Business

TCN refutes Kaduna Electric’s claim on Jos power supply

Published

3 weeks ago

August 27, 2026

The Transmission Company of Nigeria has refuted claims by Kaduna Electric that a fault on the 330kV Jos transmission line contributed to reduced power supply across its franchise area.

In a statement on Thursday signed by the management of TCN, the company said all 330kV transmission lines connected to Jos were operational and transmitting bulk electricity.

TCN described Kaduna Electric’s claim as “false and a deliberate misrepresentation of facts,” saying there had been no disruption of bulk power transmission on any 330kV line supplying Jos since the restoration of the Jos–Lafia 330kV Line 2 circuit breaker.

The company explained that the circuit breaker was opened on August 23 for voltage control as part of a routine operation to maintain grid stability.

“For the avoidance of doubt, all 330kV transmission lines connected to Jos are in service and transmitting bulk power,” the statement said.

“TCN recorded a lone incident on 23rd August 2026 at 03:30hrs, when the Jos–Lafia 330kV Line 2 circuit breaker was opened for voltage control. This was a routine operational action to maintain grid stability.”

According to the transmission company, the line was restored at 11:59 pm on August 24 and had remained in service since then.

“There has been no outage or disruption of bulk electricity transmission on any 330kV line supplying Jos attributable to TCN since that restoration,” it added.

The development followed an announcement by Kaduna Electric on Wednesday attributing reduced power supply across its franchise area to lower load allocation.

The electricity distribution company had said the reduction was mainly due to an outage of one generating unit at the Shiroro Generating Station and a fault on the 330kV Jos transmission line.

Kaduna Electric said the fault had resulted in Shiroro supplying Jos and its surrounding areas instead.

The company also said that, based on the National Control Centre Daily Load Allocation for August 25, it received 104 megawatts, comprising 54MW from the Mando 330kV Transmission Station and 50MW from the Birnin-Kebbi axis.

It said it was working with TCN on the equitable distribution of available power and monitoring efforts to restore supply.

However, TCN urged Kaduna Electric and other stakeholders to verify information with the transmission company before making public statements on transmission-related issues.

“We urge Kaduna Electric and other stakeholders to verify facts with TCN before issuing statements that misinform the public and create unnecessary anxiety,” it said.

TCN also advised electricity customers in Jos and its environs to disregard what it described as the misleading information, assuring that it remained committed to ensuring stable and reliable bulk power transmission to distribution companies nationwide.

Source: punchng.com

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Post Views: 93

Business

ARE NIGERIANS BUILDING CHINA’S ECONOMY WHILE NEGLECTING THEIR OWN?

Published

12 hours ago

September 17, 2026

Oluwagbenga Olaoye

While other nations are busy producing, manufacturing and exporting, Nigeria must ask itself a difficult question: Are we building our own economy, or simply creating a bigger market for other countries?

Nigeria has a huge population, abundant natural resources and a massive consumer market. Yet the country continues to depend heavily on imported finished products—from electronics and clothing to machinery, household goods and other consumer items.

The issue is not simply about Chinese businesses or businesses from any other foreign country operating in Nigeria. Foreign investment can bring capital, technology, jobs and expertise.

The bigger issue is whether **Nigerian businesses are being given the opportunity and support to manufacture competitively at home.

Instead of remaining primarily a consumer of finished products, Nigeria needs to strengthen its manufacturing sector and move further up the value chain.

Nigeria needs to produce, not just consume.

A stronger manufacturing economy could help Nigeria:

* Create more jobs for Nigerians
* Add value to locally available raw materials
* Develop industrial skills and technology
* Reduce excessive dependence on imported finished goods
* Build competitive Nigerian companies
* Increase the country’s ability to export

The goal should not be to drive legitimate foreign businesses out of Nigeria. The goal should be to build an economy where **Nigerian manufacturers can compete, grow and eventually take Nigerian-made products to markets around the world.

The question Nigerians should be asking is simple:

**Why should Nigeria remain one of the world’s biggest markets for finished products when we have the potential to manufacture many of them ourselves?

🇳🇬 **Nigeria must move from being predominantly a consumer nation to becoming a stronger producer, manufacturer and exporter.

What do you think?

Which products should Nigeria prioritize for local manufacturing instead of relying heavily on imports?

Share your thoughts in the comments.

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Post Views: 22

Business

ICRC defends toll pricing on highways

Published

1 day ago

September 17, 2026

Newsbreak365_Admin

The Infrastructure Concession Regulatory Commission has defended the toll pricing structure under the Highway Development and Management Initiative, saying charges are evaluated against the quality and benefits of the upgraded roads.

In a statement made available to PUNCH Online on Thursday, the Director-General, Dr. Jobson Ewalefoh, cited the 227-kilometre Akwanga–Makurdi road corridor as an example.

He said the route has four toll gates, and motorists pay as they travel along it.

He argued that toll payments should be viewed against the previous costs imposed by the poor condition of the road, including lost man-hours, vehicle damage and accident risks.

Feedback from road users, he said, shows many motorists are willing to pay tolls where they see clear improvements in road quality.

Some drivers have expressed support for similar arrangements on other major corridors if the roads are upgraded to the same standard.

“That, to me, is the beauty of a well-structured PPP,” Ewalefoh said.

He explained that negotiators carefully consider toll pricing to keep charges fair. A portion of the revenue is set aside specifically for road maintenance. Under the concession agreements, the government does not bear additional maintenance costs for the duration of the contract.

The government must repair potholes within 48 hours, and it funds major routine repairs from the dedicated toll revenue.

Source: punchng.com

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Post Views: 39

Business

Nigeria raises N748.6bn from FGN bonds as rates ease

Published

1 day ago

September 17, 2026

Newsbreak365_Admin

The Federal Government raised N748.64bn from its September 2026 domestic bond auction, with investors showing strong demand for both the newly issued 10-year instrument and the reopened 15-year bond.

The Debt Management Office allotted N288.83bn from the N400bn offered on the 10-year FGN bond at a marginal rate of 16.79 per cent.

Investors submitted bids worth N546.90bn for the 10-year paper, pushing demand 36.7 per cent above the amount offered.

The stronger demand for the new 10-year instrument came alongside a moderation in the yield compared with recent borrowing levels, suggesting some improvement in investor appetite for longer-dated government securities.

For the 15-year FGN bond, which was offered as a N600bn reopening, investors submitted N947.83bn in bids.

The DMO allotted N460.01bn from the reopening at a marginal rate of 16.85 per cent, significantly below the 17.79 per cent rate recorded at the previous auction.

Overall, investors sought N1.49tn across the two securities, representing about 49.5 per cent more than the N1tn offered by the DMO.

However, the debt office allotted N748.64bn, leaving about N746.59bn of the bids unaccepted.

The auction results indicate that while demand for Nigerian government securities remained strong, the DMO was selective in determining the volume of debt to issue.

The decline in the marginal rate on the 15-year bond also points to a gradual easing in investors’ required returns on longer-term government debt, although borrowing costs remain elevated.

The latest auction comes as the Federal Government continues to rely heavily on the domestic debt market to finance its fiscal requirements and manage its debt portfolio.

The outcome of the auction will also be closely watched by investors in the secondary bond market, where movements in government bond yields influence pricing across fixed-income assets, including treasury bills, corporate bonds and other debt instruments.

Source: punchng.com

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Post Views: 56