Connect with us


NERC: Togo, Others Owe Nigeria N37bn for Electricity



  • NERC: Togo, Others Owe Nigeria N37bn for Electricity

Three of Nigeria’s international customers who were supplied up to 300 megawatts (MW) of electricity in 2018, are still indebted to the country, a quarterly report from the Nigerian Electricity Regulatory Commission (NERC) has disclosed.

The countries – Togo, Benin and Niger Republics, are represented in the trans-border power trade with Nigeria by two firms – Société Nigérienne d’Electricité, Nigerien Electricity Society (NIGELEC) which is the government firm responsible for electric power generation and transmission in Niger, and Communauté Électrique du Bénin (CEB Sakete) which services both Togo and Benin Republic.

According to the NERC report obtained, the three countries as at September 2018, had not paid any money for electricity sent to them. Cumulatively, their debt to Nigeria’s power market for the first three quarters of 2018 was N37.045 billion ($121.062 million).

The report noted that from January to September, NIGELEC owed N10.086 billion, while CEB Sakete owed N26.959 billion. Both international customers reportedly did not make any attempt to pay for electricity sold to them.

The development followed a recent claim by electricity generation companies (Gencos) in Nigeria the federal government was taking power from them and selling to countries in the West African region under the West African Power Pool (WAPP) on non- commercial but diplomatic terms.

The Gencos had stated that the agreement on the daily export of about 300MW of electricity to African countries did not take into account the commercial framework in Nigeria’s electricity market such as the Multi Year Tariff Order (MYTO) upon which they also produce power, and had insisted that the deal was shrouded in opacity as they often do not know the monetary benefit accruing to them from such sales.

However, in the NERC report, NIGELEC accumulated electricity bills of N0.778 billion; N0.925 billion; N1.190 billion; N1.181 billion; N1.202 billion; N1.181 billion; N1.190 billion; N1.206 billion; and N1.233 billion between January and September, while CEB Sakete raked in N2.33 billion; N2.525 billion; N2.852 billion; N2.775 billion; N3.381 billion; N3.103 billion; N2.635 billion and N2.742 billion in electricity bills to Nigeria within the period.

Meanwhile, the NERC also reported that service complaints received by the 11 electricity distribution companies (Discos) in the country in the third quarter of 2018 were 128,791 against 153,227 received in the second quarter of 2018.
It noted that while the number of complaints decreased within the period under consideration, the proportion of the number of complaints resolved by Discos also improved to 75.6 per cent from the 61.2 per cent recorded in the second quarter of 2018.

According to the regulator, Benin Disco had the highest number of complaints followed by Ikeja Disco, while Yola Disco recorded the lowest customer complaints.
In terms of complaint resolution, Eko Disco had the highest resolution rate of 98.9 per cent followed by Yola Disco which recorded a resolution rate of 97.9 per cent; and Jos – 90.1 per cent. It added that the development reflected better performance in dealing with customer complaints.

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