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Newly Approved Tariff to Reduce Subsidies for 2024 by NI.14 Trn-NERC

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The Nigerian Electricity Regulatory Commission (NERC), says the newly approved tariff is expected to reduce subsidies for the 2024 fiscal year by about N1.14 trillion.

Mr Musliu Oseni, the Vice Chairman, NERC said this in a statement in Abuja on Wednesday.

”With the newly approved tariffs, subsidies for the 2024 fiscal year are expected to reduce by about NGN1.

14 trillion in furtherance of the Federal Government’s realignment of the subsidy regime.
”’he said.

Oseni said that the Federal Government  had indicated a transition in policy direction towards introducing a more targeted subsidy regime aimed at mitigating the impact of changes in macroeconomic parameters

”While largely protecting vulnerable customers and fostering investments targeted at providing efficient service delivery in the Nigerian Electricity Supply Industry (NESI),” he said.

According to him, the commission conducted a thorough review of the tariff applications submitted by the 11 Electricity Distribution Companies (DisCos) in line with the processes established in its regulations and business Rules.

He said that the review process was preceded by an analysis of the performance improvement plans of the licences and included a public hearing during which interested stakeholders and intervenors examined the rate filing submitted by the public utilities.

”The overarching objective of the commission in the consideration of the tariff application is the creation of a financially sustainable electricity market providing adequate and reliable power supply to drive the Nigerian economy.

”The commission, upon due consideration of the tariff applications, has approved revised rates affecting only customers classified under Band Serv category which is about 15 per cent of the customer population,”he said.

Oseni said that empirical service data had confirmed that this class of customers had truly received the committed level of service.

He said that under the revised tariff order issued by the NERC, DisCos were under an obligation to provide customers classified under B and A service category a minimum average supply of 20 hours a day measured over a period of one week.

”All other customers under B to E service category and representing 85 per cent of customers population will not be affected by the current review of end-users tariffs.

”All DisCos have been provided with mandatory targets for investments and migration of more customers to B.

”The commission has established a robust monitoring framework leveraging on technology to ensure that the public has visibility of the service covenant with their service providers,”he said.

Oseni said that an enforcement and compensation mechanism had also been established in the event of service failure.

”We wish to assure all Nigerians that the commission  working in collaboration with the policymakers remains committed towards providing adequate and reliable electricity to all citizens.

”This is as we work diligently with state governments to deliver on the gains of the Electricity Act 2023.,”he said. (NAN)

NEWS

Kano APC Suspends National Chairman, Ganduje Over Alleged Corruption

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The National Chairman of the ruling All Progressives Congress (APC), Dr Abdullahi Umar Ganduje has been suspended as a member of his ward in Kano. Reports says that the Executive members of Ganduje Ward In Dawakin-Tofa Local Government Area of Kano state announced the suspension of Ganduje over alleged corruption on Monday.

Addressing newsmen in the state capital, the legal adviser of the Ganduje Ward, Haladu Gwanjo said the former Kano state governor is alleged to have committed gross misappropriation of public funds during his time as governor of the state.
According to him, the members decided to suspend the national chairman’s membership after a vote of no confidence was passed on him due to his inability to clear his name from various allegations of corruption against him, which range from the circulated dollar videos where he was allegedly collecting bribe from contractors.
He said the suspension takes effect from today 15 April.A viral video had captured Ganduje allegedly receiving bundles of dollar notes as a bribe from a man said to be a contractor and stuffing them in the pockets of his flowing gown.The video, which garnered widespread attention in 2017, has been the subject of intense scrutiny.Ganduje had denied the content of the video when it first surfaced and maintained his innocence but years after, the New Nigeria People’s Party (NNPP)’s administration of Governor Abba Yusuf revisited the case, vowing the prosecute the ex-governor.The Kano High Court would arraign Ganduje on Wednesday, April 17, 2024 on charges bordering on allegations of bribery, diversion, and misappropriation of funds, including the purported acceptance of $413,000 and N1.38bn in bribes.The Kano State Attorney General and Commissioner of Justice, Haruna Dederi, had said Ganduje would be arraigned alongside his wife and six others.The Yusuf administration, which initiated the criminal suit against the eight respondents, had declared its readiness to present 15 witnesses to testify before Justice Usman Na’aba of State High Court.

