Author

Folarin Kehinde

More Hardship For Nigerians As FG Raises Price Of Pre-Paid Meter From N82,855 To N109,684

by Folarin Kehinde November 13, 2021

written by Folarin Kehinde

The Federal Government has raised the price of both single-phase and three-phase electricity meters beginning from November 15, 2021.

It announced this in a circular dated November 11, 2021, issued by the Nigerian Electricity Regulatory Commission.

The circular was addressed to managing directors, all electricity distribution companies and all meter asset providers.

The circular, with reference number NERC/REG/MAP/GEN/751/2, was entitled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations.’

Recall, the metering scheme was introduced by the Federal Government through the Nigerian Electricity Regulatory Commission, following the high level of complaints received from customers dissatisfied with the estimated billing practices.

Shortly after the launch of the metering scheme, the FG launched the National Mass Metering Programme (NMMP), to increase the country’s metering rate and eliminate arbitrary estimated billing.

The Central Bank of Nigeria had in October 2020, issued the Framework for Financing of National Mass Metering Programme, under which the bank is expected to provide financing support to the Distribution Companies (DisCos) for the procurement of meters for customers.

The government had launched the first phase in October 2020, with distribution of six million free pre-paid electricity metres to Nigerians through the National Mass Metering Programme.

The scheme was launched in Eko, Kano, Kaduna and Ikeja Distribution Companies (DisCos) franchise areas

The Minister of power, Mamman Sale had in May said that the second phase would cover four million households.

The Minister explained that the first phase of free meter distribution is still ongoing.

But in the document issued by NERC, the regulator raised the price of a single-phase meter from the current cost of N44,896.17 to a revised price of N58,661.69.

It also increased the price of a three-phase meter from the current cost of N82,855.19 to a revised rate of N109,684.36.

November 13, 2021 0 comments

Headlines

Nigerian Sentenced To Death In Malaysia Regains Freedom

by Folarin Kehinde November 11, 2021

written by Folarin Kehinde

In a rare court judgement, a Nigerian man, Jonas Chimhurumnaya who was sentenced to death in 2018 for Drug trafficking has been acquitted.

His conviction and death sentence was set aside by the High Court and the Court of Appeal in Kuching, Malaysia. Chimhurumnaya was arrested for allegedly trafficking 158.3g of methamphetamine in a car park at Jalan Canna at about 12.05am on June 7, 2016.

He was charged under Section 39B (1)(a) of the Dangerous Drugs Act (DDA) 1952 and punishable under Section 39B(2) of same Act, which carries a death sentence or imprisonment for life and with whipping, upon conviction.

On January 30, 2018 he was found guilty and sentenced to death on by the Kuching High Court. His counsel appealed the High Court’s decision to the Court of Appeal but was dismissed on Oct 23, 2019. He subsequently appealed to the Federal Court.

‘The Star’ reports that a three-member panel led by Datuk Seri Mohd Zawawi Salleh together with Datuk Nallini Pathmanathan and Datuk Abdul Rahman Sebli unanimously discharged and acquitted Jonas Chimhurumnaya after allowing his appeal in Zoom proceedings on Thursday, November 11,2021.

Newscredit: Star

November 11, 2021 0 comments

Headlines

COP26: Climate Justice, Finance tops African Countries Demand

by Folarin Kehinde November 7, 2021

written by Folarin Kehinde

Following the first two opening days of COP26 in Scotland, over 25 African leaders took center stage to demand climate justice and greater support from richer nations.

Similarly, African leaders demanded wealthy countries make good on their pledge to deliver $100 billion a year in climate finance to developing countries – a commitment made at the UN climate talks in 2009.

A report recently announced they would not be able to meet this target until 2023.

Between 2016 and 2018, only 25% of the money promised to developing nations went to Africa.

While the continent is responsible for just 3% of global emissions, it remains the most vulnerable region to global warming.

