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NERC Increases Price of Prepaid Meter to N143,836

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By Modupe Gbadeyanka

The price of the three-phase prepaid meter has been increased by the Nigerian Electricity Regulatory Commission (NERC) to N143,836.10 from N109,684.36.

This development was confirmed by the agency in a circular marked NERC/2024/040 on Monday.

NERC, which regulates the electricity sector in the country, also increased the price of a single-phase prepaid meter to N81,975.16 from N58,661.69.

This is coming less than a month after the organisation raised the electricity tariff of Band A customers to N225 per kilowatt hour.

In the notice titled The  deregulation of meter prices for meters deployed under the Meter Asset Provider Scheme, it was disclosed that the latest increase in the prices of the meters was influenced by high inflation and exchange rate.

It was also stated that the action was necessitated due to the need for the efficient pricing of meters to respond more quickly to changes in macroeconomic parameters, particularly exchange rates.

“The commission has further taken cognisance of the constraints/challenges faced by Meter Asset Providers (MAPs) and Local Meter Manufacturers Associations (LMMAs) and therefore approved the deregulation of prices of meters deployed under the MAP scheme with effect from 1 May 2024,” a part of the statement signed by NERC Chairman, Mr Sanusi Garba, and the Commissioner for Legal and Licensing Compliance, Mr Dafe Akpeneye, said.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Chieftaincy Title Conferment Tears Alaafin, Ooni Apart

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By Adedapo Adesanya

There is increasing friction between two paramount traditional rulers of Yorubaland and if not quickly handled with care, it could degenerate into something unimaginable.

On Monday, the Alaafin of Oyo, Oba Abimbola Owoade, ordered the Ooni of Ife, Oba Enitan Ogunwusi, to, within 48 hours, revoke a chieftaincy title conferred on a businessman, Mr Dotun Sanusi.

But the Ooni, in a post by his media aide, Mr Moses Olafare, on Facebook, said he would not dignify the Alaafin with a response.

“My principal has directed me against issuing a press release on the empty threat of the Alawada Babasala. I beg to disappoint you, gentlemen of the press. We can not dignify the undignifyable with an official response. We leave the matter to be handled in the public court of opinion, as it is already being treated,” Mr Olafare wrote on Tuesday.

“Let’s rather focus on narratives that unite us rather than the ones capable of dividing us,” he added.

Oba Owoade had said the decision of Ooni to name the Ibadan-based businessman as the Okanlomo of Yorubaland was an affront to his authority.

“The conferment of chieftaincy title, which bothers on Yorubaland by the Ooni of Ife, is not only an affront to the referred institution of the Alaafin, who is the Titan of Yorubaland and on who holds the exclusive right to confer any chieftaincy title which covers the entire Yorubaland on anyone,” the monarch’s Director of Media and Publicity, Mr Bode Durojaiye, wrote in a statement.

“The Ooni of Ife is behaving as if there is no authority to check and call him to order, and because of that ‘above the law’ syndrome of his. He is in the habit of walking on everybody’s back, including the apex court in the country, the Supreme Court, which had ruled on the exclusive preserve of the Alaafin to confer chieftaincy title that covers the entire Yorubaland on anyone.”

Mr Durojaiye said that the Ooni’s traditional authority is limited to the Oranmiyan Local Government Area, which has now been split into three local governments, viz: Ife Central, Ife North, and Ife South in Ondo State.

“The dictum that nobody is above the law of the land is now being put to a crucial test and the reality of our time makes it very obligatory for the Alaafin to call the Ooni of Ife to order and demand REVOCATION of the so- called OKANLOMO of Yorubaland chieftaincy title conferred on Engineer Dotun Sanusi WITHIN 48 HOURS or face the consequences,” he said.

“The dictum that nobody is above the law of the land is now being put to a crucial test and the reality of our time makes it very obligatory for the Alaafin to call the Ooni of Ife to order and demand REVOCATION of the so-called OKANLOMO of Yorubaland chieftaincy title conferred on Engineer Dotun Sanusi WITHIN 48 HOURS or face the consequences,” the statement read in part.

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Agbaje to Construct Seven Roads to Boost Commerce in Ayobo-Ipaja LCDA

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By Dipo Olowookere

The chairman of Ayobo-Ipaja Local Council Development Area (LCDA), Mr Lukmon Agbaje, has flagged off the construction of seven roads stretching 1.783 kilometres for the economic development of the area.

