Oil & Energy
Expert Advises FG To Review Privatisation Contracts
The former National Chairman, Institute of Electrical and Electronic Engineers (NIEEE), Mr Emmanuel Akinwole, has appealed to President Muhammadu Buhari, to review the power sector privatisation agreement to resolve the problems in the sector.
The immediate past chairman said yesterday in Lagos that the previous privatisation contract was a bad business proposal that could not work.
He said the slow success in the sector was due to the faulty privatisation procedure and had nothing to do with the appointment of Mr Babatunde Fashola as the previous minister.
Akinwole, who is also a procurement expert, said that the best solution to bad contract agreements were usually a review, adding that, managing the bad agreement would only compound problems.
He said the Buhari government had utilised the first term to understand the problems in the sector and this time, the government should interact with all power sector stakeholders to evolve a solution strategy.
“I am a procurement expert to World Bank standard, the regulation says if you realise there is a bad contract, what you need to do is renegotiation.
“If after you entered the contract, you now see the facts you did not see before, you have to rearrange it, so that there is a win, win situation.
“That is why we are challenging government that it has identified the problems in the last four years, the reasonable option now is to call the other parties and review the solution options,’’ he said.
He stressed the need to urgently renegotiate the contract to steadily improve power in the country.
“All you have to do in a bad contract is renegotiate with all the other parties. I am sure that today if power distribution or generation operators are invited and told for example, we owe you a debt of N20 billion but we cannot pay but this competent company is ready to partner with you and will give you N10 billion upfront, do you think they will refuse the offer,’’ he queried.
Akinwole explained that government could bring in competent operators to gradually buy back the contracts till they fully take control of the sector for optimal performance.
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Dangote Refinery Resumes Gantry Self-Collection Sales, Tuesday
This is revealed in an email communication from the Group Commercial Operations Department of the company, and obtained by Newsmen, at the Weekend.
The company explained that while gantry access is being reinstated, the free delivery service remains operational, with marketers encouraged to continue registering their outlets for direct supply at no additional cost.
The statement said “in reference to the earlier email communication on the suspension of the PMS self-collection gantry sales, please note that we will be resuming the self-collection gantry sales on the 23rd of September, 2025”.
Dangote Petroleum Refinery also apologised to its partners for any inconvenience the suspension may have caused, while assuring stakeholders of its commitment to improving efficiency and ensuring seamless supply.
“Meanwhile, please be informed that we are aggressively delivering on the free delivery scheme, and it is still open for registration. We encourage you to register your stations and pay for the product to be delivered directly to you for free. We sincerely apologise for any inconvenience this may cause and appreciate your understanding,” it added.
It would be recalled that in September 18, 2025, Dangote refinery had suspended gantry-based self-collection of petroleum products at its depot. The move was designed to accelerate the adoption of its Free Delivery Scheme, which guarantees direct shipments of petroleum products to registered retail outlets across Nigeria.
The refinery stressed that the earlier decision was an operational adjustment aimed at streamlining efficiency in the downstream supply chain.
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