Finance & Markets articles

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Power Supply: 39 billion naira Debt Threatens Operation of Egbin Power Plant

Power Supply: 39 billion naira Debt Threatens Operation of Egbin Power Plant

The chairman of Egbin Power Plc, Mr. Kola Adesina, on Monday raised the alarm that a debt of N39 billion owed by the Federal Government to the Egbin Power Station for the power it generated into the national grid since November 1, 2013 to date has created liquidity crisis that is hampering optimal operation of

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Seven Energy Seals $200M World Bank Gas Financing Deal

Independent integrated oil and gas development, production and gas distribution company, Seven Energy, has concluded a $200 million gas development deal with the World Bank. The Multilateral Investment Guarantee Agency (MIGA), a political risk insurance and credit enhancement arm of the World Bank Group, said the deal is its first engagement in Nigeria’s gas sector.

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Rural energy access and the future of SMEs by BOI

As Nigeria battles to improve the electricity generation and supply nationwide, the recent initiative of the Bank of Industry that led to the commissioning of the 48kw pilot model off-grid solar home systems in two rural communities in the North-East and South- West zones of the country is one that may not only assist in

Drastic Tariff Reform Will Boost Investment In Nigeria’s Power Infrastructure – FBN Capital

FBN Capital, the Investment Banking subsidiary of the FBN Holdings Group has highlighted that investment in the power sector can be encouraged through sustainable and consistent cost reflective tariffs. Abiola Baruwa, a Vice President of the firm made this known as part of a stakeholder forum focused on ‘Managing the Risk of Releasing Private Sector Capital for

Alstom to Supply Transformers for World’s Largest Floating Power Plant

Alstom has signed a contract with Karadeniz Energy Group, to supply power transformers for the Turkish, Karadeniz Powership Osman Khan (KPS12) power plant. At 486 MW, the Karadeniz Powership Osman Khan[1] will be the world’s largest floating power plant. The delivery is planned to be completed early 2016. Alstom will design, manufacture and deliver 200

Nigeria Loses $100 Billion To Daily Blackout

The country, which is Africa’s biggest oil producer, is still experiencing power generation bottlenecks, which previous governments had spent huge funds on, in efforts to provide electricity to Nigerians. Electricity has continued to threaten Nigeria’s role as a destination for investors, as confirmed by the latest “World Bank’s “Doing Business Report’, which places Nigeria in 189th

CBN’s N213bn power fund to be disbursed in 3 weeks

The Central Bank is working with the Nigeria Electricity Regulatory Commission (NERC) to ensure the full disbursement in three weeks, of the more than N200 billion power support fund meant to resolve a pile of legacy debts and empower generating and distribution firms to produce and wheel more electricity to businesses and homes in the

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