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Tag: John Ofikhenua

FG privatizes 142 enterprises – Osinbajo

The National Council on Privatisation (NCP) has since inception successfully concluded the privatisation and reform of over 142 public enterprises, according to Acting President, Professor Yemi Osinbajo.

He made the disclosure during the inauguration of the Fifth Council of the National Council on Privatisation (NCP) since the enactment of the Public Enterprises (Privatisation and Commercialisation) Act 1999.

He pointed out that the inauguration of the NCP is a critical step in the process of putting in place part of the institutional framework necessary for the actualization of the socio-economic agenda of the administration.

The Head Public Communications, Mr. Chukwuma Nwoko, who disclosed this in a statement yesterday quoted him as adding that: “It is also a demonstration of our administration’s commitment to public sector reform and the central role of the National Council on Privatisation (NCP) in this process. Even though the public sector has been at the

Even though the public sector has been at the centre stage in the provision of critical infrastructure and services cutting across the whole spectrum of the nation’s life since independence, the emerging importance and centrality of the private sector to the actualization of the economic agenda of the administration cannot be downplayed.”

The Acting President stated that apart from playing a dominant role of generating employment opportunities, the intervention of the private sector enhances the process of industrialisation, delivers critical infrastructure and services the country.

To him, the role can only be unleashed when government’s role of regulating and creating an enabling environment is robustly undertaken.  “This will, in turn, offer the private sector the required comfort and assurance to make investments and expect a reasonable return on thereon,” he said.

He pledged the administration’s commitment to giving all the required support to the NCP in carrying out its statutory responsibilities.   “In return, the Government expects the NCP to come up with creative out-of-the-box solutions for addressing the numerous challenges facing the privatisation and commercialization programme such as non-performance by some privatised enterprises and post-privatisation challenges facing some of the privatised enterprises,” he added.

“The Government also expects the NCP to make measurable progress in respect of the outstanding transactions affecting some of the areas critical to the economic recovery of the nation.  You must make deliberate and conscious efforts to learn from past experiences and guard against avoidable mistakes of the past.”

The Acting President explained that over the years, the NCP had concluded significant transactions and carried out economic reform activities in key sectors of the economy such as telecommunications, pension management, ports, power, etc.   Said he: “A mega reform process in the power sector is ongoing with ambitious expectations. Although there are numerous challenges trailing the process, the NCP is expected to critically analyse these challenges and come up with sustainable solutions as part of government commitment to make power available at accelerated rates and to wide sections of the populace.”

In his remarks, the Director-General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh, noted that recently a trend has emerged where certain institutions engage in activities which are tending to compromise and conflict with the statutory functions of the Bureau.

According to him, “we believe that regulatory agencies and commissions should manage regulatory compliance and not get involved in process as transactions managers or operators as this will clearly create confusion and possible conflict. The Bureau of Public Enterprises operates as transaction managers and we shall submit our processes to the supervision of the relevant regulatory agency responsible for the particular transaction track we pursue to execute our mandate of enterprise reformation, including the SEC and the ICRC.”

Members of the NCP which is chaired by the acting President are Mrs. Kemi Adeosun, Minister of Finance, as Vice Chairman; Mallam Abubakar Malami, SAN, the Attorney General of the Federation; Mr. Okechukwu Enelamah, the Minister of Industry, Trade and Investment; and Senator Udo Udoma, Minister of National Planning.Others are Hajia Habibat Lawal, acting Secretary to the Government of the Federation; Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria; Dr. Adeyemi Dipeolu, Special Adviser to the President on Economic Matters; Mr. Ituah Ighodalo; Mr. Ghandi Olaoye; Senator A.A. Ibrahim; Dr. Bashir Gwandu; and Mr. Alex Okoh, Director General of the Bureau of Public Enterprises (Member/Secretary.)

Others are Hajia Habibat Lawal, acting Secretary to the Government of the Federation; Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria; Dr. Adeyemi Dipeolu, Special Adviser to the President on Economic Matters; Mr. Ituah Ighodalo; Mr. Ghandi Olaoye; Senator A.A. Ibrahim; Dr. Bashir Gwandu; and Mr. Alex Okoh, Director General of the Bureau of Public Enterprises (Member/Secretary.)

