News
36 Investors Express Interests To Buy FG’s Power Plants
No fewer than 36 power sector investors have submitted Expressions of Interest (EoIs) for the five National Integrated Power Plants (NIPPs) put up for sale by the Federal Government.
The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, told journalists in Abuja, yesterday, that the privatisation of the five NIPP plants was in line with the bureau’s 2021 work plan as approved by the National Council on Privatisation (NCP).
The affected plants are: Benin Generation Company Limited at Ihovba, Edo State; Calabar Generation Company Limited, Cross River State; Geregu Generation Company Limited, Kogi State; Olorunsogo Generation Company Limited, Ogun State; and Omotosho Generation Company Limited, Ondo State.
Okoh revealed that based on the approval of the NCP, the BPE has already engaged the services of a Technical Adviser who would assist the agency in the transaction process.
He added that the Evaluation Committee constituted by the bureau, which also included nominees of the Niger Delta Power Holding Company (NDPHC) has commenced work on the EoIs.
The initial process was for the ten NIPP plants to be privatized.
That process commenced in 2012 and by November, 2013 bidders had submitted technical and financial proposals for their privatisation.
“In the Request for Proposal (RfP), the bidders were informed that they would be required to pay the full purchase consideration for the acquisition of 80% equity in the NIPP generation companies”, Okoh stated, adding that an approval was given through the NDPHC in February, 2016, to proceed with a phased implementation of the programme by negotiating with the Preferred Bidders of the four (4) NIPP generation companies with the least challenges.
However, he noted that the transaction was eventually stalled largely due to the liquidity challenges in the power sector, amongst other factors.
He said that the challenges were being addressed comprehensively by the Federal Government through various programmes like the Presidential Power Initiative (PPI), the World Bank Distribution Intervention Programme (DISREP), the Ministry of Finance and Central Bank’s interventions in addressing the sector’s payments management, as well as, the bottlenecks between the Distribution Companies (DISCOs) and the Transmission Company of Nigeria (TCN).
Meanwhile, workers in the nation’s power sector, on the platform of the National Union of Electricity Employees (NUEE) have served the Federal Government a notice of industrial unrest over planned sale of the Transmission Company of Nigeria (TCN), warning of its threat to national security, among others dangers.
Already, Nigeria Labour Congress (NLC), which had earlier rejected the plan to sell the TUC, declared “Operation Save TCN from the Enemies of Nigeria” and full support for the workers’ action.
The NLC, through its President, Comrade Ayuba Wabba, called on the National Assembly and other well-meaning Nigerians to join forces with labour and stop any attempt to sell TCN to private individuals to the detriment of the Nigerians.
The NUEE, in a statement by its General Secretary, Comrade Joe Ajaero, argued that “leaving the nation’s full power architecture in the hands of private business owners, who lack the expertise to own and run critical economic assets, poses serious security risk to the nation, as we will be driven by the wimps and caprices of the ‘harvestors’.”
Ajaero contended that the enemies of Nigeria had once deceived the country to grant about N1.5trillion to the same private individuals the government sold its distribution and generation facilities to, at a ridiculous rate of not more than N400billion.
He lamented that almost eight years after the privatisation of the power sector, there had not been any visible improvement in terms of power supply, expansion or investments by the new owners of the DisCos and GenCos.
The NUEE general secretary fingered “Three key officers working with a few vested interest in the Ministry of Power, who do not understand the concept in power generation, transmission and distribution, to carry out their selfish personal privatisation agenda and milk the nation off its vital economic assets.”
According to him, “Why would the Federal Government want to privatise TCN with the improvement made in terms of expansion and strengthened transmission network? The five-yearly performance appraisal process provided for in the Electric Power Sector Reforms (EPSR) Act, 2005, has been jettisoned despite calls by Nigerians to review the performances of the sector players.
