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FG Approves N39.6bn For Power Sector to Revamp Electricity

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The sum of N39.6bn was on Wednesday, approved by the Federal Executive Council for massive rehabilitation projects in the power sector for extensive electricity distribution. 

Investors King reports that the FEC endorsed the three memos presented by the Minister of Power, Abubakar Aliyu which includes the Ekiti transmission project.

Aliyu disclosed this while addressing newsmen shortly after the FEC meeting presided over by the vice president, Yemi Osinbajo in Abuja.

The minister hinted that out of the N39.6bn contract, N15.6bn would cover works within Nigeria while $53m will go for the offshore components. 

He stated that the first memo presented was on the purchase of transmission lines for the Transmission Company of Nigeria (TCN) which cost $6m and N145m for the offshore and onshore value respectively.

On the second memo, Aliyu said it contained the construction of a 15km turn in-turn out line of the current Akure-Ado-Ekiti 132KV single-circuit transmission line at Akure 330KV, 132KV, 33KV sub-stations contract.

He noted that the Akure sub-station had been in existence since 2021 but wasn’t active due to lack of line, adding that the contract will cater for the activation of transmission lines which will improve electricity circulation in the area and environs.

The third memo submitted, according to him, consists of five projects of the ministry to construct and install 132KV sub-stations and transmission lines at various designated areas in Nigeria as outlined by the TCN.

The projects’ contract was awarded to several contractors with an offshore cost of $53m while the onshore cost is N15.6bn.

His words, “The first memo sought the council’s approval for the procurement of transmission line materials for re-conductoring works for the Transmission Company of Nigeria in favour of Messrs Legacy Power in the sum of $6m; that’s the offshore value. The component for the onshore is N145m inclusive of all the taxes and 12 months of completion.”

“The contract in the second memo was in favour of Messrs Legacy Power Limited in the sum of $2.5m as the offshore component and N988.5m as the onshore component. By the time we are able to energise the Akure line, this project would have been completed so that the whole area will have no problem of electricity. This project will be completed in 12 months and was also approved by the council.”

“The projects in the third memo are all similar—design, supply and install 2 by 60MVA 132 33kV transmission sub-station across the country. We have one in Misau Local Government Area, Bauchi State. We have another one in Mashi Local Government in Kastina State. We have the third one in Benue State, which is Api and North Bank in Makurdi; then we have the fourth one which is at Ebonyi State, one 60MVA transformer at a university in Ebonyi State; then, we have the other one at Ebonyi Airport; then, the fifth one is a line of 30km at Rimin Zakara to Kayin in Kano.”

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Why I’II Never Support Peter Obi Again – Doyin Okupe

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Doyin Okupe

A former Director-General of the Labour Party’s 2023 presidential campaign, Doyin Okupe, has declared that he would never support the 2023 presidential candidate of the party, Peter Obi, in any of his political ambitions again.

Okupe, who had recently resigned his membership of the LP and withdrew his backing for the former LP’s presidential flagbearer, expressed displeasure at Obi’s remarks on economic situation in the country.

Specifically, Okupe, while featuring on a national television programme, responded to some remarks credited to Obi on the hardship ravaging the nation.

Obi had been reported to have critisised the administration of President Bola Tinubu, suggesting that people from the South-West are feeling the heat of the hard times just like other citizens from other parts of the country.

For Obi, Tinubu had campaigned on the mantra that he is a Yoruba man and that it was his turn, stating that people in Yoruba land are not even getting food items and other essential commodities at cheaper rates notwithstanding that the President is from their region.

However, Obi’s submissions had attracted mixed reactions on social media with some criticising him while others supported his assertions.

Weighing in on the raging controversy, Okupe joined the critics, describing Obi’s remark as an “insult” to people in the South-West.

He argued that Obi’s statement publicly belittled the South-West, despite receiving support from prominent Yoruba leaders and other residents of the zone during his presidential electioneering ambition.

Okupe claimed that people from the South West felt insulted hearing Obi uttered such remarks, noting that many, including himself, who supported him regretted it.

He mentioned former President Olusegun Obasanjo as one of the prominent Yoruba indigenes who backed Obi’s presidential bid, saying although he did not regret supporting Obi, he would never support him again.

Okupe attributed his initial support to the agreement that a southern president should emerge, specifically from the South-East, insisting the betrayal he felt by the criticism of the South-West by the former governor of Anambra State.

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Donald Trump Projected To Occupy White House, Congratulated By Nigerian President

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President Trump Signs Executive Order In Oval Office Of The White House

There is an indication that the former President of the United States of America, Donald Trump may become the 47th President of the US.

Trump became more confident in his political comeback in American history after securing his third battleground victory on Tuesday evening by clinching Pennsylvania, bringing him closer to a White House win.

The 78 presidential candidates of the Republican Party already won 266 of the 270 Electoral College votes needed to defeat Vice President Kamala Harris of the Democrat Party.

Trump reversed his 2020 losses in the crucial states of Georgia, Pennsylvania, and Wisconsin — running up big margins among his white rural and working-class base while making significant inroads among ethnic minorities.

Addressing supporters in Florida, Trump claimed victory, saying his performance is unprecedented in the history of the country.

He promised to help the US to heal, stressing that the country needs help very badly.

He also assured citizens of fixing critical infrastructure and other necessary areas of the country.

Meanwhile, President Bola Tinubu on Wednesday extended his congratulations to Donald Trump on his re-election as the 47th President of the United States of America.

Tinubu expressed his eagerness to strengthen the ties between Nigeria and the United States amid the complex challenges and opportunities of the contemporary world.

His congratulatory message was contained in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga.

Identifying synergy and cooperation with the US government as a means of fostering economic prosperity, the President of Nigeria noted that the relationship would promote peace, and address global challenges that affect their citizens.

He said Trump’s victory reflects the trust and confidence the American people have placed in his leadership.

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EFCC Nabs Ex-Delta Governor, Okowa, For Alleged N1.3trn Fraud

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Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former Delta State Governor, Ifeanyi Okowa, over the alleged diversion of N1.3 trillion.

Sources with the EFCC revealed that Okowa visited the EFCC office in Port Harcourt, Rivers State, on Monday before he was subsequently detained by officials.

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

It was gathered that Okowa was at the Port Harcourt office of the Commission following an invitation from investigators probing the allegations against him.

The former governor was said to have been apprehended no sooner than he arrived at the anti-graft office.

Okowa was also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas.

Sources said the former governor reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project.

The funds are alleged to have been misappropriated for other purposes.

They noted that investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State.

Okowa was the running mate to Atiku Abubakar, the presidential candidate of the People’s Democratic Party in the 2023 election.

He was the governor of Delta State from 2015 to 2023 and was succeeded by Sheriff Oborevwori, the incumbent Governor.

When contacted, EFCC spokesperson, Dele Oyewale, confirmed the arrest but declined further comment on the matter.

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