Connect with us

Latest News

Senate Declares Power Sector Privatization A Failure, Initiates Investigation

Published

on

The Senate has launched an investigation into the operations of Generation Companies (GenCos), the Transmission Company of Nigeria (TCN), and Distribution Companies (DisCos), citing their failure to provide reliable electricity. Lawmakers criticized the privatization of the power sector since 2013, labeling it a “total failure” and asserting that these entities have failed to contribute any substantial value.....KINDLY READ THE FULL STORY HERE▶

Chaired by Senator Enyinnaya Abaribe, the Senate Committee on Power has been tasked with a thorough inquiry. The committee aims to identify problems within the sector, propose measures to potentially reverse the privatization, and explore the possibility of declaring a state of emergency, with findings expected to be presented in six weeks.

Frustration Expressed by Senate President

Senate President Godswill Akpabio voiced his dissatisfaction with the power sector operators, accusing them of exacerbating Nigeria’s electricity issues. “They have added no value at all,” he lamented, criticizing the trend of communities and state governments providing transformers that DisCos then take over without necessary investments.

Akpabio questioned, “Why do state governors and communities purchase transformers, hand them over to DisCos, and still pay for installation?” He added, “The individuals who took over the power sector are simply profiting from these transformers without delivering any real value.”

DIG Alabi Urges Police Officers: Policing Is Not A Tea Party

He continued, questioning the rationale behind handing over GenCos when the TCN is unable to transmit the power they produce and why DisCos are not investing in needed infrastructure. “We can amend laws and ask the Federal Government to reclaim these assets from them,” Akpabio stated.

Critique of Privatization

Senator Abaribe highlighted the frequent collapses of the national grid, attributing them to aging infrastructure, neglected projects, regulatory shortcomings, and a lack of modern monitoring systems. Notably, he reported that the national grid has collapsed 105 times in the last decade, costing Nigeria approximately ₦42 billion in restart expenses for key power plants, including Azura, Delta, and Shiroro.

Abaribe stressed the urgent need for modernizing Nigeria’s outdated 50-year-old grid to meet contemporary demands. He pointed out that the costs associated with restarting plants after shutdowns are significantly higher than simply running them, indicating a deeper inefficiency.

“Aging infrastructure is a major contributor to frequent grid failures. Many grid components are outdated and have not received the necessary maintenance, making them more susceptible to breakdowns,” Abaribe elaborated.

Demands for Reform

Senator Adams Oshiomhole condemned the privatization policy as flawed and exploitative, emphasizing that DisCos profit while Nigerians endure suffering. He shared a personal story of paying for and installing a transformer that ultimately became the property of the Abuja Electricity Distribution Company (AEDC). “DisCos are focused on profit while leaving our citizens in distress. It’s shocking that a private entity can charge for services not provided, leaving Nigerians powerless,” Oshiomhole remarked.

NHRC Raises Alarm Over Road Accident Deaths Surpassing Gun Violence In Nigeria

He called for a reassessment of the privatization policy within the framework of the administration’s “Renewed Hope Agenda.” Senator Abdul Ningi echoed the need for accountability, arguing that the absence of penalties for failures in the sector perpetuates inefficiencies. “Without consequences, the issues will persist. Reports alone won’t drive real change,” Ningi stated.

Ultimately, the Senate postponed approval of the committee’s report, allowing an additional six weeks for further investigation and actionable recommendations.

For More InformatioFn And News Update, Join Nivonews Whatsapp Channel With Link Below: https://whatsapp.com/channel/0029VaV4jB6DuMRgwqnJCF32 For advertisement inquiries only, kindly send a mFor essage to 0901064981For 4 on WhatsAppn December 2 that the VAT sharing model in the proposed reforms would unfairly benefit Lagos and Rivers states.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Advertisement

latest

Kwara PDP Protests As Govt Moves To Reopen Robbery Case Against Saraki, Others.

Published

on

The Peoples Democratic Party (PDP) in Kwara State has strongly opposed reported moves by the state government to revisit the alleged Offa robbery case involving former Governor Abubakar Bukola Saraki and others.....KINDLY READ THE FULL STORY HERE▶

reports that the party made its position known during an emergency press conference in Ilorin on Friday, describing the development as politically motivated and unjust.

