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Nigeria set to experience total darkness as Power distribution companies lament N400Billion Debt

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Nigeria may be set for a total blackout as power generation as well as distribution companies say over N400bn debts are stifling their operations.

While GENCOs’ debt is put at over N300bn, DISCOs have complained of being owed over N100bn by customers.

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With such a huge debt burden, the power firms said they lack the funding required for their operations, including the purchase of equipment and spare parts.

The Executive Secretary, Association of Power Generation Companies, Dr. Joy Ogaji, said, “The debt is over N300bn that GENCOs are being owed. If the situation is not checked, there will be blackout. It is so imminent that I don’t know if most of the generation we are having now can go beyond Christmas if the payment problem is not solved. We can’t pay contractors; most of the machines are packing up.”

Ogaji said the Nigerian Bulk Electricity Trading Company Plc should be blamed for the problem, saying, “As GENCOs, we don’t really have any direct relationship with DISCOs at the moment; GENCOs are meant to generate power and government brought NBET as a wholesaler, which takes all the power being generated by GENCOs and sells to the DISCOs. So the onus lies on NBET to collect the money from the DISCOs.

“The claim on whether DISCOs are remitting money or not should not be the problem of the GENCOs, but that of NBET. Government told us that NBET is properly capitalised and has enough money to meet all of the GENCOs’ payments. But unfortunately, NBET has not been able to do that.”

A recent advert that was placed in The PUNCH newspaper by the Association of Nigerian Electricity Distributors, the umbrella body for the DISCOs, stated that its members were being owed N100bn by consumers. ANED had earlier identified the military and government Ministries, Departments and Agencies as their biggest debtors.

However, different operators in the sector blamed the DISCOs for the drastic illiquidity in the power market, as they argued that the DISCOs were not doing enough with respect to revenue collection from electricity consumers.

Officials at NBET told one of our correspondents on Friday that regardless of the fact that the organisation was established to support the sector financially, the bulk electricity trader would not use taxpayers’ money to settle the huge debts owed the GENCOs.

“This is primarily because of the inability of the DISCOs to make the required remittance to the NBET,” an official, who spoke to Saturday PUNCH on condition of anonymity, said.

Aside the NBET, the Niger Delta Power Holding Company recently urged the DISCOs to ensure adequate remittance to the bulk trader in order to enhance smooth operations of the power business.

The Managing Director/Chief Executive Officer, NDPHC, Mr. Chiedu Ugbo, stated that the indebtedness to his company by the power market as of August 2016 was over N105bn.

He particularly stated that the huge debt to the NDPHC and the power market was primarily because the DISCOs were not remitting more than 50 per cent of what they should remit to the bulk trader for onward payments to producers of electricity and gas suppliers.

“The total energy invoiced by the eight operational NDPHC plants since they started functioning amount to about N235bn. But out of this amount and as of August 2016, we were being owed about N105bn,” Ugbo told our correspondent in Abuja.

Also, the President, Nigerian Gas Association and Managing Director, Frontier Oil Limited, Mr. Dada Thomas, in an exclusive interview with Saturday PUNCH, blamed the DISCOs for the illiquidity being experienced in the power sector.

He said, “The sector is not generating enough money. So what we have today is that the DISCOs are collecting possibly only about 20 per cent of what they should be collecting. And therefore, there is nobody coming up to pay the GENCOs and the GENCOs are not paying the gas operators.”

But the DISCOs had argued that aside the fact that the current Multi Year Tariff Order put together by the Nigerian Electricity Regulatory Commission was not cost reflective enough, the refusal of ministries, departments and agencies of government to settle their electricity bills was also hampering their ability in making the required remittances.

The Chief Executive Officer, ANED, Mr. Azu Obiaya, recently told our correspondent that to avert an increase of over 200 per cent in electricity tariff payable by residential consumers in the near future, the Federal Government had to intervene in the sector.

He explained that the government’s intervention was vital in order to address the N809bn revenue shortfall in the industry.

Obiaya insisted that the intervention could come in form of subsidy to consumers, access to foreign exchange by the companies, as well as commercial reasonable financing for the DISCOs.

He explained that DISCOs were not willing and could not impose any increase in tariff on consumers, but maintained that to avoid a situation where the consumers would have to pay as high as N70 to N105 per kilowatt-hour as energy charge, the Federal Government must do something.

Currently, the average rate being paid as energy charge by residential consumers across the country is N22.8/KWH, but this may increase if nothing is done to address the N809bn revenue shortfall in the power sector, according to the DISCOs.

The President of Association of Small Businesses of Nigeria, Mr. Femi Egbesola, who demanded stable power supply, said a blackout would lead to the closure of small businesses.

Also, a Lagos-based manufacturer-cum-economist, Mr. Akeem Babajide, said the government should urgently pay the debts it owed the GENCOs and DISCOs to avoid a blackout.

