Connect with us

Government

Power Firms Not Meeting Govt Expectations – Ministry

Published

on

The Minister of Power, Works and Housing, Babatunde Fashola
  • Power Firms Not Meeting Govt Expectations

Electricity distribution companies have not improved customer services at the pace that the government and the country expects, the Ministry of Power, Works and Housing has said.

It said in a communiqué that the Discos were not paying fully for the electricity they received from the generation companies through the Nigerian Bulk Electricity Trading, to which N702bn had been committed by the Federal Government to enable it meet its payment obligations to Gencos on a more regular basis in order to ensure delivery of electricity across the country.

The ministry, however, said some of the reasons for the failure were not the fault of the Discos alone.

The government-owned NBET was established to buy electricity in bulk from the generating companies licensed to produce electricity and sell to the Discos.

The communiqué read in part, “Regulatory and tariff inconsistencies of the past administration, unexpected changes in the foreign exchange market, and lower than expected generation due largely to pipeline vandalism, for example, have challenged the Discos’ ability to perform.

“But much of the failure relates to their inadequate financial and technical capacity, and some sharp practices of the Discos in their administration of collections from customers.”

Explaining the reason for the government intervention, the communiqué stated that as a result of the aforementioned inadequacies, the NBET’s monthly collection from the Discos was not enough to pay for its contractual obligation to the Gencos, resulting in huge government debts.

It said the payment by the Discos to NBET was as low as 17 per cent of the latter’s invoice in recent months.

“In January 2017, it was 24.9 per cent. The Gencos in turn do not pay their gas suppliers, equipment suppliers, banks and other partners what they are contractually bound to pay. The Discos also do not pay the Transmission Company of Nigeria what is contractually due to it for transmitting the energy the Discos sell to consumers,” the ministry said.

It added that these had resulted in payment shortfalls with the accumulated debts increasingly threatening the electricity supply system and undermining the growth of the economy and the electricity sector.

The communiqué further stated, “In recognition of the critical role that energy and access to electricity plays in economic growth and poverty reduction, the Federal Government of Nigeria as part of its Economic Growth and Recovery Plan, at its Federal Executive Council meeting of March 1, 2017, has taken far-reaching steps to reset the electricity industry.

“These steps, conceived within a sequence of sector reforms, confirm government’s commitment to enforcing decisions taken as a nation to move from a vertically integrated government owned statutory monopoly that did not serve our power needs, to a private sector led industry, with government as guarantor, regulator and policy maker, that achieves the objective of developing a better and sustainable power sector as quickly as possible.”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Continue Reading
Comments

Government

I Knelt Down, Begged Wike for Peace to Reign in Rivers – Fubara Reveals Amid Tension 

Published

on

Siminalayi Fubara

Amid the growing political tension and upheaval in Rivers State, Governor Sim Fubara, has revealed that he has done everything possible for him to prevent the current panicking situation in the state.

According to him, he practically knelt down for his estranged political godfather, Nyesom Wike and begged him to let go of their feud, but the former governor rebuffed his pleas.

While speaking on a television political programme, Fubara went into memory lane on how he had strived to please the current Minister of the Federal Capital Territory Abuja, saying he (Fubara) kept all understanding with Wike.

The governor said he has been showing understanding in order not to expose the state to violence but added that the minister thwarted his good intentions for the state, hence the violence that has enveloped Rivers.

According to him, “There is nothing I have not done on this earth for peace to reign. I can tell you the number of times I have knelt to beg that let’s allow this issue to go. I have done everything.”

He therefore urged Wike, his predecessor, to allow peace to reign in the state by letting go of Rivers State.

Fubara stated that the current troubling situation in the riverine state has gotten to a point where Wike needs to let go and allow peace in the state.

Investors King had reported that Rivers was thrown into crisis on Monday, a day after the swearing-in of 22 winners of the controversial Saturday local government elections in the state.

The swearing-in of the chairmen from other political parties other than the ruling Peoples Democratic Party, had enraged Wike’s camp as hoodlums began attacking local government council secretariats, burning office equipment, files, chairs and tables, and equipment.

Disturbed by the ugly development, President Bola Tinubu had directed the Inspector General of Police, Kayode Egbetokun, to secure Rivers State’s local government secretariats following the arsons.

Meanwhile, Olabode George, former deputy national chairman of the PDP, urged Wike to allow Fubara to work.

In a statement, George said asked Wike to leave Fubara alone and allow him to fastrack dividends of democracy for his people.

Continue Reading

Government

One Feared Killed, Property Destroyed as Hoodlums Set Rivers LG Secretariats Ablaze

Published

on

2023 Presidential Candidates

In an alleged move to prevent the newly elected Local Government Chairmen in Rivers State from resuming offices, hoodlums went on a rampage across council secretariats in the state, setting them ablaze and destroying property.

At least, one person was reportedly killed as sporadic shooting rented the air in Bori, Khana Local Government Area of the state on Monday after some hoodlums stormed the premises.

Recall that protests had rocked some local government areas over the order of the police to unseal the Secretariats of the 23 LGs of the state which have been under lock and key since July.

