Category: Energy

Senate President tasks power sector C’ttee to review 2013 privatisation deal ….as Investigative Public Hearing on Power begins

Emporium Reporters

President of the Senate, Ahmad Lawan on Monday charged the Senate Committee on Power to look at what has happened to the agreement signed in 2013 on the privatisation of power sector. Lawan gave the charge while declaring open an Investigative Public Hearing by the Senate Committee on Power. The public hearing was on “Power Sector Recovery Plan and the impact of COVID-19 Pandemic.” Lawan said the overall expectation of the Nigerian government and the citizens was that the power sector, after privatisation, would be far better but lamented that…

JUST IN : Immediate past NNPC Boss, Maikanti Baru is dead

Emporium Reporters

The immediate past Group Managing Director of the Nigerian National Petroleum Corporation (NNPC),Dr Maikanti Baru,is dead. He was 60 years old as at the time of his death, and only two months away from his 61st birthday. This was disclosed by Mele Kyari, the current GMD of the state-run oil company. “My brother, my friend and my mentor, Dr Maikanti Kachalla Baru, immediate past GMD of NNPC died late last night,” Kyari said. “He was of exemplary character and disposition. May Allah forgive him and have mercy upon him.” Baru…

Buhari fires MD of power transmission company,names replacement

Emporium Reporters

Usman Gur Mohammed has been relieved of his appointment as the managing director of the Transmission Company of Nigeria (TCN). Mohammed Sale, minister of power, approved of his sack on Tuesday, appointing Sule Abdulaziz to replace him in acting capacity. “As part of continuing measures to reposition and improve the performance of the power Sector in the country, the Honorable Minister of Power Engr. Sale Mamman hereby announces major changes at the Transmission Company of Nigeria,” Aaron Artimas, spokesman of the minister, said in a statement. “Accordingly, the Managing Director…

Review Power sector privatization now – Senate President tells FG …adjourns plenary till June 2, 2020

Emporium Reporters

President of the Senate, Ahmad Lawan, has called for the immediate review of the privatization exercise of the power sector by previous administrations. Lawan gave the charge in his concluding remarks on a motion considered on the floor during plenary on Tuesday. The motion titled: “Power Sector Recovery Plan and the Impact of COVID-19 Pandemic” was sponsored by Senator Gabriel Suswam (PDP – Benue North East). The Senate President, who bemoaned what he described as the “inefficiency of Power Generating and Distribution companies” in the country, called for a review…

Oyo signs MoU with Finnish consortium to establish Energy Innovation Centre

Emporium Reporters

Oyo State Ministry of Energy and Mineral Resources has signed a Memorandum of Understanding (MoU) with the Finnish Consortium, which included a number of listed companies, to establish an Energy Innovation Centre for Excellence in the state. The MoU was signed on the sidelines of the Nigerian-American Business Forum holding in Tampa, Florida, United States of America, which was attended by a state delegation led by Oyo State Governor, Engineer Seyi Makinde. Speaking shortly after the signing of the MoU, Oyo State Commissioner for Energy and Mineral Resources, Barr. Temilolu…

Senate probes NNPC $396m Spent on Refineries

Emporium Reporters

The Senate on Thursday resolved to probe the Nigerian National Petroleum Corporation (NNPC) over the sum of $396 million expended on Turn-Around Maintenance of refineries in the country between 2013 and 2015. Accordingly, the Upper Chamber mandated the Committee on Petroleum Downstream, Upstream and Gas to carry out a holistic investigation on the Turn-Around Maintenance expenditures and the current state of the refineries as well as convoke a stakeholders conference with the aim of finding ways to revamp them. The decision to investigate spendings on maintenance of refineries by the…

Nigerians To pay more for Electricity As NERC Orders Tariff Review

Emporium Reporters

Nigerians will pay more for electricity from April 2020 following a directive by the Nigerian Electricity Regulatory Commission (NERC) ordering a review to achieve a cost-reflective tariff in the power sector. NERC disclosed in its ‘December 2019 Minor Review of Multi-Year Tariff Order 2015 and Minimum Remittance Order for the Year 2020,’ which was released on December 31. According to the order, effective from January 1, the tariff will reflect the impact of changes in the minor review variables in the determination of cost-reflective tariffs and relevant tariff and market shortfalls for 2019…

Senate Passes Petroleum Tankers Safety Bill for Second Reading

Emporium Reporters

A bill seeking to reduce frequent accidents by petroleum trucks on Nigerian roads on Tuesday scaled through the second reading in the Senate. The bill, sponsored by Senator Ifeanyi Ubah (YPP, Anambra South), seeks to make consequential provisions towards safe transportation of petroleum products across the country. In his lead debate, Ubah said the bill became necessary to provide a legal framework peculiar to that segment of the transport sector, and to further strengthen existing collaborations between government agencies on transportation of petroleum products by roads. He said the bill…