Business
Benin, Togo owe Nigeria $5.7m electricity debt — NERC
Benin, Togo owe Nigeria $5.7m electricity debt — NERC
The Nigerian Electricity Regulatory Commission, NERC has disclosed that International bilateral electricity customers in Benin Republic and Togo owe Nigeria $5.79m for the energy consumed in the second quarter of 2024.
The NERC revealed this in their latest second-quarter 2024 report analysed by The Punch on Sunday.
According to the report, out of the $15.60m invoice issued by the market operator between April and June, the international customers remitted $9.81m.
The foreign companies off-taking power from Nigeria are Para-SBEE in Benin Republic ($1.23m), Transcorp-SBEE in Benin, Mainstream-NIGELEC in Togo ($1.09m), and Odukpani-CEET in Togo ($3.47m).
Para-SBEE in Benin Republic remitted 71.21 per cent of the $4.29m billed, Transcorp-SBEE in Benin remitted 100 per cent of the $4.25m it was billed; Mainstream-NIGELEC in Togo paid 69.72 of $3.59m, and Odukpani-CEET did not remit anything during the period.
In the first quarter, The PUNCH reported that none of the four international bilateral customers being supplied by the power generation companies made payments against the cumulative invoice of $14.19m issued by the market operator for services rendered.
In the Q2 report, it was noted that some bilateral customers (both domestic and international customers) made payments for outstanding invoices from previous quarters.
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“Cumulatively, the international bilateral customers paid a total of $16.65m; Transcorp-SBEE and Mainstream-NIGELEC have made payments towards all outstanding invoices from previous quarters,” the report disclosed.
It added, “The four international bilateral customers being supplied by Gencos in the NESI made a payment of $9.81m against the cumulative invoice of $15.60m issued by the MO for services rendered in 2024/Q2, translating to a remittance performance of 62.88 per cent.”
The NERC noted that the domestic bilateral customers made a payment of N1.30bn against the cumulative invoice of N1.99bn issued to them by the MO for services rendered in 2024/Q2 translating to 65.07 per cent remittance performance.
The market operator received N1.30bn from domestic bilateral customers towards outstanding invoices from previous quarters.
Mainstream Energy Solutions was said to have made payments towards all outstanding invoices from previous quarters.
On electricity subsidy, it was disclosed that between 2024/Q1 and 2024/Q2, the Federal Government’s subsidy obligation was reduced by N253.24bn from N633.30bn (90.57 per cent of the total Genco invoice) to N380.06bn (52.51 per cent of the total Genco invoice).
“The significant decrease in the subsidy obligation of the Federal Government is a result of the policy directive of the government to implement reviews of tariffs charged to Band A customers while the tariffs for Band B-E customers remain frozen at the rates payable since December 2022,” it was explained.
The commission revealed that the total revenue collected by all Discos in 2024/Q2 was N431.16bn out of the N543.64bn that was billed to customers. This translates to a collection efficiency of 79.31 per cent.
In comparison, the total revenue collected by all Discos in 2024/Q1 was N291.62bn out of the N368.65bn billed to customers which translated to a 79.11 per cent collection efficiency.
The 79.31 per cent collection efficiency recorded in 2024/Q2 is 0.20pp higher than the collection efficiency recorded in 2024/Q1.
Benin, Togo owe Nigeria $5.7m electricity debt — NERC
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Aviation
Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road
Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road
The Federal Government has grounded a private aircraft and suspended its operator’s permit following a dramatic incident in which the aircraft made an emergency landing on a road under construction near Asaba and later departed without regulatory clearance.
Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed the development in a statement posted on his X account, describing the incident as a serious breach of aviation regulations and security protocols.
According to Keyamo, the aircraft carried out a missed approach while attempting to land at Asaba Airport at about 7:43 a.m. local time on Wednesday, June 10, 2026, before diverting and landing on a concrete road under construction in the Ogwashi-Uku area of Delta State. He said eyewitness reports confirmed that all four crew members on board safely exited the aircraft and were later transported to Asaba by road, with no injuries recorded. A short video that surfaced online showed the aircraft stationary on the concrete road before taxiing along the road being reconstructed and taking off.
Keyamo expressed concern over the aircraft’s subsequent departure from the scene at about 11:02 GMT (12:02 p.m. local time) without obtaining the required regulatory approval. He said Air Traffic Control was only notified after the aircraft had already taken off, noting that the aircraft had no clearance for departure. “In other words, the aircraft had no clearance to take off again,” he said. The Nigerian Civil Aviation Authority (NCAA) , in a statement signed by its Director of Public Affairs and Consumer Protection, Michael Achimugu, confirmed that the action constituted a violation of the Nigeria Civil Aviation Regulations (Nig. CARs) and is currently under investigation.
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Following the incident, the NCAA immediately grounded the aircraft upon its arrival in Lagos, pending the outcome of investigations. The Authority also placed the flight crew under regulatory review while inquiries continue into both the initial occurrence and the unauthorised departure. As part of enforcement actions, the NCAA suspended the operator’s Permit for Non-Commercial Flight (PNCF) and ordered a comprehensive audit of its operational, maintenance, airworthiness, and flight records. “The NCAA will take further enforcement action in accordance with applicable aviation regulations,” Keyamo stated. The regulator has formally notified the Nigerian Safety Investigation Bureau (NSIB) of the occurrence and is coordinating with relevant aviation stakeholders, including the aircraft operator and the Nigerian Airspace Management Agency (NAMA) , to establish the full circumstances of the incident.
