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As Nigeria s power sector deficit hits N396 86bn Buhari administration still consider exporting electricity to Equatorial Guinea

Nigeria already exports electricity to other neighbouring countries such as the Republic of Benin, Niger, and Togo despite a paltry generation barely enough to cater for its over 200 million population, Naija247news reports Already the liquidity situation in Nigeria’s power sector has worsened, as the indebtedness of the distribution companies, DisCos, to Nigerian Bulk Electricity Trading, NBET, Plc., has increased to N396.86 billion, indicating an increase of seven per cent, compared to N368.83 billion recorded in the corresponding period of 2019. Sources tell Naija247news Nigeria is considering exporting electricity to Equatorial Guinea as both nations have advanced talks over the possibility.

Central african republicEquatorial guineaAbuja federal capital territoryRiver nigerNigeria generalCentral africanRepublic of beninSanusi garbaNbet plcNational assemblyNigerian electricity regulatory commissionVanguard energyNigerian bulk electricity tradingNiger republicBenin republicPresident buhari

Power sector deficit hits N396 86bn in 9 months

Vanguard News Power sector deficit hits N396.86bn in 9 months On By Ediri Ejoh The liquidity situation in Nigeria’s power sector has worsened, as the indebtedness of the distribution companies, DisCos, to Nigerian Bulk Electricity Trading, NBET, Plc., has increased to N396.86 billion, indicating an increase of seven per cent, compared to N368.83 billion recorded in the corresponding period of 2019. This debt profile accrued by the inability of the 11 power distribution companies in the country to remit a total of N396.86 billion to the NBET for the electricity sold to them from January to September 2020. The government-owned NBET buys electricity in bulk from generation companies, through power purchase agreements, and sells through vesting contracts to the DisCos, which then supply it to the consumers.

Ediri ejohNbet plcNational assemblyNigerian electricity regulatory commissionVanguard energyKindly share this storyNigerian bulk electricity tradingShare this storyதேசிய சட்டசபைநைஜீரியன் மின்சாரம் ஒழுங்குமுறை தரகுவான்கார்ட் ஆற்றல்கைஂட்லீ பகிர் இது கதைநைஜீரியன் மொத்தமாக மின்சாரம் வர்த்தகபகிர் இது கதை

With CBN s Intervention, Discos Revenue Collection in Steady Rise

Emmanuel Addeh in Abuja The directive by the Central Bank of Nigeria (CBN) to Nigeria’s deposit banks to take over the collection of revenues from the power Distribution Companies (Discos) has begun to yield positive results, THISDAY checks revealed at the weekend. The Discos posted a record N44.5 billion revenue collection in September 2020, the highest ever recorded by the power distributors, a month after the apex bank gave the directive, it was learnt. Before the September record, in August 2020, the month the order was given, data released by the Discos in its third-quarter summary of Key Performance Indicators (KPIs), indicated that another record was posted, with the collection of just a little less than N44 billion, another record before September.

Port harcourtAbuja federal capital territoryBello hassanEmmanuel addehDistribution companies discosAssociation of electricity distribution companiesTransmission company of nigeriaCentral bankDistribution companiesKey performance indicatorsBanking supervisionNigerian bulk electricity tradingElectricity distribution companiesAggregate technicalTransmission companyபோர்த் ஹர்கார்ட்

FIIRO board chairman, three others receive Gani Fawehinmi integrity awards - Latest Nigeria News, Nigerian Newspapers, Politics

FIIRO board chairman, three others receive Gani Fawehinmi integrity awards - Latest Nigeria News, Nigerian Newspapers, Politics
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