News
Just in: Kaduna Electric disconnects govt house over N2.9bn electricity debt
By Kayode Sanni-Arewa
The Kaduna Electricity Distribution Company (KEDCO) has disconnected the Kaduna Government House over N2.9 billion debt.
The company in a statement signed by the Head, Corporation Communication, Abdulazeez Abdullahi, said the government house had not paid for electricity consumed in seven months.
Recall that in the early hours of Friday, the state government through its tax agency, the Kaduna State Internal Revenue Service (KADIRS) sealed the electricity coy over N600 million tax liabilities.
But Abdullahi said the disconnection took effect after extensive efforts to resolve the issue through consultations and reconciliations.
According to the statement, “In a dramatic move that underscores growing tensions between utility providers and state governments, Kaduna Electric has cut off electricity supply to the Kaduna State Government House and other state government accounts due to unpaid bills.
“Kaduna Electric announced the disconnection after extensive efforts to resolve the issue through consultations and reconciliations. The outstanding balance for electricity consumed from January 2024 to July 2024 alone amounts to a staggering N1,166 billion. This figure, including the historical debt, has left the State Government with a huge debt that currently stands at a total of N2,943 billion.”
He said despite a recent payment of N256 million made on May 9, 2024, for electricity consumed between September 2023 and December 2023, the Kaduna State Government’s debt remains significantly high, “This payment, though substantial, has not been enough to clear the accumulated arrears.”
“Kaduna Electric’s decision to disconnect power came after repeated attempts to address the payment issues, including several consultations with state officials. In contrast, other states under the Kaduna Electric franchise, namely Sokoto, Kebbi, and Zamfara, have maintained their accounts in good standing, regularly meeting their electricity payment obligations and other repayment obligations with Kaduna Electric.
“A disconnection notice was formally issued on July 21, 2024, and was received by the Office of the Governor on July 22, 2024. The move reflects the company’s need to meet its own financial obligations amidst the broader challenges facing the electricity sector,” he added.
He emphasized that the disconnection was a last resort after all other avenues for resolving the payment issue had been exhausted, noting that the company is now focusing on fulfilling its commitments to the electricity market and ensuring stability in its operations and sustainability as a company.
He disclosed that the Nigerian Electricity Regulatory Commission (NERC) had previously intervened in the Disco by installing an Administrator and Special Board to oversee the company during its transitional period prior to an official takeover by the current investors where the Administrator of Kaduna Electric had committed to an agreement with the Kaduna Inland Revenue Service to pay N20 million monthly including statutory monthly tax payments as required, which he said has been honored since takeover by the current Management.
He highlighted the urgent need for improved financial management and timely payments by government entities to avoid disruptions in essential services saying, “The public and stakeholders await further developments on how the Kaduna State Government will address the arrears and restore power to the affected government offices.”
News
FEC approves ₦47.9tn 2025 budget
By Kayode Sanni-Arewa
The Federal Executive Council, FEC, has approved a proposed national budget of ₦47.9 trillion for the 2025 fiscal year.
Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this on Thursday while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu.
This was part of the Medium-Term Expenditures Framework, MTEF, for 2025 to 2027 and in line with the Fiscal Responsibility Act of 2007.
“And equally, the fiscal objectives were conservative, because we want to ensure that we study the course much as we believe the projections will be exceeded.
“The budget size that was approved for presentation to the National Assembly in the MTEP is ₦47.9 trillion, with new borrowings of ₦9.2 trillion to finance the budget deficit in 2025,” Bagudu said.
“We need to sustain the market deregulation, commendable market deregulation of petroleum prices and exchange rate, and to compel the Nigerian National Petroleum Corporation Limited to lower its oil and gas production cost significantly, and even to consider the need to amend the relevant sections of the petroleum industry act 2021 to address the significant risk to Federation.
“The Federal Executive Council approved the Medium Term Expenditure Framework and the physical strategy paper, and it will be submitted to the National Assembly.
“This is in addition to bills that are already at the National Assembly, the economic stabilization bills and tax reform bills, which we believe we will have a very, very strong growth in 2025.”
During the meeting, the FEC approved its submission to the National Assembly as required by the 2007 Fiscal Responsibility Act.
The framework projected a gross domestic product (GDP) growth rate of 4.6 percent, an exchange rate of $75 to the naira, and oil production of 2.06 million barrels per day. [Channels TV]
News
Nigeria to get 6,000 power generation by December-Power Minister vows
By Kayode Sanni-Arewa
The Minister of Power, Adebayo Adelabu, has expressed his unwavering optimism that the government will successfully meet its ambitious target of generating 6,000 megawatts of electricity by December 2024, despite the numerous challenges currently affecting the power sector.
