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Energy Crisis: NBET Pays GenCos N39bn For Jan
The Nigerian Bulk Electricity Trading Plc (NBET), yesterday, disclosed that it has paid power generation companies (GenCos) N39billion for power generated in January.
NBET, said at the weekend that the GenCos would be paid another N9billion from the Power Sector Reform Programme soon.
The company noted that the amount was paid despite the electricity distribution companies (DisCos) remitting only 51percent of their invoice during the same period.
“NBET paid N39billion to GENCOs in first tranche of payments towards the settlement of January 2022 Payment Cycle. DisCos performance for same period is 51percent.
“Another N9billion from the PRSP has been approved and processed by NBET as further payments to the GenCos”, it added.
The latest payment brings to over N80billion paid to the GenCos in the last two months. NBET said it expects the GenCos to also make similar payments to the gas suppliers.
The GenCos had in the past two weeks blamed their inability to generate more power to the grid on the indebtedness of NBET to them.
Checks on the national grid performance showed that as at 3pm, yesterday, only 13 of the nation’s 32 power plants were generating 2,054.70megawatts with Azura-Edo plant highest at 399MW and Geregu (gas) at 394MW.
However, the Minister of State Petroleum Resources, Chief Timipre Sylva has said that Nigeria was ready to step in as alternative gas supplier to the European Union following sanctions against Russia over its invasion of Ukraine.
Sylva stated this when EU ambassadors to Nigeria led by Amb Samuela Isopi visited him in Abuja.
The minister explained that “one of the things we warned against earlier was the speed with which EU was taking away investments in fossil fuels. We warned that the speed was faster than they were developing renewable energy. You can see now that what we were warning against is what is happening now”.
He told the delegation that what has stunted the growth in the development of gas in Nigeria has been the lack of fresh investments, and called for a change of attitude if the request by the EU to increase supplies to Europe is to be realised.
“One of the biggest problems we have in the sector has been investments. In the last 10 years, over $70billion worth of investments came to Africa but sadly less than $4billion came to Nigeria and surprisingly we are the biggest in Africa. If we cannot attract investments in Nigeria, you know where we are heading.
“You have been our long-time friend. As at today, our gas reserve is one of the biggest in the world. We have a proven gas reserve of 206tcf and if we really focus on gas exploitation we can get up to 600tcf. Nigeria is arguably the best territory to invest.
“We are already building gas infrastructure such as the Ajaokuta-Kaduna-Kano (AKK) pipeline project which is expected to take gas to Algeria and the West Africa Gas Pipeline project designed to take gas to Morocco. As you can see we are already building infrastructure that will take gas to Europe. All we need is investments. We acknowledge that there are challenges in the sector but we should partner to help solve the problem”, Sylva further stated.
In her response, leader of the EU ambassadors to Nigeria, Amb Samuela Isopi, urged Nigeria to take advantage of the opportunity offered by the present crisis in Europe to shore up gas supplies to Europe.
She appealed to Nigeria to step into that gap supply chain as an alternative to Russia, adding that the country must not allow the opportunity to pass it by.
While reflecting on the security situation in the Niger Delta that drastically impacted on gas supply in the last few years, Isopi urged the Nigerian government to step up security in the region to guarantee gas supply to EU member states.
She particularly expressed concern over the spate of attacks on Shell, Eno and TotalEnergies’s gas infrastructure that led to the declaration of force majure by the companies, and noted that the development was of great concern to Europe.
“The recent developments in the Niger Delta is of great concern to us,” she said adding that the EU was, however, reassured by the recent visit by Sylva and other top government officials to the site of the vandalised infrastructure in the region.
The Federal Government Staff Housing Loans Board says it has begun the compilation of list of retired civil servants who have defaulted on the full repayment of housing loans obtained.
Head of Information and Public Relations, FGSHLB, Mrs Ngozi Obiechina, disclosed this in a statement in Abuja, yesterday.
Obiechina quoted the Executive Secretary of the Board, Mrs Salamatu Ahmed, as saying that the move was aimed at recovering mortgaged properties from retirees who failed to meet their loan obligations.
Ahmed noted that the decision followed a recent memo issued by Mrs Patience Oyekunle, Permanent Secretary, Career Management Office, Office of the Head of the Civil Service of the Federation.
According to her, the memo reminded public servants of the mandatory requirement to obtain a Certificate of Non-Indebtedness to the FGSHLB and MDA Staff Multipurpose Cooperative Society as a precondition for retirement.
The Executive Secretary said that the board would take necessary legal steps to repossess properties where applicable, in line with the terms of the loan agreements.
She said this was in line with the provisions of the Public Service Rules 021002 (p), issued by the Office of the Head of the Civil Service of the Federation.
“I am directed to bring to your attention the provision of Public Service Rule (PSR) 021002 (p), which mandates all public servants to obtain a Certificate of Non-Indebtedness as a prerequisite for retirement.
“The Federal Government will commence the seizure of mortgaged properties belonging to retiring federal public servants who have failed to fully repay housing loans obtained from the board,” she said.
Ahmed explained that the FGSHLB reserves the legal right to repossess any mortgaged property in cases where a public servant exits service without fully repaying the loan.
She reiterated that the directive also applied to already retired officers who were still indebted.
She urged all affected public servants to regularise their loan status and obtain the required clearance certificate without delay.
“The board is currently compiling a list of such retirees, which will be forwarded to relevant regulatory agencies for debt recovery.
