By Seun Ibiyemi Despite blackouts in some parts of the country, the electricity distribution companies in Nigeria generated revenue of N291.62bn in the first quarter of 2024. This was even as the nation lost 673 megawatts of power generation capacity…
The federal government has categorised all electricity companies, including the Generation and Distribution Companies (GenCos and DisCos), as those exempted from the payment of Withholding Tax in the country. This was contained in the new Withholding Tax regulation document signed…
A High Court in Lagos has issued an interim order preventing 10 electricity distribution companies (DisCos) and the Nigerian Electricity Regulatory Commission (NERC) from increasing tariffs. Presiding Judge Lewis Allagoa granted the ex parte order on Monday, June 10. According…
Power Distribution Companies (Discos) are reportedly contemplating widespread disconnections of several companies and factories, fearing substantial losses estimated in billions of naira. Recall that following the surge in electricity tariffs for Band A customers in the nation from N66/kWh to…
By Matthew Denis Respite is on the way in the power sector as the Federal Government has borrowed a whopping sum of $500 million from the World Bank to strengthen electricity distribution in the country. This was disclosed in a…
The Federal Government spent N628.61 billion as subsidy on electricity in 2023, as power distribution companies collected a total revenue of N1.08 trillion during the same period, the latest industry data obtained from the Nigerian Electricity Regulatory Commission during the…
…As IBDEC, Ikeja Electric announce reduction in tariff The Nigerian Electricity Regulatory Commission (NERC) has approved a downward review of electricity tariff for Band ‘A’ customers from N225/kWh to N206.80 Under the approved review, Band ‘A’ customers who were previously…
The Minister of Power, Chief Adebayo Adelabu, has said that the federal government would sell off the five electricity Distribution Companies (DisCos) now under the management of banks and Asset Management Company (AMCON) in the next three months to reputable…
Electricity report recently published by the National Bureau of Statistics has revealed that the total customer numbers of Electric Distribution Companies (Discos) in Q4 2023 stood at 12.12 million from 11.71 million in Q3 2023, showing an increase of 3.46 percent.…
The Transmission Company of Nigeria (TCN) has revealed that power allocation to Distribution companies (DisCos) rose to 3155MW. The Commission was responding to news making the rounds that power generation on Thursday, April 11, 2024, dropped by 32.31 percent to…
