Skip to main content

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
Post a Comment

Port Harcourt Refinery Will Resume Operation, this December, Says Tinubu

Tinubi with Labour Leaders 

By Favour & Akinola Ajibade


Nigeria will heave a sign of relief by this December end, when the Port Harcourt Refinery resume operation, President Bola Ahmed Tinubu has said. 

This refinery, which boast of 150,000 barrels per day (bpd) capacity, will start production by December in the next five months, pricisely December 2023, after the completion of the ongoing rehabilitation contract between NNPCL and Italian firm, Maire Tecnimont SpA.

He said this yesterday during a meeting with the leadership of the Nigeria Labour Congress (NLC) in Abuja.

The meeting ended in success, as the labour suspended its plans to embark on strike.

News Mirror, the President’s statement aligned with the promise made by Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPCL), that the Port Harcourt refinery will start production by December 2023, two years after the Federal Executive Council approved $1.5 billion for the rehabilitation of the refineries.

.
In a statement by Dele Alake, Special Adviser to the President (Special Duties, Communications & Strategy), Tinubu and the organized labour resolved to stop further protests after a fruitful and frank discussion.

The resolution was based on the labour leadership’s confidence in Tinubu’s ability to encourage open and honest consideration of all the issues put forward by the Labour Movement.

Alake further emphasized that President Tinubu has assured the Labour leaders that he would continue to work for the best interest of Nigeria while pleading with the Labour leaders to join hands with him to birth a better and economically buoyant country.

Ajaero and Osifo, Presidents of NLC and TUC, in a statement released following the meeting with President Tinubu highlighted the success of the protest on Wednesday, which led to a closed-door meeting between President Tinubu and the leadership of the NLC and TUC.

The labour leaders said that during the meeting, several important commitments were made by President Tinubu, including an immediate restructuring of the framework for engagement in line with the input of the labor leaders, the assurance that the Port Harcourt Refinery will commence production by December this year, the pledge to reach an agreement on the Wage Award for Nigerian workers immediately, and the promise to unveil a workable roadmap to the CNG alternative next week.

Ajaero and Usifo both said, “In the strength of the President’s pledge and commitment, we have decided for a return to a new and reinvigorated dialogue process to allow for full implementation. Once again, we thank Nigerians while we wait for the Government to fulfill its own part of the understanding as agreed with the President.”

Comments

Post a Comment

Popular posts from this blog

HAPPY 70 TO ELDER ADE ADEDAMOLA OGIDAN

PLATINUM BIRTHDAY ANNIVERSARY OF ELDER ADE ADEDAMOLA OGIDAN, A FOREMOST JOURNALIST & EDITOR By Favour Ifeoluwa & Akinola Ajibade Like a new born child, beaming with smiles for coming out of his mother's womb in order to live a fulfiled life, the celebrator,Ade Ogidan fits perfectly well into this category. Simply known as AAO, a shorten form of Ade Adedamola Ogidan, the thorough based journalist is without doubt, a  well grounded newsman.. With Bachelor of Science ( BSC) Degree in   Sociology and Anthropology( 1976 ) from University of Nigeria, Nsukka,  Ogidan has cut his teeth well in Journalism. Prior to this, he  taught in Osogbo Grammar School and worked at the Nigerian Communication respectively  after his youth service, a development, which no doubt prepared  him well for journalism profession and other future engagements. Pragmatic, resilient and outspoken, where it matters, Ogidan ensured  that his tenure as the first Chairman of Pineapple Estate, Ikorod
1 comment
Read more

NNPC Completes Mechanical Rehabilitation of Port Harcourt Refinery Plant

By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company (NNPC) Limited, says that it has mechanically completed the rehabilitation of Area 5 Plant of the Port Harcourt Refining Company (PHRC). The nation's oil company began rehabilitation of the refinery two years ago, while at the same time, promised to complete its by 31st December 2023. The Group Chief Executive Officer, NNPC Ltd., Mr. Mele Kyari, said as of December 15th, 2023, 84.4% of Area 5 Plant, a key component of the Refinery, and 77.4% of the entire rehabilitation project have been completed. “In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments,” Kyari stated. The GCEO commended NNPC's staff and the EPCIC contractors for doing a g
Post a Comment
Read more

Fed Govt Commences New VAT Sept 1

By Favour & Akinola Ajibade Buoyed by the resolve to deepen the country's revenue base and further and further speed up implementation of capital projects in Nigeria, the  Federal Government will in the next six days, precisely September 1, this year, starts collecting the  new Value Added Tax( VAT).  The government is achieving  this goal through the Federal Inland Revenue Service(FIRS).  FIRS, in a statement,  said subject to the Finance Act 2023, VAT withheld or collected, VAT on items excluded from building, the new Tertiary Education Tax rate of 3 per cent and Investment Allowances and Convertible Currencies will become effective September 1, 2023. Certain amended provisions of the Finance Act 2023 were enacted on 28th May, 2023 with the effective date of 1st May 2023. However, the effective date was changed to 1st September 2023. Some of the amended Sections are 14 (3) which deals on VAT Withheld or Collected. The VAT Act was amended to the effect that persons
Post a Comment
Read more