Oil & Energy
Fund Stalls Electrical Village Project In Rivers
The multimillion naira Electrical Village Project at Iriebe in Obio/Akpor Local Government Area of Rivers State has been stalled by fund.
Checks by The Tide revealed that work on the project has been suspended for over eight months while the entrance gate remains sealed.
The only sign of human activity are some makeshift drinking joints near the entrance with a big sign post “Welcome to Electrical Village”.
A source revealed to The Tide that the construction company handling the project is having some disagreement with the bank financing the project.
According to the source, officials of the bank (names withheld) were said to have visited the project site last year and expressed dissatisfaction that the work on ground was not commensurate with the fund so far released.
Consequent upon this development, the source said, the bank suspended further release of fund for the project as it coincided with the period the Central Bank of Nigeria (CBN) was looking into records of banks in the country over failed loan facilities.
The bank representatives were, however, said to have met with members of Electrical Parts Dealers Association (EDA), Rivers State branch at Amba Plaza in Mile One Diobu area to explain the situation of things as it concerns the project financing but members of EDA were said to have shunned the bank, saying they have no business with it and were not aware how it came about the financing role.
They were blunt that it was only the contractor they know, and advised the bank to discuss with the contractor who may have entered into the deal with it.
It was also gathered that desperate moves by the contractor and leadership of the EDA to convince members of EDA to contribute N100,000 each to, at least, get the work to a level commensurate with the fund released by the bank financing the project also failed because the members rejected the request.
The project, which started about five years ago, targets 800 shops at its first phase, and members are to pay N450,000.00 each to own a shop.
It was gathered that members, who agreed to pay their individual contribution instalmentally have paid N50,000.00 each for two installments amounting to N100,000.00 each on far.
About 90 per cent the members of EDA with membership strength close to 1000 have paid the two installments.
Our source, who is a member of the association said EDA members are not willing to make further contributions because the level of work does not correspond with the contribution made. He hinted that some of the buildings were at foundation level while others have been decked but none has been roofed so far.
Attempts to get the state president of EDA to comment on the development failed as he neither picked his calls nor replied to notes dropped in his office. But an executive member of EDA, who pleaded anonymity, confirmed that work on the project has been on hold for close to a year, saying that plans were on to commence work.
The electrical parts dealers and motor parts dealers operating along Okija and Ikoku in Diobu area of Port Harcourt, respectively, have for years possed a lot of environmental and security risks to Rivers Government and people, hence the plan to relocate them outside Port Harcourt City.
Chris Oluoh
Oil & Energy
‘Revamping Moribund Refineries ‘ll Address Rising Cost Of Petroleum Products’
Oil & Energy
The Race To Cut Methane Emissions Is Exposing A Global Divide
By Felicity Bradstock for Oilprice.com 16
Oil & Energy
Delta Targets 120MW Power Boost, Moves To Cut Reliance On National Grid
The State Commissioner for Works (Rural Roads) and Public Information, Charles Aniagwu, disclosed this at a press conference in Asaba, weekend, noting that the initiative was part of wider reforms aimed at opening up the power sector to private investors.
Aniagwu, who was accompanied by the Executive Assistant to the Governor on New Media, Felix Ofou, said the state was exploring alternative sources of electricity to support businesses, households and communities while reducing pressure on the national grid.
He said the government was particularly interested in exploiting Delta’s abundant natural gas resources for power generation, pointing to the Kwale Free Trade Zone, which is part of the state’s special economic zone, as a major opportunity for investors.
According to him, prospective investors were taken to the zone during the state’s recent economic summit to enable them to assess the availability of gas as a key raw material for electricity generation. ComparePower Rates
The commissioner explained that generating more electricity locally would not only increase supply in Delta but also free up power on the national grid for use by other consumers.
Aniagwu cited the 8.5MW Independent Power Plant located behind the state secretariat in Asaba as an example of what could be achieved through alternative power sources.
He said the facility had enabled the secretariat complex to operate independently of the national grid, thereby making the electricity that would otherwise have been consumed there available to other users.
He added that the planned 120MW partnership with Supply Power would further strengthen the state’s electricity supply capacity and provide a more reliable power base for small and medium-sized enterprises.
Aniagwu said the state government was also intervening in areas traditionally regarded as the responsibility of electricity distribution companies because inadequate power supply could no longer be allowed to constrain economic development. LearnQuantum Physics
He identified the extension of the electricity grid from Abraka towards the Ndokwa axis as one of the interventions being undertaken to connect more communities to electricity.
The commissioner, however, raised concerns over the burden placed on communities that are often required to provide transformers and other electricity infrastructure, only for distribution companies to take over the facilities and subsequently collect electricity bills without adequately accounting for the investments made by the communities.
He said the state would continue to support efforts aimed at energising communities, noting that improved electricity supply would stimulate businesses, create jobs and help tackle social problems associated with unemployment and idleness.
On regulation, Aniagwu said the government was working with the Ministry of Energy and a committee set up to develop an appropriate regulatory framework for the state’s emerging power sector. SwitchEnergy Plans
He said the proposed energy commission would be responsible for regulating new electricity producers, determining appropriate tariffs and overseeing distribution networks.
The commissioner stressed that liberalising the sector required effective regulation to protect consumers and investors, adding that decisions on power distribution infrastructure, including the use of overhead or underground lines, must take into account the peculiarities and safety requirements of each location.
He warned that power expansion without adequate regulation could expose residents to electrocution and other hazards, stressing the need to protect electricity infrastructure while ensuring consumers were not subjected to unfair pricing.
Aniagwu said the state government’s broader objective was to build an efficient and sustainable electricity market driven by private investment and capable of powering businesses, households and communities across Delta State.
-
Sports4 days agoNigerian Trio Target Titles At PFL Africa Finals
-
Education4 days agoFCE Yola Graduates 3,555 Teachers , Seeks Upgrade to University
-
Niger Delta4 days agoDiri Restates Stance On Lagos-Calabar Coastal Highway
-
Niger Delta4 days agoC’River, NUJ Pay Tribute To Late Guardian Editor
-
News4 days agoNDLEA Recovers Tons Of Illicit Drug Consignments In Nine States
-
Opinion4 days agoChecking Voter Apathy In Nigeria’s Electoral Process
-
Opinion10 hours ago
Ancestorial Worship: My Take (1)
-
Politics4 days ago2027: DICKSON’S EX-ALLY VOWS TO WORK AGAINST NDC INTEREST IN BAYELSA
