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Nigerians bought N16tn fuel, generators in 2023 – FG

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In 2023 alone Nigerians spent a total of N16.5 trillion to buy diesel, petrol and generators to get electricity, the Federal Government announced on Tuesday.

It also announced that the formal power sector, including electricity generation, transmission, and distribution companies, made a total revenue of N1tn last year amid the over N16tn spent by power consumers in the informal sector.

The Minister of Power, Adebayo Adelabu, who announced this at the ongoing 2024 Nigeria Oil and Gas conference in Abuja, however, noted that electricity consumers on Band A category now get up to 24 hours supply of power.

He said, “If you know how much our people spend buying diesel, petrol, generators, and servicing them in a year; the last study we had in 2023, a total of N16.5tn was spent on this in self (power) generation. Even a number of the industries are off the grid. They now have their captive power between their environments with gas-powered generators.

“So spendings in this sector out of the grid is close to N20tn. And let me blow your mind, the revenue for the entire industry, the grid, I mean the formal power sector was just N1tn for 2023 that goes to the generation companies, transmission company and the distribution companies. Just N1tn formal revenue. But the informal spendings on generators, diesel, petrol, was close to N20tn.

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“Even if it is just a quarter of that is put in the official power sector, we are talking about incremental revenue of N5tn that will bring the sector’s revenue to N6tn, sincerely we are going to have something close to uninterrupted 24/7 power supply in Nigeria,” Adelabu stated.

The minister said the government was currently working hard to earn the trust of power consumers, stressing that it would be better to spend on electricity provided by the national grid because it is cheaper than spending on diesel or petrol-powered generators.

“That is what we are working on to ensure that that trust is back,that confidence is back. And all the manufacturing companies that are doing self-generation can cut it off and reconnect to the national grid because it is the cheapest source.

“As at the last study, Band A customers are enjoying uninterrupted supply and pay N206. For the companies that have their captive power using gas, they pay about N290/kwh.

“For those that are using petrol generators, it is about N450 per kilowatt-hour. And for those using diesel to power their generators, it is upward of N900. So it is still the cheapest, most efficient and the least cost for our productive activities,” the minister stated.

Meanwhile, Adelabu told delegates at the conference that the power sector in Nigeria consumes the largest share of the country’s domestic gas supply.

“I am here to advocate for increased investment in Nigeria’s gas development to unlock the full potential of our power sector and achieve the Nigeria Energy Transition Plan. The domestic gas-power market accounts for 60 per cent (approx. 700mmscf daily) of the total domestic gas supply. This gas quantity currently sustains Nigeria’s four gigawatts average grid generation capacity.

“In line with the Nigeria Energy Transition Plan vision 30:30, which seeks to achieve 30GW by the year 2030, our energy mix is projected to be 70 per cent (or 21GW) thermal source (most likely gas considering the country’s gas potential) and 30 per cent (or 9GW) renewable source.

“The power sector would require over five times what the industry currently utilises from the domestic gas market to achieve our 70 per cent thermal energy target with gas-powered generation. Additional investments would be needed to increase the country’s gas production to achieve this level of gas supply to the power sector without compromising the export obligations,” Adelabu stated.

To this end, the minister called on the investors at the conference to strongly consider investments in the further development of gas production in the country, especially Nigeria’s abundant unexploited non-associated gas reserves.

“To briefly spotlight the Federal Government’s recognition of the need for adequate liquidity in the Nigerian power sector to catalyse the much-needed investments across the value chain, the government recently introduced a cost-reflective tariff for the sector’s most served grid-tied customer segment.

“In addition, presidential approval was granted to resolve the power sector obligations to defray legacy debts to generation and gas companies. These actions speak to the government’s commitment to allowing efficient gas supply for the Nigerian power sector and ensuring there’s a clear line of sight for investors to recoup their investments in the country,” he stated.

The minister said he was confident that the Federal Government was committed to ensuring a viable and bankable power sector, and “we are convinced that the industry is investment-ready.” (PUNCH)

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Obi donates ₦10m to Faith Foundation Nursing College, urges Youths to reject ethnic politics

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Mr. Peter Obi (right) presenting the ₦10 million cheque to the Proprietor of Faith Foundation College of Nursing Sciences, Rt. Rev. Dr. Aloysius Agbo (left), during his visit to inspect ongoing projects at the institution in Nsukka.
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The presidential candidate of the Nigeria Democratic Congress( NDC) in the 2027 elections, Mr Peter Obi, yesterday visited the Faith Foundation College of Nursing Sciences, Nsukka, where he expressed delight at the progress of projects underway at the institution.

Obi, who inspected some of the ongoing projects, was received by the Proprietor of the College, Rt. Rev. Dr. Aloysius Agbo, who expressed appreciation for Obi’s longstanding support for the institution.

Agbo disclosed that Obi’s earlier financial contributions had played a significant role in giving the institution the confidence to embark on many of the projects currently under construction.

The Proprietor said the support had encouraged the management to continue investing in the development of the institution and its facilities.

In continuation of his support for the institution, Obi presented a cheque of ₦10 million towards the ongoing projects.

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He also assured the management that he would continue to partner with the institution until it realises its objective of producing its first set of nurses.

Obi said his intervention was part of his broader commitment to supporting education and healthcare, particularly the training of quality healthcare professionals who would contribute to strengthening Nigeria’s healthcare system.

He thereafter proceeded to St. Paul’s Anglican Cathedral, Nsukka, where he participated in the 68th Annual Conference of Anglican Youths.

Addressing the youths, Obi urged them to recognise their responsibility in building a new Nigeria, stressing that the country they desire cannot emerge without their active participation in shaping its future.

