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Why DisCos Can’t Meet Obligations—EMRC

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Prepaid Meters DisCos

By Modupe Gbadeyanka

The Country Director, Energy Market and Regulatory Consultants (EMRC), Mrs Rahila Thomas, has explained why electricity distribution companies in Nigeria fondly called DisCos, are not performing optimally.

Mrs Thomas, speaking in Abuja at a one-day round table discussion organised by the Nigerian Senate on Addressing Nigeria’s Power Problems, stated that these electricity firms were cash-strapped.

“DisCos are not collecting sufficient cash to meet upstream obligations,” Mrs Thomas at the event while giving a presentation on the evolution of Nigeria’s electricity supply industry.

Chairman of the Senate Committee on Power, Mr Gabriel Suswam, said at the forum that, “The challenges in the power sector can be categorized into five crowd areas: Institution and Governance, Infrastructural, Political, Legislative and Environmental.”

He stated that, “The workable solution may be holistic and should take into account these broad challenges. We are here today to find solutions to electricity challenges in our country.”

Speaking further, he explained that the roundtable was organised as a result of a motion brought to the Senate on addressing Nigeria’s power problems on Tuesday, November 19, 2019, noting that the Senate resolved to hold the programme to address these issues and provide working solutions.”

In his contribution, the Minister of Power, Mr Saleh Mamman, stated that, “The most important factor in addressing the power sector is building synergy and team spirit. We have identified this at the Ministerial level. I wish all of us a fruitful resolution that will help in solving these problems.”

His counterpart in the Ministry of Finance, Budget and National Planning, Mrs Zainab Ahmed, who was represented by Mrs Evelyn Amobi, lauded the commitment of the legislative to work with the executive to resolve the issues affecting the power sector.

She assured that, “All the decisions that will be made here will have our full support and be taken to the executive.”

Senate Leader, Mr Yahaya Abdullahi, said at the forum that, “A lot of resources have been used in finding solutions into problems that have put this country backwards.

“It is the concern of the Senate to look into each other’s eyes and say the truth. We are here to own up to the issues that face this particular centre and work to find solutions to the major problem that affects the delivery of power to Nigeria.”

Senate President, Mr Ahmad Lawan, while speaking at the event, noted that, “If there is any single sector of our economy that is so important and so challenged, it is the power sector.”

He said, “This is a sector that needs a declaration of emergency. This is an opportunity for us to discuss the solutions and the way forward. The truth is we all know what is wrong, what we really need to do is to have the political will to take on the challenges frontally.”

“From the electricity power reform of 2005 and the privatization of Discos, with what is happening today, we know that everything is wrong. The time has come for us to have courage.

“We have signed into AFCTA and I believe what will give us an edge is to have a competitive environment. Our industries must be able to produce things that will compete favourably to other products in Africa but we are not in that position today. Even our citizens who have capital would rather relocate to Ghana and produce what they want to sell and bring it to Nigeria,” he said further.

Continuing, Mr Lawan said, “If we went wrong with the privatization of discos and Gencos, the time has come to look into it in the interest of our country. Definitely something is not working right. This round table is an idea of the senate that we should come together, talk amongst ourselves, ours is of course legislative intervention but we are also part of government. Whatever that is required to support the executive to amend the power sector reform, we are prepared to do that.”

Concluding, the Senate President said, “We owe this country obligation to provide employment opportunities for our teeming population. I think this round table at least is an opportunity to come up with measurable roadmaps to take the power sector to the next level.

“I believe that we have to declare a state of emergency on power and courageous decisions must be taken by government. I believe that this is one interaction that will not disappear after this session we want to take appropriate actions.”

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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GTCO Offers Vendors 204 Free Retail Stalls for 2026 Food and Drink Festival

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2026 Food and Drink Festival

By Dipo Olowookere

No fewer than 204 free retail stalls would be made available to vendors participating in the 9th GTCO Food and Drink Festival from Friday, May 1, to Sunday, May 3, 2026, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos.

The prestigious event is the brainchild of a global financial services organisation, Guaranty Trust Holding Company (GTCO) Plc, which is listed on the Nigerian Exchange (NGX) Limited and the London Stock Exchange (LSE).

This year’s theme, Everything Food and Drink, captures the expansive nature of the festival experience, reflecting not only the variety of cuisines on display but also the depth of stories behind them.

Over the years, the GTCO Food and Drink Festival has grown far beyond a seasonal celebration to become a culturally significant platform where food and drink serve as a meeting point for storytelling, innovation, and opportunity.

The provision of the free retail stalls is to showcase the rich diversity and creativity of the Nigerian food culture; from time-honoured traditional dishes preserved across generations, to bold contemporary interpretations of global cuisine, creating space for every flavour, every technique, and every craving to find expression.

Visitors can expect a rich programme featuring interactive masterclasses, live culinary demonstrations, food and wine tastings, and a vibrant marketplace showcasing small and medium-scale food businesses alongside established culinary brands.

In addition to its wide range of food and drink offerings, the GTCO Food and Drink Festival is renowned for its family-friendly atmosphere, with a well-equipped play area and a variety of engaging activities for children, ensuring an unforgettable experience for the whole family.

“The GTCO Food and Drink Festival has, over the years, become a living expression of what we stand for as an institution: innovation, opportunity, and enterprise that is accessible to all.

