General
PwC Proposes Key Amendments to Nigeria Electricity Act 2023
By Adedapo Adesanya
PricewaterhouseCooper (PwC) Nigeria has commended the country’s move towards fixing its copious electricity challenges with the Electricity Act 2023 and proposed key amendments that will ensure the issues are faced head-on,
At the 14th edition of its Annual Power and Utilities Roundtable, with the theme The Electricity Act 2023: Powering Nigeria, the Partner and Energy, Utilities and Resources Leader at PwC Nigeria, Mr Pedro Omontuemhen, noted that, “The 2023 power roundtable’s timing coincides with the ongoing COP 28 in Dubai, highlighting the urgent need for continued action on climate change especially in the area of renewable energy.”
“The Electricity Act can play a pivotal role in addressing this challenge by guiding balancing the utilisation of our natural resources with the reduction of carbon emissions while showing how we can generate, transmit, and distribute adequate power to meet Nigeria’s energy needs,” he added.
He noted that “discussions at the roundtable have shown that power sector stakeholders welcome the Electricity Act as a good step, especially for consolidating the laws governing the Nigerian electricity supply industry and establishing a policy framework that empowers state governments and investors.
However, he stressed that there was more to be done to enhance the legislation and make it more responsive to the realities of industry practitioners, adding that the Act must provide the policy framework necessary to implement practical solutions to address the metering gap.
In his keynote address, Mr Bimbola Banjo, Partner and Finance Advisory Leader, PwC Nigeria, elaborated on the key provisions of the Act, including the separation of distribution from supply operations, incentivising renewable energy, the positioning of NERC as the apex regulator, the establishment of the Power Consumer Assistance Fund (PCAF), state government’s adoption of the Electricity Act, the establishment of N-HYPPADEC, and the definition of offences and penalties.
“While there is an urgency to adopt the Electricity Act, states must exercise caution and assess their readiness for implementation. The process of adoption will incur significant costs, including engaging legal and commercial advisors, and will require substantial investments in technology, human resources, and the establishment of state-level structures.
“Before proceeding, states should conduct a comprehensive evaluation of their electricity market and network infrastructure, accompanied by detailed technical and commercial feasibility studies. This rigorous assessment will ensure that states are adequately prepared to implement the Electricity Act effectively and reap its full benefits,” he added.
The Electricity Act fosters collaboration among various stakeholders, including state governments and federal government ministries. These partnerships and active state participation will lead to positive outcomes, such as the establishment of suitable investment vehicles, effective fundraising strategies, robust enforcement mechanisms, and enhanced knowledge exchange.
The roundtable’s panel of experienced power sector stakeholders discussed additional measures that will enhance the Electricity Act towards achieving its objectives.
For Mr Akinyemi Akingbade, Partner, Energy, Utilities and Resources, PwC Nigeria, who moderated the panel session, there’s a need to consider the role the Electricity Act can play in stimulating local manufacturing of electricity assets, such as meters, and fostering domestic investments within Nigeria’s power value chain, which will help job creation and economic growth.
Mr Razaq Obe noted that the Electricity Act has already started fostering collaborations in the sector. For example, there’s a forum of state commissioners for energy, which is a first in Nigeria’s history. He indicated the willingness of state governments to continue to collaborate to enhance the implementation of the Electricity Act.
Addressing the misconception surrounding reluctance to provide meters, Mrs Soetan emphasised that DisCos, despite facing cost challenges, believe in the benefits of metering for improved revenue collection.
She stressed that DisCos are actively seeking collaborations with various stakeholders to increase meter deployment for their customers. The collaboration between DisCOs and state governments to deter energy theft will be key to achieving the Electricity Act’s objectives.
Mr Obi-Chukwu expressed enthusiasm for the Electricity Act’s potential to promote renewable energy development in Nigeria, bringing about widespread adoption of solar energy in residential and community settings. Additionally, he emphasised the importance of digital transformation and data sharing to facilitate innovation.
Adding his input, Mr Mueller emphasised the need for a clear and effective dispute resolution mechanism to address regulatory disputes and prevent inconsistencies in regulatory decisions. He highlighted the current potential for double regulation and abuse of power.
