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Benin, Togo owe Nigeria $5.7m electricity debt — NERC

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International bilateral electricity customers in Benin Republic and Togo owe Nigeria $5.79m for the energy consumed in the second quarter of 2024.

The Nigerian Electricity Regulatory Commission revealed this in their latest second-quarter 2024 report analysed by our correspondent on Sunday.

Out of the $15.60m invoice issued by the market operator between April and June, the international customers remitted $9.81m.

The foreign companies off-taking power from Nigeria are Para-SBEE in Benin Republic ($1.23m), Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo ($1.09m), and Odukpani-CEET in Togo ($3.47m).

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Para-SBEE in Benin Republic remitted 71.21 per cent of the $4.29m billed, Transcorp-SBEE in Benin remitted 100 per cent of the $4.25m it was billed; Mainstream-NIGELEC in Togo paid 69.72 of $3.59m, and Odukpani-CEET did not remit anything during the period.

In the first quarter, The PUNCH reported that none of the four international bilateral customers being supplied by the power generation companies made payments against the cumulative invoice of $14.19m issued by the market operator for services rendered.

In the Q2 report, it was noted that some bilateral customers (both domestic and international customers) made payments for outstanding invoices from previous quarters.

“Cumulatively, the international bilateral customers paid a total of $16.65m; Transcorp-SBEE and Mainstream-NIGELEC have made payments towards all outstanding invoices from previous quarters,” the report disclosed.

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It added, “The four international bilateral customers being supplied by Gencos in the NESI made a payment of $9.81m against the cumulative invoice of $15.60m issued by the MO for services rendered in 2024/Q2, translating to a remittance performance of 62.88 per cent.”

The NERC noted that the domestic bilateral customers made a payment of N1.30bn against the cumulative invoice of N1.99bn issued to them by the MO for services rendered in 2024/Q2 translating to 65.07 per cent remittance performance.

The market operator received N1.30bn from domestic bilateral customers towards outstanding invoices from previous quarters.

Mainstream Energy Solutions was said to have made payments towards all outstanding invoices from previous quarters.

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On electricity subsidy, it was disclosed that between 2024/Q1 and 2024/Q2, the Federal Government’s subsidy obligation was reduced by N253.24bn from N633.30bn (90.57 per cent of the total Genco invoice) to N380.06bn (52.51 per cent of the total Genco invoice).

“The significant decrease in the subsidy obligation of the Federal Government is a result of the policy directive of the government to implement reviews of tariffs charged to Band A customers while the tariffs for Band B-E customers remain frozen at the rates payable since December 2022,” it was explained.

The commission revealed that the total revenue collected by all Discos in 2024/Q2 was N431.16bn out of the N543.64bn that was billed to customers. This translates to a collection efficiency of 79.31 per cent.

In comparison, the total revenue collected by all Discos in 2024/Q1 was N291.62bn out of the N368.65bn billed to customers which translated to a 79.11 per cent collection efficiency. The 79.31 per cent collection efficiency recorded in 2024/Q2 is 0.20pp higher than the collection efficiency recorded in 2024/Q1.

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Ikeja and Eko Discos reportedly recorded the highest collection efficiencies of 94.67 per cent and 88.03 per cent respectively. Conversely, Yola Disco recorded the lowest collection efficiency of 55.67 per cent.

Credit: PUNCH

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Just in: Final knockout for Fubara as Supreme Court refuses to grant stay of execution request

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It is final blow as he Supreme Court today, denied Fubara Stay of Execution asking the counsels to the Rivers state Government to obey the Apoeal Court judgment while their Appeal are been heard.

Fubara and his 3 Lawmakers may have to kiss the dust with this latest development.

Information reaching me Sat’s INEC will this week announce dates for Bye election into the vacant seats.

More details shortly…

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University Don Tells FG To Sanction NUPENG President, General Secretary Over Failure To Curtail Tanker Fire Fatalities*

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By Kayode Sanni-Arewa

Victims of Wednesday’s inferno in Jigawa State where over 100 people were burnt to death have received sympathy from an American based Professor of Humanity who called on the Federal government to sanction the leadership of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) over failure to curtail incessant deaths arising from tanker-related accidents across the country.

Professor Josephine T. Abubakar from University of Maryland, United States also commiserated with the families who lost loved ones in the tragic incident and prayed that God grant them the fortitude to bear the loss.