June 22, 2017
Nigeria, Malaysia move to strengthen Maths skill with Abacus

Experts in education development on Wednedsday urged Nigerians to adopt the SIP Abacus teaching method that has origin in Malaysia to strengthen Mathematics skills in Nigeria.

According to the founder of SIP Worldwide, Mr. Kelvin Than, being a Sociable Intellectual and Progressive (SIP) way of aiding learning, Abacus has been used to coach 500,000 kids between five and twelve since 1993 in India, Philippines, United Arab Emirates, Tanzania, South Africa and other countries.

Speaking during the formal launching and presentation of the SIP and Brain Gym in Nigeria in Abuja, he noted that all children are born smart without skills.

The Malaysia High Commissioner to Nigeria, Mr. Datsun Lim in his address Abacus has arrived Nigeria to introduce Mathematics to students.

The envoy explained that the brain gym is like motivational group activity to arouse the interest of children in learning.

He said that “as you know, when we were young, sometimes going to school sometimes may not be a very good experience. When it comes to subjects, I think mathematics is something that a lot of people are afraid of, Abacus is one of the ways to introduce mathematics to children. The introduction of Abacus to Nigeria is new to Abuja but not in Nigeria.”

The Guest Speaker, from the University of Ibadan, Prof. Egbokhare Ilevbare noted that in the process of globalisation skills are more important that possession of natural resources, stressing that it is no excuse that you cannot fit into the international scene because you are a Nigerian since the tools are available.

He said because competition and education are no longer local, Nigerians are partnering with Malaysia to replicate the Abacus teaching method of the same standard in the country.

Speaking, Dr. Bert Odiaka noted that a time will come that parents will not send their wards to schools that have not adopted the Abacus learning method.

But the chairperson Educraft, SIP Academy, Mrs. Omolara Omontuenmhen, who got the franchise to replicate the method in Nigeria, explained to journalists that Abacus is brought from Malaysia to teach Mathematics in a fun way.

Abacus, she said, “takes the children through how to understand the basic things (addition, subtraction, multiplication and division) within the shortest period.

“And then when they get to Primary School we teach them how to cram. We teach them ten times twelve and when they get to twelve times twelve that is the end because they cannot go further and that is when Abacus starts. This is because Abacus will tell you 50 times 55, you have to understand how to get it within one minute.”

She noted that since most parents know that children that lack the Abacus learning skill find it difficult to cope or fit in when they play globally, they now opt for Abacus for their children.

According to her, those that studied Sciences here without Abacus find it difficult at the international schools owing to the method of learning in Nigeria. This has always put the wards under pressure to catch up with their colleagues from other nations.

Omontuenmhen said that: “this is a Programme we have brought from Malaysia to aid our children in schools, especially at the elementary stage when they bring Abacus to teach them Arithmetics and how to add, subtract, divide, multiply and in a fun way.

“This is because in schools these days, children have a phobia for Maths. Why? It is probably because of the way Mathematics is being introduced. But we need to start in the Arithmetic way in a way that it is fun.

“A lot of schools these days claim to be doing Montessori but they do a great job especially at the nursery level but there is no continuity. They drop the idea of Montessori when they get to secondary schools.

“But this is the continuation of Montessori which people adopt at the formation stage which is from five years to twelves years.”

On brain gym, she said a child needs to know how to put an analytical process down in a domestic way.

The gym, she said, prepares the child for learning as it helps in the coordination of the child to be able to receive learning.

June 21, 2017
BPE to firm: Conclude equity investment in 60 days

The Director-General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh, has given Lead Capital Consortium a deadline of 60 calendar days to conclude the strategic equity investment by the National Sovereign Investment Authority (NSIA) into the Nigeria Commodity Exchange (NCX).

The deadline was given on Wednesday at the kick-off meeting of the advisory services for the transaction. He pointed out that the main aim of the meeting was to formally introduce the appointed advisor, Lead Capital Consortium, to the key stakeholders including Federal Ministry of Industry, Trade and Investment (FMI&TI), Federal Ministry of Agriculture and Rural Development(FMA&RD), Federal Ministry of Finance(FMF), NCX and NSIA, and to signal the commencement of the advisory service.

