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Nigeria needs $10billion yearly for 20 years to achieve stable Electricity – Power Minister says

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The Minister of Power, Adebayo Adelabu, has said the country needs $10 billion annually to fix the crisis in the power sector.

The Minister spoke on Tuesday, May 13, at the commissioning ceremony of the phase 1-600kw Solar pv power plant at the Nigerian Defence Academy (NDA), Kaduna.

He said: “For us to achieve functional reliable and stable electricity in Nigeria we need not less than $10 billion annually for the next ten to twenty years. But there are some foundational bottlenecks that we experienced in the past that need to be fixed for the spending of this money to have meaning.

“Number one is the legislative and policy foundation which this administration has achieved by signing the energy bill into an act. This bill has achieved liberation and decentralization of the power sector to enable all levels of government federal State and local government to legally and morally play roles in the power sector to give their citizens at sub national levels. This has given autonomy to more than eleven States and more are still coming.
They can now play roles in the power from generation to transmission to distribution and even metering.

“Secondly, we talk about infrastructure deficit, then we talk about fixing infrastructure deficit which has piled up over the last 60 years due to lack of maintenance, lack of additional investment to revive our transmission grid.”

The Minister also emphasised the need to bridge over 50 per cent metering gap which he said the Presidential initiative aims to achieve through 18 million meter installation in the next five years.

Earlier, while addressing military officers at the NDA, Adelabu said: “I stand before you today at this significant occasion, the commissioning of the 600kW and 3MW Solar PV Power Plant here at the prestigious Nigerian Defence Academy.

“These projects, implemented by the Federal Ministry of Power and the Rural Electrification Agency not only underscores our commitment to improving electrification across key institutions in Nigeria but it is also part of our broader mandate to diversify our energy sources, expand access to clean and reliable electricity…

 

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TCN counters AEDC, denies responsibility for Abuja power outage

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The Transmission Company of Nigeria (TCN) has denied responsibility for the power outage in several parts of Abuja.

Its denial counters claims by the Abuja Electricity Distribution Company (AEDC), that blamed the outage in areas such as Dilic Hotel, Prime Plaza, Exclusive Stores, Gilmore, Takwa Crescent, and Former Zartech in the Federal Capital Territory (FCT) on a “technical fault” from the Transmission Company of Nigeria.

This is contained in a statement on Thursday by Ndidi Mbah, spokesperson for TCN.

The statement reads; “The Transmission Company of Nigeria (TCN) informs the public that the power outage affecting Dilic Hotel, Prime Plaza, Exclusive Stores, PENCOM, AMCON, Gilmore, Takwa Crescent, Former Zartech, and its environ is not due to at technical fault from TCN, contrary to Abuja Distribution Company (AEDC)’s claim,” Mbah said.

“TCN’s feeders serving these areas are not in any way experiencing outages. For emphasis, TCN’s feeders serving these areas are functioning normally, contrary to AEDC’s claim.”

The claims and counter claims now put residents in confusion as to the cause of the power outage.

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Fuel price reduction: ‘Joy’s coming’ – Manufacturers

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Director General, Manufacturers Association of Nigeria, Segun Ajayi-Kadiri, sees the price of fuel coming down to N800.

Ekwutosblog reported recently that Dangote Petroleum Refinery slashed its ex-depot price for Premium Motor Spirit, PMS, also known as petrol, to N840 per litre.

The reduction represents a N40 decrease from the previous rate of N880 per litre.

This happened a few days after the Nigerian National Petroleum Company Limited, NNPCL, increased the pump price of petrolto N925 per litre in Lagos.

This decrease is also coming a week after Dangote Refinery increased the ex-depot petrol price to N880 per litre

Speaking in an interview with Channels Television, Ajayi-Kadiri said that it was a welcome development, adding that price of the product would further decrease to N800 with the modalities being put in place by Dangote Refineries.

“You cannot blame anyone for producing and ensuring effective delivery,” he said.

When asked to share his thoughts from a manufacturer’s point of view on what he sees about the long term effect, he added, “So if I may use what the Gen Z is called ‘Joy is coming’, that’s what I see.

“The long term is going to be better. I see the price coming down to 800 and that’s what manufacturers want.

“I just told you now that last year, we spent as much as 1.1 trillion in terms of providing alternatives, apart from the fact that even the quality of the products is not guaranteed.

“So in the near future, I continue to see continued reduction in the price of diesel.

“I also see a situation where other players will be encouraged to come into the field, because that is what it takes. I don’t think that we should use sentiment to dissuade any investor from improving the life and well being of the people.

 

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FCT ground rent: I have no apology for revoking Rochas Okorocha’s land – Wike

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The Minister of the Federal Capital Territory, FCT, Nyesom Wike, has disclosed that he revoked the land of former Imo State governor, Rochas Okorocha.

Wike warned that the FCT Administration under his leadership will repossess any land where the owners fail to pay their land rent.

He disclosed this during the 60th birthday of the Peoples Democratic Party, PDP, National Secretary, Samuel Anyanwu, in Abuja over the weekend.

Anyanwu had celebrated his birthday at the newly renovated Bola Ahmed Tinubu International Conference Centre in Abuja.

Speaking at the event, the Minister assured property owners of getting the best services if they pay their ground rent.

He said: “Rochas Okorocha is here, he is my boss, even though I revoked his land because the right thing must be done, he is my man.

“Senators are here, Ikpeazu, my colleagues are here, yes, if you don’t pay, I will take back our property.

“Look at what Julius Berger did here, is it by empty hand? It is not by money?

“Pay and you will get the best services, and you are getting the best services under the leadership of Tinubu. I have no apologies because I’m the one here.”

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