Connect with us

Business

MAN Wants Tinubu To Appoint Incorruptible Minister of Power 

Published

on

80 Views

The Manufacturers Association of Nigeria is requesting President Bola Ahmed Tinubu to appoint a committed and incorruptible Minister of Power that has broad experience of the operations and politicking within the power sector.

Otunba Francis Meshioye,  President of the Manufacturers, who made the call, lauded President Tinubu for having signed the Electricity Act 2023 Bill into Law, describing it as a game changer.

He said that given the numerous constraints within the sector, the success of the new Act largely rests on its effective implementation, hence , the need for an incorruptible Minister of Power.

” Over the past decades, the Nigerian power sector has encountered much turbulence in its electricity value chain due to poor policy enforcement, over-regulation, instability of gas supply and bottlenecks in its transmission network.

” These problems have culminated into erratic electricity supply, frequent power outages and persistent collapses of national grid.

“For many years, the situation has stunted the growth of the economy. Consequently, access to electricity has remained a hurdle for millions of Nigerians,” he said.

Highlight of the Electricity Act 2023
In replacement of the Electricity and Power Sector Reforms Act 2005, the Electricity Act 2023 is aimed at providing an all-inclusive framework which will serve as a guide to the decentralization of the power sector in order to encourage private investment and build a competitive electricity market.

Major high points from the Electricity Act are as outlined:
*  States, private companies and individuals are now legally permitted to generate, transmit and distribute electricity.
* Power generation licensees are obligated to meet renewable energy generation as prescribed by the NERC.

* NERC will only surrender regulatory responsibilities to states with established electricity market laws.

*Without a license but an undertaking, the Act empowers any private individual or company to generate not more than 1MW in aggregate at a location.
* Subject to the determination of the NERC, private individuals or companies can sign an undertaking to distribute electricity of not more than 100 Kilowatts in aggregate at a location.

* The Act prohibits interstate or transnational electricity distribution.

* Generating companies are mandated to either generate or purchase electricity from renewable sources or procure instruments for generating renewable energy.

* The Act empowers legislative committees to carry out an oversight function over the NESI

* Except for Lagos, Kaduna and Edo with established electricity market laws, electricity in other states will still be regulated by NERC.

Business

UPDATE: NUPENG Accuses Dangote Refinery of Fuel Sector Monopoly, Warns of Massive Job Losses

Published

on

19 Views

The Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), representing Petroleum and Tanker Drivers (PTD), has condemned Dangote Refinery’s decision to deploy 10,000 Compressed Natural Gas (CNG) tankers for petroleum product distribution, calling it a monopoly that threatens the livelihood of thousands of workers in the sector.

NUPENG described the move as anti-labour and harmful to PTD members, highlighting that drivers recruited by Dangote for these operations are reportedly barred from joining any trade union. The union warned this action violates both the 1999 Nigerian Constitution and international labour laws.

Speaking anonymously, some tanker drivers expressed concerns to journalists that unless the Nigerian Midstream and Downstream Petroleum Regulatory Authority intervenes swiftly, the situation could escalate and seriously damage the Nigerian economy, affecting millions of livelihoods.

The tanker drivers outlined several looming risks including:

  • Loss of income for tanker owners and their families
  • Unemployment for drivers, motor boys, and support staff
  • Job losses for truck mechanics, painters, welders, and fabricators
  • Decline in business for spare parts dealers, tyre and battery sellers
  • Negative impact on depot representatives, artisans, and food vendors
  • Financial ruin for transporters who have invested heavily in the sector

They warned that the move could result in millions of job losses, sparking social insecurity, increased poverty, and a surge in unemployment nationwide.

Continue Reading

Business

Africa Climate Summit begins in Ethiopia today

The first edition of the summit was held in Nairobi, Kenya, in 2023, where African leaders adopted the Nairobi Declaration — a roadmap for the continent’s green growth and financing agenda.

Published

on

By

9 Views

The second edition of the Africa Climate Summit (ACS2) commenced today in Addis Ababa, Ethiopia

Themed ‘Accelerating Global Climate Solutions: Financing for Africa’s Resilient and Green Development’, the summit is billed for September 8-10, is being attended by world leaders, private Sector delegates, and top United Nations officials; policymakers, climate experts, and civil society.

Inputs from the deliberations will be used to forge a common African position ahead of the COP30 negotiations scheduled for Brazil next year.

Discussions will centre on how Africa can tap its vast renewable energy potential, showcase homegrown technology, attract climate finance, and strike a balance between development priorities and urgent climate action.

The first edition of the summit was held in Nairobi, Kenya, in 2023, where African leaders adopted the Nairobi Declaration — a roadmap for the continent’s green growth and financing agenda.

Continue Reading

Business

NUPENG-Dangote Faceoff: PETROAN Backs Union

For PETROAN, don’t forget that the most critical aspect of our operations is our retail outlets staff, and the people who are handling these are in the union.

Published

on

By

16 Views

Billy Gillis-Harry, national president of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said on Monday: “It’s much better for efficiency that all retail outlets must belong to a union. If not, then you go to a station and buy one litre for maybe N2,000, and then you get to other places and buy for N800, and there will be no sanctions because there is no union for internal control.”

Gillis-Harry, in a public statement while reacting to the the dispute between the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Dangote refinery, said that workers’ rights were being violated, which prompted NUPENG’s decision to declare a “warning strike”.

“It is not that they have gone on strike. But they are giving a warning that the situation can become very tasking and troublesome for Nigerians. So let us all get it solved, and I think it is the right idea,” he said.

“For PETROAN, don’t forget that the most critical aspect of our operations is our retail outlets staff, and the people who are handling these are in the union.

So once the NUPENG strike takes effect, our stations will effectively be locked up.”On September 7, the federal government appealed to NUPENG to suspend its planned nationwide strike, while scheduling a reconciliation meeting for Monday.

Continue Reading

Trending