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NNPC destroys 134 Illegal Refineries Recently

A destroyed refinery  By Favour Ifeoluwa & Akinola Ajibade  The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks.  Also, the company said  63 illegal pipeline connections were uncovered during the the weeks .  The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge.  According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation.  It further said that two large boats, which involve
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Tarrifs Adjustment: Nigerians may pay more electricity bills as from July, this year


By Akinola Ajibade

Consumers are likely going to pay more for energy,  as from second quarter of 2022, if the decision of the Nigerian Electricity Regulatory Commission (NERC) to review the tarrifs again go according to plans. 

The regulatory body had few months ago, carried out an upward review of the electricity tarrifs, in order to reflect its cost of production and consumption in the country. 

In a memo marked: “Notice Of Compliance in Respect of the Biannual Review of the Revenue Requirements of Licensees and made available to News Mirror, the power sector regulator said that the adjustment will cover among others, changes in relevant macroeconomic indices..

The statement reads: “Pursuant to the provisions of the Electric Power Sector Reform Act (EPSRA), NERC adopted the Multi-Year Tariff Order (MYTO) methodology in setting out the basis and procedures for determination of licensees’ revenue requirements and review of electricity tariffs in Nigeria. The body also explained that the methodology provides for minor reviews (every six months), major reviews (every five years), and extraordinary reviews in instances where industry parameters have changed significantly from those used in the operating tariffs.

“This it said is to such an extent that a review is required urgently to maintain the viability of the electricity industry.”

Continuing further, NERC in a separate orders  issued to the 11 Discos, noted that the “minor” hike in tariffs was to compensate for market fundamentals outside the control of the electricity distributors.

Its Chairman, Mr Sanusi Garba, in his reactions to the issue, explained that there were no new hikes, apart from the review approved in December, maintaining that the bi-annual review was to take care of inflation, foreign exchange, and generation volume among others and insisting that it is part of MYTO. 

Recall that NERC recently released documents approving tarrif increases for Distribution Companies ( DisCos) about four months after the implementation of the new rates commenced.

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