…Tasks New PPMC Board On Profitability By CHIKA IZUORA, Lagos As the festive periods draw near, the Nigerian National Petroleum Corporation (NNPC), has assured that it would ensure a hitch-free supply of petroleum products nationwide during the season. Group managing director of the corporation, Dr. Maikanti Baru, who made the commitment during the inauguration of the board of directors of the Petroleum Products Marketing Company (PPMC), a subsidiary of the NNPC, charged that the company must ensure steady supply of petroleum products even well beyond the festive periods hitherto often characterised by supply hiccups. “The festive season is fast approaching, a period when almost always, people expect queues to happen. If last year you had a queue-free festive season, we want this year’s to be a season where fuel station attendants will be inviting motorists to their stand for fueling,” the GMD charged. Baru prodded PPMC management to re-strategise to ensure leaner operating cost...
BY CHIKA IZUORA, Lagos Vice President Yemi Osinbajo has stressed the need for Nigeria to use its oil wealth to prepare for a durable future when the world no longer runs on fossil fuels. He spoke at the 55th anniversary of the Oil Producers Trade Section of the Lagos Chamber of Commerce and Industry (LCCI) in Lagos. Osinbajo said Nigeria must develop renewable energy and help other businesses flourish to adjust to the reality of the dwindling significance of fossil fuels. Oil-rich countries like Nigeria, he stated, have an obligation to prepare for a destiny that may well be beyond oil, adding that the federal government had for the umpteenth time talked of diversifying Africa’s largest economy away from reliance on oil, but earnings from output of crude still provide two-thirds of state revenue. The VP advised multinational oil companies in the country to invest in renewable energy research and development to help Nigeria...
BY ISAIAH BENJAMIN, Kaduna The Chairman of Kaduna Electricity Distribution PLC, Alhaji Yusuf Hamisu Abubakar has advocated a paradigm shift and the need for all stakeholders to focus serious attention on developing the nation’s technological sector as a way of adding value to locally produced products and addressing the growing unemployment challenges among youth. He made the charge yesterday in Kaduna while speaking at a roundtable discussion titled “How innovation drives entrepreneurship: the case for SME’s and Start-ups”, organized by Verdant Zeal in conjunction with Kaduna State Government. Alhaji Yusuf Hamisu Abubakar who doubled as the Chairman of the occasion also charged universities and other research institutions in the country to channel their energy and research programmes towards meeting the nation's industrial needs and adding value to indigenous products so as to make them more competitive in the global market. “We must think for the future while addressing the current challenges,” he...
By Sunday Isuwa, Abuja, Anayo Onokwugha, Port Harcourt, Okechukwu Obeta, Anambra and Salihi Abubakar Bello, Kano The Nigerian Army said yesterday that it decided to embark on Operations Python Dance 11 and Crocodile Smile 11 in the South East and South South geopolitical zones of the country in order to tackle the rising challenges of militancy, kidnapping and pipeline vandalism. The Chief of Army Staff, Lt. General Tukur Buratai, stated this while speaking at the executive session of the ongoing 13th All Nigeria Editors’ Conference (ANEC) in Port Harcourt, the Rivers State capital. He said the ongoing Operation Mesa in Northern states and the Middle Belt is aimed at tackling challenges of cattle rustling, herdsmen-farmers clashes and kidnapping. Buratai, who was represented by the General Officer Commanding (GOC), 6 Division, Nigerian Army, Major-General Enobong Okon Udoh, said the exercises are aimed at focusing the personnel to relative professional scenarios as against stimulated training...
By ABAH ADAH, Abuja - Stakeholders in the Nigerian Electricity Supply Industry (NESI) have advised against any attempt at jerking up the electricity tariff as NERC holds consultations towards reviewing the Multi-Year Tariff Order 2015 which though signed in 2015, became effective from February, 2016. Speakers at the consultation being held by the  Nigerian Electricity Regulatory Commission (NERC) in Abuja yesterday expressed fear that any upward review (increment) of electricity  tariff may lead to a worse economic crisis now that the country has just managed to wriggle out of recession. NERC is holding consultations with stakeholders in each of six geopolitical zones across the country to look into possibility of coming up with new regulations on MYTO methodology, Business Continuity, and Eligible Customer Declaration, today being the second and final day it is being held  in Abuja for the Northcentral, after it was first done in Lagos for the Southwest last week. According...
