The Managing Director, Niger Delta Power Holding Company (NDPHC), Chiedu Ugbo yesterday lamented that the over N105 billion debt being owed the firm is affecting its operation. He said other challenges bedeviling the firm, include low pace of work, vandalism of projects and the failure...

The Chief Executive Officer of Frontier Oil Limited, Mr. Dada Thomas, has warned that the nation’s power sector risks collapse, urging the Federal Government to act fast. He stressed the need to address the problem of gas production as 80 per cent of current and...

The Central Bank of Nigeria has unveiled sanctions grid to Deposit Money Banks participating in the disbursement of the N213bn Nigeria Electricity Market Stabilisation Facility, popularly called power sector intervention fund. The sanctions were contained in a five-page circular posted on the CBN website on...

ABUJA Electricity Distribution Company, AEDC, has stated that its indebtedness to electricity generating companies, GENCOs, was not deliberate and blamed the development on challenges confronting the power sector. Director, Corporate Services, AEDC, Mr. Abimbola Odubiyi, in an interview in Abuja, attributed the indebtedness to...

Power distribution companies have said they are currently losing over N1bn every month as a result of limited electricity evacuation capacity of the Transmission Company of Nigeria. According to the Discos, the poor transmission infrastructure in Nigeria is a major contributory factor to the liquidity...

The Association of Nigerian Electricity Distributors (ANED) said that it has appealed against the judgment of a Lagos Federal High Court annulling the 45 per cent electricity tariff hike. ANED is the association of the 11 Electricity Distribution Companies (DISCOs) operating in Nigeria. A Federal High Court...