Keyamo confirmed that security agencies had taken custody of the crew members for questioning as part of ongoing investigations. “I have also spoken to relevant security agencies and I have been assured that the crew are in their custody and they are assisting them with their investigation,” the minister said.
Authorities say the incident will be thoroughly reviewed to prevent future breaches of aviation safety and regulatory procedures. The NCAA reiterated its commitment to maintaining the highest standards of aviation safety, security, and regulatory compliance within the Nigerian aviation sector. “No individual or operator, irrespective of status, will be permitted to circumvent established aviation procedures designed to safeguard lives and maintain the integrity of Nigeria’s airspace system,” the ministry stated.
Keyamo Orders Probe, Grounds Aircraft After Unauthorized Landing on Asaba Road
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Business
Seplat Picks Elumelu as Chairman, Names Okon New CEO
Seplat Picks Elumelu as Chairman, Names Okon New CEO
Seplat Energy Plc has announced a major leadership transition that will see businessman and investor Tony Elumelu become chairman of the company from January 1, 2027, while industry veteran Effiong Okon takes over as chief executive officer from August 1, 2026.
The appointments are part of a succession plan approved by the board to ensure continuity and support the company’s next phase of growth.
Current Chairman, Senator Udo Udoma, will retire on December 31, 2026, while Chief Executive Officer Roger Brown will step down on July 31, 2026 after more than a decade with the company.
Confirming Elumelu’s appointment, Seplat said he was elected by the board to succeed Udoma. Elumelu, Founder and Chairman of Heirs Holdings, joined Seplat’s board in January 2026. Heirs Holdings holds a 20.07 per cent stake in the energy company.
Reacting to his appointment, Elumelu said he was honoured by the confidence reposed in him by the board.
“I am honoured to succeed Senator Udoma as chairman in January 2027 and to lead the board through Seplat Energy’s next phase of growth,” he said.
Elumelu stressed the importance of indigenous energy companies in driving economic development across the continent, noting that “the critical role indigenous resources play in the economic transformation of Nigeria and Africa” remains central to his vision for the company.
He also commended the outgoing chairman and chief executive for their stewardship, saying he looked forward to working with the incoming CEO to deliver greater value to shareholders.
The board also appointed Okon as CEO and Executive Director. Okon, who has more than 35 years of industry experience, has held several leadership positions within Seplat since joining the company in 2018. Most recently, he served as Managing Director of the ANOH Gas Processing Company, where he led the project to first gas production in January 2026.
Expressing his readiness for the role, Okon said: “My immediate focus will be on ensuring the company executes the 2030 Roadmap, alongside development of the long-term plan to ensure we deliver on the immense potential inherent in our portfolio.”
Seplat said Brown leaves behind a strong legacy, having helped steer the company through significant expansion, including its dual listing in 2014 and major acquisitions such as Eland Oil & Gas in 2019 and Mobil Producing Nigeria Unlimited in 2024.
Brown described his time at the company as a privilege, saying he was proud to have helped build a business known for financial resilience, strong governance and shareholder value.
Udoma, meanwhile, praised Brown for his outstanding contribution to the growth of Seplat into one of Africa’s leading independent energy companies.
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Railway
NRC Confirms Warri–Itakpe Train Accident, Three Passengers Dead
NRC Confirms Warri–Itakpe Train Accident, Three Passengers Dead
Three passengers reportedly died and many others injured on Monday following the derailment of a train operating on the Warri–Itakpe Train Service (WITS), raising fresh concerns about safety and operational challenges on one of Nigeria’s most important standard-gauge railway corridors.
The accident occurred at Agbor, Delta State, along the Warri–Itakpe route, according to the Nigerian Railway Corporation (NRC).
In a statement signed by the Managing Director and Chief Executive Officer of the NRC, Dr. Kayode Opeifa, the corporation disclosed that rescue and emergency operations were ongoing while efforts were being made to determine the full extent of the accident.
“The Nigerian Railway Corporation confirms that an incident involving the Warri–Itakpe Train Service occurred today. Emergency response teams and relevant authorities are currently at the scene attending to the situation and providing necessary assistance,” the statement said.
The NRC said it was closely monitoring developments and promised to provide further details as investigations progress.
Although the corporation did not immediately state the number of casualties or injuries, sources familiar with the incident said three passengers lost their lives in the derailment.
Monday’s accident is the latest setback for the rail corridor, which has experienced a series of operational disruptions in recent years.
In April 2025, the NRC suspended train operations on the Warri–Itakpe route for 72 hours after a major technical failure left hundreds of passengers stranded in a remote forest area in Kogi State for several hours.
The disruption sparked public outrage and renewed scrutiny of the reliability and maintenance of the service.
The corporation attributed the incident to multiple engine failures and subsequently launched investigations while carrying out repairs before resuming operations.
The Warri–Itakpe line has also faced vandalism of railway infrastructure and security concerns along parts of the corridor.
Commissioned as Nigeria’s first standard-gauge rail line dedicated initially to freight movement before passenger services were introduced, the route links Warri in Delta State with Itakpe in Kogi State, serving thousands of passengers and facilitating the movement of goods across several states.
Transportation stakeholders have repeatedly called for stronger safety measures, improved maintenance culture and increased investment in rail infrastructure to prevent recurring incidents and enhance public confidence in the country’s rail transport system.

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