Transcorp records an impressive Profit After Tax of N20.6bn

Transnational Corporation of Nigeria Plc (Transcorp) has announced its audited results for the year ended 31st December 2018, with a 94% growth in Profit After Tax (PAT) of ₦20.6bn in 2018 compared to ₦10.6bn in the prior year. The Group, Nigeria’s leading diversified listed conglomerate,…

Fashola announces approval of 108 meter providers (Punch)

The Minister of Power, Works and Housing, Mr Babatunde Fashola, has announced the approval of 108 firms for the supply of meters to electricity consumers in the country. Fashola made the announcement during the continuation of his neighbourhood consultations/campaign for…

IFC signs MoU to help Lagos improve infrastructure, revenue (Sun)

The International Finance Corporation (IFC) has announced its readiness to provide advisory services to Lagos State government to enhance its infrastructure development and strengthen long-term financial sustainability. The advisory services to be offered by IFC will be designed to improve…

Atiku shares his thoughts on Bridging the Infrastructure gap (#Time2Atikulate series)

Atiku Abubakar has said Nigeria suffers a huge infrastructure deficit. According to the PDP presidential front runner, “poor funding and chronic underinvestment by successive governments have crippled the state of Nigeria’s infrastructure. Leaving an annual funding gap in excess of N15…

To distribute 20,000MW, Discos need $4bn investment by 2021- TCN (ThisDay)

The Transmission Company of Nigeria (TCN) has said that electricity distribution companies (Discos) would have to invest about $4 billion over the next three years to be able to match its ongoing expansion of the national grid to take up…

TCN targets 20,000MW of electricity by 2021 (Thisday)

The Transmission Company of Nigeria (TCN) has promised that it would attain the capacity to transmit 20,000 megawatts of electricity to Nigerians by 2021. TCN’s Managing Director, Mr. Usman Mohammed gave the assurance Monday during the inauguration of the 1x60MVA,…

7 conditions Nigeria FG must meet to avoid ‘total darkness’ in country- Gencos

Power generation companies (Gencos) in Nigeria have listed six conditions that must be met by the federal government or they shut down their operations. The conditions listed below are coming after the distribution companies (Discos) kicked against the FG’s selection…

Nigeria needs new technologies to address power, metering challenges – Buhari (Vanguard)

President Muhammadu Buhari has stated that Nigeria was in dire need of new engineering technologies to address its power supply and metering challenges. Speaking at the 27th Engineering Assembly of the Council for the Regulation of Engineering in Nigeria, COREN,…

Nigeria’s power sector loses N300bn in 7 months – VP’s Office

Nigeria’s power sector in seven months of 2018 has lost N300 billion due to insufficient gas supply, distribution, and transmission infrastructure. A report obtained from the Office of the Vice President, Yemi Osinbajo, according to Vanguard, stated that “estimated amount lost…

Buhari vs OBJ – The Battle line is drawn – Magnus Onyibe

There is hardly any fairly educated person that’s not familiar with the wise crack:  ‘He who fights and runs away, lives to fight another day.’ The fight that Former president Olusegun Obasanjo, (OBJ) was spoiling for via a nasty letter…

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