Reps approve bill for host communities to get 5% from GENCOs’ revenue

$NCC, MDA, SEEPCO, local content laws, CBN Cashless Policy: Reps eye policy reversal, court Emiefele approval , Lawmakers tackle Finance Minister over failed CCTV project worth $460 million , Former Ghanaian President, Mahama begs Buhari to open border Former President of Ghana, John Mahama has appealed to President Muhammadu Buhari to open up its borders saying that Ghana has been heavily affected by Nigeria’s decision to close its borders. Mahama said that for economic activities to resume in West Africa, Nigeria needs to reconsider its decision on the total border closure. He made this plea while delivering the seventh anniversary lecture of investiture into The Realnews Hall of Fame and the unveiling of a book, titled: Pathways to Political and Economic Development of Africa. According to the former president as reported in The Nation, the closure of especially the Benin border, was taking a significant toll on many small and medium businesses, especially in Togo, Ghana and Cote D’Ivoire, which relied on inter-country trade. “I am sure that businesses in Nigeria that rely on supplies from these countries are also suffering. With the signing of the joint border task force agreement between Nigeria and her neighbours, I will like to take this opportunity to appeal to Nigeria to open up her border so that economic activities can resume,” Mahama said. While reacting to the shut down of shops owned by Nigerians by the Ghana Union of Traders’ Association (GUTA) as retaliation to the border closure, Mahama said; “Back home in Ghana, I also look forward to our government’s intervention that brings an immediate cessation to the forceful and illegal closure of shops of foreigners, especially Nigerians, by members of the local trade associations”. Mahama who is a former Chairman of the Economic Community of West Africa States (ECOWAS) spoke on how he still has an abiding interest in the progress of ECOWAS and its people. In this light, he said that Nigeria being the home of ECOWAS and the largest economy in West Africa should not allow the objective principles for establishment of ECOWAS to be lost. Meanwhile, the Vice Chancellor of Niger Delta University, Bayelsa State, Prof. Samuel Edoumiekumo, advised President Muhammadu Buhari not to yield to pressure to reopen the borders. Edoumiekumo who was also present at the lecture said President Buhari should remain firm in his resolve to ensure economic growth and the country’s development as the border closure will generate more revenue for the nation and tackle smuggling., Nigerians are enraged as lawmakers reject Innoson cars for latest Toyota Camry , FMBN ex-MD ordered to refund his salary, submit FMBN accounts over infractions$

The House of Reps has approved for final reading, a law compelling GENCOs to set aside 5% of their revenue ...

The Nigerian Electricity Regulatory Commission (NERC), National electricity grid collapses again, as NUEE suspends strike action , FG to increase electricity tariffs in order to improve power supply, Power: Liquidity crisis-same old story in 2020?, GenCos urges NBET to pay up N1 trillion debt, Electricity Tariff: FG, electricity stakeholders to work on equitable rate , Power: NERC applies "brakes" on hike in tariffs, NERC to sanction 7 DisCos over uncapped estimated billing

NBET owes GenCos N144 billion in Q3 2020

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NBET failed to pay GenCos for the electricity produced and fed into the national grid in the third quarter of ...

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Power: No solution at hand

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February 17, 2020

Based on data from the Advisory Power Team in the Office of the VP, the nation's power sector lost an ...

GenCos urge NBET to pay up N1 trillion debt

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The Nigerian Bulk Electricity Trading Plc (NBET) is reportedly owing Power Generation Companies (GenCos) in the country about N1 trillion ...

Gas supply drops by 225 million scfd, stalls power generation

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January 1, 2020

The volume of gas supplied to gas-fired power plants dropped from 820 million standard cubic feet per day (mmscfd) in ...

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December 4, 2019

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Senate to probe GenCos, DisCos as Nigerian companies relocate to Ghana over power supply

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November 21, 2019

GenCos and DisCos will be probed by the Nigerian Senate over unstable power supply that has become the order of ...

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GenCos to shut down over NBET’s administrative charge

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GenCos want Discos’ job as it seeks to sell electricity directly to customers

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Here is why Gencos may halt power sector investment plans

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Power Generation Companies (Gencos) may no longer input any investment in the power sector should the current market conditions where it declared generation ...

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