All Posts in "Day: January 18, 2024"

AEDC,Others Sign Agreement To Deliver Regular Power Solution In Abuja

Mohammed Shosanya

Abuja Electricity Distribution Plc (AEDC),has signed a tripartite agreement with Daybreak Power Solutions Limited (Daybreak Power) and The Wood Factory Limited (Wood Factory), to pioneer the delivery of its first grid-connected and solar hybrid power solution for commercial and industrial customers in Nigeria.

The development follows the first interconnected mini-grid power solution for communities in Nigeria launched by AEDC and its strategic partners in Toto, Nasarawa State, in November 2023.

According to a statement on Thursday,under the historic agreement, AEDC will provide 18 hours of reliable electricity supply to Wood Factory (a top furniture manufacturer) while Daybreak Power will provide 6 hours of solar powered electricity to Wood Factory, both leveraging interconnected power facilities to deliver seamless electricity supply and great value to the customer.

This integrated power solution is expected to yield an estimated 44% reduction in energy costs and an impressive 76% annual decrease in carbon emissions for Wood Factory.

The unique value offering is in furtherance of AEDC’s transformational strategic objective of redefining customers’ experience by providing reliable electricity supply to both existing and new customers, including the unserved and underserved customers,the statement said.

Under the ongoing transformation of AEDC, the Management of the company is driving its repositioning as a clear leader amongst the power distribution companies (DisCos) in Nigeria.

The statement quoted the Managing Director and Chief Executive Officer of AEDC, Christopher Ezeafulukwe, as stating that “We are excited about the great opportunities that the transformation and turnaround of AEDC is giving us to serve our customers, both new and existing, in more delightful ways. This project is a product of our consistent questioning of the status quo in the resilient push of our conviction and belief in using diversified energy sources to serve our customers better, while closing the supply gap in our market.”

He further stated that having previously commissioned an integrated power solution to serve some unserved communities in our network, the current solution for which we signed the agreement today, is focused on serving industrials and commercials, thus repositioning AEDC to serve all bands of customers within its network better.

The two projects also confirm to the world, the readiness of AEDC to enter into complementary partnerships that will add great value to the Nigerian electricity market,he said.

AEDC has been in partnership with the Rocky Mountain Institute (RMI) through which the United States Trade and Development Agency (USTDA) provides funding for feasibility study grant and facilitating the optimization of energy supply through distributed solar energy and grid power.

Jasper Graf von Hardenberg, CEO of Daystar Power, expressed his excitement about the innovative interconnected solar installation, stating, “Working together with DisCos, we can provide reliable and affordable power to Nigerian businesses which will save on energy costs to reinvest in their operations. Our partnership with AEDC supports this position. It is just the beginning; we are looking forward to developing more hybrid solar projects for C&I customers in partnership with the likes of AEDC.”

Mohamed Akar, Director and General Manager of The Wood Factory, expressed his excitement about the transition from self-generated supply to the integrated power supply which AEDC and Daybreak offers, “We’re thrilled that we’ll soon be switching to a reliable integrated power solution to power our factory. For many years, we’ve operated on diesel generators, which is hardly sustainable or affordable. We believe that the future of our business has become brighter with this new partnership with AEDC and Daybreak.”

admin by — January 18, 2024 in Power 0
Ibadan Explosion:More Bodies Recovered From Rubbles,As Oyo Govt Creates Emergency Situation Room

Mohammed Shosanya

More bodies have been recoverd on Wednesday morning from the rubble of some of the buildings affected following the explosion that rocked Old Bodija area of Ibadan on Tuesday night.

One of the victims , a 25 year old boy identified as Bolaji was however brought out dead with his intestines shattered

Others have been taking to hospitals by medical personnels at the scene of the occurrence.

Thousands of sympathizers have besieged the scene of the incident in the early hour of Wednesday.

Security Operatives have cordon off the affected areas while officials of the Oyo State Emergency Management Agency(OYOSEMA), the Red Cross as well as the National Emergency Management Agency (NEMA) are on ground to render humanitarian services.

