Business
TCN Generates 72,261 mw Of Electricity In Aug
The Transmission Company of Nigeria (TCN) yesterday said it wheeled out 72,261.7 megawatts of electricity in the first four weeks of August.
The daily statistics of TCN operations obtained by our correspondent from Nigerian Electricity System Operator (SO), a section of the TCN, indicated that 34,853.3 megawatts were generated between August 1 and August 12.
This was against the 37,408.4 megawatts generated between August 13 and August 23.
The statistics indicated that power generation dropped by 2,555 megawatts between the two periods.
Daily power generated from August 1 to August 12 were 2,617.9mw, 3,226.2mw, 3,411.3mw, 2,745.8mw, 2,951mw, 3,393.8mw, 3,292.8mw,3,301.7mw, 3,360.5mw, 3,425.6mw and 3,126.8mw, respectively
Daily power generated from Aug.13 to Aug. 23 were 3,316.1mw, 2,804.5mw, 3,435.5mw, 3,443mw, 3,443mw, 4,068.6mw, 3,450.8mw, 3,737.6mw, 3,136.9mw, 3,912.8mw and 3,361.9mw, respectively.
The power were wheeled to 11distrbution companies
The TCN said that national peak demand forecast stood at 19,100.00mw, while 11,165.40mw was the installed available capacity, 7,139.60mw was the available capacity, 7,000 mw was the current transmission capacity and network operational capacity was 5,500.00mw.
The peak generation ever attained in Nigeria was 5,074.7mw, while the maximum energy ever attained stood at 109,372.01mwh.
A former Group Executive Director (Gas and Power) in NNPC, Mr David Ige said that there was the need for prompt settlement of debts for the sector to operate optimally across the entire value chain
Ige, who is currently the Chief Executive Officer, GasInvest Ltd., said that currently about N1 trillion was being owed across the entire value chain from gas production to distribution.
Ige said that the problem of liquidity was also affecting natural gas production and supply.
“It may interest you to know that in the country today, our installed capacity for gas production is about two billion Standard Cubic Feet (SCF) per day.
“If all this capacity is flowing, all these problems associated with power generation would have reduced significantly.
“From January 2016 till date, we have had an average production of 1.4bscuf of gas per day and in fact on a steady scale, it is 1.2bscuf per day.
“That means about 800 million scuf per day of installed capacity is not getting to the market, talk less of other challenges in the sector.
“We need to address these fundamental issues of not utilising the installed capacity to produce gas. About 300 billion scuf that is stranded is due to power sector not taking the gas,” he said.
Meanwhile, the Nigerian Electricity Management Services Agency (NEMSA) has reported that 82 employees of electricity distribution companies and TCN as well as power consumers lost their lives in various electricity-related accidents between January and July this year.
They were 14 employees of TCN and the DISCOs and 68 other victims who were classified as third party individuals.
The report also stated that there had been 67 accidents with fatalities so far, while there were 37 accidents with only injuries adding that 59 other persons were injured in the process.
The agency went further to state that 24 people among the injured persons were workers of both the DISCOs and the TCN, while 35 were third-party individuals.
The report said that Abuja Electricity Distribution Company (AEDC), Kano Electricity Distribution Company (KEDCO) and Port Harcourt Electricity Distribution Company (PHED) recorded the highest number of fatalities or deaths this year.
While 20 individuals lost their lives in locations covered by Abuja DISCO, 11 persons died in each of the areas under the electricity supply and distribution management of Kano and Port Harcourt DISCOs.
DISCOs like Benin, Eko, Enugu, Ibadan and Ikeja recorded seven, one, three, eight and two fatalities, respectively.
Jos DISCO recorded 10 fatalities, while each of Kaduna and Yola DISCOs had situations that claimed four lives in their coverage areas.
The TCN lost one employee.
Business
Food Vendors, Others Relocate To New Site At PH Airport
The raging controversy between the Port Harcourt International Airport Management and restaurants/canteen operators and theirallies over relocation has been brought under control, as the operators have commenced relocation to their structures at the new site.
Recall that there had been serious feud over a directive by the Manager of the airport, Mr. Michael Area, for food vendors and their allies to relocate to the new site.
They insisted that the new site was too distant and hence, would negatively affect patronage from customers, with possible loss.
They further also insisted that it wouldcost them much money to put up another structure, given the economic situation in the country, since the airport management did not build any structure for them, apart from providing the empty land they have to also pay for.
