The Minister of Power, Works and Housing, Mr. Babatunde Fashola SAN, Monday directed the Nigerian Electricity Regulatory Commission (NERC) to immediately step in to ensure that Electricity Distribution Companies (DisCos) improve on their distribution equipment and increase capacity to enable them optimize the use of electrical resources by the Generation Companies (GenCos). Fashola, who spoke […]
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Ismaila Funtua, vice chairman, Mainstream Energy Solution, on Tuesday disclosed that electricity generation companies (GenCos) in Nigeria want an increase in electricity tariff due to what it described as high business costs. He said the GenCos were asking the government to stop subsidising electricity and “let those who can pay for it do so”. He also said […]
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The Federal Executive Council (FEC) on Wednesday approved a payment guarantee assurance by the CBN for power generating companies (GENCOS) to solve liquidity problems in the energy sector. The Minister of Works, Power and Housing, Mr Babatunde Fashola, who announced this to State House Correspondents, said the CBN would hold N701 billion for regular payment […]
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