Sequel to the relocation of police personnel stationed at the 23 council offices, it was gathered that the new chairmen, who had been sworn in by the state governor, Sim Fubara, made attempts to resume their offices on Monday.

However, there was tension as some protesters armed with guns and dangerous weapons besieged the secretariats and started torching the building and other property in sight.

They started shooting while people started running in different directions.

In a similar pattern, violent protests occurred at other LGs where some youths took over the council headquarters in Emuoha and Ikwerre LGs.

In Ikwerre LG, protesters who invaded the secretariat in Isiokpo set fire to a section of the secretariat, preventing the workers from assessing the place.

It was gathered the situation prevented the newly sworn-in Chairman of Ikwerre from going in to inaugurate his councilors.

Gunshots were heard at Ikwerre LG Secretariat in a video obtained by Investors King as some people were screaming for help amid the fire.

A source said the police later moved in to quell the riot while the fire was put out, though some parts of the council headquarters were damaged.

In Emuuoha LG, protesters prevented the newly sworn-in chairman from assessing the council headquarters in Isiokpo.

The protesters claimed that the candidate of the Action Peoples Party which they termed an unpopular and unknown party does not have what it takes to win the just concluded election.

The protesters were said to have blocked the main entrance to the secretariat.

They were said to have taken control of the administrative building, saying they would not allow the Chairman, David Omereji, to assume office.

Their supporters insisted that they recognised the immediate past KG Chairman, Dr Chidi Lloyd, as the duly elected chairman and demanded that he be allowed to complete his tenure as extended by the state House of Assembly.

The PDP Emohua Council Chairman, Morrison Jim, addressed the public, reaffirming the party’s commitment to democracy and the rule of law.

He said despite not participating in the recent election due to a court order, the PDP remained strong and united.

Earlier on Monday, protesters invaded the Eleme LG secretariat and set it on fire, destroying several buildings and cars, including a police vehicle inside the council premises.

Continue Reading

Government

Wike’s Camp Dares Fubara After Swearing in LG Chairmen From Another Party as PDP Govs’ Forum Reacts

Published

on

Siminalayi Fubara

The Rivers State chapter of the Peoples Democratic Party (PDP), loyal to the FCT Minister of the Federal Capital Territory Abuja, Nyesom Wike, has declared fresh ‘war’ against the state governor, Sim Fubara for swearing in the newly elected local government chairmen from another party.

The local council election, held last Saturday, saw the Action Peoples Party (APP) winning 22 out of 23 chairmanship positions, while the Action Alliance (AA) secured one.

Additionally, the APP claimed victory in 314 out of 319 councillorship seats across the 23 local government areas (LGAs) of Rivers State.

Following the election, Fubara swore in the newly elected council chairmen on Sunday. It is understood that after losing control of the PDP to Wike, Fubara’s supporters shifted their allegiance to the APP.

Reacting, PDP Publicity Secretary, Kenneth Yowika expressed the party’s intention to take legal action, stating that the camp didn’t recognize Sunday’s swearing-in ceremony.

Yowika emphasised that the party had long maintained that the election was illegal, citing a Federal High Court ruling by Justice Peter Lifu, which prohibited the conduct of the council election.

He stressed that the state government’s decision to proceed with the election was a violation of that judgment.

Reiterating the party’s stance on adhering to the rule of law, he described his camp as law-abiding, promising not to engage in physical confrontation with the governor.

Meanwhile, the Chairman of the PDP Governors’ Forum, Senator Bala Mohammed, has said that his Rivers State counterpart, Governor Fubara has proven himself a true democrat.

Mohammed said Fubara has against all odds, pushed through with decisions and actions to deepen democracy.

Mohammed further said Fubara has done so by being proactive with an open mind and deploying his democratic instincts with strategies to carefully deliver democratic governance at the local government level, irrespective of party allegiance or consideration.

Mohammed, who is also the Governor of Bauchi State, made the remark shortly after he witnessed the swearing-in of 23 democratically elected Rivers State Local Government Council Chairmen at the Executive Chambers of Government House in Port Harcourt on Sunday evening.

This was contained in a statement issued by the Chief Press Secretary to the Governor, Nelson Chukwudi, in Port Harcourt on Monday morning and sent to newsmen.

The PDP Governors’ Forum chairman affirmed that Rivers State is a PDP State, even if the just sworn-in local government chairmen and councilors are of different political parties.

He bemoaned the situation, describing it as the problem that they have found themselves both as a party and as governors.

However, Mohammed said Fubara, who is the Vice Chairman of the PDP Governors’ Forum, is still an avowed member of the PDP even though other parties constitute the body of elected officers at the local government level.

Mohammed pointed out why it is inadvisable to ignore a sitting governor at the sub-national level because of the role he plays and the following he commands.

This is why, he insisted, the effrontery to undermine the office and person of Sir Siminalayi Fubara as the Governor of Rivers State is largely not acceptable.

Responding to how soon the PDP will resolve its festering crisis and achieve the desired unity, Governor Mohammed assured that it may seem prolonged but quickly added that true reconciliation was in view.

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending