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GenCos Fault NERC Over N1.7trn Shortfall Funding Plan

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The electricity generation companies (GenCos), yesterday, raised the alarm over the Federal Government’s failure to make plans on how to fund the N1.7trillion shortfall in either the annual budget or in the 2015 Multi-Year Tariff Order (MYTO).
Speaking for the generator firms in a statement, yesterday, under the umbrella of Association of Power Generation Companies (APGC), the Executive Director, Barrister Joy Ogaji, urged the government to mention its funding initiative for the shortfall.
The spokesperson of the GenCos said that, “Generation companies have raised concerns regarding the tariff review, scheduled to be effective on the 1st of April, 2020. The GenCos concerns relates to the fact that NERC has not captured all the ‘changes’ in the relevant macroeconomic variables and available generation capacity in updating the operating MYTO-2015 in line with the provisions of the MYTO Methodology.
“The seeming gaps are shown through the four parameters considered in the minor review namely: inflation, interest rates, exchange rates and generation capacity as it affects or impacts our business.
“Dealing with market shortfall holistically, we are concerned about the financing of the shortfalls, given that there is no provision in the 2019 or 2020 budget. What is the PSRP financing initiative?
“What is not clear is who will take charge of the financing plan. Do these plans and facilities even exist? If so, what are the terms under which they were created, if not in existence, right now, who is working to create them and when would they be ready?”
It would be recalled that the commission had revealed its plans to stop the payment of any form of tariff support except for the less privileged in the sector by 2021.
In its memo titled “Consultation paper on the proposed extra -ordinary tariff review of the MYTO-2015 Tariff Order for the Nigerian Electricity Supply Industry (NESI)”, NERC said that it had intervened in shortfall payment of N701billion in 2017 and 2018 and another N600billion approved between 2019 and 2020, totalling N1.7trillion support for the sector since 2015.
The commission, however, submitted in the memo that, “While the intervention so far represents an unsustainable fiscal burden on the Nigerian treasury, the total tariff-related revenue shortfall for all market participants for the period 2015 – 2019 is in the sum of ¦ 1.72trillion.”
But Mrs. Ogaji, yesterday, asked the NERC to explain how it arrived at the MYTO review that refused to capture the shortfalls in the sector.
She was worried about the inequitable manner of the remittances requirements of the review tariff order.
According to her, whereas the tariff review makes provision for GenCos to receive 36 per cent of their revenue requirement, the DisCos are to receive 100 per cent of theirs.
Ogaji said that “Equitability: DisCos Remittance Water fall for year 2020 of the minor review indicates that GenCos on average will receive 36 per cent of their revenue requirement while DisCos will receive 100 per cent if they fulfil their obligations.
“Why this difference? What’s the justification behind GenCos getting 36 per cent of their revenue requirement, while the DisCos receive a 100 per cent if it just manages to make the minimum remittance which from our investigation DisCos have not adhered to?”
The GenCos also asked the commission to address the issue of previous failed reviews and state how to make a difference in the current review.
She said that “Framework for monitoring and enforcement: The regulator needs to address the issue of previous failed reviews and how this review will be different in terms of effectiveness/implementation. The GenCos will further appreciate if the regulator can critically look into the following:
“The issue of the requirement for DisCo revolving letter of credit to NBET. Is any modality in place to ensure that the DisCos provide the required three months revolving letter of credit? If not, this review is as good as the rest!
“There has to be an effective mechanism for the payment of revenue shortfalls outside the current best endeavour conjecture. Payment delayed is payment denied, and the cost of such delays should serve as an input to the tariff in the form of cost to the GenCos (considering the time value of money).
“Are there back-to-back data from the DisCos, including trend analysis, to support the ability to distribute such levels of energy? Relative to proof of DisCos investments in capacity improvements tied to such levels of energy delivery improvements.”

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RHI: First Lady Gives N50m Business Grants To Rivers PWDS, Disabled Veterans  …As RGS Unveils Free Medical Services For Vulnerable Persons

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Nigeria’s First Lady, Senator Oluremi Tinubu, has extended a major financial lifeline to Persons with Disabilities (PWDs) and disabled veterans in Rivers State.

The support comes under the Renewed Hope Initiative (RHI) Social Investment Programme, a nationwide economic empowerment effort.

The event, held on Wednesday at the Banquet Hall of the Government House, Port Harcourt, coincided with the 2025 International Day of Persons with Disabilities, with the theme: “Fostering disability inclusive societies for advancing social progress”.

Wife of the Rivers State Governor, Lady Valerie Siminalayi Fubara, who represented the First Lady of Nigeria, presented the small business grants to the beneficiaries.

