Connect with us

Business

Blackout Deepens As Grid Records 5th Collapse

Published

on

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.

Print Friendly, PDF & Email
Continue Reading

Business

Local Firms Produce 30% Oil, Gas – NUPRC

Published

on

Chief Executive Officer (CEO), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, says indigenous firms account for the production of about 30 per cent and 20 per cent of crude oil and gas respectively.
Speaking at the Independent Petroleum Producers Group (IPPG) dinner at the 21st Nigerian Oil and Gas Conference and Exhibition in Abuja, Komolafe said “as at today, I am proud to say that indigenous companies contribute about 30 per cent of crude oil and 20 per cent of the gas production, as well as 40 per cent and 32 per cent of oil and gas reserves.”
He diclosed that seven indigenous companies are among the top 20 companies with the highest oil reserves in Nigeria.
Komolafe noted that the commission is not oblivious of the threat posed to the development of the  hydrocarbon industry by divestments of the International Oil Companies (IOCs).
The impetus for divestment by the IOCs, according to him, 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.
As far as NUPRC is concerned, he stated, IPPG and other prospective indigenous players should see 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.
“It is indeed the right time to look inwards in the sector to prove the capability of the local content in value addition and optimising development of the nation’s hydrocarbon resources”, he emphasised.
The theme of the event was ‘International Oil Industry Divestments- Nigeria’s Energy Security, and The Role of the IPPG in this New Mix’.

Print Friendly, PDF & Email
Continue Reading

Business

Stakeholder Urges Govt To Hands Off Business 

Published

on

A player in the oil and gas sector of Nigeria’s economy, Dr Godswill Ihetu, has said that government should keep its hands off business, saying its interference is detrimental to the growth and sustainability of business.
Ihetu, an octogenarian who had been in the oil and gas sector since 1959, said this while speaking to newsmen at the 5th Nigeria Entrepreneurial Summit and Honours Foundation (NESH) Oil and Gas Roundtable Series in Port Harcourt.
Giving reasons for the huge unemployment indices in the country, in spite of having huge oil and gas reserves, Ihetu stated that the oil and gas sector does not actually employ a lot of people due to the way it is structured, noting that there were inputs from the industry, capable of creating employment if well managed.
According to him, “the industry itself does not employ many people, but there are inputs that are capable of creating employment in the economy, like the Ajaokuta steel plant, petrochemicals”.
He continued that the oil and gas businesses, in which the government had majority share and played managerial role, did not strive due to incessant hire and fire of top officers, adding that such constant removal of captains of such establishments would not allow for continuity of laudable projects.
“30 to 40 years ago, there was a pipeline sending gas to Ajaokuta plant. Can you imagine if that plant had succeeded, the number of people that would be employed? But that huge complex is lying waste and there are many such complexes scattered across the country that are not producing much”, he explained.
He observed that the private sector-driven companies such as Eleme Petrochemical, were doing well, “ but you come to government-owned establishment, you find that the ability to sustain those plants like the refinery is lacking, why?
“Government’s interference, government’s lack of support in making sure that these establishments were created. If the Port Harcourt refinery  was working it would create more jobs for the youths.
“So the oil industry itself is not one that creates a lot of jobs but the pinups from the industry, gas into petrochemicals, gas into power, gas into manufacturing create a lot of jobs.
“Unfortunately, some of those establishments that are government-run have not done very well”, he said.
He urged government to sell majority stake to private sector and let NNPC be a minority shareholder.

By: Tonye Nria-Dappa

Print Friendly, PDF & Email
Continue Reading

Business

NSC Nets N115.2bn, Records 28 Seizures In Six Months 

Published

on

The Onne Customs Area Command of the Nigeria Customs Service (NCS) collected a total revenue of N115,264,159,921.12 between January and June this year.
This amounts to an increase of N78 billion over the N37,097,63.91  in the corresponding period of 2021. The net was N68,597,503,002 in 2020.
Onne Customs Area Controller, Comptroller Auwal Mohammed, disclosed this in a statement made available to our correspondent by the Public Relations Officer of the command, SC. Ifeoma Onuigbo Ojekwu.
According to the statement, the command recorded 28 seizures, comprising nine containers with a duty paid value (DPV) of N531,386,166.78 in the period under review.
“This year’s number of seizures is higher by 20 numbers between January and June 2021.
“Among the siezed goods are machetes brought into the country without end users certificate, military wears, vegetable oil, whisky, soap and used clothing.
Others include used tyres, foreign parboiled rice, tomato paste, used vehicle parts and  others classified as uncustoms goods.
“There is a corresponding decline in smuggling activities accasioned by the aggressive anti-smuggling operation of the ommand.
“This is in order to ensure total compliance with the  policy thrust of the Comptroller General of Customs, Col. Hammed Ali (rtd)  and the extant law of the service”, Mohammed said.
On export, Mohammed said,”our export drive has also yield Fruitful dividends. A total number of  876,775.60 metric tonnes with $495,384,221.99 Free on Board (FOB) value translated into N203,969,499,562 and Nigeria Export Supervision Scheme (NESS) valued N1,075,060,914.52 were also processed during the period under review.
“It is petinent, therefore, to sound this note of warning that our eagle- eyed officers are very much on red alert to checkmate the activities of those who thrive on evasion of customs duties on their consignments”, he stated.

By: Nkpemenyie Mcdominic, Lagos

Print Friendly, PDF & Email
Continue Reading

Trending