Business Eye

Thursday, 24 May 2012 | Administrator

The Niger Delta Power Holding Company Limited, (NDPHC), owners of the National Integrated Power

Project (NIPP) on 21st of May said the company will not hesitate to revoke license of any erring contractors. Mr James Olotu, Managing Director of the company made the warning in a question and answer segment with media in Lagos. He said that those contractors handing NIPP projects that has not completed their projects should do so before June, adding that any contractor found not completed his project...

NDPHC commissioned 11 injection substations in Lagos to boost electricity supply

Thursday, 24 May 2012 | Administrator

The Niger Delta Power Holding Company Limited, (NDPHC), owners of the National Integrated Power Project (NIPP) on Monday commissioned eleven power injector sub-stations in Lagos metropolis to boost electricity supply.

Speaking at the commissioning, Mr James Olotu, Managing Director of the company assured Lagosians that the projects boost the electricity supply of most communities under the network. Olotu said that all the when completed, it will have the capacity to inject additional minimum of 1...

PHCN Transmission Company installs 60 KV power transformer in Ikorodu.

Monday, 16 April 2012 | Administrator

The Transmission Company of Nigeria (TCN) has installed a 60 KVA power transformer in Ikorodu to boost power supply in the area.

The company, which has tasked the TCN engineers and technicians working on the newly installed 60 MVA transformer to complete work and energise it by April 21.

A statement issued by Mrs Celestina Oshin, Principal Manager Public Affairs, TCN and made available to newsmen in Lagos, said that the essence of the installation of the 60 MVA in Ikorodu axis was to stop the mass...

Govt. replaces PHCN Director, CEOs of Power Coys

Thursday, 12 April 2012 | Administrator

The President, Dr. Goodluck Jonathan, today approved the retirement of three key functionaries in the Power Holding Company of Nigeria (PHCN) and its successor companies, as government moves to arrest the deteriorating power situation in the country.

The officers replaced are Engineer Akinwumi Bada, erstwhile CEO of the Transmission Company of Nigeria, Engr. Uzoma Achinanya, former Market Operator, as well as the Executive Director of Human Resources at the PHCN, Mr. Olusoga Muyiw...

Sustaining the Sovereign Wealth Fund

Thursday, 12 April 2012 | Administrator

Apart from the imperatives of proper ironing out of the judicial grey areas of the issues hovering round the Sovereign Wealth Fund (SWF) by the governors and the Federal government, the management and the sustainability of the Fund is still a question begging for answers.

Sovereign Wealth Fund (SWF) is the government –owned investment funds, set up for variety of macroeconomic purposes. They are often commonly funded by the transfer of foreign exchange assets that are invested lon...

Power blackout nnaji orders investigation

Tuesday, 27 March 2012 | Onayemi Bamidele

The Minister of Power, Professor Bart Nnaji, has ordered an investigation into the three system failures which the nation has experienced since March 15.

In a directive today issued from Seoul, South Korea, where he is attending a meeting with President Goodluck Jonathan on peaceful uses of nuclear energy, the minister ordered the chief executive officer of the Transmission Company of Nigeria (TCN), Engineer Akinwuni Bada, to set up a team of experienced and competent engineers to investigate th...

PHCN Debt Crisis: Nnaji Orders Emergency Meeting

Friday, 16 March 2012 | Onayemi Bamidele

Worried by the huge debt owed the Power Holding Company of Nigeria (PHCN) and the company’s inability to meet its basic obligations to key suppliers, the Minister of Power, Professor Bart Nnaji, has ordered an emergency retreat for the 11 distribution companies created out of the state-owned power utility.

The meeting, according to sources in the Ministry, “is to help create a paradigm shift because professor Nnaji believes we cannot continue with a system which has failed over the decades and s...

EKO Distribution Company announce two-days power outrage

Wednesday, 07 March 2012 | Administrator

Lagos, March 6, 2012 (NAN)The Management of Eko Electricity Distribution Company on Tuesday announced planned outage of electricity supply its customers within its network.

A statement issued by Idemudia Godwin, Principal Manager, Public Affairs and made available to the News Agency of Nigeria (NAN) said that outrage will commenced from 8 - 10 of March 2012.

Godwin said that the source of supply at NITEL injection sub-station will be interrupted between 8 am to 6pm daily.
``The outage is to enabl...

NO PLAN TO INCREASE ELECTRICITY TARIFF BY 88%

Wednesday, 22 February 2012 | Onayemi Bamidele

The Minister of Power, Professor Bart Nnaji, has said that the electricity tariff in Nigeria will not go up by 88 per cent.

Speaking today before the Senate Committee on Power, the Minister said that recent media reports claiming that all electricity consumers would increase on April 1“by almost double are not factual.

“In fact, the urban poor and rural dwellers as well as artisans like welders who perform vital economic functions will experience no significant adjustment.”

He said that a substa...

Nigeria: A miracle waiting to happen

Monday, 23 January 2012 | Administrator

Nigeria is a country in a hurry to develop. We want to be among the 20 largest economies in the world by the year 2020. To achieve this noble aspiration, we must develop the power sector which, over the decades, has unfortunately not been accorded the priority attention it deserves. By the time Dr Goodluck Jonathan, assumed office in May, 2010, as the substantive President of Nigeria, the quantum of power generated for the whole country was between 2,800 and 3,000 Megawatts.

For a...

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