Idle NNPC Refineries Sell N463.63m Worth Of Electricity       While they did not process a single barrel of crude oil in 2020, Warri and Kaduna refineries earned a total of N463.63m from the sale of electricity, their audited financial statements have shown. The two refineries have a...

We're Targeting 10,000MW Of Electricity From $3bn Interventions - FG       The Federal Government, yesterday in Abuja, said 10 Gigawatts (10,000MW) of electricity is feasible from an investment of $3 billion being made in the power sector. The prevailing situation of the nation’s power sector has rendered...

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...