News
Siemens delivers $2.3bn power transformers, substations to Nigeria
Siemens delivers $2.3bn power transformers, substations to Nigeria
Electricity transformers and substations meant for the $2.3bn Siemens power project have arrived in the country as the project gains traction, Minister of Power, Adebayo Adelabu, said on Sunday.
The development came a few months after the Federal Government renewed the mega power project contract with the German government and Siemens, following several months of delays.
The minister in a statement on Sunday said the COVID-19 pandemic and the death of the late Chief of Staff to former President Muhammadu Buhari, Abba Kyari, hampered the implementation of a Memorandum of Understanding signed between Nigeria and Siemens to transform power transmission and distribution in the country.
According to Adelabu, Kyari, who died as a result of COVID complications, was the arrow head of the project, saying the project remained stalled until President Bola Tinubu came on board.
“In 2018, the Nigerian government signed a memorandum of understanding with the German government for the presidential power initiatives, also known as the Siemens contracts. The German government agreed to lend Nigeria $2.3bn and employ Siemens to transform Nigeria’s transmission and distribution sector.
“However, due to COVID-19, significant progress has yet to be made in implementing these projects. Unfortunately, the late Chief of Staff to the President, Malam Abba Kyari, the foremost champion of the project, passed away. After that, an election occurred, and a new government took over. Between 2018 and 2023, there were no significant developments concerning the agreements,” a statement made available to The PUNCH on Sunday by Adelabu’s media aide, Bolaji Tunji, quoted him as having said at a briefing on Friday.
READ ALSO:
- Hotel owner tortures man to death in Imo
- Abductors demand N50m ransom for abducted varsity students
- Gunmen kill vigilante operative, cult member in Rivers
According to Adelabu, the project was supposed to proceed in two phases, but the pilot phase only progressed significantly when the Tinubu government emerged.
“In November 2023, during the visit of the German Chancellor to Nigeria, one of the issues discussed was the need to continue with the project. Recently, there was an African Business Summit in Germany, which was attended by the President, and I was privileged to accompany him to the summit. During the summit, we had extensive conversations with our German counterparts regarding a project, and we were both convinced that it would benefit both countries to proceed with an MOU. We agreed to sign an acceleration agreement to kick-start the project again.
“In December 2023, at COP 28 in Dubai, an affiliation agreement was signed between the federal government, the German government, Siemens Energy, and FGN Power Company Limited. Following this, we commenced the project analysis, and I am pleased to inform you that we are almost through with the project’s pilot phase.
“The pilot phase involved the offshore importation of ten power transformers and ten mobile substations to be used as a Proof of Concept for these projects. All these items have arrived in the country,” the minister stated.
According to him, five out of the 10 transformers have been installed at various locations across the country.
“We have also installed three out of 10 mobile substations, with seven more to go. Once we finish installing them, we will commission and energise them. At that point, Nigerians will begin to see the impact of this project,” he explained.
Adelabu noted that the next phases of the project included transforming the transmission segment or network by expanding the transmission capacity and strengthening the transmission to avoid the current fragility that leads to persistent grid collapse.
This, he said, would involve upgrading about 14 existing power transmission substations as well as the establishment of 22 new transmission substations.
Siemens delivers $2.3bn power transformers, substations to Nigeria
Punch
News
CBN in U-turn withdraws cybersecurity levy
CBN in U-turn withdraws cybersecurity levy
The Central Bank of Nigeria (CBN) has withdrawn the circular it issued to all commercial banks on May 6, 2024, directing them to implement a compulsory withdrawal of 0.05 per cent from every electronic transaction as cybersecurity levy.
The controversial directive for collection of the levy had attracted nationwide condemnation when the central bank introduced the policy last week, prompting the Presidency to immediately suspend the implementation of the Cybersecurity Levy.
READ ALSO:
- Gunmen invade Ebonyi village, behead 2, kidnap 7, raze houses
- Mother locks up her two toddlers in Lagos apartment daily, disappears
- Iran’s President Raisi confirmed dead in helicopter crash
In a withdrawal circular that was issued by the CBN on Sunday night, it directed the banks not to go ahead with the initial directive, in line with the presidential directive. The apex bank authorities claimed it’s a sign that the present administration was a listening one that prioritises public good.
