A destroyed refinery By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks. Also, the company said 63 illegal pipeline connections were uncovered during the the weeks . The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge. According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation. It further said that two large boats, which involve
By Favour Ifeoluwa & Akinola Ajibade
The Federal Government will continue to subsidize electricity tariffs, until the time that its convinced of incremental power supply in Nigeria, the Minister of Power, Adebayo Adelabu, has said.
He spoke during a parley with the Power Correspondents in Abuja..
According to him, tariffs would have been increased months back, had it been that President Ahmed Bola Tinubu did approved the increment.
He said that the time is not yet ripe for the implementation of cost reflective tariffs in Nigeria, adding that he does not believe that privatization of the power sector assets infrastructures was the way to go.
He declared that commercialisation could have been better as the required huge financial investment outlay which the private sector may be afford, or may not be willing to commit because its long term returns yields.
The government, Adelabu said, may need to review the structures of DisCos with regards to streamlining the areas of coverages which the Minister observed are too large for each of the DisCos to manage effectively.
He said he took time to study the sector with a view to finding out why his predecessors who brilliant in all sense, failed short of delivering to the expectations of Nigerian.
According to him, previous Minister’s of power did not actualize their plans of improving power situations of the country because they approached the issues of solving the power problem from top to down, stressing that in his tenure the reverse would be the case as he intends to tackle it from down to top.
He described as shameful the fact that Nigeria has stagnated around 4000MW generation over the last years, and disclosed that plans have been concluded to organize a Power Sector Retreat between 12th and 14th December 2023, which shall produce a workable Roadmap for the sector.
He said that Nigeria generate upward of about 50,000MW of electricity, but 95 percent of it is through combined diesel and petrol home generators, adding that the people would not have problem with tariffs increase so long as there is incremental power supply.
He implored states to take advantage of the reformed power sector Act and invest in distribution companies within their states, utilizing existing power lines instead of creating entirely new power infrastructures.
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