Power Sector And Other Related News Stories For Friday August 11th 2023

Posted by News Room August 11, 2023

El-Rufai, Tinubu’s Sure Bet to Revamp Nigeria’s Power Sector

A Public Affairs Analyst, Mr Dan Kunle, has said that the state of the nation’s power sector will need the knowledge and person of Mallam Nasir El-Rufai to revamp it.

He also said President Bola Tinubu will need El-Rufai to achieve his aim of revamping the power sector for national industrialisation and productivity.

Dan Kunle spoke on Thursday as a guest on LEADERSHIP TV, our sister digital platform.

He emphasised that El-Rufai’s previous contribution to the power sector reform around year 2000 was the driving force behind the sector’s transformation.

He, however, lamented that subsequent policy somersaults eroded the gains engender by the immediate-past Kaduna State governor.



IBEDC, Electricity Workers Sign New Condition of Service

The management of Ibadan Electricity Distribution Company (IBEDC) and its in-house electricity workers’ unions have signed a new condition of service to improve employees wellbeing and productivity.

Speaking at the signing ceremony at IBEDC office, Ibadan, on Thursday, Managing Director, IBEDC, Mr Kingsley Achife, said the new condition of service had been carefully drafted.

Achife said the new condition of service would create harmonious balance between management’s goal and employees wellbeing.

He noted that the Electricity Act signed by President Bola Tinubu would bring complexity of business environment and competition in the industry.



Bringing Gas Under Power Ministry Can Help Resolve Nigeria’s Power Problems

Former presidential spokesperson, Laolu Akande, has thrown his weight behind an idea for the restructuring of ministries under President Bola Tinubu, especially the merging of the gas and power sectors of the economy under the same ministry.

Akande argued that moving gas to the power ministry is a good idea that can help solve the perennial power problem in the country, while also improving the economy.

While speaking during the Channels TV Politics Today programme anchored by Seun Okinbaloye on Tuesday, August 8, 2023, the then spokesman to the former Vice President of Nigeria, Prof Yemi Osinbajo, SAN, said “Anyone who’s trying to take a fresh look at some of the challenges might actually have the option of re-designating and re-arranging and re-structuring some of these ministries in order to deliver result.”



Closing The Energy Gap Across The Nation

Ahmad Salihijo Ahmad, Managing Director/Chief Executive Officer of the Rural Electrification Agency of Nigeria, REA,  is a Nigerian engineer and renewable energy advocate. In the last three years, his agency has strengthened its mandate while working in line with the federal government’s objective of delivering clean and sustainable energy infrastructure nationwide, under the Federal Ministry of Power. As a critical agency in the nation’s energy sector, REA is positioned as an implementing tool for improved energy access amongst the unserved and the underserved. In this interview with MARY NNAH, Ahmad reveals that through the agency’s deliberate collaboration with key stakeholders in the nation’s off-grid space, it has greatly improved productive collaborations with private sector players and has equally succeeded in positioning the agency for a deeper level of impact on livelihood



Review Of The Electricity Act 2023 And Its Implication On The Nigerian Electricity Supply Industry (NESI)


1.1. The Electricity Act, 2023 (the “Act“) was signed into law on the 8th day of June 2023 by the President of the Federal Republic of Nigeria.
1.2. The Act, among other things, repealed and replaced the Electricity and Power Sector Reform Act, 2005 and seeks to provide a comprehensive legal and institutional framework for the power sector in Nigeria in the areas of electricity generation, transmission, system operation, distribution, supply, trading and to stimulate the contribution of renewable energy to Nigeria’s energy mix. It is expected that this will create an enabling environment to attract investment in the Nigerian Electricity Supply Industry (NESI).
1.3. This work sets out the key provisions, changes, and implications of the Act on the power sector in Nigeria.



Global Energy Transition to Affect Nigeria’s GDP

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe has stated that the global energy transition program would affect Nigeria’s Gross Domestic Product (GDP), which currently stands at $477.39billion for 2022.

It said this is because the economy depends largely on the revenues from the oil sector.

He spoke while delivering his Keynote address at the Energy Year Nigeria 2024 annual book launch themed ‘Innovation in the Nigeria Oil and Gas Upstream Industry: A Catalyst for Growth and Development in Nigeria Economy’ in Lagos on Thursday.



World Bank to Aid in The Construction of 1,000 Minigrids in Rural Nigeria

The World Bank continues to show its commitment to expanding rural electrification across Nigeria. Ajay Banga, World Bank president, recently revealed that the organization will partner with the Nigerian government and the private sector to construct 1,000 minigrids in the country.

Having already funded around 150 minigrids in the West African Nation, the World Bank is now aiming much higher. “We are putting another 300 in, but our ambition with the government is to go all the way to 1,000. We’re talking about hundreds of millions of dollars that are being invested,” Banga said.




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