 

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ERELU OLAJUMOKE, AN ALLURING CHARMING BEAUTY MAJESTICALLY CLIMBED THE FIFTH FLOOR

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ERELU OLAJUMOKE, AN ALLURING CHARMING BEAUTY MAJESTICALLY CLIMBED THE FIFTH FLOOR

…Celebrates Golden Jubilee In Glitz and Amazing Glory

 

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She is a damsel, an embodiment of beauty, brain and brawn, possessing the best of qualities any discerning mind would dream of. She is no one else than Erelu Olajumoke, Erelu of Ifetedo Kingdom and founder/Chief Executive Officer of Erelu Olajumoke Foundation. Very industrious, illustrious and extremely hardworking, Erelu Olajumoke, the Iya Ijo of Bishop Court Chapel in Alagbaka Akure will on Saturday, the 20th of April, 2024 celebrate her 50th birthday, stepping majestically into the fifth floor and marking a golden jubilee that looks every inch, good on her.

 

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The effervescent, glamorous and charismatic Erelu Olajumoke is an enigma, a colossus who has contributed immensely to humanity and the entire global economy. She is graciously blessed with the spirit of giving. Erelu Olajumoke, a magnanimous lady of substance, value and valor has been practically involved in various forms of empowerment, spreading love, passion and absolute generosity to the poor, the needy, the old (elderly), orphans, widows/widowers, the impoverished, the underprivileged and the intimidated members of the society. Endowed with an uncommon traits of great-heartedness, Erelu Olajumoke took it upon herself to alleviate the poverty levels of the people by directly, impacting on their lives.

 

Oftentimes, this legendary philanthropist, who is very much aware of the fact that health is indeed wealth, has organized various medical outreach programmes that yielded great impact on beneficiaries. Through Erelu Olajumoke Foundation, this amazon of beauty has transformed the lives of many, bringing in, health care professionals from around the globe to give succor to those with health challenges. Her roles in the rejuvenation and revamping of people’s health are awesome and iconic. Those who have benefitted from her tremendous medical contributions would always say lofty tales about her.

 

 

As an outstandingly committed child of God, Erelu Olajumoke who is currently basking in the euphoria of clocking 50, has been and still involved in fundraising activities towards her church and evangelism. Her passion and zeal for spreading the good news of God, winning souls into the Kingdom of God and expunging sinners from the gory dungeons of sin are highly recognized and commendable. She is absolutely emotional and animated to the church, the Gospel and everything about her Creator.

 

 

An extremely supportive partner, Erelu Olajumoke is simply, the strongest pillar of support to the political and democratic achievements of her beau, the distinguished Senator Oluwole Olubiyi Fadeyi, the dynamic and zestful Senator representing Osun Central Senatorial District at the Upper Chamber of the National Assembly, Abuja.

 

 

As a matter of fact, Erelu Olajumoke has displayed so much affection for the amiable Senator through unwavering support, unalloyed devotion to his democratic ideologies and strategies coupled with her reciprocating fondness for the people her hubby represents at the Red Chambers. Erelu Olajumoke synergized her benevolent acts with those of her beloved Senator Olubiyi Fadeyi by catering for constituency needs under his Osun Senatorial District covering Osogbo, Ila, Boripe, Odo-Otin, Boluwaduro, Ifedayo, Irepodun, Olorunda and Orolu Local Government Areas.

 

 

The ‘birthday girl’, Erelu Olajumoke regularly extends her olive oil of love, passion and care for all widowed women and men in these communities not excluding helpless and hopeless orphans, out of school children, those experiencing excruciating poverty amongst other less-privileged within the Osun Central Senatorial District and beyond. Erelu stands as a rock of Gibraltar, upholding the democratic values of her hubby with in-depth determination, perseverance and tenacity. As the First Lady of Osun Central Senatorial District, Erelu Olajumoke has performed meritoriously contributing immensely to the successful foray and great achievements of her best friend, her best adviser, best confidant and above all best lover, the distinguished Senator Ajagunla Oluwole Olubiyi Fadeyi, the Tayese II of Ifetedo Kingdom.

 

 

 

With the input and advise from Erelu Olajumoke, Senator Olubiyi Fadeyo has brought new hope to the good people of Osun Central Senatorial District, giving our palliatives and economic empowerment equipments like buses, cars, motorcycles, tricycles, hairdressing equipments, barbing gadgets, grinding machines, freezers amongst other vital poverty alleviation to drastically and astronomically reduce poverty from the shores of that senatorial district.

In a nutshell, Erelu Olajumoke, who will be gathering high net-worth dignitaries, top celebrities, society bigwigs, powerful political stalwarts, family, friends and well-wishers come Saturday to celebrate her joining the club of the 50s, could be described as an awesomely delectable queen with an uncommon heart of gold.

Happy birthday to this rare gem, a blessing to humanity and the solid pillar of support behind one of Nigeria’s most reliable Senators, Ajagunla Olubiyi Oluwole Fadeyi.

Barrister Olaitan Ilori

 

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Celebrating Aare Sir Shina Akanni : The Pinnacle of Fuji Music (Photos) – Alhaji Arems

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Celebrating Aare Sir Shina Akanni : The Pinnacle of Fuji Music (Photos) – Alhaji Arems

 

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As the dawn breaks on April 19, the vibrant and rhythmic world of Fuji music celebrates a monumental occasion—the birthday of Aare Sir Shina Akanni, a maestro whose name is synonymous with the genre itself. Today, not only does he add another year to his illustrious life, but he also cements his place as the most highly rated act in the realm of Fuji music.

