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AFDB Commits $200m to Coal-to-Power Projects, Says FG

AFDB Commits $200m to Coal-to-Power Projects, Says FG

In its determination to deepen the development of the renewable energy, the African Development Bank, AFDB, has offered to provide a support to the tune of about $200 million towards the growth of coal-to-power projects in Nigeria. The Managing Director and Chief Executive of Nigerian Bulk Electricity Trading PLC, NBET, Mr. Rumundaka Wonodi, who disclosed


Kainji, Jebba Rehabilitation to Gulp N72bn

Nigeria’s power supply capacity is expected to increase by 1,300 megawatts (MW) as Mainstream Energy Solution Limited and RusHydro International AG, has reached an agreement to commence the rehabilitation of Kainji and Jebba hydropower plants, worth $452 million, about N72.32 billion. This is in furtherance of a five-year cooperation agreement, reached between Mainstream and RusHydro


NDPHC Set To Boost Power Supply

The Niger Delta Power Holding Company Ltd (NDPHC) says it has concluded plans to handover distribution and transmission sub-stations to Distribution Companies (DISCOs) to boost power supply in the country. The NDPHC Head of Communication and Public Relations, Mr. Yakubu Lawal, made this known in an interview in Abuja on Monday. He said the sub-stations,


VAT Remittance Deadline for Power Firms Expires

The deadline set for remittance of outstanding Value Added Taxes, VAT, deducted by power sector operators by the Federal Inland Revenue Service , FIRS, and the National Electricity Regulatory Commission, NERC, expires today. The deadline is part of the collaboration between the organisations to ensure prompt remittance of taxes by power sector operators in the


$200m Power Plant Gets Debt-to-Equity Finance Structure

THE prospective investors of the 500 megawatt gas-powered plant in Sapele, Delta State- Proton Energy, said the outfit’s initial capacity is projected to cost approximately $200 million and would be funded on a project finance structure of 70 per cent debt and 30 per cent equity basis. The funding, according to the company, would also


Okonjo-Iweala Tasks FIRS on Improved Revenue, Technology

THE Minister of Finance, Dr Ngozi Okonjo-Iweala, on Tuesday urged the Federal Inland Revenue Service (FIRS) to deploy more technology-based platforms to boost its operations and revenue collection. Okonjo-Iweala made the call at a workshop on “Promoting Voluntary Compliance in the Power Sector through Automation,” organised by FIRS in collaboration with Nigeria Electricity Regulatory Commission

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