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Q1:PTML Customs Rakes N66.9b, Surpasses 2023 Revenue

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The Port Terminal Multiservices Ltd. (PTML) Command of Nigeria Customs Service (NCS) has recorded N66.9 billion revenue in the first quarter of the year.

The Customs Area Controller (CAC), PTML Command, Comptroller, Saidu Yusuf, said this at a news conference in Lagos on Monday.

He said that the figure, which was N22.

19 billion higher than the N44.
72 billion recorded same period in 2023, represented 49.
6 per cent increase.

Yusuf described the increase in the revenue collection as a laudable feat.

According to him, the command is committed towards trade facilitation and supports the government’s drive on ease of doing business.

The comptroller thanked the Comptroller-General of Customs, Bashir Adeniyi, for initiating strategies to achieve faster cargo clearance.

He reiterated that PTML command, under his watch, aimed to surpass its record of three hour cargo clearance for compliant traders.

“The launching of Time Release Study (TRS), which is ongoing and other deliberate efforts by the Comptroller General, had contributed to the expansion of terminal space and promoted ease of doing business in PTML.

“PTML command has potentials to achieve two hour cargo clearance and surpass it’s existing three hours record if port users compliance level is improved upon.

“PTML is one of the safest and most secure environments for RoRo(Roll On Roll Off) and general cargoes,” Yusuf said.

He advised importer and their agents to take advantage of the incentives available for compliant traders such as fast track, advance ruling and possible migration to the Authorised Economic Operator (AEO) status.

He reminded port users in PTML of the robust and time conscious dispute resolution mechanism, which had contributed immensely to the revenue collection, trade facilitation and anti smuggling functions of the command.

Yusuf commended the various government and private sector stakeholders for their cooperation and support toward the realisation of the overnment goal of revenue collection and prevention of unlawful activities.

He also expressed optimism that the command would surpass it’s annual target for the year.

He described the importation of vehicles meant for Nigerian roads into nneighbouringcountries with the ntent to smuggle them through unapproved roads into Nigeria as unpatriotic and act of economic sabotage.

The PTLM customs boss said that the command had the capacity for seamless and efficient processing of such automobile cargoes.

The CAC enjoined officers of the command to maximally deploy available technology and rededicate themselves to the job to achieve more revenue for the second quoter.

He reminded the port users of the increased in anti-smuggling vigilance to uncover concealment such as under declaration and smuggling of prohibited items.

Yusuf said that any discovered infraction would lead to full evoking of the Nigeria Customs Service Act (NCSA), where there were spelt out penalties. (NAN)

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EFCC Arraigns 5 for Illegal Crude Oil Deal

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The Economic and Financial Crimes Commission (EFCC), on Monday, charged five defendants before a Federal High Court in Lagos, over an illegal deal in petroleum products.
The defendants are: Mt Vinnalaris (a vessel), Azeez Abubakar, Wisdom Borborley, Samuel Akpan and Freedom Otuagoma
They appeared before Justice Chukwujekwu Aneke on two counts bordering on unlawful deal in petroleum products.


After the charge was read to them, they pleaded guilty.

Following their plea, the prosecutor, Mr R.A. Abdurasheed, informed the court that the prosecution had filed the plea bargain agreement with the defendants, before the court.
Consequently, the court adjourned the case until April 25, for adoption of plea bargain agreement.

The court, however, ordered that the defendants remain in custody of the prosecution till then.
In the charge, the defendants were said to have committed the offence sometime in 2023, while on the Nigerian maritime domain.
They were alleged to have dealt in 515.8 litres of crude oil without lawful authority.
The offence contravenes the provisions of Section 1(17) and 3(6) of the Miscellaneous Offences Act, Cap M17 Law of the Federation 2004. (NAN)

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