As Senators Kick Against Electricity Tarrif

ABUJA- THE Federal government has said that if the Power sector must be revived to perform optimally, a total sum of 10 billion dollars was required yearly, just as it also disclosed that the country would cough out N2.9 trillion to achieve full subsidy of the sector.

Speaking yesterday in Abuja at a one day investigative hearing on halting the new electricity tarrif increase by the Nigerian Electricity Regulatory Commission (NERC) for onward implementation by the Distribution Companies (DisCos), the Minister of Power, Adebayo Adelabu said thT the 10 billion dollars was needed anually in the next ten years to revive the nation’s power sector and end the liquidity challenge.

This is as Senators have called on the Minister of Power, Adebayo Adelabu and the Nigerian Electricity Regulatory Commission, NERC, to as a matter of urgency, reverse the recent decision to increase electricity tariff for band A customers in the country.

The investigative hearing by Senator Enyinnaya Abaribe, APGA, Abia South led Senate Committee on Power is also about the N2.9tn required for electricity subsidy payment, other debts owed in the sector, and the state of metering in the country as well as the $1.3 billion owed gas companies even as it asked why Nigerians were suddenly classified under various bands.

The Minister told the Senate Committee that the major challenge in the sector was absence of liquidity, saying that the sector has been operating on a subsidised tarrif regime,given the absence of a cost reflective tarrif, just as he stressed the subsidy had not be funded over the years as huge liabilities was been owned the Generating Companies ( GenCos) and the Gas Companies.

Adelabu who noted that the inability of the government to pay outstanding N2.9 trillion subsidy was due to limited resources, hence the need to evolve measures to sustain the sector, however pleaded with the Senators to support the process of paying the debt owed operators across the value chain of generation transmission and distribution.

According to him, the increase was based on supply and that any customer that do not receive 20 hours power supply will not be made to pay the new tarrif, adding that the government was committed to ensuring sustainable reform in the sector, even as he told the Senate that eight million meters would be acquired in the next four years.

The Minister who noted that there was the urgent need to clear the outstanding debt owed GenCos and Gas companies, said, “For this sector to be revived, government need to spend nothing less than 10 billion dollars annually in the next 10 years. This is because of the Infrastructure requirement for the stability of the sector, but government can not afford that.

According to him, poor metering remains a big issue too in the industry when he told the lawmakers about how a company, Ziklag Networks Limited allegedly collected N32 billion for a contract to supply meters but has refused to do so in 20 years.

“And so we must make this sector attractive to investors and to lenders. So for us to attract investors,and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing.

“If the value is still at N66 and government is not paying subsidy ,the investors will not come. But now that we have increased tarrif for a Band, there are interest been shown by investors.”

According to Adelabu, to improve power supply, the government was investing in hydro electric power, even as he said that construction of 700 mega watt power in Zungeru had commenced, while Kashimbila Hydroelectric power plant of 40 mega watt was awaiting evacuation to improve generation.

The Minister also disclosed that there was also an on going investment of 26 small hydro power dams to boost electricity production across the country.

Officials of the Central Bank of Nigeria were also on ground to provide details on how to close the metering gap of 8 million meters.

In his submission, CBN Director of Development Financing, Sahaad Ahmad said the CBN provided N55 billion loan which was assessed by all the 11 DISCOS, pointing out that only N6b has been paid back and that CBN’s intervention has done little to stop estimated billing as many customers remain unmetered.

The only group that seems comfortable with NERC and its action appears to be the Association of distribution companies.

Every other speaker -including the Manufacturers Association of Nigeria and a former NERC Chairman, Sam Amadi who believes sufficient consultation was not done and that the increase was discriminatory and in violation of the law.

Chairman, National Electricity Regulatory Commission, NERC, Sanusi Garba solidly backed the position of the Minister, said that it was a “miracle” that the DISCOS remained afloat to supply electricity as at the 1st Quarter of 2024.

