Category: Energy

Tinubu’s power reforms target ownership, management change of 6 DisCos’, says el-Rufa’i

Aminu Imam

…Says President’s vision is uninterrupted electricity within 7yrs Immediate-past governor of Kaduna State, Nasir el-Rufa’i has revealed that ownership and management structure of at least six indebted electricity distribution companies (DisCos) would be changed in new reforms planned for the power sector of the President Bola Tinubu administration. El-Rufa’i, who is the ministerial nominee from Kaduna State and tipped to lead the Energy Ministry, revealed this on Tuesday when he was screened by the Senate. The former governor further disclosed that President Tinubu wants to achieve constant power supply in the…

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Senate seeks suspension of the proposed electricity tariff hike

Aminu Imam

Nigerian Senate yesterday, urged the Nigerian Electricity Regulatory Commission (NERC) and the 11 Electricity Distribution Companies (DisCos) to halt their proposed tariff increase and “allow Nigerians to breathe”. The Senate’s resolutions, which were sequel to a Motion, titled: “Need to halt the proposed increase in electricity tariff by eleven successor electricity distribution companies, DISCOs”, sponsored by Senator Yunus Akintunde and two others, called on the Federal Government to intervene and halt the proposed increase in electricity tariff by the DISCOs. It urged the Nigerian Electricity Regulatory Commission, (NERC) to decentralize…

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Kano DisCo gets new owners as Kaduna’s faces license revocation

Aminu Imam

The Nigerian Electricity Regulatory Commission, (NERC), has extended its threat to cancel the licence of Kaduna Electricity Distribution Company, (KAEDCO), for another 30 days to fashion out ways to settle its N51billion underpayment to the Nigerian Electricity Supply Industry, (NESI). NERC, in an advertorial signed by one of its commissioners, Dafe Akpeneye, dated July 19, stated that core investors of KAEDCO, Afrexim Bank and Fidelity Bank, did not give a satisfactory note on ways to sustain the financial viability of the company. Recall that the regulator had in May given…

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“We will protect Nigerians from outrageous estimated billing” – NERC

Aminu Imam

The Nigerian Electricity Regulatory Commission, (NERC), has said that it is committed to protecting Nigerians from outrageous estimated billing. The Commission said this in an awareness video released via its social media platform recently. The awareness video addressed the use of energy caps which were created to protect unmetered customers from outrageous estimated billing. NERC said it has developed a methodology to determine monthly energy caps, which is the maximum amount of energy distribution companies (DisCos) can charge unmetered non-maximum demand (non-MD), customers, each month. According to NERC, the caps…

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‘Nigerians may pay N10, 000 for 100 units of electricity if tariffs rise’ – Expert

Aminu Imam

As apprehension over the anticipated 40 per cent increase in electricity tariff persists, the Chief Executive Officer of PowerCap Limited, Abiodun Ogunleye, has projected that consumers may be paying as high as N10, 000 to vend for 100 units of electricity if the tariff eventually rises. Ogunleye made the projection in Lagos during a press conference heralding the 2023 PowerSolution Conference slated to hold in Lagos between July 19 and 20, 2023, with the theme: “Sustainable Resolution of the Gaps in the Power Sector”. According to Ogunleye, who possesses over…

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Electricity Tariff Hike: As NERC, DisCos play hide and seek, Nigerians in panic bulk-energy buying

Aminu Imam

Confusing signals emanating from electricity distribution companies (DisCos) in the country and the Nigerian Electricity Regulatory Commission (NERC) are keeping electricity consumers on edge. Unsure of the conflicting signals from the regulator and the DisCos., many Nigerians are making panic bulk energy purchases. Recall that on June 22nd, the Abuja Electricity Distribution Company (AEDC) announced that there would be an upward review of the electricity tariff effective July 2023. The tariff increase, the company said, was influenced by the fluctuating exchange rate. The company also encouraged customers with prepaid meter…

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‘Stopping prepaid meters customers from buying unlimited energy is illegal’ – FCCPC to DisCos

Aminu Imam

The Federal Competition and Consumer Protection Commission (FCCPC) has stated that distribution companies’ customers have the right to vend energy if they want to. The notice from the FCCPC came as a result of the vending constraints experienced by customers in the franchise area of Ikeja Electricity Distribution Company (IKEDC), Customers were unable to purchase electricity tokens or units for prepaid meters. The FCCPC says it is actively working with the Nigerian Electricity Regulatory Commission (NERC) and IKEDC to address these complaints and resolve any issues with vending or purchasing…

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FG will save N11tr from subsidy removal – World Bank

Aminu Imam

…7.1m poor Nigerians to lose N5, 000 monthly The World Bank says Nigeria’s government will save a total of N11 trillion from the recent petrol subsidy removal policy. However, the financial body said more people would be pushed into poverty in Nigeria if the government does not provide palliatives to alleviate the effect of the recently implemented reforms. In its latest report, Nigeria Development Update (NDU), released on Tuesday, the Bretton Woods institution said over four million people were pushed into poverty between January and May 2023. The bank, in…

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Electricity: Customers to pay more, as DisCos effect new tariff July 1st

Aminu Imam

Customers will begin paying more as from July 1st, as Electricity Distribution Companies (DisCos) have announced plans to implement a new tariff. According to the Discos, this is due to fluctuating exchange rates. In an issued statement on Sunday, the Abuja Electricity Distribution Company (AEDC) said that under the Multi-Year Tariff Order, (MYTO) 2022 guidelines, the previously set exchange rate of N441/$1 may now be revised to around N750/$1, affecting electricity consumption tariffs. The new base tariff is expected to be N100 per kWh for customers in Bands-B and C,…

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Hard times loom, as electricity tariff set to increase by over 40% from July 1

Aminu Imam

Nigerians may need to brace up for tougher times as electricity tariff is set to increase by over 40 percent from July 1, 2023. This rise follows the unification of the naira, which has led to the depreciation of the naira at the investor and exporter window. Recall that the Central Bank of Nigeria (CBN) recently made an announcement regarding the unification of all segments of Nigeria’s forex market, consolidating all windows into one. According to informed stakeholders, this new system will allow market forces, such as supply and demand,…

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