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Tag: regulation

  • Regulation: Court to hear ARCON’s preliminary objection

    Barring all odds, an Abuja High Court will today hear an objection by the Architects Registration Council of Nigeria (ARCON) over an order stopping it from further conducting any qualifying examination towards registration of new architects.

    Justice Muawiyah Baba Idris of a High Court, Federal Capital Territory, Abuja Judicial Division, had recently given the order in a suit initiated by 13 persons.

    The plaintiffs include Ibrahim Kabir, Ayodeji Kolawole, Andy Imafidon, Dike Emmanuel, Opiribo West, Abimbola Ajayi and Emmanuel Ekeruche.

    Others are Nicholas Musa, who sued for himself and other interested registered architects; Ademakinwa Olajumoke, Babjide Awonubi, Siyanbola Kukola and Emmanuel Adewunmi, who also sued for himself and other aggrieved person that sat and passed the qualifying examinations conducted by the Nigeria Institute of Architects (NIA).

    They sued ARCON, NIA, Arc. (Sir) Dipo Ajayi, ARCON president and Arc. Njoku Adibe, president NIA.

    Following a motion ex parte by the plaintiffs, filed on 30 May 2019 and moved 30 July 2019, Justice Idris, a vacation Judge, after hearing plaintiffs counsel ordered:

    “An order of interlocutory injunction restraining ARCON from conducting and/or purporting to conduct any qualifying professional examinations by whatever name or form for the registration of architects in Nigeria whether by themselves, agents, servants, and/or privies, whatsoever and howsoever from purportedly conducting such examination pending the hearing and determination of the originating summons.

    The matter was then adjourned to  August 8, 2019.  But due to power failure the court could not sit as planned.  Thursday,  August 22 was then fixed for the hearing.

    Days after the order, ARCON filed a preliminary objection challenging the order.

    Specifically, according to ARCON, which regulates the profession and practice of architecture in Nigeria, two requests have been placed before the court.  One: an order of the court dismissing or striking out the whole matter for want of jurisdiction and, secondly; an order discharging and or setting aside the courts interlocutory order dated 30 July 2019.

    The Federal Governments agency is also asking the court for such further or other orders it may deem fit to make in the circumstances.

    Justifying its reasons for the objection, ARCON said the court lacks the requisite jurisdiction to adjudicate on the matter ab initio since the Federal High Court has the exclusive jurisdiction.

    Two, ARCON says the plaintiffs/respondents lack the locus standi to institute the action, contending that some of them are not registered and are not suing on behalf of NIA.

    Three, both the third and fourth defendants  Ajayi and Adibe were not personally served with the originating process in accordance with the rules of the court.

    Fourth, the matter was fixed for hearing during the annual vacation of the court without the consent of the defendants in accordance with the rules of the court.

    Fifth, the order by the court on  July 30, 2019 based on the claimants ex parte application moved the same date was a breach of the defendants constitutional right to fair hearing.

    The preliminary objection was supported by a 10-paragraph affidavit, stating why the Abuja High Court must hands off the matter.

    According to the applicants, the first defendant is an agency of the Federal Government and only the Federal High Court is conferred with the exclusive jurisdiction to entertain any legal claim against her.

    The affidavit averred to by one Casmir Amadi of Veritas Chambers, contends that both Ajayi and Adibe were not properly served with originating and other processes and therefore not made necessary parties for the court to have jurisdiction over them.

    It also says that the plaintiffs having no locus to initiate the process in the first instance and have not disclosed any reasonable cause of action.

    The applicants, for a matter to be heard during vacation, the parties involved, that is both plaintiffs and defendants shall collectively request for a date.

    They contend further that the defendant did not make any request or grant any consent in making request from the court in accordance with the rules of the court for the court to fix a date for hearing during vacation.

    To them, the claimants suit was brought in bad faith, just to waste the precious time of the court and as a ploy to distract the first defendant from discharging its statutory duties.

    Hearing resumes Thursday, 22 August 2019.

