Power Sector And Other Related News Stories For Monday April 22nd 2024

Posted by News Room April 22, 2024

Incessant Electricity Grid Collapse

On Monday, April 15, 2024, Nigeria’s electricity grid collapsed. It did so for a record six times since the year began. According to the International Energy Agency, IEA, Nigeria’s power grid collapsed 46 times between 2017 and 2023. On June 1, 2016, a complete grid collapse was recorded after eleven power plants went off line due to lack of gas supply. This is not to add load rejections by distributing companies, DISCOs, occasioned by aging infrastructure.



Cost-Reflective Tariff

The Nigerian Electricity Regulatory Authority (NERC) recently announced a significant 300 percent upward review of electricity costs for Band A customers, with rates soaring from N68 per kilowatt-hour to as high as N225 per kilowatt-hour. NERC cites the concept of “cost-reflective tariff” as the driving force behind this adjustment.



NNPC Reaffirms Goal To Make Nigeria Gas-Powered Nation

The Nigerian National Petroleum Company Limited (NNPC) at the weekend reiterated its commitment to transforming Nigeria into a gas-powered nation, in line with the country’s enormous natural endowment of over 209 trillion cubic feet of gas reserves.

A statement from the national oil company stated that its Group Chief Executive Officer, Mele Kyari , made the remarks when he received the Energy Times’ GCEO of the Year Award in Lagos.



240% Electricity Tariff Hike: Households Brace Up For Tougher Times

Following the 240 per cent electricity tariff hike for Band ‘A’ customers by the federal government, households are now bracing up for tougher times, thereby calling for policy reversal.

Recall that NERC had on Wednesday announced the approval of an increase in the electricity tariff of Band A customers from about N66 to N225 per kilowatt hour for the various distribution companies (DisCos) in the country, which represents an increase of 240 per cent.



NGOs Donate Energy Solutions to Kwara Tech Hub

Akomolafe Foundation and the Governance Advancement Initiative of Nigeria have donated and installed a solar energy system at the Makers and Leaders Hub, a technology hub in Ilorin, Kwara State.

A statement by the Managing Partner of MALhub, Kalmaldeen Kehinde, noted that the donation by the two non-governmental organisations was aimed at addressing the persistent challenge of erratic power supply hindering technological advancement in the region.



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