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CBN Releases N33.2bn to DisCos for Mass Metering

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Mass Metering

By Adedapo Adesanya

The Nigerian Electricity Regulatory Commission (NERC) has disclosed that the Central Bank of Nigeria (CBN) has so far released the sum of N33.2 billion to electricity Distribution Companies (DisCos) in the country for the mass metering of Nigerian households.

The commission noted that the figure is out of the N59.2 billion earmarked for the National Mass Metering Project (NMMP) of the President Muhammadu Buhari-led federal government.

The disclosure came from the NERC chairman, Mr Sanusi Garba, while speaking during an interactive session among the Senate Committee on Power, NERC officials and representatives of the DisCos in Abuja.

Mr Garba explained further that the project, which is targeted at one million unmetered houses across the country and billed for execution between October 2020 and April 2021, has only attained 13 per cent implementation as of March 19, 2021.

According to him, “While 403,000 out of the targeted one million meters have been delivered to the various DISCOs, only 127,000 have been installed, representing 13 per cent performance.”

He added that, “The target performance duration for the project which is Phase One, entailing metering of one million houses across the country in reducing the metering deficit of 6.5 million, is six months, that is from October 2020 to April 2021.

“Though out of the N59.2 billion earmarked for the project, N33.4 billion has been released to the various DISCOs by the Central Bank of Nigeria but disbursement of the releases were very slow which resulted in many of them, accessing the fund in February.

“This largely contributed to the poor performance percentage by the DisCos for now, on the National Mass Metering Project.

“But with the chunk of the funds available to the DisCos now, the implementation performance index will rise astronomically within the next few weeks.

The federal government launched the NMMP in respect of which the CBN, in October 2020, issued the framework for financing of the project.

The framework seeks to, amongst others, increase the country’s metering rate and eliminate arbitrary estimated billing.

Through this guideline, the CBN will provide financing support to the DisCos for the procurement of meters for customers and the local meter manufacturers.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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CNPP Begs Wike for Certificates of Occupancy Payment Deadline Extension

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FCT Minister Wike

By Modupe Gbadeyanka

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has been urged to extend the deadline for the payment of Certificates of Occupancy (C of O) by property owners in Abuja.

This plea for an extension was asked by the Conference of Nigeria Political Parties (CNPP) through a statement signed by its Deputy National Publicity Secretary, Mr James Ezema.

The group said the initial two-week grace period given to the affected allottees, which expired on Friday, January 3, 2025, was insufficient, considering the current economic challenges facing the country.

Recall that after public outcries, Mr Wike, who is the immediate past governor of Rivers State, granted an extension to the owners of the 762 revoked plots of land in Maitama, Abuja.

“We are appealing to the Minister and the Federal Capital Territory Administration (FCTA) to tamper justice with mercy and issue an extension in the spirit of the yuletide and in view of the economic challenges in the country,” the association stated.

It stressed that the extension would give the affected individuals and groups ample time to comply with the directive, thereby avoiding any undue hardship or loss.

“We pray that the Minister and the FCTA will grant the allottees an extension to comply with the directive, giving all the affected individuals and groups enough time to have themselves to blame at the end of the final extension,” the statement added.

The CNPP’s appeal comes on the heels of its recent expression of concern over the escalating hunger and suffering faced by millions of Nigerians due to the economic realities in the country.

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All Farmers Association of Nigeria Dissociates Self From Ado Kano

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North-East Farmers

By Adedapo Adesanya

The All Farmers Association of Nigeria (AFAN) has dissociated itself from an unofficial viral statement by one of it members, regarding posters indicating activities of the organisation.

The group dissociated itself from the member in a statement signed by its National President and the National Secretary, Mr Kabiru Ibrahim, and Mr Yunusa Halidu, respectively.

“This post is made by an authorized member, Ado A Ado Kano.

“The opinions and views expressed here are those of the author and do not reflect the official policy or position of the group, its administrators, or other members.

“For official statements, please refer to AFAN official contact or platform,” parts of the statement made available to Business Post stated.

According to AFAN, the unofficial posters flying around doesn’t represent the association, noting that Mr Kano is not authorized by AFAN or its officials but those of the author.

AFAN is the umbrella organisation for all farmers’ commodity associations in Nigeria.

Its vision and mission are to assemble all Nigerian producers into one organization, providing a single interlocutor for the government to address agricultural issues with the farming community.

AFAN was formed by the merger of the All-Farmers Association of Nigeria (ALFA) and the National Farmers’ Association of Nigeria (NAFAN).  The merger was recommended by former Nigerian president, Mr Olusegun Obasanjo.

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BUA Debunks Claims of 90% Completion of Refinery in Akwa Ibom

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BUA Pasta Processing Plant

By Adedapo Adesanya

BUA Group has denied widespread reports that its ongoing construction of a 200,000 barrels per day capacity refinery located in Akwa Ibom State is 90 per cent completed.

In a statement signed on Sunday, the group with subsidiaries in food, cement, and energy sectors said that the claims that the structure was at end stage did not come from it.

“Contrary to a misleading report stating that our 200,000 barrels/day refinery is at 90% completion, BUA wishes to advise the public to disregard such misleading reports that did not emanate from us,” a part of the statement read.

It clarified that the project was progressing well and added that it was going to meet the project timeline of 2025.

“As we make remarkable strides on our Akwa Ibom refinery project, we are proud to share that construction is progressing steadily.

“Whilst the refinery is not at 90% completion, we are however on track to meet our delivery timelines in collaboration with our partners.

“This BUA Refinery & Petrochemicals project represents a major milestone in strengthening Nigeria’s refining capacity and energy security,” the group said.

BUA is also carrying out other energy projects, including the construction of a mini-LNG plant and several new hybrid power plants across the country, which it said are also progressing rapidly.

The group says this will add additional capacity to our over 1,000MW installed captive power generation capacity.

“The public is advised to verify any news through our official channels and platforms so as not to be misled by mischievous persons,” the statement said.

“At BUA, we remain committed to transparency and excellence. As we have consistently done with over 12 of our completed mega industrial projects worth over $ 3.5 billion in the past 10 years, we will continue to keep you updated with verifiable and accurate information only where necessary, and as milestones are achieved.

“We appreciate the public’s interest and enthusiasm for this transformative project as we work together in building a stronger industrial and manufacturing base for a self-reliant Nigeria,” it added.

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