Meanwhile,the Oyo State government has set up an emergency situation room. to coordinate response of incident from the explosion that occurred on Tuesday night at Bodija Housing Axis of Ibadan metropolis.

The development was made known by the Chief Press Secretary to the state governor, Mr Sulaimon Olanrewaju.

According to a situation report on Bodija, Ibadan Incident by Mr Sulaimon Olanrewaju who also doubles as the Special Adviser to Governor Seyi Makinde on Media stated that: “The Oyo State Government has set up an Emergency Situation Room for the Bodija Incident led by Professor Temitope Alonge, to coordinate the ongoing response to the incident.

The report further stated that “Search and rescue efforts at the site of the incident continued overnight. Updates from the Emergency Situation Room will be publicised through official government accounts and media channels. The contact numbers for the Situation Room are 07049948057 and 08147672009.”

“Residents are advised to stay away from the site of the incident and call 615 free of charge for emergencies in Oyo State.”

admin by — January 18, 2024 in News 0
NCC Suspends Glo’s Disconnection From MTN For Three Weeks

Mohammed Shosanya

The Nigerian Communications Commission has suspended its planned barring of Glo subscribers from calling MTN lines for 21 days.

A statement on Thursday signed by Mr.Reuben Mouka, Director, Public Affairs, NCC, said the Commission is pleased to announce that the parties have now reached agreement to resolve all outstanding issues between them.

“For this reason, and in exercise of its regulatory powers in that regard, the Commission has put the phased disconnection on hold for a period of 21 (twenty-one) days from today, 17 January, 2024.

“Whilst the Commission expects MTN and Glo to resolve all outstanding issues within the 21-day period, the Commission insists that interconnect debts must be settled by all operating companies as a necessary component towards compliance with regulatory obligations of all licensees.

“It is obligatory that Mobile Network Operators (MNOs) and other licensees in the telecom industry keep to the terms and conditions of their licenses, especially as contained in their interconnection agreements.”

Recall that on January 8, 2024 the Nigerian Communications Commission published a Pre-Disconnection Notice informing subscribers of the approval granted to MTN Nigerian Communications Plc. (MTN) to commence the phased disconnection of Globacom Limited (Glo) with effect from January 18, 2024 due to long-standing interconnection debt dispute between the parties.

admin by — January 18, 2024 in Business 0
Customs FOU Zone C,Decorates Officers, Seizes N5.3bn Goods

Mohammed Shosanya

The Nigeria Customs Service, Federal Operations Unit FOU, Zone “C” Owerri,has decorated 46 newly promoted officers in the zone even as it also recorded seizures worth five billion, three hundred and fifty-one million, eight hundred and twenty six thousand, three hundred and ninety Naira (N5,351,826,390.00) only in total Duty Paid Value (DPV) in the 2023 fiscal year.

This was contained in a press release made available to our correspondent by the Zone’s public Relations Officer, Chief Superintendent of Customs (CSC) Jerry Attah Wednesday.

The breakdown of the promotion shows that three officers were promoted from the rank of Chief Superintendent of Customs (CSC) to the rank of Assistant Comptroller (AC); Five officers from Superintendent of Customs (SC) to Chief Superintendent of Customs (CSC) and Three officers from the rank of Deputy Superintendent of Customs (DSC) to SC.

Besides,two officers from Assistant Superintendent of Customs I (ASC I) to DSC; six from ASCII to ASC I; Seventeen from IC to ASCII ;eight from Assistant Inspector of Customs (AIC) to IC and one person from Customs Area I (CA I) to AIC.

Among those promoted were the Zone’s Public Relations Officer, Jerry Attah, who was promoted from Superintendent of Customs (SC) to Chief Superintendent of Customs (CSC).

The Zone “C” Comptroller, Kayode Kolade, while decorating the promoted officers, on Wednesday, described the seizures as a result of hard-work, resilience, dedication to duty and commitment of his men and officers.

Some of the items seized, he said, were pangolin scales, foreign parboiled rice, cannabis sativa (AKA Indian hemp), fake pharmaceutical products, tramadol, used vehicles, used tyres, used clothing and explosive raw materials among others.