For example, Madagascar has been hit by one of the modern world’s first climate change-induced famines, yet the island country produces a little more than 0.01% of the world’s annual carbon dioxide emissions.

With over 120 world leaders in attendance, the continent was well represented with statements from Angola, Central African Republic, Congo, Comoros, Democratic Republic of Congo, Egypt, Eswatini, Gabon, and Ghana.

Others include, Guinea-Bisseau, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Seychelles, Sierra Leone, Sudan, Tanzania, Togo, Zambia, and Zimbabwe.

“The world should fulfill their promises”

“We are naturally very disappointed by the failure of wealthy nations to honor their commitments,” said Nana Akufo-Addo, the president of Ghana. “We must find a solution that recognizes the historical imbalances between the high emitters and low emitters.”

A recent report showed lower income countries spend five times more on debt to rich nations than coping with the impact of climate change. Several African leaders lamented high debt payments which are hindering adaptation efforts.

“Due to high debt servicing, we lack the fiscal space to scale up investment in climate change action,” said Julius Maada Bio, the president of Sierra Leone.

He added that Africa has access to less than 5% of global climate financing streams, while Moeketsi Majoro, Lesotho’s president said “access to global climate finance mechanisms remain effectively shut.”

Several stressed finances should come in the form of grants and not loans, and should be directed towards adaption – not mitigation.
Richer nations must reduce their emissions Africa’s leaders painted a grim picture of the continent’s plight in the face of climate change.

A rise in extreme weather events is damaging economies reliant on agriculture and natural resources. Climate change is exacerbating already high levels of poverty, while the economic shock of covid-19 has further weakened capacity to manage climate threats.
Recognizing Africa’s minimal contribution to the climate crisis, leaders urged rich nations to urgently reduce their emissions in line with a 1.5C temperature rise.

“It is most unfortunate that the impact of climate change is disproportionately borne by the vulnerable communities which have contributed the least to the current stock of atmospheric carbon,” added Emmerson Dambudzo Mnangagwa, the president of Zimbabwe.

“The expectation is that major emitters will scale up mitigation action.”

Africa’s leaders are hoping the outcomes at COP26 could save the continent from further impacts of climate change.

The African Union Commission warned that up to 118 million extremely poor people will be exposed to drought, floods, and extreme heat in Africa by 2030. Climate change could further lower GDP in sub-Saharan Africa by up to 3% by 2050.

“If we as developing countries have shown leadership, why are large emitting countries lagging behind?” said Samia Suluhu Hassan, the president of Tanzania.

“If the world will not accordingly, countries like ours have no option but to brace for devastating impacts.”

November 7, 2021 0 comments

Headlines

Five feared killed as fire guts Kubwa market

by Folarin Kehinde November 5, 2021

written by Folarin Kehinde

Five persons were feared killed on Friday evening as a section of the popular Kubwa ultra modern market in Abuja was gutted by fire.

While the identity of the deceased were not immediately known, an emergency services personnel at the scene said at least two others were said to have sustained varying degrees of burns.

While the actual cause of the fire which started minutes before 8pm could not be immediately ascertained, traders said it was as a result of explosion from adulterated kerosene.

As of 8:45pm, fire fighters were still struggling to contain the inferno.

November 5, 2021 0 comments

Headlines

Anambra Election: AAC Nwankwo Pulls Out, Endorses PDP’s Ozigbo

by Folarin Kehinde November 5, 2021

written by Folarin Kehinde

Chidozie Nwankwo, candidate of the African Action Congress (AAC) in Anambra State governorship election has stepped down for Peoples Democratic Party (PDP) flagbearer, Valentine Ozigbo.

The endorsement was announced Friday night by Ozigbo’s media team barely 24 hours before the election.

It is significant for being the only one of such endorsements in this campaign season”, the statement read.

Nwankwo pledged the support of his campaign organisation and associates to Ozigbo and prayed for his success on Saturday.

