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  • FG, investors to capitalise DisCos with $4.7b

    The Managing Director, Transmission Company of Nigeria (TCN), Dr. Usman Gur Mohammed, on Monday said that shareholders of the electricity distribution companies (DisCos) that consist of the Federal Government and the private investors in the firms, are to jointly raise $4.7 billion to recapitalize the firms to upgrade power distribution equipment in the country.

    Upon the privatization of the 11 Discos of the Nigeria Electricity Supply Industry (NESI) in 2013, the Federal Government retained 40 percent of the equity in the DisCos and divested 60 percent to private investors.

    Power supply has however remained epileptic as the DisCos complained about lack of cost reflective tariff and the government refusal to activate its stake in the companies.

    But Mohammed who broke the news of government’s plans to upgrade the distribution network yesterday in Abuja, noted that the Federal Government is ready to inject $1.7billion into the DisCos while the private investors are expected to pay up the balance that is proportional to their 60 percent equity in the companies.

    From the plan, which stated that the DisCos have 8million customers, each of the DisCos is expected to raise $500million and the Nigerian Electricity Regulatory Commission (NERC), according to the plan, is expected to make a declaration that all the procurement processes for the equipment shall be competitive.

    Commenting on how to raise the fund, Mohammed said that “this money can be raised. The government was about to collect $1 billion from the Word Bank for DisCos to finance the capitalization of the DisCos. AfD and others are talking about another $1billion for distribution expansion.

    “NERC should do a regulation consistent with the declaration of ECOWAS directive that all procurement of DisCos and transmission should be done competitively so that this money that will come in, and it will not be squandered by people giving contracts to their cousins and wives.”

    He was emphatic that the private investors would not raise their loans from commercial banks, stressing that “this money has a repayment period of about 20 years and a moratorium period of about five years. So, they (private investors) should bring the same type of money.”

    According to him, the recapitalization that is expected to boost power distribution throughout Nigeria, will also lead to increase in tariff.

    He said that with the moratorium of five years, it means there will be fund to reduce the Aggregate Technical and Commercial losses, which is now an average of 50 percent.

    In the next five years, a reduction of the losses is also expected to bring down the tariff so if there is going to be any increase, it will be marginal.

    The TCN boss said that “Tariff may go up as a result of the fact that there is going to be repayment of those capital and also payment of interest.”

    Accepting that government was right to have privatize the companies, the TCN chief added that the only mistake that the government committed in the privatization exercise was that of the capitalization of the DisCos.

    He noted that the firms were privatized to investors that have no financial capability to run them but succeeded in deceiving the country with foreign technical partners that pulled out immediately after the privatization.

    Stressing that government cannot remain passive in the operation of the DisCos, Mohammed revealed that government ownership must be represented by four directors in the firms.

    Read Also: Fate of DisCos shaky as govt plans other options

    His words: “What we are saying is that to correct this thing, we have to recapitalize the DisCos. The recapitalization requires $4.3billion, which means they have to bring the balance. What we are saying is that government cannot be passive anymore… Government ownership should be represented by four directors just like proportional to the investment. Government should bring its own 40 per cent capital. We have simulated the grid to examine the investment requirement by the DisCos. And we have come to $4.3billion. Government is going to bring its 40 percent of $4.3billion which is about $1.7billion.”

    Mohammed submitted that “what I think that Nigerians should do is that either we have power or we play politics.”

    He revealed that the TCN is working toward the attainment of frequency control of which it has already recorded 60 percent.

    According to him, the TCN has given the GenCos such as Transcorp Power Generation an ultimatum to put in place their frequency control.

     

  • Okorocha: INEC meets Tuesday to decide on certificate of return, others

    Except a miracle happens, former Governor of Imo state, Rochas Okorocha may not be part of the inauguration of the 9th National Assembly on Tuesday.

    Consequently, he will not be directly involved in the making of the leadership of the Senate.

    The Independent National Electoral Commission (INEC) says it will be meeting on Tuesday to look at the Court rulings.

    Read Also: Court faults INEC’s refusal to issue Okorocha Certificate of Return as senator-elect

    The 9th National Assembly will be inaugurated on Tuesday and the election of leadership of the Senate and House of Representatives is also expected to emerge at its first plenary session the same Tuesday.

  • I’m still in Deputy Senate Presidency race, says Orji Kalu

    The National Working Committee (NWC) of the All Progressives Congress (APC) has not adopted Senator Ovie Omo-Agege as Deputy Senate President, a leading contender for the position, Orji Kalu, has declared.

