Power Sector News And Other Related Stories For Thursday 25th August 2022

Posted by News Room August 25, 2022
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Discos Insist FG Expropriating Power Distribution Assets in Breach of Extant Laws

The Association of Nigerian Electricity Distributors (ANED) has knocked the federal government over alleged illegal expropriation of five distribution companies (Discos), saying the action was worsening the failure of the power sector.

ANED added that with the federal government’s 40 per cent share of Discos’ assets through the Bureau of Public Enterprise (BPE), it was complicit in the sector’s limited performance, warning that any attempt to resell the expropriated Discos would be nothing more than fantasy and an exercise in futility.

In a statement issued yesterday by its Director of Research and Advocacy, Mr. Sunday Oduntan, entitled, “Expropriation or Disregard for the Rule of Law is Not the Answer to NESI’s Challenges,” the Discos’ body noted regrettably that recent events happening in the sector had continued to undermine an already fragile and moribund Nigerian Electricity Supply Industry (NESI).

The Director General of BPE, Mr. Alex Okoh, had announced a few days ago that the government had successfully concluded the takeover of struggling Discos, including Kaduna, Kano, Ibadan and Port Harcourt Discos, adding that the challenge in the takeover of Benin Disco was being addressed.

https://www.thisdaylive.com/index.php/2022/08/25/discos-insist-fg-expropriating-power-distribution-assets-in-breach-of-extant-laws/

 

Takeover: DisCos Fight Back, Claim 32,000 Jobs

Electricity distribution companies, DisCos, said they had succeeded in creating over 32, 000 jobs since privatisation.

In a statement signed by the Executive Director, Research & Advocacy, the Association of Nigeria Electricity Distributors, ANED, Barr. Sunday Oduntan, on Wednesday, the DisCos they had created 32,573 as against 23,515 at privatisation

The explanations became necessary following the recent takeover of some utility firms by the Federal Government.

He also listed other achievements to include: increased metering from 2.3 million in 2013 to 4.7 million; installation of 129,352 distribution transformers as of 2020 versus 75,041 in 2013; increase of electricity distribution capacity from 15GW to 30GW post privatization; establishment of a new revenue collection of N777 billion; reduction of average Aggregate Technical Commercial & Collection Losses (ATC&C) estimated in excess of 56 per cent, pre-privatisation to 46.3 per cent, among others.

While agreeing that the DisCos still had a long way to go to meet the service delivery requirements that would ensure consistent and stable electricity to their customers, ANED said the journey was a direct function of the level of investment attracted to the sub-sector, necessary for the capital expenditure that was critical for increased efficiency and performance.

https://punchng.com/takeover-discos-fight-back-claim-32000-jobs/

 

DisCos Recorded N777bn Revenue Collection in 2022 Q1 ― ANED

The electricity Distribution Companies (DisCos) in 2022 first quarter, recorded N777billion revenue collection, the Association of Nigerian Electricity Distributors (ANED) has disclosed.

This was even as it revealed that the DisCos have installed about 129,352 distribution transformers since the power sector privatisation of 2013.

Executive Director, Research and Advocacy, (ANED), Sunday Oduntan, made the disclosure in a statement, on Wednesday.

According to ANED, the investors and operators remain totally committed to improving service delivery to customers despite DisCos’ lapses.

It said there has been improvement in, “Establishment of a new revenue collection of N777 billion; the installation of 129,352 distribution transformers as of 2020 versus 75,041, in 2013, a 72 per cent increase; Increased metering from 2.3 million in 2013 to 4.1 million as of 2020, a 78 per cent increase.”

https://tribuneonlineng.com/discos-recorded-n777bn-revenue-collection-in-2022-q1-%E2%80%95-aned/

 

BEDC Faults Malami’s Alleged Opinion On Expiration of Court Orders

Benin Electricity Distribution Company (BEDC) Plc has reacted to the alleged opinion of Attorney-General of the Federation (AGF), Abubakar Malami, which reportedly proclaimed that the ex-parte orders of the Federal High Court issued in Suit No: FHC/ABJ/CS/1113/2022 – Vigeo Power Limited vs. Fidelity Bank PLC & 7 Ors. on July 8, 2022 – had expired after 14 days.

A media report, on August 23, 2022, claimed: “The AGF and Minister of Justice, Abubakar Malami (SAN), believes that the refusal of the sacked Managing Director of BEDC Electricity Plc to vacate office is acting beyond her legal power or authority.”

It had added: “Malami cited the recent restraining order paraded by the ousted BEDC boss, which she reportedly obtained from an Abuja High Court as lawless, ultra vires, and of no effect as the 14 days granted by the Federal High Court had slumped to vacate her from the office.

“In his opinion on the matter titled: ‘Legal opinion on the possession and management of BEDC Electricity Plc, dated August 18, 2022, with reference number LE/14/1.7/95’, the Attorney General cited Order 26 Rule 10 (1-3) of the Federal High Court (Civil Procedure) Rules 2019 which state in part to buttress his advice.”

https://guardian.ng/news/bedc-faults-malamis-alleged-opinion-on-expiration-of-court-orders/

 

DisCos’ Takeover, CBN Interventions Averted Banks’ Collapse –Stakeholders

Stakeholders in the nation’s power sector have averred that the timely takeover of five electricity distribution companies (DisCos), as well as the various financial interventions by the Central Bank of Nigeria (CBN) have helped to avert the collapse of many deposit money banks (DMBs).

The power sector has continually suffered a cash crunch, forcing the federal government to inject funds to avert a total collapse. Despite a series of government interventions, the problems in the power sector prevail.

Stakeholders said yesterday, that many DMBs in Nigeria who extended loans to DisCos may have collapsed except for the CBN, especially in the takeover of some distribution companies, amidst poor performance and inability to pay back their loans.

The experts, who also noted that the apex bank’s backing of the takeover saved the country from job losses and economic catastrophe, noted that recovering government loans as well as that of commercial banks remained critical for the nation’s financial sector even as government intervention in the sector now stands at N2.9 trillion.

https://leadership.ng/debts-discos-takeover-cbn-interventions-averted-banks-collapse-stakeholders/

 

Tap into Huge Investment Opportunities in Electricity Industry – Minister

Minister of Power, Abubakar Aliyu, has urged investors to tap into the numerous investment opportunities that abound in Nigeria’s Electricity Supply Industry (NESI).

The minister made this call during the 2-day Nigeria-India business forum, a statement from Ministry of Power issued in yesterday in Abuja, indicated.

He said that with the commitment made by President Muhammadu Buhari, at the Conference of Parties’ 26th Annual Summit (COP26) in Glasgow, where Nigeria planned to achieve Net Zero Carbon Emission by 2060.

The minister said structures were being put in place to increase the opportunity for investment in Gas-to-Power and other gas related opportunities.

“The efforts by the government are paying off and will eventually eliminate the issues of gas constraints along the gas network.

https://leadership.ng/tap-into-huge-investment-opportunities-in-electricity-industry-minister/

 

Nigeria Power Sector Awards’ Organizers Call for Nominations

The Nigeria Power Sector Awards organizers have called for nominations for the 2022 edition of the awards meant to recognise organisations and individuals that have contributed positively to the growth of the power sector.

The maiden awards in the Nigerian Electricity Supply Industry (NESI) will hold at the prestigious Sheraton Hotels in Abuja on November 23, 2022 .

In a statement by the Director of Marketing and Sponsorship, Nigeria Power Sector Awards Limited, Racheal Salahu, she said the Awards will celebrate the efforts and achievements of deserving public and private organizations and individuals across the entire NESI value chain and the renewable energy/off-grid sector.

“The Awards aims to reward and incentivize organizations and individuals who have contributed in measurable ways to the improvements, growth and progress in the sector; catalyze further improvements, growth, innovation and progress in the power sector; and transparently highlight the improvements and growth achieved within the power sector in order to change the negative public opinion about the power sector, which has become a hindrance and constraint to attracting much needed long term investments in the power sector,” the statement said.

https://leadership.ng/nigeria-power-sector-awards-organizers-call-for-nominations/

 

Nigeria Seeks $10bn Package from International Partners for Energy Transition Plan

The Vice President, Prof. Yemi Osinbajo has declared that Nigeria is seeking $10 billion from international partners to fund the nation’s new Energy Transition Plan.

This was just as the World Bank and the US Exim Bank have pledged to assist Nigeria in its energy renewal efforts with $3 billion.

