Business

TCN Generates 72,261 mw Of Electricity In Aug

Published

9 years ago

August 30, 2017

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

NCDMB Signs Mgt Deal With Radisson, Edison…As Board’s 204 Rooms Hotel Open December 2026

Published

2 days ago

March 9, 2026

The Tide

The Nigerian Content Development and Monitoring Board (NCDMB), on Monday signed an international management agreement (IMA), with Radisson Hospitality, Belgium and Edison Hotel and Property Development Company with respect to the Board’s 204 rooms hotel and conference center, developed adjacent to the Content Tower, headquarters of the NCDMB in Yenagoa, the Bayelsa State.

A statement by the Board’s Directorate of Corporate Communications says the management agreement was signed in Durban, South Africa by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, Executive Chairman of Edison Corporation, Mr. Vivian Reedy and Director of Radisson, Mr. Garnier Erwan.

Giving assent to the agreement, Ogbe affirmed that discussions, reviews, and compliance requirements have lasted for over two years, and that the Board secured the approval of all key stakeholders, including the Attorney?General of the Federation and Minister of Justice, Lateef Olasunkanmi Fagbemi, SAN.

“The support of stakeholders ensured that the Agreement meets Nigeria’s legal and regulatory standards.The aspiration of the NCDMB is to deliver a world?class hotel in Yenagoa, Bayelsa State with a fully equipped conference centre—designed to serve the oil and gas industry stakeholders and the Nigerian public”, he said.

He pledged the NCDMB’S commitment to completing the hotel on schedule time and achieving the opening in December, 2026.

“We appreciate our responsibilities—construction quality, pre?opening readiness, funding, safety and security compliance, and maintaining Radisson’s global standard. We will do our best to meet our obligations”, Ogbe added.

The Board’s Scribe charged the Hospitality firm to bring its expertise, systems, and brand strength to deliver a hotel that offers excellent service and guest experience, expressing hope that the partnership with Edison Hotels will create a facility that reflects global quality and supports Bayelsa’s position as an oil and gas hub.

“This project reflects NCDMB’S commitment to using strategic investments to boost productivity, attract investment, build local content, and expand opportunities for business and tourism in Nigeria when completed.

“Radisson Hotel and Conference Center Yenagoa will stand not only as a hotel, but also as a symbol of what strong partnerships can achieve”, Ogbe noted.

In his remarks, Executive Chairman of Edison Corporation, Vivian Reedy described the organisation’s role as a bridge between the owner and the operator, highlighting the group’s intensive experience in the hotel industry, and determination to ensure alignment, transparency, accountability and performance.

“We understand that a successful hotel is not just about buildings. It is about disciplined management, strong oversight, brand integrity, and a shared commitment to excellence.

“Part of our firm’s responsibility is to ensure that the hotel is delivered, operated, and managed in a manner that protects and announces the owner’s investment, while fully supporting Radisson in achieving operational excellence”, he said.

The Edison boss assured that working closely with Radisson and NCDMB’s team, the Radisson Hotel and Conference Center, Yenagoa will become the leading hospitality and conference destination in Bayelsa State, saying it is catalyst for business and investment, and a symbol of quality professionalism and international standards.

He emphasized that the firm has had wonderful successes with Radisson in other locations, even achieving 95% occupancies, noting that the company’s approach is to strengthen governance, support performance, and ensure the interests of the owners are always safeguarded.

“This project represents more than a hotel. It represents a partnership, a trust, and a long-term vision for sustainable value creation. We thank Radisson for its global expertise and operational excellence.

“Edison is fully committed to ensuring that the asset performs strongly, operates efficiently, and delivers lasting value to its owner”, the firm said.

In his speech, the Attorney-General of the Federation Chief Lateef Fagbemi, SAN, representative by Mr. Wada Ahmed Wada described the signing ceremony as historic and wished the parties success in their business relationship.

By Ariwera Ibibo-Howells, Yenagoa

Business

FG engages foreign investors at PEBEC Roundtable on business environment reforms

Published

2 days ago

March 9, 2026

The Tide

Senior government officials and foreign investors operating in Nigeria met in Abuja on Thursday as the Presidential Enabling Business Environment Council (PEBEC) convened the Third Existing Foreign Direct Investors (FDI) Roundtable to address challenges affecting the country’s investment climate.

The high-level engagement, held at the Banquet Hall of the Presidential Villa, brought together top policymakers and representatives of foreign companies for discussions aimed at improving Nigeria’s business environment and strengthening investor confidence.

The roundtable forms part of PEBEC’s efforts to deepen collaboration between government institutions and the private sector while ensuring that ongoing reforms translate into tangible improvements for investors already operating in the country.