    The Abia North Senator-elect also debunked he has withdrawn from the race.

    The National Publicity Secretary, Mallam Lanre Onilu, had on Monday morning issued a statement the National Working Committee has formally adopted Senator Ovie Omo-Agege as the party’s candidate for the position of Deputy Senate President.

    Kalu, who had some days ago met behind closed doors with President Buhari, disclosed the President only adopted the candidacies of the duo of Senator Ahmed Lawan and Hon. Femi Gbajabiamila for the positions of Senate President and Speaker of the House of Representatives respectively.

    Buhari, he said, only stated anyone is free to contest for other principal positions.

    Read Also; Why Buhari should intervene in Oshiomhole, Oyegun’s feud, by Kalu

    In a statement by his media office on Monday and signed by Ken Cole, the former governor stressed as a staunch supporter of President Buhari and a loyal and committed member of the APC, he (Kalu) would always abide by the decisions of the President and highly respected members of the National Working Committee (NWC).

    He, however, said the speculation of the formal endorsement of Omo-Agege was the handiwork of selfish elements in the party who ware self-serving and desperate to cause disharmony among party stakeholders.
    Kalu said: “Ahead of tomorrow’s inauguration of the 9th national assembly and election of principal officers, politicians have started deploying different antics to satisfy their ambitions.

    “One of such is a statement credited to National Publicity Secretary of the APC, Mallam Lanre Onilu claiming that President Muhammadu Buhari and the NWC of the party have formally adopted Senator Ovie Omo-Agege as the party’s candidate for the position of Deputy Senate President.

    “I hold the President in high esteem as well as the National Chairman of our great party, Comrade Adams Oshiomhole and other members of the NWC and as such, I will not disobey any formal pronouncement by them.

    “However, I am still in the race to become Deputy Senate President because the President and the NWC have not adopted any candidate and as such the contest is open to all members of the party, who have the capability.

    “ I have the political dexterity, leadership qualities and goodwill to complement the efforts of the Senate President in actualizing the objectives of the legislature in support the efforts of President Muhammadu Buhari in taking Nigeria to greater heights.

    “Leadership positions in the 9th Senate should be given to people who have the will to support the agenda of the APC while not deviating from the ideals of democracy.

    “As I continue to mobilize support for the position of Deputy Senate President, I commend the President, Comrade Adams Oshiomhole and other stakeholders of the party for their support.”

    He added: “Come tomorrow by the special grace of God and to the admiration of APC members and Nigerians at large, I will emerge as Deputy Senate President in the 9th national assembly”.

    Kalu, while appealing to the leadership of the APC to give a level- playing ground for all contenders for the position of Deputy Senate President, who are APC members, maintained that he (Kalu) is still in the race except otherwise advised by the President or the party’s highest decision-making body.

  • Breaking: generator fume kills six in Imo

    No fewer than six persons have been reported dead and about thirty others on danger list after inhaling generator fume while attending a marriage ceremony in Umuomumu community in Mbaitoli Council Area of Imo State

    The victims who were majorly guests at the traditional marriage ceremony were evacuated from the celebrant’s house unconscious.

    ….Details shortly…

  • PDP Senator nominates APC lawmaker Kano Assembly Speaker

    The Kano State House of Assembly has elected the member representing Ajingi Constituency, Alhaji Abdulaziz Garba-Gafasa as the new Speaker of the 9th Assembly.

    The election followed his nomination by the member representing Dala constituency, Malam Lawan Hussain of the Peoples Democratic Party (PDP) on Monday during the first plenary session of the 9th Assembly.

    The Nation reports that the nomination was seconded by the member representing Gogewa Constituency, Alhaji Salisu Ibrahim-Riruwai.

    Gafasa was also the speaker during Malam Ibrahim-Shekarau’s second tenure as the governor of the state.

    The Assembly also elected the member representing Makoda constituency, Hamisu Cidari as the Deputy Speaker for the fourth time.

    The legislators elected the member representing Warawa constituency, Alhaji Ayuba Labaran-Madari .as the Majority leader, and Alhaji Kabiru Alasan-Dashi, representing Kiru constituency as leader of the assembly.

    Also, a member representing Gezawa Constituency, Alhaji Ali Danja was elected as the minority leader, with Alhaji Garba Shehu, representing Kibiya Constituency, as the deputy majority leader.

