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Tag: Executive Director

  • Power sector shortfall exceeds N1.4tr due to tariff

    Owing to the non-review of the Multi Year Tariff Order (MYTO) since February 1, 2016, the shortfall of the Nigerian Electricity Supply Industry (NESI) has exceeded N1.4trillion.

    The Executive Director, Association of Nigeria Electricity Distributors (ANED), Barrister Sunday Oduntan, broke the news to reporters in Abuja. 

    Asked to state what losses the freezing of the review has caused in the industry, he said that “our records show a figure in excess of N1.4trillion shortfall of the value chain.

    He promised that supposing the DisCos have a cost reflective tariff, the association would even be bold to list the names of the ones that are not performing well.

    Odutan however pointed out that if you cannot collect 30% (revenue) no Jupiter should expect you to remit 100%.”

    Giving conditions for an improved power supply in the industry, he said the sector must agree on the landing cost and the payment for it.

    The Executive Secretary however suggested that the “other option is to say the price is N100, we subsidize the poor ho cannot pay N11,000 for energy every month. You now subsidize it. If you introduce subsidy, the shortfall, the remaining figure has to be paid for.”

    According to him, Kenya; Tunisia; Uganda; South Africa; Ethiopia; Morocco; Egypt; Algieria and Bukinafaso are examples of countries that subsidize electricity for their poor consumers. 

    The third one is that if government is not buoyant enough to subsidize electricity, it should allow NERC to make a law “that will create an instrument called, regulatory asset.”

    Odutan noted that with the creation of the asset, will cover the shortfall in the industry because the DisCos can use it to borrow money from banks. 

    In every tariff computation, he said, there is an allowance for Capital Expenditure (CAPEX) which the operators expenditures must not exceed.

    According to him, the current tariff in the industry is a suppressed one as it gives all DisCos N45billion and each DisCo N5.5billion annual expenditure. 

    The ANED representative said TCN, on the other hand, has a total of N50billion annual expenditure approved for it, stressing that it is unfair for the TCN to complain about DisCos’ low investment.

    With that heavy CAPEX, he said, TCN cannot solve half of its problems.

    He also disproved the the acclaimed 7,000Mega Watts (mw) energy generation capacity, stressing that that quantum of electricity does not enter customers homes in Nigeria.

    Odutan added that “Today’s TCN has not transported to my members anything near 6,000Mega Watts (Mw) one day, never in the history of Nigeria.TCN has not whelled power up to 6,000mw for one week from 1960 to 2019. Let somebody come out and state otherwise. We will asked them which day and when?”

    He noted that the power firms have a higher revenue assurance in metered areas than those that under estimated billings.

    He said that despite that the Nigerian Electricity Regulatory Commission (NERC) has saddled the Metered Asset Providers (MAP) with the responsibility of metering the customers, the DisCos, will continue to meet up with their previous obligation on metering.

  • Nigeria loses billions of dollars to prolonged bid rounds

    BILLIONS of dollars have been lost due to government’s inability to conduct bid rounds for major and marginal oil fields, former co-founder and Executive Director, Pillar Oil Limited, Seye Fadahunsi, has said.

    Fadahunsi could, however, not give a specific figure, but he maintained that the figures run into billions of dollars. “This is what the country could have been able to add to the economy over the last 12 years, especially from proper licensing rounds of blocks that are fallow,” he said.

    He explained that blocks are amass of fields.  “Imagine what the country could do with that, that’s why companies like Proton, Seplat, and the ND Western now have blocks, producing about 90,000, 70,000, 50,000 barrels per day respectively. It’s a substantial production and a major addition to the economy,” he said, adding: “They were only able to do that because there were assets available for them to bid and win.”

    “Some of them are producing about 300million standard cubic feet of gas a day, that’s a lot. Imagine what that could do to the power sector and to the industries,” he said.

    The last marginal field bid round was in 2003 while the last bid round for blocks was in 2007. Fadahunsi said it was too long, noting that if some people are not given the opportunity, they wouldn’t be where they are today.

