Power Sector And Other Related News Stories For Thursday November 2nd 2023
Presidential Power Initiative Improves Electricity Supply – Operators
The Presidential Power Initiative of the Federal Government is removing constraints in the power sector and making sure that more electricity is produced, generated and transmitted to end users, operators in the industry have stated.
Stakeholders in the sector disclosed this at a briefing in Abuja to mark the 10th anniversary of the industry, where they revealed plans to bring major industry players together this week, through a golf tourney to ensure synergy in the sector.
They stated that though the industry still had its shortcomings, the introduction of the PPI had helped in boosting power supply.
In 2018, former President Muhammadu Buhari established the FGN Power Company as a Special Purpose Vehicle to deliver the Presidential Power Initiative in partnership with Siemens.
https://punchng.com/presidential-power-initiative-improves-electricity-supply-operators/
Electricity Subsidy Beneficial to Rich Nigerians, Says NERC
The current state of the Nigerian power sector characterised by tariff subsidy mostly benefits the relatively rich as more rich people are connected and consume more electricity, according to the Nigerian Electricity Regulatory Commission.
According to the 2022 Market Competition Report newly released by the Commission, 79 percent of the richest group and 68 percent of the high-income group are connected as compared to the poorest and low-income groups with 21 percent and 41 percent connection rates, indicating that more top-income groups are connected than low-income groups.
It was estimated by the World Bank (2021); that 59.5 percent of the distribution of the tariff subsidy goes to the richest 20 percent of the households; while only 1.5 percent benefits the poorest 20 percent.
https://punchng.com/electricity-subsidy-beneficial-to-rich-nigerians-says-nerc/
NESI @10: Sahara Group’s GMD, Kola Adesina Charts Pathway to Power Sector Recovery
The Group Managing Director of Sahara Group, with interests in Egbin Power and Ikeja Distribution Company (Disco), Mr Kola Adesina, yesterday listed several actions that must be taken by stakeholders for Nigeria’s beleaguered power sector to begin its journey to full recovery.
The businessman whose company also has stakes in the upstream and downstream petroleum industry, spoke on the last day of the Nigerian Electricity Supply Industry (NESI) roundtable in Abuja to mark the 10th anniversary of the partial privatisation of the power sector.
According to Adesina, one thing that must be done is that if the government must subsidise, this should be directed to the production of power.
Egbin Power Expresses Commitment to Sustainable Progress
As the Nigerian Electricity Supply Industry (NESI) commemorates its 10th anniversary of privatization, Egbin Power Plc has described the milestone as a decade of trajectory progress of the power plant, resulting in greater contribution to the nation’s socio-economic growth.
The GenCo, while commemorating the occasion, attributed the achievement over the decade to the unwavering commitment of the Board, Management, and staff as well as massive support from partners in the power sector value chain. while emphasizing its renewed commitment to continue to contribute to the sustainable development of the sector.
https://www.vanguardngr.com/2023/11/egbin-power-expresses-commitment-to-sustainable-progress/
Nigeria Still Has an 8-Million-Meter Gap Which Hampers Liquidity – Bayo Adelabu
Nigeria still has an 8-million-meter gap which hampers liquidity. This is according to the country’s minister for Power, Bayo Adelabu.
He said this during a recent interview via Arise News while discussing the post-privatization of the power sector 10 years later.
According to him, the country’s metering gaps are making collection difficult, and this has given rise to liquidity issues.
Solar Mini-Grids Offer Clean-power Hope To Rural Africa
Working as a nurse in her rural Nigerian village, Andat Datau faced more than her share of challenges. But delivering babies by torchlight was always hard.
Off-grid for years, her Sabon Gida village relied on diesel generators or lamps and, like millions of other Africans, Datau often got no light at all.
But a year ago, Datau’s village in north central Nasarawa State hooked up to a solar-powered mini-grid supplying half of her community’s households and most businesses with almost constant electricity.
https://www.barrons.com/news/solar-mini-grids-offer-clean-power-hope-to-rural-africa-19bef37d
