General
IBEDC Laments Loss of N130m Monthly to Illicit Meters in Osun
By Adedapo Adesanya
The use of illicit meters in Osun State has caused the Ibadan Electricity Distribution Company (IBEDC) to lose over N130 million in revenue every month.
The IBEDC Regional Manager for Osun, Mr Oluwatoyin Akinyosoye, condemned electricity consumers in the state for this practice at a stakeholders’ town hall meeting on Wednesday in Osogbo.
Mr Akinyosoye said that the town hall meeting was organised to draw the attention of the consuming public to those who engage in the sabotage of its operations.
According to him, in Osun, there are 15,000 illicit meters causing the company an average revenue loss of N130 million.
”To us as a company, this is a huge loss in our revenue because these illicit meters consume energy on our network, but the revenue is not coming to us.
“If we can curb the use of these illicit meters, then we can take the revenue back to the company, improve on our network and embark on other metering interventions to serve our customers,” he said.
The regional manager said that the unregistered meters were not supplied to consumers by the company, explaining that IBEDC had a different intervention on metering through which customers could obtain their meters.
He said customers could get metered through the meter self-provider, whereby customers pay and get metered, and the cost of the meter would be refunded to them over a period of time.
Mr Akinyosoye also said that prospective customers could benefit from the IBEDC rollout meter intervention, whereby meters were given to customers for free.
He said that the recently concluded national mass metering programme by the federal government was another avenue customers could get meters.
“As a company, we stopped this Non-Standard Transfer System meter in 2013.
“So, each of these meters that you have to use a card before you can load and that was installed between 2013 till now are illicit meter,” the official said.
Mr Akinyosoye advised electricity consumers who have such illicit meters to visit the IBEDC to find out how they could be replaced.
“But any customer that we discover using the illicit meter would have his or her supply disconnected, charged for loss of revenue, pay for penalty and of course face prosecution,” he said.
General
Nigeria Adopts New Security Framework to Safeguard Oil Assets
By Adedapo Adesanya
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Ministry of Defence have agreed to deepen collaboration on the protection of critical oil and gas infrastructure through a new non-kinetic security framework designed to curb threats, strengthen community relations and sustain rising output.
The initiative comes as Nigeria recorded crude oil production of nearly 1.8 million barrels per day, one of the highest production levels in recent years, amid intensified efforts to combat crude oil theft, pipeline vandalism and other security challenges across the Niger Delta.
Speaking during a courtesy visit by a delegation from the Ministry of Defence to the Commission’s headquarters in Abuja, the chief executive of NUPRC, Mrs Oritsemeyiwa Eyesan, said the country’s recent production gains were directly linked to coordinated interventions involving security agencies and industry stakeholders.
“Today, we are benefiting from those efforts. Last month, we recorded production of nearly 1.8 million barrels per day throughout the month,” Mrs Eyesan said.
She noted that sustained investments in security operations, technology deployment and human capacity development had significantly improved production stability and operational efficiency in the upstream petroleum sector.
According to her, maintaining and expanding the gains has become critical as Nigeria seeks to increase crude oil output, attract fresh investments and maximise revenue generation from the petroleum industry.
“As we look to the future, we desire to grow production and must have assurances that security threats can be effectively managed. We can only achieve this through stronger collaboration with security agencies and industry stakeholders,” she stated.
Mrs Eyesan stressed that safeguarding oil and gas assets remains central to Nigeria’s energy security strategy and economic growth objectives, noting that production assurance has become a key requirement for investors considering new upstream projects.
She disclosed that the Commission was exploring wider deployment of advanced technologies, including drone surveillance systems, to improve monitoring of the country’s vast oil and gas infrastructure network and detect threats before they escalate into operational disruptions.
The NUPRC boss further revealed that the Commission would work closely with operators to refine and implement a new security framework, while providing leadership in stakeholder engagement and governance structures needed to ensure long-term sustainability.
The Minister of Defence, Mr Christopher Gwabin Musa, said the Ministry was introducing a non-kinetic security intervention model aimed at addressing the underlying causes of insecurity in oil-producing communities.
Rather than relying solely on military operations, he explained that the strategy would focus on community engagement, youth empowerment and social inclusion programmes to build lasting peace around critical energy infrastructure.