    “It should be open and done regularly. There should be a bid round every three years because you need the bid round to increase your capacity. For those who have proven themselves, they need to be able to grow by acquiring additional fields and the new ones need to be led into the industry. Keep in mind that oil could finish one day, it’s a limited resource and one day it would finish,” he said.

    Marginal fields are located onshore and in the shallow waters. Statistics show that there are about 200 marginal oil fields in Nigeria. In 2003, the government awarded 24 out of these. Currently statistics show that nine out of these 24 are productive while the others are under-utilised.

    Consequently, reports show that the marginal fields only contribute a minimal 2.1 per cent to the total crude oil production and 67 per cent of marginal fields allocated in the 2003 licensing round have not produced a single barrel of oil.

    Marginal fields are oil fields that have been discovered by major international oil companies (IOCs) in Nigeria in the course of exploring for larger acreages and which have not been developed for more than 10 years. When identified, the IOCs may decide to farm out this field to another company to exploit as a sole risk venture. This means the contractor would bear all the costs and risks of exploitation and earn the entire rewards from exploitation.

    The President, by the provisions of the Petroleum (Amendment) Act of 1996 also has the power to declare a field as a marginal field where a discovery has been made in such a field, but has been left unattended to for 10 years. The major reasons for awarding marginal fields are to create new and diverse investment and boost reserves.

    According to the Nigerian National Petroleum Corporation (NNPC), Nigeria has about 200 oil fields branded as marginal due to location and distance to existing facilities and low ranking in the investment portfolio.

    Industry analysts argued lack of funding leads to underutilisation of leases and government’s inaction in conducting bid rounds is holding back investments in Nigeria’s 200 marginal fields, which many industry analysts say could speed up the country’s drive to increase crude oil production and revenue.

    Fadahunsi explained that another implication of not having another bid round was that people, who have the skills would not have the opportunity to deploy those skills, adding that it has a ripple effect on employment.

    According to him, each of the service companies could employ up to 60 people and when added up all, would come up to a large ecosystem of employment. Also, if these fields are put into production, they will increase Nigeria’s production capacity. “If about 20 of them come on stream and are doing about 3000 to 4000 barrels daily, that gives almost 70,000 barrels per day. It contributes to the economy, and keeps people employed,” he said, adding that not having another bid round is not to anybody’s benefit.

  • Resort Group appoints executive director

    The board of the Resort Group has announced the appointment of Mr. Rodger Whittle as its new Group Executive Director.

    A statement by the spokesman for Bi-Courtney Aviation Services Limited (BASL), a member of the Resort Group and operators of the Murtala Muhammed Airport Two (MMA2), Steve Omolale, quoted the board as saying that “Whittle is coming with a rich experience in the aviation industry, having been part of the foundation of Nationwide Airlines Ltd in South Africa for more than a decade before leaving as the Chief Operating Officer in 2008. He was until recently a Senior Vice-President, International Operations, for Arik Air International Ltd.”

    The board said: “The new executive director will, among others, lead the expected turnaround efforts towards ensuring that the commercial objectives of MMA2 are met, while maintaining the vision and mission of providing high standard and service delivery as the best operating terminal for passenger facilitation in Nigeria. He will also be expected to explore opportunities in the aviation industry for the benefit of the company.”

    Whittle, a Canadian, said he looked forward to supporting the team of professionals at MMA2, as they strove to sustain the quality services the terminal was known for.

    Prior to becoming the Senior Vice-President in Arik Air, Whittle was the Vice-President, Southern and Central Africa of the airline between 2009 and 2013; Managing Director, Cabin Safety and Training Incorporation (1996-1997); Manager, Training and Development, Air Ontario, Canada (1987-1996); In-flight Service Manager, WadAir, Canada (1985-1987)and Manager, Cabin Services and Training, City Express Airlines (1983-1985).

