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Nigeria records total blackout as power plants shut down

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The nation has been plunged into total darkness as the power grid recorded a total collapse on Saturday morning, according to a report. 

The system collapse led to the shutdown of all the nation’s power plants.

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An industry source, who is a top executive of one of the nation’s electricity distribution companies, told newsmen on condition of anonymity that the national grid first collapsed on Friday.

When contacted to find out the cause of the outage in parts of Lagos, he said, “It’s a general thing; it is a system collapse. All the power plants were shut down.”

Last week, the nation’s power grid suffered a total collapse, for the first time since February.

Data obtained from the Federal Ministry of Power, Works and Housing showed that the grid collapsed on June 8, bringing the number of total collapses recorded so far this year to seven.

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Business

Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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