When it was time for the Senators to respond to the presentation of the Minister, they however decried the experiences of Nigerians on electricity supply over the years, despite the unbundling of the sector.

The toughest opposition came from the Senators themselves -who believe the DISCOS have done little to improve their capacity and are all out to rip off their customers to cover for their inefficiency.

On his part, the Vice Chairman of the Committee, Senator Lola Ashiru, APC, Kwara South who noted that Nigerians were paying for inefficiency of power sector operators, said that there was a lot of inefficiency across the value chain of generation, transmission and distribution, adding that poor Nigerians must be protected and that there was the need to consider a reversal of the tarrif increase .

Also speaking, Senator Simon Lalong, APC, Plateau South who told the Minister that there was no consultation before the increase, said that issues of palliative should have been discussed and provided before the tarrif increase.

On his part, Chairman of the Committee, Senator Abaribe who noted that what Nigerians wanted was a solution to the issues and ways to ensure liquidity in the sector, also decried the non of appearance of a company “ZIGLAKS” over the failed agreement to provide prepaid meters for Nigerians, just as he alleged that the company had received N32 billion in 20 years to meter Nigerian electricity consumers.

Also speaking, Senator Adamu Aliero, PDP, Kebbi Central who also said that there was no due consultation before the tariff was increased, said that the public was not at peace with the increase, saying that the increase was over 200 per cent, hence the need for a reversal of the tarrif increase.

Presentations were made by the Nigerian Electricity Regulatory Commission (NERC), Manufacturers Association of Nigeria (NAN), Association of Power Generation (Gencos), Electricity Distribution Companies (DisCos) among others.

Nigerians and other foreign students are facing a tough time in Canada over their inability to secure part time jobs to sustain themselves.

According to a report by the Voice of America, the development has led to some of the affected students living in deplorable conditions.

After Canada opened employment pathways cum immigration opportunities for foreign students, many from Nigeria and other parts of the world flocked to the North American nation.

According to the VOA, photos seen on the Canadian Internet showed crowds waiting in line for a simple cashier job opening, as foreign students lamented the unavailability of jobs that would cater to their financial needs and responsibilities.

Foreign students in Canada can only work part time and mostly in low income jobs.

“The present affordability crisis in Vancouver, along with the declining job opportunities, is becoming very stressful,” Dhvani Malik, a 400-level student of international relations at the University of British Columbia, told VOA. “International students already pay so much in fees, and the increasing rent and living costs have only added to the financial pressure.”

As of March, according to Statistics Canada, the unemployment rate for young people in Canada hit a staggering 12.6 per cent, a red flag signalling that the North American nation may be unable to cope with its rapidly rising population, most of whom were immigrants.

Aware of the situation, Prime Minister Justin Trudeau admitted that the number of temporary immigrants was “something we need to get back under control” while speaking at Dartmouth in Nova Scotia on April 2, according to Global News.

“Whether it’s temporary foreign workers or whether it’s international students in particular, that have grown at a rate far beyond what Canada has been able to absorb,” Mr Trudeau said.

However, reducing international students may not be the option for Canadian institutions, as they make a large chunk of their money from fees paid by international students.

The government may be torn between shutting its doors to temporary immigrants or allowing its institutions to continue benefiting from the high tuition cost of international students.

The Northern governors and monarchs have commended Aliko Dangote, billionaire businessman and president of the Dangote group, for the N15 billion food intervention programme launched to cushion the burden of economic hardship on Nigerians.

The governor of Nasarawa and Benue who joined others to laud Dangote’s effort said the scheme was monumental in scope and impactful.

Hyacinth Alia, governor of Benue who was speaking during the weekend at the commencement of the food distribution in the state described Dangote’s action as ”multifaceted philanthropic efforts benefiting the poor and vulnerable populace of the state”.

Alia who was represented by Abah Isaiah, his senior special assistant appreciated Aliko Dangote Foundation (ADF) for supporting the state with twenty thousand bags of 10kg rice.

