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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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'Fire Guts Honey Well Depot, Not Subsidiary' Says NNPC


By Favour Ifeoluwa & Akinola Ajibade


The Nigerian National Petroleum Corporation Limited (NNPCL), yesterday ( Friday) said that the depot gutted by fire in Lagos belonged to Honeywell and not its subsidiary.

This is contrary to reports in the media the facility  located at Kayode Street, Marine Beach, Apapa area of the state belonged to the NNPCL.

NNPC Limited, in a statement by its Chief Corporate Communications Officer, Olufemi O. Soneye, said that the incident took place at a depot belonging to HOGL Energy Ltd (Honeywell Depot), and not an NNPC Retail Ltd.’s facility as circulated by early responders. 

“The fire, which has since been extinguished, was as a result of petroleum products spillage within the perimeter of the tank farm,” the statement said.

Meanwhile, NNPC Ltd and other depots in the area have resumed loading activities.
NNPC assures that the incident will, in no way, affect petroleum products supply and distribution across the country.

According to an eyewitness, Mr. Tunde Are, the last incident occurred at about 11 am on Friday as people ran helter-skelter to contain the fire outbreak before rescue team arrived.


Rescue team led by the Lagos State Fire and Rescue Service, Lagos State Emergency Management Authority, LASEMA, as of press time, 1 pm were battling to put off the raging fire.

The inferno, it was gathered resulted from a spillage of petroleum products within the perimeter of the terminal.

Director, Lagos State Fire and Rescue Service, Mrs. Margaret Adeseye, while confirming the unfortunate incident said concerted effort with various emergency responders within the oil and gas industry was on to contain the situation.

“The public are hereby assured that the emergency operation is under control from escalating further,” Adeseye stated.

Below is the full statement issued by Olufemi Soneye

NNPC Ltd Clarifies Lagos Depot Fire Incident
…Says Normalcy Restored

The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the fire incident at a tank farm in Marine Beach, Apapa, Lagos, was at a depot belonging to HOGL Energy Ltd (Honeywell Depot), and not an NNPC Retail Ltd.’s facility as circulated by early responders.

The fire, which has since been extinguished, was as a result of petroleum products spillage within the perimeter of the tank farm.

Meanwhile, NNPC Ltd and other depots in the area have resumed loading activities.
NNPC assures that the incident will, in no way, affect petroleum products supply and distribution across the county.

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