General
Eko Disco Assures Customers Improved Electricity Supply
By Modupe Gbadeyanka
Consumers of electricity under the franchise network areas of Eko Electricity Distribution Company Plc (Eko Disco) have been assured of an improved supply.
This assurance was given by the Managing Director of Eko Disco, Mr Adeoye Fadeyibi, when the energy firm sealed a deal with the Niger Delta Power Holding Company (NDPHC) recently in Lagos.
Mr Fadeyibi explained that the desire to improve the quality of electricity supply to its customers triggered the collaboration with NDPHC, thanking the customers for their support and patience.
Eko Disco supplies energy to customers living around the Ibeju-Lekki area in Lagos and the Agbara Industrial area in Ogun State.
The deal with NDPHC is for the sale of up to 300MW of power from NDPHC’s power plants to customers in these areas within Eko Disco’s franchise areas.
The sealing of the transaction was witnessed by the Governor of Lagos State, Mr Babajide Sanwo-Olu, at the Lagos House, Marina.
The project will be structured to remove the commercial and technical inefficiencies in the Nigerian electricity market and will mobilise significant capital investment in transmission/distribution infrastructure and metering technology.
Commenting on the transaction, the MD/CEO of NDPHC, Mr Chiedu Ugbo, stated that the challenges in the industry inspired NDPHC to “source alternative means to sell and ensure dispatch of its stranded power generation capacity and explore innovative ways to unlock investment in infrastructure for improved supply to customers.”
The agreement signed between NDPHC and Eko Disco is only the latest milestone in NDPHC’s innovative and ambitious programme to tackle the industry-wide challenges in the Nigerian power sector.
Despite a significant installed generation capacity – estimated to be more than 13,000 MW – access to electricity remains acutely low because much of this installed capacity is stranded and cannot be conveyed to customers because of inadequate transmission and distribution capacity.
Operators insist that tariffs remain at a level that cannot guarantee returns for investors in the sector and as a result, an estimated $20 billion capital investment required to upgrade the transmission and generation infrastructure is not available.
Insufficient investment in metering, collection and surveillance, among other factors, has also made collections by the distribution companies inefficient, thereby causing revenue loss across the value chain.
A combination of these factors has led to severe liquidity shortfalls and a ballooning deficit in the market, and there simply is not enough collections from customers to cover the cost of power generation and delivery. The Federal Government has on several occasions intervened with financial bailouts to the sector, but this solution is only short term and is becoming an increasingly heavy burden on a cash-strapped government struggling with low oil prices and a struggling national economy.
By Modupe Gbadeyanka
The planned nationwide strike action earlier fixed for Wednesday, June 7, 2023, by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) has been suspended by the unions.
The labour unions suspended the industrial action on Monday night after a meeting with the federal government at the Presidential Villa.
Nigerian workers had planned to stay away from work to protest the announcement of the removal of fuel subsidy by President Bola Tinubu during his inaugural speech last Monday.
Recall that earlier yesterday, the central government obtained an interim order from the National Industrial Court to stop the industrial action by the labour organisations on the argument that the strike could paralyse the country.
Justice O.Y. Anuwe restrained the NLC and the TUC from the action pending the determination of the motion of notice, which was fixed for a hearing on June 19, 2023.
Later in the day, the labour unions and the federal government held a meeting, and the Speaker of the House of Representatives, who has been appointed as the Chief of Staff to the President, Mr Femi Gbajabiamila, informed newsmen last night that a committee would be set up to discuss ways to resolve the issues amicably.
“The federal government, the TUC and the NLC would review World Bank Financed Cash transfer scheme and propose the inclusion of low-income earners in the programme.
“The federal government, the TUC and the NLC to revive the CNG conversion programme earlier agreed with Labour centres in 2021 and work out detailed implementation and timing.
“The labour centres and the federal government to review issues hindering effective delivery in the education sector and propose solutions for implementation.
