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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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NNPC, Marketers have enough fuel, says NMADPRA's Chief, Ahmed




By Favour Ajibade


Nigeria has enough fuel to sell, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Chief Executive officer, Mr Farouk Ahmed has said. 

This is coming on the heels of the on-going scarcity of petroleum products in the country.

He urged Nigerians not to engage in panic buying of petrol, as the country has enough fuel in stock.

According to him,the Major Oil Marketers Association of Nigeria (MOMAN) and Nigeria National Petroleum Company Ltd. (NNPC) have enough fuel in stock, advising Nigerians not to entertain fears over the issue.

He added:“l spoke with the MOMAN’S Executive Secretary this morning and he told me they have sufficient stock.I have directed them to start evacuating the product immediately to filling stations.

“NNPC has also confirmed sufficiency and they have commenced evacuation.From now till tomorrow the situation will be back to normal.I don’t know what is happening but we are on top of the situation”.

He assured that there was enough fuel and, therefore, appealed to members of the public to avoid panic buying as all efforts were being made to resolve shortage in some filling stations in Lagos and its environs.

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