Kolade stated that as a result of the interventions of his officers in checkmating the activities of fraudulent agents at the seaports, lots of revenues, hitherto lost, have been recovered to the tune of One hundred and fifty two million, four hundred and ninety-two thousand,two hundred and fourteen naira (N152,492,214.00) only even as he charged the promoted officers to live above board and continue to justify the confidence reposed in them by the service.

Thanking the Comptroller-General, Wale Adeniyi for his continued support and fatherly disposition which he attributed to the promotion of officers and eased up the activities of officers, he said, “Let me use this opportunity to appreciate the Comptroller-General of Customs, Wale Adeniyi MFR and his management team through the Board of the NCS for this privilege and promise our determination and zeal to perform even more as we wear our new ranks.”

He noted that, “New rank comes with new and more responsibility and we must deliver on our mandate.One thing that is constant in life is change”

He reiterated that the recent promotion would bring changes in the roster and that officers and men of the service must justify their relevance on duty assignments.

admin by — January 18, 2024 in Business 0
Moniepoint Boosts Access For Underbanked SMEs,Individuals In Nigeria

Mohammed Shosanya

As the wider world continues to rapidly embrace digital payments, access to financial services has become critical for businesses and to thrive.

But for the underbanked and underserved, especially in rural areas, this access remains a major challenge.

According to the latest research released by EFInA in its Access to Financial Services in Nigeria survey, approximately 40 million adult Nigerians remain formally excluded even though we have seen a leap in formal financial inclusion as it grew from 56% (2020) to 64% (2023).

With the shift from traditional to digital transactions gaining some fillip, Africa’s leading fintech, Moniepoint recognizes the challenges posed by this digital shift, particularly for the underbanked communities.

According to Felix Ike,CTO and co-founder of Moniepoint, who emphasizes the company’s mission: “Our guiding principle is financial happiness for everybody. Even if you are underbanked and in a far flung and remote area, you should be getting access to the best financial products available.”

Moniepoint’s comprehensive financial services platform provides underbanked and underserved SMEs and individuals with a one-stop solution for payment processing, access to credit, and streamlined operations in powering their dreams. Its unique approach combines technology with a robust network of local merchants and offline engagement team across every nook and cranny of Africa’s political and economic powerhouse.

Having evolved from its roots as TeamApt, where it initially focused on automating back-end processes for banks, Moniepoint’s founders saw an opportunity to make a direct impact on people’s lives with the solutions they were creating. This in turn has heralded the global fintech’s emergence as a truly transformative force for good.

“With Google Cloud’s infrastructure solutions, we’ve been able to quickly and reliably scale our platform to reach millions of customers, process billions in transactions, and expand economic opportunities. This flexibility allows us to adapt and expand rapidly without compromising performance or security,” Ike said.

The company’s growth is also creating sustainable employment opportunities, with thousands of direct hires across Nigeria and millions more jobs supported indirectly through the growth of Moniepoint’s business customers. As Moniepoint expands to serve individuals as well as SMEs with credit facilities, savings and other exciting products, it aims to empower even more underbanked communities by ensuring access to modern, digital financial services.

admin by — January 18, 2024 in Banking&Finance 0
Eterna Plc Emerges Domestic Sales Distributor Of Dangote Refinery Products

Mohammed Shosanya

Eterna Plc, a key player in the energy sector, has been appointed the official domestic sales distributor for Dangote Petroleum Refinery products in Nigeria.

This designation solidifies Eterna Plc’s pivotal role as a major distributor of Dangote’s domestic products, underlining the company’s commitment to enhancing product supply,the company said in a statement.

Benjamin Nwaezeigwe, the Managing Director/CEO of Eterna Plc, expressed enthusiasm about the collaboration.

He added: “We are proud to be appointed as an official distributor of Dangote refinery domestic sale in Nigeria. This partnership with Dangote refinery is a demonstration of our commitment to providing Nigerians with world-class Energy solutions that meet their needs and expectations. We are happy that we are keeping to our promise to stakeholders that the company will remain competitive even in the face of fuel subsidy removal.”

admin by — January 18, 2024 in Oil&Gas 0
FG To Spend N1.6trn On Electricity Subsidy, Unveils Fresh Tariff Review

Mohammed Shosanya

The Federal Government will spend up to N1.6 trillion in subsidizing electricity for end users by the end 2024, amounting about N120 billion every month, the Nigerian Electricity Regulatory Commission (NERC)says.