“One of the best ways to engage youths in oil-producing areas is through sports-based interventions,” Mr Musa stated.
He explained that the initiative would utilise sports development programmes to channel youthful energy into productive activities, reduce vulnerability to criminal networks and strengthen community ownership of critical national assets.
The Defence Minister, who was represented by one of his aides, added that the intervention would also include structured programmes for persons living with disabilities, creating broader opportunities for participation and economic inclusion in host communities.
According to him, the initiative aligns with the Host Community Development provisions of the Petroleum Industry Act (PIA) and is expected to strengthen relationships between operators and host communities while promoting sustainable development.
General
PTML Unveils $50m Expansion Plan for Tin Can Island Port
By Adedapo Adesanya
Port and Terminal Multiservices Limited (PTML) has disclosed the investment of $50 million to expand its terminal at Tin Can Island Port, Lagos, as part of efforts to strengthen Nigeria’s bid to become the leading maritime hub in West and Central Africa.
PTML Managing Director, Mr Ascanio Russo, made the disclosure on Wednesday during a visit to the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, in Abuja.
The investment by PTML, a member of the Grimaldi Group, will expand berthing capacity and acquire additional modern port equipment.
“The Grimaldi Group remains deeply committed to Nigeria and believes in the country’s potential as the leading maritime and logistics gateway in West and Central Africa,” Mr Russo said.
“This $50 million investment is designed to expand our berthing capacity and deploy modern equipment that will enhance operational efficiency, cargo handling, and service delivery.”
He said the upgraded berths would enable PTML to receive next-generation Container/Roll-on Roll-off, Con-Ro, vessels, including the largest Con-Ro ships currently operating globally, directly at the Lagos terminal.
“The maritime industry is evolving rapidly, with larger vessels becoming the standard for international trade. Through this expansion, PTML will be fully equipped to accommodate these next-generation Con-Ro vessels and keep Nigeria competitive for global shipping lines,” Mr Russo stated.
He added that the project responds directly to the Federal Government’s call for increased private-sector participation in port modernisation.
Mr Russo said the expansion would facilitate trade, increase cargo throughput, create jobs during construction and operations, and boost government revenue through higher port activity.
On his part, Mr Oyetola welcomed the investment as a vote of confidence in the Federal Government’s maritime reforms.
“This investment shows our reforms are yielding results and that international investors recognise the opportunities in Nigeria’s maritime sector,” the minister said. “We are determined to transform our ports into modern, efficient, and globally competitive gateways that support economic growth and position Nigeria as the maritime hub of West and Central Africa.”
Mr Oyetola said the government was implementing measures to improve port efficiency, reduce bottlenecks, upgrade infrastructure, and strengthen the ease of doing business.
He said these include port modernisation, deeper collaboration with private operators, digitalisation of port processes, and policies to attract more maritime trade.
General
Lagos Police Investigates Ammunition Package Delivery to First Bank MD
By Adedapo Adesanya
The Lagos State Police Command is investigating the delivery of a parcel containing live ammunition delivered to the managing director of First Bank Nigeria, Mr Oluwasegun Alebiosu.
The Commissioner of Police, Lagos State command, Mr Tijani Fatai, confirmed the incident on Tuesday during a press briefing at the command headquarters.
He said Mr Alebiosu reported the case on May 7, noting that two rounds of 7.62mm live ammunition were sent to him through a parcel.
“The managing director reported the matter to the police after a package containing two rounds of 7.62mm live ammunition was delivered on his behalf by his security guard at his residence. The case is still under investigation, and we are treating it with the seriousness it deserves,” he said.
According to him, the parcel was first received by the bank chief’s security guard, who then handed it over to him.
The police commissioner said that operatives have launched an investigation, including forensic analysis and intelligence work, to identify the perpetrators and the circumstances of the incident.
He added that no suspect linked to the crime has been brought into custody.
“Presently, no suspect is in custody. Even though the MD has mentioned some people whom he suspected of being the brains behind it, that is his suspicion, anyway. We are still working on it,” he said.
Mr Fatai noted that detectives are reviewing information provided by the complainant, including details of individuals who may have relevant knowledge of the incident.
He assured the public that the command would keep them informed as the investigations go on, adding that the public should allow the police to carry out their duties.
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