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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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March 2023: Nigeria's inflation of 22.04% may move up further if.....



By Favour & Akinola Ajibade


Nigeria may not achieve its economic growth plans soon, in the event that the country's rate of  inflation increases further from 22.04 per cent unchecked. 

The National Bureau of Statistics( NBS), released 22.04% for the month of March this year.

This happens, as the country suffered  increase in inflationary rate on twelve occasions in recent times and may experience more growth in IR in the event that the Federal Government is unable to check it. 

Last weekend, the Bureau announced that the rate of inflation has increased from 21.91 percent in February to 20.04 per cent in March, a development, which might have informed the decision of apex banking regulatory authorities to try to halt by mopping up more funds from circulation, northwithstanding the consequences on average Nigerians, who are yet to come out of the problems provoked by the introduction and implementation of cashless policies in the country.

Records showed that the  country’s inflation rate has now risen three times in a row since the first quarter of  2023. 

For instance, March inflation data shows a 0.13 per cent increase from the 21.91 per cent recorded in February 2023.

Year on year, the country’s inflation rate increased by 6.13 per cent from 15.92 percent in March 2022.

“On a month-on-month basis, the all-items index in March 2023 was 1.86 percent, which was 0.15 per cent points higher than the rate recorded in February 2023 (1.71 percent),” the report added.

The NBS statistics also showed that the rate of food inflation in March increased to 2.07 per cent , 0.16 per cent more than the 1.90 per cent reported in February.

The country’s inflation rate has now risen three times in a row since the beginning of the year.

March inflation data shows a 0.13 per cent increase from the 21.91 per cent recorded in February 2023.

Year on year, the country’s inflation rate increased by 6.13 per cent from 15.92 percent in March 2022.

“On a month-on-month basis, the all-items index in March 2023 was 1.86 percent, which was 0.15 per cent points higher than the rate recorded in February 2023 (1.71 percent),” the report added.

The NBS statistics also showed that the rate of food inflation in March increased to 2.07 per cent , 0.16 per cent more than the 1.90 per cent reported in February.

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