“A dime has never been declared as profit for government’s 40% asset ownership in the privatised companies till date, yet it remains a pitiable tale of ‘private gain, public disaster. We had alerted the Federal Government and Nigerians against going into a fraudulent/fictitious agreement with SIEMENS towards improving transmission capacity to a level which the existing nation’s transmission capacity had surpassed.
“It will be recalled that in December, 2019, the Union embarked on an industrial action over non-implementation of agreements reached with the Federal Government over the 2013 privatisation and other salient issues bedevilling the power sector. Despite the intervention of the leadership of the National Assembly and the Ministry of Labour, the Ministry of Power in its deep slumber is still busy pursuing rats when its house is on fire.
“This statement serves as notice to Nigerians that the union will resume its suspended industrial action for the non-implementation of the agreements. Besides, the plan to further enslave Nigerians based on hemlock prescriptions of the IMF, World Bank and Britton Wood institutions will meet the resistance of the masses and workers of Nigeria, who lost their jobs in thousands, some without pay and Nigerians who have been paying for darkness with the over 400 percent tariff increase for services not rendered.
“With the non-implementation of the agreements reached with labour eight years after, worsening power supply situation, exploitative tariff imposition on toiling people of Nigeria, and projected 200 percent increase in tariff in the first year of TCN privatisation, the struggle will be between the oppressors and the oppressed,” they stated.
News
Your Resilience Has Kept You Afloat, PHALGA Boss Tells RSNC … Says The Tide Remains Long-Term Partner
Ihunda, who said this during a courtesy call by the management of RSNC, said the council was elated that The Tide has consistently remained on the newsstands for more than 50 years, adding that the council was looking forward to joining in the celebration of the golden jubilee anniversary of the corporation.
The mayor, who was represented by the council Secretary, Barrister Chile Kay Owuru, said The Tide has continued to deliver on its mandate and serve the Government and people of Rivers State in spite of obvious challenges.
He also praised the newspaper for standing behind the council during the recent struggle to ensure that the provisions of the Constitution were no longer brazenly breached by the Federal Ministry of Internal Affairs, which had been conducting marriages at illegal Marriage Registries across the country.
Ihunda also said the council would work to ensure that all commercial transport vehicles operating between #1 to 10, Ikwerre Road and under all parts of the Abali Flyover relocate to the main Abali Motor Park, which has been renovated and upgraded by the council to accommodate more vehicles.
He regretted that the commercial transport and illegal business activities taking place around the area have facilitated the operations of criminal elements who have been terrorising unsuspecting members of the public, and assured that the council was synergising with relevant authorities to restore sanity to the area.
The mayor also assured that the public health issues associated with the huge refuse dumpsite at Njemanze Street in Rumuwoji (Mile One) area would be addressed.
Ihunwo further promised to work out partnership strategies that would enable both the corporation and the council mutually leverage the opportunities that abound in the RSNC’s Business Development portfolio, especially in the area of commercial printing jobs, among others.
Earlier, the General Manager of the corporation, Chief Ernest Chinwo, said the meeting was initiated with the understanding that the mayor would use his position to facilitate mutually beneficial engagements between the council and the RSNC while also creating value added window to interact with the membership of ALGON in the state with a view to eliciting their support and partnership to boost the corporation’s fortunes.
Chinwo said every Rivers man should be proud of The Tide as the only surviving state-owned newspaper regularly in the newsstands since its founding, noting that the newspaper has continued to wax stronger despite all the challenges since it was established in 1971.
According to him, The Tide was the only surviving paper on South-South and South-East that has been regular on the newsstands, saying that the corporation was not only involved in newspaper publishing but also undertakes all kinds of printing jobs.
The general manager also called on the mayor to look into the health hazard posed by the refuse dumpsite at Njamanze Street, stressing that the site has recently constituted serious threat to the health of the people in the area.
He also called the attention of the mayor to the proliferation of illegal motor parks and markets around the Abali flyover and along the rail line, adding that criminals have used the area as fertile ground for perpetrating all kinds of unwholesome activities.
