TCN to build 2 substations in Kaduna, Zaria

TCN to build 2 substations in Kaduna, Zaria

The Transmission Company of Nigeria (TCN) has disclosed that it is prepared to build two new 330KV substations in Kaduna and Zaria, and four additional 132 KV substations at Rigasa Kakau, Rigachun and Jaji, while it will reconstruct the Kaduna-Kano transmission line. Daily Trust reports the transmission line has been faulty for over two years and is yet to be repaired. In a statement through TCN’s General Manager, Public Affairs, Seun Olagunju, the Interim Managing Director, Mr. Usman Cur Mohammed, expressed appreciation for the support received from Kaduna State Governor,…

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Grid loses 3,500mw as gas, frequency leave 36 turbines idle

Grid loses 3,500mw as gas, frequency leave 36 turbines idle

The electricity grid lost 3,500 megawatts (mw) last Wednesday due to shortage of gas, transmission frequency issue and the inability of feeders across some Distribution Companies (DisCos) to take power. The grid also dropped by 553mw last Sunday from the previous peak generation of 4,053mw record attained on Saturday, July 1, 2017, records have shown. The daily power sector report of the Transmission Company of Nigeria (TCN) shows that power began dropping same Saturday as the lowest electricity generation was 2,638mw. The peak generation later dropped to 3,510mw by Sunday,…

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Loan: Shareholders urge Etisalat to pay up

Loan: Shareholders urge Etisalat to pay up

Some shareholder groups in the capital market, yesterday, urged Etisalat Nigeria to settle the N1.2 billion debt it owed 13 commercial banks to avoid a takeover. A cross section of the shareholder groups stated this in an interview with the News Agency of Nigeria (NAN) in Lagos on Tuesday. They insisted that the company must settle the debt for the banks to meet up with their dividend obligations. The National Coordinator, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, called on Etisalat to settle the debt owed the commercial banks…

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France to invest €1bn in Nigeria’s oil, gas sector – NNPC

France to invest €1bn in Nigeria’s oil, gas sector – NNPC

The French Government has said that it has set aside about one billion euros to be invested in the Nigeria oil and gas industry, stating that Nigeria remains her first economic trading partner in Africa. The France Ambassador to Nigeria, Denys Gauer, said this when the Group General Manager, Group Public Affairs Division (GPAD) of the Nigerian National Petroleum Corporation (NNPC), Mr. Ndu Ughamadu, led a delegation to his office in Abuja. Mr. Gauer said that French Development Agency has put the money in place to encourage French investors to…

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Buying Fake, Expired or Original Products in Nigerian Shops, Malls or Superstores

Buying Fake, Expired or Original Products in Nigerian Shops, Malls or Superstores

These pictures draw our attentions to the need to be careful when buying consumables from shops, superstores or supermarket. A survey by nigeriaheartbeat to a local corner shop reveled the images you see in this post. The popular HEINZ salad cream in the first picture shows that the expiration date, though indicated as still within range for consumption had some anomalies in its appearance. It didn’t appear to be properly printed so we decided to try n clean it off by rubbing it with the thumb, surprisingly it started to…

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Dangote targets 25,000 hectares of rice in Sokoto

Dangote targets 25,000 hectares of rice in Sokoto

Dangote Rice, a subsidiary of Dangote Group, is set to launch in Sokoto State it’s multi-million naira 25,000 hectares of rice outgrower scheme with a prospect of hundreds of employment opportunities for the rural communities. By year-end 2017, Dangote Rice plans to produce 225,000MT of parboiled, milled white rice. This will allow us to satisfy 4% of the total market demand within 1 year. Our model can then be successfully scaled to produce 1,000,000MT of milled rice in order to satisfy 16 per cent of the domestic market demand for…

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Niger Delta stakeholders warn against open destruction of illegal refineries

Niger Delta stakeholders warn against open destruction of illegal refineries

Niger Delta stakeholders, including oil-producing communities, regulators and civil society groups, yesterday warned against the open destruction of illegal refineries by the security forces operating in the region. In a communique released at the end of the quarterly meeting of the Multi-stakeholder Platform (MSP) on Oil Spill in the Niger Delta, the concerned groups said the action by soldiers was capable of further destroying the ecosystem of the region. At the MSP forum, which is an initiative of the Nigeria Security and Reconciliation Programme (NSRP) and supported by the Department of…

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Nigeria’s January inflation seen to remain flat

Nigeria’s January inflation seen to remain flat

The Financial Derivatives Company Limited (FDC) has estimated a relatively flat movement in the January headline inflation rate to 18.6 per cent, from 18.55 per cent recorded in December. The National Bureau of Statistics is expected to release January inflation figures tomorrow, according to its data release calendar. Prices have generally either declined or remained flat recently. The food basket especially has been relatively more inelastic than other commodities, according to the FDC. The research and investment firm noted seasonality effects, supply shocks and exchange rate pass through effects through…

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DisCos fail to settle N243bn GenCos’ debts

DisCos fail to settle N243bn GenCos’ debts

The 11 electricity Distribution Companies (DisCos) operating in Nigeria have not settled a debt of N243bn for power supplied by 25 Generating Companies (GenCos) as at the end of 2016. Latest data released by the National Bureau of Statistics (NBS) indicated that DisCos paid N88 billion out of invoice of N331bn issued to them by GenCos last year, leaving a debt of N243bn. The Daily Trust reports that the mostly privatised power sector has faced acute illiquidity in the year with a shortfall of over N803bn by December, a development…

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