(i) Punch Newspaper on page 14, Vanguard page 4 and Leadership page 26 all reported that, Federal Government has entered into partnership with the Turkish energy firm EXIST (Energy Exchange Instanbul), to design a functional trading structure for Nigerian Electricity Supply Industry, among others.
Federal Government said the cooperation agreement, signed between NBET and EXIST at the Latter’s Campus in Maslak, Turkey, is designed to explore mutual benefits, opportunities for growth between both Agencies.
Details of the stories captioned as follows:
Punch: “FG, Turkey to design electricity trading structure”.
Vanguard: “NBET, Turkish firm, EXIST, seal deal to liberalize electricity market”.
Leadership: “NBET sign pact with Turkish firm, EXIST to boost electricity market’’.
(ii) Punch Newspaper page 27 reports that, capacity of 11 Electricity Distribution Companies, otherwise known as (DisCos), to absorb more power generated by Generating Companies, GenCos grew by 19 percent, since the sector was privatized.
Details of the story captioned:“DisCos’ capacity rises by 19% after privatization”.
(iii) Punch Newspaper page 28 reports that, two Ministries of the Federal Government are in partnership with the private sector operators through the Public Private Partnership arrangement to generate 3,595 megawatts of electricity from dam to the nation’s power grid.
Details of the story captioned: “Electricity Crisis: FG, private sector to produce 3,595MW”.
(iv) Punch Newspaper page 43 reports that, Austrian Chancellor Karl Nehammer has backs European Union-Wide cap on runaway electricity prices.
According to the paper, an Austria’s Conservative-Led government was initially skeptical at the idea of capping power prices but has been warned on the idea, as they have continued to rise in line with soaring gas prices following Russia’s invasion of Ukraine.
Details of the story captioned: “Austria backs EU cap to runaway power prices”.
(i) Daily Sun Newspaper page 25 reports that, N2.9 trillion lifeline by Central Bank of Nigeria (CBN), through various intervention funds has saved Deposit Money Banks (DMBs) and Power Sector from total collapse.
Details of the story captioned: “How CBN’s N2.9 trillion intervention saved banks, power sector from collapse – stakeholders”.
(ii) Daily Sun Newspaper page 21 reports that, despite the challenges confronting Nigeria Electricity Supply Industry (NESI), since its unbundling in 2013, have recorded some measure of achievements and progress.
Direction of Marketing and Sponsorship, Nigeria Power Sector Awards Limited, Rachael Salehu, said the Awards is aims to achieve three broad objectives; to reward and incentivize organizations and individuals who have contributed in measurable ways to the improvements, growth and progress in the sector.
Details of the story captioned: “Nigeria power sector award to recognize investors, operators”.
(i) Nation Newspaper page 13 reports that, Alagbaka Power Limited, a Public Private Partnership between Ondo State Government and Advad Limited, at the weekend opened application list for subscription for a N4.2 billion bond issuance.
Net proceeds of the board issue is be used to build and operate 4.5 megawatts power plant in Alagbaka, Ondo State.Details of the story captioned: “Firm floats 4.2b bond to build Ondo power plant”.
(ii) Nation Newspaper page 4 reports that, Nigeria’s $1.5 billion annual requirement to implement its energy transition plan on power sector reforms is already getting support from international partners.
World Bank pledged $1.5 billion and Nigeria is also in discussion for another $1.5 billion finance package from a US-based financial institution.
Details of the story captioned: “Tackling Energy poverty, climate change with new Energy Transition plan”.
(i) Daily Trust Newspaper page 20 reports that, Jos Electricity Distribution Company (JED), has raised over 20 poles and electrical wires in communities of Bassa Local Government Area of Plateau State following the rainstorm.
Details of the story captioned: “After Daily Trust report, Jos DisCo resumes work in Plateau Communities”.(ii) Daily Trust Newspaper page 20 reports that, a middle aged man has died while trying to steal electric cables from a transformer at Lakeview Homes Estate, Phase II, Mabushi Area, Abuja.
Details of the story captioned: “Man dies attempting to steal electric cables”.
Assistant Director (Press)