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Electricity Tariff Hike Looms As FG Raises Gas Price

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The Federal Government, on Monday, announced that the new price of natural gas for power generation companies is now $2.42 per metric million British thermal unit, higher than the previous rate of $2.18mmbtu.

Nigeria generates over 70 per cent of its electricity from thermal power plants that are fired by gas. Therefore, the rise in the cost of the commodity may lead to a hike in the tariff payable by power consumers once the Nigerian Electricity Regulatory Commission carries out another tariff review.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority, an agency of the Federal Government, unveiled the new domestic base price and wholesale prices of natural gas for 2024 in an announcement on Monday.

The NMDPRA also pegged the cost of commercial gas at $2.92mmbtu, up from the previous cost of $2.5mmbtu. The announcement was signed by the Chief Executive, NMDPRA Farouk Ahmed.

Recall that the Multi-Year Tariff Order released by NERC in January 2024 for the electricity distribution companies was calculated based on the previous price of natural gas.

Therefore, going by the latest cost of the commodity, there is a high tendency for an upward review of power tariffs, as gas is a major component used in power production.

Gas producers including international and domestic oil and gas companies, have repeatedly called for the upward review in the price of the product, stressing that this would be an incentive to ramp up production.

In the announcement on Monday, Ahmed said the Petroleum Industry Act 2021 assented to by the President on August 16, 2021, and gazetted in August 2021, provided a clear regulatory framework for the determination of a market-based pricing regime for the domestic gas market.

The NMDPRA boss further stated that the latest action was taken in line with section 167, the third and fourth schedule of the PIA 2021, which mandated the regulator to determine the Domestic Base Price and the marketable wholesale price of natural gas supplied to the strategic sectors.

He said, “The DBP at the marketable gas delivery point under Sector 167(1) and other provisions of the PIA shall be determined based on regulations which incorporate among such other matters, the following principles.

“(b) The price shall not be higher than the average of similar natural gas prices in major emerging countries that are significant producers of natural gas.

“(c) Lowest cost of gas supply based on three-tier cost of supply framework. (d) Market-related prices tied to international benchmarks.”

The NMDPRA, therefore, emphasised that it had set the “2024 Domestic Base Price at $2.42/MMBTU and wholesale prices for natural gas in strategic sectors, following consultations with stakeholders and in compliance with the PIA and Gas Pricing Regulations.”

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Woman accused of false testimony meets pastor, says no grudge against megachurch

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The woman who was accused of giving false testimony at the Dunamis International Gospel Centre, Abuja, Anyim Vera, has said she has no grudge against the church.

A video that went viral on Sunday showed the church’s Senior Pastor, Paul Enenche, questioning the credibility of the woman’s testimony at his church in Abuja.

The woman, who claimed to have graduated with a “Bsc in Law” from the National Open University of Nigeria, was interrupted by Enenche, who accused her of lying.

He told her she didn’t sound like a Law graduate, going by how she spoke. He also told her that there is nothing like a “Bsc in Law” and demanded that she leave the pulpit.

The video attracted mixed reactions, with many asking that the pastor apologise to the woman.

But Anyim, in a post on her Facebook page on Monday, said she had put the situation behind her.

She made the statement after meeting Enenche and his wife, Becky.

Sharing photos from the meeting, she wrote, “I want to inform the whole world that I just had a warm meeting with my spiritual father and mother, Dr Paul Enenche, and Dr Becky Enenche.

“I don’t have any grudge against the church or them. I remain committed to serving God as a member of Dunamis Church.

“I am thankful for the concern of the public.

“I have put the situation at my back, and I have moved forward, and I want everybody to do the same. Peace.”

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Nigerian Army wins 2024 national shooting competition

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The Nigerian Army has emerged as the champion of the 2024 National Open Shooting competition.

The Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ogalla, sponsored the national open shooting championship.

The Nigerian army won a total of 10 medals in all at the end of the five-day National Championship held at the indoor sports hall of Moshood Abiola Stadium (Package B) in Abuja.

This was disclosed in a release on the Official Twitter Account of the Nigerian Army, @HQNigerianArmy, late Monday night, April 15, 2024

The press release:

The Nigeria Army have emerged champions of the 2024 National Open Shooting Championship sponsored by the Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ogalla.

