The Federal government on Wednesday approved Nigeria’s contribution of $2 million to the 2020 budget of the West African Power Pool (WAPP).
Electricity customers have accused power distribution companies (DisCos) of charging increased tariff despite its suspension by the Nigerian Electricity Regulatory Commission (NERC).
The management of Egbin Power plc has said that the electricity generating company will spend about $40million to overhaul its two units.
The Nigeria LNG Limited (Nlng) says it has paid over $18.3 billion to the Federal Government as dividend through its shareholding in Nigerian National Petroleum Corporation (NNPC) in the last 20 years.
The Department of Petroleum Resources, DPR, has released guidelines for the establishment and operations of downstream gas facilities across the country. This is coming days after the gas explosion at Baruwa, Ipaja, Lagos, which claimed several lives and destroyed over 20 properties.
Nigeria’s revenue from Liquefied Natural Gas (LNG) sale may be impacted as Japan, is pouring money into research and development of hydrogen fuel to secure energy independence.
President Muhammadu Buhari has justified the present increase in the price petrol saying there is no justification on why Nigeria’s petrol price should be cheaper than Saudi Arabia and Egypt in his independence speech Thursday morning.
After years of independence and over five decades of oil exploration, crude oil accounts for less than 10 percent of Nigeria’s GDP but represents about 90 percent of foreign exchange earnings and more than half of government revenue, an indicator of a sector in dire need of succor.
Nigeria’s national constitution has empowered state governments to generate, transmit and distribute electric power, but as some states make progress, others have lagged.
Nigerian Electricity Regulatory Commission (NERC) has said Gencos duplication of power contracts is the main reasons why the Eligible Customer regulation seems not to be working despite the huge potentials it provides.