Garba Sanusi, the Executive Chairman of NERC, stated this on Wednesday during interactive session with journalists in Abuja, lamented the amount was not sustainable.

NERC Wednesday night posted the review tarriff for the operating electricity distribution companies with provision of subsidy.

The NERC boss, who spoke passionately about the new tarrif review said: “I want to correct the impression that for one year we haven’t had any review. The reality is that the reviews have been done but what happened is what you pay as a customer is a blend of regulation and and policy.

“If we have determined that you should be paying N150 and the Federal Government says you should pay N60 and it will pay the difference. Then that is what it is, and the government would now provide the money.

“And that is why the current tariff order that is posted on our website, you will see this is what you should pay, and this is what the government says you should pay, and the government will provide the difference except there is the change of the government policy.

“For the first time we mandated all the Discos to provide five-year capital investment plans, and we reviewed it for prudence and efficiency, and we made sure that all these investments are targeted towards the improving service.

“We have our projection on what will be required if the government does nothing tariff, and it will be N1.6trn to fund electricity, and that is 30bn a month. One of the new things in tarrif order is, and to avoid rate shock, we will now be doing the minor tariff review very frequently, like every month’’.

admin by — January 18, 2024 in Power 0
Rev. Esther Ajayi’s Charitable Endeavor Gives Scholarship To Over 100 University Students

Mohammed Shosanya

Founder of Love of Christ Generation Church and The Esther Ajayi Foundation extends fully funded scholarships to foster education and leadership development in Nigeria.

Renowned Christian leader Rev. Esther Ajayi is facilitating the educational aspirations of over one hundred Nigerian youths through her sponsorship of their university education.

As the founder of the Love of Christ Generation Church and the driving force behind The Esther Ajayi Foundation, Rev. Ajayi is extending fully funded scholarships to deserving individuals from less-privileged backgrounds within her church and across different States in Nigeria. The scholarships encompass tuition, accommodation, and living expenses.

At a church service on January 14, 2024,Rev. Ajayi expressed her commitment to fostering a new generation of leaders in Nigeria

“This is my contribution to the development of a new generation of leaders.” Additionally, she acknowledged and awarded 20 students during the service, recognizing their commendable backgrounds and academic achievements. Emphasizing her vision, she underscored the significance of impacting lives and ensuring that the youth are well-prepared for the challenges ahead. “By the grace of God, I am a graduate, as is every member of my family. Therefore, it is only fitting that the youths around me receive an education as well, recognizing that the younger generation is our future,” she added.

Encouraging the congregation to support the youth beyond their external appearances, Rev. Ajayi urged them to unlock their full potential in service to God and humanity. “For the youths, they must realize that there is no limitation to what they can achieve if they trust God and remain focused,” she added, offering words of encouragement.

The beneficiaries and their parents expressed gratitude during the ceremony, offering prayers for Rev. Ajayi and her family’s continued success in ministry and long life. Master Johnson Daniel, a recipient, conveyed his appreciation, stating, “I am deeply grateful to the Esther Ajayi Foundation for restoring my lost hope. I never imagined that I would be able to pursue education beyond the secondary level, let alone attend a private university. A mother who cares for all the children around her has chosen to provide me and many others with a future and expected end.”

admin by — January 18, 2024 in Education 0
Ibadan Explosion: Foreign Illegal Miners Disappeared Before Explosion -Survivor

A survivor of the explosion that rocked Ibadan, Oyo State capital, yesterday, has said it was foreigners, who engaged in illegal mining activities, that caused the explosion.

He also said that they ran out just before the blast.

The survivor, Alhaji Mohammed Musa, lived next to the epicentre (ground zero) of the explosion.

Though the official announcement of the casualty figure is yet to be made, Vanguard gathered that three people died in the explosion.

UK returnee dead

Meanwhile, it has been revealed that one of the deceased is a United Kingdom, UK, returnee.