Lead Capital Consortium emerged the preferred advisor after a competitive bidding process using the Quality and Cost Based Selection Method (QCBS).

Head Public Communications of the BPE, Mr. Chukwuma Nwoko that made this known in a statement onn Wednesday quoted Okoh as saying that: “This assignment as outlined in the work plan, commences today, June 21, 2017 and to be concluded within a period of 60 calendars days, unfailingly. We, therefore, solicit for the continued support and cooperation of the stakeholders to ensure that this transaction is delivered within the timeframe envisaged.”

He pointed out that the transaction is unique in the sense that unlike in the traditional privatisation transaction approach where a private sector entity is brought in to acquire government shareholding and take over the management and operation of the public enterprise, “here a Government entity is making a strategic investment in NCX. This is to enable NCX have access to investment capital to develop the infrastructure to carry out its business effectively in facilitating trade and developing settlement instruments and platforms in agricultural produce and basic minerals.”

The Steering Committee of the National Council on Privatisation (NCP), chaired by the Honourable Minister of Industry, Trade and Investment, was charged with the responsibility of midwiving the revitalisation of the NCX through the approved strategic equity investment in the exchange by the NSIA.

The BPE DG noted that “it is envisaged that within a period of 3-5 years, NCX would have been sufficiently transformed to attract high calibre private sector investors to take over. As such it is very important that an effective monitoring mechanism is put in place to ensure that the investments are prudently used and the business plan faithfully implemented.”

Okoh thanked the Chairman of the National Council on Privatisation (NCP) who approved that the operations of the NCX should be revitalised through a Strategic Equity Investment by the NSIA for a period of 3 – 5 years.

June 21, 2017
Indonesia to build 10,000bpd refinery in Nigeria

The Federal Government’s plan to attract investment in modular refineries as part of efforts to boost local refining capacity has started gaining momentum with an Indonesian firm, PT Intim Perkasa Nigeria Ltd, a subsidiary of PT Intim Perkasa, Indonesia, indicating interest to build a 10, 000 barrel per stream refinery in Nigeria.

Mr. Adi Hartadi, the Head of Investor Relations of PTPP (Persero) Tbk, partners to PT Intim Perkasa Nigeria Ltd, who disclosed this in Abuja during a business meeting with the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, stated that the proposed refinery would be located in Akwa Ibom State.

According to the Nigerian National Petroleum Corporation (NNPC) Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, that disclosed this in a statement on Wednesday, the refinery, a modular one, will have refining capacity for 10,000 barrels per stream day.

Mr Hartadi stated that their company has more than 50 years of experience in construction and engineering and it was desirous of diversifying into downstream operations in Nigeria.

Responding, the NNPC Group Managing Director, Dr. Maikanti Baru, who was represented by the Chief Operating Officer (COO), Refineries and Petrochemicals, Engr. Anigbor Kragha, stated that NNPC placed a high premium on investment in the nation’s refining sector.

The GMD stated that the Corporation had a Greenfield Refinery Department that specialised in new refinery projects and also provided professional support to potential investors in a modular refinery in the country in line with the Federal Government policy on modular refineries.

He explained that the country’s three refineries with a combined capacity of 445,000bpd could not function optimally over the years due to lack of investment, adding that NNPC would give necessary support to the Indonesian Company interest in the downstream sector.

“On our end, we have embarked on ambitious plan to fast-track programmes to restore our capacity utilization from 30 percent to a minimum of 90 per cent in the next 24 months. To do that, we are working on securing financing from third parties, not just funding, but also technical expertise to help us increase our performance to world class levels that they should be,” Dr. Baru stated.

He explained that given Nigeria’s expected population, by 2025, more than 40 million litres of petrol would be required for local consumption, adding that the combined capacity of the nation’s 3 refineries would only be able to satisfy just above 50 per cent of the projected local demand.

He expressed optimism that with this kind of investment coming steadily, Nigeria could serve as a regional hub of refined petroleum products for West Africa and beyond.