“Further to this, please be advised that the above referenced circular is hereby withdrawn,” CBN director in charge of payments system, Chibuzo Efobi, and the director, financial policy and regulation, Haruna Mustapha, said in the circular, adding that all banks should “Please be guided accordingly.”
CBN in U-turn withdraws cybersecurity levy
News
Minimum Wage: Labour returns for negotiation with FG Tuesday, looks beyond N100,000
Minimum Wage: Labour returns for negotiation with FG Tuesday, looks beyond N100,000
The oganised labour says it will honour the invitation by the Federal Government for Tuesday, May 21, 2024 to continue the negotiation for a new minimum wage.
Even as it has announced readiness to back down on its earlier N615,000 proposal, it vowed not to accept N100,000 as the new minimum wage.
The organised labour, comprising the Nigeria Labour Congress and the Trade Union Congress of Nigeria, pulled out of the negotiation meeting last Wednesday when the government offered N48,000 as new minimum wage.
However, Chairman of the Tripartite Committee on the National Minimum Wage, Alhaji Bukar Goni, in a letter to the organised labour calling a meeting to be held tomorrow, indicated interest that the government would shift ground and asked the labour to do so too.
A report by Vanguard quoted the NLC Head of Information and Public Affairs, Benson Upah, as saying the organised labour would honour the invitation tomorrow but advised the government to be serious.
He said, “Our expectations are that government should be serious this time around. We expect them to take more seriously the issue of wages of workers.”
‘’So if the government is serious, it should not be thinking about N100,000. You know that when you create poor citizens, you create a poorer county,” he added.
News
I’ve never taken bribe since joining police in 2005 – Force PRO Adejobi
I’ve never taken bribe since joining police in 2005 – Force PRO Adejobi
Force Public Relations Officer (FPRO), Prince Olumuyiwa Adejobi, has boasted that he has never for once accepted a bribe of any kind since he started active service as a police officer.
Adejobi, who is an Assistant Commissioner of Police (ACP), made this revelation in a post on his verified X account on Sunday.
The Force PRO, while responding to a netizen who asked if he had ever taken bribes before, said accepting bribes is a taboo for him as a royal prince.
According to him, accepting a bribe is not just ungodly but also affects someone somewhere anytime it is taken.
READ ALSO:
- Drake loses $565k after betting on Tyson Fury against Usyk
- Ronaldo tops Forbes, earning twice as much as Messi
- Relief as 386 persons abducted in 2014 rescued from Sambisa Forest
He noted that the essence of life is to put smiles on the faces of others and not to be the source of their tears.
He further revealed that he has taken it upon himself to preach against accepting bribery to his fellow police officers and other people around him.
He wrote, “No. It’s a taboo for a royal prince to take a bribe. Taking bribe definitely makes someone somewhere cry for many reasons, and it’s ungodly to do so. Your main purpose in life is to put smiles on people’s faces. It’s Godly and rewarding. It’s my personal principle and a call to duty. I preach this to my colleagues and many others always. May we have the grace to remain steadfast and purposeful in life.”
Adejobi, who is a prince from Orile-Owu Community in Ayedaade Local Government Area of Osun State, was reappointed as the Force PRO by the Inspector General of Police, Olukayode Egbetokun, in August 2023.
I’ve never taken bribe since joining police in 2005 – Force PRO Adejobi
BREAKING: Only applicants from federal institutions can access student loans – FG
BREAKING: Iranian Imam survived helicopter crash for an hour, tried to raise help – Report
Student killed in Anambra seminary school fire
-
Sports2 days agoFlamingos thrash Burkinabe Girls 6-0 in U-17 World Cup qualifier
-
News3 days agoNigeria will stop fuel importation by June – Dangote
-
Africa2 days agoArmy foils coup to topple DR Congo president
-
metro3 days agoUpdated: Many injured, shops destroyed in truck, BRT bus crash on Lagos-Ibadan Expressway (PHOTOS)
-
metro22 hours agoHealth worker stabbed to death in Minna
-
metro3 days agoBreaking: Women protest against return of armed Okuama youths (+ Photos)
-
Education2 days agoWigwe varsity becomes most expensive Nigerian university, unseats Nile, Baze
-
International2 days agoJUST IN: Helicopter carrying Iran’s president crash-lands