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FG Suspends Implementation of Electricity Tariff Hike

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Electricity Tariff Hike

By Adedapo Adesanya

The federal government has suspended the implementation of the minor upward review of the electricity charges from N2 per kWh to N4 per kWh by the National Electricity Regulatory Commission (NERC).

This was disclosed by the Minister of Power, Mr Sule Mamman, via his Twitter handle on Thursday. He noted that this should be halted pending the conclusion of the Joint Ad Hoc Committee’s work at the end of January 2021.

According to him, the development will give room for the outcome of all resolutions from the committee to be implemented together.

He tweeted, “To promote a constructive conclusion of the dialogue with the Labour Centers (through the Joint Ad-Hoc Committee), I have directed NERC to forestall the implementation of the duly performed minor review (which adjusted tariffs between N2 per kWh and N4 per kWh) until the conclusion of the Joint Ad Hoc Committee’s work at the end of January 2021

“Contrary to the allegation that tariff has been increased by 50 per cent, @NigeriaGov continues to fully subsidise 55 per cent of on-grid consumers in bands D and E and maintain the lifeline tariff for the poor and underprivileged.

“Those citizens have experienced no changes to tariff rates from what they have paid historically (aside from the recent minor inflation and forex adjustment).

“Partial subsidies were also applied for bands A, B and C in October 2020. These measures are all aimed at cushioning the effects of the pandemic while providing more targeted interventions for citizens.

“The public is aware that FGN and the Labour Centers have been engaged in positive discussions about the electricity sector through a joint ad-hoc committee led by the Minister of State for Labour and Productivity and Co-Chaired by the Minister of State for Power. Great progress has been made in these deliberations which are set to be concluded at the end of January 2021.”

On Tuesday, in compliance with the provisions of the Electric Power Sector Reform Act (EPRSA) and the nation’s tariff methodology for biannual minor review, the NERC had adjusted the rates for service bands A, B, C, D and E by NGN2.00 to NGN4.00 per kWhr to reflect the partial impact of inflation and movement in foreign exchange rates.

This action did not go down well with many electricity consumers in the country, who described the government as insensitive. They argued that the increment was coming at a wrong time, especially when Nigerians were still battling the effect of COVID-19 and a similar increase about two months ago.

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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Former Oyo Governor Omololu Olunloyo Dies at 89

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Omololu Olunloyo

By Modupe Gbadeyanka

A former governor of Oyo State, Mr Victor Omololu Olunloyo, has died some days to his 90th birthday, precisely April 14, 2025.

He was said to have breathed his last in the early hours of Sunday after battling with old age-related ailments for the last few weeks.

In a statement signed on behalf of the family by Mr Oladapo Ogunwusi, it was stated that the deceased was a source of pride to his family and associates and serve the nation and humanity.

“With a heavy heart but gratitude to the Almighty, we announce the passing into glory of Dr Victor Omololu Olunloyo, former governor of Oyo State, mathematician and engineer and renowned technocrat, a few days before his 90th birthday.

“The Balogun of Oyo and Otun Bobasewa of Ife, Dr Olunloyo was first Rector, Ibadan polytechnic and first Rector, Kwara State Polytechnic among other notable appointments.

“His long record of service to the nation and humanity is a source of pride to his family and associates even as we come to grip with this devastating event.

“The Olunloyo family will appreciate the understanding of the press and the public as they commence efforts to give him a befitting burial.

“Even from everlasting to everlasting, He is God,” the statement read.

Business Post reports that Mr Olunloyo was the Governor of old Oyo State between October and December 1983.

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Court Convicts Igboezue Emeka for Non-declaration of $40,000

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Igboezue Emeka Convict

By Modupe Gbadeyanka

One Mr Igboezue Emeka has been convicted ​and sentenced to one month imprisonment for money laundering by Justice A.O. Owoeye of the Federal High Court in Ikoyi, Lagos.