He called on the investors to be mindful of clean fuel policy across African countries and ensure that they produce fuels that meet specification with regards to sulphur content.

Earlier, Dr. Dwiyatna Widinugraha, Third Secretary for Economic Affairs, Indonesian Embassy in Nigeria and the leader of the Indonesian delegation, stated that the visit was a follow-up to the earlier visit by the Indonesian envoy to NNPC, the bilateral meeting between the Indonesian Trade Minister with his Nigerian counterpart as well as the visit of Indonesian Prime Minister to Nigeria.

It would be recalled that the Indonesian Ambassador to Nigeria, Mr. Harry Purwanto, had recently expressed interest in purchasing more crude oil from Nigeria during a courtesy call to the NNPC GMD, Maikanti Baru.

June 21, 2017
NNPC station reduces diesel price to N160 per litre

A market survey that The Nation embarked upon on Tuesday confirmed that The Nigerian National Petroleum Corporation (NNPC) mega station on the Olusegun Obasanjo Way, Abuja sold the Automative Gas Oil (AGO) also known as diesel for N160 per litre.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that its members have reduced the price of diesel to N170 per litre.

Speaking with Nation on phone, its National Vice President, Alhaji Abubakar Maingadi, said that the price reduced from last week N180 and N190.

He, however, attributed the decline to the deregulation of the price by the Nigerian National Petroleum Corporation (NNPC).

He said that the “price is coming down because of deregulation,” urging the federal government to deregulate the entire petroleum sector.

The National Vice President noted that the price of Premium Motor Spirit (PMS) will also crash if the NNPC deregulate its price.

The Corporation’s General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu had on Sunday said that the price dropped by 42% owing to the NNPC strategic intervention efforts.

He recalled that the product’s retail prices as at the end of May 2017 ranged from N175 to N200 across the country (a significant price drop of about 42%), while ex-depot prices also dropped to between N135 and N155.

While our correspondent was at Total stations yesterday they sold for N195 per litre in virtually all their sales outlets. A sales representative at Opposite Febson Mall, Wuse, said that the product previously sold for N220 per litre.

Azman Petrol station sold the product N180 per litre.

June 20, 2017
Oil pipeline vandalism reduces by 12 per cent

The extensive engagement with oil and gas community stakeholders embarked upon by the Federal Government and the Nigerian National Petroleum Corporation (NNPC) has continued to yield positive results with the attainment of 12.77 per cent reduction in downstream pipeline vandalism.

According to the April 2017 NNPC Financial and Operations report released in Abuja on Monday, downstream pipeline sabotage decreased from 94 pipeline vandalized points in March, 2017 to 82 in April 2017, representing a 12.77% reduction relative to the previous month.

The Corporation’s Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu that made this known in a statement yesterday said that the April 2017 numbers also indicate substantial progress compared to corresponding period of April 2016 which recorded 214 incidents.

In terms of products availability within the period, the Corporation maintained adequate stock of over 1.2 billion litres of petrol sufficient for more than 34 days forward consumption.

It was also recorded that during the period, the NNPC in an effort to reduce to the barest minimum the incidences of fire outbreak in the 21 depots across the country, received bids from no fewer than 37 companies to supply six triple agent firefighting trucks for the operation of the Nigerian Pipelines and Storage Company (NPSC), one of the downstream subsidiaries of NNPC.

The report noted that NNPC has continued to import Automotive Gas Oil (AGO) and Aviation Turbine Kerosene (ATK) to supplement local refining, while the Central Bank of Nigeria, CBN continues to make available foreign exchange to marketers to import AGO and ATK.

The April 2017 report which is the 21^st edition of the NNPC Financial and Operations report also noted that average national daily gas production stood at 242.32 Billion Cubic Feet, BCF or an average of 8,077.19 Million Standard Cubic feet per day, representing 6.79% increase relative to the previous month.

Comparatively, the daily average natural gas supply to gas power plants slightly decreased to 672mmscfd (or equivalent to power generation of 2,787 MW in April, 2017) relative to 689mmscfd recorded in last month. However, this supply is also 22.85% higher than the corresponding supply recorded in April 2016 of 547mmscfd, the report stated.

