Power Sector And Other Related News Stories For Wednesday April17th 2024

Posted by News Room April 17, 2024

GCR Expects More Debt Capital Injection Into Nigeria’s Power Sector

GCR Ratings in its 2024 power sector outlook expects additional future investments over the short to medium term following the listing and performance of Geregu and Transcorp power on the Nigerian Exchange. Meanwhile, the Lagos-based ratings agency highlights the absence of a definite and sustainable debt payment plan within the sector as a major rating challenge. Oluwafemi Atere, Sector Head, Corporate and Public Sector Ratings at GCR Ratings joins CNBC Africa to unpack the report.



Nigeria’s Persistent Power Outage

Nigeria has been plagued by persistent nationwide blackouts, with about half of the population having no access to electricity. This issue is largely attributed to poor infrastructure maintenance, inefficiencies in power generation, transmission, and distribution, as well as corruption and mismanagement in the power sector.



FG Pays N205bn Electricity Subsidy, as DisCos Withhold N50bn — NERC

The Federal Government paid about N205billion as electricity subsidy in the third quarter of last year, according to data obtained from the Nigerian Electricity Regulatory Commission, NERC, latest report.



Why Nigeria National Grid Collapsed for The 5th Time in 2024

Nigeria’s national grid collapsed for the fifth time this year in the early hours of Monday, highlighting the country’s inability to provide reliable power after raising tariffs for rich consumers by 230% only two weeks ago.



A’Ibom Set to Centralise Gas-Driven Power Supply

Akwa Ibom State government has moved to set up a central gas-driven power plant to supply 24 hours electricity within the secretariat complex in order to end the proliferation of power generating sets noise pollution and excessive carbon emissions at the Idongesit Nkanga secretariat.



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