International lenders and partners this week committed another $8 billion in financing to a $48-billion project by the World Bank and African Development Bank (AfDB) to connect a total of 300 million people in Nigeria and the other African countries to electricity by 2030. AfDB Group and the World Bank Group plan to allocate $48…
Nigeria is taking bold steps to revive its faltering power sector, aiming to attract $15 billion in private investments while keeping its most vulnerable citizens in mind. At a World Bank energy summit in Tanzania, the government outlined a plan that combines higher electricity tariffs with fresh subsidies to ease the burden on households. Under…
The Nigeria Labour Congress (NLC) has upbraided the Minister of Power, Adebayo Adelabu, for earmarking N8 billion in the 2025 federal budget to sensitise Nigerians on the need to pay electricity bills. The NLC’s position was conveyed in a statement signed by its President, Comrade Joe Ajaero in Abuja. The Federal Ministry of Power had…
The Nigerian Electricity Regulatory Commission (NERC) has completed the transfer of regulatory oversight to four states The states are Enugu, Ekiti, Ondo, and Imo that are now fully in charge of the regulation of their electricity markets. NERC made this known in its X handle yesterday, noting it has begun the transfer of regulatory oversight…
Nigeria government said it is working to put an end to the national embarrassment usually caused by incessant collapse of the national electricity grid. It added that the issue has come to stay for now but would be tackled in the long term. The Minister of Power, Adebayo Adelabu, who spoke during a budget defence…
