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NDPHC decries non payment of over N190bn electricity generation invoice

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NDPHC decries non payment of over N190bn electricity generation invoice

The Niger Delta Power Holding Company of Nigeria (NDPHC) has raised concern over more than N190 billion being owed the company for electricity generated.

Mr Chiedu Ugbo, Managing Director of NDPHC made the disclosure at an investigative hearing, organised by the Senate Committee on Power.

‘The overarching challenge for NDPHC is the low market remittance leading to
huge indebtedness to NDPHC.

“As at May 31, over N190billion was
owed to NDPHC for electricity generated from our power pls to the National Grid.

“The breakdown of the indebtedness is as follows:

Legacy debt period: 2011 – 2013 N24,488,365,072.
Interim Rule Period: 2013 – 2015 N6,796,473,564.
TEM (NBET) : 201sl5 – 2020 N281,101,92,728.
SUB-xxxszzalssl zTOTAL N312,386.741.364.

“less payment to gas suppliers: N119,393.845,935.

“This amounted to a total of N192,992,895,429 owed NDLHC.”

Ugbo also listed regulatory issues affecting the NDPHC to include the provision of low tariff to its generating stations compared with other thermal stations in the country.

“NDPHC’s tariff is fixed at N18.4
per KWh as against N24 per KWh for by other Independent Power Plants(IPPs).

On gas suppliers to the company,he said :

“Gas was paid for at N306 to one dollars whereas the
market rate is at N360 to one dollars.”

According to him, the difference has been the cause for dispute with
indigenous gas suppliers.
He said the company records low revenue generation due to poor dispatch of electricity generated and low remittance from the electricity market .

On transmission constraints, Ugbo said :

“NDPHCs available capacity is over 3,000MW but is dispatched at 800MW and below by the System Operator(SO) because of load rejection by Distribution Companies (Discos.)

According to him, inadequate dispatch of power generated grossly affects NDPHC revenue generation capacity.
He, however, noted that the issues described presents new challenges and immediate opportunities
for growth.

“At NDPHC, we recognize the strong potentials for growth with increasing
need for added investments in the power sector to spurn and sustain this
potential.
“Having played a pivotal role in the current increase in installed capacity of
close to 13GW in the last 10 years.
“NDPHC will continue as part of its
medium-to long-term vision, to play a role in end-to-end infrastructure
development in the sector.”

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Group Promises Affordable Mass Housing For Ubarn Poor

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Group Promises Affordable Mass Housing For Ubarn Poor

Association for the Support of Urban Poor (FEDUP) has promised to deliver affordable housing for its members.
A new board was constituted after the last management was accused of embezzling over N200m for which the matter is in court.

Secretary of the association Mr. Yusuf Edego said the association is building confidence and credibility after the mismanagement that affected its clients.

He stated this yesterday in Abuja during a press briefing to let the public know the association’s effort in giving the group a new image.

Edego said with what the new management team has put on ground they believe their members and the general public will have confidence in the new team to deliver affordable housing for them.

“By a persons impact, performance, character and sincerity as well as walking the talk, with time people will see that the project is a reality”

He said the major problem as a people is lack of sincerity and that once people see that a person is sincere they will trust him to deliver.

“The major problem bedevilling the country is integrity. Many people especially in property development, more than 60% collect money from people and the public generally yet there is nothing on ground to show for it.
“That is why we removed the former executive members and then came up with elected people of integrity.
“Our chairman is a paramount ruler of impeccable integrity. I am a legal practitioner I have my law firm at Jennifer plaza Central area.
“So you have people with verifiable address. We are people that people can enquire and link up with our character.  “They know that for our records we are people of integrity and we are sure that by God’s grace they will not be disappointed”

On how he thinks people will have confidence in the association after the dent on its integrity he said it is the reason for the press conference. “Before we came we have one or two projects on ground that are verifiable that has been executed by the new executive.
“We have acquired twelve hectares at Kurudu that you can verify which you can buy and build your own house.
“Also the public can go to FCDA at the SDD department and meet the director that FEDUP claim they are in partnership with them to build about 167 housing units at Kuje.
“They are verifiable. Then the issue of 30 hectares we just acquired is still in process.
“We have the Family homes Fund which is an agency established by the Federal Government for provision of Social Houses for Nigerians so we are partnering with them by the grace of God they have agreed to sponsor the 30 hectares for the general Public

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African economic congress opens portal to select credible entrepreneurs

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African economic congress opens portal to select credible entrepreneurs

The African Economic Congress (AEC) has opened a portal to select credible entrepreneurs through its African Startup Challenge.

Mrs Nancy Illoh-Nnaji, Chief Executive Officer of the congress made this known in a statement in Abuja on Thursday.

Illoh-Nnaji explained that African Start-up Challenge was an entrepreneurship sustenance body of the Economic Congress tasked with discussing business development issues relating to
startups and small enterprises.

She said the start-up was introduced to build jobs and boost livelihoods in Africa and it also sought to infuse a culture of creativity and foster innovations.

According to her, the expected outcome
of the competition is to select winning ideas that can lead to new products,
programmes, projects and processes.

She added that this development would also help to engage young entrepreneurs eager to tackle the challenges they faced as well as global challenges through “smart solutions” that transform the economy of Africa and the world.

She said the annual competition would highlight Innovation, Technology and Originality in African Entrepreneurs.

The AEC boss noted that application had opened on October 4, and would close Oct 21, urging interested applicants to draft a short summary of startup ideas,
detailing plans on profitability and apply through startup@aecongress.org.

Meanwhile, Illoh-Nnaji disclosed that
more than 1,000 participants from all over Africa would be at African Economic Congress (AEC) from November 2 to 4 which would be held through televised virtual congress.

It will be recalled that, AEC held its maiden congress in 2019 in Abuja, Nigeria with participants drawn across the Africa continent. (NAN)

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Buhari reviews fertilizer price downwards

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Buhari reviews fertilizer price downwards

The price of fertiliser has been reviewed downwards from N5,500 to N5,000 per bag as ordered by President muhammadu Buhari.

This is inline with the Buhari administration policy of encouraging the populace to return to the farms.

The Food Security Council made the disclosure while briefing reporters at the end of the body’s meeting presided over by the Chief of Staff to the President, Prof. Ibrahim Gambari, yesterday in Abuja.
Vice Chairman of the council and Kebbi State Governor, Atiku Bagudu,
said the decision followed nomaliasation of production of the commodity since the reopening of Indorama plant in Rivers State shut after the COVID-19 pandemic claimed some lives.
Governor Abubakar Badaru of Jigawa State, who represents the North West in the council, said the council observed that the bulk purchase for palliatives was one of the factors that trigged increase in prices of foods nationwide.
He therefore, expressed confidence that the situation would normalise after the harvest season.

Badaru made the observation while addressing the media alongside his Plateau counterpart and representative of North central, Simon Lalong, the Jigawa chief executive said the trio of Coalition Against Covid-19 (CACOVID), federal and state governments were involved in the mass buying as part of measures to mitigate the adverse effects of the disease.

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