Power Sector And Other Related News Stories For Thursday April 18th 2024

Posted by News Room April 18, 2024

Transcorp Power Blames DisCos’ Low Capacity for Electricity Export

The Managing Director/Chief Executive Officer of Transcorp Power Plc, Peter Ikenga, has stated that the inability of Nigerian power distribution companies to distribute the electricity generated has been the reason for its sale to neighbouring countries.

He made this disclosure during a virtual presentation of Transcorp Power’s result for the year 2023, saying that the company made 18 per cent of its earnings in the previous year from electricity export.



Why Transcorp Sells Electricity Outside Nigeria

Transcorp, a Nigerian power generation company, has revealed it is exporting excess electricity to neighbouring countries.

This move comes amid challenges within the domestic power sector, specifically the inability of local distribution companies to absorb all the power generated by Transcorp’s plants.



FG Would Subsidize Power Sector With N2.9 Trillion in 2024 Without The Increase in Electricity Tariff – Adelabu 

The Minister of Power, Adebayo Adelabu, has said that prior to the introduction of the upwardly revised electricity tariff the federal was subsidizing about 67% of the power sector, which was expected to amount to N2.9 trillion by the end of 2024.

Adelabu said this during an inter-ministerial briefing in Abuja on Friday.



Peter Obi Warns of Looming Disaster in Nigeria’s Power Sector, Highlights Urgent Need for Pragmatic Solutions

Presidential candidate of the Labour Party (LP) in the 2023 general election, Peter Obi, has expressed deep concerns over Nigeria’s deplorable power situation, saying a sector that has recorded 141 national grid collapse in 11 years calls for urgent pragmatic solutions.



Captured Flared Gas to Be Deployed in Power Generation, Fertiliser Production, Others

The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, yesterday stated that captured  flared gas from the proposed Nigerian Gas Flare Commercialisation Programme (NGFCP) will be deployed for electricity generation, fertiliser and methanol production as well as feedstock for local industries.



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