“The FGSHLB remains committed to enforcing compliance and ensuring proper loan recovery procedures are followed, “ she added.
The Federal Government has kicked off a three-day induction programme for newly appointed Permanent Secretaries and the Accountant-General of the Federation, aimed at equipping them for strategic leadership and effective policy implementation.
The induction, according to a statement yesterday by the Director, Information and Public Relations, Federal Ministry of Information and National Orientation, Eno Olotu, which commenced on Wednesday, is being held at the National Counter Terrorism Centre in Abuja.
Speaking at the opening session, the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, congratulated the new appointees and described their roles as pivotal to governance and national development.
“Permanent Secretaries are the engine room of the government. They are critical to driving policy implementation, institutional performance, and reform across the service”, she said.
The Federal Government has kicked off a three-day induction programme for newly appointed Permanent Secretaries and the Accountant-General of the Federation, aimed at equipping them for strategic leadership and effective policy implementation.
The induction, according to a statement yesterday by the Director, Information and Public Relations, Federal Ministry of Information and National Orientation, Eno Olotu, which commenced on Wednesday, is being held at the National Counter Terrorism Centre in Abuja.
Speaking at the opening session, the Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, congratulated the new appointees and described their roles as pivotal to governance and national development.
“Permanent Secretaries are the engine room of the government. They are critical to driving policy implementation, institutional performance, and reform across the service”, she said.
“The expectations are high, and the responsibility is immense. But with commitment and teamwork, we can deliver a more efficient, accountable, and citizen-centred public service.
“This final lap of FCSSIP 25 calls for urgency, accountability, and strategic focus. You must translate vision into measurable results,” she stated.
In her welcome address, the Permanent Secretary, Career Management Office, Mrs. Fatima Sugra Tabi’a Mahmood, described the programme as a strategic investment in leadership capacity and institutional effectiveness.
The sessions featured expert-led discussions, simulations, and strategic briefings facilitated by a distinguished faculty, including Engr. Suleiman Adamu, former Minister of Water Resources; Dr. Hadiza Bala Usman, Special Adviser to the President on Policy and Coordination; Mrs. Beatrice Jedy-Agba, Solicitor-General of the Federation and Permanent Secretary, Federal Ministry of Justice; Alh. Yusuf Addy, retired Federal Director; Alhaji Bukar Goni Aji, former Head of the Civil Service of the Federation; Amb. Mustapha Lawal Suleiman, Mr. Adesola Olusade, and Dr. Ifeoma Anagbogu, all retired Permanent Secretaries.
Participants include Dr. Obi Emeka Vitalis, Mrs. Fatima Sugra Tabi’a Mahmood, Mr. Danjuma Mohammed Sanusi, Mr. Olusanya Olubunmi, Dr. Keshinro Maryam Ismaila, Dr. Akujobi Chinyere Ijeoma, Dr. Umobong Emanso Okop, Dr. Isokpunwu Christopher Osaruwanmwen, Mrs. Oyekunle N. Patience, Dr. Kalba U. Danjuma, Mr. Nadungu Gagare, Mr. Onwusoro I. Maduka, Dr. Usman Salihu Aminu, Mr. Ogbodo Chinasa Nnam, Mr. Ndiomu Ebiogeh Philip, Dr. Anuma N. Ogbonnaya, Mr. Adeladan Rafiu Olaninre, and Mr. Mukhtar Yawale Muhammed, alongside the Accountant-General of the Federation, Mr. Shamseldeen Babatunde Ogunjimi.
The induction programme will feature sessions on public sector leadership, policy delivery, ethics in service, digital transformation, and performance management.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that a forensic audit of the Nigerian National Petroleum Company Limited (NNPCL) will begin soon.
Edun revealed this at the ongoing Nigerian Investor Forum, held alongside the IMF/World Bank Spring Meetings in Washington DC.
The minister explained that the recent changes in the NNPCL management are part of a broader effort by the Federal Government to clean up and examine the company closely.
While addressing top global investors, including representatives from J.P. Morgan, Edun shared key reforms the government has introduced to revive the economy and restore investor confidence.
He told the investors that the government’s bold economic steps have laid a strong foundation to attract private investment.
He stated, “Our goal is not just to maintain this momentum, but to accelerate it. We are targeting seven per cent annual growth, and we believe the policies we have implemented have laid the groundwork to achieve this.”
Edun highlighted that President Bola Tinubu’s administration has rolled out major reforms that are already making a difference.
He added that the Nigerian economy grew by 3.84 per cent in the fourth quarter of 2024 and recorded a 3.4 per cent growth for the year.
Edun further stressed the importance of the reforms, describing them as “unprecedented,” adding that, “We said we would do it, and now we have done it. This time, we’re staying the course.”
He pointed out signs of progress such as lower budget deficits, a better trade balance, and a more stable exchange rate.
He also said that the focus is now on growing key sectors, especially agriculture.
According to Edun, agriculture is at the top of the government’s agenda, with the aim of improving food supply and increasing productivity.
“We aim to close the food supply gap, not by importing more, but by enabling domestic producers to scale and innovate,” he said.
On infrastructure, Edun revealed that the government has rolled out 90,000km of fibre optic cable to improve internet access.
He said this move is crucial for supporting young Nigerians and tech startups.
He also noted that 4,000km of roads have been offered for private sector participation, with the first 1,000km already approved for construction.