In a statement she made available to newsmen on Wednesday, October 16, 2024 she said Nigerian ministry of petroleum resources in collaboration with the National Petroleum Corporation Limited (NNPCL) need to activate Safe-To-Load Initiative to mitigate incessant petroleum products tanker accidents and ensuing fire outbreaks in Nigeria.

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The University don said, “It is highly irresponsible of an oil Union like NUPENG, especially its General Secretary, Afolabi Olawale for not reacting officially to a national tragedy caused by one of the branches of its union, PTD in particular. This is horrible and unbelievable, over 100 lives met their untimely death. NUPENG should not only be seen collecting multiple levies and dues from Tanker Drivers, but should be seen putting adequate safety measures in place to avoid fatalities like the one the country witnessed on Wednesday.

“The deaths was a colossal loss for Nigeria, and what made it more worrisome and heart-rending was that it could be avoided but NUPENG and PTD have failed in their responsibilities, rather they concentrate on bickering over leadership tussle, legal fireworks and other ventures that can bring pecuniary gains for them at the expense of their defenseless members. It’s a shame that Augustine Egbon, a stooge in PTD who was hand-picked to be the National Chairman has also been silent about this recent calamity. NUPENG has outrightly failed Nigeria to say the least.

“However, this is the best time for the Nigerian government to look into the activities of NUPENG and PTD so that public safety and security will no longer be put into jeopardy. Nigeria has lost many lives as a result of negligence, weak and incompetent leadership in NUPENG and PTD who cannot even fix its internal crisis but disgracing themselves on the pages of newspapers and the internet on a daily basis.

“The call also goes to Nigerian ministry of petroleum resources to collaborate with the National Petroleum Corporation Limited (NNPCL) so as to activate Safe-To-Load Initiative to mitigate incessant petroleum products tanker accidents and ensuing fire outbreaks in Nigeria.

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“PTD used to be known for operational excellence and robust safety checklist for loading of petroleum products at terminals, retail outlets and depots but since Afolabi came to the saddle as General Secretary, the Union has been in tatters. Government must overhaul NUPENG and PTD, if need be, Afolabi and the President should be sacked while the DSS can take over the affairs of the union, until a proper election is conducted. There is nothing new, this has happened in NUPENG before”, she said.

The professor further appealed to Tinubu led government to be committed in ensuring safe roads for petroleum products distribution in the country and as well continue to create laudable interventions that can cushion the hardships faced by tanker drivers in their task of distributing products across the country, while also stressing that law enforcement agencies must as well show cooperation, support and provide security/succor for the hardworking tanker drivers.

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Impeachment Plot: Akpabio Cautions Nigerians To Disregard Media Report

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By Gloria Ikibah

The President of the Senate, Senator Godswill Akpabio, has admonished Nigerians to disregard stories of his planned impeachment, even as he described it as an illusion.

Naijablitznews.com recalled that an online publication, (Name withheld on Wednesday,  published a story titled “DSS Takes Over National Assembly Amid Impeachment Speculations Against Senate President Akpabio”, which has since been republished by other media outlets.

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The Special Adviser on Media and Publicity to the President of Senate, Hon. Eseme Eyiboh in a statement on Wednesday said the report was a figment of the reporters imagination.

He said: “Distinguished Senator Godswill Akpabio, President of the Senate of the Federal Republic of Nigeria, wishes to state without equivocation that the speculation and misinformation circulating about an alleged impeachment plot against him is the handiwork of fifth columnists who are perpetual merchants of misinformation and purveyors of mischief.

“As a Head of one of the Arms of government, the President of the Senate categorically denies these baseless claims and reaffirms his commitment to transformational leadership of the Senate particularly and effectively collaborates with the other arms of government. There is no crack in the Upper Chamber and no Senator or Caucus is plotting any impeachment against the President of the Senate. Every Senator is focused on raising the bar of Legislative Agenda and Nation building.

“The allegations are nothing but a desperate attempt to create division and discord among the esteemed senators. It’s unfortunate that some individuals would resort to spreading falsehoods to promote the invidious reins of their blackmail enterprise.

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“Senator Godswill Akpabio remains focused on the implementation of the 10th Senate’s Legislative Agenda and working tirelessly to address the pressing National issues of growth and prosperity.

“The Senate President will not be distracted by these unfounded rumours and wants to assure the public that his commitment to Nigeria’s progress remains unwavering.

“We therefore urge the public to disregard these baseless claims and instead focus on the meaningful work being done by the Senate to improve the lives of all Nigerians”.

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