News
NCDMB boss warns against tinkering with the Petroleum Industry Act
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has advised that making unending changes to the structures set up by Petroleum Industry Act 2021 could kill the confidence of investors and stall new projects in the oil and gas sector.
Speaking on Tuesday at a panel session at the recently concluded Nigerian Economic Summit held in Abuja, the Executive Secretary explained that the PIA 2021 contains adequate provisions to ignite growth in the energy sector and advised the Federal Government and key stakeholders to avoid the temptation of tweaking the law at every turn.
He hinted that “policy somersaults kill the confidence of investors. Once a nation or economic sector is known for trial-and-error initiatives, it makes the investors adopt a wait-and-see attitude or move on to other entities.”
While acknowledging the need to seek areas of improvement, he cautioned that “it is injurious to the investment climate if we are in a perpetual state of policy modifications or amendment of laws that we are yet to even progress to full implementation.”
Wabote remarked that it took the Nigerian oil and gas industry almost two decades to pass the PIA, during which time many stakeholders of the industry blamed the lack of passage of the then Petroleum Industry Bill (PIB) as the reason for the lack of investment in the oil and gas industry.
He charged players of the industry to complete ongoing projects and deploy the provisions of the PIA to simulate the necessary growth in the energy sector.
Dwelling on ideas that would ignite the growth of the industry, the Executive Secretary recommended timely decisions on lingering issues on divestments, assignments and acquisitions, bid rounds, inter-agency collaborations, sanctity of contracts, and others.
He also canvassed for the speedy completion of the Dangote Refinery project and the delivery of products into the economy.
Speaking further, he listed the Presidential Power Initiative in partnership with Siemens and the rehabilitation of the Port Harcourt and Warri Refineries as ignition points for growth, stressing need to get them across the finish line.
“The construction of the 615km AKK Pipeline is an ignition point for growth, we need to keep at it till completion, otherwise, it remains a pipe dream,” he added.
The Executive Secretary also harped on the need to set Local Content practice as a National Agenda to address recurring dislocations in the economy. He recalled that Presidential Executive Order 003 requires that MDAs must give preference to made-in-Nigeria brands in eight products. He pointed out that the implementation has been abandoned in public procurement.
He insisted that the successes recorded in the practice of Nigerian Content in the oil and gas industry needed to be replicated and sustained across other sectors of our economy to promote local manufacturing and productivity.
News
Grid collapse: TCN restores power to 90% substations
The Transmission Company of Nigeria has said 90 per cent of its substations have received bulk power supply following efforts to recover the grid which suffered another collapse on Tuesday.
It said the ongoing restoration of the national grid which collapsed for the sixth time this year is ongoing and almost completed.
The Public Affairs General Manager of TCN, Ndidi Mbah said in a press statement that it has restored supply to Abuja.
On Monday, the grid collapsed at about 6:18 p.m., plunging many into darkness.
Checks by our correspondent confirmed that power generation dropped from 3.87 gigawatts at 5 p.m. to 3.56GW at 6 pm., and then to 0.00GW by 7 pm and 8 pm.
Reacting, electricity consumers in the Federal Capital Territory decried the incessant grid collapses, describing them as an embarrassment to the country.
But the transmission company in a reassuring message said the problem would be resolved soon.
The statement read, “The Transmission Company of Nigeria hereby states that the national grid experienced a partial disturbance, on Monday, 14th October 2024 at about 6:48 pm and notes that efforts to fully recover the grid are still ongoing.
“Although the recovery of the grid commenced immediately, with Azura power station providing the blackstart, grid recovery reached advanced stages at about 10.24 am, today when it encountered a challenge that caused a slight setback in the recovery process.
“The slight setback notwithstanding, TCN continued with the grid recovery process, which has reached an advanced stage, ensuring bulk power availability to about 90 per cent of its substations nationwide.
The statement added that supply has been restored to the Abuja axis and other major distribution load centres nationwide.
“Supply has been restored to the Abuja axis and other major distribution load centers nationwide.
“The partial disturbance did not affect the Ibom Gas generating station which was islanded from the grid yesterday and continued to supply areas in the South Southern part of the country such as Eket, Ekim, Uyo, and Itu 132kV transmission Substations during the period.
