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Electricity: Niger, Togo, others fail to pay $14.19m Q1 debt owed Nigeria
Electricity: Niger, Togo, others fail to pay $14.19m Q1 debt owed Nigeria
Nigeria’s financial challenges have taken another hit as international customers failed to settle a whopping $14.19 million electricity bill for the first quarter of 2024.
The alarming revelation sprang from the Nigeria Electricity Regulatory Commission’s (NERC) Q1 2024 report, which highlighted the persistent non-payment by all four of Nigeria’s international electricity customers.
The customers, comprising neighbouring countries such as Benin Republic, Niger, and Togo, have left Nigeria’s Market Operator (MO) with a substantial unpaid debt.
Analysts noted that the worrisome development remains a lingering issue that must be urgently addressed, as international clients’ repeated failure to honour their financial obligations would continually drain Nigeria’s purse.
The NERC report also shed light on a similar pattern within Nigeria. Domestic bilateral customers, who were billed a total of N1.86 billion for the same period, have also defaulted on their payments. The report clearly states, “In 2024/Q1, none of the four (4) international bilateral customers serviced by the MO made any payment against the $14.19 million invoice issued to them by the MO for services rendered in 2024/Q1. Similarly, none of the bilateral customers within the country made any payment against the cumulative invoice of N1,860.11 million issued to them by the MO for services rendered in 2024/Q1.”
However, the report does note some progress in clearing previous debts. Two international customers managed to pay approximately $5.19 million, while eight domestic customers settled about N505.71 million from past quarters. Although this is a step forward, the recurring failure to meet current payment obligations continues to strain Nigeria’s already troubled financial landscape.
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On the domestic front, Nigeria’s Distribution Companies (DisCos) were billed a staggering N114.12 billion for upstream services in Q1 2024. This amount covers N65.96 billion for generation costs and N48.16 billion for transmission and administrative services. Despite this significant billing, the DisCos managed to remit N110.62 billion, leaving a shortfall of N3.50 billion. Nevertheless, their remittance performance of 96.93 per cent marks a notable improvement from the 69.88 per cent recorded in the previous quarter, reflecting a more concerted effort to address the financial bottlenecks within the sector.
Yet, the problem of unpaid international electricity debts looms large. In 2023, the federal government reported an outstanding $51.26 million owed by international customers for electricity exported from Nigeria.
To mitigate this, the government in May 2024 issued a directive limiting the supply of electricity to international customers to no more than 6 per cent of the total grid generation per hour.
In addition, the Nigerian Electricity Regulatory Commission (NERC) has criticized the ongoing practice of prioritizing international customers over local distribution companies (DisCos) during grid imbalances. The commission called this approach both inefficient and unfair, demanding a recalibration of priorities. Under a new order, electricity generation companies are now required to allocate no more than 10 per cent of their generation capacity to international off-takers over the next six months.
As Nigeria navigates these turbulent waters, the unresolved debts, both international and domestic, threaten to undermine the stability of the nation’s electricity sector, further exacerbating the country’s broader financial woes.
Electricity: Niger, Togo, others fail to pay $14.19m Q1 debt owed Nigeria
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Nigeria Customs Service begins 2025 recruitment [How to apply]
Nigeria Customs Service begins 2025 recruitment [How to apply]
The Nigeria Customs Service (NCS) has announced the commencement of its recruitment exercise, assuring Nigerians that the process is entirely free and fair.
The agency has cautioned the public to be vigilant against scammers who may attempt to exploit unsuspecting applicants during the recruitment period.
Applications are invited for positions in the Superintendent, Inspector, and Customs Assistant cadres as part of the Service’s plan to recruit 3,927 officers in 2025.
This initiative is aimed at enhancing trade facilitation and supporting Nigeria’s economic recovery efforts.
“Our recruitment is entirely free and fair. At no stage do we charge fees. Anyone requesting payment is a scammer,” the agency emphasized, urging applicants to be wary of fraudulent schemes.
