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FG requires $10bn to revive power sector

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The Minister of Power, Mr Adebayo Adelabu says the Federal Government requires 10 billion dollars investment yearly, to revive the power sector for the next 10 years.

Adelabu said this in Abuja on Monday, at a one day investigative hearing on halting the electricity tariff increase by the Nigerian Electricity Regulatory Commission (NERC) organised by the Senate Committee on Power.

“For this sector to be revived, government need to spend nothing less than 10 billion dollars annually in the next 10 years.

” This is because of the Infrastructure requirement for the stability of the sector, but government can not afford that.

“And so we must make this sector attractive to investors and to lenders.

“So for us to attract investors,and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing,” he said.
Adelabu added:“If the value is still at N66 and government is not paying subsidy ,the investors will not come.

“But now that we have increased tariff for a Band, there are interest been shown by investors.”

The minister said the major challenge in the sector was absence of liquidity, saying that the sector had been operating on a subsidised tariff regime,given the absence of a cost reflective tariff.

He said that the subsidy had not be funded over the years as huge liabilities was being owed the Generating Companies ( GenCos) and the Gas Companies.

Adelabu said the inability of the government to pay the outstanding N2.9 trillion subsidy was due to limited resources, hence the need to evolve measures to sustain the sector.

He appealed to the lawmakers to support the process of paying the debt owed operators across the value chain of generation, transmission and distribution.

“The increase is based on supply, saying that any customer that do not received 20 hours power supply will not be made to pay the new tariff,” he said.

He said the government was committed to ensuring sustainable reform in the sector, saying that there was need to clear the outstanding debt owed GenCos and Gas companies.

To improve power supply, he said government was investing in hydro electric power, adding that construction of 700 mega watt power in Zungeru had commenced, while Kashimbila Hydroelectric power plant of 40 mega watt was awaiting evacuation to improve generation.

The minister said there was also an on going investment of 26 small hydro power dams to boost electricity production across the country.

However, members of the committee in their separate remarks decried the experiences of Nigerians on electricity supply over the years, despite the unbundling of the sector.

Sen. Lola Ashiru, the Vice-Chairman of the committee said Nigerians were paying for inefficiency of power sector operators.

Ashiru said there was a lot of inefficiency across the value chain of generation, transmission and distribution..

He said poor Nigerians must be protected, adding that there was need to consider a reversal of the tariff increase.

Sen.Solomon Larlong said there was no consultation, before the increase, adding that issues of palliative should have been discussed and provided before the tariff increase.

Sen .Enyinnaya Abaribe, the Chairman of the Committee said what Nigerians wanted was a solution to the issues and ways to ensure liquidity in the sector.

He also decried the non  appearance of a company “ZIGLAKS” over the failed agreement to provide prepaid meters for Nigerians.

He alleged that the company had received N32 billion in 20 years to meter Nigerian electricity consumers.

Sen.Adamu Alero said due consultation was not made before the tariff increase.

He said the public was not at peace with the increase, saying that the increase was over 200 per cent, hence the need for a reversal of the tariff increase.

The News Agency of Nigeria (NAN)reports that some stakeholders at the event included the Nigerian Electricity Regulatory Commission (NERC), Manufacturers Association of Nigeria (NAN), Association of Power Generation (Gencos) and Electricity Distribution Companies

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1,681 vulnerable Lagos residents get N1bn financial assistance 

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By Sodiq Adelakun

The Lagos State Office of Political, Legislative and Civic Engagement has provided financial assistance worth N1 billion to 1,681 vulnerable residents, aimed at alleviating economic hardship.

According to Dr. Tajudeen Afolabi, Special Adviser to the Governor on Office of Political, Legislative and Civic Engagement, this financial support is a demonstration of the state government’s commitment to the welfare of its citizens.

Speaking on Monday during the ongoing ministerial press briefing to mark the second term in office of Governor Babajide Sanwo-Olu, Dr. Afolabi also announced that the Governor plans to revive the school feeding programme for primary school pupils before the end of the year.

He said the move is expected to benefit thousands of pupils across the state, providing them with a nutritious meal during school hours.

According to him, “Sanwo-Olu Listens’ financial assistance to struggling Lagosians is a social welfare programme designed to provide financial assistance to vulnerable citizens in Lagos State has been sustained for five consecutive years.

“It is a fact that Lagos is not immune from the ever-increasing poverty rate in Nigeria, hence the government of Mr Babajide Sanwo-Olu, cognisance of this unpalatable trend has therefore taken necessary steps in providing support to help reduce poverty.

“During the period under review, 1,681 vulnerable residents of Lagos State were assisted in one way or the other.”

He added that 1,074 individuals are still awaiting this benefit, which will be addressed within the next two weeks.

“So far, we have spent N1 billion on financial assistance since the program began. Once we complete the distribution to the remaining beneficiaries, we will provide the total sum expended.”

