Connect with us


BIG STORY

Reps Summon TCN Over Monthly Payment Of $33m To GenCo

Published

on

The House of Representatives’ Committee on Finance has dismissed representatives of the Transmission Company of Nigeria (TCN) over their failure to answer critical questions concerning a take-or-pay agreement with a power Generation Company, Azura Power West Africa Limited, forcing the country to pay the firm $33m monthly whether it supplies power or not.

The committee, at its continued investigative hearing in Abuja on Monday, grilled the Executive Director, Transmission Service Provider, TCN, Victor Adewunmi; Market Operator, TCN, Edmund Eje; Director, Agreements, Benedict Ogbu; and General Manager, Corporate Planning and Strategy.

The lawmaker, however, criticized the computation of figures in the written presentation by the TCN management, insisting that the Managing Director/Chief Executive Officer, Sule Abdulaziz, appeared before the panel to answer queries.

A member of the committee, Taiwo Oluga, said, “The representative of the chief executive, I will want to put it to you that with this document, you are confusing the House. If it is your document and we are arguing on it, whether it is megawatts or it is in kilowatts, an agreement has been signed on behalf of Nigerians in megawatts. Now, you are presenting documents to the House in kilowatts/hour.

“So, Mr. Chairman, I will want to say that maybe these documents should be re-presented while we expect the chief executive to come and explain to Nigerians why $33m will be paid (to Azura) every month, yet we are not getting results – we are not getting power – and that is the root of all the problems in Nigeria as of today.

“And I want to say in developed countries, can we go into such an agreement on behalf of Nigerians without signing it? Even while signing it, we are not getting the power that is signed (for). I put it to you, you are traveling all over the world.”

Chairman of the committee, James Faleke, decried that the government, through the Nigerian Bulk Electricity Trading Plc, failed to reach a formal agreement with several power companies but signed a take-or-pay agreement with only Azura.

Faleke partly said, “The issue of $33m is just for one power company. Why the House has an interest in this, TCN, is because we have concessioned other power stations. Egbin power station is the largest with 1,320 megawatts. It is private. We did not sign a take-or-pay (deal) with them. This is where I am going.

“If we have Egbin power station that is generating the highest into the national grid – 1,320 – and we also have Transcorp with about 650 megawatts and we did not sign take-or-pay with Transcorp, and I am sure we have others. What we are trying to bring out is, what is so special about Azura? Not only that it is special, but just two or three people sat down and committed Nigerians to it. We will get there.”

Another member of the committee, Shaba Ibrahim, also criticized TCN’s presentation as confusing.

“To avoid this fluidity and roaming whenever people come in here for this investigative hearing, I want to suggest that, first, they should adopt their documents so that we can hold them to account.

“Mr. Chairman, I am more confused than when I came in here – more confused now. I don’t understand the language in which this presentation is denominated. So, I fully support the idea that they have to go back and rethink what they are doing so that we can have a more informed session when next we come here,” Ibrahim stated.

Several other lawmakers corroborated Ibrahim, asking that the TCN representatives be dismissed while a better presentation is made later.

In his ruling, Faleke partly said, “I am not confused. Transmission Company of Nigeria, first, your MD took permission, according to you, to see the minister, rather than come to explain to Nigerians and to clarify issues.

“Market Operator, if I understood your earlier statement that they (Azura) have not been producing up to the 450(megawatts agreement) that was signed, and that they have justification for not producing up to that. In that case, will you say as a Nigerian that they have violated the agreement they signed?

“What you are telling Nigerians generally is that from the position you hold and being paid by taxpayers, you are not representing Nigerians and that your seat is already in danger. That is what you are telling Nigerians because you cannot even take an informed decision when it is necessary to take decisions on behalf of Nigerians. That is exactly what you have just exhibited.”

The chairman added, “Why you are here before us was because you evacuate the power produced by Generating Companies, not only Azura. NBET was here on Friday and they will still be here tomorrow or so. So, it is not closed. We are only asking you from your function as an evacuator of power, what power have you been evacuating from a 450megawwats generation company?

The House had, on July 21, 2022, asked the Bureau of Public Enterprise to stop the planned sale of five power plants, warning the Director-General, Alex Okoh, against continuing with the process.

The parliament had specifically resolved to “direct BPE to stop the procurement process of selling the five Niger Delta Power Holding Company power generation companies until due process is strictly complied with.”

The lawmakers also cautioned “the Director-General BPE to desist from any act to facilitate the sales of the five generation power plants until duly authorized by the shareholders in a formal meeting as stipulated by the Companies and Allied Matters Act 2020.”

Chairman of the House Committee on Power, Aliyu Magaji, had moved a motion of urgent public importance titled ‘Urgent Need to Stop the Privatisation of Five Power Plants of Niger Delta Power Holding Company,’ which the lawmakers unanimously adopted.

