Business

Blackout Deepens As Grid Records 5th Collapse

Published

4 years ago

June 15, 2022

Nigeria witnessed wide spread blackout on Sunday following the collapse of the national power grid, making it the fifth time the country’s electricity grid has collapsed in 2022.
The Tide’s source learnt that the grid collapse occurred around 6.49pm, resulting in shutdown of the outgoing electricity feeders of some power distribution companies.
Messages received from the Enugu Electricity Distribution Company Plc and Kaduna Electricity Distribution Company, specifically, confirmed the grid collapse.
Findings had earlier shown that the quantum of power on the grid as at 6am on Sunday was 3,628.6 megawatts, but it later crashed significantly in the evening, resulting in the eventual grid collapse.
Recall that Nigeria’s power grid had collapsed twice in March and twice again in April this year, as the power generation on the system had continued to fluctuate due to various concerns such as gas constraint, water management challenges, and gas pipeline vandalism.
The Kaduna Disco confirmed Sunday ‘s collapse in its Twitter handle titled, “Power Outage In Our Franchise Due To Grid Collapse”, saying “Dear esteemed customers, we regret to inform you that the power outage being experienced in our franchise states is due to system collapse of the national grid.
“The collapse occured at about 18:47pm this evening hence the loss of supply on all our outgoing feeders. Power supply shall be restored as soon as the national grid is powered back. Our sincere apologies for any inconvenience”.
Speaking on it, the Head, Corporate Communications, EEDC, Emeka Ezeh, said the grid collapse threw five states under the Disco’s franchise area in total blackout.

In a notice from the Disco, which he signed, Ezeh said, “The Enugu Electricity Distribution Company Plc wishes to inform her esteemed customers of a system collapse which occurred at 6.49pm this evening, Sunday, June 12, 2022.

“As a result of this development, all our outgoing feeders are out and this has affected supply to our customers in Abia, Anambra, Ebonyi, Enugu and Imo states.

“We are on standby, awaiting further information on restoration of supply from the National Control Centre”.

In his reaction, the President, Nigeria Consumer Protection Network, Kunle Olubiyo, stated that though the situation was worrisome, blackouts were no longer new to some power users.

“To some of the electricity consumers, they are already used to perpetual darkness. Grid collapse to them is a permanent feature.

“That means that their own grid collapse is indefinite. And when they get a flash at all of 20 minutes or an hour or two, all you will hear will be ‘up NEPA!’

Recall that in April, the quantum of electricity on the grid crashed from over 3,000MW on April 8, 2022, to as low as 10MW around 21.00 hours same day.

The report further stated that another collapse of the grid occurred on Saturday, April 9, 2022, as the nation’s power system collapsed to 33MW around 01.00 hours, after it had earlier posted a peak generation of 3,281.50MW at 00.00 hours the same day.

Also, the national grid collapsed twice in March and this happened within a space of two days, a development that made the Federal Government to summon a meeting of stakeholders to address the issue.

Business

PENGASSAN Tasks Multinationals On Workers’ Salary Increase

Published

1 week ago

December 8, 2025

The Tide

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has asked companies in the oil and gas sector to undertake urgent review of salaries of their workers in view of the prevailing harsh economic conditions in the country.

Also, the pensioners of Chevron Nigeria, under the aegis PenCoN, have lauded the President of PENGASSAN, Comrade Festus Osifo and his executive on their unrelenting efforts toward addressing pension abnormalities faced by retired workers in the oil and gas industry.

The association also appealed to the federal government to take necessary measures to check banditry and terrorist activities in parts of the country.

PENGASSAN President, Osifo who addressed journalists shortly after the National Executive Council meeting of the association in Abuja, at the weekend, said that though a lot of success has been recorded in negotiating salary reviews for its members, there are still organisations that have failed to lift their workers from the present harsh economic situation.

He said within this period, PENGASSAN has signed numerous Collective Bargaining Agreements (CBAs) which has brought smiles to the faces of its teeming members.

“This is because we recognise that our job, literally, is how to protect the job of our members, and how to enhance their pay,” he said.

Osifo said that operators in the oil and gas sectors always go for the best qualified professionals to carry out their operations.

“So, the same way they recruit the best, we also challenge them to provide the best condition of service and provide the best remuneration.

“Yes, today, a lot of companies will have achieved successes, but there are still few that we are still discussing at their CBAs, that we are not yet there.

“We still use this opportunity to call on these companies that are still foot dragging, that are still holding back, even with the massive devaluation that has occurred in our country, that still don’t want to fix the remuneration of our members.

“We are calling on them to do the needful, because for us in PENGASSAN we will push without holding back. We will push, using everything in our arsenal, to ensure that the needful is done,” he said.

Osifo spoke of the dispute with the Dangote Refinery group, saying there are still pending issues to be resolved.

“Gentlemen of the press, during the networking session, we also looked at the issues that are plaguing some of our branches, and you know that recently, we had some challenges in Dangote Refinery and PetroChemicals Ltd.

“And within this period, since our last National Industrial Action, we have been engaging them in a lot of conversations, but the issues are not fully resolved. There are still a lot of pending issues.

“Yes, the NEC decided that, yes, let us still consummate that process by pushing those issues, by engaging in dialogue to resolve the issues, and by also engaging all our social partners and stakeholders to get the issues resolved,” he said.

Business

SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

Published

1 week ago

December 8, 2025

The Tide

The Securities and Exchange Commission (SEC) has launched the Regulatory Hub, a new centralized digital platform designed to streamline collaboration, strengthen oversight, and improve transparency across Nigeria’s financial and capital market ecosystem.

The Commission disclosed this in a statement posted on its website.

According to the commission, the platform connects key regulatory and security institutions including the Office of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), and Corporate Affairs Commission (CAC), enabling them to exchange information securely and in real time.

The launch of this regulatory hub comes ahead of the implementation of new tax laws in January 2026, with agencies such as the FIRS spreading its tentacles across sector to monitor compliance.

According to the SEC Director-General, Emomotimi Agama, the launch marks a significant step toward modernizing Nigeria’s regulatory framework through technology.

“The Regulatory Hub is a major step in our commitment to leverage technology for stronger regulatory synergy. By connecting regulators on one platform, we are building resilience, enhancing market integrity, and promoting investor confidence,” he said.

The SEC said the platform would help reduce bottlenecks in regulatory processes and facilitate faster, more informed decision-making across agencies.

Reinforcing the DG’s comments, the Executive Commissioner, Operations, Bola Ajomale, highlighted the operational benefits of the new system.

“The platform will significantly improve the timeliness and quality of regulatory decision-making. It provides a single window for regulators to share data, respond to requests, and collaborate seamlessly in safeguarding our financial and capital markets,” he said.

The commission believes the Regulatory Hub would support its broader mandate to strengthen investor protection, enhance market stability, and harmonize regulatory activities across the financial sector.

It urged stakeholders to initiate interest by emailing the Commission, adding that once registered, participants would be able to access the Hub and take advantage of its features.

Business

NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products

Published

1 week ago

December 8, 2025

The Tide

The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing circulation of banned food products across markets in the country.

The agency, in a Press Release dated 6 December 2025, warned that these items including pasta, noodles, sugar and tomato paste are expressly listed on the Federal Government’s Customs Prohibition List and are illegal to import.

NAFDAC stated that the sale and distribution of such prohibited items violate national trade laws, compromise the integrity of Nigeria’s food control system, and pose significant public health risks, as they have not undergone the agency’s mandatory safety and quality evaluations.

Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.

The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.

The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.

“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.

NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.

By: Lady Godknows Ogbulu