Posts by fidelismacleva:

INVESTIGATION: After acquiring $1.3bn DisCos, investors leave meter, transformer burdens to consumers

Six years ago, the Federal Government unbundled the Power Holding Company of Nigeria (PHCN) and handed over 18 utility firms to private investors. The government raked in $2.5 billion (about N916.575bn) from the transaction involving six Generation Companies (GenCos) and 11 Distribution Companies (Discos). The private investors collected their share…

Benin substation fire June 30, 2019

SPECIAL REPORT: Despite huge investment in power, Nigeria suffered 206 grid collapses in 9 years

Nigerians woke up on Wednesday, May 8, to a nationwide power outage that cut off power from many homes and factories leading to reduced load allocations to the distribution companies (DisCos). At about 5:29 am the following day (Thursday, May 9, 2019), the grid collapsed again, compounding the nation’s energy…