Energy

Mining licence allegation against Oyetola untrue – aide

Published

1 year ago

April 4, 2023

…Says Adeleke only trying to cover his obvious ineptitude

Media aide to the immediate past Osun Governor, Adegboyega Oyetola, Mr. Ismail Omipidan, has described as wicked and untrue the claim by Governor Ademola Adeleke that Oyetola attempted selling off the state mining licences before stepping aside on November 26, 2022.

He noted that contrary to the governor’s claim, it was Oyetola who made sense of Osun’s assets in the mining sector, under the government’s seven project streams in its Osun Minerals Development Plan.

He said but for Oyetola administration’s conscious efforts at developing the sector, Osun would have since lost all its 17 mining licences.

Omipidan, in a statement, said the misinformation from Governor Adeleke and his team should ordinarily not have found its way to the public space, if they are sincere especially at this period when both Muslims and Christians are seeking the face of God, their creator, asking for forgiveness and better guidance in the months ahead.

“But for the need to set the records straight, we would have ignored them,” Omipidan added.

He said the current Osun government has been looking for ways and means to cover up the governor’s obvious ineptitude, hence, the resort to cheap blackmail through misinformation.

“In just two years, the Oyetola’s administration was able to commercialise the mineral assets and executed agreements with Badger Mines and Pan Arabian Mines for the purpose of exploration. Thankfully, the Omoluabi-Badger commercial Gold buying and refining centre ( CBRC) Osu, was completed with the state-of-the-art refining capacity before we stepped aside last year.

“We also concluded the resource valuation of our assets in Kogi with a view to setting up a world-class mine and quarry in Kogi. We also set up MIREMCO ( Mineral Resources and Environmental Management Committee) to regulate mining activities in the state. Oyetola never sold or made attempt to sell any of Osun Mineral Licence. Instead, he acquired more mineral licences for Osun.

“Out of the 17 licences earlier acquired by the state, the Oyetola administration added two extra licenses another two was even initiated for processing. The assets remained in Omoluabi’s name in a JV partnership for the purpose of asset development.

“It is on record that the Oyetola administration developed the most robust solid mineral development plan in a sector that had gone comatose before he assumed office for which the Omoluabi Licences were already published in the papers for revocation in 2019 just at the beginning of his administration.

“It took the commitment of Oyetola to recover the Licences, cleared all the arrears, regularised the Licenses and embarked on immediate commercialisation of the assets seeking suitable partners that are technically qualified and financially capable to take over the early risk of the capital intensive mineral exploration. He never sold any. Instead, the state benefited from signature bonuses paid by the technical partners.

“Truth is, Oyetola only sought partnerships with five firms as the terminal date of the leased mineral Licences were near so it wouldn’t revert to the FG untapped. None of the assets were forfeited. Instead, Oyetola acquired extra gold Licences for the state as the ones owned are close to expiration.

“Governor Adeleke and his team are already in close talks with the investors urging them to continue their mineral exploration efforts . This is just to prove that none of the assets were sold but remained in a JV partnership initiated by Oyetola’s administration to avoid ‘use it or lose it’ policy of the FG

“The records are there. I, therefore, see this allegation as not only untrue but a wicked one, deliberately couched to misinform the public with the sole aim of trying to cover up the obvious ineptitude of the current PDP’s administration. But like all its previous lies, this latest one too, has failed,” Omipidan added.

Energy

KEDCO, iRecharge partner to block electricity payment leakages

Published

4 hours ago

May 7, 2024

NewsDirect

The management of Kano Electricity Distribution Company (KEDCO) on Tuesday entered into partnership with iRecharge Technology to block bills payment leakages and ease payment of electricity bills.

The iRecharge payment product was launched in Kano.

The Managing Director of KEDCO, Malam Abubakar Yusuf, expressed delight over the partnership, urging customers to embrace the initiative.

He described the iRecharge payment platform as a positive milestone deployed to allow customers pay their bills with convenience.

According to him, the initiative marks the beginning of a new era for KEDCO, as it embarks on the strategic partnership with iRecharge Tech.

“Today, KEDCO is adding a new dimension to its digital solutions by embarking on a promising and exciting journey that will ultimately reposition our company’s revenue drive.

“It will also support our efforts towards the reduction of commercial and collection losses.

“Our collaboration with iRecharge Technology signifies our commitment to leveraging technology for enhanced service delivery, plugging revenue leakages, and ultimately providing better payment solutions’’ he said.

He was hopeful that the partnership would not only streamline the company’s operation and improve collections but also enhance customer satisfaction.

“The solution is not only convenient but also cost-free and effortless for our esteemed customers. Either through bank transfers, the use of USSD, or other user-friendly options, no matter your preferences, you are covered.

“Therefore, we are optimistic that in weeks to come this payment solution will begin to yield the desired objectives.

” I solicit the support and commitment of all the stakeholders towards achieving the laudable objectives of this important partnership with iRecharge”, he said.

Demonstrating the payment solution, the Chief Growth Officer of iRecharge Technology, Abubakar Mohammed, explained that the iRecharge payment platform is the easiest and smartest way to pay electricity bills.

