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
By Favour & Akinola Ajibade
Nigeria will experience fosssil fuel dominance in the foreseeable future, the Nigerian National Petroleum Company Limited NNPCL's Group Managing Director, Mr Mele Kolo Kyari, has said.
He said the country is not transiting from hydrocarbon to zero carbon fuels, adding that Nigeria will rely on gas as it transition fuel.
This is coming against the backdrop that Nigeria has set its own energy transition timetable in line with United Nations Programme.
He spoke during this year Society of Petroleum Engineers International Conference( NAICE 2023 in Lagos.
The conference had the theme: Balancing Energy Açcessbility, Affordability and Sustainability: Strategic Options For Africa.
According to him, Nigeria has huge reserves of 209.5 Trillion Cubit Feet( TCF) and potential upsurge of 600CBT, stressing that the country's gas reserves are enormous to drive its cleaner and affordable energy visions.
He said African countries, including Nigeria grapple with strategies of balancing energy availability, with meeting United Nations Sustainable Development Goals
Energy Açcessbility, Kyari said, in the localities or regions of the people, is a problem in Africa and Nigeria.
He further said that NNPCL aims at sustainable aggressive gas development plans, adding that building a energy future, which would benefit upcoming generation is the goal of the national oil company.
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