By: John Bibor
PDP National Publicity Secretary, Debo Ologunagba, stated this, yesterday, during a sensitisation campaign for the collection of Permanent Voter Cards (PVC) in Abuja.
The party’s national publicity secretary; National Women Leader, Prof. Stella Effa-Attoe; and National Youth Leader, Mohammed Sulieman; led the campaign around the streets of the Federal Capital Territory (FCT).
Ologunagba said the campaign was to sensitise Nigerians, particularly youths and women on the need to participate actively in the democratic process by collecting permanent voter cards and ensuring that they participate in the 2023 general election.
He said, “Against the backdrop of the fact that we have an APC government that is insensitive, that is rudderless, that completely failed this country, they lied to us in 2015, came to power by fraud and propaganda.”
Ologunagba lamented that the APC-led Federal Government has made life difficult for most Nigerians.
He said, “As the party of the people that believe in the sanctity of life and that our children need the future where on their own, they can achieve their goals and live a life where they can aspire to be anything in Nigeria.
“So, we are urging all youth and women to come out en mass to pick up their PVCs and those who have not registered to take advantage of the window now available by Independent National Electoral Commission (INEC) to come out and register”.
He assured the electorate that their votes will count in 2023, adding that “we have seen how APC has destroyed the country, get your PVC and vote them out”.
Also speaking, the PDP National Youth Leader, Mohammed Suleiman, said the failure of the APC government was enough to motivate Nigerians to kick them out.
“We have seen what is happening in the country, the rate of unemployment, insecurity, students, is at home for over five months and the economy is messed up. So, we believe those comments you’re seeing on social media will turn to vote come 2023.
“We have 36 state youth leaders, we have six zonal leaders, we’re all working together to mobilize Nigerians so that they can vote for the PDP come 2023″.
Komolafe gave the charge at the opening dinner of the ongoing Nigerian oil and gas conference holding in Abuja, yesterday.
According to him, local players now have a golden opportunity to prove their mettle by leveraging the local content window in value addition and optimising the development of the nation’s hydrocarbon resources.
He emphasised the need for indigenous players across the value chain to deploy their ingenuity in promoting vibrancy and capacity utilisation in the industry
“As a regulator, the commission is not oblivious of the threat posed to the development of the Nigerian hydrocarbon industry by the divestment of the IOCs.
“The impetus for divestment by the IOC is mainly attributable to the hostile upstream petroleum environment arising from crude oil theft and energy transition as a global response to the advocacy for reduction in carbon emissions.
“Our view as a commission is that IPPG and other prospective indigenous players should perceive the IOCs’ divestment in some of the upstream assets as an opportunity rather than a threat to the development of the Nigerian upstream petroleum sector,” he said.
Speaking further, Komolafe noted that indigenous companies presently contribute about 30percent of the nation’s crude oil and 20percent of the gas production, as well as 40percent and 32percent of oil and gas reserves, respectively.
He also informed that seven indigenous companies are among the top 20 companies with the highest oil reserves in Nigeria.
He further disclosed that 57 fields were offered for awards in 2020 to indigenous operators, resulting in the issuance of 102 Petroleum Prospecting Licenses (PPLs) by the commission on June 28, 2022.
“It is worthy to note that Nigeria has the largest participation of local independents in the domestic oil and gas industry activities of all petroleum-producing countries in Africa arising from the robust local content policy.
“It is estimated that the energy demand across Africa in 2040 would increase by about 30percent compared to the current level. Consequently, the divestment of the IOC away from our onshore and shallow water terrains presents a massive opportunity for new operators of those assets, which the IPPG is better positioned to take advantage of in order to meet the increasing energy demand.
“The commission expects the IPPG to stay competitive, optimise future energy security and be resilient in our oil and gas extractive industry”, Komolafe stated.
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