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Electricity Subsidy Gulps N633.3bn in Three Months

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Electricity Subsidy Q1 2024

By Adedapo Adesanya

In January, February, and March 2024, the Nigerian government spent over N633.30 billion to subsidise electricity for consumers, which was higher than the N252.76 billion used in the last quarter of 2023 by 150.5 per cent.

This information was revealed by the Nigerian Electricity Regulatory Commission (NERC) in its quarterly report, which noted that the amount was 0.7 per cent higher than N628.61 billion paid from January to December 2023.

Providing further context, NERC data showed that in 2023 subsidy gulped N36.02 billion in the first quarter, N135.23 billion in the second quarter, N204.6 billion in the third quarter and N252.76 billion in the fourth quarter of 2023.

The electricity market regulator blamed the increase on the government’s policy to harmonise exchange rates, as well as the absence of cost-reflective tariffs across all electricity distribution companies.

“It is important to note that due to the absence of cost-reflective tariffs across all DisCos, the Government incurred a subsidy obligation of N633.30 billion in 2024/Q1, an average of N211.10 billion per month,” it stated.

On revenue collection, the report said the DisCos recorded a shortfall, as the total revenue in the period was N291.62bn out of N368.65 billion billed to customers.

Also, the total energy received by all DisCos was 7,171.93GWh while the energy billed to end-use customers was 5,769.52GWh, translating into an overall billing efficiency of 80.45 per cent.

Ikeja DisCo collected the highest revenue among Nigeria’s 11 electricity distribution companies as it received 57.88 billion in the period followed by Eko DisCo at N48.74 billion.

Also, of the total revenue collected in the period, Abuja DisCo collected N48.60 billion, Ibadan DisCo collected N30.35 billion, Benin DisCo collected N22.46 billion, Enugu DisCo collected N21.24 billion, Port Harcourt DisCo collected N20.39 billion.

Others include: Kano DisCo at N13.62 billion, Jos DisCo collected N13.29 billion, Kaduna DisCo collected N9.60 billion while Yola DisCo collected the least revenue at N5.46 billion.

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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e-Governance Bill Will Promote Accountability, Transparency—Oyo Stakeholders

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national digital economy and e-governance bill

By Aduragbemi Omiyale

Some stakeholders in Oyo State, including the state government, have called for a speedy passage of the National Digital Economy and e-Governance Bill, submitting that it would ensure accountability and transparency in governance.

At a stakeholder engagement meeting on the National Digital Economy and eGovernance Bill in Ibadan on Tuesday, participants agreed that the e-governance bill would smoothen government activities and boost government-citizen engagement.

The Minister of Communications, Innovation and Digital Economy, Mr Olatunbosun Tijani, appealed to Nigerians to give the bill the needed support for passage.

Mr Tinubu, speaking at the event through Banke Ajagunna, noted that the importance of the bill cannot be underestimated as it will enhance the digital economy and build trust between the government and the people.

According to him, the consultative engagement is going on in all the states of the federation to seek the input of stakeholders on the bill, and submitting it is a significant step forward in Nigeria’s digital transformation journey.

This bill, according to him, aims to drive economic growth through digital technology, improve public service delivery, and create a competitive environment for the Nigerian digital economy.

He noted that in a bid to migrate Nigeria into a smart country, the federal government through his ministry proposed the National Digital Economy and e-Governance Bill.

The Minister said the bill offers numerous opportunities for businesses to innovate and expand, with improved digital infrastructure and a supportive regulatory environment. Individuals will also benefit from improved access to digital services and better governance through e-governance initiatives.

He highlighted the advantages of the E-governance bill to include Economic Transformation and Establishment of a regulatory foundation to encourage digital commerce, cross-border trade, and innovation, positioning Nigeria as a major player in Africa’s digital landscape.

“It will facilitate the digital transformation of government services to make them more transparent, accessible, and responsive to citizens,” Mr Tijani stated.

He also said the bill will ensure Digital Access for All, saying, “it will promote infrastructure and digital literacy programs to make digital services accessible across Nigeria, including underserved regions.”

Speaking earlier, the Senior Special Assistant on ICT and E-Governance to the Governor, Mr Bayo Akande hailed the federal government’s National Digital Economy and E-Governance Bill.

Mr Akande, who observed that the nation is overdue for a digital economy, which is the order of the day, added that this bill will drive economic growth through digital technology.

“Despite advances in technology, Nigeria’s digital economy faces critical challenges, Nigeria lags behind countries with robust e-governance frameworks that empower citizens and protect consumer data. Without intervention, Nigeria risks losing economic opportunities in an increasingly digital world,” he stated.

“Though Oyo has already started to introduce digital methods in the governance space of the state, as the state recently deployed Business Process Automation, in a bid to make Oyo state government services go paperless, the bill is a step in the right direction,” the aide to Governor Seyi Makinde of Oyo State noted.

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Labour Party Disassociates Self From Interim Executive Committee

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labour party Ogun State

By Modupe Gbadeyanka

The national leadership of the Labour Party (LP) has affirmed Mr Lookman Abiodun Jagun as the leader of the party in Ogun State.

Mr Jagun was appointed as the leader of the Caretaker Committee for Ogun State chapter of the opposition party by its highest organ, the National Executive Committee (NEC).

In a statement issued by the National Publicity Secretary of Labour Party, Obiora Ifoh, it was emphasised that any other group parading itself as the leadership organ of the party in Ogun State was not recognised by the national leadership.

There has been a group known as the Interim Executive Committee (IEC) of the Labour Party claiming to be in charge of the party in the state.

But Labour Party stated that this group is not known to it as “the Interim Executive Committee is an aberration and it is unknown to both the constitution of the Labour Party and the national leadership of the party.”

The Labour Party has a structure and a valid constitution that governs its operations and all members are expected to abide by the party’s constitution.

“The party does not permit or encourages members to arrogate powers and functions to themselves, without recourse to the constitution or the national leadership.

“Faithful party men and women in Ogun state are advised to be wary of the antics and activities of the self-styled IEC, as they do not enjoy the support or validation of the National Leadership of the Labour Party.

“We also urge every member and intending members to subject themselves to the ongoing e-membership registration and revalidation exercise to be able to participate in the activities of the party, including the congresses that will commence in February 2025 across the nation,” the statement said.

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Tinubu to Visit France Wednesday to Strengthen Bilateral Relationships

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Bola Tinubu 2027 presidential election

By Adedapo Adesanya

President Bola Tinubu will embark on a state visit to France on Wednesday and stay in the European country for the next three days in honour of an invitation from President Emmanuel Macron.

The presidency disclosed this in a statement on Tuesday signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.

The statement said  President Tinubu will “be received on Thursday at the 350-year-old French military museum, Les Invalides and Palais de l’Élysée, by Mr Macron and his spouse, Brigitte, for initial ceremonies that will dovetail into bilateral meetings.”

“The Nigerian leader’s three-day visit, which will focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria,” the statement said.

“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication. They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.

“Brigitte and Nigeria’s First Lady will discuss the latter’s passion for empowering women, children, and the most vulnerable through the Renewed Hope Initiative,” it added.

The President will travel for the visit with his wife, Mrs Oluremi Tinubu, and other senior government officials. They will be hosted at a state dinner by the French leader before their departure.

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