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Modupeorelouwa, daughter of Lagos State Governor, Babajide Sanwo-Olu has tied the knot with her lover, Oladele.
The white wedding took place a week after their traditional wedding.
The union was solemnised at the Cathedral Church of Christ in Lagos by the Anglican Bishop of Lagos, Rt. Revd. Ifedola Okupevi.
The wedding was attended by dignitaries, including Nigeria’s First Lady, Senator Remi Tinubu; Governor Godwin Obaseki of Edo State; Senator Hope Uzodimma of Imo State; Dr. Alex Otti of Abia State; Governor Caleb Mutfwang of Plateau State; Governor Chukwuma Soludo of Anambra State; and former Lagos State Governor, Akinwunmi Ambode, among others.
Peter Obi, presidential candidate of the Labour Party in the 2023 elections, says Nigeria needs to invest more aggressively in the health sector.
In a statement to commemorate the 2024 World Health Day, Obi said health remains critical to human development.
He noted that as one of the critical measures of the human development index, health contributes immeasurably to the development of the humans and the progress of a nation.
He said Nigeria’s “poor investment” in the health sector has continued to manifest in many ways.
“Our obvious neglect of our health sector, especially the primary health sector has continued to result in so many unpleasant outcomes for the nation,” he said.
“With Nigeria ranking 14th out of the 18 African countries with poor health systems and also ranking 157th out of the 167 countries measured on health systems, we need to invest more aggressively in the health sector.
“We are today, among the countries with the highest infant mortality rates. The current life expectancy in Nigeria is 56 years, obviously among the lowest in the world.
“Healthcare in Nigeria is increasingly becoming out of the reach of most Nigerians due to its high cost.
“Our budget of N1.3 trillion for the health sector, in a country of about 218 million people, is still not enough to make a serious impact in the sector and still falls below the 15 percent commitment specified in the 2001 Abuja Declaration.
“With the continual decline in our health sector, we need to make more aggressive investments that will improve the lives of the people.
“Aside the negative impacts on the citizens of our lack of investment in the health sector, the attendant capital flight arising from health tourism remains worrisome.
“It is reported that Nigerians spend over $1.5bn on Medical Tourism Annually. Such a volume of funds, if retained in our economy would have impacted positively on the nation and helped us to save the much-needed foreign exchange.”
He added that the World Health Day presents another opportunity for leaders to reflect on their vision and prioritise investment in critical areas of human development for the ultimate good and development of the nation.
“The resources wasted on frivolities and unnecessary expenditure should now be invested in health, education and pulling people out of poverty. Our vision in New Nigeria is to build a healthy and productive nation, and it is possible,” he added.
[TheCable]
- Modalities to Deploy Security Boats is priority - Mobereola
The Spanish Ambassador to Nigeria, His Excellency, Ambassador Juan Ignacio Sell has declared that the Spanish Government is desirous to deepen cooperation with Nigeria through further collaboration with the Nigerian Maritime Administration and Safety Agency, NIMASA. Ambassador Juan made this declaration while inspecting the two new Bulletproof Security boats, built for NIMASA by a Spanish Company, Aresa. This is just as the Director General of NIMASA Dr. Dayo Mobereola says deploying the vessels is priority.
Ambassador Juan said, “This is one more milestone in the cooperation between Spain and Nigeria for maritime security. The Spanish government sees Nigeria as prime in attaining security in the Gulf of Guinea. We also have a naval ship present in the Gulf of Guinea to enhance security. The message from our President back home is for the Embassy to seek more partnership with Nigeria in the Maritime Sector. The creation of the Marine and Blue Economy Ministry by President Bola Tinubu GCFR is a sign that this administration is committed to harnessing the Ocean potentials and Spain is ready to support Nigeria all the way. This is why I came from Abuja to see the DG”, he said.
On his part, the NIMASA DG noted that Management under his leadership will fast track the deployment of the patrol Boats as soon as possible. He also welcomed the partnership with Spain noting that security in the maritime domain cannot be done in silos.
“Maritime security cannot be done in silos by any country. Collaboration plays a major role in achieving safety and security in the maritime domain. We appreciate the gesture from the Spanish Government and we will explore areas of collaboration particularly in terms of both human and infrastructural development. We will work out the logistics so that these vessels can be deployed immediately. I am confident that they will be instrumental not just to enhance security in Nigerian waters, but also shore up revenue accruable to the Federal Government as Port calls by vessels will increase, and Fishing in Nigerian Coastal waters will become a major industry in Nigeria.
The 8 passenger, 13.2 meters long Security Boats with a fuel capacity of 3000 liters is fully air-conditioned with a range of 500 Nautical Miles. They are powered with two 2,300 Horsepower outboard engines with a maximum speed of 45 Knots and 25 Knots at cruising speed. NIMASA now has seven fast intervention bulletproof Aresa boats to be deployed soon.
Osagie Edward, FNIPR
Assistant Director/Head, Public Relations
NIMASA
April 7, 2024
Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dayo Mobereola (right) and the Spanish Ambassador to Nigeria, His Excellency, Ambassador Juan Ignacio Sell shortly after an inspection of two new Aresa enforcement boats acquired by NIMASA in Lagos.
Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dayo Mobereola (right) presenting a souvenir to the Spanish Ambassador to Nigeria; His Excellency, Ambassador Juan Ignacio Sell during a visit by the Ambassador to NIMASA headquarters in Lagos.
R-L: Executive Director Operations, Nigerian Maritime Administration and Safety Agency, NIMASA, Engr. Fatai Taiye Adeyemi; Spanish Ambassador to Nigeria, His Excellency, Ambassador Juan Ignacio Sell; Director General, NIMASA, Dr. Dayo Mobereola; Executive Director, Maritime Labour and Cabotage Services, NIMASA, Mr. Jibril Abba and Executive Director, Finance & Administration, NIMASA, Mr. Chudi Offodile. After an inspection of two new Aresa enforcement boats acquired by NIMASA in Lagos.
No fewer than 5043 secondary school learners in Ogun State Students have been trained on how to use the abacus counting machine skills to solve addition and subtraction Mathematical problems, so as to enable them to break the world record.
The programme organised by International Academy For The Gifted (IAGIFTED), in collaboration with Ogun State Government, held at Dipo Dina International Stadium, Ijebu-Ode, Ogun State.
Giving an insight to the programme, the wife of the Ogun State Governor, Mrs. Bamidele Abiodun said it is imperative to encourage learners to adopt usage of abacus skills for mathematical calculations, noting that it would not only enable them compete favourably with their mates in other nation of the world but also take our educational system to a higher pedestal.
Mrs. Bamidele noted that Science, Technology, Engineering, Art and Mathematics (STEAM) education is only essential tool for personal and professional development for driving innovation and economic goals, hence the reason for Prince Dapo Abiodun government's commitment towards ensuring that every child have access to effective STEAM teaching.
The First Lady of Ogun State described education as the key to unlocking the potentials of the youths and empowering them to become agent of change in the society.
Mrs. Abiodun said "I extend my heartfelt thanks to the organiser of this very special programme, Prof. Adewale Solarin, which was to commemorate his 70th Birthday Celebration for the vision in championing STEAM education and for putting Ogun State on the world field. I am pledging my full support to this great vision of yours."
In his speech, the Commissioner for Education, Science & Technology, Prof. Abayomi Arigbabu submitted that Prof. Solarin was acadmia par excellence, due to his academic prowess and expertise, can be referred to as Grand Father in academics, because he has nurtured and produce Professors, who have also mentor other Professors and PhD holders, appreciating him for his greatness, unrelenting efforts and a shared vision.
