With about N820 billion debt strangulating the power sector, the Federal Government, via the Central Bank of Nigeria (CBN), came up with a strategy of escrowing the bank accounts of the 11 electricity distribution companies (DisCos) in 2020. This entailed a […]
Day: 18 January 2022
How Power Sector Suffers N159.85bn Over Non-Payment For Unused Power
As average unutilized power generation drops to 2,248.50MW ELECTRICITY Generation Companies, GENCOs’ losses associated with non-payment for unused electricity dropped to N159.85 billion in 2021, from N266.11billion in 2020, indicating a decrease of 39.93 percent. This came as authoritative industry […]
World Bank, REA To Power 25 Akwa Ibom Communities With Solar
No fewer than 25 communities in Akwa Ibom state have been marked across the state for solar powered mini-grid. The State Commissioner for Power Dr. John Etim, said the development was an initiative of World Bank/REA Nigeria Electrification Program and […]