At a ceremony held at the council secretariat at Ipaja on Monday, the council chief said the “seven strategic roads” would boost the quality of life of residents, charging them to monitor the contractors and take ownership of the roads.

According to him, the seven-road infrastructure project will significantly improve mobility, enhance security, and boost commercial activities within the council area.

He listed the roads as Owonikoko Street (430 metres), Victor Street in Ipaja (88 metres), Igbogila Street in Ipaja (160 metres), Akinola Market Road in Ipaja (400 metres), Aduloju Street at Baruwa (198 metres), Koloba/Unity Road at Bada Ayobo (400 metres), and Baale Road in Ayobo (107 metres).

He explained that these roads were carefully selected based on community needs, traffic flow, and their potential to stimulate economic growth across Ayobo-Ipaja LCDA, noting that they will be constructed with proper drainage systems and durable surfacing to ensure sustainability.

“Roads are the lifelines of any community. They provide mobility, enhance access to businesses and markets, improve security, promote socio-economic growth, and make life easier for our people. This is why infrastructure remains one of our top priorities,” Mr Agbaje stated.

The chairman also emphasised the importance of community involvement in ensuring the success of the projects, appealing to residents to support the contractors, cooperate with temporary diversions during construction, and adopt a culture of road maintenance to preserve the infrastructure for future generations.

He expressed optimism that the projects would be completed before his first 100 days in office, stating, “We have promised, and we are making it happen. With your continuous support and collaboration, we will deliver even beyond expectations.”

Mr Agbaje assured residents that this was only the beginning of many laudable initiatives that would be unveiled to transform Ayobo-Ipaja LCDA, thanking all stakeholders for their unwavering support and partnership in the developmental strides of the council.

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FG Reaffirms Roadmap Implementation to Drive Critical Minerals Value Chain

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By Adedapo Adesanya

The federal government has reaffirmed its commitment to the implementation of the roadmap for the development of the energy transitions and critical minerals value chain in Nigeria.

The Minister of Solid Minerals Development, Mr Dele Alake, revealed this while declaring open a two-day Stakeholders Workshop on the implementation of the roadmap for the development of energy transition and critical minerals value chain in Nigeria.

At the event in Abuja, the Minister, who was represented by the Permanent Secretary in the Ministry of Solid Minerals, Mr  Faruk Yusuf Yabo, said the gathering was not just any other technical meeting, but “a strategic milestone in our journey to harnessing the immense potential of our mineral resources at a sustainable level, driving industrialization, and positioning Nigeria as a key player in the global energy position.”

He stressed that the context of the workshop could not be more urgent: “As we go around the world, the demand for this alongside rare earth elements and other critical inputs for energy transition. Technology is moving at an unprecedented pace. These are the backbones for solar panels, wind turbines, electric vehicles, and their storage systems and, of course, other local technologies.

“And we all noticed that nations can develop competitive, strategic, sustainable, and well governing all value chains that stand out to be able to be leading in the emerging clean energy economy. Nigeria is blessed with abundant deposits of these minerals, and our mining sector remains underexposed and largely underdeveloped.”

“The roadmap we are incorporating today is aimed to change this by attracting investment and, of course, the critical and energy transition mineral value chain from exploration to utilisation; Building energy infrastructure and human capital; Strengthening governance, security, environmental compliance, and stewardship; Supporting artisanal and small-scale miners while promoting industrial scale operations; Ensuring that mining benefits flow equitably to our communities and contribute to a broader environment across federal, state, and local governments.

“This workshop is therefore unique because we are adopting a collaborative approach to policy making. In other words, we are today incorporating this particular roadmap. By doing that, we bring together governments, industries, communities, academia, and, of course, our development partners towards shaping the shared vision,” he added.

Mr Alake further noted that the roadmap will complement the Ministry’s seven-point agenda as well as which goes as far as aligning its continental framework such as the African rare mineral strategy and African mining vision thereby ensuring that Nigeria’s voice is strong at regional and global Forums.

He urged all participants of the workshop to be open-minded, forward-looking, and practical in their contributions during discussions. “Let us identify not just challenges but concrete actionable steps that will enable Nigeria to be competitive around these incorporated value chains towards job creation, industrial linkages, attracting investment, and supporting our commitment to the low-carbon future.

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