Tag: Energy

Energy Group sues NNPCL Executive over ₦140bn OVH energy deal 

Aminu Imam
Energy Group sues

A non-governmental organisation, the ‘Incorporated Trustees of Legal Defence Against Injustice Initiative’, has sued Nigerian National Petroleum Company Limited (NNPCL) executive, Adedapo Segun, at the Abuja High Court, seeking the refund of ₦140 billion ($325.09 million) allegedly tied to the company’s acquisition of OVH Energy. According to reports, the group wants the Court to compel Segun, who is NNPCL’s Chief Financial Officer and former Executive Vice-President, Downstream, to return the funds to the Federal Government’s treasury. It is also urging the Court to direct the Economic and Financial Crimes Commission…

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Tinubu names Amachree as Director, Energy Security

Aminu Imam
Director Amachree

President Tinubu appoints Wike’s ally, Ojukaye Amachree, as the new Director of Energy Security Directorate within the Office of the National Security Adviser (ONSA). According to a statement by ONSAs Head of Strategic Communications, Zakari Mijinyawa, Amachrees appointment was part of the governments commitment to ensuring a stable, sustainable, and secure energy supply for all Nigerians. The Energy Security Directorate, a newly created unit in ONSA, is tasked with coordinating policies, protecting critical infrastructure, managing data, providing security coordination, offering risk advisory services, and building strategic alliances within Nigerias energy…

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

Aminu Imam
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 Nigerias 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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FG mulls handing over power utilities to State governments

Aminu Imam

The Federal Government is considering handing over its stake in 11 power utilities to State governments to improve oversight and address the countrys chronic power shortages, the minister of power said on Friday. The FG holds a 40% interest in 11 power distribution companies (DISCOs), which were privatised a decade ago, each of which operates a franchise spanning three or more states. According to the Minister of Power, Adebayo Adelabu, the Federal Government is open to swapping its shares in the DISCOs for shares in the privately managed Niger-Delta Power…

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Diesel suppliers, generator dealers sabotaging power supply in Nigeria Ex-Minister, Nnaji

Aminu Imam

Former Minister of Power, Professor Bart Nnaji, has narrated how diesel suppliers and generator dealers are allegedly sabotaging some efforts by the federal government and power distribution companies to have steady electricity supply in Nigeria. The Minister, who stated this in Umuahia during a radio programme in the Abia State capital, tagged: South East Political Roundtable, disclosed that some of the generator and diesel dealers approached him, complaining that he (Nnaji) was ruining their businesses. Nnaji, who is the founder of Geometric Power, identified diesel suppliers and generator sellers as obstacles…

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Electricity Corruption: “Nigerias energy industry is toxic” – Ex-VON D-G, Osita Okechukwu

Aminu Imam

A former Director-General of the Voice of Nigeria (VON), Osita Okechukwu, says Nigerias electricity supply is erratic and damaging small and medium enterprises. Okechukwu, a founding member of the All Progressives Congress (APC), who stated this in a statement at the weekend, claimed that high electricity tariffs by electricity distribution companies (DisCos) had left many Nigerians in a precarious situation. The APC stalwart noted that ex-Kaduna State governor, Nasir el-Rufa’i would be the right person to revamp the nations power sector. Okechukwu claimed that not making el-Rufa’i a minister would…

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Subsidy removal: FG distributes solar systems to Lagos communities

Aminu Imam

As a way of cushioning the effects of fuel subsidy removal on citizens, the Federal Government has commenced installation of solar systems in rural communities in Lagos. Solar systems have been installed in schools and public health facilities at Makoko, in the Yaba area of the metropolis by the Rural Electrification Agency, (REA). According to the news medium, the Managing Director of the Rural Electrification Agency (REA), Ahmad Salihijo Ahmad, made the disclosure on Saturday while on an inspection tour of some of the schools and hospitals where some of…

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Nigeria ranks 109 amid 168% tariff hike in eight years – Findings

Aminu Imam

Despite a near-zero improvement in power supply efficiency under the President Buhari administration, and contrary to the boast by the Minister of Power, Abubakar Aliyu, that Nigeria enjoys the cheapest electricity, findings have shown that over 100 countries offer more affordable electricity compared to Nigeria. This is coming as the current Government has in the last eight years increased electricity tariff by over 168 percent, with billing jumping from an average of N23.5 a kilowatt-hour (kWh) in 2015 to N63 kWh as of January this year. Nigerians paid between N16 and…

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Amended Constitution to allow States to generate, transmit electricity

Aminu Imam

President Muhammadu Buhari has signed into law the constitutional amendment allowing states in the country to licence, generate, transmit, and distribute electricity. This was made known in a tweet yesterday, by the presidential media spokesperson, Tolu Ogunlesi. He tweeted: President #MBuhari has signed 16 constitution amendment bills into law. By this signing, State Houses of Assembly & judiciaries now have constitutionally guaranteed financial independence, while railways have moved from Exclusive Legislative List to the concurrent list. Another landmark change: By virtue of the presidential assent, Nigerian states can now generate,…

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$1.3 billion Zungeru Power project 97% complete, Minister declares

Aminu Imam

The Federal Government has declared the $1.3 billion Zungeru Power project 97 percent complete. What is not certain, however, is whether it will be commissioned by the administration of President Muhammadu Buhari. The project is expected to provide 700 megawatts of electricity to the national grid while Kashimbila Hydro-electric Power project will provide 40 megawatts to the national grid. Dadin-kowa Dam will provide 40 megawatts. Speaking at the 5th National Council on Power (NACOP) in Abuja, the Minister of Power, Engineer Abubakar Aliyu said that in addition to that, the…

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