News
Senate orders indefinite suspension of concession of Zungeru Power Plant
The Senate on Wednesday called on the National Council on Privatisation and the Bureau of Public Enterprise to suspend indefinitely the concession of the 700 megawatts power plant in Niger State, until the conclusion of an investigation by the senate committee on power.
Chairman of the Senate Committee on Power, Gabriel Suswam, had in a motion argued against concession the power plant without ensuring accountability and proper management of unsettled external loans tied to the project.
Senate President Ahmad Lawan and other senators supported the argument, citing the total failure of the privatization of the power sector in the country.
The Seante, having adopted two resolutions, mandated the Committee on Power to investigate the circumstances under which the Zungeru Hydroelectric Power Plant is being concessioned, directing the National Council on Privatization and the Bureau of Public Enterprise to suspend indefinitely the proposed concession.
-
Business6 days agoAbuja gears up for Jetour T2’s rugged-luxury experience
-
News5 days agoUK, Canada pledge closer cooperation on trade, defence and AI
-
Business1 week agoNigeria Business Outlook: Dangote IPO, markets, inflation and naira in focus this week
-
Business1 week agoDangote IPO rush crashes Bamboo login as investors flood platform
-
Business5 days agoTinubu’s economic reforms face public confidence test as cost-of-living crisis persists
-
Business5 days agoDangote: Petrol price gap fuels smuggling as Nigeria faces fresh pump price surge
-
Business3 days agoDangote Refinery IPO: Can small investors really make money from the shares?
-
Comments and Issues4 days agoWavy fuel prices and deepening cost-of-living crises in Nigeria


