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The Nigerian Electricity Regulatory Commission has said that power distribution companies may begin to bear the cost of equipment used to repair faulty transformers and other transmission infrastructure replacements.
It said if the measure is implemented, it will ensure Discos are more prudent and careful with the management of electricity infrastructure.
This came as the Chief Executive Officer of the Association of Power Generation Companies, Joy Ogaji, said that Nigeria recorded 162 cases of grid collapse from 2013 to date.
The Chairman of NERC, Sanusi Garba, and Ogaji, spoke at a public hearing on incessant grid collapses organised by the power sector regulator on Thursday to investigate reasons for the multiple collapses of the national grid.
The Central Bank of Nigeria has announced that there is no deadline on the circulation of old N200, N500 and N1000 bank notes. The spokesperson of CBN, Sidi Hakama disclosed this in a statement on Thursday. This comes amid speculations that the old Naira notes will cease to be legal tender from December 31, 2024. However, the apex bank clarified that the claim is false, stressing that all bank notes […]
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