By Ubong Ukpong, Abuja

House of Representatives at its resumed plenary on Tuesday asked the Nigerian Electricity Regulatory Commission (NERC) to halt the implementation of the recently announced electricity tariff increase.In addition, the House ordered the suspension of other conditions in the newly issued review of the Multi-Year Tariff Order.

The House then set up a special committee comprising the Committees on Power, Commerce, Delegated Legislation, and National Planning to organize a well-structured hearing on the price regulation of the Nigerian Electricity Supply Industry (NESI). The hearing would include the participation of the Minister of Power, Chairman and Commissioners of NERC, the chief executives of all electricity utilities in Nigeria, Presidents of the Nigeria Labour Congress and the Trade Union Congress (TUC), as well as leaders of chambers of commerce in Nigeria.The House resolved to appoint a well-regarded former regulator as a technical consultant to develop templates for the determination of the legality and reasonableness of the procedures adopted by NERC in approving the tariff increase and establishing the performance benchmarks for the Discos.It also resolved to authorize the consultant to work with the special committee to draft a bill to provide for administrative procedures that entrench proper consultation and legislative review processes for tariff setting in the electricity and other public services in Nigeria.

These resolutions followed the adoption of a motion of urgent importance moved by Hon. Nkemkanma Kama at the plenary.While moving the motion, Hon. Kama said that the legislative motion on the increase in electricity tariff “seeks to address key issues surrounding the sudden hike in electricity prices in Nigeria.According to him, “It highlights concerns over due process, fairness, and the impact on consumers. The motion aims to restore public trust, protect consumer rights, and ensure regulatory accountability in the Nigerian Electricity Supply Industry (NESI).“The facts presented include the alarming tariff increase announced by the Nigerian Electricity Regulatory Commission (NERC) on April 1, 2023, resulting in a staggering 300% rise for certain consumers.“However, what’s more concerning are the reports indicating discrepancies in customer categorization and widespread complaints regarding inadequate service despite increased charges.“This situation has not just sparked national anxiety, but it also threatens regulatory certainty and investor confidence in the sector, demanding immediate attention.”He said the motion argues for legislative intervention, underlining the constitutional and moral obligations to address the crisis and alleviate the burden on Nigerian citizens.According to him, “it places a strong emphasis on the legislative oversight role over NERC and the electricity utilities, stressing the need for fair and just pricing and consultation with stakeholders in tariff determination processes. This is not just a responsibility but a duty we owe to our constituents.“Key issues highlighted include the failure of due process in approving the tariff increase, concerns over discriminatory practices, and the disputed nature of government subsidies to electricity distribution companies (DISCOs).“The motion proposes resolutions to suspend the recent tariff increases, establish a special committee for hearings involving relevant stakeholders, appoint a technical consultant to assess the legality and reasonableness of NERC’s procedures, and draft a bill to improve regulatory processes in tariff setting.“Overall, this motion underscores the importance of legislative action to address the challenges facing the electricity sector and ensure fair treatment of consumers while promoting transparency and accountability in regulatory decision-making.”When the motion was put to voice vote by the Speaker, Hon. Tajudeen Abbas, who presided over the plenary, it was unanimously supported by members.

By Tony Obiechina, Abuja

The staff of the Securities and Exchange Commission were in great jubilation as newly appointed Director General Dr. Emomotimi Agama assumed office in an Acting capacity pending confirmation by the Senate.Agama who resumed at the Commission’s Head office Tuesday and was received by excited members of staff, promised to ensure that the capital market is well regulated and developed in a bid to contribute to the nation’s economy.

