Power Sector And Other Related News Stories For Tuesday April 30th 2024

Posted by News Room April 30, 2024

Nigeria Must Spend $10bn Yearly Till 2034 To Revive Power Sector — Minister

Nigeria’s power sector woes will require a yearly expenditure of $10 billion until 2034 to be addressed, according to the Minister of Power, Mr Adebayo Adelabu.

The minister admitted that there was a huge infrastructure gap in the power supply chain, which the federal government lacked the financial muscle to shoulder alone.



Ukrainian Company Set To Invest In Nigeria’s Energy Sector

A Ukrainian company, EDS, has started the move to invest in Nigerian energy sector.

The Director of the company, Zapyshynyi Olexandr, addressing a press briefing in Abuja on Monday, said the company was already mapping out strategies on how to go about the project.



Despite Tariff Increase, Nigerian Govt To Subsidise Electricity With N2.8trn In 2024 – Minister

The Minister of Power, Adebayo Adelabu, says the federal government needs about N2.8 trillion to subsidise electricity and avoid increment in electricity tariff for the rest of the year.

The minister stated this on Monday when he appeared before the Senate Committee on Power to discuss increment in electricity tariff.



Senate Begins Investigative Hearing On Electricity Tariff Hike

The Senate has commenced an investigative hearing on the increase in the electricity tariff in 11 states in Nigeria.

At the ongoing meeting at the Senate wing National Assembly on Monday, the Red Chamber also stated that it would punish anyone or agency it found culpable of adding to the burden and sufferings of Nigerians.


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