Power Sector And Other Related News Stories For Monday August 14th 2023
Niger Debt Makes Compensation for Electricity Cut Doubtful
Debts for energy supplied by Nigeria amounting to over $5 million may stand in the way of any claim for breach of contracts following Nigeria’s decision to cut off its power source in line with sanctions imposed by the regional bloc.
A review of the latest quarterly electricity sector performance report published by the Nigerian Electricity Regulatory Commission (NERC) shows that Niger is owning $5.48 million for energy already supplied and was already contemplating adding some pressure to compel it to pay.
We Spend N75m Monthly on Electricity Provision — BUK VC
The Vice Chancellor of Bayero University Kano (BUK), Professor Sagir Adamu-Abbas, has lamented the high cost of running the institution as a result of the energy crisis in Nigeria, especially the payment of electricity bill and purchase of diesel which he said cost the university approximately 75 million monthly.
This is just as he disclosed that the University has reviewed its 30 percent of the new Core Academic Minimum Academic Standards (CCMAS) for Nigerian universities to boost skill acquisition of students and employability graduates from the institution.
FCMB Offers N10M Clean Energy Loan to Households, Small Businesses
Nigerian households and small businesses looking to acquire solar panels, batteries, inverters, and other green energy equipment now have access to as much as N10 million to buy these assets through the First City Monument Bank (FCMB) Energy Finance Loan.
The loan is designed to help homes and small businesses like hospitals, schools, restaurants, bars, stores, hotels, and fashion places keep life and work going by using clean energy.
Commenting on the Energy Loan product, the Managing Director of FCMB, Mrs. Yemisi Edun, described it as, “another bold intervention by the lender to unlock the potential of the renewable and clean energy sector, provide relief to Nigerians, and encourage clean energy.”
Eko DisCo Laments Rising Cases of Vandalism
The Eko Electricity Distribution Company (EKEDC), has lamented incessant third party breach of its assets, calling on communities hosting vital infrastructures and security agencies to support the company by broadening engagement that will eliminate such acts.
The DisCo disclosed that it has invested extensively in upgrading of equipment within its network to improve service delivery.
Chief Executive Officer, EKEDC, Dr. Tinuade Sanda, disclosed this during its Ijora District customers engagement forum in Lagos at the weekend. The customers at the forum were drawn from Yaba, Iganmu, Ota, Onike, Surulere and Aguda areas.
Power tussle: Niger Could Cut 70% of Nigeria’s Demand
Load shedding and power cuts have worsened in the Republic of Niger since Nigeria disconnected the landlocked country from its electricity grid, and pressure from its people is forcing the government into searching for alternatives.
Supply from Nigeria accounts for 70 percent of the electricity used in Niger. Under a bilateral agreement, Niger buys electricity from Nigeria to augment its own meager production.
Following a military coup that deposed the country’s President Mohammed Bazoum, the Economic Community of West Africa applied sanctions to the coupists, which include disconnecting their power lines from Nigeria’s electricity grid.
NDPHC Explains Supply Disruptions To Eko DisCo, Aba Power
The Niger Delta Power Holding Company Limited (NDPHC) has advanced explanations on why Eko Electricity Distribution Company (Eko DisCo) and Aba Power Limited Electric (APLE) experienced few days of power allocation shortfall and consequently, disruptions in electricity distribution to its respective franchise customers, attributing it to scheduled maintenance on gas facilities being executed by its gas suppliers.
The gas suppliers of NDPHC are Seplat and Chevron Nigeria Limited (CNL), implying that should there be any disruption of operations in the two companies, NDPHC power supply will be affected.
Nigeria to Grow Low Refining Capacity in 12 Months
Managing Director and Chief Executive Officer, Aradel Holdings, Mr. Adegbite Falade, said the company’s modular refinery would start producing premium motor spirit (PMS) within 12 months.
The move, according to him, is in line with the company’s commitment to local content development and diversification of the Nigerian economy.
Adegbite disclosed this during the company’s rebranding and 30th anniversary of its incorporation held in Lagos.