Opening the session, Senator Ibrahim Hadejia, Deputy Chief of Staff to the President, welcomed participants on behalf of the Vice President and Chairman of PEBEC, reiterating the Federal Government’s commitment to maintaining a stable and transparent business environment that supports investment and economic growth.

In her remarks, the Director-General of PEBEC, Princess Zahrah Mustapha Audu, said the council remains committed to sustained engagement with investors and coordinated implementation of reforms across government agencies.

She noted that existing foreign investors play a critical role in Nigeria’s economic development through job creation, capital investment, technology transfer, and supply chain development.

According to her, PEBEC’s engagement strategy prioritises listening to investors already operating in the country in order to identify and address operational challenges affecting their businesses.

The roundtable featured presentations and interactive discussions with senior government officials responsible for regulatory and policy frameworks affecting investors.

Among them were the Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji; the Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi; and the Inspector-General of Police, IGP Olutunji Rilwan Disu.

Also participating virtually was Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms and Minister of State for Finance-designate, who spoke on ongoing fiscal and tax reform initiatives aimed at improving tax certainty and strengthening revenue administration.

During the discussions, investors raised technical questions and shared insights on issues relating to security, tax administration, customs procedures and fiscal policy reforms.

Business

MAN warns against illegal recycling of File photo

Published

2 days ago

March 9, 2026

The Tide

The Manufacturers Association of Nigeria has warned against the illegal destruction and recycling of returnable packaging materials belonging to beverage companies, following a recent police crackdown on illegal factories in Anambra State.

Earlier in February, the Nigeria Police Force, working with beverage manufacturers, reportedly raided several illegal facilities in Onitsha and surrounding areas, where individuals allegedly destroyed returnable glass bottles and plastic crates belonging to beverage companies.

In a statement on Friday, the Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, condemned the destruction of these packaging materials as unauthorised and economic sabotage against businesses, and hailed the efforts of the police and regulatory agencies.

“The recent raid is the outcome of sustained engagements and intelligence-led investigations and represents a decisive step by authorities to protect legitimate business operations, uphold environmental standards, and deter further illegal activity,” Ajayi-Kadir said.

The MAN DG described the practice “as criminal and a serious economic sabotage… as assets remain the property of beverage companies that have invested heavily in these sustainable packaging materials to protect the environment”.

According to a Vanguard News report, the Executive Secretary of the Beer Sectoral Group of the Manufacturers Association of Nigeria, Abiola Laseinde, commenting on the February crackdown on alleged factories in Anambra, stated that, “The recent raid is the outcome of sustained engagements and intelligence-led investigations… a decisive step by authorities to protect legitimate business operations, uphold environmental standards and deter further illegal activity.”

Ajayi-Kadir confirmed the earlier news reports, affirming that the police acted on credible intelligence to dismantle illegal operations involving the theft, destruction, and unauthorised recycling of companies’ returnable packaging materials.

He stated that the association received reports from member companies that some factories were destroying company-owned bottles and crates for resale as raw materials, resulting in businesses losing millions of naira in investments.

“The police, working with member companies, acted on credible intelligence and stormed the factories to crack down on illegal disposal, theft, and unauthorised recycling of the returnable packaging materials of the affected companies, notably returnable glass bottles and plastic crates,” Ajayi-Kadir said.

Ajayi-Kadir added that investigations revealed that large quantities of bottles and crates were diverted from legitimate channels into informal recycling networks across the South-East.

“Member companies identified multiple illegal locations in the South-East where they crush our bottles and crates for resale as raw materials, while police investigations showed that significant quantities were being diverted from legitimate channels into informal recycling networks,” MAN’s DG said.

He noted that in several cases, reusable bottles were deliberately broken and plastic crates shredded and sold as raw materials, thereby undermining beverage companies’ circular packaging model.

He remarked, “These Returnable Packaging Materials are company-owned assets designed for multiple reuse cycles and form a critical part of their sustainability, cost-efficiency, and product quality systems. It’s a criminal activity to destroy them.”

Meanwhile, Ajayi-Kadir warned those involved in the illegal practice to desist, stressing that the association would continue to collaborate with law enforcement agencies to ensure offenders face the full weight of the law.

He added that beyond the direct loss of assets, the activities disrupt supply chains, raise operational costs and pose environmental and safety risks due to unsafe recycling practices.

MAN urged relevant government agencies to intensify efforts against the illegal diversion and destruction of returnable packaging materials outside the beverage industry’s value chain.

MAN’s DG also called on members of the public to report suspicious activities to the police or to the consumer care lines of beverage companies.