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The NCS outlined eligibility criteria, stating that applicants must be Nigerian citizens by birth, possess a valid National Identification Number (NIN), and have no criminal record or ongoing investigations.
Academic qualifications for the three cadres are as follows:
Superintendent Cadre: A university degree or Higher National Diploma (HND) along with an NYSC discharge or exemption certificate.
Inspectorate Cadre: A National Diploma (ND) or Nigeria Certificate in Education (NCE) from an accredited institution.
Customs Assistant Cadre: At least an O’Level certificate (WAEC or NECO).
In addition to these qualifications, the NCS stressed that all applicants must be physically and mentally fit, providing evidence of medical fitness from a recognized government hospital.
Nigeria Customs Service begins 2025 recruitment [How to apply]
News
Tinubu to critics: I won’t reduce my cabinet size
Tinubu to critics: I won’t reduce my cabinet size
President Bola Tinubu on Monday unequivocally responded to critics who described his cabinet as “bloated” by saying he is unprepared to reduce the size of his 48-man cabinet.
“I am not ready to shrink” the size of my cabinet, Tinubu said during a media chat at his Bourdillon residence in the highbrow Ikoyi area of Lagos State.
“I am not prepared to bring down the size of my cabinet,” the former Lagos governor said, arguing that “efficiency” has been at the core of his selection of ministers.
The president also said he has no regret removing the petrol subsidy in May 2023, saying Nigeria cannot continue to be Father Christmas to neighbouring countries.
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“I don’t have any regrets whatsoever in removing petrol subsidy. We are spending our future, we were just deceiving ourselves, that reform was necessary,” he told reporters.
Tinubu appointed 48 ministers in August 2023, three months after his inauguration. The Senate immediately screened and confirmed the ministers. One of the ministers, Betta Edu, was suspended in January while another, Simon Lalong, moved to the Senate.
There were calls for the President to reshuffle his cabinet as many Nigerians have not been impressed by the performance of some of the ministers, especially in the face of unprecedented inflation, excruciating economic situation and rising insecurity.
In October 2024, Tinubu re-assigned 10 ministers to new ministerial portfolios and appointed seven new ministers for Senate confirmation. He also sacked five of his ministers but critics insist that the President’s cabinet remains large, especially with the creation of a Livestock Ministry with a minister.
Tinubu to critics: I won’t reduce my cabinet size
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Tinubu: Food stampede incidents, grave error
Tinubu: Food stampede incidents, grave error
..Don’t publicise gifts distribution if you don’t have enough
President Bola Tinubu has described the recent three stampede incidents during distribution of relief materials to children and others as a grave error.
He told people to be more organised and stay away from giving palliative or publicity of the giving if they had insufficient materials.
He stated this during his first presidential media chat on Monday.
The President said he had been sharing palliatives in his Lagos residence for 25 years without any incident and blamed the recent food stampedes in the country on poor organisation.
A total of 35 children died on December 18 during a stampede that happened at a funfair event in Ibadan, Oyo State.
10 people, including children, also died on December 21 in another stampede at the Holy Trinity Catholic Church in the Maitama district of Abuja during the distribution of palliatives.
Another 22 people were reported dead during a rice distribution event at Amaranta Stadium in Ojika, Ihiala LGA, on the same day.
“It’s unfortunate and very sad, but we will continue to learn from our mistakes. I see this as a grave error on the part of the organisers,” he said.
But the President insisted that the incidents should not dampen the “happiness of the season”.
“It is very sad that people are not well organised. We just have to be more disciplined in our society. Condolences to those who lost members, but it is good to give,” Tinubu said.
“I’ve been giving out foodstuff and commodities, including envelopes in Bourdillon, for the last 25 years, and I’ve never experienced this kind of incident because we are organised and disciplined.
“If you know you won’t have enough to give, don’t attempt to give or publicise it.”
The President compared the situation to food banks in countries such as the United States of America (USA) and Britain, noting their structured approach.
“Every society, even in America, has food banks. They have hungry people. In Britain, they have food banks and warehouses, and they are organised. They take turns m lining up and collect,” he added.
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