  • Factory accidents and failure of regulation

    The recent industrial accident at African Foundries Limited, a steel rebar and allied products factory in Ogijo, Ogun state, in which at least three Nigerian casual workers lost their lives and many injured, has once again, drawn attention to the goings-on in some factories owned by Asian companies.

    Eye witness accounts of residents and reports in the media have it that on Thursday, April 11, Amaechi Joseph, 40, Adedayo Dauda, 23, and David Jasper, 26, were killed in the early morning blast at the plant located along Ikorodu-Shagamu expressway.

    As contained in the publications, inside sources revealed that one of the victims, Amaechi Joseph, had a couple of hours before the explosion alerted his superiors to a malfunction in the steel-grinding mill or melting pot, but was directed to “continue his job, and that they would do the repairs at the weekend.”

    Joseph did not live to recount the disaster that followed, for a couple of hours after his observation, the melting pot exploded and a section of the plant engulfed in flames.

    And, curiously, the official reaction by African Foundries’ management did not tally with the reports in the media which were based on first-hand information provided by observers who were identified in the publication and workers who preferred anonymity. The company’s official statement that came through the Executive Director days after the accident seemed more diversionary and intent on absolving the management of blames, than giving a dispassionate account of the accident. The statement said the three victims had already closed for the day, “but were taking their bath in an open place; in an unauthorised location described as restricted area within the factory, instead of the normal factory bathroom,” when they were “accidentally touched by a splash of liquid metal from a furnace.”

    This incongruity in the accounts of the accident certainly raises the question as to whether some facts are not being deliberately suppressed.

    Was there an explosion at Africa Foundries {as witnessed and felt by the company’s workers and residents of the neighbourhood}, or was the accident that morning a mere “splash” of melted steel as claimed by the factory’s management? How true was it that the late Amaechi Joseph observed a defect in a furnace hours before the blow-up, and why was necessary action deferred till “weekend”? As recommended in the Factory Act, were the globally accepted safety procedures for hazardous industrial environments in place at Africa Foundries as at the time of the mishap? Are the factory workers registered with the National Social Insurance Trust Fund in line with the Employees Compensation Act?

    These are very pertinent questions that have not been answered, and the puzzles need to be untangled in the interest of the African Foundries workers and other Nigerians who may be engaged in unprotected factory settings elsewhere. That is why the government of Ogun state, where the company is located, should urgently institute an investigation into the incident. But that should not be all. Labour unions and the Federal Ministry of Labour and Employment owe the country a duty to ensure that an issue like this is never swept under the carpet. Perhaps, more than anything else, what should be of utmost concern to all Nigerians is the allegation by residents {in one of the newspaper reports} that explosions were frequent inside African Foundries; but on each occasion, “such disaster is kept away from public glare.”

    This is another compelling reason why an inquiry should be launched into the accident and other issues it has thrown up; if for nothing else, to get to the truth, or otherwise.

    Primarily, the Factory Act has provisions intended to ensure that employees exposed to occupational hazards in a factory discharge their tasks under safe working conditions. The National Industrial Safety Council of Nigeria and the National Social Insurance Trust Fund are charged with enforcing industrial safety and ensuring that there is adequate compensation for employees in cases of violation. These relevant government agencies, particularly the NISCN, should also rouse themselves from slumber and take a serious look at the level of compliance with safety procedures at the Ogijo factory and the accident of April 11. Other indigenous and multinational companies found to be breaching the provisions of the Factory Act and violating employees’ rights anywhere in the country, should also be investigated and sanctioned.

    Drastic discharge of regulatory functions, improved monitoring of compliance and strict application of punitive measures, have become inevitable if the widely known disregard of standard safety procedures in factories and casualisation of employment – which some term ‘slavery’ – by mainly Indian, Lebanese and Chinese companies, must be curbed.

    Experts in industrial matters are of the view that the failure of regulation, monitoring and enforcement, as well as emasculation of unionism in such factories, explain the impunity with which the companies violate the basic safety requirements for running a factory, without facing consequences. The foreign nationals’ ability to circumvent the rules, of course with the help of some elements in the relevant agencies, is also a factor here.

