President of the Senate, Ahmad Lawan, has said for Nigeria to experience exponential growth in the economy, efforts must be made to strengthen the country’s local content capacities particularly against the backdrop of realities that are fallouts of the COVID-19 pandemic.

Lawan made this known yesterday at the virtual opening…

Nigerian Electricity Regulatory Commission (NERC) has issued a directive that power distribution companies (DisCos) can collect about 85.84% of the newly increased electricity tariffs from affected customers between September and December 2020.

In its latest orders in the matter of the Extraordinary Review of Multi Year Tariff Order 2015, which…

Solar system provider, Lumos has announced $35 million in new financing from the US International Development Finance Corporation (IDFC) to expand its existing market for clean and reliable solar power in Nigeria.

Lumos Group chief executive officer, Alistair Gordon said, the funding from DFC will enable people throughout Nigeria to…

The World Bank has said that it would start the disbursement of the $750 million it approved for Nigeria’s Power Sector Recovery Programme (PSRP) next year and complete the exercise in 2023.

Nigeria’s Power Sector Recovery Programme is designed to improve the reliability of electricity supply, financial sustainability, as well…

Nigeria, through the Central Bank of Nigeria (CBN) has introduced a solar intervention fund that will grant obligors access to credit facility not exceeding N500 million maximum. The CBN said the objective is to provide affordable electricity to rural dwellers in the country.

In a document released on Monday, entitled,…

Nigeria’s power sector has recorded losses amounting to N365 billion in the first half of 2020, H1’20, attributable to insufficient gas supply, distribution and transmission infrastructure. 

This represents 23% increase year-on-year (YoY) when compared to N279.81 billion losses suffered in H1’19.

A breakdown showed that, in…

The Central Bank of Nigeria (CBN) has capped the maximum loan an obligor can access under its N250 billion intervention fund for the gas sector at N10 billion.

This is contained in a guideline released on Monday, titled, “Framework for the implementation of intervention facility for…

The new chief executive officer of Seplat Petroleum Development Company Plc, Mr Roger Brown, has said that local oil firms deserve special support from the federal government if oil production restriction, which requires reducing their output is prolonged.

In order to mitigate the adverse impact of COVID-19 on