Speaking yesterday in Abuja, at the virtual launch of Nigeria’s Energy Transition Plan, a roadmap to tackle the dual crises of energy poverty and climate change, Osinbajo stated that Nigeria is currently engaging with partners to secure an initial $10 billion support package ahead of COP27 along the lines of the South African Just Energy Transition Partnership announced at COP26 in Glasgow.

“Nigeria would need to spend $410 billion above business-as-usual spending to deliver our Transition Plan by 2060, which translates to about $10 billion per year.”

According to him, Africa’s increasing energy gaps require collaboration to take ownership of the continent’s transition pathways and the action should be decisive and urgent.

He said, “for Africa, the problem of energy poverty is as important as our climate ambitions. Energy use is crucial for almost every conceivable aspect of development. Wealth, health, nutrition, water, infrastructure, education, and life expectancy are significantly related to the consumption of energy per capita.”

https://www.thisdaylive.com/index.php/2022/08/25/osinbajo-nigeria-seeks-10bn-package-from-international-partners-for-energy-transition-plan/

 

Siemens Power Initiative: Federal Govt Investing $2bn in Distribution, Transmission – Osinbajo

Vice President Yemi Osinbajo has revealed that the federal government is investing more than $2 billion under the Siemens Presidential Power Initiative to boost transmission and distribution of electricity from the nation’s national grid.

Speaking during the formal inauguration of the National Council on Infrastructure in Abuja yesterday, the vice president said the collaboration between the federal government and the private sector will not only ensure effective coordination of the infrastructure development across the nation, and all sectors of the economy, but also bridge the nation’s infrastructural gaps.

Osinbajo’s spokesman, Laolu Akande, in a statement yesterday in Abuja, said the vice president virtually inaugurated the National Council on Infrastructure set up by President Muhammadu Buhari.

According to the vice president, such collaboration will also bridge the nation’s infrastructure gaps.

“For efficient and effective implementation of infrastructure projects, the National Integrated Infrastructure Master Plan (NIIMP) recommended the establishment of the National Council on Infrastructure and its Technical Working Group (TWG).”

https://leadership.ng/siemens-power-initiative-federal-govt-investing-2bn-in-distribution-transmission-osinbajo/

 

Assessing Mojec’s Roles in Nigeria’s Power Sector

Thriving enterprises sprout on the identification of problems and flourish by proffering solutions to the problems for requisite remuneration.

This is where the win-win philosophy appeals to mankind the most.

This ideology might have inspired a frontline Nigerian corporate citizen, MOJEC International Limited, a wholly indigenous company to approach its business operations with an eye toward solving problems within the energy sector.

The company has a strong footprint in Nigeria, Africa, and the Middle East, where it is delivering on smart meter manufacturing, clean energy, and other business areas.

This is just one of the firsts, as MOJEC is the only player in the energy sector to have such footprints across the world.

Chantelle Abdul, the Group Managing Director/Chief Executive Officer, MOJEC International, is quick to pin the company’s history of firsts on its innovative drive, which has seen it deliver consistently on its corporate mantra of “building a world of possibilities in the midst of impossibilities.”

https://independent.ng/assessing-mojecs-roles-in-nigerias-power-sector/

 

Power Cuts and Sleepless Nights in China’s Record Heatwave

The lights are out along a once-bustling boulevard in a tourist spot at the epicentre of China’s hottest summer on record, as people take refuge indoors from the searing heat engulfing the country’s southwest.

The region is suffering through its longest continuous period of high temperatures since records began more than 60 years ago, with scientists warning such hot and dry spells will worsen as climate change warms the planet.

Temperatures as high as 45 degrees Celsius (113 Fahrenheit) have forced authorities to impose power cuts to cope witbg h a surge in demand for electricity partly driven by people cranking up the air conditioning.

On the streets of Chongqing, a city of 30 million, locals line up for mandatory Covid tests in the wee hours of the morning, keen to avoid long queues in the scorching heat of the day.

One woman told AFP she took shelter in a local ballroom during the day — a spot particularly busy as the elderly seek shelter from the sun and while away the hours dancing under adimmed light.

https://guardian.ng/news/power-cuts-and-sleepless-nights-in-chinas-record-heatwave/

 

 

 

 

 

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