Power Sector And Other Related News Stories For Friday November 24th 2023

Posted by News Room November 24, 2023

Lagos Backs Power Sector Deregulation

The Lagos State Government, on Thursday, said it was in full support of the Federal Government’s attempt at full liberalization and deregulation of the power sector.

The Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, said power was needed to drive and sustain economic growth in the country.

Speaking at a one-day symposium organized by the Lagos State Cooperative College, with the theme: “Venturing into Power Sector: The Electric Cooperative Model,” held in the Agege area of Lagos, Ambrose-Medebem said, “Power is needed to drive and sustain economic growth and as such, the current attempt at full liberalization and deregulation of the power sector is highly welcomed.”



40% Electricity Access: Federal Govt Charges Power Institute On Collaboration

With only 40 per cent of Nigerians having access to electricity in the country, the federal government has charged members of a newly inaugurated power institute to collaborate to boost supply.

Speaking, while inaugurating the Chartered Institute of Power Engineers of Nigeria (CIPEN), in Abuja yesterday, minister of Power, Adebayo Adelabu, who attributed the low level of access to low power generation, said the situation demanded necessary input and attention from all stakeholders.

The minister said that it’s against this background that the administration of President Bola Ahmed Tinubu elicited a lot of reforms in the industry leading to the signing into law the Electric Power Reform Act 2023 which gives authority to states to generate, transmit and distribute power.



Nigeria Gets N10b Power Investment as FG Insists on Renewable

The Federal Government, yesterday, said off-grid solutions would be prioritized, as over 92 million people are without access to electricity. At the groundbreaking of a 900KW interconnected solar hybrid mini grid in Abuja, Minister of Power, Adebayo Adelabu, said energy poverty remained a concern in the country, adding that renewable energy would be prioritized amid the challenges of the national grid and climate change.



Electricity Act 2023 and the Nigerian Electricity Supply Industry (NESI)

The Electricity Act, 2023, (“the Act”) was signed into law by His Excellency, President Bola Ahmed Tinubu, GCFR, on 6 June 2023. The Act was passed in light of the Federal Government’s initiatives to accelerate Nigeria’s energy transition process as well as consolidate the regulation of the Nigerian Electricity Supply Industry (NESI) for optimum functionality and effective service delivery.

Essentially, the Act, repeals the Electric Power Sector Reform Act, 2005, consolidates the laws relating to the NESI, and provides a comprehensive and institutional framework for the power sector in Nigeria. Areas covered by the Act include electricity generation, transmission, distribution, supply, trading, system operations, electricity offences and the enforcement of consumer rights and obligations. It also makes provision for a holistic integrated resource plan and policy that recognizes all the sources for the generation, transmission and distribution of electricity, including the integration of renewable energy into Nigeria’s energy mix.



Plateau Assembly Passes Bill for Local Electricity Regulation

Plateau State House of Assembly has passed into law the bill to provide for the creation and administration of the Plateau State Electricity Market 2023.

The bill which was passed after the consideration of a report by the Chairman, House Committee on Water Resources and Energy, Hon. Joseph Nannim Langyi.

Hon. Langyi, who is also the Deputy Chief Whip and member representing Langtang North-north State Constituency said the bill sought to establish a Commercial and Technical Regulatory framework for Plateau State Electricity market.



Nigerians Thrown Into Darkness Over Inability to Load Electricity Tokens, DisCos Keep Mum

Many Nigerians are currently experiencing hardship and inability to load tokens on their prepaid meters, findings by Ripples Nigeria have shown growing anger and outrage on several social media platforms.

It has been different tales of woes from Nigerians who have been thrown into darkness because of the inability to load tokens on their prepaid meters.

More worrisome is the graveyard silence from the Electricity Distribution Companies involved like Ikeja Electric, (IE), Ikeja Electricity Distribution Company (IKEDC) and others to address the issue as repeated calls, messages and emails to their customer care lines have gone unanswered.



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