    It must, however, be noted that not all Asian companies operating factories in the country engage in sharp practices. Many are genuinely active in various sectors where they are contributing to the growth of the economy. But, it behoves these foreign nationals whose countries’ image is being tarnished to call their compatriots to order. This can be handled at the consular level or through Diaspora associations.

    The Federal Government should also give more powers to the National Industrial Safety Council of Nigeria to enable it discharge successfully   its statutory functions, including to “minimise avoidable death and injury by devising, recognising, encouraging and promoting methods and procedures leading to improved safety, protection and health among all persons in public and private places throughout Nigeria.”

     

    • Onakoya wrote from Ogun State.

  • 2019: Anambra begins regulation of branded vehicles, banners

    The Anambra State government has said it will start to regulate the movements of branded vehicles, placement of banners and pasting of political posters as from next week.

    But the government assured the residents that it is not a ploy to witch-hunt any political party, as being speculated.

    Addressing reporters yesterday in Awka, the state capital, the Managing Director of the state Signage and Advertising Agency (ANSAA), Sir Jude Emecheta, said the aim was to sanitise the environment.

    He debunked the claim that it was a punitive measure by the All Progressives Grand Alliance (APGA) to clip the wings of other parties ahead of the National Assembly poll in 2019.

    It was gathered that ANSAA had concluded arrangements to drive branded vehicles from the road, especially those of the opposition, to pave way for only APGA vehicles.

    But Emecheta said such allegation was unfounded and unfair to the state government.

    The agency chief said letters were written to the state party chairmen on the planned regulation.

    He said: “There is no law that says APGA will not pay such fee; it cuts across all political parties in the state. The agency is not witch-hunting any party.

    “We will start impounding the vehicles of those who refuse to pay. You can brand your vehicle without putting any pictures on it. But once a picture appears, it becomes an advert and you must pay.

    “What we are doing now is sensitisation. By next week, the operation will start. For now, no party has paid for any branded vehicle, posters and banners.”

    The agency had pegged placement of posters at N1 million for senatorial; N500,000 for House of Representatives and N250,000 for House of Assembly.

     

  • ‘NCC’ll continue to tackle multiple taxation, regulation’

    The Nigerian Communications Commission (NCC) has restated its determination to address the twin-evil of multiple taxation and regulation in the telecoms industry.

    The Commission said it has interfaced with state governments and planned for stakeholders’ forum that will bring operators, state governments and relevant government agencies together to find common grounds.

    Its Director, Compliance Monitoring and Enforcement, Mr. Efosa Idehen, who disclosed this in an interview, said the Commission is concerned that operators plan to shut down services in states where multiple taxation and regulation have pushed costs higher.

    He noted that the high cost of operation and disruption in many states has meant that telecoms operators avoid committing infrastructure to these states leading to negative impacts that make the country as a whole suffer.

    The President of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), Gbenga Adebayo had said operators may be forced to shut down services in states that have closed Base Transceiver Stations (BTS).

    Mr. Idehen is hopeful that things will not get to that stage.

    He said: “We are working with all stakeholders to ensure we don’t get to that stage. One can understand the position of the operators. No business can survive a situation where you have invested billions of naira to roll-out critical national infrastructure, where you have made projections on the taxes and charges you will pay over the next few years and the revenues you expect, only to have inordinate high charges imposed with no time to plan and then have your infrastructure shut down by government agencies without notice.

    “No business can thrive in an environment where costs are higher than revenues; and so one can understand their frustration. However, we are hoping that everyone – the state governments, local governments and other stakeholders – will join hands to ensure that we don’t get to the position where operators shut down services in entire states because of the difficult operating environment.

    “In fact, we will soon be holding a forum with critical stakeholders across the federation to further thrash out the issues and seek their support in overcoming this problem. We need to come to a win-win resolution of this problem in the national interest.”

    He urged parties concerned in the issues to key into the ease of doing business being championed  President Muhammadu Buhari and Vice-President Yemi Osinbajo.

    The director is however upbeat that the challenges can be overcome.

    “Our Executive Vice Chairman, Prof Garba Dambatta and our Executive Commissioner have visited many states of the federation, and in all fairness, we have received their co-operation in several cases.