Nwankwo urged his structures and supporters to offer the same support he received to Ozigbo.

“After due consultations with top aides, friends and family, we do hereby endorse the best candidate in this contest, Mr Valentine Chineto Ozigbo of the PDP, to win the governorship election,” his statement said.

“We hereby collapse our campaign structures, the Kingdom Care Foundation structure and all the Pentecostal structures supporting our candidacy in this election to support the election of Mr Valentine Ozigbo of the PDP.”

On Thursday, the Labour Party (LP) pledged its support for the former Transcorp chief. Also, several All Progressives Congress (APC) supporters in Aguata Local Government Area joined the PDP.

November 5, 2021 0 comments

Headlines

Husk Power Launches Solar Hybrid Mini-grids in 6 Nigerian Communities, targets over 500 mini-grids by 2026

by Folarin Kehinde November 4, 2021

written by Folarin Kehinde

Rural Clean Energy services leader in Africa and Asia, Husk Power has launched its first six solar hybrid minigrids in
Nigeria, located in Nasarawa State.

The newly launched minigrids will provide clean, reliable and affordable electricity
to about 5,000 households and 500 businesses in Doma and Lafia Local Government Areas
(LGAs).

The six communities accessing electricity for the first time are Rukubi, Idadu and
Igbabo in Doma LGA, and Kiguna, Akura, and Gidan Buba in Lafia LGA.

Co-founder and CEO, Husk Power Manoj Sinha while speaking at the commissioning of the 50KWP in Rukubi, Nassarawa State stated that Husk
Power is proud to be contributing to the government’s vision of public-private partnership to provide clean, quality, reliable electricity that powers economic opportunity for small businesses
and households across the country.

According to Sinha, Nigeria’s leadership in rural electrification and making minigrids a centerpiece of national
energy strategy is a global best practice.

Nasarawa State Governor, Engr. Abdullahi A. Sule expressed optimism said the completion of the six minigrids by Husk Power Systems in Nasarawa State is an important step in scaling rural electrification and achieving energy access for all Nigerians.

“It is with great pride that Nasarawa State has collaborated with Husk Power, the world’s leading rural clean energy services company, and the Federal Government through the Rural Electrification Agency
to implement these impressive projects, which will ensure clean, safe and reliable electricity for the communities in Rukubi, Idadu, Igbabo, Kiguna, Akura and Gidan Buba”.

The Governor call on the community leaders to take the project seriously because nobody will protect the project but them.

“You are the ones to jealously guide this project, it is your responsibility to protect it with your sweat and effort to ensure its protection”.

“On its maintenance, government will come into that, but you need to protect the project and particularly those handling the project”.

MD/CEO, Rural Electrification Agency, Engr. Ahmad Salihijo said the project is a testament of federal government resolve to increase energy access to Nigerians especially to the unserved and underserved communities.

Apart from improving the economic activities of the communities, the REA is also committed to use off-grid energy in the reduction of carbon emission, this is in line with Paris agreement and climate change.

“It is evident that our intervention in communities is key to accelerate through national development with continued guidance from the federal ministry of power, we will continue to lift up remote communities across the nations through the provision of clean, safe and reliable energy”.

Acting Regional Director for Infrastructure, Africa West and Africa East; Practice Manager, West and Central Africa Energy, Ashish Khanna explained that the World Bank is a proud partner of the Government’s Nigeria Electrification Program (NEP).

“It is 2 years ago that the first solar minigrid was commissioned under NEP at Rokota village since then significant progress has been made with 359 private sector led solar minigrid projects
under development with the potential to provide electricity to 1.1 million people.

“Husk Power is now showing the way in scaling, with the first ever deployment of 6 sites simultaneously under the program, contributing to their ambition to roll-out 500 systems by 2026”.

