About three million electricity customers in Nigeria risk falling into estimated billing or experiencing power outages for failing to upgrade their prepaid meters, following the expiration of a government policy deadline on November 24, 2024. Reports indicate that nearly half of the 5.9 million metered consumers are affected. EDITOR’S PICKS Japa: Russia Opens Doors to … Read more
The House of Representatives on Wednesday called for a minimum of N500 billion recapitalisation threshold for the 11 electricity Distribution Companies (DisCos) in the country if they must remain in business. The call is coming amidst concerns that a number of the distribution companies in the country have low financial capacity to make the necessary … Read more
Electricity Distribution Companies (DisCos) in Nigeria have announced another price hike for various electricity meter models, marking the second increase within four months. As of November 5, 2024, single-phase meters are priced as high as N149,800, up from approximately N117,000, reflecting a 28.03% increase. EDITOR’S PICKS NASU, SSANU Strike Nears End As FG Promises Payment … Read more
The Nigerian Electricity Regulatory Commission (NERC) has announced that power distribution companies (Discos) may soon bear the cost of repairing faulty transformers and other infrastructure, a move aimed at ensuring more prudent management of electricity systems. NERC Chairman Sanusi Garba disclosed this during a public hearing on Thursday addressing the frequent collapses of Nigeria’s national … Read more
NLC President Joe Ajaero has criticized the Tinubu administration and DISCOs over the recent electricity tariff hike, demanding an immediate reversal to prevent further economic hardship. EKO HOT BLOG reports that the President of the Nigeria Labour Congress (NLC), Joe Ajaero, has cautioned President Bola Tinubu’s administration and Electricity Distribution Companies (DISCOs) against the recent hike … Read more
NERC has allocated ₦21 billion to DisCos for meter purchases, aiming to close the metering gap and improve efficiency in the Nigerian Electricity Supply Industry. EKO HOT BLOG reports that the Nigerian Electricity Regulatory Commission (NERC) has allocated ₦21 billion to electricity distribution companies (DisCos) for the purchase of meters for their customers. This funding, sourced … Read more
Eko Hot Blog reports that the Ikeja Electricity Distribution Company has announced a reduction in the price of electricity tariff for Band A customers. Ikeja Electricity Distribution Company announced the development on Monday in a memo on its official X account. The Company disclosed that the kilowatt electricity tariff for Band A customers was reduced from … Read more
Just like in other sectors, Nigeria’s power sector faces several challenges. Despite numerous policy interventions by successive administrations, little to no progress has been made. From the era of Nigeria Electricity Power Authority (NEPA) to Power Holding Company of Nigeria (PHCN), and now with Distribution Companies (DisCos), the promised transformation has failed to materialize, leaving … Read more
Eko Hot Blog reports that the house of representatives has asked the Nigeria Electricity Regulatory Commission (NERC) to suspend the implementation of the new tariff. EDITOR’S PICKS JAMB And Candidates: A Case Study Of Nigerian Institutions’ Disdain For Nigerians Price Wars: Naira’s Counterattack And FG’s Bid To Address Escalating Prices EFCC’s Pursuit Of Portable: A … Read more
Eko Hot Blog reports that the Governors of the 36 states have united to address the issue of unreliable power supply in the country. According to reports, the Governors have agreed to take action to break the monopoly held by Discos in power distribution. Editor’s Picks Clean Sweep: APC Secures Landside Victory In Latest LG … Read more
NERC Chairman warns of potential ₦3.2 trillion subsidy burden if electricity tariff hikes are reversed. Financial strains in the power sector highlighted, including issues with gas supply and foreign exchange fluctuations. House Committee on Power acknowledges complexities, emphasizing the need for sustained investment and tariff adjustments. EKO HOT BLOG reports that the Chairman of the Nigeria … Read more
Last week, electricity distribution companies (DisCos) started charging “Band A” customers a new tariff. The new tariff more than tripled the old rate. Despite the promise of providing power 20 hours a day, the DisCos have failed to deliver. Eko Hot Blog reports that electricity distribution companies (DisCos) are struggling to meet up with their … Read more
Eko Hot Blog reports that the Nigerian Electricity Regulatory Commission (NERC), has explained that not all Nigerians would be affected by the recently-announced increase in electricity tariff by the government. The Federal Government, via the Nigerian Electricity Regulatory Commission (NERC), approved an increase of 300 per cent in electricity tariff for some consumers as revealed … Read more
Eko Hot Blog reports the Socio-Economic Rights and Accountability Project (SERAP) has announced plans to sue the government of President Bola Tinubu over the increase in the price of electricity tariff. Recall that had the federal government had earlier announced an increase in the kilowatt price of tariff from about N68 to N225 per kilowatt. … Read more
Eko Hot Blog reports that The Nigerian Government has announced that it has settled $120 million out of the $1.3 billion gas debt. The gas debt has being a major determinant in the unresolved electricity supply challenge plaguing the nation. Recall that the electricity consumers in Nigeria have continued to suffer electricity outages since January … Read more
EKO HOT BLOG reports that the Federal Government has issued a stern warning to power distribution companies (Discos), cautioning them against persisting with estimated billing practices amidst growing frustration among electricity consumers. Addressing investors and owners of Discos in the Nigerian Electricity Supply Industry (NESI) during a meeting in Lagos State, the Nigerian Electricity Regulatory Commission … Read more
Eko Hot Blog reports that Nigeria’s national grid has collapsed to zero megawatts, leading to a total blackout nationwide. Multiple power distribution companies (DisCos) disclosed the significant development in separate statements on Sunday. This is the first time the grid has collapsed this year. The grid had collapsed three consecutive times in 2023. The DisCos … Read more
Eko Hot Blog reports that Electricity distribution companies in the country have denied reports about plans to increase electricity tariffs beginning from January 1 2024. The denial follows some earlier reports which claimed the distribution companies (DISCOs) had concluded plans to hike electricity tariffs beginning from the first day of 2024. However, officials of some … Read more
Eko Hot Blog reports that Nigeria’s Electricity Distribution Companies (DisCos) are reportedly planning to hike electricity tariffs nationwide with effect from January 1, 2024. According to report, a virtual emergency meeting was held recently to formalise and perfect the planned tariff increase. A source in one of the DisCos, who claimed anonymity, confirmed the development … Read more
EKO HOT BLOG the House of Representatives Public Accounts Committee (PAC) on Thursday summoned the 11 Electricity Distribution Companies (DisCos) and the Central Bank of Nigeria over $321 million and N18.2 billion in loans for the accelerated transmission distribution interface, lines and substation projects. The Chairman of the PAC, Bamidele Salam, disclosed this when Engr … Read more