    “For instance, the governors of Kano and Ogun states  recently waived some charges running into millions of naira for some operators after the EVC intervened.  Other states are co-operating – we just need the momentum to increase.

    “The Minister (of Communication), Mr Adebayo Shittu has also been tirelessly engaging the National Economic Council to review and update its resolution of 2013 on the need to harmonise taxes and charges across the country,” he said.

    In addition to crippling security operations, banking services, emergency services, and every activity that relies on constant availability of telecoms services, network disruptions make citizens suffer poor quality of service, lowers revenue prospects for state governments and cripples investment flow into the country.

  • DisCos push for input into draft regulation

    The power distribution companies (DisCos) are seeking input into the draft regulation being fine-tuned by the Nigerian Electricity Regulatory Commission (NERC).
    The firms said some parts of the regulation needed to be improved to ensure efficiency.
    The DisCos, under the aegis of the Association of Nigerian Electricity Distributors (ANED), cited metering, saying it is key in the sector. They said the DisCos were not ready to play with it; therefore, it must not be handled in such a way that it wouldn’t boost their operation.
    ANED’s Manager, Regulation, Mr Adetunji Adeleye, said the DisCos were unhappy with the payment for meters by consumers as contained in the draft regulation.
    Adetunji said metering was important as it was one of the means through which the DisCos derive their revenue. He added that the firms are expecting the issue, among others, stated in the draft regulation would be addressed to favour them, whenever NERC finishes fine-tuning the draft regulation.
    According to him, the DisCos are required to provide meters to consumers to distribute electricity to them. He said where other parties were involved in metering, it would affect the firms.
    Adetunji, who represented the power firms at a consultative forum held in Abuja to deliberate on germane issues, such as metering, distribution and generation of electricity, said the firms are not pleased with the mode of payment for meters supplied to the consumers, as contained in the draft regulation.
    The forum was organised by NERC to seek opinions on salient issues affecting the sector was well attended by stakeholders.
    He said the issue of third-party metering stated in the draft would not help the DisCos that are constitutionally required to issue meters to consumers with to provide electricity and generate revenue.
    “That is the reason DisCos want the outcome of the draft regulation to be in their favour when NERC eventually releases it to the public, he said.
    He, however, lauded the decision of the NERC ton the draft regulation, saying it would set the tone for the administration of the sector.

  • Stock Exchange tightens regulation with new structure

    The Nigerian Stock Exchange (NSE) has promoted Ms Tinuade Awe to the  newly created office of Executive Director, Regulation as part of efforts to strengthen regulatory framework and surveillance at the stock market.

    Awe was, prior to her new appointment, the General Manager, Legal and Regulation Division of the Exchange, in which role she had also served as General Counsel of the Exchange. Her new appointment has already been approved by the Securities and Exchange Commission (SEC), Nigeria’s apex capital market regulator. The appointment took effect from January 1.

    As Executive Director, Regulation in the NSE’s revised organisational structure, Awe has oversight functions over broker dealer regulation, listings regulation, market surveillance and investigations and regulatory technology while the rules and interpretation and disciplinary units of the Exchange will also report directly to her.

    Nigerian Stock Exchange (NSE)President, Mr. Abimbola Ogunbanjo, said the Exchange was confident that Awe would continue to exert her influence and leadership  attributes in her new role for the betterment of the market and its stakeholders.

    “I am very proud that the National Council has recognised Tinuade for the exemplary role she has played in transforming the Legal and Regulatory landscape of the Exchange and would like to warmly congratulate her on her elevation as Executive Director, Regulation. Tinuade’s  passion, energy and commitment to driving and executing on the Exchange’s transformation agenda has no doubt been instrumental in  revolutionising the Exchange,” Ogunbanjo said.

    NSE Chief Executive Officer, Mr. Oscar Onyema, noted that as the Exchange restructures and repositions for the fourth industrial revolution, Awe’s well deserved promotion is indicative of the great career advancement opportunities that exist at the NSE.