Magaji had noted a report that the National Council on Privatisation and the Board of Directors of the Niger Delta Power Holding Company, in collaboration with the Bureau of Public Enterprises, through a request for expression of interest, resolved to sell five generation power plants of NDPHC at Calabar (Cross River State), Ihorbor (Edo State), Olorunsogo (Ogun State), Omotosho (Ondo State) and Geregu (Kogi State).

The lawmaker also noted that the shareholding of the NDPHC was held by the Federal Government (47 percent) and the state and local governments, 53 percent. He added that the board had the Vice-President as the Chairman; six state governors each representing one of the six geopolitical zones; and four ministers – Ministers of Justice, Finance, Power, and State Petroleum.

BIG STORY

National Assembly Passes Life Imprisonment Bill For Nigerian Drug Traffickers

Published

on

In a bid to tackle drug-related crimes, the National Assembly has amended the National Drug Law Enforcement Agency (NDLEA) Act, introducing life imprisonment for drug offenders and traffickers.

This comes after the Senate and House of Representatives adopted the harmonised report on the amendment.

Senator Tahir Monguno, Chairman of the Senate Conference Committee, presented the report, highlighting that the amendment introduces stricter penalties to deter drug-related crimes.

“Any person who unlawfully engages in the storage, custody, movement, carriage or concealment of dangerous drugs or controlled substances and, while doing so, is armed with an offensive weapon or disguised in any manner, commits an offence under this Act and is liable, upon conviction, to life imprisonment,” Monguno said.

The Senate approved the amendment through a voice vote during Thursday’s plenary, which was presided over by Deputy Senate President Barau Jibrin.

In addition, the Senate passed the Revenue Mobilisation, Allocation, and Fiscal Commission Bill, 2024, aimed at replacing the 2004 RMAFC Act. Yahaya Abdullahi, Chairman of the Senate Committee on National Planning and Economic Affairs, stressed the need for the commission’s reform, citing Nigeria’s declining revenue and increasing population.

“The Act, last revised over 20 years ago, no longer reflects Nigeria’s evolving economic realities. This bill proposes additional funding and a restructured operational framework for the commission to improve its efficiency,” Abdullahi explained.

He further emphasised the need for adequate funding from the Federation Account for the RMAFC to effectively carry out its constitutional duties.

The bill, passed after deliberations and a majority vote, now awaits President Bola Tinubu’s assent to become law.

Continue Reading

BIG STORY

UPDATE: We’re Ready To Provide Evidence For Trial Of Simon Ekpa — Enugu Government

Published

on

The Enugu State Government has expressed its readiness and willingness to provide evidence to assist in the prosecution of Simon Ekpa, who was arrested in Finland on Thursday over allegations of sponsoring terrorism in Nigeria.

Enugu State Government made this offer in a statement released by the Secretary to the State Government, Prof. Chidiebere Onyia, on Friday.

In the statement, the Enugu State Government also commended the Government of the Republic of Finland for the arrest of Ekpa, whom it described as “the Finland-based leader of the criminal gang, Autopilots.”

The Enugu State Government further referred to Simon Ekpa as “a common criminal, con man, and terrorist, who has no interest of Igbo people at heart.”

It added that Ekpa “is a murderer and fraudster, who delights in killing his people and living large off their misery.”

“Enugu State was ready and willing to provide evidence of Ekpa-sponsored atrocities against Ndigbo to aid his trial and conviction, whether in Finland or Nigeria.”

“The Enugu State Government welcomes the arrest of the Finland-based terrorist, Simon Ekpa.”

“His arrest and trial will no doubt go a long way in strengthening peace, security, and stability in all parts of the South East.”

“This arrest is in line with the demand of Governor Peter Mbah Administration, which has repeatedly made it known that Ekpa is a megalomaniac, common criminal, murderer, and fraudster, who takes joy in feeding fat on the manipulated emotions of Ndigbo and inflicting misery on the South East region.”

“Ekpa has for long, and unfortunately from Finland, made a living by creating a siege climate and mentality in the South East, destroying lives, property, and the Igbo trademark of entrepreneurship and hard work.”

“He thrives on manipulating, exploiting, and extorting the people on the pretext of fighting for their interest and for the restoration of Biafra,” the government said.

Ekpa was arrested and detained alongside four other suspects by the government of Finland on charges of sponsoring terrorism in Nigeria, according to local newspapers in the European country.

Continue Reading

BIG STORY

Much Ado About Meddlesome Minions, And Messengers Of Misinformation — By Tayo Williams

Published

on

There is a growing phalanx of pseudo-intellectuals parading the social media space with faux and fictitious knowledge of the indigenous oil and gas industry, and it is scary because of the grave danger they portend and present for the average Nigerian.