    Read Also: We’re not under any influence to probe Sanusi, says Kano anti-graft agency

    The Assembly also elected Alhaji Ayuba Labaran-Durum, representing Kabo constituency as the Chief Whip, while member representing Kura Garin-Malam, Alhaji Hayatu Dorawa-Sallau as the Majority Whip.

    In his acceptance speech after taking oath of office, the new speaker commended the legislators for giving him the mandate to lead the assembly as speaker for the second time.

    He assured to carry all members along irrespective of their party differences and pledged to ensure that laws that have direct benefits to the general public are enacted.

    The speaker said that the 9th Assembly would do everything possible to ensure more developmental projects in the state.

    According to him, we will work with other arms of government to ensure the state moves forward to compete with other developed countries.

    “We will ensure the enthronement of legislative autonomy.”

  • Nasarawa Assembly speaker re-elected

    The Nasarawa State House of Assembly on Monday re-elected Alhaji Ibrahim Balarabe-Abdullahi to serve as the Speaker in the 6th Assembly for second term.

    Balarabe -Abdullahi emerged speaker unopposed on Monday, during the inauguration of the 6th Assembly in Lafia.

    The speaker was sworn in by the Clerk of the State Assembly, Mr Ego Maikeffi Abashe.

    The Nation reports that Mr Nehemiah Tsetse Dandaura(APC-) member representing Akwanga North constituency was elected deputy speaker of the 6th assembly and returned unopposed.

    Earlier, Alhaji Mohammed Okpoku(APC-Udege/Loko) nominated, Balarabe Abdullahi for the position of the Speaker and was seconded by Alhaji Aliyu Dogara (APC-Wamba).

    Okpoku explained that the nomination of Balarabe Abdullahi was based on his leadership qualities and tracks records of achievements.

    Also, Alhaji Mohammed Muluku(APC-Nassarawa Eggon East) nominated Tsetse Dandaura from Akwanga North constituency for the position of deputy speaker.

    Mr Danladi Jatau(PDP-Kokona West) Seconded the nomination of Tsetse Dandaura for deputy speaker.

    The House unanimously elected Balarabe Abdullahi and Tsetse Dandaura as speaker and deputy speaker of the fifth assembly respectively.

    In his acceptance speech, the Speaker appreciated his colleagues for the rare privilege to serve them again as the speaker of the sixth assembly.

    Read Also: Insecurity: illegal mining causing insecurity – says Nasarawa Gov

    “I am on my feet to accept my nomination and election as the speaker Speaker of the 6th assembly.

    “I consider my nomination as an affirmation of my leadership in the last fifth assembly.

    He promised smooth working relationship in the 6thh Assembly.

    The Speaker, who said the 6th Assembly would consolidate on the gains already made for the benefit of the people of the state.

    NAN reports that security agent were on ground to forestall any break down of law and order.

  • We’re not under any influence to probe Sanusi, says Kano anti-graft agency

    The Chairman, Kano State Public Complaints and Anti-Corruption Commission, Barrister Muhuyi Magaji Rimingado on Monday declared that the commission was not under the influence of any person or group on the ongoing investigation into the financial dealings of the state emirate council

    Rimingado who spoke to reporters in his office said that the commission, as far as it is concerned is not joining issues with anybody in its investigation of the emirate over the alleged misappropriation because it is acting independently in line with section 8,9 and 15 of the Kano State Public Complaints and Anti-Corruption Commission Law 2008 (as amended).

    According to him, the commission is acting on petitions and complaints by concerned citizens of the state over alleged financial misappropriation by Kano emirate council under emir Muhammadu Sanusi II.

    “This investigation was not commenced at the instance of the government of Kano State but as a result of series of complaints by citizens of the state,” he said

    Read Also: Sanusi to Ganduje: There was no N3.4b for me to mismanage

    He stated that by virtue of section 8 of the Kano State Public Complaints and Anti-Corruption Law 2008 (as amended) which provides that” in exercising its powers under this law, the commission shall not be subjected to the direction and control of any authority, as such, the commission is not under the control and discretion of any authority or person.

    “The Chairman added that the commission’s preliminary report is only for the government to act administratively so that it can exercise its responsibilities without any interference and nothing more.

    “That as far as the commission is concerned this investigation is ongoing and the commission will do everything legally possible to deliver its mandated with respect to the case,” he said

  • Jime vs Ortom: Tribunal commences trial June 24

    The Governorship Election Petition Tribunal sitting in Makurdi, the Benue State capital has adjourned for 24th June 2019 for trial of the case between the All Progressives Congress (APC) governorship candidate in the just concluded 2019 elections, Barr. Emmanuel Jime and his Peoples Democratic Party (PDP) counterpart, Governor Samuel Ortom.

