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Nigeria to clear debt, fix gas shortages in plan to end power woes

Nigeria to clear debt, fix gas shortages in plan to end power woes

NIGERIA plans to fix its chronic power woes by settling outstanding debts of about $2.16 billion to energy producers and tackling gas supply shortages to generating firms, the power minister said. Africa's largest economy has 12,500 megawatts of installed capacity but only produces about a quarter of that, forcing households and businesses, including manufacturers to resort to diesel and petrol generators. Power Minister Adebayo Adelabu told reporters on Wednesday that outstanding debts, inadequate gas supplies and ageing equipment were the key barriers hampering optimal power output. Adelabu said power generators are currently owed 1.3 trillion naira ($858.65 million), in addition…
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Nigeria mulls handing over power utilities to state governments

Nigeria mulls handing over power utilities to state governments

NIGERIA'S government is considering handing over its stake in 11 power utilities to state governments to improve oversight and address the country's chronic power shortages, the minister of power said. The federal government holds a 40% interest in 11 power distribution companies (DISCOs) that were privatised a decade ago, each of which operates a franchise spanning three or more states. Nigeria's Minister of Power Adebayo Adelabu said the federal government is open to swapping its shares in the DISCOs for shares in the privately managed Niger Delta Power Holding Co, a separate power firm it jointly owns with the states…
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