Makurdi, Benue State in six months. Engr Aliyu said this yesterday in Markudi when he paid a courtesy […]
Ibadan & Benin DisCos Resist Board Dissolution by BPE
“Take Over Can’t Happen” – Benin DisCo, Set to Resist Sack of Board & Management
Fidelity Bank Takes Over Boards of 3 DisCos, Works With FG on New Management Structure
Clement on TCN Commissions 2 Power Transformers in 2 States in One Day
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