The National Grid suffered its second collapse in just two days on Thursday, November 7, plunging large parts of Nigeria into darkness once again. This latest incident follows a similar collapse on Tuesday, raising fresh concerns over the country’s electricity infrastructure. EDITOR’S PICKS Electricity Meter Costs Rise Again As Deregulation Takes Effect Biden, Harris Set … Read more
The Federal Government has unveiled the preliminary draft of the National Integrated Electricity Policy and Strategic Implementation Plan (NIEP-SIP), a crucial initiative aimed at addressing the pressing challenges within the Nigerian Electricity Supply Industry. This policy is designed to steer the nation toward a resilient, sustainable, and inclusive energy sector that meets the needs of … Read more
FG Unveils Timeline For Transformation In Electricity Supply. Adelabu highlights resistance to power sector improvement due to selfish interests. Minister emphasizes service-oriented tariff increase EKO HOT BLOG reports that Minister of Power, Adebayo Adelabu, expressed dismay over the persisting challenges in the power sector despite the numerous ministers it has seen in the past. Adelabu voiced … Read more
NLC and TUC Issue One-Week Ultimatum to FG Demand Reversal of Recent Electricity Tariff Hike Cite Inconsistent Power Supply, Impact on Economic Progress Eko Hot Blog reports that in a joint address on Wednesday in Abuja to commemorate the 2024 Workers’ Day, the presidents of the Nigerian Labour Congress (NLC) and the Trade Union Congress … Read more
FG To Revoke Meter Contract From Foreign Company. $200 million mobilized, but three million meters still pending. Gas supply shortage hampers power generation despite government debt to suppliers. EKO HOT BLOG reports that the Federal Government has hinted that it might revoke a meter contract awarded to a foreign company named Zigglass Limited. The Minister of … Read more
Senate Summons Power Ministry, NERC Over Electricity Tariff Increase Chairman Senator Enyinnaya Abaribe expresses concern over persistent power challenges Investigative hearing scheduled for April 29, 2024, to address recent tariff hike EKO HOT BLOG reports that the Senate Com\mittee on Power has called upon the Minister of Power, Adebayo Adelabu, and the leadership of the National … 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
As Nigeria prepares for the inauguration of Asiwaju Bola Tinubu as the country’s 16th president, there are key things you need to know. EKO HOT BLOG gathered that ahead of the inauguration, Nigerians have called on the president-elect to take quick actions to tackle critical issues in the country’s economy, security, fuel subsidy and … Read more
The Nigeria Union of Electricity Employees (NUEE) says the Central Bank of Nigeria (CBN)’s directive authorising banks to ring-fence collection accounts of electricity distribution companies (DisCos) in Nigeria is counter productive. Its General Secretary, Mr Joe Ajaero, said on Tuesday in Lagos that the directive would result to operational and over head cost challenges. Read … Read more
World Bank Director for Nigeria, Shubham Chaudhuri on Wednesday approved a $750 million International Development Association (IDA) credit for Nigeria’s Power Sector Recovery Operation (PSRO). Shubham Chaudhuri said ”This is ultimately what is needed to lift 100 million Nigerians out of poverty. “The objective of this operation is to help turn around the power sector and … Read more
In a bid to consolidate the efforts of the Federal and State Governments to fix the power sector, President Muhammadu Buhari has approved the composition of a Power Sector Reform Coordination Working Group, under the leadership of Vice President Yemi Osinbajo (SAN). According to Malam Nasir El-Rufai, chairman of the committee set up by the … Read more
Ekohotblog understands that the Federal Government has set aside the sum of N61bn for the Nigeria Electrification Road map to be developed in partnership with Germany-based Siemens AG. The amount provisioned for the Presidential Power Initiative is one of the key expenditures captured in the 2020-2022 Medium-Term Expenditure Framework but was not included in the … Read more
The Senate president, senator Ahmad Lawan, has raised the alarm over what he described as the biggest fraud ever. Lawan disclosed that the privatization of the power sector in 2005 and 2013, was aimed at defrauding the country. The senate president disclosed this while declaring open a one-day round-table discussion with the theme: “Addressing Nigeria’s … Read more
The House of Representative has raised concerns over the allocation of N127bn to the power sector in the 2020 budget presented by President Buhari. The House Committee on Power raised the concern when its queried the Minister of Power, Mr Saleh Mamman and the Permanent Secretary, Mr Louis Edozien during the ministry’s budget defence on … Read more