Saturday, November 29, 2025
25.2 C
Lagos

Nigeria Plans 2,000 MW Power Capacity in 2016

The Nigerian government has unveiled plans to install 2000 MW of additional power plants in the country this year. This was announced by the Minister of Power, Babatunde Raji Fashola in Abuja.

Fashola said: “It is possible. I believe we can do it if we can implement the right methodology”.

During budget defence of his ministry before the Senate Committee on Power and Mines, the Minister said the national power industry was undergoing changes that would gradually lead to its independence in the nearest future.

He added that a major part of the 2016 budget would be directed towards the completion of various on-going power projects in the country and also expansion of the national transmission grid.

At the recent COP 21 event, Nigeria made concerted efforts to inject additional 13,000 MW to its power capacity through off-grid power plants.

spot_img
spot_img
spot_img

Hot this week

NGX T+2 Settlement Cycle ‘Goes Live’ Event

L – R: Chinwendu Ekeh, Head, Operations & IT,...

Dangote Contracts Honeywell for Major Refinery Capacity Upgrade to 1.4m BPD

Dangote Group is pleased to announce that it has...

AIICO Launches All-in-One Financial Protection for Nigeria’s Underserved Population

L-R: Mr. Mike Eko – (Novus Agro Limited) Mr. Oluwatosin...

NNPC Declares ₦5.4tn Profit After Tax

NNPC Limited has announced its financial performance for the...

Stanbic IBTC Unveils Digital Lending Suite to Enhance Access to Credit

Stanbic IBTC Bank, a member of Standard Bank Group,...

Topics

Oando Joins African Energy Week 2023 as Platinum Sponsor, Clean Energy Partner

    The African Energy Chamber (AEC) is pleased to announce...

NCDMB ES, SPDC Officials Visit Brightwaters Energy, Laud firm’s Capabilities for Industry Projects

Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe leading top...

NNPC: An Ugly, Dirty Story!

The Nigerian National Petroleum Corporation (NNPC) is a Bad Story. Today, right thinking members of the Nigerian society are asking just one question: What is wrong with NNPC? In the past few years and running, the NNPC has been in the news for all the wrong reasons- from frequent sacking of its group managing directors, which gives a picture of instability and incompetence, to endless allegations of insolvency and rampant fraud.

Stock Market Statistics: Wednesday, 18th October 2017

Market Cap (N'bn)               12,612.6 Market...

Experts to Discuss Infrastructure Financing at FICAN Conference

The President/Chief Executive of the Africa Finance Corporation (AFC),...

‘Smart City Solutions Indispensable for Tackling Urbanisation Challenge’

Carl Wright, Secretary-General of the Commonwealth Local Government Forum...

Banks, Telcos Disagreement Hindering Mobile Money Services

The inability of banks and telecom operators to agree on modalities for mobile money operations is hindering the potential of such transactions in Nigeria, compared to the acclaimed success of M-pesa in Kenya. Mobile money transactions need legislations and approvals from both the Central Bank of Nigeria (CBN) which regulates the banking sector and the Nigerian Communications Commission (NCC) that oversees telecom services in the country. Giving an insight into the success of M-Pesa in Kenya at the Commonwealth Broadband Forum 2015 in Abuja, Mr. Joseph Tiampati Musuni, Principal Secretary, Ministry of Information, Communications and Technology, Kenya, said their country experienced a similar Banks-Telcos disagreement at the outset of mobile money services in Kenya. But he added that the government was able to facilitate an amicable and working arrangement between them to pave way for roll-out of the service.

African Dev Bank Unveils $500m Deal with African Trade Insurance Agency

The African Development Bank (AfDB) and African Trade Insurance...
spot_img

Related Articles

Popular Categories

spot_imgspot_img