Nigeria Army won a total of 10 medals consisting of 7 gold, 1 silver and 2 bronze at the end of the five-day National Championship held at the indoor sports hall of Moshood Abiola Stadium (Package B) in Abuja.

The Acting Director of Physical Training, Nigerian Army, Brigadier General Abdulrahim Bello commended the shooters for putting up brilliant displays at the Championship. Brig Gen Bello said the performance of the team has further shown that the Army remains the leading agency in shooting, promising that the Nigerian Army will continue to support the growth of sports.

He said, “The Chief of Army Staff (COAS), Lieutenant General Taoreed Lagbaja will be impressed that the Nigerian Army emerged winners of the National Shooting Championship.

I want to congratulate the shooters who represented the service at the championship because they put a brilliant display against their opponents.

“The Nigeria Army will ensure we continue to give support to our athletes in order to get maximum output. We have loads of sporting activities in the coming months and I want to assure you that the Nigerian Army will not relent in the quest to dominate Nigeria and Africa at large”.

The team Capture/Coach, Major Oluremi Olusegun also appreciate Brigadier General Bello for his consistent support and guidance given to the team.

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Despite Claims Of Subsidy Removal, Tinubu Has Spent Trillions Of Naira Since May 2023 To Subsidise Same Fuel – El-Rufai Blasts President

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Nasir El-Rufai, the immediate past governor of Kaduna State, has stated that the President Bola Tinubu-led administration has been subsidising petrol known as Premium Motor Spirit (PMS) since its inception in May 2023.

He affirmed that the development has so far cost the present administration trillions of naira since inception, adding that if not because of the subsidy payments, the price of petrol per litre could have been much higher than the diesel.

Diesel is currently sold above N1000 depending on the location, compared to PMS which is about N600 to 750 per litre.

El-Rufai made this known while speaking on Monday in Maiduguri, Borno State at the occasion of a Capacity Building Workshop at the International Conference Centre, Musa Usman Secretariat, Maiduguri.

The workshop is meant for Enhancing Skills of Government Officials in Policy Implementation and Productive Human Management Resources for honourable Commissioners, Chief Advisers and Special Advisers, Senior Technical Advisers, to Governor Babagana Zulum, Heads or Chief Executives of Agencies and Departments, Tertiary Institutions and local government Chairmen.

El-Rufai said, “A good leader must be decisive and have the ability to make good decisions, trustworthy, empower others irrespective of political, religious or ethnic considerations, have clear communication skills and resilient in all ramifications.

“Though it is too early to judge the present administration, it is just been there for only nine (9) months, and you know leadership is work in progress, you start something as I said in my speech, you start a policy because you are absolutely sure is the right policy, but in the course of implementation, if you see bottlenecks, you modify, because the key word in leadership in my view is not ideology or anything, is pragmatism.

“You should always be pragmatic. You are not God, only God is perfect, so as a good leader, when you make a policy and you started implementing, and it doesn’t seem to work well, you should have the humility to stand back and said, this is not working.

“For example, if you appoint a person to a position and he is not performing to expectation, you should have the humility to say look, I need a better person to do the job perfectly. Leadership is a continuous thing and in a term of four years, you can’t assess a government of nine months.

“But as I also said earlier during my presentation, the removal of fuel subsidy by the present administration is another good policy by President Tinubu. I have always supported withdrawal of fuel subsidy.

But as you can see, in the course of implementation, the government has now realised that the subsidy has to be back, because right now, we are paying a lot of money amounting to trillions of naira for subsidy even more than before, because the impact has been seen and the packages of support that will reduce the impact have not been effective in reducing the impact, and so, the federal government has to backpedal by subsidising petrol. Many people don’t know this.”

“If they want to know whether there is fuel subsidy or not, they should compare the prices of petrol and diesel per litre. This is because, under normal circumstances, petrol is supposed to be more expensive than diesel. As it is, diesel is above N1000, while petrol stood at about N600 per litre. So we are still subsidising for fuel in Nigeria.” He stated.

 

 

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