According to him, Utility Loans allow customers who open payment account with iRecharge to receive loans, pay their bills promptly and enjoy power supply without hitches.

He said payments could be made through many platforms, including e-payment, whatsAPP platform with 09096666612, www.irecharge.ng, *6606*1#, among others.

Energy

Enugu Electricity Distribution Company implements tariff reduction for Band A customers in South-East region

Published

9 hours ago

May 7, 2024

Praise Oguntan

The Enugu Electricity Distribution Company (EEDC) has announced a reduction in electricity tariffs for customers in the Band A feeders across the South-East region.

This decision follows the directive issued by the National Electricity Regulatory Commission (NERC), instructing all 11 Discos to adjust their tariffs to N206.80/kWh instead of the previous rate of N225/kWh for customers in Band A feeders.

The announcement was made in a statement released by Mr. Emeka Ezeh, the spokesperson for EEDC, in Enugu on Monday.

The statement reads: “We wish to inform our valued customers that the end-user tariff for our Band A feeders has been revised downwards from N225/kWh to N206.80/kWh under MYTO 2024, effective from May 6, 2024.

“We assure our customers that the daily minimum 20-hour supply will continue uninterrupted. Please note that the end-user tariffs for Bands B, C, D, and E feeders remain unchanged.”

Energy

Oil firms lose N341bn to gas flaring in 12 weeks

Published

13 hours ago

May 7, 2024

NewsDirect

Nigeria reportedly lost N340.87 billion to gas flaring in the first quarter of 2024, as oil and gas firms operating in the country’s oil and gas sector flared 83.9 billion standard cubic feet (BSCF) of gas in three months (January and March 2024), according to latest data released by the National Oil Spill Detection and Response Agency (NOSDRA).

In its report for the period, NOSDRA noted that the amount lost to gas flaring was 10 percent higher than the $266.9 million, about N309.871 billion, lost in 2023.

According to the environmental watchdog, the volume of gas flared in the first quarter of 2024 emitted 4.5 million tonnes of carbon dioxide into the atmosphere and was capable of generating 8,400 gigawatts hour of electricity, while the offending companies were liable for the payment of fines totalling $167.7 million, an equivalent of N194.699 billion.

In comparison, NOSDRA noted that between January and March 2023, the oil firms flared 76.3 billion SCF of gas, which was valued at $266.9 million (N309.871 billion); was capable of generating 7,600 gigawatts-hour (GwH)of electricity; contributed 4.1 million tonnes of carbon dioxide emission, with the firms liable for penalties of $152.5 million, an equivalent of N177.053 billion.

This was even as power generation is expected to increase by 500 megawatts (MW) in the second quarter of 2024, driven by new power plants and rehabilitated facilities.

Specifically, thermal power generation is expected to remain dominant, but renewable energy sources like solar and wind are expected to gain traction; while transmission and distribution constraints are expected to persist, affecting power availability and reliability.

Furthermore, giving a breakdown of gas flared by production segment, the environmental regulatory agency stated that oil and gas firms operating in the country’s onshore oil space flared 42.5 billion SCF of gas in the first three months of 2024, accounting for 50.72 percent of total gas flared.

NOSDRA added that the gas flared onshore was valued at $148.9 million, about N172.873 billion, with penalties payable of $85.1 million, an equivalent of N98.8 billion; while it contributed 2.3 million tonnes of carbon dioxide to the atmosphere and had the potential to generate 4,300 GwH of electricity.

In the same period in 2023, companies operating onshore, caused the country a loss of $130 million (N150.93 billion), from the flaring of 37.1 billion SCF of gas, which has power generating potential of 3,700 GwH and contributed two million tonnes of carbon dioxide emissions, while penalties payable by the companies stood at $74.3 million (N86.262 billion).

On the other hand, companies operating offshore flared gas valued at $144.7 million, accounting for 49.28 per cent of total gas flared in the first three months of 2024.

Specifically, the companies flared 41.3 billion SCF of gas; 5.63 percent higher than the 39.1 billion SCF flared in the same period in 2023; while the quantity flared elicited penalties of $82.7 million, carbon dioxide emission of 2.2 million tonnes and had power generation potential of 4,100 GwH.

Comparatively, in the same period in 2023, offshore companies flared 39.1 billion SCF of gas valued at $136.9 million, with power generation potential of 3,900; carbon dioxide emission of 2.1 million tonnes and penalties payable of $78.2 million.

Some of the offending companies, according to NOSDRA include Shell Petroleum, Development Company (SPDC), Nigerian Petroleum Development Company (NPDC), Chevron Nigeria, Mobil Oil, Elf Petroleum Nigeria, Nigeria Agip Oil Company (NAOC), Addax Petroleum, Texaco Overseas (Nigeria), Esso Exploration and Production Nigeria, Allied Energy Resources, Ultramar Petroleum, Atlas Petroleum; Cromwell and South Atlantic Petroleum, among others.

These companies flared gas from Oil Mining Leases (OML) 04, 05, 11, 13, 14, 17, 18, 22, 28, 23, 24, 38, 40, 42, 43, 72, 49, 54, 90, 95, 67, 70, 104, 59, 99, 100, 101, 102 and Oil Prospecting Licences 222, 3.