June 19, 2017
OMPALAN youths to north: Retrieve Igbo eviction notice

Youths of 19 Northern States under the platform of (Oil and Solid Minerals Producing Area Landlords Association of Nigeria (OMPALAN) have reacted to the quit notice which Coalition of Northern Youths have given to Igbo, urging that they (northern youths) should retract the notice for peace to reign.

The reaction was the outcome of the meeting that the association’s youths in the 19 Northern States held in Abuja.

According to the Secretary, OMPALAN National Youth Affairs Committee & Leader, Mr Steve Ogebe in a statement yesterday, the coalition has ignited a fire that it may not be able to put out.

The statement said: “We want to use this medium to sound a note of warning to the belligerent and misguided youth elements fronting as ‘coalition of northern youths’ to retrieve their treasonable statement immediately and allow the sleeping dog to lie.

“The unguided utterances by these belligerent and uninformed youth elements amount to ‘sowing the wind’ because they are unconsciously engaging in a macabre dance they may not finish.

“It is an incontestable fact that sovereign Nigeria is bigger than the egocentric interest of any component part. Nigeria is one united and indivisible sovereign Country which must be jealously preserved and any attempt by disgruntled politicians to scuttle the nation’s hard-earned democracy will be met with very stiff resistance.

” It is to be noted that Nigerians have built solid bridges of peace across ethnic and religious divides over the years- cementing age-long fissures that were generated by ethnic and religious bigotry. Nigeria is far from 1966 – making the success of the ethnic war in 2017 very remote.

“This means that an Igbo man will protect a northerner if threatened in the east and vice-versa.
Mistakes have been made in the past by our political leaders and we cannot continue to live in the past as a progressive nation. Let us throw the bitter past into the trash can of history and forge ahead into the future as a people with a common destiny impelled by the rule of law.”

The OMPALAN youths, however, called on the Igbo living in the north not to yield to the blackmail of disgruntled politicians who want to use them breach the law for a sudden change of government.

They urged the citizenry to defend the nation’s democracy, stressing that all Nigerians have the right to reside in any part of the country.

Continuing, the statement said that the ” Federal and State authorities should come out openly and resolutely to stop the open treasonable actions by some misguided youths working in concert with aggrieved politicians.

“Our leaders should also look at the other side of the coin to appreciate the dire consequences of not acting proactively to nip in the bud a fast-growing danger that is progressively pushing the entire Country to the throes of anarchy.

“The orchestrated action by the so-called coalition of northern youths can provoke a dangerous domino effect across the length and breath of sovereign Nigeria with the concomitant effect of plunging our beloved Country into an irreversible trauma if not confronted head-on with the seriousness it deserves.

“Our political leaders must defend their oath of office and come out openly and resolutely to ‘kill’ the rampaging hydra-headed monster that is openly threatening national peace and stability before it ‘kills’ the whole Nigeria.

“We also wish to use this medium to caution aggrieved ethnic nationalities in Nigeria to exercise maximum restraint and avoid unguided statements in order to sustain the polity. The two dominant religions of Islam and Christianity in Nigeria preach peace and tolerance.

“True Christians and Moslems must, therefore, work cooperatively together to protect this sacred religious asset of peace and tolerance for the good of the nation. Nigerians must not succumb to the secessionist rhetoric of a mindless and ungodly cabal that is waging a spirited war to hang on perpetually to the levers of power in a vast multi-ethnic political entity.

“Respect for the rule of law is sacrosanct and is the only guarantee of peace, progress and prosperity in secular Nigeria. Our unity in diversity is a rare asset that must be exploited positively to launch the Country on a lofty pedestal of international fame. Any action that will lead to civil war must be collectively and proactively nipped in the bud to save the Country from the bitter ravages of war.

“Those who ‘sow the wind’ as the saying goes may be oblivious to the bitter consequences of reaping the ‘whirlwind’. The international community must not remain mute and bury their heads in the sand like the proverbial ostrich pretending that all is well while our shared institutional values are been threatened by religious bigots who metamorphose into terrorists at will and equally threaten their institutions. The whole civilised world must present a common front against any threats to enshrined democratic values.”

