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Main reasons Nigeria is suffering from Shortage of electricity supply – Lamu Audu reveals

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Managing Director of Mainstream Energy Solutions, Mr Lamu Audu, has dismissed claims by the Transmission Company of Nigeria, TCN, that low water level was partially responsible for the current gross inadequate power supply in the country.  He told journalists in Abuja that the issue of low water level did not arise, because, indeed, the level of water in the nation’s two main electricity generating dams in Kainji and Jebba were still rising, due to the black flood from Lake Chad. He said: “For anybody to mention water level is unacceptable. It is not true.  The issue of water does not arise.”

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According to Audu, of the total generation on the grid of  2,929 megawatts, as at Monday morning, Mainstream operators of both Kainji and Jebba Hydro Power plants contributed about 700megawatts  and adding that Shiroro hydro power also had about 300 megawatts. He said the electricity industry was facing grave challenges that needed to be urgently addressed, especially to ensure the evacuation of all the power generated by his plants and that of others. He revealed that the industry had suffered three system collapses since the beginning of the year and that until the current crisis, occasioned mainly by gas pipelines vandalism, electricity generation frequency was too high and damaging plants. “There has been three-system collapse this year alone; two full collapse and one partial within the same month and this is what is causing all these fluctuations. Part of the problem is that when this system collapse happens, it affects our machines and now Jeba is suffering. “We have been having up to this week, high frequency which is as a result of somebody not using the power they are having, that is the only explanation. So, most of these high frequencies cause this system collapse.”

Electricity generated  not being utilised. Audu said that it was ironical that power generation companies such as Mainstream were suffering losses due to unutilized power, while Nigerians have no power to run their businesses and for domestic uses. He said: “Our system is feeling it. The problem with generation of electricity is that electrical energy cannot be stored. You use as produced. So, these machines monitor that  what it tries to put on the grid  is actually utilized, if it is not, the frequency will shoot up and the machine will see it and then begins to de-load and if the machine is not designed to de-load on its own, it will trip to protect itself from the high frequency. “And by the time our machines trip, so many sequence of events happen within that machine and it causes a lot of wear and tear and with the aged machines that we have and by the time you go through one, two, three system collapse, the damage is much.” The Mainstream boss challenged the TCN to tell Nigerians why there have been consistent high frequency of above 50, with a record of 51.84 as at Monday morning. He said: “I think TCN should answer because they are the ones taking the energy from us and giving to the DISCOs but if the DISCOs are not utilizing it, they will know better than anybody else. “The DISCOs can deny but TCN should have the records to tell us what is happening to the energy that we are generating. Simple question: why has the frequency been high. Even from the system collapse, it shows from the broadcast 51.48 instead of 50 which means that someone is not taking the power we are producing. “It has been observed recently that the frequency has been on the high side, why? They should tell Nigerians why? Because if you ask the DISCO man, he will deny it, he will tell you there is no generation.”

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UBA Celebrates Africa Day in Style, Commits to Empowering Youths for Leadership Roles

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UBA Celebrates Africa Day in Style, Commits to Empowering Youths for Leadership Roles

 

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Africa’s Global Bank, the United Bank for Africa (UBA) Plc marked the this year’s Africa day, with fanfare. The event which was celebrated across the banks 20 African subsidiaries, including New York, UK, France and Dubai, culminated into a mini carnival at the corporate head office in Marina, Lagos as it witnessed  a rich culture of African people on display.

The bank said the event was aimed at encouraging Africans home and abroad to be patriotic and embrace their culture.

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It was all colour and glitz as a troupe of dancers representing Nigeria, Ghana, Zambia, Côte d’Ivoire, Senegal, Zimbabwe, among other African countries, entertained the audience from the entrance of the building to its doorways through to the Tony Elumelu Amphitheatre Hall. Their overall performances exuded good vibes and earned them ovation from all.

Noting that Africa has unarguably positioned herself as the second largest continent in the world with its rich cultural heritage, the bank said the continent remains the only one in the world that was evidently bequeathed with the most colourful and distinctively diverse culture appreciated across the globe.

From her aesthetic art works, ethnic costumes, expressive dances, mind-blowing plethora of languages, amazing dishes, tourists attractions, and wildlife among others, Africa is seen as a world power that is yet to explore.

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It is, therefore, to proudly and powerfully project her cultural heritage that UBA hosted the event in Lagos an to commemorate this year’s Africa Day. It said that part of its aim was for dignitaries to map out lasting solutions to persisting challenges in the continent.

Themed, “Educate an African Fit for the 21st Century: Building Resilient Education Systems for Increased Access to Inclusive, Lifelong, Quality, and Relevant Learning in Africa,” for us at UBA, it only reinforces our belief and passion for education as exemplified in our foundations National Essay Competition where winners who emerge are given scholarships through school.

According to the Group Managing Director, United Bank for Africa, Oliver Alawuba, “We are in 20 African countries and four countries outside Africa. Our focus has always been on not only driving investments into Africa but also to empower Africa’s youth by honing the critical thinking prowess of our youth as well as groom them for leadership roles across the continent.

Alawuba said UBA aspires to develop and grow in the world, adding that unity is critical and very important in Africa hence the emphasis on how to change the narrative. “Unity is critical and very important for the future of Africa, we need to remain united to achieve our aspirations and the youth are critical to that growth”, he said.

Consequently, as one of Africa’s leading financial services institutions, with a pan-African footprint spanning 20 African countries and globally in the US, UK, the United Arab Emirates and France, UBA says it’s fully committed to unifying Africa and empowering youths for the future. It also continues to lead the narrative focused on the development, growth, and unity of Africa

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Oworonshoki-Apapa Expressway: Tinubu commends Dangote, describes project 10th Wonder of the World …We consider this project CSR – Dangote

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Oworonshoki-Apapa Expressway: Tinubu commends Dangote, describes project 10th Wonder of the World

…We consider this project CSR – Dangote

President Bola Ahmed Tinubu has described the newly commissioned Oworonshoki-Apapa Expressway as the Tenth Wonder of the World.

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This is just as he commended the President of Dangote Industries Limited, Alhaji Aliko Dangote, for his selflessness in actualising the project.

President Tinubu, represented by Senate President Godswill Akpabio, enthused that the 37-kilometer road, which commenced in 2018 by the former administration and completed in 2024, is a win for all Nigerians.

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He explained that the importance of Lagos State to Nigeria makes it very vital and as such must work for the benefit of all.

According to him: “Lagos is home to all, I thank Aliko Dangote for coming up with this initiative and in partnership with HiTech have delivered the Tenth Wonder of The World.

“Lagos is not the only state experiencing growth and development under the renewed hope agenda. I also congratulate the Minister of Works David Umahi for his passionate commitment to structural development across Nigeria,” he said.

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Speaking on the “extremely poor” condition of the road before December 2018, Dangote stressed that the road “severely hampered the evacuation of goods and restricted access to the markets, paralyzing the shipping and manufacturing industries and disrupting supply chains across the entire economic landscape.

“Before the completion of this road, it used to take two weeks before we get to the port, and in about 18 months, we lost over N60bn in demurrage…The successful completion of this project is an example of the positive impact that can be achieved when the public sector collaborates with the private sector.” Dangote said

“Utilising the visionary framework of Executive Order 007 in Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, the Dangote Group has been able to mobilise capital for the complete refurbishment of the entire 37 kilometers length of Apapa-Isolo-Oworonshoki road and its expansion to 10 lanes.”

Dangote added that the Group was privileged to partner with the Federal Government in the transformative efforts, reaffirming its commitment to national development and prosperity.

He also stated that the scheme must be revisited to make it more viable for the private sector participants. “In this case, we have so far recovered only 40 percent of our investments and the balance is not due until 2027, we consider this project merely as Corporate Social Responsibility.

“We believe that a more commercial interest rate recovery should be allowed given the high cost of capital in the Nigerian fiscal environment,” he said.

In his remarks, Engr Umahi also commended the Dangote Group for delivering a well-executed project, adding that the quality of the Dangote Cement is a testament to the value seen on the road.

