The NERC’s decision to adjust tariffs underscores the complex challenges facing Nigeria’s energy sector. With ongoing discussions and debates surrounding the issue, the path forward remains uncertain, as stakeholders continue to advocate for a fair and sustainable solution to the country’s electricity woes.
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Court orders remand of Okorocha over money laundering allegation
A Federal High Court in Abuja has remanded former Imo State Governor, Senator Rochas Okorocha, for alleged money laundering.
He was accused of laundering funds to the tune of N2.9 billion while serving as governor of Imo State.
He was arraigned alongside Anyim Nyerere Chinenye, Naphtali International Limited, Perfect Finish Multi Projects Limited, Consolid Projects Consulting Limited, Pramif International Limited, and Legend World Concepts Limited as 2nd to 7th defendants respectively before Justice Inyang Ekwo
They are being charged with 17 counts bordering on money laundering.
Justice Ekwo ruled that Okorocha and other defendants should be remanded in the EFCC custody and adjourned the case till Tuesday for the hearing of bail application.
According to the EFCC, Okorocha allegedly conspired with others, including a member of the All Progressives Congress (APC), and five companies to steal N2.9 billion in public funds.
The senator representing Imo West was forcefully arrested on Tuesday when operatives of the EFCC broke into his Abuja home after a seven-hour siege.
The commission had said the arrest was necessitated by Okorocha’s refusal to attend his trial.
Okorocha had approached the court with an ex parte motion on Friday seeking bail on the grounds that he is a presidential hopeful on the platform of the APC and that his political ambition would be jeopardised if not granted bail.
However, Inyang Ekwo, the judge, refused the bail application.
Instead, the judge ordered Okorocha to put the Federal Government on notice to appear in court to defend his detention.
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Electricity customers insist on reversal of tariff increase, scorn reduction
Electricity customers insist on reversal of tariff increase, scorn reduction
Nigerians across various sectors have voiced their dissatisfaction with the Nigerian Electricity Regulatory Commission’s (NERC) decision to reduce the tariff payable by Band A customers. Despite the reduction from N225/kWh to N206.8/kWh, stakeholders including the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, electricity consumers, and civil society organizations are calling for a complete reversal to the subsidy era tariff.
The initial tariff hike, implemented just 33 days prior, saw a staggering 240 per cent increase in electricity tariffs for Band A customers. This move, which withdrew subsidies completely from Band A consumers, was met with widespread criticism and opposition from various quarters.
While the Federal Government cited potential savings of N1.5tn as justification for the tariff adjustment, concerns have been raised about the impact on consumers, particularly the financially vulnerable. The House of Representatives, organized labor, and the Nigerian Bar Association have all condemned the hike, with calls for its suspension and reversal.
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Defending the increase, Minister of Power Adebayo Adelabu warned of a nationwide blackout within three months if the tariff hike was not implemented. Despite opposition, government spokesperson Florence Eke asserted that the tariff adjustment would remain in place.
However, in a surprising turn of events, the NERC announced an eight per cent reduction in tariffs for Band A customers, attributing the decision to changes in macroeconomic indices, particularly the appreciation of the naira against the dollar. Following the NERC’s directive, several electricity distribution companies (Discos), including Abuja, Ikeja, and Ibadan, promptly announced the implementation of the tariff reduction.
While the reduction may provide some relief to consumers, stakeholders remain skeptical, emphasizing the need for broader reforms in the energy sector. Critics argue that mere tariff reductions do not address fundamental issues such as inadequate fuel supply and the overall inefficiency of the electricity supply system.
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Nigerian varsity VC suspended over alleged gross misconduct
Nigerian varsity VC suspended over alleged gross misconduct
In an unexpected turn of events, the Governing Council of the University of Cross River State (UNICROSS) has suspended Vice-Chancellor Augustine Angba on allegations of severe misconduct.
The decision was reached at a meeting of the Governing Council on Monday, May 6, 2024, where they resolved to release Angba of his duties with immediate effect.
The council has nominated Professor Stephen Oshang of the Faculty of Agriculture to serve as the interim Vice-Chancellor until further notice.
The suspension comes on the heels of a vote-of-no-confidence passed by some staff members of the university on January 17, 2024.
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The staff, who were protesting the non-payment of five months’ salary arrears, had carried placards with slogans like “This Management and the VC must go” and “We don’t want them any longer.”
Angba had previously criticized the staff unions, claiming that four members had hijacked the union and incited others to protest on the streets.
However, the Governing Council’s decision suggests that they found merit in the allegations against the embattled Vice-Chancellor.
Despite several attempts, Vanguard efforts to reach the university’s spokesperson, Mr. Onen Onen, for comments on the matter were unsuccessful, as his phone line was not answered at the time of filing this report.
Similarly, Professor Angba’s phone line was busy when contacted.
Nigerian varsity VC suspended over alleged gross misconduct
(Vanguard)
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Lagos to experience morning, afternoon thunderstorms for 3 days
Lagos to experience morning, afternoon thunderstorms for 3 days
NiMet’s weather outlook released on Sunday in Abuja forecasts sunny and hazy conditions on Monday over parts of Yobe, Jigawa, Kano and Katsina states throughout the forecast period with chances of morning thunderstorms over parts of Taraba state.
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