    “I congratulate her and look forward to working with her in this new function to build a globally competitive self-regulatory organisation,” Onyema said.

    Awe reiterated her commitment to continuing to provide quality service to the Exchange and its ecosystem by engendering an improved compliance culture based on substantial engagement as well as deployment of appropriate enforcement mechanisms.

    She added that she will also continue to promote full embracement and further deployment of technology to serve regulatory purposes while also furthering regulatory remit through key relationships with other regulators.

    Awe is a consummate professional with varied professional experiences garnered across three continents.  She has an LL.B degree from the Obafemi Awolowo University, graduating as the Best Female Student in the Faculty of Law.  She finished at the Nigerian Law School with First Class Honours, graduating as Best Overall Student. She also holds LL.M  from the Harvard Law School, where she was a Landon H. Gammon Fellow, as well as The London School of Economics and Political Science (LSE), where she graduated with merit.  At the LSE, she was a British Council Scholar.  She is admitted to both the Nigerian and New York Bars.

    She had served as Secretary to the Council of the Exchange from January 2011 to October 2015.  Awe became affiliated with the Exchange in a consulting capacity in August 2010 and joined the Exchange in August 2012.  She has been a member of the Executive Committee of the Exchange since August 2012.

  • Reason for power sector poor regulation

    Politics, not lack of manpower has stalled every effort to regulate the power sector and further reposition it for growth since its privatisation in 2013. The Association of Electricity Distributors of Nigeria(ANED), Executive Director, Research and  Advocacy, Mr Sunday Oduntan has said.

    He said the inability of the Federal Government to demonstrate political will by appointing a substantive Chief Executive Officer for the Nigerian Electricity Regulatory Commission(NERC), has frustrated efforts to regulate the market well, ditto the delay, by the government to  constitute the Board of the agency.

    In a visit to The Nation last weekend, in company of ANED’s Chief Executive Officer, Mr Azu Onya,  said the sector would have by now have a strong regulation, but for the failure of the government to constitute the Board of the agency.

    Oduntan said:’’ For eighteen (18) months, no  commissioner was appointed by the Federal Government to regulate the NERC. The agency is still without a substantive Board. All these are afffecting the regulationof the power sector. The issue bordered on politics in the sector, and nothing else.Does that mean that the country does not have competent and skilled workforce to steer the ship of the sector? Does that mean that the government can only get qualified personnel, when it shops outside the shore of Nigeria. At a time, an acting Chief Executive officer was appointed to run the affairs of NERC. In view, such officer does not have the power to regulate the sector well’’

  • NERC presents eligible customer regulation to Fashola

    NERC presents eligible customer regulation to Fashola

    •Minister urges speedy work on meter regulation 

    Minister of Power, Works and Housing Babatunde Fashola (SAN), has received  the regulations guiding Eligible Customer policy in the electricity sector, with an appeal to the public to take seriously the consultations and stakeholder notices issued from time to time by the Nigerian Electricity Regulatory Commission (NERC).

    After the presentation of the Eligible Customer Regulations 2017, to him by the NERC Vice Chairman,  Sanusi Garba, Fashola said such consultations were necessary as decisions taken thereafter would affect members of the public and consumers as well as stakeholders.

    Citing the Eligible Consumer Regulations, Fashola, who noted that the regulations came by consulting with as many people as possible, who will be affected by it and the declaration which he made, pointed out that while the DisCos would be affected in terms of potential revenue impact, consumers would be affected with regards to how they could possibly build distribution assets and how they would get compensated.

    “Members of the public must, therefore, understand that whether it is tariff setting, whether it is Eligible Customer declaration, NERC works, first by consultation, before it makes decisions so that all interests are carried as much as possible,” he said adding: “I want to use this opportunity to say that whenever consultation notices, stakeholder notices are issued by NERC, members of the public should take them seriously.”

    Describing the regulations as “a very important rule”, Fashola, who said it has been much awaited, added: “It will help us to improve the capacity for electricity distribution to consumers, who need them. Consumers, who are willing to make investments in providing distribution assets in a way that it then helps them to recover their costs and so on and so forth.