    He is bringing into the group an experience spanning over 35 years.

  • Inlaks gets Executive Director

    The management and board of Inlaks has promoted Babatope Dare to the position of Executive Director. Until his new appointment, he was the acting Executive Director of the Infrastructure Business Unit, where he was responsible for the development and implementation of the Digital Transformation Strategy of the Infrastructure and e-Banking business division, while also serving as the Director for Sales and Strategy.

    Inlaks is a leading system integrator in sub-Saharan Africa collaborating with original equipment manufacturers [OEMs] in the technology industry to provide world-class information technology solutions that exceed the needs of customers. The company has built a reputation as the foremost information and communications technology [ICT] and infrastructure solutions provider, helping customers to effectively seize new market and service opportunities.

    With an impressive customer base that includes six Central Banks in West Africa, 18 of the 24 banks in Nigeria and other major customers in the West African region, Inlaks has become the dominant ICT company in Africa.

    Dare started his career in the Nigerian financial industry where he successfully designed, implemented and managed complex IT projects while leading cross-functional large teams of both technical and operations in the information technology division of different banks.

    He joined NCR, the American global leader in the vast self-service industries as Sales & Marketing Manager, responsible for direct and indirect sales of NCR’s solution portfolios in Nigeria from 2010 to 2012.

    A graduate of Electronics and Electrical Engineering from Obafemi Awolowo University, Dare also has a Master’s in Business Administration from the Business School, Netherlands. He has attended management courses from the prestigious Wharton Business School, University of Pennsylvania and a FinTech certificate at Said Business School, University of Oxford.

  • ‘Community leaders to blame for poor facilities’

    The Executive Director, Health and Sustainable Development Association of Nigeria, Mr. Tayo Fariogun, is challenging communities to wake up to their responsibility to schools.

    Fariogun who spoke at the Oshodi Isolo Local Government Education forum on Thursday last week, said the “School Basic Management Committee” (SBMC) and the Parents Forum, should not wait on the government on matters concerning schools, especially in areas the communities can handle.

    He said schools today are the way they are because the community has failed to consolidate on the effors of the founding fathers, many of who resorted to self-help in establishing the schools.

    “In those days, the communities were the ones funding schools but now people are looking up to the government to carry the responsibility,” Fariogun lamented.

    He continued: “The fathers of those days stood up to their responsibility for schools. We cannot depend on the government for everything because there are hundreds of schools in the state, which is why they have to wake up to their responsibility.”

    According to Fariogun, this aforementioned scenario explained the theme of the forum: Community Participation in School Improvement.

    Education Secretary Oshodi Isolo LGA Prince Ogunwusi, said the forum was to create awareness, discussion and share ideas with the stakeholders in education on community participation in school improvement in the area.

    He said the forum would help stakeholders in the education sector understand the importance of teamwork in raising the standard of education in Lagos State as a whole.

    The council’s Head of studies, Social Mobilisation, Mrs Florence Aderemi, congratulated the school based management committee (SBMC) and parents forum for their achievements which includes: donation of brand new pumping machine to Oshodi Model Primary School Oshodi; 10 ceiling fans and a first aid box to St. Paul’s Anglican Primary School Shangotedo; as well as repair of some broken water pipes in the toilet of New State Primary School Oshodi, amongst others.

  • Death trap called Benin-Auchi-Lokoja highway

    Death trap called Benin-Auchi-Lokoja highway

    The Executive Director of the Africa Network for Environment and Economic Justice, Revd David Ugolor, is yet to get over the harrowing experience he had the last time he travelled by road from Abuja to Benin. A journey that would have lasted four hours became a nightmare that lasted over 12 hours. Rev. Ugolor left Abuja at about 6am and got to Benin at 9pm.

    The Abuja-Benin express road is now an eye sore. The Ekpoma axis of the road that has been causing motorists nightmare for the past two years is nothing compared to other axis of the road, such as between Iruekpen and Benin, the Ewu hill known as the hill of deaths and Okpella axis.