“Investigation into the cause of the incident will be carried out as soon as the grid is fully restored.”
News
FG predicts 5-day heavy downpour across 22 states, FCT
The Federal Government has issued a forecast of five days of heavy rainfall, which could lead to flooding in 22 states and the Federal Capital Territory (FCT), starting today, October 14, 2024, and ending on October 18, 2024.
The prediction was made by the National Flood Early Warning Systems Centre under the Federal Ministry of Environment in a statement released on Monday.
Communities living along the flood plains of Rivers Donga, Benue, and Ogun have been advised to evacuate immediately due to increasing water levels, which could lead to severe flooding.
Affected Areas.
The following states and their surroundings are predicted to experience rainfall that may result in flooding:
1. Osun State: Ede, Ile-Ife, Ilesa, Osogbo
2. Delta State: Escravos
3. Cross River State: Ikon
4. Taraba State: Donga, Ibi, Wukari, Bandawa, Beli, Bolleri, Dampar, Duchi, Garkowa, Gassol, Gungun Bodel, Kambari, Kwata Kanawa, Lau, Mayo Ranewo, Mutum Biyu, Ngaruwa, Serti, Yorro
5. Nasarawa State: Rukubi
6. Kebab State: Argungu, Birnin-Kebbi, Gwandu, Kalgo, Ribah, Sakaba, Yelwa
7. Gombe State: Bajoga
8. Katsina State: Bakori, Funtua
9. Borno State: Biu, Briyel
10. Kaduna State: Birnin-Gwari, Buruku, Kaduna, Jaji
11. Niger State: Bida, Kontagora, Lapai, Lavun, Magama, Mashegu, Mokwa, New Bussa, Rijau, Sarkin Pawa, Suleja, Wushishi
12. Yobe State: Dapchi
13. Adamawa State: Demsa, Farkumo, Ganye, Gbajili, Jimeta, Mayo-Belwa, Mubi, Natubi, Numan, Song, Shelleng, Wuro Bokki
14. Kogi State: Ibaji, Omala
15. Kwara State: Jebba, Kosubosu
16. 16. Bauchi State: Kari, Tafawa Balewa, Kirfi
17. Plateau State: Shendam
18. FCT: Kubwa, Gwagwalada, Bwari 19. Kano State: Sumaila
20. Oyo State: Kishi 21. Sokoto State: Silame
22. Zamfara State: Majara Advisory.
The government has urged residents in these areas to take precautionary measures and remain alert.
The forecast highlights the potential for flash floods, particularly in vulnerable communities.
Residents are encouraged to monitor updates from local authorities and evacuate if necessary.
The Ministry of Environment and disaster management agencies are collaborating with state governments to prepare for emergency responses.
News
Nigeria in darkness as national grid collapses again
The national electricity grid has collapsed again throwing the country into darkness.
The grid collapsed at about 6:18 pm on Monday, leaving Nigerians in darkness.
Reports said the power generation dropped from 3.87 gigawatts at 5 pm to 3.56GW at 6 pm and 0.00GW at 7 pm and 8 pm.
The Enugu Electricity Distribution Company confirmed the grid collapse in a statement on Monday evening.
The EEDC informed its customers “of a general system collapse that occurred at 18:48 hours today, 14th October 2024,” saying this has resulted in the loss of supply currently being experienced across the EEDC network.
“Consequently, due to this development, all our interface TCN stations are out of supply, and we are unable to provide services to our customers in Abia, Anambra, Ebonyi, Enugu, and Imo States.
“We are on standby awaiting detailed information of the collapse and restoration of supply from the National Control Centre (NCC), Osogbo,” the EEDC stated in the statement signed by the Head of Corporate Communications, Emeka Ezeh.
EEDC distributes power to the five South East states.
Also, the Abuja Disco confirmed the grid collapse in a statement Monday night.
“Dear Valued Customer, Please be informed that the power outage being experienced is due to a system failure from the national grid at 6:58 pm today, affecting the power supply to our franchise areas.
“Rest assured, we are working with the relevant stakeholders to restore power as soon as the grid is stabilised. Thank you for your understanding,” the company said.
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