    “But I will like members of the public to know that the process of making these rules did not come by sitting in the office. It came by consulting with as many people as possible, who will be affected by the regulations and by the declaration that I have made; and I know that DisCos will be affected in terms of potential revenue impact and I believe that this has been taken care of in the regulation,” he said.

    The Minister, who also described the Eligible Customer Regulations as one of the steps in furtherance of the Power Sector Recovery Programme (PSRP), declared: “This will assist the distribution end when it becomes implementable, the metering programme when the regulations come, when approved, the settlement of DisCo debts, MDA debts and solving the liquidity problem,” adding that everything being done in response to the power value chain was a step to the furtherance of the PSRP.

    Commending the NERC management for its efforts in the production of the regulations, the Minister expressed delight at the presentation, promising to familiarise himself with the document and appealed to the Commission to upload the document on its website for the benefit of the public as well as share with the Ministry “so that all the agencies of government can help you to propagate and advertise this”.

    He, however, called on the Commission to speed up work on the regulation on meter, adding: “Much as we welcome this (Eligible Customer Regulation), I think the regulation that everybody is waiting for is the regulation on Meter. It will be a good thing if you can complete that before this month is over and let us see then how quickly that can stimulate licensing of meter suppliers.”

  • Wanted: stricter enforcement of insurance laws, regulation

    The role of law and regulation in insurance was the theme of the first annual seminar of the Nigerian Bar Association (NBA) Section on Business Law (SBL) Insurance and Pensions Committee. JOSEPH JIBUEZE reports.

    Lawyers and insurance experts have called for stricter enforcement of insurance laws and regulations.

    It will lead to confidence in the insurance sector and prevent abuses, they said.

    They spoke at the First Annual Seminar of the Nigerian Bar Association Section on Business Law (NBA-SBL) Insurance and Pensions Committee.

    An insurance expert, Dr. Omogbai Omo-Eboh, said there were challenges in enforcement, such as the compulsory insurance of public buildings.

    According to him, the law contains several provisions outlawing “rampant” practices such as unregistered underwriters, brokers, agents, and insurance consultants, among others.

    He said such unqualified persons engage in nefarious activities unchecked and defraud unsuspecting public in the guise of selling insurance products, resulting in loss of confidence in the industry.

    Omo-Eboh, a partner at Consolex, said: “The law itself contains extensive provisions making these practices criminal offences subject to the payment of a fine or a term in prison or both upon conviction.

    “However, the enforcement machinery of these provisions by the National Insurance Commission (NAICOM) appears inadequate, making it possible for those with unwholesome motives to infiltrate the industry and get away with their activities.

    “The Commission, which is vested with the responsibility of enforcing the provisions of the law, ought to be more proactive.

    “To this end, the Commission should set up an enforcement department whose primary responsibility will be to liaise with the law enforcement agencies at all levels of government.”

    Nigeria Insurance Association (NIA) chairman Eddie Efekoha said the body has set up a Customer Complaints Bureau chaired by a retired Supreme Court Justice George Oguntade, who he said has resolved several issues bordering on unpaid claims.

    “We felt that we don’t need to go to the law courts to resolve our issues because of the attendant negative publicity that follows,” he said.

    Efekoha urged customers who have complaints on disputes claims or unmet expectations to approach the Bureau. He expressed his association’s willingness to partner with the SBL committee.

    NBA Second Vice President Onyekachi Ubani called for the increment in insurance companies’ capital base as was done in the banking sector, saying it would lead to more confidence in the industry and prevent big businesses going abroad for insurance.

    Executive Director, Leadway Assurance Company Ltd Ms Adetola Adegbayi, who spoke on Insurance Law Practice: beyond the Status Quo, said it was crucial for the public to have confidence in insurance. “It’s important that the trust aspect is strong,” she said.

    According to her, an insurance company should have few court cases. “When an insurance company begins to litigate too much, then something is wrong,” she said.

    Adegbayi listed areas in which insurance companies need lawyers, such as in litigation, contract reviews, assets/ shares acquisition, international investment, in-house advisory, company regulatory administration, compliance monitoring, among others.

