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Tag Archives: Discos

Recapitalisation, debts reecho as ECOWAS power summit begins

fashola switches op transmiter

The sixth Powering Africa: Nigeria 2017 Summit, with the theme: “Recapitalising Nigeria’s Power Sector,” yesterday kicked off with high expectations that solutions will be proffered in regards to nation’s energy problems. Otherwise, Distribution Companies (Discos) and Transmission Company of Nigeria (TCN) which had been piling pressure for recapitalisation of the power sector for efficient service delivery will fire from all ...

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Power hits 7001MW, all time high, but evacuations remain poor

TCN

The irony of Nigeria’s power crisis stemmed from the veiled truth that Africa’s largest economy now has the capacity to produce more power than it can distribute. This is based on the fact that since September 12 this year (2017), Nigeria’s power production reached an all-time peak of 7,001 MW, but what was evacuated is less than 4301MW. Investigations show ...

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Why Gencos’ revenue dropped to N32bn in May

NBET

More facts have emerged on why several power generation companies (Gencos) recorded about N31.7 billion revenue shortfall in the month of May. Findings by Business Hilights indicated that the shortfall stemmed from the failure of Discos to pay commensurate invoices on one side, and shortfall in the N701 billion Federal Government intervention fund by Central Bank of Nigeria (CBN). Facts ...

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Can Fashola’s strange advice on direct purchase from Gencos boost or kill Discos?

ANED

The recent advice from the Minister of Power, Works and Housing, Mr. Babatunde Fashola, to eligible power consumers to purchase electricity directly from power generation companies has generated serious confusion in the industry. The Minister last week empowered the consumer to buy electricity directly from licensees other than the power distribution companies, a development that the Discos recently opposed, saying ...

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FG’ll not review power privatization, but causes of poor performance

Babatunde Fashola

Strange indications are emerging from the corridor of the federal Ministry of Power, Works and Housing, suggesting that contrary to trending expectations of Nigerians and experts in the sector that the best bet for the power sector remains a review of the privatization spree, government is now looking at finding out areas of pitfalls. Some senior officials of the Ministry ...

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NERC empowered to punish Discos rejecting supply of power for distribution

Babatunde Fashola

Due to observed non evacuation of generated power from Gencos by Discos, the Federal Government has directed the regulatory, Nigerian Electricity Regulatory Commission (NERC) to henceforth, sanction distribution companies that reject electricity allocated to them by the Transmission Company of Nigeria (TCN). Before the new mandate, TCN had been threatening Discos but cannot do anything at the end of the ...

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Any W/bank facility to Discos’ll be diverted to paying bad loans, meaning no light—Expert

fashola switches op transmiter

Whereas the Federal Government is seeking $5.2bn from the World Bank to expand electricity generation and distribution, an energy consultant, Shaibu Dada has warned that such facility will be diverted into settling existing bad loans which will translate to continued darkness and more debts. Only last week, the Minister Power, Works and Housing, Babatunde Fashola revealed that the major hidden ...

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Fashola uncovers key reason for funding crisis in Nigerian power sector

fashola switches op transmiter

Contrary to speculations and claims that debts owed power distribution companies (Discos) and Gencos were the major cause of paucity of fund, the Minister of Power, Works and Housing, Mr. Babtunde Fashola, has disclosed that their top officials were awarding inflated contracts to their relatives. He said this act compounded the cash crisis prevailing in the sector in the last ...

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Discos focusing on servicing loans not investing in metering, transformers, others—report

Amaechi-Fashola-Buhari-2

Fresh reason has emerged on why the country may not experience better services from Power Distribution Companies (Discos) any time soon. Otherwise, the Federal Government’s Power Sector Recovery Programme (PSRP) report bumped on by our Energy Correspondent has shown that “Evidence seems to suggest that the Discos are focused on servicing their acquisition loans rather than investing in metering, transformers, etc. ...

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Expert berates Gencos, Discos for not investing enough since take over

Babatunde Fashola

Energy analyst, Dr. Gayus Musa has lampooned Power generation and distribution firms for not investing or drawing inflow of foreign direct investment (FDI) since they took over the sector few years ago. He accused the companies of trying to jerk up tariffs and use it to develop their infrastructures instead of driving FDI to deepen services. In an exclusive interview ...

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