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
Anambra: Vigilante arrested for torturing 60-year-old man to death
Anambra: Vigilante arrested for torturing 60-year-old man to death
Two persons have been apprehended in Anambra State over their alleged involvement in the death of a 60-year-old man.
The incident happened in Nza Ozubulu, Ekwusigo Local Government Area of the south east state, according to the police.
The deceased, identified as Mr. Kenneth, was tortured to death by some of his kinsmen, including members of the vigilante operatives over a property dispute.
He was said to have sold a water tank in the family house to resolve some family issues, an act that allegedly prompted his younger brother to arrest him with the help of a vigilante group.
The victim was said to have been subjected to corporal punishment as he was continuously flogged by members of the vigilante operatives engaged by his younger brother.
The wife and children of the deceased have continued to face intimidation and threat over their quest for justice, a source familiar with the development disclosed.
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The source in the community said, “The incident happened some days ago, the man was accused of selling their family water tank. His younger brother went to engage about five vigilante operatives who came to flog him.
“They tied his two hands and continuously flogged him with sticks and other weapons until he became unconscious. They left him after they had seen that he was no longer breathing.
“His wife and children have been subjected to fear and intimidation as they have vowed to deal with them if they continue to seek justice for the death of their father.”
The state police spokesman, SP Tochukwu Ikenga, who confirmed the incident on Friday said one vigilante operative and a relative of the deceased have been arrested.
Ikenga said, “Yes, the incident happened. We have two suspects, one vigilante operative and a relative of the deceased in our custody and they are at the state criminal investigation department at the headquarters.
“Investigation is still ongoing on the matter and we assure you that nothing will be swept under the carpet. More details will be communicated please.”
Anambra: Vigilante arrested for torturing 60-year-old man to death
metro
Friends swap wives for sex weekend in Lekki, activist claims
Friends swap wives for sex weekend in Lekki, activist claims
Nigerian activist, Comrade Israel Joe, has shaken the table again as he claimed that friends now swap their wives for sex in some parts of Lagos State, Lekki to be precise.
He said this abominable act is not only limited to men as some married women in this same Lekki area of Lagos State, bring in their unmarried friends for three some sex romp just to satisfy their husbands sexual urge and propably keep their marriage.
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The activist who has been a prominent advocate for social justice and moral integrity said on his social media handle that in some parts of Lagos, (Lekki), friends now exchange their wives during weekends based on mutual agreement and this needs to stop.
He wrote: “In some parts of Lagos (Lekki), friends now exchange their wives during weekends. #TableBreaker”
“Some wives now bring their unmarried friends to do 3-sum with their husband to satisfy his urge”
Friends swap wives for sex weekend in Lekki, activist claims
metro
Bandit leader who forced community to give him chieftaincy title, 2 other kingpins killed in Zamfara
Bandit leader who forced community to give him chieftaincy title, 2 other kingpins killed in Zamfara
Three bandit kingpins terrorizing Zamfara State, along with some of their fighters, have been killed by a joint security taskforce operating in the state.
According to security expert and counter insurgency expert, Zagazola Makama, the bandit kingpins included Kachalla Mati, Jammo Baki, and a former police officer, Kachalla Yada.
In a post on X handle Saturday morning, Zagazola Makama said: “Update: Security Intelligence, in joint efforts with the Militia Joint Task Force, have neutralized 3 bandit kingpins in the North West on April 26, 2024.
The kingpins included Kachillaha Mati, Jammo Baki, and one other ex-police personnel, Kachallah Yada, as well as several other fighters in Tidibale in Gangara villages of ISA and Sabon Birnin LG Zamfara State.
Jammo was very dangerous and ruthless, to the extent that he forced the community to give him a chieftaincy title.
On the other hand, Kachallah Yadda, who was an ex-police officer, is in charge of training the bandit on weapons handling as well as illicit arms trafficking.
The ‘suyanization” of the three terrorists was a huge blow to the bandits in Zamfara State and a relief to the people of the North West.
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This also got to show that the initiative of the Zamfara state government in collaboration with the security forces since it vowed to never negotiate with bandits but to crush them by any means is yielding positive results.
The recruitment of the Civilian Joint Task Force, popularly known as Askarawa, to go after the bandits in their enclaves and their hideouts was a major game changer.
Just like in the case of the North East, the worst nightmare of the bandits are the “Askarawa,” or Yansakai, as they are popularly called. This was because they have knowledge of the terrain and know the bandits who have in the past operated openly with impunity.
Within the past few months, the Askarawas have captured and killed hundreds of bandits, their informants, and collaborators. They have also recovered thousands of livestock rustled by the bandits, as well as rescued dozens of abducted victims.
This was why the pressure mounted on the bandits in both military, air, and ground offensives is forcing them to beg for “negotiations” through several videos on social media.”
Attempts by PlatinumPost reporters to confirm the killings of the terrorists by relevant security bodies have not yielded the desired results as of the time of filing this report.
Bandit leader who forced community to give him chieftaincy title, 2 other kingpins killed in Zamfara
Anambra: Vigilante arrested for torturing 60-year-old man to death
Relegation threatened Burnley hold Man United to a 1 – 1 draw
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