DisCos Generate N466bn in Q3 as FG Shoulders N464bn Subsidy   The federal government incurred the sum of N464.12bn as subsidy payment in the electricity sector for the third quarter of 2024, a report by the Nigerian Electricity Regulatory Commission (NERC) showed. The report stated that the...

DisCos’ Revenue Collection Efficiency Drops by 4.76% in Q3 2024 The Nigerian Electricity Regulatory Commission (NERC) has reported a decline in the revenue collection efficiency of Distribution Companies (DisCos) for the third quarter of 2024. The efficiency rate decreased by 4.76 percentage points, dropping from 79.31%...

Senate Intervenes as FG's Debt to Egbin Power Rises N1.6tn The Senate Committee on Privatisation has pledged to address the N1.6tn debt owed to Egbin Power Plc by the Federal Government. The Chief Executive Officer of Egbin Power Plc, Mokhtar Bounour, earlier disclosed in March that...

Electricity Subsidy Hits N1.91tn in 11 months The monthly spending of the Federal Government on electricity subsidy obligation has reached N1.91tn in the first 11 months of 2024, a new report by the Nigerian Electricity Regulatory Commission (NERC) has disclosed. It also stated that power distribution...

Discos Kick as Reps Demand N500bn Investment or Exit The House of Representatives on Wednesday called for a minimum of N500 billion recapitalisation threshold for the 11 Electricity Distribution Companies (DisCos) in the country to remain operational. In response to this, DisCos have listed the conditions...

NERC Directs DisCos to Provide Free Replacement for Old Meters The Nigerian Electricity Regulatory Commission (NERC) has directed distribution companies (DisCos) to replace obsolete meters for their customers at no cost. This mandate was outlined in a statement released by the regulatory body’s management on Monday. The...