Tag: POWER SECTOR

Minister of Finance, Wale Edun

Finance Minister Leads High-Level Talks with Global Partners to Boost Energy Sector Under Mission 300

Ayo OlowoLeave a Comment on Finance Minister Leads High-Level Talks with Global Partners to Boost Energy Sector Under Mission 300

In a significant move to tackle Nigeria’s energy challenges, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has ramped up engagements with international development partners. The high-level meetings, held in Abuja this week, focused on advancing Nigeria’s leadership role in Mission 300, a continental initiative designed to accelerate electricity access across Africa. […]

Continue Reading

Recent drop in electricity supply caused by gas shortages and grid collapse

Henry AjiereLeave a Comment on Recent drop in electricity supply caused by gas shortages and grid collapse

In recent times, Nigerians have experienced a drop in electricity supply and this has been pinned down on gas shortages and collapse of various generating grids. According to reports, power generation is struggling to stay above the 3000Mega Watts mark as gas problems and low load demand is said to be limiting factors. Latest data […]

Continue Reading

BIG BOOST! W/Bank gives Nigeria $486m credit for power sector

Ayo OlowoLeave a Comment on BIG BOOST! W/Bank gives Nigeria $486m credit for power sector

World Bank has approved a 486 million dollars credit facility to Nigeria for electricity grid improvements, the lender said on Friday. “The investments under the Nigeria Electricity Transmission Project will increase the power transfer capacity of the transmission network and enable distribution companies to supply consumers with additional power,” the World Bank said. Nigeria’s power […]

Continue Reading

Buhari vows to improve infrastructure, power and security

Ayo OlowoLeave a Comment on Buhari vows to improve infrastructure, power and security

In a statement by his Senior Special Assistant on Media and Publicity, Malam Garba Shehu, in Abuja on Tuesday, President Muhammadu Buhari restated his administration’s determination to restore the country to the “good old days of accountability”. The president  spoke at a meeting with the Director, Global Upstream of Shell Oil Company at the State […]

Continue Reading

CBN disburses N64.7billion power intervention fund

Ayo OlowoLeave a Comment on CBN disburses N64.7billion power intervention fund

The Central Bank of Nigeria (CBN), revealed it has so far disbursed N64.7 billion of the N213 billion appropriated for power sector intervention. The money was earmarked in February to tackle the poor power supply in the country. Mr Boma Benebo, Deputy Head, Infrastructure Development Finance Office, CBN, disclosed this after inspecting 62,021 prepaid meters […]

Continue Reading