- Power Generation Returns to 4,000MW as Hydro Plants Recover
The nation’s power generation has returned to the 4,000 megawatts mark following the recovery in the output of hydropower plants and a few thermal plants.
The nation generates most of its electricity from gas-fired power plants, while output from hydropower plants makes up about 30 per cent of total generation.
Generation from Kainji, Jebba and Shiroro hydro plants fell to 173MW, 210MW and 205MW, respectively as of 6am on November 25 from 403MW, 340MW and 295 on November 23.
The total generation, therefore, dropped from 4,077.8MW on November 23 to 3,662.6MW on November 25, according to the latest data obtained from the Federal Ministry of Power, Works and Housing on Thursday.
But the generation rose to 4,016.1MW on November 28 from the 3,828.2MW recorded the previous day, buoyed largely by the increase in the output from Kainji, Jebba and Shiroro hydro plants, which generated 382MW, 326MW and 199MW, respectively that day.
Electricity generation from Egbin, the nation’s biggest power station, stood at 513MW on November 28, compared to the 1,085MW achieved on March 15, 2016. The plant has an installed capacity of 1,320MW, consisting of six units of 220MW each.
Six power plants, including Sapele I and Alaoji II, were not generating any megawatt as of 6am on November 28.
Other idle plants were Gbarain II, AES, ASCO and Rivers IPP, according to the ministry.
Sapele’s ST1 unit was said to have tripped on low drum level; the ST2 out on maintenance; the ST4 and 5 awaiting major overhaul; and the ST6 tripped on gas control valve not following reference point.
Units GT1 and 2 of Alaoji tripped due to low gas pressure; the GT3 was shut down due to generator air inlet filter trouble, and the GT4 out on maintenance.
Gbarain’s GT2 unit was out due to heater problem; the AES, out of production since November 27, 2014; ASCO’s GT1 was shut down due to leakage in the furnace, and the Rivers IPP, out of production since November 16, 2016.
The nation’s power grid has suffered 24 collapses, 15 of which are total and nine, partial, so far this year.
Unutilised generation capacity stood at 2,281MW due to gas constraint (810MW), line constraints (234MW), frequency management occasioned by the electricity generation companies’ load demand (1,287MW) and water management (150MW).
In October, the Managing Director/Chief Executive Officer, Niger Delta Power Holding Company, Mr. Chiedu Ugbo, said the power plants built under the National Integrated Power Project scheme had suffered from load rejection by the Discos.
Meanwhile, the Executive Director, Research and Advocacy of the Association of Nigerian Electricity Distributors, Mr. Sunday Oduntan, said last month that the capacity of the distribution network had increased to 6,200MW.
NLNG Boosts Cooking Gas Production to 1.5 Million Metric Tonnes Annually
Nigeria Liquefied Natural Gas Limited (NLNG) has announced a significant milestone in its operations, boosting its annual production of liquefied petroleum gas (LPG), commonly known as cooking gas, to over 1.5 million metric tonnes.
This surge in production underscores NLNG’s commitment to meeting the rising demand for clean cooking energy in Nigeria.
The entirety of NLNG’s 1.5 million tonnes production is now being sold domestically within Nigeria.
Moreover, the company has initiated a landmark shift by starting to supply LPG in naira, moving away from the traditional practice of trading in United States dollars.
This move aligns with calls from stakeholders in the oil and power sectors advocating for naira transactions, especially amidst the challenges posed by currency fluctuations.
During a panel session at the 7th Nigeria International Energy Summit in Abuja, NLNG’s General Manager of Finance, Fatima Adanan, highlighted the company’s dedication to enhancing LPG penetration across the country.
Adanan emphasized NLNG’s vision to make Nigeria a better place by promoting the use of cleaner energy sources like gas.
While NLNG’s production surge is commendable, Adanan acknowledged that Nigeria’s LPG requirements surpass the current output, necessitating imports to bridge the gap.
However, NLNG remains committed to expanding its production capacity to meet the nation’s energy needs and drive increased adoption of LPG as a cleaner cooking fuel.
CBN Raises Benchmark Interest Rate by 400 Basis Points to 22.75%
The Central Bank of Nigeria (CBN) has raised the benchmark interest rate by 400 basis points to a record 22.75%.
The decision made by the Monetary Policy Committee (MPC) comes amidst rising inflationary pressures and growing uncertainty in Africa’s largest economy.
Nigeria’s inflation rate rose to 29.90% in January 2024, the highest in over two decades while the nation’s unemployment rate quickened to 5% in the third quarter of 2023. Suggesting that the rising costs have continued to drag on both new job creation and the existing ones.
This coupled with a series of policy adjustments implemented by President Bola Ahmed Tinubu has plunged economic productivity and eroded consumer spending as citizens grapple with high fuel prices, electricity tariffs, a record-high foreign exchange rate, and insecurities.
Therefore, it is surprising that the Monetary Policy Committee (MPC) led by the CBN will further increase borrowing costs by 400 basis points at a time when job creation is paramount.
While the economy reportedly grew by 3.46% in the fourth quarter (Q4) of 2023 on the back of robust performance of the services sector, this growth is yet to crystalise as businesses and citizens have taken to the street protest against the harsh economic situation.
Economic experts have started questioning the data from the National Bureau of Statistics (NBS) given its lack of correlation between the data and economic reality.
President Tinubu Unveils Geometric Power Plant in Aba After 20-Year Wait
After two decades of anticipation, President Bola Tinubu, through his representative Vice President Kashim Shettima, inaugurated the long-awaited Geometric Power Plant in Aba, a significant milestone in the city’s quest for reliable electricity supply.
The event, which also saw the commissioning of three rehabilitated roads by Abia State Governor Alex Otti, symbolizes the culmination of years of perseverance and determination to transform Aba’s power landscape.
Addressing the audience, Vice President Shettima hailed the project as a testament to the power of visionary leadership and unwavering commitment to progress.
He said the Geometric Power Plant exemplifies the transformative impact of strategic infrastructure investments on local communities.
Governor Otti echoed similar sentiments, emphasizing the importance of the power project in positioning Aba as a hub for national and international business ventures.
He commended the efforts of Geometric Power Limited while urging them to uphold transparency and avoid exploiting consumers.
The inauguration of the Geometric Power Plant comes amidst growing concerns over Nigeria’s power infrastructure and the need for sustainable solutions to address electricity shortages.
The project, with a capacity of 188MW, holds promise for significant improvements in power supply across Abia State, benefitting nine out of seventeen local government areas.
The Managing Director of Geometric Power Limited, Ben Caven, underscored the scale of investment involved, totaling $800 million.
He highlighted the comprehensive nature of the project, which includes the installation of new power substations and a 27km natural gas pipeline, signaling a comprehensive approach to enhancing Aba’s energy infrastructure.
In conclusion, the inauguration of the Geometric Power Plant represents a transformative moment for Aba, offering renewed hope for economic growth and prosperity powered by reliable electricity supply.
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