News
TCN Reduces Electricity Supply to Aba from 25MW to 10MW, as Nationwide Electricity Crisis Increases
The Transmission Company of Nigeria (TCN) has reduced electricity supply to the Aba Ring-fenced Area that compromises nine of the 17 local government areas in Abia State by more than 50%.
According to sources close to Aba Power which serves the nine LGAs but who asked for anonymity in the media because they are not authorized to speak to the press on the issue, the reduction started last week, with supplies dropping from 25 Megawatts to 10MW without any official explanation or apology.
The Aba Power Managing Director, Patrick Umeh, confirmed the drastic reduction in a brief telephone conversation with journalists this afternoon but declined further comment because “I am in Lagos right now attending a critical meeting of the Nigeria Electricity Regulatory Commission (NERC)”, where he once served as the Commissioner for Market Rates, Market and Competition.
Aba, Nigeria’s centre of indigenous technology and local manufacturing, needs 100MW to achieve electricity stability, according to Chief Adolphus Udeigbo, President General of the 22,00O -member Aba Landlords Protection and Development Association (ALPADA).
“We have been complaining bitterly that the 25MW from the NDPHC is grossly inadequate, only to have it cut further at a time of acute heat and unprecedented economic crisis”, the ALPADA leader said.
“It’s so painful that Aba people couldn’t watch some of the matches at the just concluded African Nations Cup Competition in Cote d’Ivoire because of the meagre supplies”.
Chief Udeigbo described the significant cut as shocking because the Geometric Power group, which owns Aba Power, “has just paid N500m to one of the Federal Government’s agencies for supplies”.
Bob Chukwueke, an Aba-based legal consultant, told journalists this morning: “This is why we can’t wait for the 181MW Geometric Power plant at the Osisioma Industrial Layout in Aba to get commissioned so that we will be freed the embarrassing performance of the nation’s electricity networks”.
There are unconfirmed reports that the Geometric Power plant may be commissioned before the end of this month.
An engineer working at the TCN confided in our correspondent today that his company diverted 15MW from the 25MW supplied to the Aba Ring-fenced Area to other parts of Nigeria to help mitigate the worsening energy crisis throughout the nation.
The engineer, who did not want his name disclosed for fear of repercussions, revealed that gas-producing firms have in the last few weeks reduced their supplies to power generation companies because of the huge amounts owed for previous supplies.
Eighty per cent of Nigeria’s electricity output is from thermal power plants, so reduced gas supplies are bound to have a serious impact throughout the country.
As though to worsen the country’s power crisis, the three hydro plants at Shiroro, Jebba, and Kainji, all in Niger State, are performing suboptimally now because of the dry season.
“It is a pity that Nigeria has continued to suffer water management problems at the dams”, stated Matthew Abiodun, a retired engineer with the Kainji power station, Nigeria’s biggest hydropower plant which was built in 1968.
The transmission network has also been in poor shape, Abiodun added.
“It is old, poorly maintained and so fragile”, he told a meeting of engineers in Lagos recently.
“It collapses easily, and it is worsening by the month”.
There is hardly any month there is no complete system collapse, meaning nationwide blackout”.
News
Senate confirms Oyedele as minister
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
The Senate has confirmed the nomination of Taiwo Oyedele as Minister of State for Finance.
His confirmation comes after two hours of screening as lawmakers grilled him on various aspects of the economy.
Oyedele’s screening followed a motion moved by Opeyemi Bamidele, the Senate leader, after he called for the suspension of the Senate rule to allow strangers to come into the chamber.
During the screening, Oyedele proffered solutions to getting out of the various economic issues in the country.
Oyedele was escorted to the chamber by Bashir Lado, the Special Adviser to the President on the National Assembly ( Senate), alongside others.
His screening followed President Bola Tinubu’s letter to the Senate on Tuesday, requesting his confirmation as a minister.
Tinubu had, on March 3, nominated Oyedele, who currently serves as chairman of the presidential committee on fiscal policy and tax reforms, as Minister of State for Finance.
News
Tinubu appoints Lamido Yuguda as CBN’s Deputy Governor
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
PRESIDENT Bola Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN)
The appointment is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007.
This was disclosed on Wednesday by the presidential spokesman, Bayo Onanuga.
The President charges Yuguda to discharge his responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth.
Lamido Yuguda’s last public post was as director-general of the Securities and Exchange Commission, a position he held from 2020 to 2024.
He is an alumnus of Ahmadu Bello University, where he graduated in 1983 with a B.Sc. in Accountancy.
In 1991, he obtained a master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a CFA charterholder.
He began his career in 1984 at the Central Bank of Nigeria (CBN) as a Senior Supervisor in the Foreign Operations Department.
He also worked as an economist in the Africa Department of the International Monetary Fund from 1997 to 2001, when he returned to the CBN.
He retired from the CBN in 2016, after he had served as Director of the Reserve Management Department for six years.
News
JUST IN: IGP Disu Assigns Portfolios to New DIGs
DIG Zachariah Fera Achinyan has been deployed to Legal Services, DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
The Inspector-General of Police (IGP) Olatunji Disu has assigned the new Deputy Inspectors -General of Police (DIGs) their duties responsibilities.
Sources said that the DIGs were assigned departments based on their areas of competence.
DIG Zachariah Fera Achinyan has been deployed to Legal Services,
DIG Zango Ibrahim Baba to Research and Planning, and DIG Isyaku Mohammed to Training and Development departments.
Similarly, DIG Margaret Agebe Ochalla has been posted to the Force Criminal Investigation Department (FCID);
DIG Mohammed Abdul Sulaiman to Finance and Accounts; DIG Kenechukwu Onwuemelie will oversee the Force Intelligence Department (FID); DIG Fayoade Adegoke will head Information and Communication Technology, while DIG Umar Shehu Nadada has been posted to Operations departments.
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