20 results
- 22 Jan 2023
SERAP Sues Buhari Over Failure to ‘Reverse Unlawful Electricity Tariff Hike’.
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari over “the failure to reverse the unlawful, unjust, and unreasonable increase in…
- 14 Aug 2019
FG May Pay ‘Failed Investors’ N736Bn to Repossess Discos
Federal government is considering repossession of 10 electricity distribution firms as one of the options to rescue the nation’s beleaguered electricity industry. According to the Punch, this…
- 23 Jul 2018
ANED Asks Fashola, Minister to Account for $4.1m Electricity Money
Association of Nigerian Electricity Distributors (ANED) has accused Raji Fashola, minister of Power, Works and Housing of spending $5.6 million to generate 1megawatt of electricity instead of $1.5…
- 27 Mar 2015
Coal to Power: AfDB Commits $200m to Nigeria’s ‘Dirty Fuel’
African Development Bank (AfDB) has put up $200 million as a partial risk guarantee for the Nigerian power sector and the federal government will use the funds for expansion of coal-fired power…
- 20 Dec 2017
Azura Power’s First Turbine Connects To Grid
By peter oluka Wednesday, Azura Power’s first turbine was synchronized to the national grid and began producing electricity for distribution across the country. This is a red-letter day for the…
- 22 Feb 2026
$214Bn Missing, Institutions Silent: Is Accountability Dead in Nigeria?
By Blaise Udunze Between 2010 and 2026, a staggering $214 billion, approximately N300 trillion in public funds, has been reported as missing, unaccounted for, diverted, unrecovered, irregularly…
- 21 Jul 2016
FG Partners 14 Firms on $1.75Bn Solar Power Project
The Federal Government on Thursday in Abuja signed a Front-Runner Solar Power Purchase Agreements (PPAs) worth 1.75 billion dollars with 14 companies to build 1.125 Megawatts(MW) capacity of…
- 5 May 2014
Azura Power Completes Signing $1Bn 450MW Gas Turbine IPP
Azura Power Holdings Limited has completed the signing of the key industry contracts and confirmation on the debt financing of its flagship 450MW Azura-Edo Independent Power Project (“Azura-Edo IPP”)…
- 21 Jul 2026
FG Clears Power Sector Debt as N333bn Paid to GenCos, N729bn Bond Issued
Federal Government has announced the disbursement of about N333 billion to eight electricity generation companies (GenCos) as part of measures to resolve outstanding debts in the power sector. The…
- 23 Apr 2013
MPN Join Venture Inks Agreement on Qua Ibom Power Project
Mobil Producing Nigeria Unlimited (MPN), operator of the Nigerian National Petroleum Corporation (NNPC) / MPN Joint Venture, has signed a seller’s representative agreement (SRA) for the Qua Iboe…
- 18 Feb 2021
NERC Moves to Tackle Load Rejection Issues Between TCN, DisCos
The Nigerian Electricity Regulatory Commission (NERC) says Electricity Distribution Companies (DisCos) will be liable to pay capacity charge for rejecting load allocated to them due to constraints on…
- 11 Oct 2014
President Jonathan Leads Azura-Edo IPP Ground Breaking, Foundation Laying Ceremony
Azura Power Holdings Ltd, on Friday, conducted the official groundbreaking and foundation laying ceremony at the Azura-Edo Independent Power Project (IPP) in Benin, Nigeria. The ceremony was…
- 24 Nov 2024
Massive N197bn Contract Fraud Uncovered in MDAs by Auditor-General
A recent report by the Auditor-General of the Federation has uncovered financial irregularities totaling over N197.72 billion across various ministries, departments, and agencies (MDAs) in Nigeria.…
- 6 Apr 2025
SERAP Calls on Tinubu to Reject $1.08Bn Loan, Probe Missing Funds
Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to decline the recently approved $1.08 billion loan from the World Bank. The organization emphasized the need…
- 11 Apr 2017
Nigeria’s #1 Payments Service Paga, Celebrates 8 Years Anniversary
Paga, Nigeria’s pioneering Payments and Digital Financial Services Company celebrates her 8th anniversary. In 2009, Paga set out with a mission to deliver innovative and universal access to financial…
- 29 Sept 2023
Proparco Marks 15 Years in Nigeria with $1Bn Worth of Investments
Proparco, a French development finance institution, is proud to mark 15 years of operations in Nigeria with a total of USD 1B invested over the period. Since its inception in Nigeria in 2008,…
- 12 Nov 2025
Taxing, Borrowing the Future Without Building: What Has Nigeria’s Fiscal Authority Done for the Real Sector?
By Blaise Udunze In today’s Nigeria, one uncomfortable truth has become glaring that the fiscal authority collects, but it does not build. It borrows, but it does not produce. It taxes, but it does…
- 10 Nov 2015
Access Infra Africa, QGES Sign $100m Nigerian Solar Plant
Access Infra Africa has signed a joint development agreement with Nigerian Quaint Global Energy Solutions for a 50 megawatt solar power plant that is expected to provide electricity for over 600,000…
- 6 Oct 2008
Pirates Wreak Havoc in Alaba Int’l Market
Alaba International Market, major centre for electronics and electrical products in West Africa is sopping with fake digital video discs (DVDs) and compact discs (CDs) calling for measures to stem…
- 23 Dec 2020
Stanbic IBTC Pension Fund Managers to Invest in Real Estate, Infrastructure
Stanbic IBTC Pension Fund Managers, Nigeria’s biggest pension-fund manager wants the flexibility to invest directly in large local projects. Financing the development of domestic industries with…