    Managing Director (Technology), Accenture Nigeria, Mr Olaniyi Tayo, said though Nigeria has shown positive signs of development in insurance, it is still confronted with numerous challenges constraining its growth.

    Such constraints, he said, include cultural and religious beliefs which hinder individuals from taking out life insurance, poor distribution channels, lack of innovation in product development, and limited access to local specialised insurance skills, such as actuarial scientists, data architects, among others.

    Tayo believes that low penetration rate demonstrates low level of acceptance, adding that there is a lack of trust regarding claims settlement.

    He said more should be done by the industry stakeholders to reverse the situation, including use of relevant technology, such as robotics/drones, mobility and analytics in underwriting, claims management, among others.

    An independent non-executive director at FBN Holdings Plc Director Ms Cecilia Akintomide said there was a lack of awareness of the importance of insurance.

    She said the issue of lack of trust was being addressed through regulation, adding that more enforcement of insurance laws was needed.

    NBA-SBL chairman Olumide Akpata said the number of insured Nigerians was too low, adding that more penetration was needed.

    “The number of Nigerians who actually take insurance is abysmal. There’s a lot more that regulation can do to ensure that it is second nature for us to take insurance, and that it’s not something we’re compelled to do.

    “A lot of this has to do with culture. People are not so inclined. When you talk of risk, people say: ‘It’s not my portion.’ But you must protect yourself against risk, and that’s insurance,” he said.

    NBA-SBL Insurance and Pensions Committee chairman Dominic Ichaba said lawyers were not doing as much as they could in the insurance industry because they do not know what opportunities exit.

    “There are many areas of legal work in the insurance industry for lawyers in other climes not yet open to Nigerian lawyers. Besides, the Nigerian insurance industry is far from achieving its potential.

    “For instance, while insurance penetration (the rate of insurance penetration to GDP) is 12 per cent in South Africa, it is less than one per cent in Nigeria.

    “This means that there is plenty of room for growth, which brings more work for insurance law practitioners,” he said.

     

  • Metering regulation coming

    The Minister of Power, Works and Housing, Babatunde Raji Fashola has said the metering regulation programme will commence this month.

    He disclosed this during the  dialogue on the power sector, organised by the Lagos Chamber of Commerce and Industry (LCCI) in Lagos.

    According to him, the regulation when issued, will open up the market for more players in the meter supply value chain and strengthens local meter suppliers, adding that the regulation will make more people have access to power.

    He said the regulation on how eligible customers will operate so that more people can get access to power will be issued, adding that when the regulation and process of implementation come out the added power will stand

    To him, Discos business is distribution of power and not metering, pointing out  however, that they need meters to do so. The regulation, he said, will ensure that those who specialise in manufacturing, supply and installation of meters will now go into that business subject to license by the National Electricity Regulatory Commission (NERC).

    On the debt situation and how the power supply payment assurance guarantee will help to increase production from  2,690mw, which he said the present administration met on ground in 2015 to 6911mw, the ministry, he said, is committed to evolving solutions that will help put all of that to 6000mw on the grid, adding that the country generates about 4, 225mw on the grid.

    Fashola said there was a peak power generation, which is the maximum amount of power produced so far, but that it didn’t mean that the system was operating at its peak.

    He acknowledged that the LCCI had been a very critical stakeholder, representing the private sector, adding that he was invited to give an update on the reforms in the power sector and explain some things about the eligible customers, how it can work, and the metering programmes. He agreed that all of these are  subject to regulation by the NERC.

    LCCI President, Chief Nike Akande, said for the power sector to survive and be sustained, it has to be driven by the private sector. She, therefore, urged the government to provide the enabling environment for these to happen, adding that working and collaborating with the government are the way forward.

    Chief Akande said there are several reforms in the power sector, but the most recent one is driven by the World Bank.

    “Looking at the draft I think that it is going to be more beneficial than what we have been having in the past, though it is still work in progress,” she added.

    Expressing disappointment at the power generation, the LCCI boss said there was urgent need for all stakeholders to work together in order to realise the goal of providing a more effective and efficient power supply in the country.