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Aare Sir Shina Akanni, often hailed as the Fuji Scorpido, has been a beacon of innovation and excellence in Fuji music for decades. His unique voice and high level of composition have earned him the respect and admiration of fans and peers alike. On this special day, we reflect on the journey of a man who has not only mastered his craft but has also become the yardstick by which all other Fuji acts are measured.

Born into the vibrant culture of Mushin, Lagos, Aare Sir Shina Akanni’s musical journey began at a young age. His passion for Fuji music was evident from the start, and over the years, he has released over 30 albums, each one a testament to his dedication and talent. His works such as “Fuji Discovery Medley” and “Shina Medley” have become staples in the Fuji music scene, played and replayed by those who appreciate the depth of his artistry.

But what truly sets Aare Sir Shina Akanni apart is his ability to stay at the pinnacle of Fuji music for over two decades. It’s a feat that speaks volumes about his consistency and the unwavering quality of his music. His latest album, “ABCD,” is yet another example of his musical prowess and innovation, showcasing a blend of traditional Fuji rhythms with contemporary elements.

As we celebrate Aare Sir Shina Akanni’s birthday, it’s not just another year that we’re marking; it’s the celebration of a legacy that has shaped and will continue to shape the future of Fuji music. His influence extends beyond the borders of Nigeria, touching lives and inspiring musicians around the globe.

On this day, the Fuji music community comes together to honor a legend. Aare Sir Shina Akanni’s contributions to the genre are unparalleled, and his status as the most highly rated of all Fuji acts is undisputed. As he celebrates his birthday, we join in the chorus of well-wishes and gratitude for the music that has enriched our lives.

Happy Birthday, Aare Sir Shina Akanni, the undisputed king of Fuji music. May your melodies continue to resonate, and your legacy endure for generations to come.

 

Celebrating Aare Sir Shina Akanni : The Pinnacle of Fuji Music (Photos) - Alhaji Arems

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Call EFCC to order, Nigeria is not a lawless country – Yahaya Bello Media Office

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Confusion as EFCC names ex-Kogi Gov in amended corruption allegations perpetrated before he became Governor

Call EFCC to order, Nigeria is not a lawless country – Yahaya Bello Media Office

 

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About 9:30 am today, the 17th day of April 2024, persons who described themselves as officers of the Economic and Financial Crimes Commission (EFCC) arrived the Wuse Zone 4 Residence of His Excellency, Alhaji Yahaya Bello to effect his arrest.

This is despite a subsisting Order of injunction granted on 9th February 2024 by the High Court of Justice, Lokoja Division in Suit No. HCL/68M/2024 between Alhaji Yahaya Bello v. Economic and Financial Crimes Commission, restraining the Commission either by itself or its agents from harassing, arresting, detaining or prosecuting Alhaji Yahaya Bello, pending the hearing and determination of the substantive fundamental rights enforcement action.

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The EFCC was duly served with that Order on 12th February 2024 and on 26th February 2024; the EFCC filed an Appeal (Appeal No.: CA/ABJ/CV/175/2024: Economic and Financial Crimes Commission v. Alhaji Yahaya Bello) against the said Order to the Court of Appeal Abuja division. The Appeal was accompanied by a Motion for Stay of Execution of the Order of the High Court which the Court of Appeal adjourned for hearing till the 22nd day of April 2024.

Furthermore, Judgment in the substantive case between Alhaji Yahaya Bello and the EFCC is to be delivered at 12 Noon today in Lokoja.

Contrary to all of the above, the EFCC has now laid siege to the home of H.E Yahaya Bello seeking to arrest him in contravention of the extant orders!

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It is a surprise that an agency led by a lawyer could flagrantly disobey a subsisting court order by taking actions contrary to the reliefs granted.

We are aware of the total commitment of the current administration of President Bola Ahmed Tinubu to the rule of law and can say categorically that the leadership of the EFCC might have offered the agency on a platter of gold to desperate politicians to convert to their score settling tool without minding the effect on its integrity and the image of Nigeria as regards the rule of law.

A situation where law enforcers disregard the rule of law is a definite recipe for anarchy, which will adversely affect every aspect of the nation’s economy.

Nigerians have perceived the desperation of the anti-graft agency to embarrass and harass the former Governor by all means through spurious allegations, especially the latest one dating back to September 2015, way before he assumed office.
We are aware that there are clandestine moves to correct the error, but with even more questionable allegations, which would embarrass the Commission and Nigeria more than the initial one.
It is unfortunate that an agency that is supposed to enforce the law is now the first culprit with respect to disobedience of court orders.
This is a big dent on the fight against corruption. He who comes to equity must come with clean hands.

We call on President Bola Ahmed Tinubu to call the EFCC to order in the interest of legal sanity.

MEDIA OFFICE
HE YAHAYA BELLO

 

Call EFCC to order, Nigeria is not a lawless country - Yahaya Bello Media Office

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