    Vehicular traffic on the Abuja-Benin express road has reduced. This is because motorists now prefer to use longer routes to get to Owan or Auchi before heading to Abuja. Motorists either travel through Ondo State via Ifon community or they use the new roads constructed in Edo Central during the administration of Governor Adams Oshiomhole The roads that link Esan West, Esan Central and Igueben local government areas enable motorists avoid bad portions of the road between Benin and Iruekpen and the Ekpoma axis.

    For the construction of the Irrua-Usugbenu-Igueben-Ujiogba roads by Oshiomhole, motorists would have opted to pass through Agbor in Delta State to get to Auchi. The option of taking long distance routes have increased transportation from Benin City to towns and villages in Edo Central and Edo North by 50 per cent Benin tô Auchi that used to cost N800 is now N1200.

    Heavy duty trucks are now mostly seen on the Benin-Ekpoma axis of the road because communities that the new roads linked used cross bar to prevent heavy duty trucks from plying the roads. Some bus drivers that still ply the route had to navigate  through mud roads and bushes whenever they are stuck in traffic along the road. Youths in some of the villages are seen on the road carrying out repair works to enable one truck or tanker pass through at a time and in return get some tips from the drivers.

    Between Iruekpen and Egor, several bad spots were noticed on the road and they are developing into a deep gully.  The villagers had to sewn woods into logs from nearby bushes which they placed on the road for trucks passed through but at a very slow pace.

    The contract for the dualisation of the Benin-Lokoja express road was awarded in September 2014 to four contractors. Section I, which covers 40 kilometers between Obajana Junction-Okene in Kogi State, was awarded in favour of Messrs CGC Nigeria_ Limited. Section II, which covers 26.70km between Okene in Kogi State and Auchi in Edo State, was awarded in favour of Messrs Mothercat Limited. Section III between Auchi-Ehor which covers 29.20km in Edo State was awarded in favour of Messrs Danata and Sawoe Construction Company Limited while Section IV between Ehor-Benin and covers 47.70km was awarded to Messrs RCC (Nigeria) Limited.

    Former Minister of Works, Mike Onolememen, had said the contracts would take 36 months to complete and that the four sections of the road were awarded at a cost N75.8 billion. The 36 months scheduled for the completion for the dualisation of Benin-Lokoja road has passed and the road is still a death trap and a cause of worry to travelers and motorists alike.

    During the visit of the Senate Committee on Works led by its Vice Chairman, Senator Clifford Ordia, residents of Ewu community in Esan Central local government cried out that they were tired of carrying dead bodies off the Ewu axis especially the Ewu hill along the Benin-Auchi express road.

    Spokesman for the community, Pa Jerome Idiata, told the Senate Committee on Works that the number of deaths recorded on Ewu axis of the road due to accidents was under reported.

    Pa Idiata stated that the community was agog when they the contractor working on the road shortly before the 2015 general elections but they were now surprised that the road has become a trench where people now die.

    His words: “Go and see the carnage on the road. Our people now take bush path to where they can take vehicle to their destination.

    “We want this road to be done. The Ewu hill section is not good.”

    At the time the Senate Committee on Work inspected progress work on the Lokoja-Benin express road, the contractor handling section iii, Dantata and Sawoe was at Ekpoma to do palliative work on the failed portion in the axis.

    The presence of the contractor did not elicit any positive reaction from Ekpoma residents and motorists as they expressed mixed feelings that the contractor was only present because they might have been aware of the coming of the monitoring team from the Senate.

    Project Manager for Dantata and Sawoe,  Roy Hungushi, said the firm would return for major work repair on the road during the dry season and said work on the firm’s section was slow became no mobilization fee was paid.

    His words, “We are trying to clean up the bad areas in preparations to come back with working materials during the dry season. We want to make the road motorable for the time being.

    “It is difficult to do major work. As soon as the rains are over, we will come back.”