A viral video credits one Honourable Ayode Jajaye as stating that the UK returnee is the son of one of the landlords in the Ibadan estate where the explosion occurred.

He said: “Look at the guy that just died. He just came from the UK about a week ago. He’s a son to a landlord in this estate.

“My conclusion is that the government should investigate this situation. The casualties are too much. Look at damages. We can’t just look away.

“There are so many collateral damages that have happened.”

At the scene of the explosion yesterday, a body was brought out of the rubble and put in a body bag.
Earlier, the Oyo State Government had announced that two people died in the unfortunate incident. Also, a survivor who was seriously injured was wheeled into a waiting ambulance.

How I survived — Mohammed

Speaking with Vanguard at the scene, Mohammed said he was rushed to the hospital and discharged this morning.

He said he escaped death by the whiskers because he offered to help his neighbor put out the fire that preceded the explosion.

Narrating the events that preceded the explosion, Mohammed said: “Around 7 p.m. last night (Tuesday), I was going to pray.

“As I was standing to start the prayer, I noticed some fire burning in the next house. So, I stopped the prayer and quickly picked my fire extinguisher.

“I told my boys that the neighbor’s house is on fire, let’s go and help.

“I then came downstairs. One guy saw me and said the fire was beyond what an extinguisher can put out. I then picked my phone to call the fire brigade men.

“However, the next thing I heard was that blast. It threw me off the ground and landed me on the stairs. Part of the house had cracked. My boys advised that I should jump.

“Fire started just a metre away from that house and as of the time we came downstairs, there was no one on the premises.”

The foreigners

Also, speaking on the occupants of the house, he said: “The house where the fire started is occupied by a Senagalese or Namibian and they engage in mining activities.

“Definitely, they had explosives inside the building. The explosion was as a result of the explosives kept in the building.

“The foreigners have been living in here since 2013. They go in the morning and come back in the evening. I wouldn’t know if their immediate neighbour knows they are into mining.

“The foreigners ran out before the explosion.”

He clarified that immediately after the foreigners saw the raging fire, they knew the implications because of what they kept inside.

Mohammed said: “They, including their children, ran out of the house and they didn’t alert us so that we could run away too.

“They knew the implications when they saw the fire. So they ran out without alerting us. Thank God I came down trying to help put out the fire. I would have been dead by now.

“The whole house would have collapsed on me. I wanted to save the house of my neighbor from being burnt. That’s what saved me. If anyone had been in the house, the person would have gone.”

Asked if he knew his neighbors were illegal miners he said: “We have them all over. They are also at Orogun. That’s their trade and that’s what they came to Nigeria to do. And explosives are part of the things they use in blasting. Definitely, they had kept them in the house.”

Explosion caused by illegal miners — Governor Makinde

The Oyo State Governor, Seyi Makinde, also attributed the explosion to explosive devices stored by illegal miners.

He added that two persons died in the explosion, which occurred at about 7:44 p.m. on January 16. He added that about 77 persons were injured.

In a press release shared on his verified X page on Wednesday morning, Makinde explained that the preliminary investigations revealed that illegal miners stored explosive devices in one of the houses in Bodija.

He said: “We visited the scene of the explosion in Bodija, Ibadan. This unfortunate incident resulted in death and injury to residents in the vicinity and also affected properties.

“We have already deployed first responders and all relevant agencies within Oyo State to carry out comprehensive search and rescue operations. These operations will continue throughout the night.

“Earth-moving equipment, ambulances, emergency lights, and security were deployed to the scene of the incident.

Welfare

“The wounded and injured are being treated and moved to public and private hospitals within Ibadan. Medical personnel are on standby at these hospitals to provide all needed assistance to the injured. We have visited UCH to see some of those injured during the incident.

“In total, we have 77 injured victims so far, most of whom were treated and discharged and two fatalities. May their souls rest in peace and may God give their loved ones the fortitude to bear this irreparable loss.”

“I have directed that the medical bills of all victims be covered by the government. We will also be providing temporary accommodation for those whose houses were affected.

“I urge all residents to please call 615 for any emergencies they may be experiencing at this time. They should remain calm and stay away from the immediate scene of the incident.”

