Tag: Power Sector
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Reps launch investigation into $16bn previous administrations invested in power sector
The House of Representatives on Thursday resolved to Investigate a whooping $16 Billion spent on the power sector under power sector reforms by all previous federal administrations. This followed the adoption of a motion by Hon. Sada Soli on the matter on the floor of the House at plenary. Soli while debating the motion noted…
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NNPC boosts gas supply to power sector by 88.89%
The Nigerian National Petroleum Corporation (NNPC) increased the supply of gas to the power sector by 88.89 per cent between January 2017 and January 2018. A press statement by the NNPC Spokesman, Mr Ndu Ughamadu, in Abuja on Sunday, said the information was reported in the corporation’s monthly Financial and Operations report for January 2018.…
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N11tn electricity fund: Omokri blasts SERAP, says ‘Jonathan privatized power sector, saved billions from sale of assets’
Sequel to report released on Wednesday in Lagos by the Socio-Economic Rights and Accountability Project, SERAP, indicting the successive administrations of former presidents Olusegun Obasanjo (1999 – 2007), Umaru Musa Yar’Adua (2007 – 2010) and Goodluck Jonathan (2010 – 2015) of embezzling N11 trillion meant to provide regular electricity supply in the country, an aide…
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Britain to support power sector reform in Nigeria
British High Commissioner to Nigeria, Mr Paul Arkwright, said the British Government would support power sector reform in Nigeria. Arkwright stated this on Tuesday in Abuja in an interview with newsmen after visiting Mr Babatunde Fashola, the Minister of Power, Works and Housing. He said that the visit was to identify areas of collaboration with…
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AfDB approves $155m loan for Nigeria’s power sector
The Africa Development Bank, AfDB says it has approved a loan of $155m for Economic and Power Sector Reform Programme in Nigeria. The Senior Communications Officer of AfDB, Fatimah Alkali, in Abuja on Friday said that the loan became effective in October, 19, 2012. Recent media reports had indicated that there might be a face-off…
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Nigeria’s power sector operated in errors – Saraki
Senate President, Bukola Saraki on Tuesday said there had been errors in the privatisation process and the model by which the power sector is being operated. Saraki also declared that the power sector has failed and nobody was willing to “tackle the issue headlong.” Addressing his colleagues on resumption of plenary, after a three-week break…