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...

No Electricity Tariff Increase, Says Power Minister     At the backdrop of rumors of possible hike in electricity tariff, the Minister of Power, Engr. Sale Mamman, has indicated that the ministry is focusing on increased efficiency and not tariff. In a statement made available to Economic Confidential...

'N120bn Intervention Will Address Nigeria’s Electricity Challenges'       Stakeholders in the electricity sector, yesterday, said the Federal Government’s intervention in the power sector, especially efforts being made to address challenges limiting the capacity of distribution companies (DisCos) is necessary to improve electricity supply. The experts also insisted...

FG Spends N568.5bn Yearly On Power Tariff Shortfalls – W/Bank       The Federal Government of Nigeria is spending $1.5bn (N568.5bn at N379/$ exchange rate) annually to fund electricity tariff shortfalls, the World Bank has said. According to the global financial institution, this amount could further increase if...

Nigeria Businesses Lose $29bn Yearly To Poor Electricity – W/Bank       The World Bank on Wednesday said businesses in Nigeria lose about $29bn annually as a result of the country’s unreliable electricity. It also observed that Nigeria had the largest number of people without access to electricity...