Business

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FG-Siemens power project won’t achieve 7,000MW target, says ex-TCN boss

By Abubakar Yunus Abuja

Usman Mohammed, former managing director, Transmission Company of Nigeria (TCN), says the presidential power initiative (PPI) has distracted the company from focusing on issues bedeviling the power sector.

Mohammed spoke on Channels Television’s Sunrise Daily monitored by Peoples Daily on Wednesday.

The first phase of the PPI seeks to modernise, rehabilitate, and expand the national grid.

In December 2021, the federal executive council (FEC) approved $1.9 million and €62.9 million for phase one of the PPI.

Speaking on the development, Mohammed said the PPI was created the same way as the national integrated power project (NIPP).

The former TCN boss said the transmission rehabilitation and expansion programme (TREP) was a better initiative but had stalled due to the government’s shift of focus.

TREP, a strategy which is expected to rehabilitate and expand the nation’s transmission infrastructure, is expected to gulp $200 million.

“As at today, the content of that presidential power initiative (PPI) is intervention in upgrading seven substations. That is phase one. Then, they are supplying some mobile transformers. That is what it is,” he said.

“What is 10 mobile transformers and 10 spare transformers? All these things they are talking about is not up to 2 percent of what they are doing under the national transmission rehabilitation and expansion programme and yet, the moment the government put this issue of doing the presidential power initiative (PPI), they distracted TCN from focusing on what they are supposed to do.”

Asked if the first phase of the PPI can achieve its target of increasing power supply to a minimum of 7,000 megawatts, Mohammed said it was not a tangible goal.

“How will upgrading in Talata Mafara, upgrading in Katampe and four other substations, take you to 7,000 megawatts? It is not possible. Instead of us to focus on the one we have worked on,” he said.

“We have carried out all the studies. For example, we embarked on a project in Lagos. We are putting four 330KV substations in Ogun and Lagos. One in Aribajo, new Agbara, Mountain of Fire and one other place. Then 132KV in Redeemed Christian Church of God, and another one in Badagry. These substations include lines 330KV and 132KV.

“All the studies have been concluded when I was the MD and this project is putting power at the industrial base of Nigeria, especially between Lagos and Ogun. It is putting four 330KV substations and two brand new 132KV substations with lines. And it is attacking the industrial base of the country.

“We’ve completed the study. We included the counterpart funding, which is the only thing that is needed to pay the compensation for the right of way, which is worth about N3 billion in the ministry power as at the time I was still the MD, before I was sacked. But up to now, the compensation for right of way was not paid.

“The design has been completed. Everything is completed. Now, we are focusing on PPI that even the studies were not concluded.”

Speaking further, Mohammed said there is need to better engage with political parties for them to have clearer understanding of the power sector.

He said there is also need for Nigerians to have a non-partisan consensus to develop the power sector.

“So, that we know that any party that comes, this is where we are moving because one political party can not solve the problem of power sector,” Mohammed said.

“What I mean is that in four years, you are not going to solve the problem of power sector. So, it means that we have to have non-partisan consensus on how we want to move forward.”

Senate passes N819bn supplementary budget to ‘cushion flood effects, complete critical projects’

By Abubakar Yunus Abuja

The senate has passed a supplementary budget of N819 billion for the 2022 fiscal year.

The development came after the senate extended the implementation of the 2022 budget till March 31, 2023.

The national assembly had passed N17.12 trillion as the 2022 budget, but it was later revised to N17.31 trillion at the request of Buhari who cited the impacts of the Russia-Ukraine war on the country’s economy.

The supplementary budget was passed on Wednesday after Jibrin Barau, chairman of the appropriation committee, presented a report during the plenary session.

While presenting his report, Jibrin said the funds are meant to cushion the effects of the recent floods and complete some projects that have reached 85 percent completion.

“[This will] make available funds to cushion the 2022 flood effects and completion of critical projects that have reached 85 percent completion,” the chairman said.

The senate’s decision to approve the supplementary budget followed a request by President Muhammadu Buhari last week.

The president said the supplementary budget would be financed through additional domestic borrowings and this would raise the budget deficit for 2022 to N8.17 trillion.

“The year 2022 has witnessed the worst flood incidents in recent history which has caused massive destruction to farmlands at the point close to harvest season. This may compound the situation of food security and nutrition in this country,” the president had said.

“The flood also devastated the road infrastructure across the 36 states and the FCT, [and] has affected sections of major roads and bridges nationwide that are critical to the movement of goods and services.

“The water sector was also affected by the flood and there is a need to complete some ongoing critical projects that have achieved about 85 project completion.”

Imo State Governor, Senator Hope Uzodimma, “harvests” a bunch of plantain as the Chief Harvester at the Youth Harvest held yesterday at St Rose of Lima Catholic Church, Uzuh, Omuma...

Senate steps down restructuring Buhari’s N22.7trn ways and means request

By Abubakar Yunus Abuja

The Senate President, Ahmad Lawan, presides over the plenary in the upper chamber of the National Assembly on April 27, 2022. The Senate, on Wednesday, stepped down the restructuring of the N22.7 trillion Ways and Means request of President Muhammadu Buhari until more documents were presented to the Senate for further legislative action.

