Power Sector And Other Related News Stories For Thursday August 24th 2023

Posted by News Room August 24, 2023

Boosting African Industrial Growth With Power Sector Investments

Power is a strategic infrastructure and one of the most important requirements for growing Nigerian and African economies. It is also at the centre of the continent’s prosperous future, which is envisaged to be private sector-led. Getting to that desired future depends largely on providing adequate electricity for running of businesses and unlocking economic potential. Access to electricity enables businesses and industries to operate, makes education widely available, transportation seamless, and society to function efficiently.



I Will Revamp Electricity Sector – Minister

Nigeria’s Minister of Power, Adelabu Adebayo has vowed to revamp the Power Sector leveraging on the Nigerian Electricity Act of 2023, which opened new avenues for power provision and encourages collaboration between public and private sectors.

The Minister disclosed this when he assumed office in Abuja the nation’s capital while pledging his commitment to ensure improvement in the sector.

Adebayo expressed his heartfelt gratitude to President Bola Ahmed Tinubu for giving him the opportunity to serve the country.

He promised that Nigeria would soon experience a 24/7 Electricity Supply across the country.



103 mini-grids built across Nigeria, says rural electrification agency

The Rural Electrification Agency (REA) said it has built about 103 mini-grids nationwide through the Nigeria Electrification Project (NEP) initiative.

Ahmad Salihijo, the agency’s managing director/chief executive officer, disclosed this while speaking during the 10th mini-grid virtual roundtable discussion on Wednesday.

The NEP is a federal government initiative that is private-sector driven and seeks to bridge the energy access deficit by providing electricity to households, micro, small and medium enterprises (MSMEs), educational and healthcare facilities in unserved and underserved rural communities through the deployment of mini-grid, Solar Home Systems (SHS), captive power plants and productive use appliances to ensure sustainability of these off-grid solutions.



NERC Urges Electricity Customers to Update Meters or Face Recharge Issues

The Nigerian Electricity Regulatory Commission (NERC) has called on electricity customers across the country to update their metering devices or face challenges with recharging by next year.

In a message on its Twitter/X handle yesterday, the regulatory agency noted that the process of updating would be free of charge with customers expected to approach the power Distribution Companies (Discos) on how to go about it.

“ If you have a prepaid meter, it may be time for an update. From November, 2024, you may not be able to recharge your meter. However, updating is easy and free.



Electricity Act 2023 As Nigeria’s Game Changer For Industrialization (2)

Following in the footsteps of EKEDC and the proposed initiative of Geregu Power geared towards harnessing the benefits inherent in the Electricity Act 2023, it was anticipated that other DisCos and Generating Companies, GenCos, would also be doing their spade work preparatory to making further investments in their electricity generation and distribution ventures in Nigeria.

That is because they have been major players by virtue of having taken major stakes in the sector following the privatization of some of the public utilities by the Federal Government from 2005 -2013.



REA Deploys World Bank Funded Solar Mini-Grids

The Rural Electrification Agency, REA, yesterday disclosed that it has successfully deployed 103 solar mini-grids across the country through the World Bank funded Nigeria Electrification Project, NEP.

The World Bank is funding the NEP with $350 million. The deployment of the mini-grids across Nigeria under the Performance Based Grant subcomponent of the NEP signalled a crucial advancement in enhancing electricity access for households, micro, small and medium enterprises (MSMEs), as well as public facilities in rural and underserved regions of Nigeria.



El-Rufai, Tinubu’s Sure Bet To Revamp Nigeria’s Power Sector

A Public Affairs Analyst, Mr Dan Kunle, has said that the state of the nation’s power sector will need the knowledge and person of Mallam Nasir El-Rufai to revamp it.

He also said President Bola Tinubu will need El-Rufai to achieve his aim of revamping the power sector for national industrialisation and productivity.

Dan Kunle spoke on Thursday as a guest on LEADERSHIP TV, our sister digital platform.

He emphasised that El-Rufai’s previous contribution to the power sector reform around year 2000 was the driving force behind the sector’s transformation.


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