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Electricity: FG Pays Over $120m To Offset Gas Debts
The Federal Government says it has paid $120m out of the $1.3bn owed gas firms for the supply of gas for the running of power plants in Nigeria.
Nigeria’s power generation has dropped in recent weeks. According to the Minister of Power Chief Adebayo Adelabu, the development was due to gas suppliers stopping the supply of gas for the generation of electricity over the indebtedness of the sector to producers.
But during the 7th Nigeria International Energy Summit, the Director, Decade of Gas Secretariat Ed Ubong said the Federal Government has paid part of the debts.
“As of last year, that (gas debts) was about $1.3bn, depending on how you add up the numbers. But I am pleased that between October and the end of January, the government has paid over $120m to offset some of that money,” Ubong said in Abuja on Thursday.
He said: “More importantly, the government is also now working on a framework that can mitigate most of that failure. That’s a piece of work that is ongoing and we hope that it will be approved and then the industry can move away from that legacy issue.
“We must build capacity for that. Capacity for the engineers, and technicians that will work in this new gas sector that we are looking at for the next eight months. And as the secretary, we are committed to that,” Ubong added.
News
President Tinubu Cheers US, Nigerian troops elimination of ISIS top leaders, Lauds Trump (Video)
“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.
President Bola Tinubu, strengthened by the US military Command vows more decisive strikes against all terrorist enclaves across the nation.
President Tinubu was reacting to Saturday’s overnight successful joint counterterrorism operation carried out by Nigerian and United States forces against an Islamic State hideout in the Lake Chad Basin which resulted in the elimination of a wanted Islamic State senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, alongside several of his lieutenants.
In a State House statement issued on Saturday by Bayo Onanuga, the president’s aide, Tinubu said “Our determined Nigerian Armed Forces, working closely with the Armed Forces of the United States conducted a daring joint operation that dealt a heavy blow to the ranks of the Islamic State.
The president stated that early assessments confirmed that the strike targeted the terrorist leader’s compound in the Lake Chad Basin.
Tinubu however expressed appreciation to the United States for supporting Nigeria’s counterterrorism efforts and advancing shared security objectives.
The president also thanked Donald Trump for what he described as leadership and unwavering support in the operation, saying, “I extend my sincere gratitude to President Trump for his leadership and unwavering support in this effort.”
He further commended military personnel from both countries for their professionalism and courage during the operation.
“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation.
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News
Many Trapped in Abuja Collapsed Building , 3 Dead (Video)
Eyewitnesses said that about 70 workers were on site at the time of the incident at the building located around Gaduwa Estate in the Gudu area.
Tragedy struck in the Durumi 3 area near Gudu Market, Abuja, after a three-storey building under construction collapsed on Saturday moring leaving at least three persons dead.
Eyewitnesses said that about 70 workers were on site at the time of the incident at the building located around Gaduwa Estate in the Gudu area.
Three bodies had been evacuated as of the time of filing this report, while rescue efforts were still ongoing to save other victims trapped beneath the rubble.
Officials and emergency responders were seen at the scene carrying out search-and-rescue operations as anxious residents gathered around the area.
The cause of the collapse is yet to be officially confirmed at the time of this report.
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News
President Tinubu returns to Lagos ahead of APC primaries tomorrow (Video)
Tinubu’s aircraft touched down at about 7:12 p.m. at the Presidential Wing of the Murtala Muhammed International Airport, Ikeja.
• President Tinubu chats with African business leaders during the African CEO Forum in Nairobi, Kenya.
President Bola Tinubu on Friday arrived in Lagos after a three-nation visit to France, Kenya and Rwanda.
Tinubu’s aircraft touched down at about 7:12 p.m. at the Presidential Wing of the Murtala Muhammed International Airport, Ikeja.
A statement issued by his special adviser on information and strategy, Bayo Onanuga, said that the president was received by Lagos State Governor, Babajide Sanwo-Olu; Deputy Governor, Femi Hamzat; Chief of Staff to the President, Femi Gbajabiamila; Speaker of the Lagos State House of Assembly, Mudashiru Obasa; and other government officials.
President Tinubu, while in France, met with global investors, emphasising transparency and fiscal discipline and explaining the rationale for the swift implementation of the bold economic reforms his administration has instituted.
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