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FG- Imo: :Regulatory Oversight of The State Electricity Market Is Now Underr ISERC

By Favour Ifeoluwa & Akinola Ajibade  The Federal Government yesterday( Monday) announced the transfer of Regulatory Oversight of the Electricity Market in Imo State to the state electricity regulatory commission, otherwise known as (ISERC). In a statement issued by the Nigerian Electricity Regulatory Common( NERC), the development is in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), reiterating that all transfers envisaged by this order shall be completed by 31 December 2024. According to the Commission,the transfer Order’s provisions include: “Direct Enugu Electricity Distribution Company (EEDC) to incorporate a subsidiary (EEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Imo State from EEDC, and that EEDC shall complete the incorporation of EEDC SubCo within 60 days from 27th June 2024. The subcompany shall apply for and obtain licence for the in
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'Ajaokuta will generate N800b in 10 years ' says expert






By Akinola Ajibade


Ajaokuta Steel Company  will generate N809.56 billion in 10 years, if it given N701billion as capital to reactivate it, a fellow of Nigerian Society of Engineers (NSE),Dr. Otis Anyaeji has said.

Averagely N80 billion profit will be generated in a year, a development, which translates to N800 billion in 10 years.

Onyeaji said this in a presentation during the October 28, lecture titled: ‘Advocacy and Activism in our Engineering DNA’

A combination of public and private sector funds should be considered for adoption, probably on a 30:70 ratio in order to raise the needed fund,he said.

“This is very crucial, being another significant and consistent effort by the Nigerian Society of Engineers to further argue for ways of adding value to local resources and thereby create jobs at this difficult periodIn doing this, the investments on ground at Ajaokuta would be taken into due consideration on the public side. In other words, the real cash injection by the government may not actually be more than N100 billion at the end of the day in cash,” he added.

President of NSE, Tasiu Gidari-Wudil,in his earlier remarks bemoaned the rejection of engineering practitioners in Nigeria, wondering why a non-engineer should occupy a position meant for engineers.

“We find out that engineers have been neglected in the affairs of this country. You have Minister of Communications who is very close to engineering but he is not an engineer. But why can’t you bring in somebody who is from that field who will be able to deliver.

“So let there be a round peg in a round hole. Let the government understand that everything about governance and politics centre on infrastructural development. You cannot get infrastructural development by neglecting engineers.If we want this country infrastructurally, we just have to get the right people. So, the engineers must be involved. Other technologies must be involved,” he said.

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