Mr Akpeneye noted that enhancing the Electricity Act should include establishing a single, comprehensive law governing the entire power sector. While electricity distribution should remain within the purview of state governments, a centralised law is crucial to ensure consistency and prevent conflicts. The Electricity Act should clearly define the roles and responsibilities of regulators, establish industry standards, and outline how stakeholders should collaborate effectively.
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.
By Adedapo Adesanya
The Governor of Oyo State, Mr Seyi Makinde, has approved the declaration of a 16-hour curfew in 10 local government areas of the state, as part of measures targeted at tackling insecurity.
According to a memo issued by the Secretary to the State Government, Mr Musibau Babatunde, the curfew takes effect from Wednesday, June 24, 2026.
The movement restriction, between 4 pm and 8 am, lasts for 48 hours in the first instance and affects local government areas bordering the Old Oyo National Park.
The affected local councils are Oriire local government (Headquarters: Ikoyi-Ile), Orelope (Headquarters: Igboho), Irepo (Headquarters: Kisi), Saki West (Headquarters: Saki), Saki East (Hq Ago-Amodu), Atisbo (Headquarters: Tede / Ago-Are), Itesiwaju (Headquarters: Otu), Iseyin (Headquarters: Iseyin), Olorunsogo (Headquarters: Igbeti), and Atiba (Headquarters: Offa-Meta, Oyo).
The development followed a series of protests that rocked the state over the abduction of children and teachers in the Orire Local Government Area in May.
The National Coordinator of the movement, Mr Juwon Sanyaolu, who spoke during the latest protest held on Monday, said the demonstration was part of ongoing efforts by the group to push for the freedom of the victims.
According to him, the protest “is a continuation of actions the organisation has embarked upon since the abduction of children and teachers” in the Orire Local Government Area of Oyo State in May.”
“We will continue to protest for the release of all abducted victims until they are free. We believe that government officials are in the comfort of their rooms and offices while innocent 46 students and their teachers are languishing in the kidnappers’ den.
“We are demanding freedom for all captives in the North, South, West, and East of Nigeria,” Mr Sanyaolu said.
He also criticised political leaders for focusing on preparations for the 2027 elections while insecurity continues to threaten the lives of Nigerians.
“We will not be sitting until 2027. By that time, we won’t even know how many will be alive.
“So that is why we are at the heart of Ibadan in Oyo State, where the abduction took place. The state and federal governments must act, or they will continue to witness mass action,” he added.
By Adedapo Adesanya
The Department of State Services (DSS) has closed its case against former Kaduna State Governor, Mr Nasir El-Rufai, in the ongoing alleged wiretapping trial before the Federal High Court in Abuja.
At the resumed sitting on Tuesday, prosecuting counsel, Mr Oluwole Aladedoye, informed the court that the prosecution would not be calling further witnesses in the matter, prompting the formal closure of the DSS case.
Following the development, defence counsel, Mr Paul Erokoro, told the court that the defence intends to file a no-case submission, arguing that the prosecution has failed to establish sufficient evidence against the former governor.
The defence subsequently sought two weeks to file the application, while the prosecution requested two weeks to respond.
The defence also applied for a variation of some of the bail conditions earlier granted to El-Rufai, describing them as stringent and difficult to meet.
They argued that the bail terms were too stringent, particularly the requirements for level 17 civil servants with properties in Maitama or Asokoro, as well as verification and attestation letters from the Kaduna state traditional council.
However, the prosecution opposed the request, insisting that qualified public officers who meet the conditions exist and urging the court to refuse the application.
Delivering the ruling, Justice Joyce Abdulmalik declined the request to vary the bail conditions, ruling that there are civil servants who own properties at the said location.
The court, however, adjourned to September 22 for the filing of the no-case submission and continuation of the trial.
In February, the federal government filed a three-count charge against the former governor of Kaduna State over an alleged interception of communications belonging to Nigeria’s National Security Adviser (NSA), Mr Nuhu Ribadu.
In a television interview, he confessed that he and other unnamed individuals listened to conversations from Mr Ribadu’s phone after it was tapped by a third party. While acknowledging that such interception is technically unlawful, he argued that illegal surveillance was not unusual.
However, the FG, through the secret police, filed charges against Mr El-Rufai at the Federal High Court in Abuja.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn