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Power Generation Rises to 3,730MW as Vandalism Declines

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electricity
  • Power Generation Rises to 3,730MW as Vandalism Declines

The gradual decline in the spate of gas pipeline vandalism seems to be rubbing off on the power sector as the latest industry data obtained on Wednesday in Abuja showed that electricity generation peaked at 3,730.5 megawatts on Tuesday.

This is a confirmation of statements made by the Minister of Power, Works and Housing, Babatunde Fashola, at an event in Abuja on Tuesday, when he pleaded with vandals to stop destroying power installations, adding that the recent rise in electricity generation would be better if they refrained from pipeline vandalism.

From the data, peak electricity generation has hovered above 3,600MW since the beginning of February.

Data from the National Control Centre on sector reform/activities for February 6, 2017 indicated that Egbin and Olorunsogo I power plants added functionality in an additional turbine.

Power generation had peaked at 4,160.4MW on January 1, 2017, but this was not sustained for long as it fell to 1,072.4MW on January 12.

The country’s electricity grid also witnessed series of fluctuations occasioned by several hitches in the system, including power load rejection, trip offs by power plants, as well as limited gas supply needed to fire gas turbines.

The hitches resulted in several system collapses as the grid collapsed four times in January.

Industry operators blame gas supply hitches to the power plants as the major problem that has continued to drag down electricity generation across the country.

According to them, the vandalism of gas pipelines, particularly in the Niger Delta region, has severely impacted the performance of the power generation companies.

Meanwhile, the six newly inaugurated commissioners of the Nigerian Electricity Regulatory Commission have resumed duty at the agency with a promise to promote no other interest than that of the power sector.

Their assumption of duty comes 13 months after the exit of the Dr. Sam Amadi-led team of commissioners.

In the absence of a substantive chairman for the agency, the Vice Chairman, Mr. Sanusi Garba, assured power consumers and operators in the industry that his team would balance the interests of both parties during their tenure as commissioners at NERC.

Garba, who spoke at a brief meeting with employees of the commission in Abuja, also noted that the power sector was in a bad shape, but stated that his team was aware of the tasks ahead.

The vice chairman, in a statement on Wednesday, said, “We are not here to promote any other interest other than that of the power sector. We will try to the best of our knowledge to balance interests of the electricity customers with that of the industry operators.

“We are coming at a time the sector is in a bad shape. We realise the challenges ahead. When people called to congratulate, sometimes we rather requested for their prayers so that we can do the right things in the interest of the sector.”

Garba and five other commissioners of NERC were inaugurated on Tuesday by the Minister of Power, Works and Housing, Mr. Babatunde Fashola, in Abuja. The minister charged them take to headlong some of the challenges in the power sector.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Economy

NNPC Supplies 1.44 Billion Litres of Petrol in January 2021

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The Nigerian National Petroleum Corporation (NNPC) supplied a total of 1.44 billion litres of Premium Motor Spirit popularly known as petrol in January 2021.

The corporation disclosed in its latest Monthly Financial and Operations Report (MFOR) for the month of January.

NNPC said the 1.44 billion litres translate to 46.30 million litres per day.

Also, a total of 223.55Billion Cubic Feet (BCF) of natural gas was produced in the month of January 2021, translating to an average daily production of 7,220.22 Million Standard Cubic Feet per Day (mmscfd).

The 223.55BCF gas production figure also represents a 4.79% increase over output in December 2020.

Also, the daily average natural gas supply to gas power plants increased by 2.38 percent to 836mmscfd, equivalent to power generation of 3,415MW.

For the period of January 2020 to January 2021, a total of 2,973.01BCF of gas was produced representing an average daily production of 7,585.78 mmscfd during the period.

Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 65.20%, 19.97 percent and 14.83 percent respectively to the total national gas production.

Out of the total gas output in January 2021, a total of 149.24BCF of gas was commercialized consisting of 44.29BCF and 104.95BCF for the domestic and export markets respectively.

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Economy

NNPC Says Pipeline Vandalism Decrease by 37.21 Percent in January 2021

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Gas-Pipeline

The Nigerian National Petroleum Corporation (NNPC) said vandalisation of pipelines across the country reduced by 37.21 percent in the month of January 2021.

This was disclosed in the January 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR).

The report noted that 27 pipeline points were vandalised in January 2021, down from 43 points posted in December 2020.

It also stated that the Mosimi Area accounted for 74 percent of the total vandalised points in Janauray while Kaduna Area and Port Harcourt accounted for the remaining 22 percent and 4 percent respectively.

NNPC said it will continue to engage local communities and other stakeholders to reduce and eventually eliminate the pipeline vandalism menace.

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Economy

Nigeria’s Food Inflation Hits 22.95 Percent in March 2021

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Food inflation in Africa’s largest economy Nigeria rose by 22.95 percent in March 2021, the latest report from the National Bureau of Statistics (NBS) has shown.

Food Index increased at a faster pace when compared to 21.70 percent filed in February 2021.

Increases were recorded in Bread and cereals, Potatoes, yam and other tubers, Meat, Vegetable, Fish, Oils and fats and fruits.

On a monthly basis, the food sub-index grew by 1.90 percent in March 2021. An increase of 0.01 percent points from 1.89 percent recorded in February 2021.

Analysing a more stable inflation trend, the twelve-month ended March 2021, showed the food index averaged 17.93 percent in the last twelve months, representing an increase of 0.68 percent when compared to 17.25 percent recorded in February 2021.

Insecurities amid wide foreign exchange rates and several other bottlenecks that impeded free inflow of imported goods were responsible for the surged in prices of goods and services in March, according to the report.

The Central Bank of Nigeria-led monetary policy committee had attributed the increase in prices to scarcity created by the intermittent clash between herdsmen and farmers across the nation.

However, other factors like unclear economic policies, increased in electricity tariffs, duties, subsidy removal and weak fiscal buffer to moderate the negative effect of COVID-19 on the economy continue to weigh and drag on new investment and expansion of local production despite the Federal Government aggressive call for improvement in domestic production.

Nigeria’s headline inflation rose by 18.17 percent year-on-year in the month under review.

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