Speaking, The Vice Chancellor, Tai Solarin University of Education, Prof. Oluwole Banjo affirmed that the feat Prof. Solarin have recorded in his chosen field, and his contribution to National Development will forever remain indelible, praying God to continue to shower his blessings on him and grant him the grace to enjoy the fruits of his labour in good health and sound mind.
Responding, the visioneer of the programme and Chairman IAGIFTED, Professor Solarin explained that the selected over 5000 learners were gathered to have Largest Mathematics Lesson Class, as well as teaching them on the simultaneous usage of Asian Abacus with both hands, in order to develop both sides of their brain in solving Mathematical problems, saying the event was organised to mark his 70th birthday and retirement from active academic service.
The highlight of the programme includes competition on usage of abacus, where Master Isaac Rilwan and Miss Damaris Oyediran won the male and female categories respectively and were presented with trophies as King and Queen of STEAM.
Ahead of the 2027 election, the 2023 presidential candidate of the New Nigeria Peoples Party (NNPP), Senator Rabi’u Kwakwanso, has said his party is the best alternative to the Peoples Democratic Party (PDP) and the All Progressives Congress (APC).
The former Governor of Kano State described the ruling APC as a failing party and the PDP as a failed party, adding that both parties do not have the competence to lead the country.
He likened the ruling APC and the PDP to birds of a feather, suggesting that both parties have inflicted immense suffering on Nigerians with their unpopular and inhumane policies.
He stated these during the party’s national convention, which took place at the A-Class Event Centre in Maitama, Abuja, on Saturday.
Kwankwaso guaranteed that the NNPP would introduce a revitalising change for citizens and the nation as a whole if it is given the chance to lead the nation.
The former Defence Minister asserted that Nigeria possesses sufficient resources and manpower to address insecurity.
He said, “We are all aware that the PDP has completely failed. Many of us decided in 2014, and 2015 to bring in some positive changes. Unfortunately, we have seen what happened from 2015 to date. This is the same APC government.
“Therefore, as far as we are concerned, we have a failing party that is the APC and we believe that this country requires an alternative to the APC and of course, the PDP and the only party, in my opinion, and based on facts, because the NNPP today is the fastest growing party in this country.
“I also believe even beyond this country, that is the only hope as we stand today. In many parts of this country, especially in northern Nigeria, particularly in my part of the north, so many people have been chased out of their homes, and so many have been killed. Some are in the bushes now in the forest under the care of bandits and other criminals. And it looks like many people don’t care.
“It is even becoming a normal thing to go and pick up people in their homes, on the roads, in the markets and so on. I believe it is only in this country that this sort of nonsense is happening. And it is the responsibility of every government, responsible government to ensure the peace of its people.
“I believe, as a former minister of defence in this country, as a former chief security officer of Kano State for eight years, and so on, I believe that we have adequate resources, we have enough manpower, we have all that it takes to protect Nigerians to peace in this country today. So it’s an opportunity for me to ensure that we bring on board a united, stronger, more peaceful, more prosperous Nigeria for all of us.”
The leadership of the Nigeria Labour Congress (NLC) has vowed not to give recognition or legitimacy to the leadership of the national chairman of the Labour Party (LP), Julius Abure.
NLC vowed not to rest until it unseat Abure as national chairman of the party.
The Congress also stated that the LP presidential candidate in the 2023 election, Peter Obi, is free to leave the party if he chooses to.
The NLC spokesman, Benson Upah stated this on Sunday during an interview with Punch.
According to him, “Our position on this matter is clear and has not changed. Abure remains unknown to us. It is not a question of removal. As far as we know, he does not exist.”
Speaking further, Upah said the issue of whether Obi should stay or leave the party should not be debated, saying the former governor was free to determine his destiny.
According to him, the NLC cannot stand in the way of the presidential candidate should he decide to defect to another political platform.
While describing him as an asset, the spokesman reiterated that the congress would not stand in his way if he chose to leave.