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He disclosed that a committee has been constituted to distribute rice palliatives to the poor, vulnerable, and all local government areas in the state, including non-governmental and faith-based organizations.

Other members of the distribution committee are; foundation for justice, development and peace; first step action for children initiative; Benue state emergency management agency (SEMA); national orientation agency (NOA), Benue directorate; and Islamic charity.

Alia said that the food intervention would support its citizens living in IDP camps that are yet to return to their farms, commending Dangote for creating thousands of jobs through the Dangote Cement Plant in Gboko.

He added that the job creation and economic activities as precursors to peace and stability.

Alia urged host communities to support Dangote, stating they would do everything possible to ensure its success in Benue

“We would do everything possible to make sure that Dangote succeeds in Benue. I also want to urge you to support this company,” he said.

“As you can see there is a cordial relationship between the Dangote Cement Plc and the host communities. You can see how Dangote staff and host communities have been relating with each other.”

The governor urged the company to continue its charity work in the state, stating that the state is ready to provide an enabling environment for businesses to thrive.

Speaking further, Abdullahi Sule, governor of Nasarawa, said the intervention would ‘undoubtedly’ ease economic hardship being faced by many Nigerians.

Emmanuel Agbadu Akabe, deputy governor of the state who represented Sule said each LGAs of the state were allocated 2,000 bags apart from Karu and Lafia who were allocated 2,500 bags each.

He lauded Dangote, describing him as the “father of charity in Nigeria.”

Jonathan Kunde, general manager of Dangote Cement Plant Gboko, praised the peaceful and supportive communities over the years and promised them of more interventional schemes.

Zaki Atoo Mande, a monarch and representative of the host communities pledged the support of the communities towards the continuous realization of a hitch-free mining and production activities.

Muhammad Shaibu, emir of Tunga in Nasarawa, said the ADF’s National Food Intervention Programme is supporting the government to cushion the impact of economic hardship being experienced in the country.

“The Aliko Dangote Foundation is not only a gift to Nasarawa State, but to all Nigerians,” he said.

Ibrahim Galadima, district head of Tunga
described Dangote as God’s gift.

The Adamawa state also said it received its share of one million 10Kg rice distributed nationwide by the foundation, he added that thirty-five thousand beneficiaries, primarily vulnerable and disadvantaged, have received support to combat hunger due to the country’s current economic situation.

Abdullahi Bello Dan Musa, chief operating officer of Dangote sugar refinery numan, confirmed successful distribution across zones and almost completed the exercise in Taraba.

He added that the foundation has partnered with community leaders in the state to ensure the commodity is delivered to its intended beneficiaries.

Anthony Chiejina, spokesperson of the company, stated that the food initiative is part of the foundation’s ongoing commitment to aiding the Nigerian government and populace in overcoming economic challenges.

Ivase Eugene, a representative of the Aliko Dangote Foundation, and deputy general manager social performance and community relations, said the company was sharing one million bags of 10kg rice in all LGA of the country.

On March 24, Dangote launched a N15 billion food intervention programme to cushion the burden of economic hardship on Nigerians

During the launch in Kano, Dangote said the distribution of food items will run from March to early April, adding that over one million 10kg bags of rice will be distributed across the 774 LGAs of the 36 states of the federation, including the federal capital territory (FCT).

The Foundation had equally distributed thousands of bags of rice to beneficiaries and vulnerables in FCT with at least 48 charity organizations and orphanages involved in the process.

Shatta Wale opened up on his emotional turmoil following his parents’ separation in a heartfelt social media post.

He revealed how the breakup affected him deeply, leaving him with lasting emotional scars that carried into his adult years.

The singer spoke about the challenges of growing up in a separated home, emphasizing the instability and emotional upheaval it brought into his life.

He spoke of the impact the lack of a stable family unit had on his sense of security and self-identity during his formative years.

