Business
Power Generation Hits 5,090MW, Highest In 2018
Latest documents obtained from Nigeria’s Power System Operator (SO) indicated that peak electricity generation crossed the 5,000-megawatt mark last week.
According to the SO, a peak power generation of 5,090MW was recorded on April 26, 2018, which was the highest quantum of electricity ever witnessed on the national grid since the beginning of this year.
An analysis of the documents obtained in Abuja Friday showed that power generation started moving up gradually from the 2,298.9MW that was recorded on April 20, 2018 and peaked at 5,090MW on April 26, 2018.
It was also gathered that the average power sent out on April 26 was 4,326MWh/hour, up by 246.86MWh/h from the previous day’s figures.
The SO, however, stated that despite hitting the peak generation for the year thus far, over 2,500MW of electricity was not generated as a result of various constraints in the sector.
It outlined the major constraints in the sector as unavailability of gas, high frequency, water management issues and lack of transmission infrastructure.
The System Operator said, “On April 26, 2018, the average power sent out was 4,326MWh/hour, up by 246.86MWh/h from the previous day. A total of 1,626MW was not generated due to unavailability of gas. About 40MW was not generated due to unavailability of transmission infrastructure, while 1,075.5MW was not generated due to high frequency, resulting from unavailability of distribution infrastructure.
“About 190MW was not generated due to water management and the power sector lost estimated N1,407,000,000 on April 26, 2018 due to insufficient gas supply, distribution infrastructure, transmission infrastructure and water reserves. The dominant constraint on 26th of April 2018 remained gas, constraining a total of 1,626MW from being available on the grid. Generation peaked at the highest for 2018 at 5,090MW, and the fifth highest ever to date.”
The SO’s documents further showed that the grid had, thus far, recorded two system collapses this month.
After ensuring system stability for more than two months, the country’s power grid collapsed twice within a period of five days in April 2018.
Electricity generation figures showed that the grid recorded partial collapses on April 12 and 14 this year.
Generated power on the grid dropped from a high of 3,946.5 megawatts on April 11, to as low as 351.3MW on April 12, which was the lowest quantum of grid electricity recorded in the past two months.
Further findings showed that power generation remained in a partially collapsed state, as it only moved up marginally from the 351.3MW recorded on April 11, to 596MW on April 14.
Electricity on the grid eventually rose to 3,500MW on April 15, according to generation figures obtained from the SO.
Before the two partial collapses of this month, Nigeria’s power generation had hovered around 3,900MW for more than two months.
Industry data showed that the last system collapse before that of April 11 was recorded on the first day of February this year.
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Business
Boat Mishap Kills Pastor, Wife And Church Members In Brass Water
A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways
The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.
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?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered
as search party are still ongoing.
Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.
The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit
The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident
By: CHINEDU WOSU
Business
Rivers Workers Seek Scrapping Of Contributory Pension Scheme
The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.
Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.
Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.
He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.
According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.
He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.
“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.
Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.
The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.
He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.
Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.
The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.
He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.
Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.
By: King Onunwor
Business
FG Begins South-West Tour To Promote New Cooperative Bank
The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.
Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.
According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.
Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.
“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.
The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.
According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.
Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.
He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.
“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.
He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.
“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.
Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.
“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.
“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.
Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.
She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.
Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).
“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.
“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.
