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Energy Crisis: NBET Pays GenCos N39bn For Jan

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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.

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We’re Vigilant, Steadfast In Preserving Peace, Stability Of Rivers – Fubara …Lays Wreath To Mark 2025 Armed Forces Remembrance Day 

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Rivers State Governor, Sir Siminalayi Fubara, has pointed to the robust government-security agencies’ collaboration that has greatly helped in achieving the reassuring peace and stability enjoyed in the State.

 

The Governor also described such feat to divine help, insisting that without the grace of God, every human effort and strategies would have come to naught.

 

Governor Fubara spoke at the venue of events climaxing the 2025 Armed Forces Remembrance Day Celebration at Government House in Port Harcourt on Wednesday.

 

Earlier at the parade ground in Isaac Adaka Boro Park, Governor Fubara inspected the guard of honour mounted by officers of the Armed Forces and security agencies.

 

He also laid the wreath alongside his Deputy, Speaker of the Rivers State House of Assembly, State’s Chief Judge and Service Commanders, chairman of the State Traditional Rulers Council, acting chairman of the State chapter of Nigerian Legion and a representative of widows of the fallen heroes. Governor Fubara also released the pigeons to signify peace.

 

Governor Fubara emphasised the role every Nigerian must play in achieving enduring peace and security as they continue to support the Armed Forces and security agencies in overcoming security challenges that confront the country.

 

He said: “Rivers State has enjoyed significant peace and stability under this administration, a testament to the collaboration between the government and security agencies, as well as the grace of God.

 

“We remain vigilant and steadfast in preserving this peace and will continue to provide the necessary support to security formations in the State to ensure they can effectively discharge their duties.

 

“I call on every citizen to rally around our Armed Forces and work together to strengthen our national unity. We must ensure that every section of our country feels included and valued, fostering a stronger and more cohesive Nigeria.”

 

Governor Fubara commended President Bola Ahmed Tinubu for his efforts in modernizing and prioritizing the welfare of the Nigerian Armed Forces.

 

The Governor offered the assurance of his administration to remain loyal, supportive while collaborating with the Federal Government in achieving better and improved welfare for men and officers of the nation’s security agencies.

 

Governor Fubara noted that while Nigeria has endured the trials of civil war, it has continued to tackle the internal threats from terrorism and armed insurgency, saying, “Through it all, our Armed Forces have stood resolute defending us, keeping peace, upholding our nation’s integrity, and ensuring the survival of our beloved country.

 

“Even as we speak, our servicemen and women remain on the frontlines, courageously combating insurgencies and other threats to our security. Today, we gather to reflect on and celebrate the bravery of our veterans, whose dedication has safeguarded our nation’s territorial integrity and preserved its sovereignty.”

 

Governor Fubara said that without the heroism of these gallant servicemen and women, Nigeria would not be what it is today, either would the people enjoy the prevailing freedoms and peace that are often taken for granted.

 

The Governor recommitted his administration to supporting the legionnaires and families of the fallen heroes, and pledged the sum of N50million to the widows to enable them scale up their economic activities, pay rents and solve other problems of their families.

 

In his speech, the Acting Chairman of Nigeria Legion, Rivers State Chapter, ACC Kuu Aminkipo Promise, expressed appreciation to Governor Fubara for his immeasurable financial support to members of the legion, which has sustained their livelihoods and kept their wards in school.

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Tinubu congratulates Nigerian scientists, engineers on making Biden’s honour list

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President Bola Tinubu has congratulated six Nigerians named by President Joe Biden among the 400 recipients of the Presidential Early Career Award for Scientists and Engineers (PECASE) in the United States.

This recognition, established by former President Bill Clinton in 1996, is the highest honour bestowed by the United States government on outstanding scientists and engineers in the early stages of their careers.

This year’s awardees, announced by Biden on Jan. 14, are employed or funded by 14 participating United States government agencies, Mr Bayo Onanuga, the President’s Spokesman, said in a statement in Abuja, yesterday.

The Nigerian honourees include Azeez Butali, Gilbert Lilly Endowed Professor of Diagnostic Sciences, College of Dentistry, University of Iowa; and Ijeoma Opara, Associate Professor of Public Health (Social and Behavioral Sciences), Yale School of Public Health, Yale University.

Others are: Oluwatomi Akindele, Postdoctoral researcher at Lawrence Livermore National Laboratory; and Eno Ebong, Associate Professor of Chemical Engineering, Bioengineering, and Biology at Northeastern University;

The rest are: Oluwasanmi Koyejo, Assistant Professor of Computer Science at Stanford University; and Abidemi Ajiboye, Executive Vice Chair of the Case School of Engineering, Department of Biomedical Engineering, Case Western Reserve University.

Tinubu commended the awardees for their achievements in science, technology and engineering.

He noted that recognising the talents of the awardees underscored Nigerians’ vast potential to excel both at home and on the global stage.

Tinubu looked forward to the honourees sharing their multidisciplinary expertise to benefit Nigeria’s development efforts under the Renewed Hope Agenda.

 

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UAE president to visit Nigeria in 2025

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Sheikh Mohamed bin Zayed Al Nahyan, the President of the United Arab Emirates (UAE) has accepted President Bola Tinubu’s invitation to visit Nigeria this year.

Tinibu invited him on Wednesday during their bilateral talks on the sidelines of the Abu Dhabi Sustainability Week 2025, Mr Bayo Onanuga, the President’s spokesman, said in a statement.

President Tinubu arrived in Abu Dhabi on Sunday as a guest of the UAE President to participate in the Sustainability Week.

He delivered Nigeria’s position on climate and other challenges earlier on Wednesday and congratulated the UAE leader for the successful event.

During the discussions, the Sheikh thanked Tinubu for accepting his invitation and expressed the UAE’s determination to strengthen economic cooperation between Nigeria and his country.

The two leaders also explored attracting investment into Nigeria.

President Tinubu said his government’s economic reforms were yielding fruits and called on the UAE to partner with Nigeria to develop the economy.

He said the reforms had stabilised and grown the economy, encouraging foreign investors, including international oil companies, to announce billion-dollar investments, signalling renewed confidence in doing business with Africa’s most populous nation.

President Tinubu thanked Al Nahyan for the warm reception he and his aides received since their arrival over the weekend.

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