Addressing the staff, the the Director General said, “I have come here today to serve you and the institution by sheer providence, we should work together to meet the yearnings and aspirations of the capital market, let us make this institution better and greater knowing that it is a place that feeds and gives us succor, united we stand, and divided we fall”. According to him, “We are grateful to President Bola Tinubu for finding us worthy of this opportunity and we know that expectations of the market and the country are huge, it is our utmost determination to work together with the staff of the Commission to ensure that we deliver on this assignment”.The Acting DG also commended the staff of the Commission on their commitment to the SEC and assured that the incoming Management will work with the staff union to ensure all lingering staff issues are resolved“I have come here as your colleague because without you this institution won’t get anywhere. This institution has been built by you, your resilience even in trying times has brought us thus far. All of you have been symbols of hard work” “It’s been a wonderful journey knowing every one of us here. I have had the pleasure of being involved in people’s career here for the last 20 years. We have crossed many rivers, but each of us has added some value to this institution. When we leave we should be able to look back with joy at what we have done. I therefore solicit your support and cooperation to ensure that we all succeed” Agama said.Top executives and junior staff who spoke at the meeting pledged their commitment to support the Director General to achieve the lofty goals of making the Nigerian capital market better and greater.It would be recalled that Tinubu recently approved the appointment of a new Board for the SEC. This was contained in a statement issued by Ajuri Ngalale, a spokesperson to the President.The President also appointed the following professionals to the board of the Commission: Mr. Mairiga Aliyu Katuka as Chairman, Frana Chukwuogor – Executive Commissioner (Legal and Enforcement), and Mr Bola Ajomale as Executive Commissioner (Operations).Others are Mrs. Samiya Hassan Usman – Executive Commissioner (Corporate Services), Mr Lekan Belo, Non-Executive Commissioner, and Mr Kasimu Garba Kurfi, Non-Executive Commissioner.

By Laide Akinboade, Abuja & Attah Ede, Makurdi

Four residents of Bmuko community at Dutse Baupma axis of Bwari Area Council in the Federal Capital Territory (FCT) were kidnapped late Monday by unknown gunmen.A resident of the community by name Isah said that the invasion started at about 11:50pm in the house of a certain Patrick who is an engineer.

His wife and brother were among the people kidnapped. According to him, the kidnappers, who were more than 30 in number stormed Zone C, Road 5 of the community and shot sporadically in the air before they broke into the house of the engineer and abducted two of his family members. ”From the engineer’s house after carrying his wife and brother, they divided themselves into two groups. One group went towards the riverside that leads to Kubwa and Bwari while the other group went towards the hillside.”It was the group going towards the hillside that stopped at a nearby house where they kidnapped a pastor and a young man. We could not do anything, we were scared to death during the period of the operation,” he said.One of the leaders of the community who preferred anonymity said that they heard gunshots a few minutes to 12 midnight and that was when one of the landlords living amongst them sent them a voice note on their platform that they were being attacked.”Swiftly, our security personnel came down and we made calls to the FCDA Police Station. Luckily, we had intervention from them and soldiers also came to our rescue.“However, the whole thing turned to something else as nobody was arrested.”The kidnappers went with three or four people and as we speak the soldiers that went in search of them have returned without rescuing them. The policemen are still in the bush searching for them.”We have been demanding for a police outpost here in the Bmuko community because this is a populated environment,” he explained.

He noted that if they had police patrol, at least three to four times in a week, their presence would have made a difference in the community.”We are trusting that those kidnapped would be rescued safely. They have not contacted anybody yet.”The wife and brother of one Engineer Patrick were also among the people that were kidnapped including a pastor.“The kidnappers came with AK47. During the night search we picked up about two or three bullets of AK47,” he said.FCT Police Public Relations Officer Josephine Adeh could not be reached to speak on this development.In January, gunmen numbering six broke into a home at Guita community, Chikakore, Kubwa, in same Bwari Area Council of FCT and took away two sisters, aged 16 and 14 years.Weeks earlier, kidnappers dumped the remains of four victims they executed around a former military checkpoint behind Idah Junction on the Bwari-Jere SCC Road in Kagarko LGA of Kaduna State.Similarly, gunmen suspected to be kidnappers on Sunday evening abducted a senior staff of the Benue State University Makurdi.The staff identified as Prince Matthew Chile whose department is yet unknown was reportedly kidnapped along the Makurdi-Naka road.It was gathered that the incident happened when Chile, in company of his wife and four of his siblings were driving to Makurdi from Naka in his Toyota Corolla vehicle.A family source who spoke with our correspondent on condition of anonymity, stated that all efforts to reach Chile on his phone number proved unsuccessful and no word has been heard from him.When contacted the University Head of Information, Mr. Tse Vanger confirmed it but said he did not have details of the incident.Police Public Relations Officer Catherine Anene said she got informed that one BSU staff was kidnapped.She said, “They call him Prince Chile. I do not know his department. But investigation is already on about the incident.”