    “This particular section that was awarded to us, no mobilization fees has been paid. It is difficult to move to any work site without mobilsation fee.”

    But Senator Ordia said N1.3bn has been paid to the contractor and that the contractor didn’t do what was supposed to be done on the Ewu hill section but that they have been told to reduce the vertical alignment to reduce number of deaths.

    He said,  “It cannot be true that no mobilization has been paid. Some amount has been paid nd that I know. This section that is bad is part of the scope covering Ewu hill. We have paid some amount but what he would say is that it was not enough.

    “Government has directed that they should come here and carry out some palliative works. You can see the community members are angry. Government is doing much to fix the road”.

    Ekpoma residents told our reporter that they were not sure whether the ongoing repair work would alleviate their suffering as they have seen several bulldozers in the past two years. Business owners located along the failed portion lamented that they have lost patronage and recorded poor sales.

    A restaurant owner who gave her name as Rita said the failed portion of the road has paralyzed her business. She said repair work on the road would not help them as various persons have carried out palliative work on the road.

    Why worsen the situation in Ekpoma is that the internal road network has been destroyed due to diversion of traffic.

    A community youth leader, Andrew Ikhajangbe, said they want the Federal Government to fix the road and not palliative work that the rain would damage.

    “You can see vehicles moving into the town. All the internal roads are now damaged. What we are asking is that the federal government should focus on the road,” he said.

    However, the dualisation of 14 kilometers of the road from Ramat Park axis in Ikpoba-Okha local government area has been completed. The section of the road used to be a nightmare for motorists as the contractor left site after the 2015 general elections. The completion of the 14 kilometers has stopped federal government agencies like the Federal High Court and the Court of Appeal from being heavily flooded.

    Revd Ugolor in a chat with our reporter said the Lokoja-Auchi-Benin express road represents impunity in the country.

    His words: “People get contracts and they don’t deliver. Government insensitivity  to the plight of the people is bad. It is shameful that those at the helm of affairs fly alll the time. It is not their business about conditions of our roads. I left Abuja 6am and got to Benin at 10pm. We got to Iruekpen and had to take through the bush. Particularly Iruekpen to Benin. It is very bad. What is unfortunate is that tax payers money are used to award contracts and nobody is held responsible.”

     

  • FBN General Insurance gets Executive Director

    FBN General Insurance gets Executive Director

    FBN General Insurance Limited has announced the appointment of Babatunde Mimiko as Executive Director.

    In a statement by the company, the Managing Director, Bode Opadokun, said Mimiko brings on board 18 years career across the financial services industry including a short stint in banking.’’

    He is no doubt an ideal fit to help our business to the next level. I am delighted to have him join us at this important growth stage in the life of FBN General Insurance Limited’’, he added.

    Mimiko began his insurance career at WAPIC Insurance in 1999 as Assistant Superintendent (Underwriting). From there, he moved to the then Intercontinental Bank (now Access Bank) as Product Manager – Consumer Banking Group. At Intercontinental Bank, he was responsible for developing, marketing and management of all the retail banking products of the bank.

    In 2003, he re-joined WAPIC Insurance as Branch Manager of its Port Harcourt office. He went on to spend the next 10 years of his professional career rising through various top management positions until he left as Controller in 2013. Prior to his appointment as Executive Director at FBN General Insurance, Mimiko was Managing Director of Ensure Insurance.

    Mimiko is a Fellow of the Chartered Insurance Institute of Nigeria (FCII) and an alumnus of the prestigious Lagos Business School of Pan Atlantic University. A strategic and analytical mind, he is an MBA (Financial Management) holder from Lagos State University.

  • UNICEF mourns Popular actor, Roger Moore

    UNICEF mourns Popular actor, Roger Moore

    The death of the popular British actor, Roger Moore has been described as a great lost.

    United Nations Children Fund (UNICEF)  Executive Director,  Anthony Lake stated that the world has lost a great champions for Children.
    Moore until his death was UNICEF Goodwill Ambassador.

