metro
‘GenCos sell cheap power to neighbouring countries’
‘GenCos sell cheap power to neighbouring countries’
Some electricity Generating Companies (GenCos) sell electricity to neighbouring countries at a lower cost than the Distribution Companies (DisCos) in Nigeria, a document obtained at the weekend by The Nation has shown.
Although the document did not show the price differentials, it said the errant GenCos were carrying “unregulated sales or secret deals” to earn foreign exchange at all cost” and in defiance of an existing Federal Government directive.
The GenCos are also said to be sidelining the Nigerian Bulk Electricity Trading Plc (NBET), a government agency in charge of the novation of international agreements. There are 24 registered GenCos in the country.
The Federal Government has been losing revenue from the sales of electricity to the neighbouring, it was learnt.
According to the document, in Q2 and Q4 of 2022, about $16.92 million in invoices were exchanged between GenCos and international customers in Niger, Benin Republics and Togo.
Investigation showed the breaches by the few GenCos include the violation of the transfer Order made pursuant to Section 10 of the Electric Power Sector Reform Act (EPSRA) by the National Council on Privatisation (NCP).
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Worried by non-adherence to International Power Sale Agreement (IPSA), the administration of ex-President Muhammadu Buhari waded in to guide the GenCos.
In a memo dated July 12, 2019, the Presidency directed NBET to oversee IPSA.
An industry source, who spoke on the development, called on President Bola Tinubu to take ”a serious look at the breaches being committed by the GenCos on international power sales“
The source, who declined to be named, said: ”What has been happening is the sidelining of NBET. Electricity is now being sold to neighbouring countries in an unregulated way.
“Buhari had directed that all international sales and purchase agreements must be negotiated directly with NBET unless otherwise approved by him ( ex-President).
“The directive became necessary in order to align with the configuration of the Nigerian electricity industry after privatisation. But this is not the case.
“The sales of electricity to foreign countries were backed up by international cooperation agreements between Nigeria on the one hand and the Republic of Benin and Togo for CEB (Communaute Electrique Du Benin) and Niger Republic for NIGELEC (Societe Nigerine D’electricite)
“As a matter of fact, wheeling of electricity to these countries was being channelled through the network of the Transmission Company of Nigeria(TCN) as there is no dedicated network between the private generating companies and the foreign countries.
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“Prior to these directives and upon the commencement of the Transitional Electricity Market in February 2015, the TCN that received the proceeds of the sale of electricity to international customers began crediting the international customers’ receipts to the account of NBET for payment to GenCos while NBET in turn shares among all the GenCos in a transparent process and in accordance with the approved waterfall.
“The former President’s directive reinforced the earlier directive from the Federal Ministry of Power, Works and Housing to the TCN vide a letter referenced FMP/OPS/360/I dated September 7, 2016, but, despite these, Nigerians were made to purchase expensive energy by selling the cheapest ones to the foreign countries.”
Another source privy to the “secret deals” said: “The quarterly reports released by the Nigerian Electricity Regulatory Commission for 2022 reveal how a few generating companies under the disguise of selling electricity to the international customers are milking Forex at the expense of other GenCos.
“The sales by the few GenCos are without any transparent procurement process known to any Nigerian Law.
“In 2022, Q 2 alone, the errant GenCos reaped in $7.98 million while $8.94 million invoice was exchanged between them for Q 4 of 2022.
“Part of the energy being sold to the international customers by Nigeria came from the Hydro Electric Generating Companies which is the cheapest cost of energy in Nigeria when compared with the thermal generating plants. The cost of energy from the latter is about six times the cost of the former.
“Prior to when the few GenCos cornered the forex from the international customers, inflows from such transactions were always shared among the entire GenCos in the portfolio of NBET to ameliorate the challenges faced by them in sourcing for foreign exchange.”
‘GenCos sell cheap power to neighbouring countries’
The Nation
metro
One Dead as Hausa, Benue Communities Clash at Port Harcourt Market
One Dead as Hausa, Benue Communities Clash at Port Harcourt Market
Violence broke out in parts of Rivers State following a clash between members of the Hausa and Benue communities over the killing of a trader at a popular market in Port Harcourt.
The incident occurred at the Fruit Market, Oil Mill axis, Rumuokwurusi, in Obio/Akpor Local Government Area, where a disagreement reportedly escalated into a fatal stabbing.
According to the Rivers State Police Command, the crisis began when a trader from Benue State was involved in a dispute with a wheelbarrow pusher over trading space. The argument allegedly degenerated, resulting in the trader being stabbed.
The victim was rushed to a hospital in Port Harcourt but was confirmed dead by medical personnel. News of the killing quickly spread through the market, triggering reprisals and violent confrontations between youths from both communities.
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Eyewitnesses said shops were hurriedly shut as traders fled the area, while properties and goods were damaged during the unrest. The clash caused panic among residents and disrupted commercial activities in the area for several hours.
