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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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Tinubu Commends Shell Over Investments In Nigeria

President Tinubu 

By Favour & Akinola Ajibade

President Bola Tinubu, yesterday, Monday commended Shell Petroleum Development Company SPDC for investing massively on the Nigerian economy. 

He spoke in Abuja during the visit of a delegation of the Shell Petroleum Development Company (SPDC) to the State House, Abuja. 

While speaking to a delegation led by the Global Upstream Director, Ms Zoe Yujnovic, the President said that such investments are needed to enable government meet its obligations.

He recalled that he made a personal promise to Nigerians to help improve investments in the industry, adding that Nigeria is ready to promote businesses for growth.

He assured management of Shell and other investors of his government's willingness to  maintain an open-door policy and address their concerns. 

“We are open for business. We are serious. I give you the assurance of consistency in policy,” he added

He also assured that his government was removing all forms of bottlenecks in order to ensure Nigeria becomes an attractive investment destination.

Replying,Ms Yujnock commended what she described as “incredibly strong start” of the Tinubu presidency and expressed optimism that the “bold” steps taken by the government would renew Nigeria’s pride of place as an investment destination.

She said SPDC was willing to ramp up investment in the country especially in the areas of gas and deep-water assets by pumping in billions of dollars.

She also said Nigeria remains a strategic investment country for the company in view of the long history between the two entities and the prospects held by the county’s oil and gas sector.

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