The RHI empowerment effort covers all 36 states, the Federal Capital Territory (FCT), and the Defence and Police Officers’ Wives Associations (DEPOWA).

Each jurisdiction will have 250 PWDs receive a N200,000 Business Recapitalisation Grant per beneficiary, amounting to N50million. In total, with N1.9 billion being disbursed to 9,500 PWDs across Nigeria.

Expressing delight at unveiling the programme under the RHI Social Investment Framework, Senator Tinubu noted that the launch was intentionally scheduled for the International Day of Persons with Disabilities.

She emphasised the administration’s commitment to inclusive growth, stating that the nation becomes stronger when all citizens are empowered to contribute.

According to the First Lady, “Our commitment to improving lives has also been demonstrated through various interventions in

Agriculture, Economic Empowerment, Education, Health, and Social Welfare, aimed at improving the well-being of families across our country. To all our beneficiaries, I encourage you to make good use of this opportunity.”

Mrs Tinubu said that the programme aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which seeks to promote inclusive growth and shared prosperity by ensuring that no Nigerian is left behind, especially those whose needs are often overlooked.

She announced that the RHI Governing Board has approved making the Economic Empowerment Programme for PWDs an annual event every December 3.

She thanked the Governor of Rivers State, Sir Siminalayi Fubara; and his wife, Lady Valerie Fubara, for their support, and encouraged the beneficiaries to make good use of the opportunity.

In her speech, Wife of Rivers State Governor, Lady Valerie Siminalayi Fubara, assured that the Renewed Hope Initiative in the State will collaborate with the National Commission on Persons with Disabilities to promote an inclusive society where the rights and privileges of persons with disabilities are guaranteed.

She said that the celebration of the 2025 World Disability Day, reaffirms the government’s commitment to create a more just, inclusive, equitable and sustainable State, where no one is left behind.

Lady Fubara also delivered a strong message of empowerment to the beneficiaries, saying “You are not defined by limitations. You are defined by your strength, your creativity, your persistence, your brilliance, and your unique contribution to this State.”

She urged society to champion inclusion, noting that disability is not a tragedy but that discrimination, silence, and exclusion are.

The governor’s wife confirmed that 250 beneficiaries in Rivers State received the N200,000 grant, and urged all the beneficiaries to utilise the funds wisely.

“Let it be a seed that grows into something greater; a business that sustains you and your family,” she said.

Also speaking, Executive Secretary, Rivers State Contributory Health Protection Programme, Dr Vetty Agala, announced the enrollment of the 250 persons with disabilities into the state’s contributory health protection programme, adding that the beneficiaries will now enjoy free medical care and services at primary, secondary and tertiary levels in the State.

“You’re going to not only access primary care, but anytime you require secondary or tertiary services, you will be referred to those levels of care at no extra cost,” in line with the government’s “Health For All Rivers Initiative,” she said.

In her own remarks, Permanent Secretary of the Rivers State Ministry of Social Welfare and Rehabilitation, Mrs. Lorenta Davis-Dimkpa, stated that efforts are underway to establish a South-South office for the Disability Commission.

She also confirmed that there was an ongoing work to domesticate the 2018 Disability Act.

In her goodwill message, former Justice of the Supreme Court, Justice Mary Odili (rtd), commended both the Federal and Rivers State governments for taking bold steps to ensure persons with disabilities are included in governance.

Earlier in her speech, the State Coordinator of the Renewed Hope Initiative, Hon Tonye Briggs Oniyide, had said that the programme was carefully designed to address the needs of persons with disabilities and disabled veterans, helping them upscale their businesses across the State.

Speaking on behalf of the beneficiaries, Kie Obamanu, called for the full implementation of disability laws to eliminate discrimination.

He expressed gratitude to Nigeria’s First Lady and the wife of the Rivers State Governor for their support.

Highlight of the event was the presentation of the Universal Health Coverage Ambassador Award to Lady Valerie Fubara by the Rivers State Ministry of Health, in recognition of her contributions to improving access to healthcare services in the State.

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Fubara Assures Greater Collaboration With Navy 

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Rivers State Governor, Sir Siminalayi Fubara, has assured greater collaboration with Navy and other security agencies in combatting crimes and criminality in the State.

 

The governor also hailed the appointment of Vice Admiral Idi Abbas as the Chief of Naval Staff, saying he will deliver on his mandate based on his track record of excellence and meritorious service.

 

Fubara gave this assurance when Abbas and his team paid the governor a courtesy call at the Government House, Port Harcourt, yesterday.

 

The governor also commended the efforts of the Nigeria Navy in tackling criminality on Rivers waterways and protecting critical national assets.

