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US Investor To Deliver 1,200mw Solar Power …PHED, Bank Sign Pre-metering Deal
A consortium of American investors in renewable energy, under the auspices of MOTIR SEASPIRE, has signed a Memorandum of Understanding with the Federal Ministry of Power to deliver in two years, 1,200 megawatts of solar powered electricity in Nigeria.
The proposed solar technology to be installed in Nigeria will be of United States standard, according to the Minister of Power, Prof. Chinedu Nebo, as he assured that the consortium had the capacity to increase the scope of project up to 10,000MW in the next five years.
A statement from the power ministry quoted the President/CEO, MOTIR SEASPIRE, Mr. Emmanuel Irono, as saying that the team had a portfolio of over $5bn that could be accessed over a period of five years into its integrated renewable energy projects.
He said the initial 1,200MW will be realised in the next two years, adding that the local content component of 80 per cent Nigerians will make the country the hub of its activities in Africa.
He said, “As a compatriot, the concern for providing employment to the teeming populace will be a plus to the company’s quest for provision of training for the Nigerian workforce in the power sector in general and renewable energy in particular.”
Responding, the minister of power said he was excited that a compatriot was making this giant stride of harnessing the vast potentials of energy in solar.
Meanwhile, in a move to make pre-paid meter available to electricity customers, Ecobank Nigeria Plc and Port-Harcourt Electricity Distribution Company (PHED) have signed a special agreement whereby their customers can secure finance for the acquisition of prepaid meters under the Credited Advanced Payment for Metering Implementation (CAPMI) scheme.
The scheme, CAPMI is a special programme initiated by the Nigerian Electricity Regulatory Commission, (NERC), that allows willing electricity customers to make payment to distribution companies for pre-paid meters and such payment is then refunded back to the customer through deductions from the monthly electricity bills.
The scheme being introduced by Ecobank, one of the commercial Bank under the name CAPMI Credit, avails willing customers the opportunity of securing microfinance for pre-paid meter acquisition from PHED.
While signing the agreement last Thursday in Port-Harcourt, Rivers State, Executive Director, South-South and South-East, Ecobank, Mr. Kingsley Umadia, stated that CAPMI Credit was designed to help bring solution to the huge metering gap that was currently being experienced in the power sector.
Umadia noted that the acquisition of pre-paid meter would also stop the estimated bill, noting that electricity had been known to be a driver of economic prosperity.
He said that Ecobank decided to partner with PHED to help actualize the development of the sector for the country’s economic growth, adding that no country would function well without effective power.
In his own part, the, Chief Executive Officer, PHED, Mr. Jon Abbas, disclosed that the partnership with Ecobank was necessary as the bank had been a leading partner in service provision to customers.
Abbas stated that the deal was struck in order to achieve the company’s vision of being a leading utility in Nigeria as according to him, no country can function effectively without power, hence we work to ensure that power in the country is stable.
The Assistant General Manager, Customer Services, PHED, Mr. Godwin Orovwiroro, while making presentation on the scheme, explained that CAPMI credit would run alongside the regular CAPMI scheme that requires customers to make cash payment for meters.
Orovwiroro further explained that all categories of meters including single phase and three-phase were accommodated in the Ecobank finance scheme.
‘’Under CAPMI, electricity distribution companies repay the cost of prepaid meters back to customers who purchase them at 12% of the cost.’’,he said.
PHED is the electricity distribution company that serves four states in the south-south namely Akwa Ibom, Bayelsa, Cross and Rivers States.
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Don’t Attend Nocturnal Meetings To Declare War On Rivers, Fubara Tells New CP
Rivers State Governor, Sir Siminalayi Fubara, has advised the new Commissioner of Police posted to the State, Olugbenga Adepoju, to resist the temptation of attending nocturnal meetings that will make him declare war on Rivers people.
Rather, the Governor urged him to put the general interest of the people of the State above other considerations so that he can work to ensure that peace prevailed and there is stability.
Governor Fubara gave the advice when he received CP Olugbenga Adepoju, the 47th Commissioner of Police, Rivers State Command, on courtesy visit, at Government House in Port Harcourt, last Friday.
The Governor said: “You are not a new person in our State. You’ve been here, more especially, in charge of Operations. It then means if I start to talk about my story, it’ll connect with your activities in Operations. But I am not going to talk about my story.
“But the good thing here is, you said something that I want to really anchor on. Your duty, as it stands now, is to work with the government, work with other sister agencies to maintain law and order, protect lives and property of the people of Rivers State.
“Be apolitical, as you just read in your address. Don’t go to nocturnal meetings in people’s houses, and in the morning, you come and declare war on Rivers people. That is the only advice I will give to you.”