The Special Adviser on Strategic Communication and Media Relations, Bolaji Tunji, conveyed this assurance at the fourth edition of the Power Correspondents Association of Nigeria’s annual workshop, themed “Ending the Talk, Moving the Action,” held on Thursday in Abuja.
Nigeria’s power generation currently ranges between 3,500 and 4,000 MW for a population of approximately 200 million people. For instance, on Thursday, the country’s power generation was 3,556.38 MW as of 8 am.
Earlier this year, Adelabu pledged that power generation in Nigeria would reach 6,000 MW by the end of the year, citing improvements in the sector over the past year.
However, the frequent collapse of the nation’s electricity grid and the vandalisation of towers have raised concerns about the stability of the Nigerian Electricity Supply Industry and its ability to achieve the target.
In his goodwill address, the Special Adviser emphasised that the minister’s primary focus remains on achieving the goal of increasing generation and ensuring its efficient distribution to consumers.
Tunji said, “The minister aims to achieve what seems to be an intractable goal—improving generation and ensuring that what is generated reaches the final consumers. There are challenges, but they are surmountable.
“The minister has promised that by December this year, we will reach 6,000 megawatts; yes, we still hope to get there.
“We are confident that we will get there, but we are aware of the current issues with grid collapse. Efforts are being made to resolve these problems. Day and night, teams are being dispatched to address the various issues, and we remain hopeful that we will achieve the 6,000 MW target by December.”
The Director of Renewable Energy, Sunday Owolabi, also reiterated that the government is committed to ensuring 24-hour power supply for Nigerians.
Owolabi, another representative of the minister, stressed that the government’s policies are focused on resolving the challenges facing the country’s electricity transmission, distribution, and generation sub-sectors.
“We are fully committed to transforming the country’s power sector. We are focused on ensuring that our policies are practical and sustainable. We are resolute in ensuring power supply for every Nigerian.
“The government remains fully committed to transforming Nigeria’s power sector through meaningful and actionable reforms.
“We are focused on ensuring that our policies are not only visionary but also practical, impactful, and sustainable. From the ongoing efforts to address infrastructure gaps, enhance power generation, and improve transmission networks, to vital reforms in distribution and the full implementation of the electricity market, we are resolute in our mission to improve power supply for every Nigerian.”
News
Just in: Wike sends FCDA Executive Director on indefinite suspension
By Kayode Sanni-Arewa
Minister of the Federal Capital Territory, Nyesom Wike has suspended the Executive Secretary, Federal Capital Development Authority (FCDA), Engr. Shehu Hadi Ahmad indefinitely.
According to a statement on Thursday, by Lere Olayinka, Senior Special Assistant on Public Communications and New Media to the Minister of Federal Capital Territory (FCT), the suspension of Engr Hadi Ahmad is with immediate effect.
The suspended Executive Secretary has consequently been directed to hand over to the Director of Engineering Services, in the FCDA.
Meanwhile, Nyesom Wike has revealed that President Bola Tinubu ordered the construction of houses for judges in Abuja.
The former Rivers State governor said the project is part of the government’s plan to provide secure housing for judges and strengthen the judiciary’s independence.
Speaking during a media chat on Wednesday, the former Rivers Governor clarified that the housing project is not his personal initiative.
Wike explained that the housing scheme was included in the 2024 budget, approved by the National Assembly, and is not his personal decision.
He added that judges currently live in rented homes, which could make them vulnerable.
He compared this to similar projects he carried out as Rivers State governor and expressed surprise at the criticism, especially from legal professionals.
Wike insisted the project is lawful and should be welcomed as a step in the right direction.
-
News18 hours ago
Trump picks ex-Democrat Tulsi Gabbard as US Intel Chief
-
News18 hours ago
NNPC Carries Out Leadership Shakeup, Appoints Adedapo Segun As New CFO
-
News18 hours ago
JUST IN: Govt Declares Friday As Public Holiday
-
News17 hours ago
Umahi Frowns At Slow Pace Of Suleja-Minna Road Construction
-
News18 hours ago
Abia Assembly orders Deputy Governor, Emetu to apologise over assault on House member
-
News18 hours ago
NYSC announces date for ‘2024 Batch C’ registration
-
News18 hours ago
NNPC, Dangote Sign GSPA Agreement To Boost Local Production, Revamp Industrial Growth
-
News14 hours ago
Mikel Obi explains how Kai Havertz dishonoured Chelsea fans