“Hydro is the cheapest source of electricity, though, but it entails a decentralized energy solutions, which is not likely to happen here soon, but until then, this is the most sustainable solution for this community, because for now, they do not have what to use other than diesel or gasoline”. Chief Maintenance Officer, Husk, William Brent alluded.

November 4, 2021 0 comments

Headlines

FG Borrows N8.29trn From N12.9trn Pension Fund

by Folarin Kehinde November 3, 2021

written by Folarin Kehinde

The Federal Government has borrowed a whopping N8.29 trillion from Pension Fund Assets which stood at N12.9 trillion at the end of August 2021.

Even though an earlier attempt by the federal and state governments to borrow directly from the pension funds was met by a stiff public resistance, thus nipping the idea in the bud, the federal government has continued to dominate in utilisation of the pension funds’ assets, howbeit indirectly through investment in federal government securities.

The federal government, through the National Economic Council (NEC), had in 2019 announced plans to borrow N2 trillion from the pension funds to finance the development of infrastructure.

The decision sparked a lot of backlash as Nigerians unanimously kicked against the move. Had the plan worked, it would have become the norm for governments to borrow directly from the pension funds.

Pension fund investment in federal government securities still accounted for the bulk of 64 per cent of total pension fund assets, crowding out investments in other sectors of the economy, even as it dropped by about N220billion from N8.51trillion in July, 2021 to N8.29 trillion as of the end of August 2021.

The drop, according to investigation, was as a result of drop in yield of bonds and treasury bills, which started last year, hence, Pension Fund Administrators (PFAs) were divesting from this investment outlet, into better investment windows that give better returns.

Pension fund operators have been seeking investment alternatives besides government bonds and treasury bills to increase returns on investment on pension assets as yields from FGN securities decline.

Hence, as the previous investment matured, pension fund operators were divesting the proceed in money and capital market instruments.

Similarly, the embargo placed on PFAs in 2019 by the Central Bank of Nigeria (CBN) not to trade in OMO bills were equally responsible for this drop, with PFAs liquidating their matured bills and taking the proceed into another investment outlets.

Findings further revealed that the N8.2trillion investment in federal government securities translates to 64 per cent of the entire N12.9 trillion pension assets.

Analysis shows that treasury bill was also responsible for this drop as investment in treasury bills nosedived from N439 billion in July, 2021 to N410 billion in August, 2021.

Since the inception of the Contributory Pension Scheme (CPS) in 2004, 60 to 70 per cent of the entire pension fund assets has always been invested in FG securities which include bonds and treasury bills.

This is even as the pension fund assets had risen to N12.9trillion as of the end of August 2021, jumping from N12.78 trillion in July 2021. This shows a growth of N120 billion within one month.

However, the pension fund managers’ investment in federal government securities has allowed the government to fund its expenditure as well as embark on some capital projects through this local borrowing.

To this end, a document sourced from the National Pension Commission (PenCom) recently shows that as of the end of August 2021, of the N8.29 trillion invested in FG securities, N7.78 trillion was invested in FGN bonds; N410 billion was invested in treasury bills; Sukuk bond gulped N73.8billion; N88 billion in state government securities; Agency bond investment was N14.5 billion and Green bond gulped N11 billion.

The consistent rise in the volume of the nation’s pension assets was attributable to new pension contributions received, interest from fixed income securities and net realised on equities and mutual fund investments.

Investment income was instrumental to the continuous growth in pension fund, despite the fact that government at the state and federal levels are not paying the monthly pension contributions of their workers as and when due.

The Director General, National Pension Commission (PenCom), Mrs. Aisha Dahir-Umar, said the growth in the pension fund assets under the new pension scheme is an indication of prudent and sincere management of the pension fund by the pension operators and the regulator.

November 3, 2021 0 comments

Headlines

NIN: FG Extends SIM Connection Deadline for the 8th time

by Folarin Kehinde October 30, 2021

written by Folarin Kehinde

The federal government has again extended the deadline for phone users to link their lines with their National Identity Numbers (NIN).

