At the conclusion of the first phase of the power sector privatisation programme, which was marked with the formal handing over of the 10 successor companies of the Power Holding Company of Nigeria (PHCN) on the November 1st 2013, there was a very high de
United Bank for Africa Plc (UBA) has extended US$700 million (N113 billion) in funding to different investors towards the acquisition of power assets in Nigeria's recently privatized power sector. Phillips Oduoza, Group Managing Director and Chief Executi
The Federal Government on Monday drew the curtains on the privatization of the successor companies to the Power Holding Company of Nigeria (PHCN) with the formal handing over of the remaining two – the Kaduna Distribution Company and Afam Generation Compa
Lafarge Cement WAPCO Plc, Nigeria’s second-biggest cement producer, plans to sell about 40 megawatts of excess power to the national grid to improve power supply in the country. The, General Manager, Michael Awanayah said this at the West African Power In
Transcorp Ughelli Power Limited (TUPL), a subsidiary of Transnational Corporation of Nigeria Plc (Transcorp) today officially took physical ownership of Ughelli Power Plc, the owner and operator of the 1000MW capacity Ughelli Power Plant following a hando
Investment in Ghana’s hydrocarbons sector has boomed over the past six years, with capital inflows helping stoke headline growth in the double digits. The performance of oil and gas exploration and production (E&P) activity has been robust, but passage of
Latest power sector poll results released by NOIPolls Limited for the 3rd Quarter of 2013 has revealed that more Nigerians experienced slight improvements in their power supply in Q3 (38%) compared to Q2 2013 (33%). Similarly, the proportion of Nigerians
Nigerian banks would need the support of institutional and foreign investors to fund the huge resources needed to drive various ongoing infrastructure projects, especially the over $8 billion required to meet the deficit in the power sector for the next 1
In what has been described as a historic handing over and a milestone in the power sector reform process, President Goodluck Jonathan on Monday, handed over share certificates and licenses to the 14 new owners of the power distribution companies (discos)
Energynet Ltd will be hosting the inaugural Power Investors Summit Nigeria, this coming 2 4 October 2013, at the Lagos Oriental Hotel, Victoria Island. This senior level industry engagement, endorsed by the Honourable Minister of Power, Prof Chinedu Neb
President Goodluck Jonathan said Monday in Abuja with the successful conclusion of the sale of the country’s power generation and distribution companies, Nigerians will soon begin to enjoy the positive benefits of the privatization of the sector.
TUNIS, Tunisia, July 24, 2013/ -- The Board of Directors of the African Development Bank (AfDB) yesterday approved a senior loan of up to 50 million euros to finance the CIPREL Power Expansion Project to increase the existing plant capacity by 222 MW and
The series of Power Sector Polls conducted by NOI Polls Limited in the second quarter of 2013 has revealed that an average of 47% of Nigerian adults said that electricity supply was poor or went from bad to worse. The results also indicate that about 8 in
The African Development Bank (AfDB) (http://www.afdb.org) will, as part of its support for U.S. President Barack Obama’s Power Africa initiative, deepen and expand its work in reforming the energy sector.
DAR ES SALAAM, Tanzania - As part of his commitment to deliver affordable and accessible power to the continent, African business leader Tony O. Elumelu is committing US$2.5 billion to the power sector in Africa. The investment is being made through his p
Demonstrating its commitment to bringing viable solution to the development and transformation of the power sector in Nigeria, the Niger-Delta Power Holding company organized a roadshow on 'Bridging the power gap for sustained economy'.
The Federal Government on Thursday signed the Share Purchase Agreement (SPA) and twelve other documents with fourteen (14) core investors that won bids for 15 successor companies carved out of the Power Holding Company of Nigeria (PHCN)preparatory to the
The Government of Nigeria (GON) yesterday sealed a $1billion (N158 billion) deal with General Electric (GE) USA to boost the power sector in the next five years; underlined by the agreement to establish a manufacturing/assembly and training facilities in
Transnational Corporation of Nigeria Plc (Transcorp) and General Electric (GE), today signed a framework agreement to collaborate in addressing the infrastructural needs of Nigeria, with emphasis on the power and transportation sectors.
The Bureau of Public Enterprises, BPE, is today organising the formal commercial bids opening for 11 distribution companies (DISCOs), which are successor companies of the Power Holding Company of Nigeria, PHCN.
The National Council on Privatisation (NCP) of Nigeria today, announced the preferred bidders for five state power generation plants, part of plans to privatise the country's electricity sector to boost growth in Africa's second largest economy.
The Nigerian Bureau for Public Enterprises (“BPE”) , following the conclusion of its evaluation of the commercial bids for the privatization of some of the power generation companies created from the unbundling to the Power Holding Company of Nigeria (PHC
A cardinal objective of power sector roadmap created by the current administration in August 2010 to help implement the Electricity Power Sector Reform Act of 2005 is the sustained improvement of electricity service delivery throughout the transition peri
In a move to give renewed impetus to his administration’s drive to significantly improve power supply across the nation, President Goodluck Ebele Jonathan Wednesday recomposed the Presidential Action Committee on Power and the Presidential Task Force on
A new electricity tariff is set to commence in Nigeria in less than 24hrs despite the huge outcry from a large number of Nigerians. Barring any unforeseen challenges, the payment of a new tariff regime under the multi-year tariff order 2 (MYTO-2), as app