Regarding the school feeding program for primary school pupils, the Commissioner stated, “Once we finalise all the details, we will provide an update. There are many steps involved, including determining the number of pupils.”

“By the end of the year, we will disclose the total amount spent on the school feeding program.”

He also mentioned that to ensure proper engagement and feedback, the state government launched the Lagos Citizens Gate App in April 2023.

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1.2 million students to benefit from loan fund in initial phase — Official

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By Sodiq Adelakun

The Nigerian Education Loan Fund (NELFUND) has announced that up to 1.2 million students in federal tertiary institutions will be eligible for student loans in the program’s initial phase.

This was revealed on Monday by the Managing Director of NELFUND, Akintunde Sawyerr, ahead of the formal launch of the application portal on Friday.

According to Sawyerr, students from federal institutions that have completed uploading their data will be able to apply for the loan in this first phase, which begins on May 24.

The application process has been streamlined to ensure ease of access for all qualified students in these institutions.

The NELFUND program is a key part of President Bola Tinubu’s administration’s Renewed Hope Agenda, aimed at providing financial support to needy students. The loan will cover obligatory fees and stipends, enabling students to pursue their academic goals without worrying about the financial burden.

 He also added that the Fund will pay 100 percent of institutional fees directly to the institutions of learning account while also providing stipends to the students monthly based on when school is in session.

He stressed the importance of some of the key features of the student loan including, No physical contact between the loan applicant and NELFUND, a user-friendly Loan Application portal, comprehensive support where applicants can access online support to assist and flexible repayment plans.

According to him, “We encourage all students in federal institutions to take advantage of this opportunity to secure the required financial assistance for their education. Applicants must submit their applications as early as possible to ensure timely processing.”

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Lagos Govt seals over 840 event centres, social facilities over safety violations

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By Sodiq Adelakun

The Lagos State Government has taken unwavering action against event centres and social facilities that violate safety regulations, sealing over 840 of them in the last one year.

This was disclosed by the Commissioner for Special Duties and Intergovernmental Relations, Gbenga Oyerinde during the ongoing Ministerial Press Briefing at the Bagauda Kaltho Press Center on Monday.

According to him, the Lagos State Safety Commission has carried out enforcement actions at various facilities, including event centres, clubs, lounges, hotels, and construction sites, to ensure compliance with safety standards.

Notable examples of sealed facilities include the Lekki Conservation Centre and Quilox.

In addition, the Commission has inspected over 7,819 facilities to ensure safety, issuing fire safety compliance certificates to 5,220 of them.

It was gathered that the Commission has carried out at least 365 advocacy initiatives to promote environmental safety.

In his words, “Our ministry in working in line with the THEMES Plus developmental Agenda of Mr. Babajide Sanwo-Olu, to mitigate risks and protect life and property of government and citizens of Lagos’ State, have sealed eight hundred and forty event centres and social facilities for safety violations and non-compliance of extant laws.”

The Commissioner also stated that fire safety officers from the States Emergency and Fire Rescue body successfully rescued 376 victims, preserving an estimated property worth of N152.22 billion, albeit with a regrettable loss of 82 casualties and N25.37 billion in property.

He also revealed that additional fire stations were added in Ibeju Lekki, Ifako Ijaiye among other locations across the state.

“In line with efforts to bolster infrastructure, three new fire stations are nearing completion in Ijegun-Egba, Satellite Town, and Ijede, while an ultramodern workshop at the Alausa headquarters is nearly finished to cater to the agency’s fleet maintenance needs.

“Additionally, land spaces have been identified for the development of additional fire stations in Ibeju, Lekki and Ifako Ijaiye,” he reiterated.

He added that Lagos State Fire and Rescue Service had prioritised fire mitigation and Emergency Response Strategies

He also said “the Lagos State Fire and Rescue Service is sustaining its focus on enhancing fire mitigation and emergency response strategies, aligning with the administration’s THEMES Plus Agenda. Under the leadership of Governor Babajide Sanwo-Olu, a collective effort was emphasised to address the challenges posed by fire incidents effectively.

“Key statistics from the year’s emergency calls revealed a total of 2,537 incidents, including 1,627 fire calls, 191 rescue calls, 93 salvage calls, and 4 explosions, alongside 607 false alarms.

“This highlighted the critical need for increased awareness of fire safety measures to combat the impact of negligence and non-compliance with safety codes,” he stated.

The Commissioner also highlighted the collaborative efforts with the Ministry of the Environment to improve the NYSC Temporary Orientation Camp (Youth Hostel) at Iyana-Ipaja.

Furthermore, he also revealed that the Lagos State Emergency Management Agency (LASEMA) responded to a total of 1,906 incidents between January 1, 2023, and March 31, 2024, comprising 1,461 incidents in 2023 and 445 incidents in the first quarter of 2024.

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