Power Sector News and Other Related News Stories For Tuesday October 4th 2022
Discos’ Revenue Collections Hit N772.7bn in 12 Months Despite Mounting Power Supply Challenges
The electricity Distribution Companies (Discos) in Nigeria made a total revenue of N772.7 billion in 2021 in spite of mounting power supply challenges nationwide, a Nigerian Electricity Regulatory Commission (NERC) report has revealed.
An analysis of the four-quarter report released by the sector’s regulatory agency showed that in the first quarter, the Discos raked in N183.73 billion while it collected N185.29 billion in the second quarter.
Discos’ Revenue Collections Hit N772.7bn in 12 Months Despite Mounting Power Supply Challenges
The electricity Distribution Companies (Discos) in Nigeria made a total revenue of N772.7 billion in 2021 in spite of mounting power supply challenges nationwide, a Nigerian Electricity Regulatory Commission (NERC) report has revealed.
An analysis of the four-quarter report released by the sector’s regulatory agency showed that in the first quarter, the Discos raked in N183.73 billion while it collected N185.29 billion in the second quarter.
Discos’ Revenue Collections Hit N772.7bn in 12 Months Despite Mounting Power Supply Challenges
The electricity Distribution Companies (Discos) in Nigeria made a total revenue of N772.7 billion in 2021 in spite of mounting power supply challenges nationwide, a Nigerian Electricity Regulatory Commission (NERC) report has revealed.
An analysis of the four-quarter report released by the sector’s regulatory agency showed that in the first quarter, the Discos raked in N183.73 billion while it collected N185.29 billion in the second quarter.
Taking Advantage of Nigeria’s Wasting Power Assets
Emmanuel Addeh writes that the National Integrated Power Project, which appears to have been relegated by the authorities, could hold the key to solving Nigeria’s electricity supply challenges
For years, especially in the ones leading to 1999, it is believed that the Nigerian power sector virtually lacked any major investment, reflecting in the declining supply of power in the country.
As a result, in 2004, under the President Olusegun Obasanjo administration, the government floated the idea of a National Integrated Power Project (NIPP), with an initial funding of $2.5 billion from the country’s Excess Crude Oil Account (ECA).
N120bn CBN Intervention: Experts Seek Focus on Local Meter Manufacturing
Various stakeholders in the Nigerian power sector have lauded the intervention of the Central Bank of Nigeria (CBN) over its recent N120 billion intervention to close the wide electricity metering gap in the country.
The CBN had begun the disbursement of the fund for the procurement and installation of the electricity meters across the country under the National Mass Metering Programme (NMMP) in the phase zero of the scheme.
Nigeria Loses Over $25bn to Grid Collapse –REAN
The frequent collapse of national grid and the comatose grid electricity supply, the Renewable Energy Association of Nigeria (REAN) has said the breakdowns cost Nigeria over $25 billion in economic losses annually.
It is estimated that businesses are spending over $14 billion yearly on private fossil fuel generators.
his, it said, are very expensive, inducing unemployment, health-threatening and environmental pollution.
REAN came to this conclusion after a stakeholders’ conference and discussion on consumer financing in Lagos.
In a communique, REAN disclosed that Nigeria has over 57.7 per cent of its population in the informal sector.
https://www.sunnewsonline.com/nigeria-loses-over-25bn-to-grid-collapse-rean/
Women Engineers Back Nigeria’s Energy Transition Plan
The energy transition is the significant structural change in the energy sector regarding consumption that seeks to replace fossil fuels with low carbon energy sources, which include oil, natural gas and coal and renewable energy sources like wind and solar as well as lithium-ion batteries.
The Nigeria Energy Transition plan of the federal government seeks to achieve net zero emissions by 2060, while solving energy poverty and lifting 100 million Nigerians out of poverty by 2030. The Nigeria Energy Transition plan focuses on five critical energy sectors, which include power, cooking, oil and gas, transport and industry and is estimated to cost $1.9 trillion.
https://thenationonlineng.net/women-engineers-back-nigerias-energy-transition-plan/
Lagos Residents Protest Four Months Blackout
Residents of Olushoga, Adesile, Bamgboye, Olawoyin and Olarenwaju Streets in Mushin Local Council of Lagos State have protested four months of blackout in the area.
The community claimed that they have been experiencing epileptic power supply for three years because of the continuous breakdown of the transformer servicing them.
They alleged that even after each house was recently asked to pay N10, 000 to buy new cables, there was no improvement.
https://guardian.ng/news/lagos-residents-protest-four-months-blackout/
Revoke Licences of Discos, Groups Urge FG
The Human Rights Liberty Access and Peace Defenders Foundation, and the Campaign for Democracy, South East zone, have asked the Federal Government to revoke the licences of Electricity Distribution Companies in the country.
The groups made the call in a statement made available to journalists on Monday, after their strategic general meeting.
They said the inefficiency of the electricity providers showed that the privatisation of that sector by the administration of former President Goodluck Jonathan was a “huge hoax and scam”.
https://punchng.com/revoke-licences-of-discos-groups-urge-fg/
DISCOs Meter 1m Customers in 2021
THE 11 Distribution Companies of Nigeria, DISCOs, metered 958,533 electricity customers across their business districts in 2021.
A breakdown contained in a data at the Nigerian Electricity Regulatory Commission, NERC, shows that 273,578 customers were metered in the first quarter (Q1’21), 315,717 in Q2’21, 288,154 in Q3’21 and 81,084 in Q4’21.
However, the metering gap remains high, hovering around 55 percent, despite the N60 billion support funding from the Central Bank of Nigeria, CBN, and other interventions.
https://www.vanguardngr.com/2022/10/discos-meter-about-1m-customers-in-2021/
62 Years of Unbroken Jinx in Nigeria’s Power Sector
The failure of successive administrations to solve the power sector problems even with the recent privatisation is a big embarrassment as Nigeria marks its 62nd independence, writes Festus Akanbi
As programmes lined up for this year’s independence anniversary wind down this week, one major regret of the government and the organised private sector is the colossal failure of successive administrations to satisfactorily revive the Nigerian power sector.
https://www.thisdaylive.com/index.php/2022/10/02/62-years-of-unbroken-jinx-in-nigerias-power-sector/
