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Lagos unveils electricity policy for reliable, affordable energy

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Electricity lines
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Lagos State Government on Wednesday, unveiled the ”Lagos State Electricity Policy”, geared at providing cleaner, reliable, affordable and uninterrupted power supply to residents.

Speaking at  the unveiling of the policy, organised by the Ministry of Energy and Mineral Resources, Lagos State Governor, Mr Babajide Sanwo-Olu, said that what residents wanted was regular power supply.

Sanwo-Olu said the electricity policy articulated constitutional, legal, engineering and commercial foundations for creating a viable sub-national electricity system that would cater for energy needs of the state.

He said that such viable sub-national electricity system would enable socio-economic growth for Lagos and the nation at large.

According to him, the state moved to explore alternative energy supply channels, in response to growing demand, occasioned by population growth and emergence of new residential and industrial areas.

“Energy requirement that will keep Lagos economy on the path of growth, has far exceeded the current 1,000 megawatts being supplied from the national grid, necessitating the move to explore alternative sources.

“Given Lagos state’s status as the commercial nerve-centre and economic hub of Nigeria, it is our firm belief that the attainment of universal electricity access in the state will  accelerate the same across other parts of the country.

“There will be no economic development without sustainable energy. The economy needs energy to run, and our objective as a government is to deliver sustainable, reliable and affordable electricity to all residents.

“The electricity policy being unveiled today do not only articulate the problems in the sector, it is also futuristic in the implementation of its provisions,” he said.

Sanwo-Olu said the state would ramp up procurement of pre-paid meters for distribution to residents, as part of the implementation of the electricity policy.

He said that this would promote transparency in the supply chain, while curbing electricity theft and discouraging estimated billing from the suppliers.

The governor said the objectives of the electricity policy would only be realisable if the private partners showed equal commitment as the government, to boost capacity in off-grid generation and distribution network.

“As a government, we believe one person cannot do it all. We need ideas and knowledge from each other, and form real partnership for coordination in the implementation of this framework.

”We must continue to ensure profitable partnerships to push investments, be audacious and accountable,” he said.

In his welcome address, the Commissioner for Energy and Mineral Resources, Mr Olalere Odusote said the government was committed to improving electricity supply in the state.

Odusote said the electricity policy would define and describe the short, mid and long term requirements, toward ensuring universal, clean, affordable and interrupted power supply to residents.

He said that one of the important roles of the policy was that it would help to establish and boost the Lagos Electricity Market (LEM).

The commissioner said the electricity policy, apart from clearing out constitutional and legal framework for investors’ assurance, also provided for the establishment of an autonomous regulatory body and independent system operator.

He said that Lagos government would hinge its partnership with the industry players, on well-funded and well-managed generation, transmission and distribution.

 

(NAN

 

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Economic: Osinkolu Assures Nigerians Of Better Days Ahead 

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Dr Olusegun Osinkolu
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A financial expert, Dr Olusegun Osinkolu has appealed to Nigerians to exercise patients with the economic team put together by President Bola Tinubu, noting that relief will soon come.

Osinkolu assured that Nigeria will soon witness a great turn around by the time the economic team swings into full action.

“we will heave a sign of relief soon as the story would change for better”.

The Ayede-Ekiti born All Progressives Congress (APC) Chieftain in a statement issued on Friday and released to newsmen, described the appointments of the Central Bank of Nigeria Governor, Yemi Cardoso and Minister of Finance, Wale Edun as a round peg in a round hole.

Osinkolu, who was a banker of repute, described them as gentlemen and men of integrity, who are masters on their field of appointments.

He commended President Bola Tinubu for the appointments, describing it as well deserved and has raised the bar and shown that competence is the parameter for public service.

“I want to formally thank President Bola Tinubu for considering the duo of the CBN Governor and Finance Minister for their appointment.

I commend his open-mindedness to embrace and usher in vibrant patriots into the national mainstream politics.

“I wish to state that their appointment is not only well deserving, but also falls in line with Mr. President’s penchant for talent discovery that has characterised his bold and giant strides in Lagos state and the nation at large.

“I affirm that this particular appointment is a round peg in a round hole,”he stated.

He urged the duo of the CBN Governor and finance minister to focus on the vision and mission of Mr President, by refocusing through their short, medium and long term measures.

He assured Nigerians that the CBN and it’s Finance ministry under their watch will operate transparent monetary policies, while his administration will not tolerate and work towards correcting the errors made by past administrations.

He further urged the duo to comply with all constitutional duties and ensure that financial policies of the country are of international standard and in support of the Tinubu-led administration.

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Senator Natasha lauds NDDC, NLNG partnership on local content

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Senator Natasha Akpoti-Uduaghan
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Senator Natasha Akpoti-Uduaghan, lawmaker representing Kogi Central senatorial district has commended the pact between Niger Delta Development Commission (NDDC) and Nigeria LNG Limited (NLNG), to develop local content capacity.

Both NDDC and NLNG recently signed a Memorandum of Understanding (MoU) to leverage shared aspirations and collaborate on diverse fronts in the delivery of sustainable development projects in the region.

Reacting, Senator Natasha urged NDDC to consider the need to be the primary recruiters of their trained workforce to achieve effective service delivery.

She gave the charge on Thursday during an interactive session between Senate Committee on Local Content and the NDDC Managing Director, Samuel Ogbuku.

As the Chair, Local Content Committee, Natasha tasked the NDDC on the need to not only build capacity and equip their workforce but also engage them efficiently.

“NDDC should consider being the primary recruiters of their trained workforce. Artisans or skilled professionals such as ICT workers can be absorbed by NDDC contractors, which in turn, will enable the commission reach the most vulnerable and neglected youth,” she said.

She also pledged to partner with NDDC on building a database of artisans within the country to strengthen the workforce and by extension achieve microeconomic growth for Nigeria.

“Local Content Committee intends to deploy innovative thinking for positive results, thus, we are building a database of carefully profiled artisans who have been trained by NDDC, SMEDAN, etc.; and work modalities to have the oil & gas companies, as well as government contractors, recruit from the pool of verified workforce.

“This would help curb unemployment by keeping the jobs locally. Such a project would also help the Local content board, NDDC and other agencies monitor and evaluate the performance of our collective capacity-building efforts towards achieving a common microeconomic growth for Nigeria and Africa at large,” she added.

In his remarks, the NDDC MD accepted her proposal and looks forward to a synergy with the Local Content Committee to develop strategies, and in turn, engage trained workforce for employment opportunities.

 

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Update: 2024 Appropriation Bill Passes Second Reading At House Of Reps

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House of Rep in Session
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The House of Representatives has passed the N27.5 trillion 2024 budget for a second reading.

The House leader, Julius Ihonvbere, on Thursday, November 30, while leading the debate on the general principles of the budget, commended President Bola Tinubu.

Ihonvbere noted that national security and education which got significant allocations will be enhanced if implemented.

He said, “Nigeria will be more secure with the allocation to defence and security. As a teacher, I am impressed by the emphasis on basic education. I am sure that education will be better off this time.”

 

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