Oil & Energy

Mixed Feelings Trail Power Supply In Rivers

Published

11 years ago

January 5, 2015

Consumers of electricity
in Port Harcourt and its environs have expressed mixed feelings about the electricity supply by the Port Harcourt Electricity Distribution Company (PHEDC) during the Yuletide and the New Year celebrations.
The Tide gathered that in Diobu area of Port Harcourt, there was light during the 1st January celebration compared to the Christmas period.
One of the residents, Jacob Williams, said there was light on the eve of the new year being 31st December, adding that during the New Year Celebration, there was enough supply that lasted for over five hours.
Williams who lives at Dim street in mile III said, “it was better at New Year than during the Christmas Day. I commend PHEDC, but the company need to keep on improving.”
At Ogbunabali, Nneji Nwokokorom said “the new year was better in terms of power supply.” We had light for hours and that enable those living there to celebrate the new year better.”
Nwokokorom, however, remarked that even the supply on the new year for which he commended PHEDC is not adequate for such a global celebration. “We deserve 24 hours power supply, and until we get there, the government and Power distribution companies must not relent.’
But at Choba, Raymond Akpan, a resident said he has nothing to commend PHEDC for because there was no power supply during the New Year just as it was during the Christmas celebration.
“A company that is responsible, company that deserves payment for services rendered but PHEDC does not render services but it is always interested in issuing bills to its customers it is fraud and display of irresponsibility.
I expect the government to call the firm to order or withdraw whatever licence given to it.”
At Federal Estate, Agip Road in Mile IV, another resident also said there was no light in the area during the Christmas and New Year celebrations.
Anthony Ukwouoma, a resident of the area said “there was light in the Estate on 24th December Night, no light throughout Christmas and no light on New Year. It was on Saturday, being 2nd January that we saw light.
‘Can you imagine any responsible business outfit that display such level of irresponsibility and inhuman treatment for which they request for payments”, Ukwuoma stated.
In Borikiri, the old township, the residents said there was light on New Year Day but the light lasted for only few hours and that since then, there had not been light in the area.
“One can say New Year Day supply was better than that of Christmas. But is few hours power supply enough to earn PHEDC any commendation; queried Mr Jackson Philip.
Philip said for over 14 years he has been living in Borikiri, the area has not experienced such embarrassing supply than during this era of PHEDC.
When Power Holding Company of Nigeria was in place, the supply was better that what we experience now. PHEDC is more interested in revenue and not service to the customers.
At Rumuokoro, Rumuola, and Rumukurushi, The Tide gathered that PHEDC supplied light during the New Year though the supply never lasted but said the situation was better than during the Christmas Day.

Oil & Energy

NERC, OYSERC Partner To Strengthen Regulation

Published

1 week ago

February 23, 2026

The Tide

THE Nigerian Electricity Regulatory Commission (NERC) has stressed the need for strict adherence to due process in operationalizing state electricity regulatory bodies.

It, however, pledged institutional and technical support to the Oyo State Electricity Regulatory Commission (OYSERC).

The Chairman, NERC, Dr Musiliu Oseni, who made the position known while receiving the OYSERC delegation, emphasised that the establishment and take-off of state commissions must align fully with the law setting them up.

Oseni said that the NERC remains committed to partnering with State Electricity Regulatory Commissions (SERC) to guarantee their institutional stability, operational effectiveness and long-term success.

He insisted that regulatory coordination between federal and state institutions is critical in the evolving electricity market framework, noting that collaboration would help to build strong institutions capable of delivering sustainable outcomes for the sector.

Also speaking, the Acting Chairman, OYSERC and leader of the delegation, Prof. Dahud Kehinde Shangodoyin, said that the visit was aimed at formally introducing the commission’s acting leadership to the NERC and laying the groundwork for a productive working relationship.

Shangodoyin said , the acting members were appointed to provide direction and lay a solid foundation for the commission during its transitional period, pending the appointment of substantive members.

“We are here to formally introduce the acting leadership of OYSERC and to establish a working relationship with NERC as we commence our regulatory responsibilities,” he said.

He acknowledged NERC’s readiness to provide technical and regulatory support, particularly in the area of capacity development, describing the backing as essential for strengthening the commission’s operations at this formative stage.

“We appreciate NERC’s willingness to support us technically and regulatorily, especially in building our capacity during this transition,” he added.

