BIG STORY

Nigeria Not Ready For Total Power Privatisation — Electricity Workers

Published

2 years ago

September 8, 2022

The National Union of Electricity Employees (NUEE) has called for a total reversal of the privatisation of Nigeria’s power sector.

Modupeoluwa Akinola, assistant general secretary, NUEE, southwest zone, said this in an interview with NAN on Thursday in Ibadan.

Akinola said the country was not ready for the privatisation of the sector, hence the opposition to the planned privatisation of the Transmission Company of Nigeria.

According to him, the NUEE is demanding full renationalisation of the power sector under the democratic control of a board that includes representatives of workers and consumers.

“Our opposition to the privatisation policy was informed by our understanding and conviction that privatisation will always seek to protect and defend the profit interest of the business owners against the general interest of the people for affordable and regular electricity,” he said.

“Let’s crosscheck people that bought power Generation Companies (GenCos) and Distribution Companies (DisCos), are they professionals in the power sector, and do they have the financial capabilities needed to run the sector effectively?

“Over N2 trillion of bailout funds that the federal government has given to both the DisCos and GenCos on different occasions since the privatisation is not showing, in terms of improvement in electricity supply and better performance.

“All hopes and expectations that privatisation will add value to the life of the people and bring meaningful impact and improvement to the power sector have been dashed.

“One of the bases of our complaint prior to the eventual privatisation of the power sector in 2013 was that we are not ripe for total power privatisation in Nigeria.”

Akinola, however, said after the reversal of the current privatisation of the GenCos and DisCos, Nigeria could start from partial privatisation whereby private owners would be allowed to share with the government.

He also urged the federal government to intervene in the issues of electricity workers’ welfare, entitlements of old power holding company of Nigeria (PHCN) staff, and condition of service in the power sector.

In July, BPE said it was considering a suitable model to unbundle the TCN and not privatise the transmission company.

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BIG STORY

Alleged N110bn Fraud: Court Adjourns Yahaya Bello, Other’s Bail Ruling To December 10

Published

3 hours ago

November 27, 2024

PorscheClassy News

The Federal High Court in Abuja has adjourned to December 10 for a ruling on the bail application by the immediate past Governor of Kogi State, Yahaya Bello, and two others.

Bello had pleaded not guilty to the 16-count charges brought against them by the Economic and Financial Crimes Commission.

The former governor, along with Umar Oricha and Abdulsalami Hudu, are being prosecuted as the 1st to 3rd defendants, respectively, in a fresh N110bn 16-count charge instituted against them by the EFCC.

Bello, the 1st defendant, vehemently denied the allegations before Justice Maryanne Anenih as they were read out to them.

After taking their plea, the Defendant’s Counsel, Joseph Daudu, moved an application for bail.

However, the EFCC Counsel, Kemi Pinheiro, opposed the application, arguing that it had expired in October.

Clarifying the issue, the Defendant’s Counsel stated that the only relevant application before the Court was the motion for bail in respect of the first defendant, which was filed on November 22.

Relying on all the paragraphs of the affidavit, he added that the bail application was also supported with a written address.

Justice Anenih ordered that the defendants be remanded in the custody of the EFCC.

The EFCC had filed an N110bn alleged fraud suit against the former governor.

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BIG STORY

JUST IN: Court Remands Yahaya Bello In EFCC Custody Amid Alleged N110bn Fraud Case

Published

6 hours ago

November 27, 2024

PorscheClassy News

The Federal Capital Territory (FCT) High Court has remanded Yahaya Bello, former governor of Kogi, in the custody of the Economic and Financial Crimes Commission (EFCC).

Bello was arraigned on a 16-count charge related to alleged money laundering on Wednesday.

He pleaded not guilty to all the charges.

More to come…

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BIG STORY

First Phase Of 10,800-Bed Hostel In LASU Ready — Tokunbo Wahab

Published

6 hours ago

November 27, 2024

PorscheClassy News

The first phase of a 10,800-bed hostel project at the Lagos State University (LASU) is now ready for inauguration, according to Tokunbo Wahab, former special adviser to the governor on education.

Wahab, who is now commissioner for environment and water resources in Lagos, describes the project as ambitious and transformative.

“ It remains one of the most ambitious and transformative projects undertaken during my time as the Special Adviser to the Governor on Education,” he wrote on X.

“It was executed through a Public-Private Partnership (PPP) model under a Build-Operate-Transfer (BOT) arrangement which involves seven reputable investors.”

Wahab commended Babajide Sanwo-Olu, Lagos governor, for his leadership and continuous support.

“Proud of the work done here and to have been a part of this special one,” he added.

“Through the grace of God and the unwavering support and the dedication of the Lagos State Office of Public-Private Partnerships, the relentless efforts of the management staff of LASU, led by Vice Chancellor Prof. Ibiyemi Olatunji-Bello, and the cooperation of other key stakeholders, the first phase of this landmark project has now been completed.”

Wahab emphasized that the project showcases the state government’s commitment to leveraging public-private partnerships to address critical infrastructure needs in the education sector.

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