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   Market Date: 23-07-2014   
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  1. Letter to President Obama on the Anniversary of the Power African Initiative

    I wrote an open letter to President Barack Obama, as we mark the anniversary of the power Africa initiative this week. Highlighted is the importance of this initiative, the success we have made so far in its first year, and what my company, Heirs Holding
  2. Nigerian Power: The Way Forward

    It’s Time to Take Nigerian Power Reform Seriously. Despite ongoing challenges ranging from inadequate gas supply to antiquated wiring and transformers, the Nigerian power sector is moving full-steam ahead. During our most recent visit to Lagos, we heard e
  3. 6 IN 10 Nigerian Households received less than 5hrs of Power Supply in Q1 2014

    Power Sector poll results released by NOIPolls Limited for Q1 2014 have revealed that an average of 63% (43%+20%) of Nigerians have experienced no improvement in their power supply, with 43% who experienced a worsened state and 20% having no difference at
  4. Where Are The DISCOs And GENCOs?

    An indigenous opinion research firm working in partnership with The Gallup Poll (USA), NOI Polls, recently confirmed that electricity supply has worsened since November 2013 when the power sector was handed over to new investors. It goes without saying th
  5. Winners emerge for 10 power generation firms

    Top bidders for the 10 Niger Delta Power Holding Company of Nigeria electricity generation firms emerged on Friday as the Federal Government opened the financial bids for the power plants.
  6. Challenging Gas-to-Power infrastructure threatens the declaration of the Transition Electricity Mark

    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
  7. UBA lifts Power Sector Privatization with US$700 million funding

    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
  8. FG completes sale of PHCN’s successor companies

    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
  9. LAFARGE to sell unused electricity to Nigeria

    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
  10. Forte Oil Plc takes over Geregu Power Plant

    Forte Oil Plc has taken possession of the the 414 megawatts Geregu Power Plant following the formal hand over of complete operational control at a brief ceremony.
  11. Transcorp takes over Ughelli Power Plant

    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
  12. Ghana plans new investment in energy sector for 2014

    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
  13. Power supply to households improve slightly in Q3 2013

    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
  14. Banks alone cannot fund the $8bn yearly power needs - FBN Capital Conference

    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
  15. Jonathan Presents Licences, Shares Certificates to 14 New Owners

    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)
  16. Nigeria considers coal to ease power shortage

    An agreement to invest in coal-fired power generation could be a positive move for broadening Nigerias energy mix and strengthening formal grid supply, which lags well behind demand.
  17. Transitioning Nigeria's state owned electricity sector to a private power market

    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
  18. Positive Effects of Power Sector Privatisation will soon emerge – President Jonathan

    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.
  19. AfDB enhances access to reliable and affordable electricity supply in Côte d'Ivoire

    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
  20. 47% of Nigerians Experienced Poor Power Supply in Q2'13

    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
  21. Obama's Power Africa initiative: Reforms key to Power Africa success – AfDB

    The African Development Bank (AfDB) ( 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.
  22. Elumelu's Heirs Holdings Commits USD2.5 Billion to Obama’s Power Africa Initiative

    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
  23. Power sector receives boost hope at NDPH roadshow

    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'.
  24. Angola to 'increase power production five-fold by 2017'

    The Angolan government has announced plans to invest US$17.7mn (AKZ1.7bn) and quintuple the country's power production capacity by 2017
  25. GON finally signs share purchase agreements, to realise $2.32billion

    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
  26. GE and GON sign N150b Power Deal, enters agreement with Geometric for 450mw plant

    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
  27. Transcorp and GE sign agreement on Power & Infrastructure Development

    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.
  28. Update on Winners as BPE opens bids for 11 distribution companies

    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.
  29. NCP Names Buyers of Nigeria’s Five (5) Power Plants – Transcorp , Forte Oil are successful

    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.
  30. Transcorp Consortium wins bid for the acquisition of Ughelli Power Plant

    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
  31. Nigeria: Ensuring a successful power sector privatisation

    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
  32. GEJ reconstitutes Power Sector Action Committee and Task Force on Reforms

    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
  33. The New Electricity Tariff: the benefits and the Fears

    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
  34. Nigeria says GE signs $10 billion power plants MoU

    Nigeria says GE signs $10 billion power plants MoU
  35. Electricity Tariff to Rise by 11%, Says NERC Boss

    Electricity Tariff to Rise by 11%, Says NERC Boss
  36. Nigeria again delays power sector privatisation

    Nigeria again delays power sector privatisation
  37. Nigerian Energy Sector Report – BGL

    Nigerian Energy Sector Report – BGL
  38. NERC to decide on new electricity tariff Thursday

    NERC to decide on new electricity tariff Thursday
  39. FG suspends electricity tariff hike

    FG suspends electricity tariff hike
  40. Regulator issues 21 new power licenses

    Regulator issues 21 new power licenses

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