He urged them to reject politics based on tribe, religion or language and instead insist on electing leaders with proven character, competence, capacity, integrity and strong ethical values.

According to him, the future of Nigeria depends not only on the leaders the country produces but also on the standards citizens demand from those who seek public office.

“Our future depends not only on the leaders we produce but also on the standards we demand. Together, we can build the New Nigeria that is possible,” he said.

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Gunmen invade Kogi communities, kill residents

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Bandits kill over 30 in fresh attack on Benue
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Several people were feared killed on Thursday when armed men reportedly attacked three communities in Kupa Kingdom — Abugi, Kuchinda and Mikugi — in Lokoja Local Government Area of Kogi State in an alleged reprisal attack.

Residents said the incident began around 8am when a herder, suspected of being a cattle rustler, was shot and killed during a heated altercation with local vigilantes at a checkpoint in the community.

“Few hours after the checkpoint incident between a herder and vigilantes, armed hoodlums invaded the town, shooting sporadically from different directions.

“In the process, several residents were killed, with many others sustaining injuries, as the armed hoodlums attacked streets, markets and even the palace of our paramount traditional ruler in the town.

“As of yesterday night, seven people were confirmed dead. The death toll may rise in the days ahead as the search for and confirmation of victims is still in progress.

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“Moreover, the situation will become clearer when families who sought refuge in safer communities start returning from their various hiding places,” Ahmed, a resident of Abugi, said.

A son of the Mayaki of Kupa, Prince Aliyu Isah Kabir, who is the APC Youth Leader of Kupa South Ward, was confirmed to be among the victims of the attack.

The Lokoja Local Government Chairman, Comrade Abdullahi Adamu, confirmed the incident, saying the attack on the Kupa communities had led to loss of lives and destruction of property.

Adamu said: “We have charged the relevant security agencies to swing into action and arrest anyone who has a hand, directly or remotely, in the attack and bring them to face the law.

“The government is saddened by this devilish act and will leave no stone unturned in getting justice for the deceased. I want to appeal for calm while the relevant security agencies take action.”

The Kogi State Government also condemned the attack, describing it as tragic, senseless and unacceptable.

In a statement issued on Friday, the state government described the incident as a reprisal attack and vowed to investigate the circumstances surrounding it, identify those responsible and prosecute them as a deterrent to others.

In the statement signed by the Commissioner for Information and Communications, Kingsley Fanwo, the government said: “The Kogi State Government condemns in the strongest terms both the killing of the unarmed herder and the subsequent reprisal attack.

“These are criminal acts that have no place in our society. Anyone found to have participated in either incident, regardless of status or ethnic affiliation, will face the full weight of the law.

“We appeal to all residents to remain calm and resist the temptation of reprisals. We also urge members of the public to cooperate with security agencies by providing credible information that will aid ongoing investigations and the arrest of all those responsible.”

According to the statement, Governor Ahmed Usman Ododo sympathised with the families of the deceased and directed “security agencies to immediately restore calm, take control of the situation and apprehend those responsible for the killings.”

The government also appealed for calm, urging residents to avoid further retaliation and provide security agencies with credible information as investigations into the incident continue.

Meanwhile, the Kogi State Police Command was contacted over the development, but its spokesperson, ASP Saliu Oyiza Afusat, did not respond to calls and a text message as of the time of filing this report. (Daily Trust)

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PFIPC probe: ICPC uncovers two more fake agencies linked to Adeyemi

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Adeniyi Matthew Adeyemi
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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has uncovered two more fake agencies operated by the self‑styled Director‑General of the Presidential Foreign Intervention Promotion Council (PFIPC), Adeniyi Matthew Adeyemi.

ICPC Chairman Dr. Musa Adamu Aliyu, SAN, disclosed this while briefing State House correspondents after he submitted the commission’s interim report on the existence and operation of the fake agency at the Presidential Villa, Abuja.

Dr. Aliyu said the investigation revealed that Adeyemi was never appointed by the Federal Government and that the Presidential Foreign Investment Promotion Council was never established by law or executive order.

According to the interim report, the appointment letter presented by Adeyemi was forged, while the PFIPC illegally appropriated offices and instruments from the former Presidential Economic Advisory Council (PEAC).

He said the fake agency, using the former PEAC office, engaged in false representation, widespread impersonation and various illegal activities that exploited weaknesses in verification and inter‑agency oversight.

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He further stated that the investigation uncovered two additional fake government agencies: the FCT Investment Promotion Agency (PIFA) and the Foreign Investment Promotion Agency (PIPA).

“These agencies were created using forged legislative instruments and were used to open bank accounts for illegal activities,” he said.

The ICPC boss said Adeyemi changed the name of the fake agency from Foreign Investment Promotion Council to Foreign Intervention Promotion Council and attempted to expand its mandate to include revenue generation.

He said: “The investigation found no funds were approved or disbursed for the fake PFIPC/PEAC, and there were no weaknesses in the State House or CBN system.”

Some recommendations of the committee, which was given 30 days to unravel the mystery behind the existence of the fake agency, include prosecution of Mr. Adeyemi; imposing administrative sanctions on public officers who facilitated the illegal operations; and instituting reforms to improve internal controls

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The public officers who were said to be collaborators are from the Office of the Secretary to the Government of the Federation (SGF), the Head of the Civil Service of the Federation, the Accountant‑General’s Office, the Budget Office and the National Information Technology Development Agency, NITDA.

“The report is interim and the investigation continues to uncover more details to file criminal charges against Adeyemi and his collaborators,” he said.

Dr. Aliyu added that President Tinubu has taken note of the findings and has expressed his commitment to transparency and accountability in addressing the issue.

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