“I was once trapped for 8 hours on my way to the airport and so, I understand how terrible the road was. We are celebrating this project today because it was well done and a display of new technology. It is fully completed with solar-powered streetlights.

“In the same vein, the Third Mainland Bridge wasn’t just another rehabilitation work, a road that has been standing for about 40 years… to ensure that our bridges last longer, I’m happy to announce that Mr. President has approved the ban on the excavation of sands 10 kilometers from bridges across Nigeria.”

The Governor of Lagos State, Babajide Sanwo-Olu, represented by his deputy, Obafemi Hamzat revealed that about 20 companies had relocated from the Apapa axis of the state owing to the condition of the road, “…the state of the road is unimaginable. We are grateful to Aliko Dangote, HiTech for the excellent job they did. It used to take over seven hours to drive from one end of the road to the other, it now takes around an hour,” he said.

 

Oworonshoki-Apapa Expressway: Tinubu commends Dangote, describes project 10th Wonder of the World
…We consider this project CSR - Dangote

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Optiva Capital’s Dr. Kimemia Ignites Empowerment Movement at SheCan 5.0

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Optiva Capital’s Dr. Kimemia Ignites Empowerment Movement at SheCan 5.0

The SheCan Conference 5.0 reached new heights over the weekend as thousands of women and young girls gathered for a day of empowerment, mentorship, and networking. Sponsored by Optiva Capital Partners, the event showcased a diverse lineup of speakers from various fields, making it the most memorable SheCan conference yet.

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Dr. Kimemia, the CEO of Optiva Capital Partners, delivered an inspiring address on ‘Positioning for More’ in one’s career. She emphasized the importance of self-worth, motivation, and service in achieving career success. “You must have self-worth and believe in yourselves. You must believe in your ability to excel and get to the destination that you have set for yourselves,” she urged the attendees. Reflecting on her personal life story, Dr. Kimemia also highlighted the critical role of girl child education in promoting gender equality and women empowerment, stressing its ripple effect on families, communities, and society.

 

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L-R Shaffy Bello, Actress; Optiva Capital Partners CEO, Dr. Jane Kimemia; SheCan Convener, Ezinne Ezeani; Founder, Lifecard International Limited, Grace Ofure Ibhakhomu; and Audrey Joe-Ezigbo, Deputy Managing Director, Falcon Corporation at the SheCan Conference 5.0 in Lagos.

 

The event began with a powerful rendition of the national anthem by singer Sandra Osamor, setting a tone of inspiration and patriotism. The anthem’s lyrics, especially those addressing the youth, resonated deeply with the audience, reinforcing the conference’s message of nation-building and the importance of youth involvement.

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The SheCan Conference, now in its fifth year, brought together an array of speakers, including wealth management experts, financial advisors, entrepreneurial leaders, energy specialists, motivational speakers, and even a comedian who used humor to impart life-changing lessons on decision-making. This diverse mix ensured a comprehensive and engaging experience for all participants.
Ezinne Ezeani, founder of SheCan Nigeria, expressed her gratitude to Optiva Capital Partners and other sponsors for their continued support and belief in the organization’s vision. “We are thankful to Optiva Capital Partners and other companies for being our headline sponsor and helping us create an impactful platform for women to thrive,” she said.

Other notable SheCan Nigeria partners that graced the conference include, Wema Bank, Nigerian National Petroleum Limited and a host of others. The conference also had Audrey Joe-Ezigbo, Deputy Managing Director, Falcon Corporation, Grace Ofure Ibhakhomu, Founder, Lifecard International Limited and many others as speakers at the event.

Optiva Capital Partners is a premier wealth management company, and Africa’s largest firm in investment immigration. The company also specializes in investment advisory, insurance, and international real estate. Their commitment to empowering women aligns with the goals of SheCan Nigeria, a vibrant social movement dedicated to helping women achieve their full potential through collaboration and empowerment.

#OptivaCapital #Dr.Kimemia #Empowerment #SheCan 5.0 #womenempowerment #WemaBank #NigerianNationalPetroleumLimited #NNPC #AudreyJoe-Ezigbo, #DeputyManagingDirector #FalconCorporation #GraceOfureIbhakhomu #Founder #LifecardInternationalLimited

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