The situation had led to flexing of muscles, which made the Airport Manager to order for sealing of all shops, resulting in scarcity of food, as airport users could not find a place to eat, apart from the only Genesis fast food spot available.
As at last Friday, The Tide observed that most of the food vendors had transferred their structures to the new place, and had started doing business there already.
Meanwhile, customers have started settling down at the new location as they were seen patronising shops for foods and drinks, in spite of the distance.
Few of the remaining structures at the old site, The Tide further gathered, will also be removed as quickly as possible, and the owners are making efforts to get funds for the job to be done.
One of them, Mrs Aka Love explained that she was going to relocate to the new place before the end of March.
Currently, business activities at the old site have come to null, as the place which was usually a beehive of food, drinks and relaxation, has completely winded down.
By: Corlins Walter
Business
MOWCA Strengthens Maritime Crime Prevention
Secretary General of the Maritime Organisation of West and Central Africa (MOWCA), Dr. Paul Adalikwu, has stepped up interaction with the United States Government to lift restrictions placed on some member countries allegedly implicated in illicit shipping activities.
Adalikwu, who led a delegation from the MOWCA Secretariat to the US Embassy in Abidjan for a first leg of the strategic consultation aimed at promoting seamless participation of MOWCA countries in international trade within the global maritime space, reiterated the organisation’s commitment to the best ethical and lawful maritime practices.
Addressing the U.S Ambassador to Côte d’Ivoire, H.E Mrs Jessica Davis Ba, the MOWCA SG stated the organisation’s interest in promoting the International Ship and Port facility Security (ISPS) code which aims at enhancing security of vessels and their ports of call.
He expressed the commitment of MOWCA in promoting environmentally friendly, safe and cost effective shipping without any encumbrance that may limit the economic potential of member countries.
Dr Adalikwu recalled that at the instance of the U.S. Department of State invitation, MOWCA participated in the 2023 Registry Information Sharing Compact (RISC) Conference in Larnaca, Cyprus, on February 28–March 1, 2023, and a virtual meeting held on June 6 2023, with Mrs Jennifer Chalmers, Officer in change of Counterproliferation Initiative.
He recalled The U.S. DOS willingness to support MOWCA’s effort for preventive maritime security through the establishment of the Center for Information and Communication (CINFOCOM) with the aim to ensure a maritime situational awareness domain within MOWCA’s member states’ waters.
He added that MOWCA under his watch is committed to training and retraining of maritime practitioners and experts to enhance the human capital capabilities of member states.
The CINFOCOM will help prevent transnational crimes committed at sea like sanctions evasion by North Korea and other state actors, who exploit poor enforcement due diligence by ship open registries to circumvent United Nations and U.S. trade restrictions.
By: Nkpemenyie Mcdominic, Lagos
Business
Nigeria’s Public Debt Hits N97.3trn – DMO
The Debt Management Office (DMO) has hinted that Nigeria’s public debt increased by 10.7 per cent from N87.87 trillion in the third quarter of last year, to N97.34 trillion as at December 31, 2023.
DMO, in an update data released last Friday, said the increase in the debt stock was largely due to new domestic borrowing by the Federal Government to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
The office noted that the N97.3 trillion public debt comprises of domestic debt of N59.12 trillion and external debt of N38.22 trillion. The sum of $3.5 billion was used to service external debt during the review period.
“Nigeria’s Public Debt Stock as at December 31, 2023 was N97.34trillion or $108.229 billion. This amount comprises the domestic and external debt stocks of the Federal Government of Nigeria (FGN), the 36 States Governments, and the Federal Capital Territory (FCT).
“There was an increase of N9.43 trillion over the comparative figure for September, 2023, which was largely due to new domestic borrowing by the FGN to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
“At N59.12 trillion, total domestic debt accounted for 61 percent of the total public debt stock, while external debt at N38.22 trillion accounted for the balance of 39 percent.
“Consistent with the debt management strategy, Nigeria’s external debt stock was skewed in favour of loans from multilateral (49.77 percent) and bilateral lenders (14.02 percent) or total of 63.79 percent which are mostly concessional and semi-concessional.
“Whilst the DMO continues to employ best practice in public debt management, the recent and on-going efforts of the fiscal authorities to shore up revenue will support debt sustainability”, DMO stated.
By: Corlins Walter
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