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
Kyari at the Summit By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited (NNPC Limited) says its role in the divestment of the assets of International Oil Companies( IOCs) is more of a facilitator, not an obstacle, its Group Managing Director, Mr Mele Kyari has said. He spoke yesterday ( Tuesday ) during the opening ceremony of the 7 th edition of the Nigerian International Energy Summit 2024 (NIES 2024), summit at the State House, Abuja, on Tuesday. According to him, NNPC's statutory role is to serve as an enabler of national energy security and further that optimal and sustainable production from the divested assets is guaranteed for the benefits of Nigerians. He also said that the company’s willingness to invest in the proposed African Energy Bank will be sustained, stressing the development would help in providing energy security. On investment in energy infrastructure, the GCEO said the completion of the Obiafu-Obrikom-Oben