Connect with us


Workers oppose FG’s N39bn loan to Discos



bank loans
  • Workers oppose FG’s N39bn loan to Discos

The two major electricity unions in Nigeria’s power sector on Friday opposed the Federal Government’s decision to provide N39bn loan to power distribution companies for the provision of meters to customers across the country.

The Trade Union Congress of Nigeria has also opposed the proposed increment in minimum wage in selected government agencies.

The National Union of Electricity Employees and the Senior Staff Association of Electricity and Allied Companies disclosed this at an event organised by the Abuja Electricity Distribution Company for the signing of the AEDC staff conditions of service between the Disco and the unions in Abuja.

The Minister of Power, Works and Housing, Babatunde Fashola, had during the recent 18th power sector stakeholders’ meeting, announced that the N39bn loan would enable power distribution companies to procure meters to reduce the huge metering gap in Nigeria.

But after accepting to sign the staff conditions of service agreement with the AEDC, the General Secretary, NUEE, Joe Ajaero, asked the AEDC’s Managing Director, Ernest Mupwaya, if it was right for the Federal Government to provide funds to power firms after selling out the companies to private investors.

Ajearo stated that NUEE was not in support of the N701bn intervention fund being provided by the Federal Government to power generation companies, adding that the union was also against the move by government to provide N39bn financial support to distribution firms for meter procurement.

“If after four years of running as private companies you (power firms) are still looking for bail-out funds or loans, then I think there is a problem, because it shouldn’t be so,” he said.

The President-General, SSAEAC, Chris Okonkwo, who also signed the AEDC staff condition of service agreement on behalf of his group, stated that the association would oppose the use of public funds for the support of power companies that had yet to deliver satisfactorily, four years after they were privatised.

“Labour will not accept the borrowing of N39bn by the Federal Government to Discos for the procurement of meters. We raised this issue at the Trade Union Congress meeting and we advice you (Discos) to start looking for alternatives,” he said.

In a communiqué at the end of its National Executive Council meeting in Lagos on Friday, the TUC said selective implementation of wage increase of Nigerian workers was retrogressive and unacceptable.

The communiqué by the President, TUC, Bobboi Kaigama and General Secretary of the union, Musa Lawal, called for a holistic approach to wage increase and the retention of minimum wage on the exclusive list.

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


Transcorp Hotels Expand into Marketplace, Launches Aura to Connect People, Hoteliers, Others



Transcorp hotel

Transcorp Hotels Plc, on Thursday, announced it has launched a new digital platform, Aura, through which people can book accommodation, restaurants and experiences.

Aura, Transcorp’s first in the alternative accommodation segment, is part of the company’s asset-light model, leveraging technology to deliver true hospitality, exciting experiences, and drive shareholder value.

It’s a new dawn in the hospitality industry! I am thrilled to introduce you to Aura by Transcorp, the digital platform we are using to connect people to quality accommodation, great food, and awesome experiences,” Managing Director and Chief Executive Officer of Transcorp Hotels Plc. Dupe Olusola said.

For more than 30 years, Transcorp Hotels Plc has been at the forefront of creating a superior guest experience at our locations. Today, our commitment to innovation has offered us an opportunity to extend this beyond the hotel premises,” Olusola added.

The launch of Aura by Transcorp is one of the most significant developments in the company’s history as it seeks to transform the travel and tourism industry in Africa by focusing on three important components of travel, whether for leisure or business — where you stay, what you eat and how you spend your time. With its people-driven hospitality model, Aura is set to revolutionise travel and help remind Africans of our deep history of hospitality.

Speaking on the launch of Aura, Obong Idiong, Chief Executive Officer at Africa Prudential Plc, Aura’s technology partners, expressed his excitement. “Finding the right accommodation when you travel can be incredibly complex. Options available for the right prices are often limited, and travellers sometimes end up with accommodation that taints the travel experience. Transcorp Hotels Plc has been able to fix that with Aura and we are proud to be associated with them.”

To ensure topnotch user experience, we built a solution to drive digital transformation through the adoption of shared living spaces for the Aura business. With an advanced search algorithm powered by artificial intelligence, Aura determines the relevance of locations taking into consideration, the customers’ preferences and requirements to meet them at the point of their needs,” Idiong added.

Priscilla Adeboye, a travel enthusiast and early adopter of Aura, said the global pandemic has pushed international travel down her list. “But I still want to be able to take some time off work or spend a weekend away from home with the family. I have found incredible homes on Aura that meet my need for space and privacy.


Continue Reading


Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director




Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

Continue Reading


FG Reopens Osubi Airport Warri for Daylight Operations




FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

Continue Reading