The Upper Chamber, however, approved that N819 billion be excised from N1 trillion ways and means to fund the 2022 supplementary budget where the Ministry of Agriculture is to get N69 billion; Ministry of Water Resources, N15.5 billion; the Federal Capital Territory, N30 billion; and Ministry of Works and Housing, N704 billion.

Before stepping down the request during plenary, it had earlier caused raised voices in the Senate.

Trouble started when the Chairman, Senate Committee on Finance, Senator Solomon Adeola brought before the Senate a report of the committee which worked on the President’s request.

Another lawmaker, Senator Betty Apiafi raised a point of order, arguing that Buhari’s request was unconstitutional and what the Senate was purportedly about to do by considering the request was unknown to the law.

The Senate President, Ahmad Lawan ruled that she was out of order on the grounds that the report should be presented and read by the committee chairman and that thereafter lawmakers can contribute to the debate.

But the Senate President’s ruling annoyed Apiafi and some lawmakers, leading to a tense atmosphere in the chamber.

In response, Senator George Sekibo raised a point of order calling on the Senate President to step down the consideration of the report until lawmakers had more details on what the funds were used for.

The Senate afterwards went into a closed door session.

Buhari had written to the Senate, requesting the approval of restructuring of N23.7 trillion Ways and Means advances given to the Federal Government by the Central Bank of Nigeria.

The President, in a letter read by Lawan during plenary session last Wednesday, explained that Ways and Means were advances from the Central Bank of Nigeria (CBN) to the Federal Government for emergency funding of delayed receipt of fiscal deficit.

He said the ways and means balances as at December 19th is N22.7 trillion.

Buhari further stated in the letter that he had approved the securitisation of the ways and means balances along the following terms: Amount – N23.7 trillion, Tenure – 40 years, Moratorium on principal repayment – three years, Pricing interest rate – 9 percent.

BUSINESS

Dangote Refinery Awards Scholarship to 460 Students in Host Communities

As part of its Corporate Social Responsibility (CSR) programmes, Dangote Petroleum Refinery and Dangote Fertiliser Limited have awarded scholarships to 460 students of secondary schools and tertiary institutions from its host communities in Ibeju Lekki, Lagos State.

The company said the scholarship had become an annual event meant to contribute to the educational development of the people and position them rightly in the scheme of things in Lagos State and Nigeria in general.

The scholarships were presented to 443 secondary school students and 17 tertiary institution students from its host communities around Ibeju-Lekki.

Group Executive Director, Strategy, Capital Projects and Portfolio Development, Dangote Group, Mr. Devakumar Edwin, presented the scholarships to beneficiaries yesterday at an event attended by traditional rulers and government officials in Lagos State.

Edwin said the Dangote Group believes that education is the passport to the future and that an investment in knowledge yields the greatest dividends for mankind.

He said the company had over the years supported the Nigerian educational sector by instituting scholarship award programmes.

According to him, this is part of the company’s education intervention initiative for indigenous students of host communities impacted by its businesses.

He stated: “In 2019, we executed a pilot of the scholarship programme where 51 secondary school students from our 15 host communities here in Ibeju Lekki were awarded. However, we could not hold the second edition in the year 2020 due to the incidence of COVID -19 and its associated effects not only on businesses but on every household.

“In 2021, 118 secondary

L-R, Chief Mufutau Dauda, Baale of Magbon Segun / Chairman of Baale in Ibeju- Lekki, Bello Shakirat, One of the Beneficiaries from Community High school Lekki, Dangote Industries Limited, Group Executive Director, Strategy, Capital Projects & Portfolio Development, Devakumar Edwin, Ajangboju Moruff, Beneficiary From Community Senior High school Magon Segun, Hon. Tosin Osunnuga, Secretary Lekki LCDA, who represent ed the Chairman of LCDA, at the 2022 scholarship award to qualified secondary and tertiary students of the host communities youths of the Dangote Refinery and Fertiliser Projects Lekki Lagos, on 28th DECEMBER 2022

school students and 19 tertiary institution students from our host communities were awarded the scholarship award and after a rigorous screening process this year, 443 secondary school students and 17 tertiary institution students have qualified for the scholarship award.”

While congratulating the beneficiaries, he enjoined them to continue to work hard at their studies, strive to achieve excellence in all that they do, and never stop giving their best. “Your achievements are a testament to your determination, perseverance, and commitment to excellence, and we are honoured to celebrate your success with you today”, he added.

Edwin encouraged the awardees to make the most of the opportunities and to always strive for excellence.

“Remember that your education is a gift, and it is up to you to make the most of it. Take advantage of every opportunity to learn and grow, and do not be afraid to take risks.We are proud to support your education and future endeavors, and we look forward to seeing all that you will accomplish in the years ahead. Congratulations again to all our scholars.

“With the continuous support of the people and the Lagos State Government, we shall not relent in our efforts to be socially accountable while we positively impact our host communities. We look forward to a continuous peaceful and rewarding relationship with our host communities in Ibeju Lekki,” Edwin said.

On his part, the traditional ruler of Lekki, Onilekki of Lekki Land, Oba (King) Liasim Ogunbekun said that the programme was a blessing to the community and gave kudos to the Dangote Group.”

“We appreciate Dangote Group because this is not their first time but their third scholarship edition to the host communities in Ibeju Lekki.

“I urge the beneficiaries to put in more effort in their academic pursuit and justify the amount being paid for the scholarship.”