Business
Nigeria To Spend $350bn On Power Generation In 15 Yrs
As the Federal Gov
ernment vets the procurement of one million electricity metres as part of its equity distribution scheme, the Minister of Power, Prof Chinedu Nebo has revealed that a total sum of $350 billion would be required to raise power generation to a minimum of 20,000 megawatts (MW) over a span of 15 years.
Addressing newsmen at an opendoor meeting in Abuja recently the minister said that subject to the volatility of the local currency, about $1.5 million would be needed to produce one megawatts of gas power plant.
The further stated that although the earlier target of 6000mw to be delivered by December was not achieved.
According to him, the chances of acing 12,500mw more than doubled last year’s estimate within a two-year timeline was feasible.
Nebo said the new meters will be circulated to end-customers by the electricity distributions companies (DISCOS). Explaining why fitful power outages and proper payment leakages remain a major challenge for the ministry to overcome inspite of the huge amount of Sunken funds, he cited causes of electricity theft as a prime reason.
He added that the private sector inherited a customer base that showed that more than 50 per cent do not have meters.
“Nigeria has the highest per capita electricity theft in the world.
“We have thieves who steal electricity, they maybe very well dressed as responsible citizens but they are thieves because they are not paying their electricity bills”, he said.
He explained that president Goodluck Jonathan approved the funding to give over one million meters to Nigerians to reduce the gap and they allow the Discos to fix the time that all Nigerians will get meters.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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