The deadline was to elapse on Sunday October 31, but the government has moved it to end of the year.

This was disclosed in a statement jointly signed by the spokespersons of the Nigerian Communications Commission (NCC), Ikechukwu Adinde, and the National Identity Management Commission (NIMC), Kayode Adegoke.

It is the eighth time the government would shift the deadline for the registration since it mandated compulsory registration and linkage in December 2020.

“The decision to extend the deadline was made further to appeals by the Mobile Network Operators and other industry stakeholders, soliciting for a further extension to ensure better compliance with government’s directive and to avoid widening the digital divide,” the statement said.

“The extension would also provide the enabling environment for the registration of Nigerians in remote areas, diaspora, schools, hospitals, worship centres, as well as foreigners, diplomatic missions, those in other areas that were hitherto unreachable, and increase enrolments in countries with a significant number of Nigerians.”

It said the review of the progress of the exercise indicated that over 66 million unique National Identity Numbers (NIN) had been issued- an indication of progress achieved in the ongoing NIN-SIM linkage.

“However, a significant part of the populace is yet to be registered into the National Identity Database (NIDB), which may be due to some challenges which the Federal Government has looked into and has made efforts to alleviate, hence the need to extend the deadline,” it said.

It said as of October 30, there were over 9,500 enrolment systems and over 8,000 NIN enrolment centres within and outside the country- this has significantly eased the NIN enrolment process and subsequent linkage of NIN to SIM.

October 30, 2021 0 comments

Headlines

High Court Judge Exposes AGF Malami, Leaks His Dirty Secrets

by Folarin Kehinde October 30, 2021

written by Folarin Kehinde

Shahzam Suleman

Chief Magistrate Emmanuel Iyanna of Wuse Zone 6 magisterial division in Abuja has admitted that he was lied into signing a search warrant for the residence of a top Supreme Court jurist by the Federal Ministry of Justice under Attorney-General Abubakar Malami.

Mr Iyanna consequently revoked the search warrant he approved against Justice Mary Odili’s residence due to misrepresentation in the first information application supplied by an ad-hoc public asset recovery panel domiciled under the justice ministry and overseen by Mr Malami.

“Upon misrepresentation to this honorable court that led to the issuance of a search warrant in favour of Joint Panel Recovery, Ministry of Justice, against House 9, Imo Street, Maitama, Abuja, dated October 29, 2021,” the senior magistrate said in a fresh order. “In view of the above fact, the said search warrant is hereby revoked.”

Mr Iyanna’s October 29 order came hours after media reported that armed operatives have tried to breach the residence of Mrs Odili on Imo Rivers Street in Maitama. Officers had arrived at the residence bearing a warrant that was issued based on whistleblower information from Aliyu Umar, an Abuja residence.

Mr Umar had deposed on October 13 that there were illegal activities going on at 9, Imo Street, Maitama, that should warrant immediate action from the law enforcement.

The whistleblower also said in court filings that the tip-off was supplied to the Economic and Financial Crimes Commission.

This prompted Mr Iyanna to issue a warrant on October 29 for the property to be searched.

Subsequently, operatives mobilised to Mrs Odili’s house based on the warrant seeking to forcibly search it in the evening of October 29, the same day a warrant was approved. Our sources said the Supreme Court jurist rejected the move to search her residence because she had no pending issues with anti-graft agencies.

Mrs Odili also argued that the warrant was not meant for her residence since she lives at 7, Imo River Street, Maitama, and not 9, Imo Street, Maitama, as stated in the warrant.

The operatives nonetheless laid siege on the residence for hours. Court document Even though the whistleblower stated in court filings that he provided his findings to the EFCC and one of the operatives had told The Gazette that EFCC led the operation, the anti-graft office denied playing a role in the operation.