June 16, 2017
DisCos promise to achieve metering soon
- Say only MD customers are exempted from payment
The Association of Nigerian Electricity Distributors (ANED) promised to achieve metering of their customers sooner than later.

It reiterated that only Maximum Demand customers are exempted from payment of electricity bills in absence of meters.

The association that is an umbrella body of the 11 electricity distribution companies (DisCos) yesterday made the clarification in a statement.

The statement reads in part: “the Association of Nigerian Electricity Distributors (ANED) hereby provides clarification on the information contained in certain recent publications, on the notice issued by the Nigerian Electricity Regulatory Commission, (NERC) on the metering of Maximum Demand (MD) customers.

“The publications have, erroneously, stated that the requirement of non-payment of electricity obligations, in the absence of the customer not being provided with a meter, applies to all electricity consumers. This is incorrect. For clarity, this requirement only applies to, and is specific to MD customers and not residential customers.

“For further clarity, MD customers are commercial and industrial customers who consume high levels of electricity and contribute substantially to the revenues of Distribution Companies (DisCos). The consumption threshold for MD customers is 45KVA.The MD meters are connected on the 11Kv (High tension wire) electricity lines, mostly on dedicated transformers. The customers include heavy users of electricity like commercial business plazas, large firms, and small-scale industries among others.”

“We recognise that significant interest in the NERC notice is directly linked to our customers’ requirement that they be metered. And rightly so. It is critically important that we state that there is no more interested party in the comprehensive metering of our electricity consumers than the DisCos. And this is because we understand and fully appreciate the importance of the balance between electricity consumers tracking their consumption versus DisCos having a measure of electricity supplied to their customers, that metering brings. It is our hope and expectation that such metering will be achieved sooner rather than later.

“While we continue to operate with the estimated billing methodology that is approved and mandated by NERC, we are working diligently towards addressing the metering obligations specified under our Performance Agreements with the Bureau for Public Enterprises (BPE), as well as ensuring that we continue to be sensitive and responsive to the inadvertent challenges of estimated billing that our residential or non-MD customers are faced with.

“Again, please note that the NERC directive ONLY applies to MD customers and not residential customers. NERC has made the clarification as well, which is available on their website and publicised.”
June 14, 2017
BPE to directors: Violate code, face EFCC, ICPC
- Institutes code of ethics for alternate directors
The Bureau of Public Enterprises (BPE) is placing investigation, sanction, sack and wrath of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Crimes Commission (ICPC) ahead of its directors.

A highly place reliable source at the Presidency, who made this disclosure to The Nation in Abuja on Wednesday, added that the sanctions are part of the measures to tackle corruption in the Code of Ethics that the new Director General of the Bureau, Mr Alex Okoh has instituted.

Enforcement and compliance with the code of ethics by directors and alternate directors shall be part of the monitoring mandate of the Anti-Corruption and Transparency Unit (ACTU) that the ICPC will inaugurate on Friday.

According to the source, “the BPE has instituted a code of ethics for directors and alternate directors representing BPE on boards of privatised enterprises on behalf Federal Government of Nigeria.”

It was however learnt that the code of ethics applies to the director sitting on the board of privatised enterprises in which the federal government has equity or interest and any such person that may be nominated to act as alternate director of the directors’ behalf.

A document that The Nation stumbled on in Abuja said that “in the event that the director/alternate directors violate the terms of this code of ethics, the bureau shall impose appropriate disciplinary measures of impropriety as contained in S.14 of the BPE staff manual.

This would be without prejudice to the penalties imposed under the Corrupt Practices and Other Related Offences Act 2000; Economic and Financial Crimes Commission Act, 2004; and any other relevant laws.

“In addition to sanctioning regime contained in Clause 14 of the BPE Staff Manual, the Director shall withdraw the nomination of Alternate Director found culpable of violating this Code of Ethics.”

The Director General had on assumption of office on April 21 said that his administration would also work to sustain the positive image of the Bureau while at the same time strive to change the negative perception held by some people about the BPE in the execution of its mandate.