He was asked to spend one month in jail from the day of his arrest, Wednesday, February 12, 2025, in a judgment delivered on Friday, April 4, 2025.

He was brought before Justice Owoeye by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) for a false currency declaration to the tune of $40,000.

It was gathered that the convict was arrested on February 12 at the Murtala Muhammed International Airport, Ikeja, Lagos, by operatives of the Nigeria Customs Service (NCS) for non-declaration of $40,000.

The NCS had, on the same day, handed him over to the anti-money laundering agency for further investigations and prosecution.

Consequently, he was arraigned on Friday on a one-count charge bordering on money laundering, which he pleaded guilty to when it was read to him.

“That you, Igboezue Emeka, on or about the 12th day of February, 2025, at Murtala Muhammed International Airport, Lagos, within the Lagos Judicial Division of the Federal High Court of Nigeria, failed to make a declaration of the sum of $40,000 to the Nigerian Customs Service and thereby committed an offence contrary to the provisions of Section 3(3) of the Money Laundering Act, No. 14 of 2022 and punishable under Section 3 (5) of the same Act,” the charge read.

After pleading guilty to the solitary charge, the prosecution counsel, Nnaemeka Omewa, called on an operative of the EFCC, Mr Michael Olayemi, to review the facts of the case.

Mr Olayemi, while narrating to the court about the events that led to the investigation of the defendant, said, “At 1.20 pm on February 12, 2025, we got an intelligence report from the Nigerian Customs Service that it intercepted the defendant with the monetary exhibit of the sum of $40,000.

“Upon this, I detailed that one of my team leads, Lanre Michael, who I supervise, would go and pick the individual and the exhibit from the Nigeria Customs at Murtala Mohammed Airport.”

Continuing, he said: “At about 4 pm, he reported with the defendant, the monetary exhibit and the defendant’s international passport. The defendant was in possession of two phones, which he used to call his lawyer and relatives.

“In the presence of his relatives, he volunteered his statement under words of caution, where he admitted that he was travelling via Qatar Air to Seoul, the capital of South Korea.

“He also stated that he was accosted by Customs Officers, where he was asked if he had any currency on him to declare, to which he said No.

Mr Olaremi further told the court that, “The statement warranted me to invite the personnel of the Nigeria Customs Service, Ogar Sadin John.

“John, in his statement, said that when he accosted Igboezue, he claimed that he had no money. He, however, said he was sceptical.

“Upon searching him, he found the money hidden in one of his shoes in his hand luggage,” adding that the monetary exhibit was registered with the exhibit keeper, while the suspect was served with an administrative bail.

Omewa, thereafter, sought to tender the defendant’s statement and the monetary exhibit recovered from him.

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Ojulari Vows to Consolidate on Mele Kyari’s Legacy

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Bayo Ojulari Mele Kyari NNPC

By Modupe Gbadeyanka

The new chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bayo Ojulari, has promised to consolidate on the legacy and achievements of his predecessor, Mr Mele Kyari.

He made this pledge while taking over from Mr Kyari on Friday at the organisation’s headquarters in Abuja, the country’s seat of power.

President Bola Tinubu on Tuesday dissolved the board of the NNPC and appointed new members to pilot affairs of the oil company.

In a statement today by the Chief Corporate Communications Officer of the NNPC, Mr Olufemi Soneye, it was disclosed that the new CEO praised Mr Kyari for his contributions to the growth of NNPC Ltd and his sterling service to the nation, noting that the objective of his management is to consolidate on the successes of his predecessor and take the company to the next level.

He said though the targets set for his management were quite enormous, he would be relying on the co-operation of the Management and staff of the company, as well as the counsel of his predecessor to achieve set targets.

“I will be counting on your support. I will need it. I will be coming around to seek your counsel,” Mr Ojulari told Mr Kyari.

Earlier in his remarks, the erstwhile NNPC chief congratulated his successor and thanked the management and staff of the company for their support while in office, vowing to do everything within his power to support the new team to succeed, stressing he is only a call away.

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