FG Offsets $120 million Debt to GasCos
The Nigerian government has paid over $120 million to offset some of the debts owed...
Power
EU Announce Plans to Invest €37m in Nigeria’s Power Sector
The European Union (EU) has disclosed plans to invest additional €37 million to boost hydro...
FG Commissions Additional 300KWp Power Project
The Nigerian government on Thursday commissioned a 300KWp Solar PV pilot project in Kainji, Niger...
Nigeria Plans N450bn Power Intervention Fund
The Federal Government is set to spend N450bn on power interventions in 2024. This is...
FG Approves Completion Of Zungeru Hydroelectric Power Plant Concession
In a bid to ensure better service delivery in line with the Renewed Hope Agenda...
InfraCorp Signs MoU to Build 1GigaWatt Solar PV Manufacturing Plant in Nigeria
The federal government of Nigeria through Infrastructure Corporation (InfraCorp) has put pen to paper on a Memorandum...
Geregu Power Posts 42% Rise in Revenues, as PBT Hits N17.4b
Geregu Power, an electricity generation company, has announced an impressive 42 per cent increase in...
Nigeria Needs $3.5bn To Generate 40,000MW by 2030 –FG
The Federal Government has revealed that Nigeria needs a $3.5 billion investment annually to generate 40,000MW of electricity by 2030. The Minister of Power, Engr. Abubakar Aliyu disclosed this at the investor match-making event, which the Rural Electrification Agency (REA) organized in Abuja. Speaking through the Ministry’s Director of Investment, Mrs. Eyo Babalola, he noted that the ministry is the fulcrum of the actions with which the government is transforming the industry from a public to a private sector-driven one. The Minister said that with the recent legislation that has empowered State Governments to generate and distribute electricity, there are limitless investment opportunities in the sector. The MD of REA Engr. Ahmad Salihijo informed the Rural Electrification Fund (REF) is undergoing some slight reforms to work with private investors for impact financing. He explained the essence of the reform was to ensure there is a revolving fund that could suffice when there are non-viable areas.
NCP Approves MESL As Preferred Bidder For Zungeru Hydoelectric Power Plant
Also Approves Merger of Egbin Power Plant With KEPCO The National Council on Privatisation (NCP)...
Geregu Power Inflated Valuation Spurs Stock Manipulation Fears
The fundamentals of Geregu Power, a Nigerian power generating (GENCO), with a Market Capitalization of N548 billion,...