By CHIKA IZUORA, Lagos and ABAH ADAH, Abuja ...Set to offset MDA debt to Discos -   The minister of power, works and housing, Babatunde Raji Fashola has sought closer private sector collaboration especially in the distribution chain following improved electricity generation currently put at 6,000 megawatts. Addressing the 19th power sector stakeholders meeting in Lagos yesterday, hosted by Eko Disco, the minister reminded operators that the meeting focuses on identifying, discussing, and finding practical solutions to critical issues facing the Nigerian Electricity Supply Industry. Fashola also informed them of the Payment Assurance Guarantees to the Generation companies, as well as the verification of the ministries, departments and agencies, MDA debts which have been announced in the meetings and the media, as parts of the Government’s plan to resolve liquidity challenges in the Power Sector. He commended the Nigerian Electricity Regulatory Commission (NERC) for its new MiniGrid regulation which has yielded new projects already with...
President Muhammadu Buhari has been urged to remain focused in his determination to transform the lot of the country and put the economy in good shape. This charge was contained in a statement issued at the weekend and signed by National Chairman of Petroleum Tanker Drivers’ Branch of the National Union of Petroleum and Natural Gas Workers, (NUPENG), Otunba Salmon Oladiti. Recall that Buhari returned to the country at the weekend after over 100 days on medical vacation in the United Kingdom. In a statement made available to journalists in Abuja, Oladiti who expressed concern over negative comments on the state of health of President Buhari, while he was out of the country, said he was excited that certain individuals who were playing god that Buhari’s health had worsen and he would not return to his seat have been put to shame. He said: " Now that President Buhari is back in the country, we are waiting for those who promised to commit...
By ABAH ADAH, Abuja The federal government has approved N39 billion loan to Electricity Distribution Companies (DISCOs) for the supply of meters, Minister of Power, Works and Housing, Babatunde Fashola, has disclosed. The minister made the disclosure on Monday in Kano at the 18th Monthly Power Sector Stakeholders Meeting hosted by Kano Electricity Distribution Company (KEDCO). He said the gesture was part of power sector recovery programme of the government aimed at ensuring uninterrupted power generation and distribution. He added that it was also aimed at ensuring that every consumer of electricity is provided with a meter. “It is also aimed at ending the series of complaints by consumers who applied for meter but were not supplied at the appropriate time,’’ he said. The minister explained that the successful implementation of the power sector recovery programme would assist in resolving the conflict between distributors and consumers over tariff collection. Mr. Fashola said power generation improved tremendously...
By Abu Nmodu, Minna President Dangote Group, Aliko Dangote, yesterday disclosed that the company will invest 450 million dollars in agriculture development in Niger State over the next three years Dangote who gave the hint at the 2017 Niger State Investment Summit in Minna, Niger State capital, said the funds will  be used in establishing a large scale rice processing mill to process over 200, 000 metric tonnes of paddy rice. He said that a state-of-the-art fully integrated sugar refining industry would also be established. His words: “The Dangote Group is committed to invest around 450million dollars over the three next years to establish a large scale rice processing mill for out growers. “Our company is also establishing a state of the art fully integrated sugar industry involving the development of over 30,000 hectares of sugar cane plantation and the production of about 500, 000 metric tonnes of refined sugar. “We are very excited about...
By CHIKA IZUORA, Lagos Federal government’s decision to procure prepaid meters for electricity consumers in the country through a special intervention process will cost the country a whopping N224 billion. While the figure is based on current estimated cost of a 3 phase meter which is put at N80,000, the decision became necessary following the inability of Distribution Companies (DisCos) to meet their metering obligation. Executive secretary of Association of Nigerian Electricity Distributors (ANED), the umbrella body of power distribution companies, Mr. Sunday Oduntan, told LEADERSHIP Sunday that conservatively, about 2.8 million household electricity consumers are currently unmetered. Speaking on the constraints facing DisCos over meter roll out, Oduntan said, “Currently, the distribution companies are carrying out customer enumeration exercise to determine the exact metering gap. “From the old system, we had about 8 million unmetered customers but we know the figure is more than that because we discovered that so many people are...