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Nigeria’s Minister of Power, Works and Housing, Babatunde Fashola, says Nigeria’s power generating companies (GenCos) are now able to produce 7,000MW.
The Federal Government on Tuesday in Abuja announced that it has recovered 500 “stranded’’ containers belonging to the Transmission Company of Nigeria (TCN).
The Nigeria Bulk Electricity Trading Plc (NBET) has disbursed a total of N152.974 billion to 23 power generation companies (Gencos) within the first seven months of 2017, according to a report.
For the N701 billion intervention funds granted the Power Generation Companies, GENCOs, by the Federal Government early last year, the power sector would have experienced total collapse, Managing Director of Niger-Delta Power Holding Company, NDPHC, Mr. Chiedo Ugbo, has said.
The Minister Of Power Works and Housing, Babatunde Fashola, said the Western gas pipeline that got burnt last week has repaired and restored.
Some states in the western parts of the country may remain in darkness, as repair work is yet to commence on the damage caused by a fire on the Escravos to Lagos Pipeline (ELP), which supplies gas to six power plants in the west.
Mr Sunday Makinde, an expert in the power sector, on Wednesday lauded Federal Government’s effort at improving electricity transmission network across the country.
Minister of Power, Works and Housing, Mr. Babatunde Fashola, on Wednesday announced that the Transmission Company of Nigeria (TCN) and the Generation Companies (GENCOS) were working to restore the technical hitches recorded in the national transmission grid.
The Federal Government on Monday announced that when some power generation projects were completed by 2018,they could generate additional 1,129 Mega Watts to the current 7,000 Mega Watts in the country.
The nation’s banks could lose over N466 billion exposures to the power sector due to new policy by the Nigerian Electricity Regulatory Commission (NERC).
The Nigerian Electricity Regulatory Commission, NERC, has been granted approval to roll out a new regulation targeted at enabling operators in different sectors play active roles.
Public expectation for adequate and stable power supply may have been raised when President Goodluck Jonathan handed over share certificates to private investors in five generation companies (GENCOs) and ten distribution companies (DISCOs) which were created from the unbundled Power Holding Company of Nigeria (PHCN).
The Senate has urged the Federal Government to appoint a separate minister for the Ministry of Power to ensure optimal performance.
The Nigerian Economic Summit Group (NESG) has recommended a review of the privatisation of the power sector.
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