“The right of choice is available to Mr Obi. If he chooses to leave the party, that is his preference. We can’t sit in judgment over him on that. But if he chooses to remain, of course, Peter Obi is an asset any day. I rest my case on that,” he added.
President Bola Tinubu extends his congratulations to Alhaji Alliyu Babatunde Oduwole, an Ijebu prince, as he marks his 80th birthday.
Alhaji Oduwole, an active citizen and believer in Nigeria's potential for greatness, has embarked on many lofty advocacies to promote public accountability, peace, and dialogue.
In 2015, he created a plethora of fora to discuss 'Project Nigeria'; held citizen-engagement meetings, and submitted a memorandum on constitutional amendments to the National Assembly in 2022.
In 2018, he founded the United Muslim Community Care Foundation to feed indigent Nigerians of all religious persuasions. The foundation has been feeding many families during this Ramadan and providing them with some stipends.
As Alhaji Oduwole marks this milestone birthday, the President wishes him good health and renewed vigour in his service to humanity.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
April 7, 2024
Former Governor Nasir El–Rufai of Kaduna State has come under intense pressure to jettison the idea of dumping the ruling All Progressives Congress (APC), to form a mega political party with some like minds. That was even as an ambassadorial appointment is being dangled before him as an alternative. It would be recalled that the El – Rufai, who played a major role in the formation of the APC in 2014, recently paid a visit to the secretariat of the Social Democratic Party (SDP), in reciprocation to the earlier visit of the National Chairman of the SDP, Shehu Musa Gabam, in company with National Security Adviser, Nuhu Ribadu and a chieftain of the APC, Kashim Ibrahim – Imam. The trio went to break their fast in El–Rufai’s Abuja home. However, some people are prevailing on him not to leave the party, which he helped in its formation and winning the elections in 2015, a credible source conversant with the issue confided in Sunday Telegraph. The Source said: “Some persons are trying to broker some rapprochement, telling him not to leave the party as a founding member of the APC, who played a major role; he should not jettison the party.
“However, the trouble at home is further putting pressure on him to find a new platform to become more relevant because the governor in his home state in his revelation has further damaged him in some way, his reputation as an astute manager of resources and men. “But some of his men are saying that the money was borrowed for some developmental purposes and therefore, what the loan was used for is very visible everywhere; that when you want to kick-start an infrastructural revolution, you need extra finances. That is making him more estranged from the party.” Furthermore, our source said that it was not without reason.
“He has two reasons why he is looking for another party,” our source adds: “Number one: He believes that he was deliberately schemed out of being minister of the federal republic by some entrenched interests and he believes that he was not duly rewarded for the key and critical role he played in the emergence of candidate Bola Ahmed Tinubu as the candidate of the APC and also his emergence as the president of the Federal Republic of Nigeria. “He believes that he has not been well treated by the leadership of the party and by the government. His critical role has not been acknowledged and rewarded like others, who did not play half of the role he played. “So, it is obvious that he is very angry with the system and he believes that what he did in 2014, and 2015, leading to the formation of the APC can be done again. However, some persons from within the party are also said to be reaching out to him that he should not be angry.
“They are dangling before him the ambassadorial compensation. Whether that will materialize is another thing. “He also needs to be cleared in one way or the other. He is reluctant to take that leap because he believes that it may lead to another humiliation and of course, he also believes that some of the things happening in his home state are orchestrated to haunt him. “That is their response to his move in the last few days by people who believe that they will pay you back, you want to form a mega party. He believes that what is happening in his home state is being orchestrated by the same people, who denied him the ministerial slot.
The Abuja Chamber of Commerce and Industry (ACCI) says the recent hike in electricity tariffs could impact negatively on the ease of doing business in Nigeria.
Emeka Obegolu, ACCI’s president, spoke in an interview with NAN on Saturday in Abuja.
Obegolu acknowledged the various challenges already faced by entrepreneurs and investors in the country.
He said small and medium enterprises (SMEs), which are crucial to the country’s economy, would be greatly affected by the hike in tariff.
