Business
ECN Charges Power Investors On Tariff
The Director-General of Energy Commission of Nigeria (ECN), Prof. Jidere Bala, has advised investors in power sector to maintain good relationship with consumers through low but cost reflective tariff regime.
Bala told reporters in Lagos that electricity was a service and consumers must have good relationship with the suppliers.
The Director-General said that Generating Companies (GENCOs) and Distribution Companies (DISCOs) were not philanthropists and so must make profits.
“The suppliers need a little profit, the consumers must also agree with suppliers.
“Government, as regulator, should also be there to regulate the duo.
“They have to source for the service they are giving consumers, so we should reach compromise and not fight over tariff,” he said.
Bala urged Nigerian Electricity Regulatory Commission (NERC) to come out with strong regulatory framework because consumers should enjoy what they paid for.
He advised consumers to exercise patience as finance was the major challenge facing the operators.
“It has been almost four years of privatisation of the sector now; it is not easy to raise money to finance major projects.
“We should still be patient with the market situation; consumers and suppliers should understand one another.
“We must keep on dialoguing with one another to find ways out of these challenges.
“Dialogue should always be the solution to the problem of tariff hike,” he said.
The GENCOs, on July 13, said that the Federal Government must increase electricity tariff.
The Vice Chairman, Mainstream Energy Solution, Ismaila Funtua, made the suggestion while talking with the State House correspondents on the sidelines of the Quarterly Presidential Business Forum held at the Presidential Villa, Abuja.
our source also reports that the Managing Director of Niger Delta Power Holding Company, Mr Joseph Ugbo, on July 14, threw his weight behind the calls by the generating companies for a hike in electricity tariff.
Ugbo made his position known in an interview with journalists on July 14 when the Acting President Yemi Osinbajo visited N-Power Response Centre located in the NDPHC Building in Abuja.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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