General
Oyo LG Poll: Ajimobi, Alaafin Explore Out-Of-Court Settlement
By Dipo Olowookere
The Alaafin of Oyo, Mr Lamidi Adeyemi, on Tuesday, visited the Governor of Oyo State, Mr Abiola Ajimobi, to explore the alternative dispute resolution mechanism in settling the dispute arising from the creation of 35 Local Council Development Areas in the state.
The foremost monarch dropped the hint in an interview with journalists shortly after emerging from a closed door meeting with the Governor at the Governor House in Ibadan.
He said that the suit filed by some aggrieved traditional chiefs challenging the alleged ceding of parts of their domain to Ogbomoso under the newly created LCDA would be resolved amicably very soon in order not to subject the people to hardship.
One Mr Oladokun Abiola and 14 others from Oyo East Local Government had challenged the creation of the new LCDAs before an Abuja FHC court on the premise that it would ostracize them from their ancestral land, while the Alaafin was joined as a respondent in the matter.
It is believed that the Alaafin wields enormous influence over the plaintiffs, who are chiefs and indigenes under the vast Oyo empire.
It will be recalled that Justice John Tsoho of an Abuja Federal High Court had on January 20 granted an interim injunction stopping the Local Government election scheduled for February 11 in the original 33 Local Government and the newly created 35 LCDAs in the state
The judge had further ordered that allocations to the original LGs from the Federation Account be suspended until the substantive suit was determined, while the matter was adjourned to February 7 for the commencement of the suit.
However, Mr Adeyemi said that the stakeholders would spare no efforts to settle the matter out of court, so as not to cause hardship to the people at the grassroots, given the extensive impact of the court order on the finances of the LGs and their dwellers.
The monarch said, “What I have come for this afternoon (Tuesday) is to try and trash out the issues as a way of finding amicable resolution. Whatever problems that arise before or even after a war, you come back to the negotiation table to settle it.
“So, instead of going to war that would be costly to both sides, that would be injurious to the populace and the people of the state, I have come to see the governor to find a way around it.
“My position on the issue is that as much as we must be careful not to undermine the legal restraint that is associated with discussing an issue that is before a law court, just take it from me, in my honest view and with all sincerity that this issue will be resolved very soon.”
The royal father described the Governor as a listening and responsive leader who could not be unsettled by such legal move, stating that it was important to understand the root cause of the legal tussle.
On whether he would prevail on the Baales, who secured the interim order, to withdraw the case from court, Mr Adeyemi said he believed that deep understanding and reason would prevail in the end.
He reiterated his commitment towards settling the issue out of court in the earliest possible time in order to expose the people at the local communities to untoward hardship on account of the stoppage of allocation to the LGs.
Mr Adeyemi said, “We are not going to coarse anybody, but I can assure you that reason and understanding will prevail. Don’t let me let the cat out of the bag now, but soon, peace will prevail.”
By Dipo Olowookere
A $15 million debt facility has been obtained by Watt Renewable Corporation from the AfriGreen Debt Impact Fund to finance hybrid solar power plants to be built and operated by the former, especially in Nigeria.
WATT intends to use the projects to serve commercial and industrial clients in Nigeria, particularly in the telecommunication and financial services sectors.
By integrating solar hybrid solutions, the firm aims to significantly reduce diesel consumption and CO2 emissions, enabling its clients to achieve substantial energy cost savings while promoting environmental sustainability.
As a pioneer in renewable energy solutions, WATT continues to drive innovation in Nigeria’s energy sector.
The company’s robust roll-out plan includes deploying hundreds of hybrid solar power sites nationwide to meet the growing energy demands of commercial & industrial clients.
This strategic expansion aligns with WATT’s vision to revolutionize energy access across Africa, enabling sustainable development and reducing reliance on fossil fuels.
The funds from AfriGreen provide the critical capital needed to accelerate WATT’s ambitious projects, strengthening its market position and empowering businesses with reliable and affordable energy solutions.
Business Post gathered that to mitigate the currency risk for WATT in the event of devaluation of the Nigerian Naira, AfriGreen is offering a local currency facility that matches the payment structure of the power purchase agreements.
“We are thrilled to partner with AFRIGREEN on this transformative journey to expand reliable and sustainable energy solutions across Africa.
“With this support, it enables us to accelerate our shared mission of providing hybrid solar power to businesses, reducing carbon emissions, and supporting economic growth while enhancing energy security for our clients,” the Managing Director of WATT, Mr Oluwole Eweje, said.
“We are delighted to support WATT in rolling out hundreds of hybrid sites across the country.
“This represents another key transaction for AFRIGREEN in Nigeria. The combination of high energy prices, good solar irradiation, and strong demand from industrial and commercial energy users makes this market particularly attractive for companies like WATT.
“By leveraging these favourable market conditions alongside WATT’s exceptional operational performance and a well-structured financing solution, we are setting the stage for a strong and lasting business partnership,” the Managing Director of AfriGreen, Mr Alexandre Gilles, stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has denied issuing a directive that gas supply to power generating companies (GenCos) be halted.
In a statement on Wednesday, the authority also denied instructing wholesale gas suppliers to stop further supply of gas to companies due to failure in payment obligations.
The NMDPRA described reports stating that it has directed the stoppage of gas supply to GenCos over N2 trillion debt as “false and completely unfounded”.
“It has absolutely no bearing on the information shared at a recent stakeholders’ engagement held in Lagos between the Authority, the OPTS, IPPG and other stakeholders in the oil and gas industry,” the NMDPRA said.
“The purpose of the engagement was to sensitise stakeholders on the requirements, opportunities and benefits associated with the implementation of the wholesale supply license as provided by sections 142 and 197 of the Petroleum Industry Act (PIA) 2021.
“It was a follow-up to an earlier stakeholder engagement held at the NMDPRA corporate headquarters in Abuja on November 27, 2024.
“The Authority wishes to reassure all our stakeholders and indeed the general public that at no time was the false statement made at that event and anywhere else, and are advised to completely disregard the publication as every effort is being made to ensure that the supply and distribution of natural gas and petroleum products to end users is seamless and unabated as we head into the festive season and indeed all through the coming year 2025.”
Recall that Nigeria’s national grid experienced another collapse on Wednesday, the 11th time in 2024 as Gencos couldn’t generate enough power, compounding issues facing the Nigerian power sector.
This was the first time in over a month as the last time the nation witnessed a nationwide shutdown in electricity supply was on November 7, 2024.
Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.
By Aduragbemi Omiyale
Nigeria is currently experience a cut in power supply after the national grid collapsed for the 11th time in 2024.
This is the first time in over a month as the last time the nation witnessed a nationwide shut down in electricity supply was on November 7, 2024.
Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.
However, just when Nigerians were thinking they will not witnessed another national grid collapse in the year, it issue reared its ugly head again.
On Wednesday afternoon, most of the energy distribution companies suffered power outage, prompting them to inform their customers of the situation.
One of the DisCos, Ikeja Electric Plc, in a message to electricity consumers under its franchise area, said, “Please be informed that we experienced a system outage today, December 11, 2024, at about 13:32 hours affecting supply within our network.
“Restoration of supply is ongoing in collaboration with our critical stakeholders. Kindly bear with us.”
Recall that on Tuesday, in a report, Google listed national grid as one of the top trending searches by Nigerians this year.
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