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Sharing his struggles to cope with the aftermath of his parents’ split, Shatta Wale disclosed feeling lost and vulnerable as a result, stating that the emotional wounds inflicted by the separation seeped into his relationships and overall well-being, shaping his behavior and responses to difficulties in life.

Recalling moments of feeling misunderstood and labeled disrespectful by his parents, Shatta Wale revealed his decision to leave home in pursuit of peace, facing homelessness as a consequence.

He detailed nights spent sleeping on the streets, seeking refuge in unlikely places like Nkrumah Circle and Adabraka.

“You know what my parents put me through? Because of them, I slept on the streets, I slept in front of stores. Those days, it was the prostitutes at Nkrumah Circle who were watching over me. I slept at filling stations at Circle including the one that got burnt. I slept on the streets of Adabraka and so on” Shatta said

Speaking on a coping strategy of distancing himself from stress and negativity, Shatta Wale shared how he learned to cut off toxic relationships without hesitation.

He stressed the importance of prioritizing his mental well-being by removing individuals who bring negativity into his life.

“As a result, I started running from stress, running from people who would stress me. That’s where I learned how to cut people off because I don’t want stress. I cut people off without thinking twice. I am the chief cutter. I have learned that in life, it is important to cut off anyone who wants to bring negativity into your life” he added.

The former presidential aspirant of the People’s Democratic Party (PDP) from Abia State, Chief Cosmos Ndukwe, has announced his resignation from the PDP.

Chief Ndukwe posted his resignation letter on his official Facebook page on Monday.

Chief Ndukwe was once a Councillor, Deputy Local Government Chairman, Chief of Staff to the Executive Governor of Abia state, Deputy Speaker of Abia 6th House of Assembly, and also a presidential aspirant under the PDP umbrella.

Stating his reasons for leaving the party, he wrote, “My decision to resign as a member within the party stems from personal reasons and my reflection on my current commitments and aspirations.

“After careful consideration, I have concluded that porting out of PDP is the best course of action for me now”.

However, in his letter, he did not state if he was joining another party or quitting politics.

He also thanked Abia state PDP for their support and expressed appreciation for all the role the party played in his political career.

Dufil Prima Foods Ltd has announced reduction in price of indomie.

The producer of Indomie Instant Noodles explained that its product costs have decreased forcing a reduction in the price of indomie.

Mr. Temitope Ashiwaju, the company’s Group Corporate Communications and Event Manager, confirmed this in an interview with the Nigerian News Agency (NAN) on Saturday in Lagos.

Ashiwaju underlined the necessity of clarifying any misconception about the product’s recent price modification. He also said that economic realities had an influence on the firm, which had previously resulted in increasing costs for Indomie noodles.

He said: “For a listening company such as ours, we felt at some point in time, against our operational cost to adjust when things started to improve.

“We are not here to rip people’s out. Of course, if you starve people and make the products out of reach, it will also affect us.

“Reduction in prices came when the operational cost started to go down. “We don’t have a choice than to adjust to realities of times and other indices as they improve because serving people are at the centre of our core value.

“The moment we realised that things started to stabilise, we all hope and pray the economy gets better, as a responsible company, we felt it was time to do a further price reduction.”

Ashiwaju highlighted that the company has been operating in Nigeria for over two decades, with factories and installations across the country.

Burkina Faso has suspended a swathe of international news organisations, some indefinitely, for airing accusations of an army massacre of civilians, with the communications regulator CSC adding more outlets over the weekend.

Among those named are French newspaper Le Monde, British publication The Guardian, German broadcaster Deutsche Welle and French broadcaster TV5 Monde.

They were suspended for reporting on a Human Rights Watch (HRW) statement accusing soldiers of killing at least 223 people in revenge attacks on two villages on February 25.

Other news media named by the CSC in an order dated Saturday, were French regional newspaper Ouest-France, African website APAnews and the Swiss-based Agence Ecofin.