 

He emphasized the need for more security surveillance on Rivers State coastal environments to safeguard lives and properties.

 

According to him, the Navy’s superior technology, manpower, and tactical competence are vital to protecting the state’s vast waterways.

 

“We need to work together for us to succeed,” he said, stressing that collaboration remains the most effective way to keep residents, assets, and the environment safe.

 

Pointing out the strategic significance of Rivers State as the hub of Nigeria’s crude oil and coastal infrastructure, Fubara commended the Navy for its continuous efforts in preventing losses to lives, livelihoods, and the ecosystem, and assured the service of the government’s sustained cooperation and support.

 

On his part, Abbas said his visit was part of a nationwide tour aimed at assessing operational readiness across naval formations since assuming command on October 30, 2025,

 

The new Naval Chief noted that Rivers State hosts several critical energy installations that fall under the Navy’s mandate to protect, adding that the state also remains central to the Navy’s training operations, with several key units located within its territory.

 

Abbas commended Governor Fubara for the State’s consistent support, citing the provision of six gunboats and the donation of a school building as significant contributions that have boosted the Navy’s operational efficiency.

 

He appealed for continued collaboration as the Navy intensifies efforts to secure the maritime domain.

 

Taneh Beemene

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Fubara Tasks Traditional Rulers On Peace, Security …Says Education, Job Creation ‘ll Receive Boost In 2026 Budget

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Rivers State Governor Sir Siminalayi Fubara has declared that amidst glaring challenges, his administration has remained determined and focused to dispense good governance and put in place the needed development in the State.

 

The governor disclosed this while addressing the 123rd and 124th combined quarterly general meeting of the Rivers State Council of Traditional Rulers at the Council Secretariat on Monday.

 

Fubara who commended the traditional rulers for their supports and efforts in promoting peace and development in the State, urged them to live up to their roles as custodians of peace by becoming alert and more vigilant in their domains to tackle the menace of insecurity especially in boundary communities.

 

He advised the traditional rulers to work with local government chairmen and security agencies to safeguard lives and properties in their domains.

 

“Let me thank everyone of you from the bottom of my heart, I met you in Government House to say a big thank you, because the royal fathers stood as fathers in our most trying moments.

 

“I say thank you again for your support, for understanding that your role is fatherly role, and one of the reasons you were elected or selected to be head is to bridge the gap in terms of crisis, and to play fatherly role when called upon. Thank you for ensuring that peace reigns in Rivers State,” he said.

 

The governor reaffirmed his commitment towards the protection of lives and property in the State.

 

“Our vision is to ensure that Rivers State is safe, our vision includes the provision of good health care services, which we are doing, the records are there, people from the south east are witnessing what is happening in the Zonal Hospital in Bori, presently. I’m sure that before the end of this year, the Omoku and Ahoada Zonal Hospitals will be commissioned while Degema is 80% completed, we’re not just talking, we’re doing it,” he said.

 

Fubara, however, dismissed speculations making the rounds on the issue of 10,000 jobs, urging the public to discountenance the false information.

 

He assured that employment will be carried out in the state based on needs, and not on political considerations.

 

He disclosed that the 2026 budget will make provision for job creation and the refurbishment of schools in the State which, he noted, are currently in deplorable conditions, having given due consideration to roads and the health sector.

 

“Let me use this medium to address an issue, I saw some people sending messages to my WhatsApp, they want to protest against 10,000 jobs, they claim was included in the budget, which budget? We are going to employ based on the needs of the state, I’m not going to employ politically to please anybody,” he assured.

 

The governor promised to address the requests of the traditional rulers, and charged them to ensure that their meeting brings out a strong position that will make the State stronger.

 

Earlier in his welcome address, the Chairman of the Rivers State Council of Traditional Rulers, and Eze Oha Apara 1V, of Apara Kingdom, HRM Eze Chike Amadi Worlu-Wodo, thanked the governor for personally attending the meeting.

 

The royal father restated the support of the traditional rulers to the State Government, and presented some requests of the Council to the governor.

 

“Your Excellency, the news that we have received all over the State is quite cheering and symbolic of the peaceful life and developments that Rivers people yearn for in the State. You have brought back those glorious old days of harmonious living and peaceful coexistence the way it was. May the Almighty  God bless you and help you to sustain this laudable feat,” the royal father prayed.

 

In his remarks, the State Commissioner for Chieftaincy Affairs , Egnr.Charles Amadi, expressed gratitude to the governor for his developmental strides in the State, and also commended the traditional rulers for their unwavering commitment towards promoting peace in the State.

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