PDP spokesman, Comrade Olushola Adewara, said the alleged plan to reopen the case amounts to an attempt to politicise a matter that has already been concluded by the courts.

Emir of Ilorin Urges Politicians to Be Honest with Electorate

He alleged that the move was targeted at dragging Saraki into a case in which, according to him, legal authorities had previously found no evidence linking him to the incident.

Adewara referenced earlier legal opinions from the Office of the Attorney General of the Federation, which reportedly stated that Saraki was not connected to the robbery case.

The party insisted that suspects in the case had already been prosecuted and convicted, with judgments upheld at appellate levels, while the matter is currently before the Supreme Court.

Tinubu Dismisses BPP DG Mamman Ahmadu

PDP urged Governor Abdulrahman Abdulrazaq to focus on governance rather than what it described as attempts to revive old political narratives.

It also called on security agencies to monitor the situation closely, warning that such actions could heighten political tension in the state.

The party further appealed to residents, especially families of victims in Offa, not to allow their pain to be used for political purposes.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

latest

2027: Oyo APC Senator Alli Declares Governorship Ambition.

Published

on

Senator representing Oyo South, Sharafadeen Alli, has declared his intention to contest the Oyo State governorship election ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

reports that Alli, who serves under the All Progressives Congress (APC), made the declaration on Friday during a formal event held at the Police Field in Yemetu, Ibadan North Local Government Area.

The APC chieftain and Ekaarun Balogun of Ibadanland said he will be running on the platform of his party.

Kano APC Declares Full Support For Tinubu As Sole 2027 Presidential Candidate.

The event attracted thousands of APC leaders, stakeholders, and members, including top political figures such as Senator Yunus Akintunde, House of Representatives members Akin Alabi, Aderemi Oseni, Akeem Adeyemi, Olafisoye Akinmoyede, Tajudeen Abisodun, and Senator Hamzat Adeseun.

Also in attendance were former Deputy Governor Iyiola Oladokun, Asiwaju Yemi Aderibigbe, and Alhaji Fatai Ibikunle, among others.

Alli said his decision followed wide consultations with stakeholders and was driven by his desire to advance the development of Oyo State.

Everyone Was Getting Married But Me" – M.I. Abaga Reveals Emotional Struggle with Loneliness

He noted his past political experience, including serving as Chairman of Ibadan North Local Government and Secretary to the Oyo State Government under Senator Rasidi Ladoja, as well as his current role in the Senate, where he said he has consistently advocated for his constituents.

According to him, his ambition is focused on delivering better governance and moving the state forward.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

latest

Showunmi Declares For Ogun 2027 Governorship, Seeks IPAC Support.

Published

on

A PDP chieftain and convener of The Alternative, Otunba Segun Showunmi, has declared his intention to contest the 2027 Ogun State governorship election.....KINDLY READ THE FULL STORY HERE▶

reports that Showunmi made the announcement during a courtesy visit to the Inter-Party Advisory Council (IPAC) secretariat in Abeokuta on Friday.

He called for a broad political coalition involving opposition parties and grassroots groups to challenge what he described as the failures of dominant political forces in the state.

Showunmi argued that political parties may choose or endorse candidates, but insisted such arrangements must not deny voters a genuine electoral choice.

Chaos At Trump Rally: Former President Shot, FBI Investigates Unknown Motive!

He said: “I will be running for governor in the 2027 governorship election. I have come to plead with you to set up a small committee… to determine how we can collaborate to make this happen.”

He also questioned whether Ogun State would experience a “coronation” or a competitive election process, urging stakeholders to allow open political contest.

The PDP chieftain noted that Ogun West’s long-standing exclusion from producing a governor is a legitimate grievance, but stressed that aspirations must still be tested through competition.

NHRC Raises Alarm Over Road Accident Deaths Surpassing Gun Violence In Nigeria

He advocated issue-based campaigns ahead of 2027, rejecting “money politics” and challenging aspirants to public debates on governance.

Showunmi maintained that he has no history of violence or political thuggery, insisting the election should be centred on ideas and development plans for the state.

In response, IPAC leadership and other political actors at the event called for collaboration and careful selection of leaders ahead of the 2027 elections.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

Trending

Copyright © 2023 NIVONEWS

×