Power Sector And Other Related News Stories For Tuesday November 7th 2023

Posted by News Room November 7, 2023

Despite over N3trn Investment, Power Sector’s Average Available Capacity Falls 37% in Seven Years

Despite federal government’s investment in the power sector, exceeding N3 trillion between 2015 and 2022, the average available capacity in the Nigerian Electricity Supply Industry (NESI) decreased by 37 per cent in the seven years spanning 2015 and 2022, new data from the industry regulator has stated.

The “2022 Market Competition Report” released by the Nigerian Electricity Regulatory Commission (NERC) showed that the capacity available fell from 6,401mw recorded in 2015 to 4,059mw in December 2022.



Boosting Power Sector Investment Outlook With Cost-reflective Tariff

Ten years after the partial privatisation of the Nigerian Electricity Supply Industry (NESI), the industry is still grappling with sub-par performance. The national grid only serves about 15 per cent of the country’s demand, leaving households and factories to rely on expensive self-generation, which supplies a staggering 40 per cent of the country’s demand.

Also, over 90 million Nigerians lack access to electricity as the total amount of electricity that can be wheeled through the national grid has remained relatively flat in the last 10 years, with grid capacity increasing from just over 3,000 MW to typically just over 4,000 MW currently versus a 40,000 MW target that the federal government had set pre-privatisation



Nigeria Unplugs From Dirty Generators in Sudden Solar Gamble

Those living in upscale gated communities or working at big companies turn to massive, soundproof diesel generators when the electricity grid inevitably fails. There are the smaller, noisier petrol versions for those who can’t afford to maintain a diesel rig. And at the bottom of the generator hierarchy, found in countless shops and homes, are legions of less capable machines known in Nigerian Pidgin as “I-pass-my-neighbor generators.” The derisive name mocks those who can’t afford even a generator that puts out just enough juice to run fans, turn on lights and charge phones.

The lowest-end generators make up for their deafening roar and abundant fumes with the distinct advantage of portability, allowing users to plug in at home and work. These are the machines Femi Adeyemo has spent years trying to displace with equally flexible and affordable solar technology.



Firm Brings Innovative Solutions to Improve Power Sector

Nigeria, plagued by epileptic power supply, is in dire need of a power revival, and Millwater has proven to be the silent giant spearheading a revolution. Millwater is making it a point of duty to debottleneck the Nigerian power sector through unprecedented and innovative solutions.

With their vast industry knowhow and unique approach to power transactions, the energy solutions provider aims to provide an affordable, sustainable, and dependable power supply for Nigerians. They have now signed off on major projects with Niger Delta Power Holding Company and partnered with Eko Electricity Distribution Company (EKEDC) to serve industries and residential clusters in Agbara, Lekki, Ikoyi, and VI.



REA Signs Contract With Ceesolar For 140 Female Students On STEM Internship

The Rural Electrification Agency’s Nigeria Electrification Project (NEP), funded by the World Bank, successfully signed a contract with the Ceesolar, a renewable energy firm specializing in solar system design, construction and energy systems deployment, for the implementation of the female Science, Technology, Engineering and Maths (STEM), Internship Program, a vital component of the Energizing Education Programme, EEP II.

Speaking during the contract signing held at REA office complex, the Managing Director/Chief Executive of the Rural Electrification Agency (REA) Engr. Ahmad Salihijo, noted that, renewable energy is a rapidly growing sector, resulting to an increased demand for skilled professionals. As such, requires women representation.



Stakeholders Urge Govt to Address Issues of Funding in Nigeria’s Creative Industry

Nigeria’s creative industry, particularly the film and music has become one of the Nation’s greatest exports generating revenue and attracting valuable partnerships.

However, some stakeholders have urged the government to address some of the issues hindering the sector so as to attract more investors and contribute to the economy.

The Founder/CEO of Consonance Investment Managers, an Africa-focused venture capital firm, Mobolaji Adeoye while speaking at the 2023 edition of the Africa Creative Market (ACM) which started on Friday identified some of the critical issues affecting the creative industry to include Lack of access to capital, poor infrastructure, inadequate capacity building and training programmes among others.



‘Report on Maiduguri Gas Plant Shutdown False’

The Maiduguri Gas Plant initiated under the immediate past administration of President Muhammadu Buhari, and constructed by the Nigerian National Petroleum Company (NNPC) was completed in February 2023 and commenced operation immediately, The Guardian has reliably gathered.

The confirmation of the completion and inauguration of the gas plant by top officials of NNPC Limited came against the backdrop of a media report on Sunday, November 5, 2023, that the critical infrastructure to address the problem of power supply disruptions in Maiduguri due to attacks by insurgents, had yet to take off.


We use cookies to enhance your experience on our website. By continuing to browse our site,
you consent to our use of cookies.