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...
The N44.5bn electricity debt owed by the military is weighing on the activities of power distribution firms across the country.
Daily Trust findings show that the Army, the Navy and the Air Force owe a cumulative debt of N22bn between 2013 and 2016.
There is also...
The Minister of Power, Works and Housing, Mr Babatunde Fashola, has advised power Distribution Companies (DISCOs) to patronise local meter manufacturing companies in the country.
He gave the advice while inaugurating the Mass Meter Deployment programme in Kano.
The minister said such patronage was necessary to...