He promised to step up the post-privatization monitoring activities of the Bureau to ensure that owners of privatised enterprises live up to the covenants they signed with the Bureau so that Nigerians could derive maximum benefits from the privatised enterprises.

The code of ethics for director/alternate directors that he has now instituted is that they (directors) “Report to the Bureau any concerns about unethical behaviour, actual or suspected fraud or violation of the Enterprise’s Code of Conduct Policy.

“Act within his authority to protect the legitimate interest of the Enterprise, the FGN, Shareholders and its Employees.

Where he has concerns about the running of the Enterprise or a proposed action, ensure that these are addressed by the Board and to the extent that they are not resolved, insist that the concerns are recorded in the minutes of the Board meeting.

“Refrain from intruding in administrative issues that are the responsibility of the management of the Enterprise, except to monitor the results and ensure that procedures are consistent with Board Policy.

“The Director/Alternate Directors shall ensure that their interaction with other Board members and representatives of the company before a Board meeting or a Board function are above board with no real or perceived indication of compromise on his part.

” The Director/Alternate Directors shall ensure that decisions on aspects that are provided for in the acquisition documents with the Bureau must be adhered to. Where there is the insistence of going against enshrined provisions in divestiture Agreements, the Director/Alternate Directors must insist on being recorded as disagreeing with the decision.

The Director/Alternate Directors shall develop the ability to listen well, courage to speak up, patience and capability to ask the tough, probing but tactful questions in a way that doesn’t alienate others and that is helpful, not embarrassing, to the management of the Enterprise.

“The Director/Alternate Directors shall ensure that critical matters that have come before the Board for consideration have first been filtered and considered by the relevant Sub-Committees.

“The Director/Alternate Directors shall undertake the diligent analysis of all proposals placed before the Board and act with the level of skill expected from Directors.

“The Director/Alternate Directors shall carry out their fiduciary obligations responsibly, that is, to take appropriate measures to ensure that the Board uses the Enterprises resources efficiently, economically and effectively, avoiding waste and extravagance; and

“Attend the interaction forum for Board Members within the Bureau as a peer review tool and also a learning curve for future improvement.”

It was, however, learnt that the tenure of an Alternate Director so designated by the Director shall be one year, subject to renewal for a maximum of one more year, at the discretion of the Director-General.
June 14, 2017
Only maximum demand customers exempted from bills – NERC

The Nigeria Electricity Regulatory Commission (NERC) on Tuesday said that the only customers exempted from estimated billing are those within the threshold of 45KVA consumption and above.

According to a statement that Assistant General Manager Media, Mrs Vivian Mbonu issued in Abuja yesterday, the explanation further to the directives over the weekend on the verification and validation of the Maximum Demand (MD) electricity customers metering exercise.

The statement noted that “the Commission wishes to clarify that the affected electricity customers are those within the threshold of 45kVA consumption and above.

The Directive to exempt MD customers from estimated bills was sequel to an earlier Directive of the Commission to the 11 Distribution Companies (DISCOs) to completely meter all their MD customers on or before 31st November 2016. However, the DISCOs sought for and were granted an extension to 1st March 2017.”

The Commission directed over the weekend that no MD customer should henceforth be billed based on estimation to further validate the confirmation and assurance given by the DISCOs that all such customers are now metered.

It was further directed that no “electricity distribution company shall disconnect any Maximum Demand electricity customer that was not metered by March 1, 2017, on the basis of the customer’s refusal to pay a bill issued after the compliance deadline on the basis of estimated billing methodology.”

Any maximum demand electricity customer so affected was also advised to promptly report any attempt to disconnect it on the basis of refusal to pay estimated bill issued after March 1, 2017, to the Commission.

The underlying rationale to this directive is the effect that since this category of customers have been completely metered as directed by the Commission and reported by the DISCOs, no MD customer should be issued with estimated bills.

For non-MD unmetered customers on their networks, electricity distribution companies have been warned to adhere strictly to the Commission’s approved estimation methodology in accordance with the Estimated Billing Methodology Regulation.

Electricity customers are also advised to avail themselves of the Commission’s redress mechanism in instances of contested bills before seeking legal advice.

June 13, 2017