“What makes this platform special is not just its scale, but its humanity. It brings together people from different walks of life around something universal—food and drink—and in doing so, it breaks barriers and builds connections that extend far beyond the event itself,” the chief executive of GTCO, Mr Segun Agbaje, commented.

Since its inception, the GTCO Food and Drink Festival has positioned itself as one of Africa’s most prominent culinary gatherings, attracting participation from across Nigeria and increasingly from the wider continent and diaspora.

Admission remains free and open to all, reaffirming the festival’s commitment to accessibility as a consumer-focused event that brings people together through food, drink, culture, and enterprise.

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Edun, Dangiwa Not Sacked—Presidency

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Edun Dangiwa

By Adedapo Adesanya

The presidency has refuted reports that Mr Wale Edun, former Finance Minister, and Mr Musa Dangiwa, Housing Minister, were sacked by President Bola Tinubu.

In a statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, it was emphasised that Mr Edun duly tendered his resignation from office, citing health reasons, before President Tinubu announced his replacement on Tuesday.

As for Mr Dangiwa, no reason was given beyond handing in his resignation to the President.

Mr Edun, who clocked 70 on Monday and has battled recent ill health, fittingly submitted his resignation letter on his birthday, thanking the President for the opportunity to serve Nigeria.

“It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda”, his letter read.

“Under your leadership, Nigeria has emerged stronger, more resilient and more internationally respected.

“I wish you and the administration every success in the future”, he wrote.

According to the presidency, before the Office of the Secretary of the Government of the Federation announced his departure from the cabinet on Tuesday, Mr Edun paid a valedictory visit to the President at the Villa. He held an hour-long discussion with Mr Tinubu and then left to focus on his private businesses.

Mr Dangiwa, an architect, previously served as the managing director of the Federal Mortgage Bank between 2015 and 2022, as well as  Secretary to the Katsina State Government, before President Tinubu appointed him as housing minister in August 2023.

Mr Edun, an economist and investment banker, served as Lagos State commissioner for finance between 1999 and 2004, during the tenure of then Governor Bola Tinubu.

Before then, he worked from 1980 to 1986 at Chase Merchant Bank (later Continental) in Lagos. He joined the World Bank in September 1986 through the elite Young Professionals program, where he worked on economic and financial packages for several countries in Latin America and the Caribbean.

In 1989, he co-founded Investment Banking & Trust Company Limited (now Stanbic IBTC) and served as executive director. In 1994, he founded Denham Management Limited, which has since become the Chapelhill Denham Group. He served as chairman from 2008 to 2021.

President Tinubu has expressed deep appreciation to both men for their dedicated service and significant contributions to the administration’s economic reform programme and wished them continued success in their future endeavours.

Mr Edun has been replaced by Minister of State for Finance, Mr Taiwo Oyedele, to consolidate ongoing reforms and advance the administration’s fiscal and economic objectives with renewed focus, discipline, and innovation.

President Tinubu will shortly send the ministerial nominee for housing, Muttaqha Rabe Darma, also from Katsina, like Mr Dangiwa, to the Senate for confirmation.

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Residents Must Obtain Permit to Install Solar Panels in Our Estates—Lagos

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lagos housing estates

By Modupe Gbadeyanka

The Lagos State government has said residents of its housing estates across the state are not authorised to install solar panels without first obtaining approval from the appropriate quarters.

A statement issued on Wednesday by the Director of Public Affairs in the Lagos State Ministry of Housing, Mr Ganiu Lawal, gave this clarification.

This arose from a recent social media post by a resident who raised concerns over the Ministry’s Monitoring and Compliance Team’s demand for solar panel installation approval during a routine operation at the Lagos State Millennium Housing Estate, Ibeshe.

In the statement, the Permanent Secretary in the ministry, Mr Abdulhafis Toriola, explained that residents are not allowed to make alterations in government-owned housing schemes to protect shared assets, prevent fire incidents and structural damage.

“An allottee must obtain approval from the Ministry for any intended alteration to the flat allocated and the building, and this includes installation of solar panels,” he stated.

Mr Toriola, an Engineer, further explained that the requirement, which is contained in the Letter of Allocation and Allottees Guide issued to all beneficiaries at the point of purchase, also aims to prevent fire incidents linked to unprofessionally installed solar systems.

According to him, the ministry was compelled to develop specific guidelines after solar panel installations began to create more problems than benefits for both users and non-users within government estates.

“In recent times, the ministry had to intervene in fixing leaking rooftops and incessant fire outbreaks caused by solar panel installation by some residents,” he said.

The senior government official noted that government estates are social housing interventions designed with connected shared assets and facilities for residents, with blocks of flats housing between two and thirty-two families.

“In order to minimise risk that will affect the entire building structure, the Ministry made regulations to stipulate guidelines for installation, the quality of materials such as cables and panel configuration, and the technical know-how of the installation personnel,” he added.

The guidelines, he said, are designed to protect other flat owners, insulate the entire building with insurance against damages, and apportion appropriate roof space to all flat owners to prevent disputes when multiple occupants in a block seek to install solar panels on the same roof.

He disclosed that the ministry was open to feedback from residents always, urging all allottees to reach out to the ministry when in doubt and comply with the established process to ensure safety, structural integrity, and harmonious coexistence in all state-owned housing estates.

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