Connect with us

Business

Consumers Want Improved Power Sector Reforms

Published

on

The Federal Government has been urged to intensify efforts in its determination to fix the power sector, to enable Nigerians realise their full economic potentials.

Some consumers of electricity made the call in Port Harcourt on Monday following the announcement to interrupt power supply in Rivers State for five weeks, beginning from August 1, 2011 by the Power Holding Company of Nigeria (PHCN).

Speaking to The Tide on the need for Federal Government to consider what the country is losing daily by resorting to alternative power supply, two public analysts, Barr. Okey Chidi and Mr. Nworie Okeke called on Jonathan’s Administration to prioritise power ahead of other sectors. They bemoaned government’s alleged insensitivity in this regard.

According to Chidi, “Government should narrow down to power because if we get it right in this area, it is obvious that the Nigerian economy would be the better for it. The root of the recent promise to liberalise the sector can be traced to the Obasanjo regime, but not much has been achieved because of policy inconsistency”.

Speaking further, the lawyer, who described the recent promise by the Federal Government to increase power supply in the country as cheering news, cautioned the government not to do it in a way consumers would be entangled in a web of high price but rather in a way it would give maximum value to individuals and manufacturing companies at affordable price.

For Okeke, “the restoration of the sector would boost small scale industries, Federal Government should lead the revolution by embarking on laudable power projects that would encourage players in the private sector”.

Some states he noted, like Rivers State, Lagos and Bayelsa have taken a decisive step through their respective independent power projects saying Federal Government should emulate instead of paying lip service to the issue.

It would be recalled that the Power Holding Company of Nigeria, last week announced that power supply in Rivers State would be interrupted from 6AM in the morning to 6.00 pm in the evening for five weeks, beginning from August 1, 2011. this is to enable PHCN beef up Port Harcourt capacity to 270 mega-watts at Afam Power Station. Meanwhile, the Rivers State Independent Power Projects at Omoku and Trans Amadi will be supplying power at nights; 6.00pm to 6.00 am while the job lasts.

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

Stakeholders Meet To Assess Nigeria’s Preparedness For AFCFTA

Published

on

Stakeholders are expected to converge in Lagos today to take a look at the Nigeria’s preparedness to maximize the gains of the African Continental Free Trade Area (AfCFTA). 
The Tide learnt that stakeholders will be converging at the instance of a popular online newspaper, Primetime Reporters, to assess the progress made so far by the Federal Government through the National Action Committee on AfCFTA agreement.
The event which is the Third Annual Lecture and Awards of the online medium has as its theme: “Assessing Nigeria’s Preparedness to Maximize the Gains of AfCFTA.” 
The event will also witness conferment of awards on eight eminent Nigerians who have distinguished themselves in various fields of human endeavours.
The Managing Director/Editor-In-Chief of Primetime Reporters, Mr. Saint Augustine Nwadinamuo, made this known in a statement made available to The Tide in Lagos on Monday.
According to him, the event will hold at the National Institute of International Affairs (NIIA), Kofo Abayomi Street, Victoria Island, Lagos beginning from 10.00am.
Nwadinamuo said that the event would be chaired by a renowned legal practitioner, Barr. Osuala Emmanuel Nwagbara of the Maritime and Commercial Law Partners, Lagos, while the Director General, Lagos Chambers of Commerce and Industry (LCCI), Dr. Muda Yusuf, would be the lead paper presenter.

By: Nkpemenyie Mcdominic, Lagos

Continue Reading

Business

EFCC Nabs 419 Kingpin Over N250m Fraud

Published

on

The Economic and Financial Crimes Commission (EFCC), has arrested a leader of a deadly 419 syndicate, Abayomi Kamaldeen Alaka (a.k.a Awise) over an alleged attempt to swindle an innocent Nigerian of N250 million. 
The Tide learnt that the syndicate operates from a shrine at Ashipa Town, near Abeokuta, Ogun State.
According to a statement made available to The Tide in Lagos on Sunday, by the EFCC, Awise’s arrest followed a petition by his victim, Juliet Bright who lost N250m to the fraudster after she was tricked to provide money for sacrifices and invocations to heal her of an ailment.
The statement said Bright was introduced to Alaka by one Akinola Bukola Augustina (a.ka. Iya Osun) whom she met on Facebook in the course of her search for solutions to her health challenge. 
What drew her to Augustina was the latter’s post under the name, Osunbukola Olamitutu Spriritual Healing Centre.
 Once Bright contacted Augustina, the latter promised to heal her if she could pay N16 million. 
The victim paid the money through an Access Bank account belonging to one Mohammed Sani, who later turned out to be a Bureau De Change Operator.
After paying the money without receiving healing, Augustina transferred the victim to other members of the syndicate, notably Awise. 
Bright revealed that she met Awise at his shrine in Ashipa Town and was hypnotized and subsequently transferred various sum through bank accounts and in cash to the suspect and his syndicate members, until she lost N250 million to them.
Despite all the monies collected from her, her health conditions has never improved.

By: Nkpemenyie Mcdominic, Lagos

Continue Reading

Business

Expert Wants Farmers To Grow Plant Produce For Export

Published

on

An expert in Quarantine Agriculture, Dr Vincent Ozuru, has advised Nigerian farmers to give more attention to growing plants produce that could be exported.
He said that plant like the hibiscus, popularly known as Zobo is on high demand in some countries around the world, today.
Ozuru who gave the advice while speaking to aviation correspondents at Port Harcourt International Airport, Omagwa, noted that some plants produce, particularly hibiscus, had yielded huge revenue to the Federal Government through export.
According to him, Nigeria exported about 1,983 containers of hibiscus to Mexico alone in 2017 and earned $35 million within nine months of that year.
The agricultural quarantine expert explained that the export of the plant had a setback as a result of storage pest discovered by the Nigeria Agricultural Quarantine Service in some consignments.
“The issue has now been taken care of and the export is resuming again, and all matters have been resolved with the stakeholders across the value chain.
“Mexico is the largest importer of Nigerian hibiscus, and our farmers should brace up to the challenge.
“The good news is that Nigeria has a vast growing belt in hibiscus, and the harvest is available all year round.
“We need to take advantage of this opportunity to earn foreign exchange for ourselves and for the country at large, even with the commitment of the present administration to diversify the economy”, he said.
Ozuru called on Nigerian farmers to show more commitment to the growing of export produce and also endeavor to get ready information on it in order to increase their income.

By: Corlins Walter

Continue Reading

Trending