Power/Energy

Lekki, Oct. 17, 2024 – Adebayo Adelabu, the Minister of Power, has blamed outdated infrastructure for the incessant collapse of the national grid in Nigeria. Adelabu made to the observation in Lekki on Wednesday at the inauguration of Hexing Livoltek, an electricity meter manufacturing company. He said the constant collapse of the national grid in Nigeria was inevitable in Nigeria due to the deplorable condition of the country’s power infrastructure. The minister said the solution for stable electricity across the country was to have many power grids across the country. …

Abuja, Oct. 15, 2024 – The Transmission Company of Nigeria (TCN) has assured of full restoration of the national grid as soon as possible. It said efforts to fully recover the national grid were almost completed after the partial disturbance on Monday. Mrs Ndidi Mbah, its General Manager (Public Affairs), said in a statement on Tuesday that the recovery process commenced swiftly, with Azura Power Station providing the necessary black start. She said by 10:24 a.m. on Tuesday, the grid recovery had reached advanced stages, in spite of encountering a …

Lagos, Oct. 15, 2024 – Nigeria recorded another collapse of the national grid on Monday evening. It was the sixth collapse of the national grid this year. The system collapse occurred by 18:48, but was reactivated by 6.30 am on Tuesday. .The Abuja Electricity Distribution Company (AEDC) confirmed the incident in a statement posted on its X handle. The statement read: “Dear valued customer, please be informed that the power outage being experienced is due to a system failure from the national grid at 6:58 p.m. today, affecting the power supply …

Lagos, Oct. 15, 2024 – Transcorp Power Plc, one of the power subsidiaries of Transcorp Group, has announced its financial results for the third quarter of the year ending September 30, 2024, demonstrating remarkable growth across the business. In its Q3 2024 unaudited results filed with the Nigerian Exchange (NGX), Transcorp Power reported revenue of N223.6 billion, representing a significant 153% growth year-on-year, over N88.4 billion in Q3 2023, Highlighting operational efficiency, profit before tax for the period surged by 198%, recording N81.1 billion, compared to N27.3 billion in September …

Abuja, Oct. 14, 2024 – Electricity Distribution Companies (Discos) in Nigeria realised total revenue of N431.16 billion in the second quarter of 2024. This was out of the N543.64 billion bill sent to customers during the period, reflecting a collection efficiency rate of 79.31 per cent. The Nigerian Electricity Regulatory Commission (NERC) disclosed this in its Second Quarter 2024 Report It reported that revenue generated by the Discos in second quarter of 2024 compared favourably with their total revenue of N291.62 billon collected out of the N368.65 billon billed customers …

Abuja, Oct. 4, 2024 – The Tinubu Media Volunteers (TMV) has hailed the federal government’s approval of a N112bn funding for the development of Nigeria’s gas sector as a bold move toward entrenching a future of clean energy in the country. The group said this in a statement signed by its Chairman Chukwudi Enekwechi and Secretary Sunday Shedrach Gyungoun. It said it was enthused that the government was partnering with indigenous companies to revolutionise the sector. “We note with excitement the release of N122 billion by the federal government to …

Abuja, Sept. 30, 2024 – More than 40% of Nigerians now enjoy over 20 hours of electricity daily. Adebayo Adelabu, the Minister of Power, said this in a statement on Sunday. He said this was achieved through federal government’s efforts to provide stable electricity to households and industries across the country. The minister said this was made possible by increased power generation which had exceeded 5,500 megawatts. He promised further improvements in the power generation before the end of the year. “Upon resumption, we had an installed generation capacity of …