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CBN To Provide N60bn for Mass Metering
The Central Bank of Nigeria (CBN) will provide N60 billion for the first phase of its national mass metering programme, the federal government has said. The fund will be provided for the supply of one million electricity meters meant for free distribution to unmetered power users across the country. This was contained in a document…
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Nigeria To Sell Unused Power To 4 Countries
About four West African countries are in talks with Nigeria to sell unused electricity to them. The electricity would be sold through a planned $570 million Northcore Power Transmission Line. This was disclosed by the acting Managing Director of the Transmission Company of Nigeria (TCN) and Chairman, Executive Board of the West African Power Pool…
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Nigeria Spends N568.5bn Annually On Electricity Shortfalls
The World Bank has said the Federal Government of Nigeria is spending $1.5bn (N568.5bn at N379/$ exchange rate) annually to fund electricity tariff shortfalls, the World Bank has said. According to the global financial institution, this amount is speculated to increase if the country fails to take the right action. The bank also disclosed that…
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Electricity: 78% Nigerian Consumers Get Below 12-Hour Daily Supply
The World Bank has said a total of 74 percent of power users in Nigeria are dissatisfied with the supply of electricity across the country. The World Bank also stated that 93 percent of metered power users paid their bills regularly while 78 percent of electricity consumers in Nigeria received less than 12 hours of…
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DISCOs Indebtedness Hits N510.53bn In 2020
The indebtedness of the 11 Distribution Companies to Nigerian Bulk Electricity Trading Plc has increased to N510.53billion in 2020. This indicates an increase of 11.2 per cent compared to N453.14billion, recorded in the corresponding period of 2019. This debt profile accrued means that the11 Power DisCos in the country could not remit a total of…
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DisCos Record N273.42 Billion Shortfall In 2020
The 11 Electricity Distribution Companies across Nigeria have recorded a shortfall of N273.42 billion in 2020. The companies cumulatively received a total of N542.73 billion out of N816. 15 billion they billed their consumers. This, however, is an increase of N42.46 billion from the total of N230.96 billion shortfall recorded in 2019. Also, the amount…
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NERC: Seven Million Customers Unmetered, Three Million Meters Obsolete
The Nigerian Electricity Regulatory Commission has said over seven million power users have not been metered while three million meters installed in the residents of power users are obsolete. The Commission said this in its latest Order No. NERC/246/2021 on structured replacement of faulty and obsolete end-use customer meters stating that the large number of…
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Angola Moves To Secure 60% Electricity Access Rate By 2025
Currently, in Angola, only one-third of the population has access to electricity under good conditions, this is why the government of Angola is seeking to increase access to electricity for its population. The government in Angola is looking to create a 60% electricity access rate by 2025. “The objective is, firstly, the modernization and extension…