Oil & Energy

NLC Faults FG’s 3trn Dept Payment To GenCos

Published

1 week ago

February 23, 2026

The Tide

The Nigeria Labour Congress and the Association of Power Generation Companies have engaged in a showdown over federal government legacy debt.

NLC president Joe Ajaero has faulted the federal government’s move to give GenCos N3 trillion from the Federation account as repayment for a power sector legacy debt, which amounts to N6.5 trillion.

In a statement on Thursday, Ajaero said the Federal Government proposed the N3 trillion payment and the N6 trillion debt as a heist and grand deception to shortchange the Nigerian people.

“Nigerians cannot and should not continue to pay for darkness,” Ajaero stated.

Meanwhile, the Chief Executive Officer of the Association of Power Generation Companies, APGC, Dr. Joy Ogaji, said Ajaero may be ignorant of the true state of things, insisting that the federal government is indebted to GenCos to the tune of N6.5 trillion.

She feared the longstanding conflict could result in the eventual collapse of the country’s power.

According to her, the federal government’s N501 billion issuance of power sector bonds is inadequate to address its accumulated debt.

Oil & Energy

PENGASSAN Rejects Presidential EO On Oil, Gas Revenue Remittance ……… Seeks PIA Review

Published

1 week ago

February 23, 2026

The Tide

The Natural Gas Senior Staff Association of Nigeria(PENGASSAN) Festus Osifo, has faulted the public explanation surrounding the Federal Government’s recent oil revenue Executive Order(EO).

President of the association, Festus Osifo, argued that claims about a 30 per cent deduction from petroleum sharing contract revenue are misleading.

Recall that President Bola Ahmed Tinubu, last Wednesday, February 18, signed the executive order directing that royalty oil, tax oil, profit oil, profit gas, and other revenues due to the Federation under production sharing, profit sharing, and risk service contracts be paid directly into the Federation Account.

The order also scrapped the 30 per cent Frontier Exploration Fund under the PIA and stopped the 30 per cent management fee on profit oil and profit gas retained by the Nigerian National Petroleum Company Limited.

In his reaction, Osifo, while addressing journalists, in Lagos, Thursday, said the figure being referenced does not represent gross revenue accruing to the Nigerian National Petroleum Company Limited.

He explained that revenues from production sharing contracts are subject to several deductions before arriving at what is classified as profit oil or profit gas.

Osifo also urged President Bola Tinubu to withdraw his recently signed Presidential Executive Order to Safeguard Federation Oil and Gas Revenues and Provide Regulatory Clarity, 2026.

He warned that the directive undermines the Petroleum Industry Act and could create uncertainty in the oil and gas industry, insisting that any amendment to the existing legal framework must pass through the National Assembly.

Osifo argued that an executive order cannot override a law enacted by the National Assembly, describing the move as setting a troubling precedent.

“Yes, that is what should be done from the beginning. You can review the laws of a land. There is no law that is perfect,” he said.

He added that the President should constitute a team to review the PIA, identify its strengths and weaknesses, and forward proposed amendments to lawmakers.

“When you get revenue from PSC, you have to make some deductibles. You deduct royalties. You deduct tax. You also deduct the cost of cost recovery. Once you have done that, you will now have what we call profit oil or profit gas. Then that is where you now deduct the 30 per cent,” he stated..

According to him, when the deductions are properly accounted for, the 30 per cent being referenced translates to about two per cent of total revenue from the production sharing contracts.

“In effect, that deduction is about two per cent of the revenue of the PLCs,” he added, maintaining that the explanation presented in the public domain did not accurately reflect the structure of the deductions.

Osifo warned that removing the affected portion of the revenue could have operational implications for NNPC Ltd, noting that the funds are used to meet salary obligations and other internal expenses.

“That two per cent is what NNPC uses to pay salaries and meet some of its obligations.The one you are also removing from the midstream and downstream, it is part of what they use in meeting their internal obligations. So as you are removing this, how are they going to pay salaries?” he queried.

Beyond the immediate impact on the company’s workforce, he cautioned that regulatory uncertainty could affect investor confidence in the sector.

“If the international community and investors lose confidence in Nigeria, it has a way of affecting investment. That should be the direction. You don’t put a cow before the horse,” he added.

According to him, stakeholders, including labour unions and industry operators, should be given the opportunity to make inputs at the National Assembly as part of the amendment process saying “That is how laws are refined,”