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"Synergy, Commitment Are Key to Global Energy Sustainability, Says Bounour

By Favour Ifeoluwa & Akinola Ajibade  The Chief Executive Officer, Egbin Power Plc, Mr Mohktar Bounour says global transition to cleaner energ and sustainable environment are achievable, as long as there is strong synergy and commitment among stakeholders in the value chain.  He spoke during the maiden edition of  Asharami Square in Lagos. This is an initiative introduced and implemented by the Sahara Group, in order to amplify discourse on energy sustainability through  media advocacy globally. He said: " Having analyzed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and transportation, we are realised that there is need for synergy  and renewed commitment among stakeholders". According to him, Egbin Power has unwavering commitment to reduce carbon emissions and promotes sustainable energy sources, stressing that the need to depeening engagement and advocacy among stakeholders in
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Nigeria Will Spend N1.6trn on Electricity Subsidy This Year, Says Fed Govt

Sanusi during the intertive session

By Favour Ifeoluwa & Akinola Ajibade

No fewer than N1.6 trillion will be spend on subsidizing electricity for end users by the Federal Government in 2024, the Executive Secretary,  Nigeria Electricity Regulatory Commission ( BERC) , Garba Sanusi has said. 

He said this yesterday( Wednesday) during an interactive session with journalists  in Abuja 

According to him, the amount was not sustainable, going by the bad economy in Nigeria.

Recall that NERC last night( Wednesday) posted the review tarriff for the operating electricity distribution companies with provision of subsidy.

The NERC boss, who spoke passionately about the new tarrif review said: “I want to correct the impression that for one year we haven’t had any review. The reality is that the reviews have been done but what happened is what you pay as a customer is a blend of regulation and and policy.

“If we have determined that you should be paying N150 and the Federal Government says you should pay N60 and it will pay the difference. Then that is what it is, and the government would now provide the money.

“And that is why the current tariff order that is posted on our website, you will see this is what you should pay, and this is what the government says you should pay, and the government will provide the difference except there is the change of the government policy.

“For the first time we mandated all the electricity distribution companies ( DisCos)  to provide five-year capital investment plans, and we reviewed it for prudence and efficiency, and we made sure that all these investments are targeted towards the improving service.

“We have our projection on what will be required if the government does nothing tariff, and it will be N1.6trn to fund electricity, and that is 30bn a month. One of the new things in tarrif order is, and to avoid rate shock, we will now be doing the minor tariff review very frequently, like every month’’.

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