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

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

2 days ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

2 days ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

1 week ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.