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Egbin power plant may be forced to shut down as a result of the non-settlement of N110 billion debt and insufficient gas supply.

Dallas Peavey, managing director, Egbin Power Plc, on Wednesday warned that a nationwide blackout was imminent.

Speaking during an interactive session with energy correspondents in Lagos, Peavey said the government had refused to pay for power generation despite guarantees made to that effect.

He said the power plants needed funds to settle its debts to gas companies and banks.

“We owe the gas companies and have others like our technical partners (KEPCO) to pay, and importantly our lenders, the banks,” he said.

We have made massive investments in making the plant readily available to generate electricity sustainably. Unfortunately, we can’t break even due to the gross inefficiency in the value chain.

“The government guarantees to pay us for every megawatt we generate and sell to Nigerian Bulk Electricity Trading, NBET, but they have not done that.

“We just got paid for the month of December, 2016, three months later and we were only paid a paltry 28 per cent of the total 100 percent of the verified and accepted invoice for that month. That is how the outstanding debts kept accumulating for three and half years now.

“That is the simple but bitter truth. Let me be honest, if Egbin fails, it’s going to be dark as Egbin provides close to 30 percent of Nigeria’s power, so let the required intervention be completed and urgently too.

“Egbin power plant is one of the biggest single power generating stations in Africa, with an installed capacity of 1320 MW, consisting of 6 units of 220MW each.”

BIG STORY

JUST IN: Education Minister Reverses 18-Year Age Limit For Admission

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The newly appointed Minister of Education, Dr. Tunji Alausa, has announced the removal of the 18-year age limit for admission into tertiary institutions in Nigeria.

He also indicated the possibility of a comprehensive review of the nation’s education policy.

However, Alausa made it clear that there would be no reversal of the Federal Government’s decision to invalidate over 22,700 degree certificates acquired by Nigerians from unrecognized universities in neighboring Togo and the Benin Republic.

Speaking at his inaugural ministerial press conference in Abuja on Wednesday, Alausa emphasized that practical education is key to tackling Nigeria’s unemployment crisis. He stated that tertiary institutions must stop producing graduates without ensuring job opportunities for them.

The minister also revealed plans for the federal government to partner with private sector players to provide training opportunities for students and help them realize their full potential.

Additionally, Alausa announced that universities focused on agriculture would be empowered to implement commercial farming practices as part of efforts to address the country’s food security challenges.

 

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BIG STORY

JUST IN: 114 Released #EndBadGovernance Protesters Arrive Presidential Villa

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One hundred and fourteen #EndBadGovernance protesters, including minors and adults acquitted by the Federal High Court in Abuja, have arrived at the Presidential Villa.

The protesters, initially arraigned by the Police Force, were released following a court ruling by Justice Obiora Egwatu.

The case was dismissed at the request of the Attorney General of the Federation (“AGF”), Lateef Fagbemi.

Vice President Kashim Shettima, representing President Bola Ahmed Tinubu, is set to officially receive the released protesters.

They are then handed over to their respective Governors, specifically Uba Sani of Kaduna and Abba Yusuf of Kano.

Ministers present at the State House Auditorium in Abuja for the reception include: Tunji Alausa (“Minister of Education”); Nentawe Yilwatda (“Minister of Humanitarian Affairs and Poverty Reduction”); Balarabe Lawal (“Minister of Environment”) and Tanko Sununu (“Minister of State for Humanitarian Affairs and Poverty Reduction”).

Also, Senior Special Assistant on Community Engagement for the Northwest, Abdullahi Yakasai, is in attendance.

Other dignitaries present are Deputy Senate President Jubrin Barau and Chairman, House of Representatives Committee on Appropriation, Abubakar Bichi.

 

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BIG STORY

BREAKING: Nigeria’s National Grid Collapses Again, 10th Time In 2024

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Nigeria’s national grid has collapsed again for the 10th time in 2024.

This was revealed by the National grid’s X handle.

This revelation was made after several Nigerians complained of a sudden disappearance of power supply in their houses.

 

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