Connect with us

News

Gov. Mbah signs Electricity Bill into Law

Published

on

Gov Mbah displays the Bill after signing it into Law
Spread the love

…Says Bill lays foundation for Enugu’s economic growth

The Governor of Enugu State, Dr. Peter Mbah, Friday, signed into law, the Enugu State Electricity Bill, describing it as a major step towards economic growth and making the state the premier destination for investment, business, tourism, and living.

Speaking at the event, which took place at the Government House Enugu, Mbah said the quest by his administration to build Enugu State’s economy from $4.4 billion to $30 billion would translate to a pipe dream without adequate and stable power supply, hence the need for the Electricity Law, which Bill was transmitted to the House of Assembly about a fortnight ago.

He equally commended the leadership and Members of the House of Assembly for the expeditious passage of the Bill and for their partnership with the government across party lines for the good of Enugu State.

“As you know, following the Constitutional Amendment and the Electricity Act of 2023, electricity is now on the concurrent list. This will now enable us to play in all the value chain of the electricity industry.

“So, Enugu State has spared no time in making sure that we create our own electricity market. That is the crux of this law.

“We are now able to play in the generation, transmission, and distribution segments of the electricity market.

“We are also, through our regulatory commission, which this Law has given us power to create, going to be able to regulate the activities of these players – the generation, transmission, and distribution companies that will flow from it.

SEE ALSO:  Economic Crisis: Huge job losses as 16 multinationals exit Nigeria

“So, this is a significant and very important Law towards the achievement of the Enugu of our dreams because the development and growth of Enugu will all be predicated on the platter that this law has created. You cannot talk about industry or private sector investment if you don’t have electricity or power.

Advertisement

“Enugu, under our administration, is designed and indeed prepared to be the premier destination for investment and this law is part of the enablers.

“Therefore, we thank Members of the Enugu State House of Assembly for the expeditious way they treated this Bill, which has become Law today by this assent”, the governor stated.

The signing was witnessed by the Speaker of the Enugu State House of Assembly, Hon. Uchenna Ugwu, represented by the Deputy Speaker, Hon. Ezenta Ezeani; the Attorney-General and Commissioner for Justice, Dr. Kinsley Udeh; the Secretary to the State Government, Prof. Chidiebere Onyia, among other state functionaries.

Advertisements
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Peter Obi should be held responsible for anarchy arising from August 1 hunger protest – Presidency

Published

on

Bayo Onanuga
Spread the love

Bayo Onanuga, a senior to President Bola Tinubu, has alleged that supporters Mr Peter Obi, former presidential candidate of the Labour Party, LP, are planning mayhem in Nigeria.

Onanuga claimed that the proposed nationwide protests were being planned by Obi’s supporters, whom he described as failed presidential candidate.

According to him, Obi should be held responsible for whatever crisis that would emanate from the action.

In a post on his X handle on Saturday, Onanuga said the proposed protest planners are also the same people who were instigated by the incarcerated IPOB leader, Nnamdi Kanu to launch the destructive ENDSARS protest in Nigeria in October 2020.

He wrote: “REVEALED: Peter Obi’s supporters are the people planning mayhem in Nigeria: Obi should be held responsible for anarchy

“Don’t be fooled: the malcontents planning to stage nationwide protests are supporters of Peter Obi, the failed presidential candidate of the Labour Party. And he should be held responsible for whatever crisis emanates from the action.

“The protest planners are also the same people who were instigated by IPOB leader Nnamdi Kanu to launch the destructive ENDSARS protest in Nigeria in October 2020. ENDSARS began as a genuine protest by youths against the Police Special Anti-Robbery Squad, notorious for its high-handedness. IPOB members planning to extricate the South East region from Nigeria infiltrated the protest and hijacked it for their own agenda. Lagos still bears the scar of the malicious destruction by IPOB elements until today.

“Two years after ENDSARS, the IPOB and the gullible innocents joined the Labour Party in 2022 to support Peter Obi, a sympathiser of their cause.

Advertisement

They are the people spreading the hashtags ‘EndBadGovernance’, ‘Tinubu Must Go,’ and ‘Revolution2024’. They are not democrats but anarchists. They are attempting to call out our people via propaganda because their Messiah, Peter Obi, failed to win the Presidency in the 2023 election. As bad losers, they don’t have the patience to wait for another election in 2027; they would rather destabilise Nigeria by staging a civilian coup against President Bola Ahmed Tinubu.

Advertisements
SEE ALSO:  Rangers Crowned 2023/24 NPFL Champions
Continue Reading

News

Two brothers drown in FCT River

Published

on

Two brothers drown in FCT River
•The river behind the village
Spread the love
Two brothers, Joshua and Samson, have drowned in a river in Robukya community in Kwali Ward in Kuje Area Council of the FCT.

A relation of the deceased, Musa Abednego, who confirmed the incident to our reporter on Thursday, said it happened on Tuesday around 9am while they were crossing the river.

He said the brothers, Joshua and Samson, were between the ages of nine and 12 and that they were on their way to the farm when the incident happened.

He explained that the victims got drowned following a heavy rainfall which made the river to overflow.

He said, “Their father asked them to hold on after the rain subsided. Unfortunately, they left home to the farm without him knowing.”

Abednego said their corpses were recovered on Wednesday around 4pm through the help of some fishermen, adding they had been buried.

The spokeswoman of the FCT Police Command, SP Josephine Adeh, was yet to speak on the incident.                                              Daily Trust

Advertisements
SEE ALSO:  EFCC launches probe as operative commits suicide in Abuja
Continue Reading

News

CBN intervenes in foreign exchange market

Published

on

CBN intervenes in foreign exchange market
Central Bank of Nigeria
Spread the love
The Central Bank of Nigeria (CBN) has started selling foreign exchange on a regular basis through Authorised Dealer Banks and licensed Bureaux De Change (BDCs) as a response to the current fluctuations in the foreign exchange market.

These fluctuations are primarily caused by the demand pressure coming from corporate entities and the seasonal increase typical during the summer period.

By implementing regular sales of foreign exchange, the CBN aims to stabilise the market and ensure smoother transactions for both businesses and individuals involved in foreign exchange activities.

Director, Financial Markets Department of the CBN Dr Omolara Omotunde Duke in a statement on Friday night assured the public of the bank’s commitment to address the demand pressure and stabilize the foreign exchange market.

Highlighting recent transactions, the CBN disclosed that it sold a total sum of US$106,500,000.00 to 29 authorized dealer banks on Thursday, July 18 and Friday, July 19, 2024.

These transactions took place within an exchange rate range of N1,498.00/US$1 to N1,530.00/US$1. Additionally, the CBN purchased US$9,500,000 (Nine Million and Five Hundred Thousand Dollars) from four authorized dealer banks at rates between N1,510.00/US$1 and N1,550.00/US$1. All these transactions are marked for settlement on July 19, 2024.

The Central Bank also stated its commitment to closely monitor compliance with existing trading rules and regulations by authorized dealer banks. This is seen as an effort to promote ethical conduct and ensure stability in the foreign exchange market.

The general public was also advised to direct their foreign exchange demands to their respective banks and BDC operators, adhering to prevailing market regulations.

SEE ALSO:  Armed robbery suspect falls into well after raiding students hostels

With the regular sale of foreign exchange and ongoing monitoring of trading practices, the CBN aims to meet demand pressure, foster stability, and sustain a well-functioning foreign exchange market.

Advertisement
Advertisements
Continue Reading

Trending