By Favour Ifeoluwa & Akinola Ajibade The Federal Government yesterday( Monday) announced the transfer of Regulatory Oversight of the Electricity Market in Imo State to the state electricity regulatory commission, otherwise known as (ISERC). In a statement issued by the Nigerian Electricity Regulatory Common( NERC), the development is in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), reiterating that all transfers envisaged by this order shall be completed by 31 December 2024. According to the Commission,the transfer Order’s provisions include: “Direct Enugu Electricity Distribution Company (EEDC) to incorporate a subsidiary (EEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Imo State from EEDC, and that EEDC shall complete the incorporation of EEDC SubCo within 60 days from 27th June 2024. The subcompany shall apply for and obtain licence for the in
Adesina Favour Ajibade Nigeria, Ghana, Libya, Sierra Leone, Egypt and the remaining fourty nine countries in Africa would need an average of $200billion investments in grid electricity in five years time, the Group Managing Director, Sahara Power Group, Mr Kola Adesina, has said. He said all the countries in the continent, would averagely invest $40 billion yearly on grid investments in the next five years. Overall, this amount to $200billion in the period stated above. According to him, the investments would the continent to deliver stable electricity to their citizens for socio-economic growth. Delivering a keynote address on “The Future of Power in Africa” at the Lagos Business School recently, Adesina said that the projections indicate an increase in energy demand across Africa in the coming years. He noted that in 2040, this demand could be around 30 per cent higher than what was obtainable currently, adding that it was vital for all stakeholders to work towards s