“The ease of doing business is a critical factor for fostering economic growth, attracting investments, and creating job opportunities,” he said.
“Regrettably, the increase in electricity tariffs can hinder these efforts by imposing additional financial burdens on businesses, especially SMEs, which are the backbone of our economy.”
According to Obegolu, any disruptions or cost increases associated with electricity supply could lead to higher operational expenses.
He said it would hinder businesses’ ability to invest in innovation and expansion and impede their competitiveness in both domestic and international markets.
Obegolu also expressed concern that the tariff hike, combined with other economic challenges such as the removal of fuel subsidy and foreign exchange unification, could further compound difficulties faced by businesses.
“Many enterprises are already struggling with reduced demand, supply chain disruptions, and financial constraints. The burden of higher electricity tariffs exacerbates their challenges and threatens their long-term viability,” he said.
“As advocates for the business community, we urge relevant authorities to reconsider this decision and explore alternative solutions that prioritise the needs of businesses and support ease of doing business.
“It is vital to strike a balance between ensuring a sustainable energy sector and mitigating the adverse effects of tariff hikes on businesses, particularly during these trying times.”
The ACCI president called for constructive dialogue with stakeholders to find collaborative solutions that addressed concerns from both energy providers and businesses.
“Through fostering open communication, promoting transparency, and adopting policies that facilitate business growth and competitiveness, we can create an environment conducive to sustainable economic development and prosperity for all,” he said.
Obegolu said ACCI stands ready to collaborate with stakeholders to address challenges posed by the tariff.
The Nigerian Electricity Regulatory Commission (NERC) has directed all electricity distribution companies (DisCos) to refund customers wrongly billed with the new rate.
Abba Terab, NERC deputy general manager in charge of market competition and rates, disclosed this in a statement on Saturday.
According to NERC, customers should be refunded through energy tokens no later than April 11, and file evidence of compliance with the commission by April 12.
On April 3, NERC approved an increase in electricity tariff for customers under the Band A classification.
The commission said customers under the classification, who receive 20 hours of electricity supply daily, will pay N225 per kilowatt (kW), starting from April 3 — up from N66.
The NERC also directed all electricity distribution companies to provide as much clarity as possible to all affected customers.
“All DisCos shall ensure that only the newly approved Band A feeders listed in their April 2024 supplementary orders are maintained as band A for the purpose of vending to prepaid customers and billing for post paid customers on their networks,” Terab said.
“All DisCos are required to immediately post on their websites the schedule of approved Band A feeders that have been affected by the rate review.
“All DisCos shall set up a portal by 10th April 2024 on their website that allows all customers to check their current Bands by entering their meter or account numbers.
“All customers wrongly billed at the new rate should be refunded through energy tokens no later than Thursday 11th April 2024, and file evidence of compliance with the Commission by 12th April 2024.
“The Commission shall monitor compliance with the requirements listed above and shall continue to provide support to all stakeholders as required.”
On Aprile 5, NERC fined Abuja Electricity Distribution Plc (AEDC) N200 million for overcharging customers.
NERC said AEDC must reimburse affected customers by April 11.
More...
The leadership of the Nigeria Labour Congress has vowed not to rest until it unseat Julius Abure as national chairman of the Labour Party.
Disclosing this in an interview with Sunday PUNCH, the NLC spokesman, Benson Upah, said that despite the ‘illegal’ national convention that returned Abure to office, the union would never confer legitimacy or give recognition to his leadership.
He said, “Our position on this matter is clear and has not changed. Abure remains unknown to us. It is not a question of removal. As far as we know, he does not exist.”
The development is coming at a time when a group of retired workers under the aegis of Lagos Assembly of Labour Veterans and Trade Unionists also called for the resignation of the embattled national chairman of the party and the NLC President, Joe Ajaero, over their contentious leadership struggle.
