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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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Shell Scores Local Coys High In Contracts Execution

By Favour Ifeoluwa & Akinola Ajibade 


Shell Nigeria has played crucial roles in the execution of  oil and gas contracts in the last few years, the company has said. 

In a statement issued by Shell Petroleum Development Company ( SPDC) and made available to the News Mirror at the weekend, the firm said the contracts were executed on land and deep waters.

It noted that indigenous contractors has deployed a  technology for automated tank cleaning at bonny terminal of the company, ading that locally manufactured stud bolts, nuts and flanges as well as sand screens were used its well operations.

The statement, quoted the General Manager, Nigerian Content Development, Lanre Olawuyi, as saying that Shell Nigeria Exploration and Production Company Limited (SNEPCo) deployed a team of 33 companies out of which 87 percent of the firm's are not only  owned by Nigeria, but were given the mandates to successfully deliver the Bonga Turn Around Maintenance in eight days ahead of schedule saving on downtime on Bonga.

 “Nigerian content is a business enabler for Shell, so, it is in our interest to help build the capacity of Nigerian contractors, with a view to enable them to  handle key contracts,” it added.

Represented at the just-concluded 8th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos by theCompany's Manager, NCD Capacity and Supplier Development, Kenechukwu Akubue.Olawuyi said that participation of local companies in the energy operation is significant to the growth of the industry.“

Shell is grateful for the support of stakeholders, including the NCDMB, our partners and contractors in efforts to promote Nigerian content and we hope to continue the collaboration to further grow this aspect of our business.” he added.

According to him, Shell has taken steps to support the target of increasing overall Nigerian content in the oil and gas industry from 20 percent in 2010 to 70 percent by 2070, through contract awards. 

He noted Shell companies in Nigeria in 2020  warded contracts worth over $1.9bln to Nigeria registered companies, of which 61% of were indigenous companies with 51% or more Nigerian ownership.

 

 







 

 


 

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