Tinuade Sandra, managing director of the Eko Electricity Distribution Company (EKEDC), has been relieved of her appointment with immediate effect. This is according to a letter signed by signed by Dere Otubu, the chairman of the DisCo. In the letter dated March 21, 2024, titled Implementation of NERC directive on seconded staff, addressed to Sandra, […]Read More
In a significant move to address the persistent challenges in Nigeria’s power sector, the eleven Electricity Distribution Companies (DisCos) have secured a credit facility totaling N273.34 billion from the Central Bank of Nigeria (CBN). This substantial sum, allocated under the Nigerian Electricity Market Stabilization Facility intervention project, aims to bolster the country’s electricity infrastructure and […]Read More
In a bid to confront the mounting challenges posed by debt burdens and climate emergencies, the International Development Association (IDA), the World Bank’s fund dedicated to the world’s most impoverished nations, is pushing for an unprecedented surge in financial support. Dirk Reinermann, the head of resource mobilisation at the World Bank, stressed the critical importance […]Read More
In a landmark ruling, the Niger State High Court in Minna has awarded a staggering N1.1 trillion in compensation to the Samboro community in Rafi Local Government Area. This compensation is for the severe hardships endured due to the Zungeru Hydroelectric Power Project situated in the region. Justice Mohammed Mohammed, presiding over suit no: NSHC/6/2023 […]Read More
The Honorable Minister of Power, Adebayo Adelabu, has commended the company’s noteworthy performance and pledged unwavering support towards improving the nation’s power landscape. He made this known while visiting Ikeja Electric Plc on Thursday, March 14, 2024, marking a significant step towards addressing Nigeria’s power challenges. During his visit, Minister Adelabu emphasised the crucial need […]Read More
In a bid to enhance the nation’s power supply, the Federal Government has issued a directive to the Nigerian Electricity Regulatory Commission (NERC) to revoke licenses of non-performing electricity distribution companies (DisCos). Adebayo Adelabu, Minister of Power, made this known during a crucial meeting with agency heads held in Abuja on Monday. Addressing the gathering, […]Read More
President Bola Tinubu has greenlit the reconstitution of the Board of the Nigeria Electricity Liability Management Company (NELMCO), marking a pivotal moment in the country’s quest for an efficient and robust power sector. This move comes with a significant modification to the NELMCO Board structure, signaling a strategic shift in governance aimed at enhancing the […]Read More
In a significant development, Governor Usman Ododo of Kogi State has revealed the successful recovery of 53 stolen transformers from the state. This declaration emphasises the government’s unwavering commitment to combating crime in the North-Central region. According to a statement issued on Monday by Ismaila Isah, the Special Adviser on Media to the governor, Ododo […]Read More
Transcorp Power Plc was listed on the Nigeria Exchange on Monday, March 4, with a 10 percent gain and a closing share price of N264. This gives us a valuation of N1.98 trillion, which means it made a whopping N180 billion on its first day of trading. The company, which is listed on the exchange […]Read More
Transcorp Power, one of Nigeria’s leading energy companies, has unveiled plans to list on the Nigerian Exchange Limited (NGX), with a significant market capitalisation pegged at N1.8 trillion. In a statement obtained by EnergyPlanets, Transcorp Power announced its intention to introduce 7,500,000,000 Ordinary Shares, each valued at 50 kobo, at a price of N240.00 per […]Read More
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