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The Federal Government has announced plans to promptly initiate the disbursement of N130 billion to settle outstanding gas supply debts within the Nigerian Electricity Supply Industry (NESI).

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The statement was made by the Minister of Power, Adebayo Adelabu, during the 2024 Eighth Africa Energy Marketplace held in Abuja on Thursday.

He said, “For the current debt, approval has been given for a cash payment of about N130 billion from the gas stabilisation fund which the Federal Ministry of Finance will pay.

“The payment for the legacy debt is actually going to be made but from future royalties and exchange of incomes in the gas sub-sector which is quite satisfactory to the gas supply companies.

The last figure was about 1.3 billion dollars and this payment, we believe, will go a long way to encourage these gas companies to enter into firm supply contracts with the power generating companies.”

“The day they cannot supply gas, there is no penalty but once there is a firm contract, they will be under contractual obligation to supply gas to these power generating companies so that we have a consistent power generation.”

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Lagos signs MoU with chinese firm for 68km rail project to connect VI, lekki, Ajah

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The Green Line will complement the existing metro infrastructure, including the Blue Line, which has been operational for a year on the Mile 2 to Marina route, and the Red Line, which is preparing for full passenger service later this year.


According to Sanwo-Olu, these metro lines are key components of Lagos’ Strategic Transport Master Plan, designed to build a faster, more efficient, and interconnected city.

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ICPC grills Ngige over alleged contract, job racketeering

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Chris Ngige
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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has questioned Chris Ngige, former Minister of Labour and Employment during President Muhammadu Buhari’s administration, over his alleged involvement in contract-related issues and job racketeering.

 

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Imo PDP condemns killings, says Gov Uzodinma not proactive

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The Peoples Democratic Party, PDP, in Imo State has condemned in strong terms the recent attacks by yet to be identified gunmen on the council headquarters of the Isiala Mbano LGA of the state where security guards were killed.

It also condemned the razing of Obowo LGA Divisional Police Headquarters, as well as the killing of a policeman in his house near NEPA junction in Umulogho community, also in the LGA.

In a press statement by its State publicity secretary, Lancelot Obiaku, he said, “Our party maintains that the continuous mindless attacks on public facilities and the killing of innocent citizens are unjustifiable and have no place in our culture and nationhood.

“We commiserate with the families and friends of the victims and, indeed, all Imolites who have been thrown into deep sorrow and anguish.”

Obiaku regretted that no mitigation was in place to checkmate the incessant attacks in the State, saying that the APC-led government of Hope Uzodinma should wake up to the occasion and stop being what it described as inactive and indifference to what is happening in the State.

The PDP publicity secretary further stated that the Governor has not been proactive in tackling the killings in the State, which he said had led to normalizing killings and arson, giving a leeway to attackers to have a field day in their operations, thereby turning the State into a theatre of war, bloodshed and sorrow.

“Amid this destruction and bloodbath, what we could hear from Gov. Uzodimma and Imo APC are stories of how they are having their secret primary elections as regards to the local government elections.

“Curiously, the same Governor, in a leaked video wherein he was addressing his APC lackeys over the said primary election in a closed-door meeting, claimed to be knowledgeable about everything happening in all the LGAs of the State,” he said.

Obiaku said that the governor “sits in an exalted position without doing anything and these attackers keep on snuffing lives out of innocent citizens”.

“To them, governance does not matter, lives can be lost, Imo can burn, and people can die of hunger for all they care,” he stated.

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