At the inauguration of the Management Board of the Nigerian Bulk Electricity Trading Plc (NBET), last year August, President Goodluck Jonathan said of the board, “I have every confidence that you will faithfully execute this mandate of serving as a bulwark against the potential payment default by distribution companies until they become financially strong to directly enter into power purchase agreement on bilateral basis”.
“I therefore, expect that you will carry out diligently the job of negotiating and signing of future contract agreements with power producers.” President Jonathan further said, in order to attract the confidence of consumers and the goodwill of international partners.
Jonathan restated the commitment of his administration to the power sector reform, noting that the necessary process would not be abridged. “We are quite determined to conclude all processes that would lead to generation, transmission and distribution of improved stable and regular power supply to our people,” he said.

Atedo Peterside, Chairman, Technical Committee of NCP

A new era beckons in the power sector as Integrated Energy Distribution and Marketing Limited, a firm in which Gen. Abdusalami Abubakar former Head of State, is the chairman, is set to acquire three of the juiciest electricity distribution companies in the country. The electricity distribution companies are Eko, Ikeja and Ibadan. Integrated Energy Distribution and Marketing was prequalified to take control of the companies at the opening of bids submitted by 20 firms jostling for controlling stakes in 10 electricity distribution companies that have been put up for privatisation by the Federal Government last week Tuesday in Abuja.

The Nigerian National Petroleum Corporation, NNPC, and Genesis Electricity Ltd have signed a Memorandum of Understanding designed to bolster power supply to the Port Harcourt Refining Company, PHRC, and strengthen its production capacity.

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Engr. Andrew Yakubu has revealed that a significant milestone has been recorded in the oil and gas sector as Nigerian crude oil production has increased from 2.4 Million barrels per day to 2.7 mbpd.

Dr Sam Amadi, Chairman, National Electricity Regulatory Commission

The Nigerian Electricity Regulatory Commission (NERC) said last week that it sees the federal government achieving the 4,500 megawatts of power target set for the country by year-end. But is this what we really need? asks ALEXANDER EKEMENAH in this report

Diezani Allison-Madueke was the surprise choice to head sub-Saharan Africa’s biggest oil and gas exporter when Goodluck Jonathan, then acting president, unveiled his cabinet April 2010.
The new minister’s principal task was to bring the long-delayed Petroleum Industry Bill – the most ambitious overhaul in the industry’s 50-year history – into law. This she could not do in the time she has headed the ministry.

A source from Nigerian National Petroleum Corporation (NNPC) said last week that Nigeria is making progress towards resolving a dispute with Exxon Mobil over oil licensing renewals covering fields producing more than 500,000 barrels per day.

DR Lanre Babalola has always been a proponent of reforms in power sector; sometimes he goes it alone. The way the man sees it: no reforms, no industry. It is that fundamental.  He believes that the reforms that would   increase electricity generation and bring efficiency into the system, is non negotiable.