    Emmanuel Jime is challenging the return of Governor Samuel Ortom of Peoples Democratic Party ( PFP) as Governor of Benue State at the tribunal.

    Justice Adebola Olusiyi, chairman of the panel who issued the order at the end of prehearing said the “course is now clear and the stage is set for full trial.”

    According to Justice Olusiyi, there shall be strict compliance with the number of days parties are entitled to.”

    He noted that there is only one pending Motion on Notice which will be taken outside prehearing.

    Ortom’s lead counsel Sabastian Hon SAN, who responded on behalf of the Bar assured the panel of their cooperation towards ensuring that trial is conducted in line with the law.

    He thanked their Lordships for the conduct of proceedings thus far.

    Earlier, while ruling on application by INEC for an order striking out certain paragraphs of Jime’s reply, Justice Olusiyi held that the panel cannot depart from its earlier position, to defer ruling until the substantive petition is heard.

    Read Also: How Benue can grow, by Governor Ortom

    The chairman further held that there is no compulsion on the Tribunal to deliver ruling on applications before hearing the substantive petition.

    He accordingly differs ruling on the application pending hearing of the substantive petition.

    Similarly, Ortom’s application which was struck out last week and refiled was argued and deferred for ruling at the conclusion of hearing.
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  • Man arrested for stabbing priest in church

    A priest was stabbed by a man in a church in the Polish city of Wroclaw on Monday, local media reported.

    “The priest was taken to hospital with lung injuries and is in a stable condition,’’ a police spokesperson told Polish news agency PAP, adding that the attacker had been arrested save for his motive was as yet unclear.

    Read Also: Peruzzi under ‘fire’ for alleged physical assault of Twitter influencer

    Police said the attack occurred at 7 a.m (0500 GMT).

    Polish news website TVP.info reported that the attacker spoke to the priest, who was on his way to the altar to prepare mass, before suddenly stabbing him in the chest.

  • Peruzzi under ‘fire’ for alleged physical assault of Twitter influencer

    Fans on Twitter have continued to slam DMW singer, Peruzzi for physically assaulting social media influencer, Pamilerin, allegedly.

    Peruzzi and Pamilerin are currently number one and two trending topics on Nigerian twitter, following reports that the singer ordered his bodyguards to slap the influencer.

    In a post by eyewitness, @Vinavina01, Peruzzi allegedly ordered the attack because of Pamilerin’s tweets from January which insinuated that Teni the entertainer was a better artiste.

    @VinaVina01 wrote, “But I was disappointed today at the callousness of man. This dude @peruzzivibes got his bouncers to hold down @thepamilerin while he dished out the worst slap ever.

    “We got to find out later it was over a post he made in January,” it read.

    In the referred tweet from January, @thepamilerin wrote, “Peruzzi trying to compare himself to Teni. Uncle, calm down…wait till Teni wins next rated at the Headies.”

    Pamilerin confirmed the attack on Monday by sharing a picture of his red-eye and marks on his face in a series of tweets.

    He also tweeted, “The worst happened to me today, but they will be hearing from me shortly and surely. Let’s keep up the energy! #TheresStillFreedomOfExpression #DontForget!”

    Read Also: ‘The Delivery Boy’ is Oscar Award material – Film critics

    Fans have taken to Twitter to condemn the attack and chastise Peruzzi. Some fans called on his label boss, Davido to intervene.

    @OgbeniDipo said, “Sorry to read about this very unfortunate assault. Get him arrested, get a Lawyer and sue for damages.”

    @Proshpreem tweeted, “I just saw the video, all shades of unacceptable and wrong.”

    @Unclemidetush tweeted, “@thepamilerin, Sorry about what happened bro. He just lost his credibility and should be sanctioned.”

    @Mr_lamiee said, “Is that the best you could do @Peruzzi_VIBES ? You should take criticism and channel it towards your career.

    “Imagine how many people Davido, your boss would have to hit for telling him what he isn’t pleased with. No one is your boy. You deserve to be locked up.”

    @Osastheking tweeted, “Imagine Wizkid and Davido tracing all the people that have compared them and ask their bouncers to hold them while they dish out slaps.

    “Can you see how senseless it is? It can never happen because they know the kind of damages that come with the action.”

    NAN reports that Peruzzi is yet to address the issue officially. He came into limelight following his feature on 2baba’s hit song, ‘Amaka’.