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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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Senate-NPA: Provide Whereabouts of $1.8bn In 48hrs


Senate 


By Favour Ifeoluwa & Akinola Ajibade

 

Senate Committee on Public Accounts has issued a 48 hours ultimatum to the management of the Nigeria Ports Authority (NPA) to explain how it spend over over $1.8 billion in its purse .

Also, the Senate through the Committee is  threatening to “use all instruments available by law to bring the management of NPA to order if it violates the ultimatum.

Its Chairman on Public Accounts  Ahmed Wadada Aliyu,  recently in Abuja, said that the NPA management has been unable to clarify on the whereabouts of $ 852, 930, 730, $ 1, 878, 509, .57 belonging to the agency.

Berating the Managing Director of the agency over alleged refusal to appear before the panel of the Upper Chamber of the National Assembly, Senator Aliyu bemoaned that a representative who was sent by the NPA to the panel was absent when it was time for the interface.

He said: “Nobody is above the law, or would bf allowed to take the institution of the National Assembly for granted. We are the people’s parliament. We are here on the mandate of the people, and we will not take disrespect from anybody.”

The Committee of the Red Chamber further revealed that the management of the NPA would not furnish details on $ 68 million covering “outstanding estate rents, shipping bills, service boats, among others.

Status of long standing debts and debtors form part of the issues they have to answer to.

Others are Lagos Channel management, Bonny Channel management, Calabar Channel management.”

The panel also interfaced with the National Commission for Colleges of Education, Nigeria Mining Cadastre Office, and Nigeria Customs Service (NCS).


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