The party’s presidential candidate, Peter Obi, also seems to be at loggerheads with the leadership of the LP over the manner it conducted the convention in Nnewi, Anambra State, despite his plea for wider consultation.
The former Anambra governor had expressed his frustrations at an X (formerly Twitter) Space session organised by Parallel Facts last Friday night.
While explaining his absence at the national convention that got Julius Abure re-elected as the party’s national chairman, Obi told his audience that he didn’t attend the event because the party’s leadership failed to heed his appeal for wider consultation with relevant stakeholders before the exercise.
His speech has since set tongues wagging and further fuelled earlier speculations that the LP presidential candidate may have started shopping for a new platform despite being guaranteed the 2027 ticket at the convention.
But Upah said the issue of whether Obi should stay or leave the party should not be debated, saying the former governor was free to determine his destiny.
According to him, the NLC cannot stand in the way of the presidential candidate should he decide to defect to another political platform.
While describing him as an asset, the spokesman reiterated that the congress would not stand in his way if he chose to leave.
“The right of choice is available to Mr Obi. If he chooses to leave the party, that is his preference. We can’t sit in judgment over him on that. But if he chooses to remain, of course, Peter Obi is an asset any day. I rest my case on that,” he added.
- Lagos government plans to demolish a section of the renowned Landmark Beach Resort to make room for the construction of the 700-kilometer Lagos-Calabar road project.
- Paul Onwuanibe told CNN that he received a demolition notice in late March, instructing him to vacate his multimillion-dollar beach resort within seven days.
- Valued at over $200 million, the Landmark site is home to over 80 businesses and provides more than 4,000 direct jobs. It also generates over 2 billion naira ($1.5 million) in annual tax revenue.
Nigerian Business mogul, Paul Onwuanibe told CNN that he received a demolition notice in late March, instructing him to vacate his multimillion-dollar beach resort within seven days before it would be demolished.
Onwuanibe had obtained the land in 2007 before the plans for the coastal highway were drawn up and felt a mix of emotions after receiving the demolition order, which also urged him to file compensation claims.
As per the notice, sections of the property marked for demolition include the Beach Resort, Kids and Bay Arena, Members Area, and Lagos Beach Club, as they encroach within the Right of Way of the proposed road project by 50 meters.
Paul Onwuanibe, CEO of the group
Landmark site
Valued at over $200 million, according to Onwuanibe, the Landmark site is home to over 80 businesses and provides more than 4,000 direct jobs. It also generates over 2 billion naira ($1.5 million) in annual tax revenue.
Onwuanibe said foreign and local investors in Landmark Group were now threatening to pull out if the beach resort, which includes a mini golf course, a beach soccer field as well as a volleyball and basketball court, is removed.
“Without the beach, the entire ecosystem is at risk and is severely damaged,” he said, adding: “I have had widespread panic calls from my international and local investors as well as local debt providers threatening to pull the plug as they think this is material to our survival as a business.”
Landmark beach
The new coastal road
Approval for the new coastal road was given on February 27 by the federal authorities, according to presidential aide Temitope Ajayi.
The first part of the 1.06 trillion naira ($841 million-plus) highway will be built on Victoria Island, and will run through a total of nine coastal states in Nigeria,
Environmentalists argue that while the coastal road project promises economic benefits, it also presents significant environmental challenges.
[Business Insider]
Electricity tariff: Afenifere says power ministry, NERC forcing Nigerians to pay for their inefficiency
AdminThe pan-Yoruba socio-cultural and political organization, Afenifere, has decried the over 200 per cent electricity tariff increase, saying that it will thwart the current administration’s effort at boosting the economy as businesses will shrink.
Afenifere, in a statement issued by its National Publicity Secretary, Jare AJayi on Saturday.
Afenifere spokesman then wondered how comment by President Bola Tinubu that there is no driver of the economy that is bigger than the private sector during meeting with some organization’s CEO, some days ago can come to past when the amount to be paid per kilowatt hour (kWh) of electricity jumped from N68 to N225 just within 24 hours of its announcement.
