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Geometric Power Plant to Start Electricity Generation Within 2 Months, Says Prof Nnaji

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The 188-megawatt Geometric Power plant in the Osisioma Industrial Layout in Aba, Abia State, will start to generate electricity within two months, according to the Geometric Power group chairman, Professor Bart Nnaji, who is also a former Minister of Power.

Starting with one of its four General Electric brand turbines, the second will come on stream once the performance of the first turbine is declared satisfactory by the team of engineers led by KSE Energy of Turkey and Engineer Ben Caven, a former executive director of the National Electric Power Authority (NEPA) reputed to be the only person to have run the generation, engineering and transmission divisions of the state-owned utility.

“The generation of electicity from the Geometric Power plant will be a game changer in the socioeconomic development of not just Aba city but nine out of the 17 local government areas in Abia State serviced by Aba Power, a member of Geometric group”, Nnaji declared today to wildly cheering participants at the First African Continental Free Trade Area (AfCFTA) Market Opportunities Conference holding at the Technology Incubation Centre in Aba, organised by the Continental Export Import (CONEX) Ltd.

“We have completed building four brand new power substations and refurbishing three substations inherited from the Power Holding Company of Nigeria (PHCN), in addition to providing thousands of kilometres of cables and wires, as well as world-class tubular poles available in only highly industrialised cities such as Tokyo in Japan and San Francisco in California.

“All that remains now is to provide fuel or gas to the Geometric Power plant through the 27-kilometre gas pipeline from Owaza in Ukwa West LGA in Abia State to the Osisioma Industrial Layout on the Aba outskirts.

“Oilserv, Nigeria’s foremost indigenous gas pipeline builder, is doing a good job”.

Professor Nnaji, also a former Minister of Science and Technology who held the title of Distinguished Professor of Engineering in the United States, disclosed that though work has been completed on the seven substations, thousands of kms of wires as well as tubular poles, the power infrastructure will be put in use only when the Geometric Power plant becomes operational.

Th plant commissioning, he added, would bring about a dramatic improvement in not power supply but also its quality.


The Aba Integrated Power Project, he continued, “is the only electricity company in Nigeria that generates and also distributes power”.

He disclosed that he chose to cite Geometric Power to catalyse Aba’s development as the headquarters of indigenous technology and manufacturing, noting that with “constant, quality and affordable electricity soon, the cost of doing business in Abia State will reduce significantly and this will, in turn, impact on the national economy”.

He advised Aba business people to embrace the African Continental Free Trade Area, as it will elminate multiple taxes by various local and state governments as well as the Federal Government.

Nigeria has signed the agreement and ratified it, thus attaining the status of a state party whose goods and services can be exported to other African countries with relative ease.

Nnaji commended Aba businesses for excelling in textiles, leather products and metals which need large export markets.

Other participants in the two-day conference which will end tomorrow include the Nigerian Export Promotion Council, the Nigerian Shippers Council, United Bank for Africa, and the African Export Import Bank (AFREXIM Bank).

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NTA didn’t introduce VAT on charges collected by banks — NRS

The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.

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Photo: NRS chairman, Zacch Adedeji

The Nigeria Revenue Service (NRS) has clarified that the Nigeria Tax Act (NTA) did not introduce VAT on banking charges, nor did it impose any new tax obligation on customers in this regard.

In a statement made available to newsmen and signed by Dare Adekanmbi, Special Adviser on Media to the NRS chairman, Zacch Adedeji, the service said the claims are incorrect.

According to the NRS, VAT has always applied to banking services and was not introduced by the Nigeria Tax Act.

The statement reads:

“The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.

This claim is categorically incorrect.

“VAT has always applied to fees, commissions, and charges for services rendered by banks and other financial institutions under Nigeria’s long-established VAT regime.”

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LIRS gives employers Jan 31 deadline for filing 2025 tax returns

The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.

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The Lagos State Internal Revenue Service(LIRS) fixed statutory deadline of January 31, 2026, for all employers of labour in the state to file their annual tax returns for the 2025 financial year.

The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.

Subair explained that employers are required to file detailed returns on emoluments and compensation paid to their employees, as well as payments made to service providers, vendors, and consultants, and to ensure that all applicable taxes due for the 2025 year are fully remitted.

He emphasised that the filing of annual returns is a mandatory legal obligation and warned that failure to comply would attract statutory sanctions, including administrative penalties, as prescribed under the new tax law.

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Nigeria To Review Inflation Reporting First Time In 15 years

The agency said the expected spike in December inflation did not reflect actual price movements in the economy but was largely a statistical distortion caused by the rebasing of the Consumer Price Index.

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Nigeria’s National Bureau of Statistics (NBS) has announced plans to revise its inflation reporting methodology.

This followed concerns that December’s year-on-year figure may be artificially inflated due to the impact of last year’s rebasing exercise.

The agency said the expected spike in December inflation did not reflect actual price movements in the economy but was largely a statistical distortion caused by the rebasing of the Consumer Price Index.

Reuters reported that the rebasing, the first in 15 years, adopted December 2024 as the index reference point.

Officials explained that the change is likely to exaggerate the year-on-year inflation figure for December without accurately capturing prevailing market trends.

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