A statement by the Chief Press Secretary to Governor Makinde, Mr Suleiman Olanrewaju, he noted that “the State Government has set up an Emergency Situation Room for the Bodija incident led by Professor Temitope Alonge.

“Search and rescue efforts at the site of the incident continued overnight. Updates from the Emergency Situation Room will be publicised through official government accounts and media channels.

“The contact numbers for the Situation Room are 07049948057 and 08147672009.

“Residents are advised to stay away from the site of the incident and call 615 free of charge for emergencies in Oyo State.”

Bola Ige’s residence affected
Meanwhile, the residence of the late Attorney-General and Minister of Justice, Chief Bola Ige, was also affected by the Ibadan explosion.

His son, Architect Muyiwa Bola Ige spoke with Vanguard.

He said: “We thank God for life and for those who survived the unfortunate incident. The effect is that lives were lost.

“It affected my house we are just a few metres away from the epicenter and the gravity led to the damages we have here. We thank no life is lost here. The blast shattered the windows and roofs.

“Structurally, the building is intact. I have gone around to do the analysis.

“Yes, we are hearing that the explosion was caused by some illegal miners. That would be grossly unfortunate that someone could keep such dangerous things in the residential area. I have spoken to the leadership of this residents’ association to find out who the persons are.

“Do they have the inclination of what their activities are? We should not jump the gun. But it is evident because there is a crater at the epicenter. It’s unacceptable.

“Glasses were blown out, roof surfaces caved in. If they knew what they had and they kept it in a residential area, then they are suicidal.

“We must identify who they are. If they are still alive. And some people have died based on the consequences of what they had done, they should be brought to book.”

He said he had to rush back home when a friend told him about the explosion. He noted that he came to rescue the grandchildren of someone close to him.

Meanwhile, there were fears that some unexploded bombs could still be at the place. Security officers were warning thousands of people at the scene to move away as staying there could be risky.

Schools shut down

Two private schools in the area were shut. Barakat and the Educational Advancement Centre were locked. Their students came to resume only to be sent back home by their teachers.

When Vanguard got to the scene, there was gridlock as a result of the large crowds trooping to the scene of the explosion.

Also, security agents had a hectic time controlling the crowd that was bent on having a glimpse of the scene.

At the spot, rescue teams were working seriously in search victims under the rubble.

Meanwhile, Vanguard was reliably informed that several children of a popular school that is located at Idi Ishin were injured and taken to the hospital. They used the building opposite the epicenter as hostels.

The Deputy Governor of the state, Bayo Lawa, and Senator Sarafadeen Alli, representing Oyo South senatorial districts were early callers at the scene.

The Commissioner of Police in Oyo State, Mr Adebola Hamzat; soldiers; Red Cross; Nigerian Security and Civil Defence Corps, NSCDC; Department of State Services, DSS; fire brigade men, bomb detectors, National Emergency Agency, NEMA, were all on ground.

admin by — January 18, 2024 in Crime/Metro 0
CBN Tackles Forex Transactions Abuses, Clears Liabilities Backlog

Mohammed Shosanya

The Central Bank of Nigeria (CBN), in its bid to clear the backlog of outstanding foreign exchange liabilities, has paid approximately USD 2.0 billion across various sectors, including manufacturing, aviation, and petroleum.

It has also cleared up the entire liability of 14 banks and started settlements with foreign airlines.

The CBN Acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, disclosed this in Abuja on Wednesday, explaining that the bank had commissioned an independent forensic review by a reputable firm. She also disclosed that payment of the forex backlog for qualified transactions had commenced.

She, however, noted that the review revealed grave infractions, gross abuse, and significant non-compliance with market regulations, and appropriate sanctions would be enforced in collaboration with relevant agencies.

Mrs. Sidi Ali emphasized CBN’s resolve to sanitize the financial services sector and foster trust among all market participants, as well as internal and external stakeholders, in the Nigerian economy.

She said the bank will continue to settle the legitimate foreign exchange backlog as it has consistently been doing in the last three months.

admin by — January 18, 2024 in Banking&Finance 0