The Nigerian Electricity Regulatory Commission (NERC) on April 4 announced that from the following day, electricity consumers on Band A would begin to pay N225 per kilowatt hour as against N68 they have been paying up till then.
Taking a swipe at this decision, Afenifere submitted that it is erroneous to say that only those who are direct enrollees in a particular Band utilize the power being supplied through that band.
“For instance, a Band A consumer is likely to have people in his/her household or place of work where the power is being consumed. Meaning that if 1.5 million is the figure the government has as enrollees on Band A, the number of people who depend on the power coming therefrom would be about five times that figure.
“Besides, by calling on players in the power sector to ensure that people get what they are paying for is like putting the cart before the horse”, Part of the statement read.
The statement further pointed out that virtually everywhere in the country there is the poor supply of electricity and low quality of the commodity sometimes.
Afenifere noted that if relevant government agencies are to be sincere with Nigerians, what they should do is to first ensure regular and efficient supply of electricity before acceding to increase in payment for services that are being poorly rendered.
According to the statement, “A rough calculation indicated that a person on Band A who was paying an average of N50,000 per month (on N68 per kWh) would now have to pay N170,000 for the same service. Note the increase!
“It is noteworthy that the Ministry and its agency, the NERC, are interested in the revenue that would be generated rather than first ensuring regular and efficient supply.
“This is in contradistinction to the claim that the government agencies care about the pains of Nigerians. It is clear that rather than exploring ways to reduce the cost of producing energy thus reducing the pains of Nigerians, the relevant government agencies are passing the price of their own inefficiency on the people.
“For instance, increase in the cost of gas was used as the reason for the hike in electricity tariff.
“Yet, it is clear that even the present cost of producing gas, and by implication electricity, can be made more efficient.
“In other words, both the price of gas as well as electricity would be far lower than what they are presently if the agencies concerned had gone into research and/or take advantage of available information on cost-efficient production of energies”.
[Businessday]
The Minister of Power, Adebayo Adelabu, on Friday, gave necessary insight into his ministry’s activities and the plans of the President Bola Ahmed Tinubu-led administration to improve power supply in the country.
Adelabu also urged Nigerians to be patient with him, saying that the positive yields of the reforms in the power sector will be visible and more importantly sustainable.
He made this known while briefing journalists in Abuja on Friday about the recent increase in electricity tariff by the Nigerian Electricity Regulatory Commission (NERC).
Below are the major highlights of the press conference.
– Before the tariff changed, the government subsidized 67% of electricity costs, rising even higher for generation alone.
– The estimated subsidy cost for 2024, before tariff adjustment, was approximately 2.9 trillion Naira.
– After the adjustment, the estimated subsidy cost for 2024 reduced to around 1.4 trillion Naira. This is a huge drop of over 50% in subsidies alone.
– The tariff increase came with a reduction in Band A feeders, with only 481 remaining out of over 1,000.
– Nigeria has around 12 million electricity customers.
– Only 15% of the total customers who are categorized as Band A customers accounts will no longer receive subsidies.
– Only slightly over 5 million customers are currently metered, leaving a gap of over 6 million.
– Subsidzed pricing will continue temporarily, with a plan to move towards cost-reflective pricing in three years.
– The tariff change is aimed at testing the concept of full payment for 20-24 hours of daily supply.
– The pricing adjustment aims to address liquidity issues and make investments in the sector more feasible.
– There are significant infrastructure challenges in the power sector, including obsolete equipment and vandalism.
– DisCos failing to provide 20 hours of supply to Band A consumers will face sanctions.
– DisCos has an incentive to migrate other bands to Band A to charge higher tariffs.
– Energy consumption management is crucial despite the poorly received ‘freezer’ example.
– Ongoing efforts include regulatory decentralization, renewable energy investments, and infrastructure improvements.
[NaijaNews]