Tag: Power Sector
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Power sector generated N700bn revenue increase in 2024 – Minister
Minister of Power, Mr Adebayo Adelabu, on Thursday said the sector generated additional N700 billion revenue in 2024, reflecting a 70 per cent increase from what was collected in 2023. Adelabu said this during the 6th Edition of the 2025 Ministerial Press Briefing Series in Abuja on Thursday.
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Epileptic electricity: ACF asks FG to declare state of emergency in power sector
The Arewa Consultative Forum (ACF) has called for a State of Emergency on power outage, lamenting that over the past week and still counting, most parts of the northern states of Nigeria have been battling with sustained electric power supply outages, leading to near total paralysis in economic and social activities in the region. The…
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Transcorp Power MD/CEO, Christopher Ezeafulukwe, appointed MD/CEO of AEDC
In its move to further strengthen the Nigerian power sector, the Managing Director/CEO of Transcorp Power Limited, Christopher Ezeafulukwe, has been appointed by the Board of the Abuja Electricity Distribution Company (AEDC) Board, as the new Managing Director/CEO of AEDC. This follows the acquisition of 60% stake in AEDC, by a Transcorp-led consortium.
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Labour Party tasks Tinubu on power sector challenges
The Labour Party in Lagos State has urged President Bola Tinubu to urgently address all the problems militating against a stable electricity supply in the country. The party added that improving the supply of electricity in both urban and rura
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Energy supply crisis spurs Obi to visit Egyptian power stations
Over the years, the Nigerian energy supply has been in a near-comatose state, making the power sector unable to provide adequate electricity supply to domestic households and industrial producers despite being among the world’s largest deposits of coal, oil, and gas. The energy supply crisis in Nigeria is complex, stems from a variety of issues,…
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Privatisation of power sector has failed, reverse it now, Labour tells FG
The Nigeria Labour Congress
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How powerful forces stopped Fola Adeola from fixing power sector during Obasanjo’s administration – Okupe
A former presidential aide, Dr Doyin Okupe, has revealed how some powerful interests scuttled the decision of former President Olusegun Obasanjo to bring on board a co-founder of GTBank, Fola Adeola, to fix the defunct National Electricity Power Authority (NEPA). Adeola, he said, had agreed to fix the defunct NEPA after Obasanjo agreed to his…
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World bank query Nigeria’s $750m loan as country loses N28bn to epileptic power supply
The World Bank has declared that Nigeria has lost N28 billion to power epilepsy rocking the country. The apex bank, which stated this in a document in which it demanded accountability on $750 million loan it approved for Nigeria’s power sector, maintained that what the country lost to inability to fix power problem was equivalent…
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Estimated billing system in Nigeria’s power sector “remains a no, no,” – Gbajabiamila
The Speaker of the House of Representatives, Femi Gbajabiamila says estimated billing system in the power sector “remains a no, no,” and whatever needs to be done to address the issue must be carried out. He said this on Tuesday in Abuja, while inaugurating the House Ad hoc Committee on Power Sector Reforms, chaired by…
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UPDATE: Reps move to probe over N2trn power sector investments
Disturbed by the poor performance of the power sector in Nigeria, members of the House of Representatives on Tuesday moved to probe its activities since 2001 involving over N2trillion investments. Recall that this is about the eighth investigative hearing into the lacklustre performance of the vital sector in Nigeria from the sixth Assembly. To this…