Security operatives were swiftly deployed to the scene to restore order, while police confirmed that the prime suspect had been arrested and taken into custody. Normalcy was later restored following the intervention of law enforcement agencies.
The police said investigations into the murder and subsequent violence are ongoing, assuring that all those involved will be brought to justice.
Authorities and community leaders have appealed for calm, urging residents to avoid taking the law into their hands while dialogue continues to prevent further escalation.
One Dead as Hausa, Benue Communities Clash at Port Harcourt Market
metro
Tragedy on Enugu–Port Harcourt Highway as 11 Die in Road Accident
Tragedy on Enugu–Port Harcourt Highway as 11 Die in Road Accident
The Federal Road Safety Corps has confirmed the death of 11 persons in a fatal road accident that occurred on Saturday evening along the Enugu–Port Harcourt Expressway.
The Sector Commander of the FRSC in Enugu State, Franklin Agbakoba, confirmed the incident to journalists in Enugu, stating that the crash involved two vehicles and occurred at about 6:46 p.m. near the FRSC Ozalla Unit Command axis of the expressway.
According to him, the victims comprised 10 males and one female.
“A total of 36 persons—including 27 males and nine females—were involved in the collision between a commercial Toyota Coaster bus and an articulated Mercedes-Benz trailer,” Agbakoba said.
He explained that while 11 persons died on the spot, seven others sustained injuries, including three males and four females.
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The injured victims were immediately evacuated to the University of Nigeria Teaching Hospital (UNTH), Ituku-Ozalla, for urgent medical treatment, while the bodies of the deceased were deposited at the hospital’s morgue.
Agbakoba said FRSC operatives swiftly responded to the scene, rescuing victims and clearing debris from the road to prevent further accidents.
“Our personnel cleared all obstructions caused by the crash and have since restored free flow of traffic along the affected section of the expressway,” he said.
Preliminary investigations by the FRSC identified route traffic violation (RTV) and loss of control (LOC) as the likely causes of the crash, though further investigations are ongoing.
The sector commander commended officers and marshals of the FRSC Ozalla Unit Command for their prompt rescue efforts, evacuation of victims, and effective traffic management at the scene.
He also assured that more details would be made public as investigations progress, while urging motorists to avoid speeding, observe traffic rules, and ensure their vehicles are roadworthy, especially on major inter-state highways.
Tragedy on Enugu–Port Harcourt Highway as 11 Die in Road Accident
metro
Kwara Govt, Security Agencies Analyse Terrorists’ Video to Identify Kidnap Victims
Kwara Govt, Security Agencies Analyse Terrorists’ Video to Identify Kidnap Victims
The Kwara State Government has confirmed that it is working closely with security agencies and community leaders to ascertain the identities of kidnapped victims paraded in a video recently released by terrorists operating in parts of the state.
In a statement issued on Saturday, the Commissioner for Information, Bolanle Ojukoju, said government officials and security operatives are carefully analysing the footage to verify the identities of those shown and determine their communities of origin.
“Government officials and security agencies are carefully analysing the video to establish the identities of the individuals shown,” the statement said.
The terrorists had earlier released a video showing scores of abducted residents from Woro and Nuku communities. In the footage, the attackers accused the administration of Governor Abdulrahman Abdulrazaq of allegedly downplaying the number of abducted persons following the attacks.
The state government, however, acknowledged the anxiety caused by the footage, stressing that the exact number of kidnapped victims has not yet been confirmed.
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According to Ojukoju, conflicting reports have continued to emerge since the attacks, making it difficult for authorities to announce a definitive figure.
“Since the incident, there have been varying accounts regarding the number of persons abducted. For this reason, neither the state government nor security agencies have announced a definitive figure.
“Our priority remains the safe rescue of every affected citizen and ensuring that those responsible are brought to justice,” she said.
The government further disclosed that it is actively engaging leaders of the affected communities, particularly Woro, to assist in identifying victims seen in the video.
“We have engaged Woro community leaders to assist in identifying individuals seen in the footage. As of now, a few persons have been preliminarily identified from the video as residents of Woro.
“Community representatives have also indicated that more individuals remain unaccounted for,” the statement added.
Ojukoju also clarified that some persons initially reported missing have since returned to their families, while others may have temporarily relocated to neighbouring areas, including Wawa and New Bussa in Niger State.
The government noted that its response and coordination committee, led by Ahmed Ibn Muhammed, continues to work with security agencies, local authorities, and community stakeholders to manage rescue efforts, humanitarian support, and the safe return of displaced residents.
While sympathising with families affected by the attacks, the state government urged residents to remain calm and avoid spreading unverified information.
“The public is assured that verified updates will be provided as more information becomes available through proper coordination with security and community leaders,” the statement concluded.
Kwara Govt, Security Agencies Analyse Terrorists’ Video to Identify Kidnap Victims
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