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70% of Nigerians Lack of Access to Electricity—Shettima

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Electricity Sector

By Adedapo Adesanya

Nigeria’s Vice President, Mr Kashim Shettima, has said between 40 and 70 per cent of Nigerians still lack formal access to electricity, underscoring the urgent need for reform in the nation’s power sector.

Mr Shettima worried that the power sector crisis is crucial for Nigeria’s economic development and industrialization, noting that countries like Indonesia, India, and South Africa, have overcome energy insufficiency and were now leading in economic advancement.

Speaking at the inauguration of the National Economic Council (NEC) Ad Hoc Committee on National Electrification at the Presidential Villa in Abuja, he urged leaders in the country to rise above differences to confront the power sector crisis and become part of the reincarnation of Nigeria as an industrialized nation.

The Vice President said there is no way Nigeria could dream of meaningful national economic development without addressing the power sector crisis and ensuring Nigerians have access to electricity and other affordable energy.

“An estimated 40-70 per cent of Nigerians have no formal access to electricity. There is no doubt that we cannot dream of meaningful national economic development without addressing the issue in the power sector and ensuring that Nigerians have accessible, available and affordable energy,” he stated, acknowledging the basic challenges in the nation’s power sector, especially the national grid which has been witnessing system collapse.

The VP, however, expressed hope that there will soon be significant improvement following the recent reforms in the energy sector which have opened the sector, “not only to the participation of, otherwise, excluded players, but also to attract investments, both foreign and local.

“I believe we are well endowed with resources, be it gas, hydro or solar, that allow us to have an optimal energy mix and leverage these resources to build a sector in a resilient manner that ensures energy security for every Nigerian,” he added.

The Vice President urged members of the National Electrification ad hoc committee to come on board and work for the nation.

“I wish you the best as you embark on this critical assignment, and I want to assure you of my availability as you discharge this onerous assignment. With this, I hereby inaugurate the NEC ad hoc committee on National Electrification Strategy and Implementation Plan,” Mr Shettima said.

On his part, the Chairman of the NEC Ad Hoc committee on National Electrification and Cross River State Governor, Mr Bassey Edet Otu, noted that the Vice President has empanelled the committee with four terms of reference to change the ugly history of incessant national grid collapse in the country, revealing that their next task is to get down to work, and do so assiduously until they produce credible, achievable and sustainable results.

“In the command list, one is to put an end to consistent grid collapse in the energy sector and to work towards deepening states’ engagement within the Electricity Reform Act 2023 to address the challenges in the power sector to the best expectation of Nigerians and the National Electrification Strategy and Implementation Plan.

“These tasks are tall but looking at the members of the committee, we are individually and collectively taller, especially in our avowed commitment to the Renewed Hope Agenda of Mr. President and the golden ethos of nation-building,” he said.

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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FG Pledges to Revive Atlantic Refinery Project

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Atlantic Refinery Project

By Adedapo Adesanya

The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has expressed dismay over the abandonment of the Atlantic Refinery project in Brass Local Government Area of Bayelsa State, promising to rejuvenate it.

Mr Lokpobiri made this commitment during an inspection visit to Ewa-ama Road, which leads to the Brass Petroleum Products Terminal (BPPT), where he engaged with key community stakeholders.

He assured stakeholders that the federal government would review the project to ensure its eventual completion.

“The federal government remains committed to completing critical infrastructure projects that drive economic growth and improve livelihoods. This project will be thoroughly reviewed to ensure its eventual completion,” he pledged.

The Minister commended the people of Brass for their peaceful disposition despite the challenges posed by the refinery’s abandonment, urging them to sustain the peace.

“Stability is crucial for attracting further investments and development to the region,” he emphasised.

Reaffirming President Bola Tinubu’s commitment to delivering on key development projects, Mr Lokpobiri reiterated that the government remains dedicated to advancing initiatives that will benefit the Niger Delta.

The Minister was accompanied on the visit by Mr Farouk Ahmed, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as part of efforts to assess and fast-track key projects in the region.

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Obi Urges Transparency, Accountability as 2025 Budget Swells 9%

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Peter Obi Prioritize Economic Recovery

By Adedapo Adesanya

The presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has called for transparency and accountability as a result of the recent increase in the 2025 budget by 9.1 per cent to N54.2 trillion.

Mr Obi, in a message on X, the social media platform formerly known as Twitter, said while the sources of revenue were detailed, there was no corresponding breakdown of expenditures to justify the budget increase.

President Bola Tinubu on Wednesday raised the proposed budget by 9 per cent from N49.7 trillion to N54.2 trillion, citing additional revenues generated by key government agencies such as the Federal Inland Revenue Service (FIRS), the Nigeria Customs Service (NCS), and other government-owned agencies.

Mr Obi, in his message, stressed the need for Nigerians to be informed on how public funds are allocated and spent.

“For transparency and accountability sake, Nigerians need to know how the resources generated from them are being allocated to ensure that they are judiciously spent on the country’s development and the well-being of the people,” Mr Obi said.

He added that budgetary expenditures should be directed toward critical areas of development, including education, healthcare, security, and poverty alleviation, to ensure meaningful impact on citizens’ lives.

“Yesterday, I read about the increase in the Budget of Restoration to ₦54 trillion due to increased revenue.

“While the sources of this revenue were detailed, there is no corresponding breakdown of expenditures to justify the increase. For transparency and accountability sake,” part of the statement read.

He said Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget, which was passed in December 2023, calling on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget of Renewed Hope budget.

He also called on lawmakers and government officials to prioritise openness and accountability to safeguard public trust as preparations begin for the 2025 Budget of Restoration.

“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress.

“As we work towards passing the Budget of Restoration for 2025, let us uphold openness, accountability, and the welfare of the Nigerian people. We owe it to ourselves, our children, and the future of our great nation,” he stated.

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Fidelity Bank MD Lauds Soludo’s Prudent Spending of Anambra Funds

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Nneka Onyali-Ikpe fidelity bank md charles soludo

By Modupe Gbadeyanka

Governor Charles Soludo of Anambra State has been applauded by the chief executive of Fidelity Bank Plc, Mrs Nneka Onyali-Ikpe, for the infrastructural development in the state.

The banker said she was marvelled at the avalanche of projects in the state and how the Governor has managed the scarce funds of the state without borrowing.

“I am very impressed with the quality, size, and finishing of the projects being executed in this state without borrowing from financial institutions,” Mrs Onyali-Ikpe said during a tour of projects in Anambra State on Wednesday.

“I’m blown away by the size of infrastructure that I’m seeing today; the contemporary architecture, the finishing, and the size of it. It is intimidating. I’m excited that we finally have something that befits our state, Anambra.

“I’m interested in knowing how Soludo is building the infrastructure without borrowing money,” the Fidelity Bank chief said.

During the tour, the banking executive, accompanied by the Deputy Chief of Staff and Chief of Protocol to Governor Soludo, also visited the ongoing Anambra State government house and lodge with Amphitheatre, the Solution Fun City, a centre for funfair and celebrations, amongst others.

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