Again, National Grid suffers another major collapse

National Grid collapse

…Worsens FG’s 20hr power target Nigeria’s National grid has suffered yet another collapse of this year, leading to a significant drop in electricity generation to just 0.80 megawatts, (MWs). The power grid collapse, the fourth time in 2024, is occurring amid ongoing furore over the hike in electricity tariff for premium consumers. The electricity grid, on February 4, collapsed for the first time in 2024. Also, the country suffered another nationwide blackout following the collapse of the National Grid on March 28, and again on April 15. While the Federal Government…

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Senate Investigates Mambilla Hydro-electric Power Project

Senate chambers

…Passes North-Central Development Commission bill Mambilla hydro power projectThe Senate has launched an investigation into transactions in the Mambilla Hydroelectric Power Project from 1999 till date. The resolution was adopted yesterday, after a Motion moved Senator Manu Haruna, representing Taraba-Central in the Senate, on the urgent need to address the challenges of commencing the project. Lawmakers highlighted the failure of previous governments to prioritise the national project with its capacity to generate 3050 megawatts, and reposition the Ajaokuta Steel Complex with $1.7bn. The upper chamber also resolved that in reviving…

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Electricity: DisCos hikes tariff again for Band-A consumers; blame high operational costs

DisCos tariff hike

…Customers to now pay N209.5/kwh from N206.80/kWh‎ Distribution Companies (DisCos) yesterday approved an increase in tariffs for better-off consumers who use the most power as mounting frustration plies over services and rising electricity bills. This is the second hike in electricity prices this year, placing a further strain on businesses and industries that rely heavily on power. Acting Managing Director, of Ibadan Electricity Distribution Company Plc, Francis Agoha, stated that the Nigerian Electricity Regulatory Commission (NERC) approved the tariff increase from N206.80/kWh to N209.50/kWh for users in the Band-A category.…

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‘Nigeria  under-declaring crude oil figures’ – Investigation

Crude oil figures

…As OPEC, oil traders dispute NNPCL’s figures Nigeria’s actual crude oil production figures are far above the official figures declared monthly by the supervising ministry and the two agencies saddled with the task of overseeing the nation’s upstream oil and gas sector, Business Hallmark findings have revealed. Month after month, the trio of Ministry of Petroleum Resources, Nigerian National Petroleum Company Limited (NNPCL) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have officially supplied Nigeria’s daily and monthly crude oil production figures to the Organisation of Petroleum Exporting Countries (OPEC)…

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Crude oil: Ɗangote accuses IOCs of manipulating prices, frustrating refinery’s survival

Dangote accuses

Vice-President, Oil and Gas, at Ɗangote Industries Limited (DIL), Devakumar Edwin, has accused International Oil Companies (IOCs) in Nigeria of doing everything to frustrate the survival of Ɗangote Oil Refinery and Petrochemicals. Edwin said the IOCs are deliberately and wilfully frustrating the refinery’s efforts to buy local crude by jerking up high premium price above the market price, thereby forcing it to import crude from countries as far as United States, with its attendant high costs. Speaking to a group of energy editors at a one-day training programme, organised by…

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Electricity: Dangote Refinery’s power-generation surpasses Nigeria’s 11yrs capacity growth

Dangote electricity

Ɗangote Refinery has exceeded Nigeria’s electricity generation growth over the past decade. While Nigeria’s grid added just 760 megawatts in eleven years, Ɗangote’s refinery quickly produced 1,500 megawatts (MWs) independently. Despite Nigeria’s potential to generate 13,000 MWs, its aging infrastructure currently delivers only 4,160 MWs on average, a modest increase from 3,400 MWs in 2013. UGC Data obtained from the Nigeria Electricity System Operator demonstrated that, as of June 12, 2024, the average generation of 4,160 MWs had increased by 22%, from an average of 3,400 MWs in November 2013…

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Nigeria losing 400,000 barrels of crude oil daily — Report

Crude oil lifting

…​Conspiracy by industry regulators, security agencies fingered Reports have indicated that Nigeria government’s efforts to curtail crude oil theft in the oil producing region has failed to yield the desired results as loses increased from 100,000 barrels/day in 2013 to 400,000 barrels/day in 2023. According to the report, which was  released at the weekend, is a production of several months of deep investigation carried out by public policy firm, Nextier. The report, authored by Ben Nwosu, an associate consultant at Nextier and a senior research fellow at the Institute for…

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‘Ten national power plants operating at 10% capacity’ – Adelabu

Power Plant

Minister of Power, Adebayo Adelabu, has revealed that ten power plants in Nigeria are operating below 10 percent, talking to the infrastructural challenges in the sector. Adelabu made this statement at the BusinessDay Conference, in Lagos, with the theme: “Powering Nigeria’s Energy Future: Addressing Infrastructural Challenges for Sustainable Energy Development”. He expressed surprise at the under-utilisation of the facilities, which he said have the potential to generate significantly more electricity. The Minister identified two key factors limiting power generation: low gas supply and unpaid debts. Gas shortages prevent plants from…

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NNPC to start oil exploration in Ogun – Govt.

Ogun Govt

Ogun State Government has disclosed  that the Nigerian National Petroleum Company Limited (NNPCL) is set to begin oil and gas exploration in the State. In an issued statement on Friday, the State government said the development would make its quest to become an oil-producing State materialise soon. The statement noted that stakeholders in the oil and gas industry were received at the office of  Ogun State Governor, Dapo Abiodun, and his Deputy, Noimot Salako-Oyedele, to discuss the prospect. Speaking at the meeting, Minister of State for Petroleum Resources (Oil),  Heineken…

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FG secures $500m World Bank loan to boost DisCos

W'Bank loan

The Federal Government has secured $500million loan from the World Bank to improve electricity Distribution Companies (DisCos) performance. This was disclosed in a press statement issued yesterday by the Bureau of Public Enterprises (BPE)’s Head, Public Communication, Amina Tukur Othman. She said, approved on February 4, 2021, by the World Bank Board of Directors, this funding supports the Nigerian Distribution Sector Recovery Program (DISREP) aimed at improving the financial and technical performance of the DisCos. The Distribution Sector Recovery Programme, (DISREP), said the Head of Public Communications, is designed to…

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