From X (formerly known as Twitter) to Facebook and even the photos and videos-sharing site, Instagram, they abound, in their inglorious number, lending their platforms to deliberately distort facts and spread misinformation especially to favour the narratives propounded by popular Nigerian businessman Aliko Dangote, owner of the Dangote Petroleum Refinery.

Since the refinery began operations earlier in the year, it has been one week, one controversy allegedly orchestrated by Dangote in a brazen attempt to arm-twist the Nigerian National Petroleum Corporation Limited, NNPCL, into playing by his rules.

Those conversant with the modus operandi of Dangote and his refinery say the long-drawn warfare with every institution and individual in the oil and gas value chain is nothing but a self-seeking and mindless profit maximisation tactic.

Whilst nobody begrudges Dangote’s drive for profit as a businessman, perhaps he needs to be reminded that the NNPC has a mandate to ensure and provide energy security in a way that is affordable and sustainable for the generality of Nigerians. And, the NNPCL management has declared in very unambiguous terms that it would not pander to the din of the market whether orchestrated by Dangote, his rampaging minions or anyone else.

The truth, however, is that there is an increasing army of vacuous, vicious, and vile individuals strutting the social media space defending and propagating outright and outlandish falsehoods. Of particular concern is one Kelvin Emmanuel who has become the unofficial mouthpiece of the Dangote Refinery. Going from one media house to the other, he pulls figures out of the air and projects obnoxious untruths on hapless Nigerians. With the backing of his paymaster’s billions, it is no surprise that this otherwise irrelevant and fatuous character now commands appearances on major television stations.

But it is on X that he has made lying glibly and gratuitously the Holy Grail. He once premised Dangote’s inability to secure feedstock for his refinery on the government and the NNPCL. While peddling this untruth, he conveniently forgets that the refinery had a seven-year window, during its construction phase, to lock in feedstock supplies that could last a minimum of five years. Dangote did none of that. As it would later unfold, his game plan, which Emmanuel glossed over, was to monopolise equity oil and production quotas to serve his business interests.

Another deliberate misinformation from the Dangote camp was the allegation that International Oil Companies (IOCs) and other industry players were trying to sabotage his interests. Apart from being an investor in the Dangote Refinery, the NNPC still supplies gas to various Dangote companies across Nigeria. How can anyone or any institution jeopardise their investment? What further proof of faith does Dangote and his minions need to know that the NNPC is their cheerleader, and is here to make operating in the industry seamless and a win-win for all?

Echoing Dangote’s baseless stance, Emmanuel also called for the sack of Mr. Farouk Ahmed, Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), regulators of Nigeria’s midstream and downstream value chain. By Emmanuel’s warped reckoning, Ahmed had no locus to speak against Dangote or his enterprise because the latter questioned the quality of the product from Dangote Refinery and other local refineries in comparison with imported ones. Of course, Emmanuel’s was a lone voice in the wilderness because those who understand the invaluable role that the NMDPRA plays in the industry did not as much as dignify his tirade with a glance.

In a robust response to Emmanuel’s groundswell of egregious lies, Ibrahim Y. Kabo, a petroleum engineer based in Abuja, described him as “Someone who has not seen the inside of a refinery before Dangote built one, let alone understood the mechanism of the energy industry, …(yet) assuming the role of an authority in oil and gas matters.”

He went further to lampoon Emmanuel for stating that only Dangote Refinery’s products meet specifications while others are all sub-standard. “The obvious question is: whose specifications? For a refinery that has barely made four of seven pre-inauguration certifications, it sounds somehow laughable to suddenly assume the role of regulator in an industry you’ve barely entered,” Kabo said.

In the article, entitled, “The Hand of Aliko, the Voice of Kelvin: Inside Dangote Refinery’s Media Stunt Lab”, Kabo declared that from all Emmanuel’s interviews and pretensions to be an industry expert, one thing is obvious: “He lacks an understanding of both the mandate and the reach of NNPC as a national oil company.”

Kabo adds that, “Downstream is the least of NNPC’s business interests. The mandate, as per PIA (Petroleum Industry Act), is to facilitate both the extraction and commercialization of Nigeria’s oil and gas resources. 20 billion dollars may be a lot, but NNPC and industry regulators routinely handle projects of that magnitude. At best, Dangote and (Emmanuel’s) ranting are an irritation. I believe that’s why NNPC openly declared it was not interested in being Dangote’s off-taker.”

Like the Yoruba saying goes, derision does not stop the sweetness of the honey. The meddlesome minions and messengers of misinformation can continue dancing naked in the marketplace, but what is most important is that the NNPCL has assured that it will not cease doing everything in its capacity “to harness the possibilities of oil and gas, address energy demand and drive the national economy, and become the number one oil producer and supplier in Africa.”

 

Tayo Williams is a Lagos-based media executive

Continue Reading



 

Join Us On Facebook

Most Popular