The Federal Government on Thursday signed the Share Purchase Agreement (SPA) and twelve other documents with fourteen (14) core investors that won bids for 15 successor companies carved out of the Power Holding Company of Nigeria (PHCN)preparatory to the
The Government of Nigeria (GON) yesterday sealed a $1billion (N158 billion) deal with General Electric (GE) USA to boost the power sector in the next five years; underlined by the agreement to establish a manufacturing/assembly and training facilities in
Transnational Corporation of Nigeria Plc (Transcorp) and General Electric (GE), today signed a framework agreement to collaborate in addressing the infrastructural needs of Nigeria, with emphasis on the power and transportation sectors.
The Bureau of Public Enterprises, BPE, is today organising the formal commercial bids opening for 11 distribution companies (DISCOs), which are successor companies of the Power Holding Company of Nigeria, PHCN.
The National Council on Privatisation (NCP) of Nigeria today, announced the preferred bidders for five state power generation plants, part of plans to privatise the country's electricity sector to boost growth in Africa's second largest economy.
The Nigerian Bureau for Public Enterprises (“BPE”) , following the conclusion of its evaluation of the commercial bids for the privatization of some of the power generation companies created from the unbundling to the Power Holding Company of Nigeria (PHC
A cardinal objective of power sector roadmap created by the current administration in August 2010 to help implement the Electricity Power Sector Reform Act of 2005 is the sustained improvement of electricity service delivery throughout the transition peri
In a move to give renewed impetus to his administration’s drive to significantly improve power supply across the nation, President Goodluck Ebele Jonathan Wednesday recomposed the Presidential Action Committee on Power and the Presidential Task Force on
A new electricity tariff is set to commence in Nigeria in less than 24hrs despite the huge outcry from a large number of Nigerians. Barring any unforeseen challenges, the payment of a new tariff regime under the multi-year tariff order 2 (MYTO-2), as app
NigeriaÃ¢â‚¬â„¢s president on Thursday invited foreign investors to join what could be one of AfricaÃ¢â‚¬â„¢s biggest privatisations as the country seeks to sell its power generation and distribution companies.Goodluck Jonathan called time on the state-ow
The Federal Government has stepped up efforts to secure more Foreign Direct Investments (FDIs) in the nationÃ¢â‚¬â„¢s power sector, to improve supply situation in the country. Already, the government has begun discussions with some international investors
The Federal Government has said that for the country to achieve 10,000 megawatts of electricity that could fast-track economic growth, it needs to inject between $3 billion and $5 billion annually in five years into the power sector
The Central Bank of Nigeria (CBN) governor, Sanusi Lamido Sanusi, on Wednesday stressed the need for operations in the power sector to be fully deregulated and concessioned, pointing out that with the ongoing reform of the nation's financial services sect
Echoing his comments at his senate screening last year, the governor of the Central Bank of Nigeria (CBN), Sanusi Lamido, yesterday stressed the need for government to focus efforts on fast-tracking the reforms in the power sector to drive the growth of t
The Nigerian National Petroleum Corporation (NNPC) says it is happy with the efforts of the Nigerian Agip Oil Company at helping to attain the president's 6000MW power generation target by the end of the year.
The announcement last week, that PHCN is planning to introduce a new, cost-reflective tariff structure for the electricity industry to attract investors for the 18 unbundled companies from the Company, calls for serious concern.