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Governors Seek Divestment from National Integrated Power Projects

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National Integrated Power Projects

By Adedapo Adesanya 

Nigerian state governors have made their intentions known to divest from the $10 billion National Integrated Power Projects (NIPP) under the management of the Niger Delta Power Holding Company (NDPHC).

Business Post gathered that the Nigeria Governors’ Forum submitted its move to the Federal Ministry of Power in a document titled Development of the National Integrated Electricity Policy and Strategic Implementation Plan Policy Recommendations by State Governments.

The governors also said the federal government should refund an equitable rate of return on their investments in the power plants.

In the document, the sub-nationals demanded that “The investments by states in the NDPHC need to be clearly defined. States advocate for a refund by the Federal Government of the states’ full equity investments in the NIPPs plus an equitable rate of return on their investment.

“The refund of states’ investments in the NIPPs is without prejudice to the ability of the Federal Government to privatise or sell the NIPPs.”

NIPPs is a government-led initiative launched in 2004 by former President Olusegun Obasanjo to improve Nigeria’s electricity generation capacity. The NIPPs involved the construction of several gas-powered plants across the country. The goal was to address the nation’s long-standing power shortages.

NIPPs are owned by the federal, state, and Local Governments through the Niger Delta Power Holding Company. The NDPHC is a limited liability company specifically created to manage NIPP assets.

There are currently 10 operational NIPP plants across Nigeria. However, there are plans to build more. There have been discussions and plans for the privatisation of some NIPP plants.

In December 2022, the federal government under then President Muhammadu Buhari and the state governors agreed to sell five NIPP plants to raise much-needed funds and stop relying on borrowing.

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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NUPENG, PENGASSAN Resist External NNPC Appointments

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NUPENG

 By Adedapo Adesanya

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) of Nigerian National Petroleum Company (NNPC) Limited Group Executive Council (GEC) have expressed concerns over the recent filling of top management position with externally recruited personnel.

President Bola Tinubu last Tuesday sacked the entire 11-person board of the NNPC and replaced the chief executive, Mr Mele Kyari with a former Shell executive, Mr Bashir Bayo Ojulari.

Mr Ojulari previously served as Managing Director of Shell’s Nigeria deepwater exploration and production unit. He was most recently chief operating officer of Renaissance Africa Energy, the consortium that bought Shell’s Nigeria onshore division.

The new board will be led by Mr Ahmadu Musa Kida, a former Total executive.

On Friday, the NNPC announced the appointment of a new 8-man senior management team. The company said the appointments takes immediate effect.

In a letter, addressed to the NNPC Chief Human Resources Officer, NUPENG and PENGASSAN said they cannot accept or support the recruitment of senior and management staff from outside the company.

The letter, titled Filling of top management positions in NNPC Limited with externally recruited personnel is unacceptable to PENGASSAN and NUPENG GEC, was signed by GEC Secretary at PENGASSAN, Ms Amaoge Chukwudi; its chairman, Mr Solomon Orieji; and the GEC Secretary at NUPENG, Mr Paulosa Paulosa and its chairman, Mr Baba Kaumi.

The letter was also sent to the new Group Chief Executive Officer (GCEO), Executive Vice President (EVP) Business Services, of the state-oil company.

“We extend our warm congratulations to the newly appointed Group Chief Executive Officer (GCEO) and Board Members of NNPC Limited. We wish them success in their new roles and pray for excellence in their assignments.

“However, we must draw urgent attention to a matter of serious concern to avert avoidable consequences. Based on past experiences, we have observed a recurring trend whenever a new GCEO is appointed externally – the temptation to fill top management positions with external recruitment rather than promoting staff members from within NNPC Ltd.

“As a matter of caution, we must state clearly that we cannot accept, accommodate, or support the recruitment of senior and Management staff from outside NNPC Limited and that any plan in such direction be stopped immediately,” the letter reads.

It said NNPC Limited is home to thousands of experienced, competent, and dedicated Nigerian professionals across various fields.

They argued that these individuals, who include their members, have dedicated quality years to sustaining the legacies of the company and are eager to take on higher responsibilities.

“Denying them career advancement opportunities and overlooking them in favor of external recruitment is grossly unjust and wasteful, and it will also disrupt the company’s steady progress towards greater profitability and efficiency.

“We must therefore caution against any unjust action that undermines the career growth of deserving staff members of our company. If this warning is ignored, we cannot guarantee the continuation of industrial harmony within NNPC Limited.”

Therefore, they said the letter serves to put the management and the Board of NNPC Limited on notice that PENGASSAN and NUPENG categorically reject any recruitment or appointment of senior or management staff above the SS6 cadre (specifically within the SS5 to M2 cadre) from outside the organisation.

“Any attempt to do so will be met with strong resistance, including a total shutdown of operations. Please accept our assurances of continued support and regards,” the letter read.

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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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