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Reps Ask NERC To Suspend Electricity Tariff Increase

The house of representatives committee on power has asked the National Electricity Regulatory Commission (NERC) to suspend the planned increase in electricity tariff. NERC had directed the electricity distribution companies (DisCos) to enforce an upward review of the tariff starting from April 1. But at its meeting in Abuja on Tuesday, Aliyu Magaji, the committee chairman, asked NERC to issue ...

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NERC Directs DisCos To Increase Tariff…. Nigerians To Pay More For Power

Nigerians will now pay more for electricity as the Nigerian Electricity Regulatory Commission (NERC) has directed the 11 electricity distribution companies (DisCos) to increase their tariff from January 1. James Momoh, NERC chairman, and Dafe Akpeneye, its secretary, gave the directive in a memo sent to the DisCos. The commission had published the new tariffs for the different DisCos and ...

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Breaking News: NNPC Announces Discovery Of Oil In North-east

The Nigerian National Petroleum Corporation (NNPC) has announced the discovery of oil in the north-eastern part of the country. Samson Makoji, acting group general manager, group public affairs division of the corporation, announced this in a statement on Friday. He said the discovery of oil and gas in commercial quantity in the Gongola Basin will “attract foreign investment, generate employment ...

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FG Committed To Delivering Effective Power Supply To Nigerians – Osinbajo

Vice President Yemi Osinbajo on Thursday reassured Nigerians that Federal Government was committed to ensuring effective and cost reflective power supply in the country. Osinbanjo gave the assurance during the official inauguration of the Niger Delta Power Holding Company (NDPHC) new 2×60MVA, 132/33KV substation and associated 132KV transmission lines in Abeokuta, Ogun. The News Agency of Nigeria (NAN) reports the ...

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BPE, Sam Amadi Bicker Over Failed Power Sector Reforms, Privatisation

The Bureau of Public Enterprises and a former chairman of the Nigerian Electricity Regulatory Commission, Sam Amadi, have clashed over the perceived poor performance of the power sector despite its privatisation and numerous reforms. In 2013, the former Power Holding Company of Nigeria (PHCN) was unbundled into 11 electricity distribution companies (DISCos), six generating companies (GENCos), and one transmission company ...

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New NNPC GMD Not Related To Buhari’s Chief Of Staff, Says Presidency

Following conflicting information on social media, the presidency has on Thursday, June 20, cleared the air on the appointment of Mele Kyari as the group managing director of the Nigerian National Petroleum Corporation (NNPC). According Bashir Ahmad, personal assistant to President Muhammadu Buhari on new media, the new NNPC GMD Mele Kyari is not in any way related to Mallam ...

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Oil Climbs To 5-month High Amid OPEC Cuts, U.S. Sanctions, Libya Fighting

Oil prices rose to their highest level since November 2018 on Monday, driven upwards by OPEC’s ongoing supply cuts, U.S. sanctions against Iran and Venezuela, fighting in Libya as well as strong U.S. jobs data. International benchmark Brent futures were at $70.62 per barrel at 0716 GMT on Monday, up 28 cents, or 0.4 per cent from their last close. ...

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Oil Marketers Reduce Petrol Price To N140/litre For Buhari

In what could be termed a soothing development, the Independent Petroleum Marketers Association of Nigeria (IPMAN), has directed its members nationwide to crash the pump price of petrol from N145 to N140/litre with effect from Wednesday, February 20 and Saturday, February 22, being the eve of the presidential and National Assembly elections. The move serves a twin effect of pooling ...

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Blackout: Don’t Renew BEDC License, Oba Of Benin Tells Buhari

The Benin Monarch, Oba Ewuare II, has asked President Muhammadu Buhari not to renew the license of the Benin Electricity Distribution Company (BEDC) for its inability to provide electricity. Oba Ewuare II appealed to Buhari to support Governor’s Godwin Obaseki’s quest to seeking an alternative sources of providing electricity to meet the demand of the people of the state. Ewuare ...

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Femi Otedola Dumps Forte Oil, Notifies The Exchange

Nigerian billionaire businessman, Femi Otedola is set to sell his 75 per cent direct and indirect shareholdings in Forte Oil. This was revealed by the Nigerian Stock Exchange in a statement on its website on Monday. The statement was signed and made available to reporters by Akinleye Olagbende, the  General Counsel of the company. The statement entitled ‘notification of divestment by the ...

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