Nigerians Spend N7trn Yearly On Power Generation       Nigerians, and by extension, their businesses, expend about N7 trillion annually on power generation, a Renewable Energy expert, Mr Stephen Ogboko, has said. Ogboko, also the Executive Director and Chief Operating Officer, Off Grid Tech Solutions Ltd., made this...

Power Firms Still Unable To Deliver Despite N1.5trn Funding       The power firms, mostly private entities, may have gotten about N1.5 trillion funds from the Central Bank of Nigeria (CBN) in the past seven years, helping the sector stay afloat. However, experts and power consumers are worried...

Electricity Consumers Await Revised Tariff Today       Electricity consumers are expecting a new tariff decision today that will be active for the next six months barring changes by the Nigerian Electricity Regulatory Commission (NERC). NERC had in April 2021 announced that it was reviewing the Multi Year...

Electricity Subsidy Gulps N30bn Monthly - FG       The amount spent on subsidising electricity every month in Nigeria is now about N30bn, the Federal Government has said. It disclosed that the government’s subsidy on electricity had been reduced by N20bn monthly following improvements in the collection of...

Meter Manufacturers Demand Price Hike Over Devaluation     A total of 17 manufacturers of electricity meters are demanding an increase in the cost of the commodity following the rise in inflation and foreign exchange rates, among other economic variables. The meter producers under the aegis of Meter...

FG Borrowed N1.3trn In Four Years To Subsidise Power Consumers - W/Bank     The Federal Government has borrowed a total of N1.3tn since 2017 to ensure that generation companies and gas suppliers received enough payments to continue generating electricity, the World Bank has said. The bank said...