Power Sector And Other Related News Stories For Friday December 15th 2023

Posted by News Room December 15, 2023

Power Sector Cashflow Grows to N900bn – FG

The Federal Government, on Thursday, announced that the liquidity in Nigeria’s power increased from N282bn in 2015 to N900bn currently, adding that its financial burden in the industry had been reduced by about N373bn.

It disclosed this through the Nigerian Electricity Regulatory Commission at the Ministerial Retreat on the Integrated National Electricity Policy and Strategic Implementation Policy.

Liquidity refers to the efficiency or ease with which an asset or security can be converted into ready cash without affecting its market price. The most liquid asset of all is cash itself.



Restructure of TCN Portends Great Danger to Power Sector – NLC

The Nigerian Labour Congress (NLC) has complained that the proposed plans by the federal government to restructure the Transmission Company of Nigeria (TCN) portends great danger to the nation’s power sector.

In a statement, the Comrade Joe Ajaero, the NLC President lamented that the said proposal is laden with other intentions that may be hidden.

Ajaero therefore stressed that the
President is making the same mistake previous administrations have made with the policy direction his Minister of power is trying to follow in seeking to unbundle TCN for privatization



Kwara Repositioning Energy Sector – Commissioner

The Kwara State Commissioner for Energy, Abdulazeez Kola Abdulganiy, has reiterated the state government’s commitment to repositioning the energy sector by generating power for itself according to the Nigeria Electricity Act of 2023.

He said this will ensure efficiently managed electricity generation, transmission, and distribution that will adequately promote socio-economic growth in the state.

He stated this while receiving the delegation of the National Environmental Standards and Regulations Enforcement Agency, NESREA, on a courtesy visit to his office in Ilorin.



FG to Power Sector Players: We’ll Wield The Big Stick if…

The Federal Government (FG) told key players in the Nigeria Electricity Supply Industry (NESI) on Thursday that it will not hesitate to wield its big stick against non-performance.

The Minister of Power, Adebayo Adelabu, gave the warning while delivering his closing address at the Ministerial retreat on the integrated national electricity policy and strategic implementation plan, with the theme: Navigating and Aligning on the Plan to Enhanced Electricity Reliability.

While stressing the importance of performance, he said the Ministry is currently exploring dialogue options with players along the NESI value chain.



Solar Power Lights Up Learning on Campuses Across Nigeria

Ademola Adeniyi, a third-year student at the University of Lagos in south-west Nigeria, discovered as a first-year that he preferred doing his reading at night in classes on the campus.
The microbiology student found that he could concentrate better during the quieter nights on campus, but an unstable power supply disrupted this study routine in his first year.
Recently, however, there have been some positive developments. Said Adeniyi: “Fortunately, things have improved since the University of Lagos embraced green technology. Now, the campus is powered by solar panels, which provide a reliable and sustainable energy source, even at night.”



60% Of Nigerians Lack Access to Electricity

Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, expressed his dissatisfaction with the alarming condition of Nigerian power sector during his speech on December 12, 2023. He revealed that approximately sixty percent of Nigerians are still deprived of electricity supply, leaving only a fortunate forty percent with access to power throughout the entire country. Expressing dismay at the state of the country’s power sector, the minister criticized its shortcomings.

The revelation was made during an address at the Ministerial Retreat on the Integrated National Electricity Policy and Strategic Implementation Plan in Abuja. The minister emphasized that the government finds the current situation to be completely unacceptable. Edun’s disappointment is palpable as he voices his concerns about the power sector’s privatization that has failed to deliver the intended outcomes. Industry participants have fallen short of expectations in recent years



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