    In a statement made available Tuesday in Abuja, UNICEF stated that “with the passing of Sir Roger Moore, the world has lost one of its great champions for children – and the entire UNICEF family has lost a great friend.”

    In his most famous roles as an actor, Sir Roger was the epitome of cool sophistication; but in his work as a UNICEF Goodwill Ambassador, he was a passionate – and highly persuasive – advocate for children. He once said that it was up to all of us to give children a more peaceful future. Together with Lady Kristina, he worked very hard to do so.

    “All of us at UNICEF extend our deepest sympathies to the Moore family, and join his many friends and admirers from around the world in paying tribute to his life and mourning his loss. He will be deeply missed.”

  • ‘Chibok Girls: Sustain negotiation to free remaining girls’

    ‘Chibok Girls: Sustain negotiation to free remaining girls’

    A civil rights campaigner, Mr Ezenwa Nwagwu, on Tuesday urged the Federal Government to sustain its new negotiating formula and secure freedom for Chibok girls still in insurgents’ captivity.

    Nwagwu, who is Chairman, Partners for Electoral Reform (PER), a Civil Society Organisation (CSO), made the call in an in an interview with newsmen in Abuja.

    Recall that no fewer than 200 girls were abducted from Government Girls’ Secondary School, Chibok, Borno, Boko Haram terrorists on April 14, 2014.

    A few of the girls were reported to have, at different times, escaped from their captors. But, in October 2016, 21 of the girls were released by the insurgents after some talks with government agents.

    On Saturday, another set of 82 girls regained freedom from the group after negotiation which involved the swap of five insurgents held by the government, for the girls.

    The method had since elicited mixed reactions, with some lauding the strategy while some condemned it.

    Nwagwu commended President Muhammadu Buhari for adopting swap negotiation to secure the release of the girls, saying it was a right approach.

    He advised that when dealing with terrorists, the doors of negotiation should not be totally closed.

    “I am overjoyed that the girls were released; it is also exciting that the president adopted negotiation method for their release.

    “I also congratulate those who worked in the background to make it happen by ensuring that the negotiation was not stalled.

    “The carrot and stick method used with Boko Haram is not out of place at all, because when dealing with terrorists, it is not good to shut the door on negotiations.

    “For those who doubted whether the Chibok girls’ abduction was true, it is rather unfortunate because when dealing with terrorists anything is possible,” he said.

    Similarly, Mr Frank Tietie, Executive Director, Citizens Advocacy for Social and Economic Rights (CASER), said the negotiation for the release of the girls was a welcomed development.

    Tietie said this was something that should have been done a long time ago, adding that it was a good approach that was well handled.

    “The president has shown that he values the lives of the girls above the pride of military victory by negotiating.

    “It is a welcomed development and highly commendable that the president finally showed concern to exchange Boko Haran prisoners for the girls, though it took some time.

    “However, I am glad that the girls are here and I urge that negotiation should be sustained for the release of the rest,’’ he said.

  • Agency to use renewable energy, rural electrification

    The Rural Electrification Agency (REA) says it will focus on renewable energy and off-the-grid solutions for rural electrification of Nigeria.

    The new Managing Director of REA, Mrs. Damilola Ogunbiyi stated this in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday.

    “One of the first things we are going to do next week is to have the project team led by the ED (Executive Director) Technical identify the status of all the projects and come up with a proper master plan on how we can tackle them.

    “While also focusing on the new projects that the minister mentioned; the university project is a critical project for us.

    “Then the Hydro project he mentioned; and the small-scale solar project. That is not necessarily rural; it is also in urban centres.

    “So we really see ourselves as an access agency to get power to people who do not have it regardless of where they are; either in urban or the rural areas.

    “We are going to do it using a completely different variety of renewable energy technology and some off-the-grid solutions as well.’’

    Ogunbiyi said that the new management of REA was fully committed to achieving the mandate of the agency by providing power to the most vulnerable in the society.