More small-scale businesses may suffer as the Nigerian Electricity Regulatory Commission has approved over 50 per cent increase in electricity tariff.
The new tariff regime to be paid by customers of the 11 electricity distribution companies will take effect from January 1 this year.
This is coming about two months after NERC forced the implementation of an earlier hike in electricity tariff despite opposition against it.
Already, many businesses have not recovered from the twin-tragedy of COVID-19-induced months of lockdown and #EndSARS protests hijacked by hoodlums that massively looted and vandalised companies across the country.
NERC announced the latest tariff hike in its December 2020 minor review of the Multi-Year Tariff Order and Minimum Remittance Order obtained in Abuja on Tuesday.
The MYTO order containing the latest tariff hike, Order NERC/225/2020, was signed by the new Chairman of NERC, Sanusi Garba, superseding the previous Order NERC/2028/2020.
The commission explained that it considered the 14.9 per cent inflation rate rise in November 2020 and foreign exchange of N379.4/$1 as of December 29, 2020 before approving the new rate.
Others factors considered, according to NERC, are available generation capacity, the United States inflation rate of 1.22 per cent and the capital expenditure of the power firms.
The revised Service-Based Tariff saw an increase in the rates payable by the various classes of electricity users unlike that of November 2020 that exempted low electricity consumers.
The commission also stated that the new tariff would be effective till June 2021 while a Cost Reflective Tariff would be activated from June to December 2021.
The commission said last month that it was carrying out a review for another tariff.
In September last year, the commission raised electricity tariff but this was faced with stiff opposition by the organised labour, as the unions threatened to embark on a nationwide strike.
After a series of negotiations, the tariff was reduced based on consumer classes and the hours of power supply.
On November 1, 2020 the Discos commenced the implementation of the revised electricity tariff that was jointly agreed upon by organised labour and the Federal Government.
NMDPRA seals 16 gas plants, arrests five suspects in Edo
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has sealed 16 illegal gas facilities in Edo State.
Some filling stations were also sealed over an alleged breach of rules and regulations.
The agency arrested five suspects during the exercise.
The agency’s state comptroller, Ebi Ogionwo, said the clampdown was to curb the activities of illegal and unlicensed oil and gas operators in the state.
He alleged that some misguided operators were setting up oil and gas facilities in areas not suitable for the business and without necessary approval from the agency.
Ogionwo said, “It is an offence for anyone to site such facilities without due approval from the NMDPRA. The agency is out to bring sanity to the operations of midstream and downstream petroleum business in the state.”
He further warned investors against taking laws into their hands by setting up gas and petroleum facilities in areas not approved by the agency.
Ogionwo said five suspects arrested during the exercise would be charged to court.
“There are laws, guidelines and regulations that people must follow before setting up oil and gas facilities. So, the purpose of the operations is also to check the level of compliance by those who have set up these facilities in the state and take necessary actions that are required,” he said.
Ogionwo added that the illegal operations of oil and gas facilities compromised the safety of lives, property, environment as well as deprived both the state and Federal Governments of the revenue that should accrue to them through taxes and other sources.
Lagos suspends RTEAN activities, sets up caretaker committee
The Lagos State Government has suspended all activities of Road Transport Employers Association of Nigeria (RTEAN) in the state.
Special Adviser to the Governor on Transportation, Sola Giwa, who announced the suspension, said the action became imperative following some pockets of violence recorded in Ojo and Lagos Island on Wednesday.
Already, he said a 35-man caretaker committee had been constituted to take over activities of the union.
The caretaker committee is headed by Sulaiman Adeshina Raji, with Bamgbose Oluseyi as deputy chairman and members are Sunday Aransiola, Sulaiman Onabanjo, Azeez Abdulrahman, Isiaka Seriki, Victor Ifemenam, Kareem Babatunde, Amusan Abdulrahman, Teslim Adeshina, Sulaiman Surajudeen and Fatai Rauf.
Others are Sunday Banjo, Segun Omole, Thomas Akinkayode, Taiwo Lasisi, Gbenga Kashimawo, Samson Ajala, Taiwo Daodu, Sule Aliu, Ahmed Musa and Oladipupo Ibrahim. Adewale Adeniyi, Olatunji Durojaiye, Wasiu Olanrewaju, Taofeek Onileola, Yusuf Afolabi, Bode Ogungbade, Alh. A.A. Ussaini, Saliu Usman, Saheed Badru, Kolawole Yusuf, Kayode Thomas, Idowu Oyewole and Salami Babatunde Ope, are to also join them.
Giwa reiterated that suspension became necessary to prevent further acts of violence in the state, stressing that men of the Lagos State Police Command would be deployed in different parts of the state to enforce the action and ensure safety of lives and property.
He said the state government met with some representatives of the RTEAN on Wednesday, following a protest by some members of the union demanding the removal of their national president, adding the government had assured them of a thorough investigation into the allegations levelled against the union’s president with a promise to resolving all lingering issues.
Ade.Ojo hails Mandilas GM @60, says Toyota family proud of you
The Founder of Toyota Nigeria Limited, TNL, Chief Michael Ade Ojo, has described the General Manager of Mandilas Motors, Ms. Kemi Koyejo as a performer, who takes her job very seriously.
Chief Ade Ojo, who spoke at the MUSON Centre, Lagos during the 60th birthday ceremony of Koyejo as the chairman of the occasion, showered encomiums on the GM for her contributions towards driving Toyota brand sale and development in Nigeria.
He said, “Olukemi is a performer, a wonderful lady, who takes her job very seriously. She is “Lady Toyota”. She never misbehaves and I want to pray that God should continue to bless you the more.”
Chief Ade Ojo, who recalled that Kemi’s father was his senior in high school, expressed no surprise at Kemi’s sterling performance and behaviour, given her family background.
“The Toyota family in Nigeria is very proud of you and God will continue to be with you,” he prayed.
The 84-year-old business mogul attended the event with his wife, and senior management staff of Toyota Nigeria Limited including the Managing Director, Mr. Kunle Ade Ojo.
Reiterating Chief Ade Ojo’s commendation on the Mandilas General Manager, the Managing Director of Toyota, Mr. Kunle Adeojo, also said that the Mandilas General Manager is very hard-working and has brought many ideas that have led to the growth of the Toyota brand in Nigeria.
He also used the occasion to announce that the Nigerian Institution of Mechanical Engineers has conferred on him a Fellow of the institute.
A trained engineer, Mr. Kunle Ade Ojo, has been at the helm of affairs at TNL and has taken the company to greater heights despite the challenges in the Nigeria’s auto sector.
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