FG Approves N39.6bn For Power Sector to Revamp Electricity
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.”
Lagos Govt Signs MoU With eTransact For Setbacks, Open Spaces Management to Boost IGR
In a bid to better manage the open spaces and setbacks in Lagos, the state government has signed a Memorandum of Understanding (MoU) with a fintech firm, eTransact.
The Memorandum, Investors King reports will regulate the use of the setbacks and Incidental Open Spaces (IOS) to improve the state’s internally generated revenue while enhancing beauty and physical orderliness in Lagos State.
The pact was signed by the State Ministry of Physical Planning and Urban Development at the State Secretariat in Alausa, Ikeja, to ensure smooth partnership between Lagos State Planning and Environmental Monitoring Authority (LASPEMA) and the fintech company.
The Commissioner for Physical Planning and Urban Development, Engr. Omotayo Bamgbose-Martins, who was represented by Special Adviser to Governor Babajide Sanwo-Olu on e-GIS and Planning Matters, Dr. Olajide Babatunde and Permanent Secretary of the ministry, Mr. Oluwole Sotire signed for the state government while the Managing Director of eTransact, Mr. Niyi Toluwalope and Group Head, Legal of eTransact, Ms. Eme Godwin signed for the company.
In a statement, the eTransact promised to implement an integrated digitalised solution for the data collection and management of revenue collection through the use of technology, adding that businesses occupying setbacks and open spaces will be well monitored to further increase IGR of the state.
According to Babatunde, the official public-private partnership would ensure proper management of the environment.
He noted that there will be better accountability and growth in IGR to further serve the interest of the people of Lagos.
In his remarks, Toluwalope said that the partnership will improve social development, develop solutions on data collection and proper use of setbacks and open spaces through digital means.
He reiterated the company’s commitment to build an attray and prosperous city for all in partnership with the state government.
He said: “eTranzact is a premier technology solutions company in Nigeria. Today we are partnering with the Lagos State Government and LASPEMA for the enumeration and data management of the occupants of the setbacks and incidental open spaces within the City. We are licensed by the Central Bank of Nigeria (CBN) to provide this service.
“The Lagos State Government has taken this laudable initiative to identify the setbacks, enumerate the people on these setbacks, do the necessary data capture, and manage the entire setback infrastructure in the state so that it is structured; following the proper model for setbacks, improves beautification, improves transparency within the environment and ensures that our critical urban infrastructure is well laid out properly to ensure Lagos functions as a major critical landmark with global recognition.”
Asiwaju Bola Tinubu Petitions NBC to Sanction Channels TV Over Alleged Breach of Broadcasting Code
Asiwaju Bola Tinubu, the President-elect, has reportedly filed a petition with the National Broadcasting Commission (NBC), calling for the sanction of Channels Television for allegedly breaching the Nigerian Broadcasting Code.
The petition alleges that the TV station allowed its guest, Labour Party Vice Presidential candidate Datti Baba-Ahmed to make several incendiary comments that impugned the integrity of the 25 February 2023 Presidential elections.
According to Tinubu’s petition, Baba-Ahmed claimed that the Labour Party won the election, which is “a fallacy and not correct,” and he alleged that President Buhari should not swear in the President-elect because he did not score 25% of the vote in the FCT, which is a prerequisite for being declared the winner.
Tinubu also accused Baba-Ahmed of making subversive, inciting, and inflammatory comments, which breached the Nigerian Broadcasting Code.
The petition calls on NBC to apply sanctions against Channels TV, stating that the TV station’s guest was “not only provocative but also inciting the public and the Labour Party followers to delegitimize the outcome of the elections but also propagate resistance against the incoming duly elected administration of Bola Ahmed-Tinubu and Kashim Shettima.”
This development comes amid tensions and uncertainties surrounding the aftermath of the 2023 Nigerian Presidential elections with some political parties and their supporters contesting the results and calling for a rerun. The Nigerian Broadcasting Code aims to regulate the activities of broadcasters and ensure that they promote national unity, peace, and social harmony, among other objectives.
NBC is yet to respond to Tinubu’s petition or issue any statement on the matter. However, this petition highlights the need for broadcasters and media houses to uphold journalistic ethics and professional standards, especially during sensitive periods like elections.
Court of Appeal Upholds Adeleke’s Victory in Osun State Governorship Election
In a landmark judgement, the Court of Appeal sitting in Abuja has affirmed the victory of Senator Ademola Adeleke as the rightful governor of Osun State.
The ruling, which comes as a surprise to many, overturned the decision of the Osun State Governorship Tribunal which had earlier nullified Adeleke’s election victory.
Following the governorship polls in the state, an Election Petition Tribunal had sacked Adeleke from office, citing his failure to secure the majority of lawful votes during the July 16 governorship polls. However, in a unanimous agreement by a three-man panel led by Justice Mohammed Shuaibu, the Court of Appeal quashed the tribunal’s judgment and gave its verdict to uphold Adeleke’s victory.
The Appeal Court Panel revoked the tribunal’s order which directed that a Certificate of Return be withdrawn from Adeleke and issued to his predecessor and All Progressives Congress (APC) candidate, Gboyega Oyetola. The panel held that the Osun State Tribunal was wrong to have said that there was overvoting, a claim that only relied on the evidence by Oyetola and the APC, and as such, doesn’t prove their case in any way.
The judge faulted Oyetola and APC, that they only relied on the data from the back end server and failed to look at the voters register which forms the foundation of the whole electoral process and as such, cannot strengthen their allegations of overvoting. The court also resolved in favour of Adeleke on the issue of jurisdiction, stating that section 285(8) of the constitution as amended, the court has every right to entertain the appeal.
The ruling is a significant victory for the Peoples Democratic Party (PDP) and Adeleke, who had been locked in a legal battle with the APC over the governorship position since the election. Many Nigerians have applauded the Court of Appeal’s decision as a step towards consolidating the country’s democracy and upholding the rule of law.
The decision has also set a precedent for future electoral disputes in the country, as it highlights the importance of credible evidence in proving electoral malpractice claims. This ruling has shown that allegations of overvoting cannot be sustained without concrete evidence from the voters register, and political parties must be thorough in their investigations and presentation of evidence in such cases.
Binance on Chain Balance Stands at $64B Despite Investigation by U.S. Regulators
Huawei Records Decline in Profits For 2022 as US Sanctions, China’s Pandemic Impacts Earnings
Osinbajo Lauds China on Loans Offered to Africans, Repayment System
News3 weeks ago
Npower Pays November, December Stipends; Gives Update on Next Step
Finance2 weeks ago
Npower Release Update on Failed Payment, Send Validation Link to Affected Beneficiaries
Cryptocurrency3 weeks ago
90 Million People Use Cryptocurrency in Nigeria – Report
Technology4 weeks ago
Africa Emerges as The Worst Performing Region in Internet Value
Fintech4 weeks ago
Nigerians Turn to Digital Banks as Traditional Banking Apps Face Challenges
Billionaire Watch3 weeks ago
Aliko Dangote, Johann Rupert Sit Atop Africa’s Forbes Richest Persons List in 2023
Government3 weeks ago
INEC Considers Postponement of Governorship and State Assembly Elections Amidst Legal Battles
Government4 weeks ago
FG Estimates N869bn For 2023 Census, Seeks Financial Aid