Already on Thursday, the CSC announced it had directed internet service providers to suspend access to the BBC, VOA and HRW from Burkinabe territory for two weeks.

The military rulers of Burkina Faso have dismissed as “baseless” the HRW report on the massacre, which found 56 children were among the dead.

“The killings at Nodin and Soro led to the opening of a legal inquiry,” communications minister Rimtalba Jean Emmanuel Ouedraogo said in a statement late Saturday.

He expressed his surprise that “while this inquiry is underway to establish the facts and identify the authors, HRW has been able, with boundless imagination, to identify ‘the guilty’ and pronounce its verdict”.

HRW described the massacre as “among the worst army abuse in Burkina Faso since 2015”.

“These mass killings… appear to be part of a widespread military campaign against civilians accused of collaborating with Islamist armed groups, and may amount to crimes against humanity,” the New York-based group said on Thursday.

– ‘Grave and abusive decisions’ –

Reporters Without Borders (RSF) condemned what it called “grave and abusive decisions” from the junta.

In an email sent to AFP, the defender of press freedom said it “reminds the authorities that the publication of general news on the country’s security situation must not be a pretext for the worst attacks recorded against the media in recent months”.

According to the Burkina statement, “The media campaign orchestrated around these accusations fully shows the unavowed intention … to discredit our fighting forces.”

“All the allegations of violations and abuses of human rights reported in the framework of the fight against terrorism are systematically subject to investigations” followed by the government and the UN high commissioner for human rights.

The latest suspensions against media come after a series of similar moves, both temporary and indefinite, that have been taken since Captain Ibrahim Traore came to power in September 2022.

Under Traore, the junta has distanced Burkina Faso from France, which ruled the country until 1960, and has already targeted a number of French media outlets.

The West African nation has been battered by a jihadist insurgency that swept in from neighbouring Mali in 2015.

Thousands of civilians, troops and police have been killed, two million people have fled their homes, and anger within the military at the mounting toll sparked two coups in 2022.

AFP

The United Kingdom (UK) government has announced a crackdown on criminals such as terrorists, drug dealers, and fraudsters who use cryptocurrency to raise and hide money.

According to the UK government, over £1 billion illicit transactions occur via cryptocurrency annually.

The UK Home Office made this known in a recent post on its X official page declaring that the law enforcement agencies have been given the greenlight to go after those involved.

Vanguard reports that the UK has embarked on diverse policies bordering on immigration, economic and financial matters.

“Over £1 billion in illegal crypto transactions take place in the UK each year,” the UK Home Office said. “Drug dealers, fraudsters and terrorists use crypto to hide and raise money.

“We’re giving law enforcement new powers to seize, freeze and destroy crypto assets,” it added.

This clampdown on illegal cryptocurrency operators in the UK is coming weeks after major stakeholders are found culpable of criminal activities.

In late March, FTX founder Sam Bankman-Fried was sentenced to 25 years in prison in the United States, for the securities fraud conspiracy that doomed his cryptocurrency exchange and a related hedge fund, Alameda Research.

Bankman-Fried also was ordered to pay $11 billion in forfeiture at the sentencing in Manhattan federal court.

In another development, five days ago, the US prosecutors wanted Changpeng Zhao, the founder and former chief executive of Binance, the world’s largest cryptocurrency exchange, to serve three years in prison after he pleaded guilty to violating laws against money laundering.

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In February, the Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, said that over $26 billion in illicit flows has passed through the crypto platform Binance in the last year.

The revelation led to the arrest and detention of two Binance executives by the Office of the National Security Adviser (ONSA).

The two officials detained were Tigran Gambaryan, a US citizen and Binance’s head of financial crime compliance, and Nadeem Anjarwalla, a British-Kenyan who is a regional manager for Africa.

According to the ONSA, the duo were charged with four counts of tax evasion and with laundering over $35 million.

Meanwhile, Anjarwalla escaped from the custody of the security operatives, but was arrested by Kenya authorities, days later.