“If there was any such operation” that Mrs Odili’s house was besieged by anti-graft operatives, “it was not carried out by the EFCC,” the agency’s spokesman Wilson Uwujaren said in a statement to The Gazette late Friday.

The Gazette had earlier reached Mr Uwujaren for comment prior to breaking the news but received no immediate response. Mrs Odili’s husband Peter had been under EFCC investigation for alleged fraud that dates back to his tenure as Rivers governor between 1999 and 2007. Mr Odili denied the charges, and a federal judge ordered the release of his international passport earlier this week.

A chief police superintendent, Lawrence Ajodo, also signed off on the operation and The Gazette’s sources previously mentioned that police officers were part of the operation.

The officers left Mrs Odili’s residence following the revocation of their warrant. But the development has elicited harsh criticisms of Mr Malami, whose controversial role in alleged anti-democratic moves of the administration contributed to his new status as a formidable force in President Muhammadu Buhari’s cabinet.

In 2016, Mr Malami supported the State Security Service when its brutal personnel broke into the residences of over a dozen federal judges, including three of the Supreme Court at the time.

The attorney-general also recently proposed suspension of the Nigerian Constitution and declaration of martial law in order to restore peace in volatile parts of the country.

October 30, 2021 0 comments

Headlines

Party Convention: PDP in Diaspora Showers Encomium for a Successful Convention

by Folarin Kehinde October 30, 2021

written by Folarin Kehinde

US-based non-profit organization of Nigerians in diaspora, Diasporans for PDP, has sent a congratulatory message to PDP, wishing everyone a successful 2021 National Convention.

National Publicity Secretary, Dr. Chidi Igwe, in a statement on behalf of the entire membership, our Founder and National Chair, Honourable Victoria Pamugo, who is also a member of PDP’s 2021 National Convention Committee, expressed satisfaction with the organizational structure of the convention.”

“I am happy to congratulate our party on behalf of all our members in diaspora. As Nigerians are suffering from all forms of malaise linked to the apparent incompetence of the ruling All Progressives’ Congress (APC), it gladdens my heart to see our party opting for a humane platform and policy items that will eventually translate into a better livelihood for all Nigerians when PDP returns to power in 2023,” Hon. Pamugo said.

“All you need to do is look around and you will be disheartened by what Nigerians are going through from east to west, north to south. We are suffering through the COVID-19 pandemic.

There is corruption and misappropriation in Nigeria. There is poverty and hardship. Even the Nigerian youth, the supposed leaders of tomorrow, are left with unspeakable levels of unemployment and hopelessness.

There are no good roads, no healthcare system, no good educational system, no water, no electricity, no security, no food… All thanks to APC’s incompetence,” Hon. Pamugo said.

“Yet, when President Buhari is not busy taking up a fight with Twitter in order to divert attention from these important issues, he and APC are running around from country to country borrowing money from foreign sources and piling up huge debts on the shoulders of Nigeria’s youth ─ the same youth that APC has not cared to help through any form of social program, economic or fiscal policy. These incompetent APC leaders are mortgaging the future of our country.

We are looking forward to a change when PDP comes to power in 2023,” Hon. Pamugo said with full hopefulness that Nigeria will be better under a PDP administration.

“This year’s PDP convention leaves all of us hopeful that Nigeria will be better. But we the people need to vote APC out when the time comes. Once again, I want to congratulate our party and all the participants in this year’s convention,” she said.

Diasporans for PDP has a mandate to promote the civic and social welfare of all Nigerian peoples, to promote objective learning and literacy, patriotism, women, children and youth empowerment, and to promote opportunities for strong civic and political participation in Nigeria.

With members in America, Canada, Europe, Asia and Africa, Diasporans for PDP is head-quartered in Houston, Texas, USA. A key part of what the organisation is fighting for is for Nigerians living abroad to be able to vote in general elections, just like it is done in other countries such as the United States and Canada.

October 30, 2021 0 comments

Newer Posts

Older Posts