Business
Expert Decries Absence Of Technology To Boost Electricity Distribution

An Engineer, Kenechukwu Agu, has decried his inability to deploy the technology that could boost revenue for electricity distribution companies (DISCOS) and slash the electricity bills for consumers, three years after it gained endorsement of the National Electricity Regulatory Commission (NERC).
The technology was approved by NERC in 2017 for use. The Commission had gone further to recommend that its pilot scheme project should begin with Enugu Electricity Distribution Company (EEDC) before it could be replicated to the other DISCOS across the country.
The design is expected to eliminate electricity theft; lead to an era of slash in electricity bills (tariff) across the nation, create employment; stimulate the economy and revamp the power sector by making it more profitable for investment.
Speaking with journalists in Enugu, Agu, the Managing Director of EVANPOWER Engineering, said the Nigerian Breweries Plc has refused to pay for his blueprint even after consenting to having custody of it and appropriating it.
In addition, Agu said the Nigerian Breweries Plc also refused to pay for all the works his company executed in the Access Control Systems project at Ama Brewery, Enugu.
Agu insisted that the “confiscation of his blueprint and the refusal” by the Nigerian Breweries Plc to pay for it alongside the works we executed on the Access Control Systems at Ama Brewery has stalled the implementation of his technology for the nation and jeopardized his company operations.”
Agu said that the Nigerian Breweries Plc is indebted to him to the tune of over N753million made up of over N3millon for works on the Access Control Systems, as well as N750million for non consented custody and appropriation of his intellectual property without his knowledge, consent, permission, authority and approval.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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