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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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Queues disappear in Abuja, others as NNPC delivers 67m litres of PMS

 An outlet without queue in Abuja


By Favour Ajibade


Queues have disappeared at filling stations within and outside Abuja, as the Nigeria's Federal Capital Territory ( FCT) as the Nigerian National Petroleum Company Limited( NNPCL) supplied 67 million litres of fuel to marketers in the area.

States such as Niger, Kogi, Kebi, etc have heaved a sigh of relief as NNPC pumped fuel to marketers in those places.

The affected marketers include Nipco, NNPC, Salbas ,and a few others on the busy Kubwa-Zuba Expressway, which are dispensing products to motorists seamlessly. However,  this was not the case on Tuesday and other days.

Also, outlets in Nyanya, Nasarawa State, and Zuba, Niger State, sold products to motorists and had no queues on Wednesday, contrary to what obtained the preceding day, where there were very limited filling stations in operation.

Virtually all the major filling stations that used to have heavy queues before were seen without queues on Wednesday, as most of them dispensed petrol to the cars sighted in their various outlets.

The Group Chief Executive Officer (GCEO) of NNPC, Mallam Mele Kyari, pointed out that fuel supply data for Nigeria to stakeholders that “Anytime we go down below 60 million litres of evacuation consistently for more than three days, we’ll have a crisis across the country.”

Kyari stated further, “We know that there may be no valid so-called consumption figure, but we know the evacuation figure. Anytime the evacuation figure goes below 60 million litres daily, you’ll have a crisis.

“Remember, early in 2022, when we had the contaminated fuel, evacuation came down to 56 million litres on average, and we had a crisis. We managed to ramp up by adding volumes to the market to fill the gaps. So we achieved normalcy.

“I recollect, in October, when the flooding happened, trucks could not go to their destinations, particularly moving from the South into the North and our evacuation went below 60 million, and you can remember what happened.”

Kyari stated that since then, NNPC had done everything possible to keep the supply or evacuation above 60 million litres consistently, as he argued that there was no shortage of fuel going into the market, rather the products might be in the wrong destination.

“One thing that is also very practical is that Nigeria’s fuel is smuggled to other countries. This is not a secret. But it can only be done by either all of us in this room or people buying from us,” he stated.


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