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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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NUPRC's Head Office Remains In Abuja



By Favour Ifeoluwa & Akinola Ajibade


The Nigerian Upstream Regulatory Commission  (NURPC) says its corporate headquarters remains in Abuja and that it not in anyway planning to leave Abuja, which is Nigeria's  Federal Capital. 
Prior to this, some media organisations ( not the News Mirror) have written reports that NUPRC is planning to exit Corporate Head Office in Abuja, with a view to view to restart operation in any of the 36 states of the Federation. 
In a  statement made available to the News Mirror by the agency's, Chief Executive officer, Mr Gbenga Komolafe,  the agency said that the information that it was leaving its operational base in Abuja was not true, but rather it was meant to smear the image of agency, which is charged with the responsibility of ensuring compliance with petroleum laws/  regulating guidelines for the operation of oil and gas driling sites and wells in Nigeria. 

NUPRC's Chief Executive officer, Gbenga Komolafe

Others include supervising operations of oil and gas activities, which were under licenses and leases and other duties hitherto carried out by the Department of Petroleum Regulatory( DPR). 
Also, a public analyst, Mr Ibrahim Musa, in a fully worded letter describing the activities of NUPRC and also providing reasons why the agency is not exiting Abuja, which is Nigeria's Federal Capital, said that NUPRC also has the mandate to monitor operations to ensure that they are in line with national goals and aspirations, including those relating to Natural Gas Flare elimination & monetization, Domestic Gas Delivery Obligations and Domestic crude oil supply obligations and ensures that Health Safety& Environmental regulations conform to national and international best oil field practice.
Musa stated that the agency is maintaining records on upstream petroleum operations, particularly those relating  to petroleum reserves, production/exports, licenses and leases.
This Musa said, is coupled with the fact that NUPRC provides government and relevant government agencies with advice on technical matters, while at the same time, involve in processing upstream petroleum–related applications for leases, licenses and permits as well as ensure timely and accurate payments of Rents, Royalties and other revenues due to the government from NURPC's operations. 
The agency said  that some persons, including politicians and analysts, who are aware of its various roles have perceived the actions of NUPRC more from the realm of politics than economics. 
" They keep a close watch on the activities in the agency and would complain about almost every development that does not fit into their pre-conceived idealism, instead of embracing realism based on purely economic considerations.
Citing the latest efforts to move some personnel, especially field officers to Lagos, where many oil and gas companies have their offices , 
NUPRC said as a matter of fact, it is charged with the responsibility to implement  Petroleum Industry Act, which is a comprehensive legislation, targeted at achieving restructuring, repositioning, increased productivity and transparency and accountability in the oil and gas sector. 
NUPRC, analysts in the energy industry said that has  inherited many personnel and its current building in Abuja from the defunct Department of Petroleum Resources DPR and regretted  many  personnel work with their laptops from unsuitable locations due to the that they do not have offices to sit down and do their work.

 

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