“The labour centres and the federal government to review and establish the framework for completion of the rehabilitation of the nation’s refineries.
“The federal government to provide a framework for maintaining roads and expanding rail networks across the country.
“The joint committee will assess all other demands submitted by the TUC to the federal government,” a communique issued at the end of the meeting said.
Business Post reports that after the NLC and the TUC agreed to “suspend the notice of strike forthwith to enable further consultations,” they fixed June 19 to reconvene a meeting with the government “to agree on an implementation framework.”
By Modupe Gbadeyanka
The proposed nationwide strike to kick against the removal of fuel subsidy by the federal government may suffer a setback as the National Industrial Court (NIC) has restrained the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) from going on with the action.
In a ruling on an interim order sought by the federal government on Monday in Abuja, Justice O. Y. Anuwe ordered the unions to stop the strike pending the determination of a suit filed by the government.
The judge directed the government to serve the NLC and the TUC the interim order and the substantive suit marked NICN/ABJ/158/2023, fixing June 19, 2023, for hearing of the matter.
“The defendants/respondents are hereby restrained from embarking on the planned Industrial Action/or strike of any nature, pending the hearing and determination of the motion on notice dated 5th June 2023.
“It is ordered that the defendant/ respondents be immediately served with the originating processes in this suit, the motion on notice, and the order of this court hereby made.
“The motion on notice is hereby fixed for hearing on 19th June 2023. Hearing notices to that effect shall be served on the defendants/respondents along with the other processes,” Justice Anuwe ruled.
Business Post reports that the Federal Ministry of Justice filed an ex-parte motion to stop the planned industrial action by the labour unions, arguing that the strike was capable of disrupting economic activities, the health sector and the educational sector.
By Modupe Gbadeyanka
Stakeholders in the Nigerian textile industry are getting prepared for the second Adire Lagos Experience organised by Ecobank Nigeria Limited.
Momentum is gathering for this event slated for June 9 to 11, 2023, because the first edition, held at the ultra-modern Ecobank Pan African Centre (EPAC) complex in Victoria Island, was the talk of the town.
Participants used the occasion to network and get the latest designs in the local adire fabric.
Ecobank has assured that this year’s programme would be bigger as those expected are top government officials from Lagos, Ogun and other neighbouring states, the CEO of Adire Oodua Textile Hub and wife of Ooni of Ife, Mrs Ronke Ogunwusi; the CEO of Dye Lab, Ms Joke Ladoja; the Creative Director, Afume Global Concepts, Mrs Funmi Sosanya; and the CEO, Aga Culture & Upbeat, Moyo Ogunseinde, among others.
The event is being partnered with the National Union Textile Garment Tailoring Workers of Nigeria (Adire Sector) and will involve the exhibition of new designs of the fabric.
The Head of Consumer Banking at Ecobank, Mrs Korede Demola-Adeniyi, said the exhibition is part of the bank’s contribution to boosting the nation’s tourism, culture and creative industry using Adire as a key driver, adding that, high profile exhibitors, vendors, dignitaries from different parts of the world have indicated interest to be part of the event.
“The bank was encouraged by the success of the maiden edition last year. It is in line with our brand promise as a Pan-African Institution to promote culture and boost tourism on the continent.
“We expect topflight exhibitors, expatriates, influencers, dignitaries from all walks of life and members of the public at the three days event,” she said.
Mrs Demola-Adeniyi stated that the event would feature a series of masterclasses and exhibitions, as well as networking opportunities with entrepreneurs, shoppers and everyone interested in the making or trading of Adire, adding that the bank has provided a cosy ambience with utmost serenity to make participants feel comfortable and safe.
She added that, “Participation is free, and you are welcome to invite family and friends to come over to witness the beautiful event.
“This exhibition also presents an opportunity not only to sell and buy products but to experience the luxuriance in our culture.
“In addition to the wonderful display of Adire clothing and products, there will be masterclasses on Adire production, picture-perfect moments, and music to vibe.”
