An updated metering report in the power sector has said only 161,640 customers got meters between January and October 2016. Most of the 11 electricity Distribution Companies (DisCos) may not attain their annual target of installing 100,000 meters this year due to foreign exchange crisis...

The President, Nigerian Gas Association (NGA), Dada Thomas lamented that players in the gas industry are running out of cash as a result of the N110 billion debt customers are owing gas producers. Thomas, who is also the Managing Director, Frontier Oil Limited, spoke to...

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...

• Unable to service N402b debt The improvement in electricity supply in recent times may be short-lived. This has nothing to do with low generation output when the rains stop or the vandalised gas pipelines, which have not been fixed. Rather it is the huge...

•CBN, NBET, huge debts, forex, vandalism blamed for woes •NBET: We’ve paid N186bn •CBN: GENCOs haven’t met conditions for disbursment Nigerian Bulk Electricity Trading Plc, NBET said it has paid N186.7billion to Electricity Generating Companies GENCOs saying it is only owing them about N156 billion. Reacting to the...