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Nationwide Blackout Looms as N2.7tn Debt Halts Gas Supply to Power Plants

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Nationwide Blackout Looms as N2.7tn Debt Halts Gas Supply to Power Plants

Nationwide Blackout Looms as N2.7tn Debt Halts Gas Supply to Power Plants

 

Nigeria is grappling with a severe electricity crisis as gas producers have suspended the supply of natural gas to power generation companies (GenCos) over unpaid debts, now exceeding N2.7 trillion. This decision has triggered widespread blackouts and further destabilized the country’s energy sector.

Dr. Joy Ogaji, Chief Executive Officer of the Association of Power Generation Companies (APGC), revealed in an exclusive interview that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) instructed gas producers to cease supply to indebted GenCos until outstanding payments are resolved.

“The gas suppliers have already stopped delivering to power-generating companies,” Ogaji stated. “This isn’t a sudden development; they have informed our GenCos that supply will not resume until the debts are settled.”

Mounting Debts and a Broken System

Earlier in the year, the Federal Government pledged to address these debts, with the Minister of Power, Adebayo Adelabu, announcing plans to begin repayments by April. However, despite a N205 billion payment to GenCos in recent months, unresolved disputes between gas producers and the NMDPRA over a 0.5% wholesale levy have exacerbated the issue.

“Gas suppliers rely on payments to stay afloat, yet only a fraction of the invoices are being settled. For GenCos, 70% of costs are gas-related, and this unsustainable model is crippling the sector,” Ogaji added.

The debt crisis has led to cascading failures, including a national grid collapse on Wednesday, plunging Nigerians into darkness. Reports indicate the grid, which had peaked at 4,013 megawatts earlier in the day, dropped to zero by 2:00 PM. This marks the 12th grid collapse in 2024, sparking widespread frustration and calls for urgent action.

Consumer Advocacy and Calls for Reform

Kunle Olubiyo, President of the Nigeria Consumer Protection Network, called for a forensic audit of the debt claims by gas producers, citing inconsistencies with sector realities. He also urged the government to fully privatize the power sector to eliminate inefficiencies.

“The power sector should be managed like a business, with proper financial discipline,” Olubiyo asserted. “We need enforceable penalties for non-compliance and credit mechanisms that ensure sustainability.”

Utility Companies Seek Solutions

Electricity distribution companies, including Abuja Disco and Jos Disco, confirmed the grid collapse in official statements, assuring customers of ongoing efforts to restore power.

“We are working closely with stakeholders to stabilize the grid and resume supply,” Abuja Disco stated. Jos Disco similarly emphasized its commitment to resuming operations as soon as possible.

A Way Forward?

With over 70% of Nigeria’s electricity reliant on gas-fired plants, the sector’s vulnerabilities are on full display. Industry stakeholders, including the APGC and government officials, have notified the presidency and other relevant authorities, but concrete solutions remain elusive.

As the nation contends with worsening blackouts, the urgent need for systemic reforms, debt resolution, and infrastructure upgrades is more apparent than ever.

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FBI Extradites Most-Wanted Fraudster in $6 Million Business Email Scam

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FBI Extradites Most-Wanted Fraudster in $6 Million Business Email Scam

FBI Extradites Most-Wanted Fraudster in $6 Million Business Email Scam

Omaha, Nebraska – The FBI has extradited 37-year-old Abiola Kayode, one of its most-wanted cybercriminals, from Ghana to the United States to face charges of conspiracy to commit wire fraud. U.S. Attorney Susan Lehr announced that Kayode was indicted in August 2019 in Omaha, Nebraska, for his alleged role in a business email compromise (BEC) scheme that defrauded businesses of over $6 million.

Kayode was arrested in Ghana in April 2023 after a U.S. extradition request. Ghanaian authorities approved the request, and FBI agents escorted him to Nebraska, where he appeared in court on December 11, 2024. Magistrate Judge Michael D. Nelson ordered Kayode to remain in custody until trial.

FBI Extradites Most-Wanted Fraudster in $6 Million Business Email Scam

The indictment accuses Kayode of participating in a sophisticated cyber scam between January 2015 and September 2016. The scheme involved his co-conspirators impersonating company executives via spoofed email accounts to deceive employees into authorizing fraudulent wire transfers. Victims, believing the emails were legitimate, unwittingly transferred millions of dollars to accounts controlled by the fraudsters.

Several members of the conspiracy have already been convicted and sentenced:

  • Adewale Aniyeloye, sentenced in February 2019 to eight years in prison and ordered to pay $1.57 million in restitution.
  • Pelumi Fawehinimi, sentenced in March 2019 to six years in prison and restitution of $1.01 million.
  • Onome Ijomone, extradited from Poland, sentenced in January 2020 to five years in prison and restitution of $508,934.
  • Alex Ogunshakin, extradited from Nigeria, sentenced in October 2024 to 45 months in prison.

Despite these successes, other co-conspirators remain at large.

“Four years ago, we identified six Nigerian nationals suspected of defrauding businesses and individuals across Nebraska and other states,” said FBI Omaha Special Agent in Charge Eugene Kowel. “Today, Abiola Kayode is the second co-conspirator extradited to Nebraska. To the remaining four, know this: we are coming for you.”

Special Agent Kowel commended the collaboration between U.S. and Ghanaian law enforcement, highlighting the contributions of the Ghana Police Service, INTERPOL, and Ghana Immigration Service.

The case, investigated by the FBI and supported by the Department of Justice’s Office of International Affairs, underscores the U.S. government’s commitment to dismantling international cybercrime rings.

Kayode remains innocent until proven guilty in court.

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Thomas Abolarin from ErukuCity bids a final farewell to his mother with love and gratitude

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Thomas Abolarin from ErukuCity bids a final farewell to his mother with love and gratitude

… Tribute to her profound influence and enduring spirit

~By Fabiyi Oluwaseun

 

In Yorubaland, there is a common prayer saying that signifies our desire to have good children who will provide us with a dignified burial after we pass on

The assertion above epitomizes the collective efforts of the children of the late Madam Mary Oyinlola Abolarin Akerekoro of ErukuCity in Kwara State, led by Canadian-based Thomas Abolarin, who organized a week-long funeral ceremony befitting their beloved mother who passed away on the 23rd of February 2024 at the age of 102 years.

This tribute honors the extraordinary life of Madam Mary Oyinlola Abolarin Akerekoro, a devoted mother, grandmother, and great-grandmother whose life was marked by fulfillment and outstanding achievements, serving as a testament to the special favor and kindness of the Almighty God in her life and that of her children

Mama Elopo Iye Rere, fondly called, was a good mother endowed by God with many laudable virtues, a good life, good breeding, firmness of purpose, and unfailing graciousness at all times. Children and families, including her associates, can attest that she was a woman of exemplary moral fibre

Mama Akerekoro was indeed a great and renowned daughter of Erukucity, whose life was not obscure, while her achievements remain outstanding, and her substantial and immense contributions to the growth of the community persist

Madam Mary Oyinlola Abolarin Akerekoro, also known as Iya elepo, iya rere, was a prominent figure within the Gaa Akanbi axis of Ilorin, the state capital of Kwara State. Her exemplary Christian lifestyle left a lasting legacy at Holy Family Catholic Church, situated at Gaa Akanbi, Ilorin, where she was honored and invested as “Iya Rere” (Good Mother), a title she held until her death. Although she lived to the ripe age of 102, her departure was deeply felt by the church priest and members, who greatly miss her. Her legacy is indeed worthy of emulation

In addition, this led the entire children and family of the late Madam Mary Oyinlola Abolarin Akerekoro to eulogize her using the word of God in paying tribute to a remarkable mother, great-grandmother, abiyamo toto, a woman of vision who served God and humanity wholeheartedly and throughout her life without blemish

Thomas Abolarin Akerekoro provided further testimony that Mama served her generation with merit. She completed the race with integrity and a crown of righteousness is laid up for her. Rest in peace, my beloved mummy, great-grandmother, Veronica iye elepo iya rere

To recap: A one-week burial ceremony will commence on Saturday, 14th December 2024, with a remarkable thanksgiving service at Holy Family Catholic Church, Gaa Akanbi Ilorin at 10 O’clock sharp, followed by entertainment of guests at Atlantic Events Place, Ilorin

However, other burial activities befitting her are ongoing at Eruku City, her hometown in the Ekiti Local Government Area of Kwara State within the community, and will run through week-long events

The Grand Finale is scheduled for Sunday, 21st December 2024, commencing with a special family thanksgiving service at St. Paul’s Catholic Church, Eruku, Kwara State, at 10:00 a.m. sharp. This will be followed by a reception and entertainment of guests at St. Cyprian’s football field, featuring the renowned juju highlife musician, IfeBright, who will thrill the audience at both Atlantic Events Center, Ilorin

Lastly, BethNews Media publisher Oluwaseun Fabiyi observed that robust security measures were fully implemented to ensure the safety of guests, friends, and family at the event

Watch for exclusive images of the event from BethNews Media.

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SGF Receives Acting Accountant-General of the Federation

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SGF Receives Acting Accountant-General of the Federation …Restates FG’s Commitment to Accountability, Probity, and Transparency

SGF Receives Acting Accountant-General of the Federation

…Restates FG’s Commitment to Accountability, Probity, and Transparency

 

The Secretary to the Government of the Federation (SGF), Senator George Akume, today formally received Mr. Shamseldeen Babatunde Ogunjimi as the Acting Accountant-General of the Federation (AGF) at a brief meeting in Abuja. The appointment follows the commencement of the mandatory pre-retirement leave of Dr. Oluwatoyin Sakirat Madein, the outgoing AGF, in accordance with Public Service Rules.

During the event, the SGF reaffirmed the Federal Government’s unwavering commitment to upholding accountability, probity, and transparency in the management of public finances. He emphasized the critical role of the Office of the Accountant-General of the Federation (OAGF) in the execution of fiscal policies and the realization of the administration’s economic reform agenda.

Senator Akume commended Mr. Ogunjimi’s appointment, describing him as a seasoned professional whose extensive experience and qualifications make him well-suited to lead the nation’s treasury operations during this transitional period. According to reports, the SGF reiterated that the Federal Government under President Bola Tinubu places a high premium on financial integrity and efficiency. Mr. Ogunjimi’s track record in public financial management is expected to enhance his capacity to uphold those values.

In his remarks, acting AGF Ogunjimi expressed gratitude for the trust reposed in him by President Bola Ahmed Tinubu and pledged to continue discharging his duties with dedication, professionalism, and a commitment to transparency. He emphasized his readiness to collaborate with all stakeholders to ensure the optimal functioning of the OAGF and the success of ongoing fiscal reforms.

Mr. Ogunjimi, a Chartered Accountant, Certified Fraud Examiner, and Chartered Stockbroker, brings over 30 years of expertise in financial management across the public and private sectors. His appointment underscores the Federal Government’s focus on continuity, competence, and efficiency in fiscal administration.

The meeting concluded with a call for collective efforts to strengthen Nigeria’s financial management systems and achieve the government’s vision for a sustainable, transparent, and accountable public finance framework.

SGF Receives Acting Accountant-General of the Federation

…Restates FG’s Commitment to Accountability, Probity, and Transparency

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