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The Federal Government will issue a second power sector bond worth N729 billion to clear verified legacy debts owed to electricity generation companies. The looming capital market intervention aims to inject desperate liquidity into the gasping domestic electricity supply industry. State administrators will host an essential Investors’ Forum on Tuesday to pitch the debt instrument…
Africa’s largest electrification drive has crossed a defining threshold, with the World Bank Group and the African Development Bank announcing that their joint Mission 300 initiative has connected more than 50 million people to electricity across 40 countries, even as Nigeria, home to the world’s biggest power access deficit, accounts for over 4.5 million…
Nigeria’s Transmission Company of Nigeria has added 600 megawatts to the national grid following the official commissioning of a new high-voltage transmission line project in Edo State, offering fresh hope for improved electricity supply across the country. The Managing Director and Chief Executive Officer of TCN, Sule Abdulaziz, made the announcement on Thursday at…
Nigeria’s Minister of Power, Adebayo Adelabu, has issued a formal public apology over the severe electricity outages that have plunged homes, businesses, schools and industries into darkness over the past month, pledging that improvements in power supply would begin within two weeks. The apology, delivered at a press conference in Abuja on Tuesday, came…
The Federal Government has initiated a fresh strategic framework to synchronize domestic gas production with national power requirements. This policy aims to eliminate the persistent supply bottlenecks currently hindering the stability of the national electricity grid. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, officially disclosed this directive during a recent industry summit. The…