Governor Fubara charged the CP, who is already conversant with the Rivers State terrain and its associated security challenges, to draw up a holistic plan on how to tackle the twin problem of cultism among the youths and kidnapping incidences in boundary communities.
Governor Fubara said his administration is not failing on its responsibilities to security agencies to sufficiently address those issues and save Rivers people, adding, “But the primary duty of this team, these particular challenges are rested on the police. So, please, take this one as my own assignment (to you).
“While you are carrying out the larger assignment that your people from headquarters will send you, also make sure that you look for every way possible to reduce issues of cultism because it is affecting our secondary schools, it is affecting our primary schools with students growing to become monsters, which is also leading to other issues like kidnapping and others.
“It starts from somewhere. So, we must also get to the root and reduce it. I know we cannot totally eliminate it, but, somehow, let us look for a way to reduce it.”
Governor Fubara said the former CP to the State had succeeded because he maintained healthy synergy with the State Government, and assured that the same level of support will be provided to the new CP, if he adheres to the tenets of professionalism, stressing, “On our part as a Government, we will continue to support you to make sure you succeed. Your success here will mean more elevation for you. If you have a very bad record here, whether you like it or not, it will one day in the course of your profession, affect your growth.”
In his address, Rivers State Commissioner of Police, CP Olugbenga Adepoju, expressed profound gratitude for the opportunity given to him to serve the resilient and vibrant people of Rivers State as the 47th Commissioner of Police.
CP Adepoju said he is fully aware of the complex security challenges in the State, and is determined to do everything professionally to confront them with innovation.
He said, “We will strengthen our intelligence gathering capabilities, enhance our rapid response mechanism, and most importantly, foster deeper trust and collaboration with the community we serve. Our Command will remain firmly apolitical, standing as a neutral and impartial institution, dedicated solely to upholding law and order. This commitment is vital to maintaining the trust and confidence of the people we protect.”
CP Adepoju also said: “While we will engage constructively with political leaders and key stakeholders to secure necessary resources and support, our engagement will always be conducted with professionalism and integrity”.
Meanwhile, Governor Siminalayi Fubara, and the State Commissioner of Police, Olugbenga Adepoju, have decorated two officers in Government House with their new ranks of Deputy Superintendent of Police (DSP).
They include the Personal Security Officer to the Governor, Anthony Peter, who was recently promoted from Assistant Superintendent of Police (ASP 1) to Deputy Superintendent of Police (DSP); and Provost Marshal, Government House, John Wakama, who was also promoted from Assistant Superintendent of Police (ASP 1) to Deputy Superintendent of Police (DSP).
Both the Governor and the Commissioner of Police were assisted at the short event by the wives of the newly promoted officers.
The decoration ceremony was performed shortly after the courtesy visit to the Governor by the State Commissioner of Police at the Government House, Port Harcourt, last Friday.
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TUC Rejects VAT Hike, Urges Pro-people Tax Reforms
The Trade Union Congress of Nigeria has opposed the proposed increase in the Value Added Tax rate, as outlined in the Federal Government’s Tax Reform Bills, warning that the move could worsen the economic hardship faced by Nigerians.
The Federal Government had proposed a phased VAT hike from the current 7.5% to 10%, 12.5%, and ultimately 15%, a move the TUC described as ill-timed and detrimental to the welfare of citizens already grappling with inflation, unemployment, and a soaring cost of living.
Speaking during a press briefing in Abuja, yesterday, following the union’s National Executive Council meeting held on November 26, 2024, TUC President Festus Osifo said maintaining the VAT rate at 7.5 per cent was crucial to safeguarding Nigerians from additional financial pressure.
“Allowing the Value Added Tax rate to remain at 7.5 per cent is in the best interest of the nation. Increasing it now would impose an additional burden on households and businesses already struggling with economic challenges,” Osifo said.
He added, “With inflation, unemployment, and the cost of living on the rise, higher taxes could stifle economic growth and erode consumer purchasing power.”
The TUC called for a review of the tax exemption threshold, urging the government to raise it from N800,000 to N2.5 million per annum to ease the financial strain on low-income earners.
“This measure would increase disposable income, stimulate economic activity, and provide relief to struggling Nigerians,” Osifo explained.
He said, “The threshold for tax exemptions should be increased to N2,500,000 per annum. This adjustment would offer much-needed relief to low-income earners, enabling them to cope with the current economic challenges.”
The TUC also expressed reservations about the proposed transfer of royalty collection from the Nigerian Upstream Petroleum Regulatory Commission to the Nigeria Revenue Service (NRS), citing risks of revenue losses and inefficiencies.
“Royalty determination and reconciliation require specialised technical expertise in oil and gas operations, which the NUPRC possesses but the NRS lacks. This shift could result in inaccurate assessments, enforcement challenges, and reduced investor confidence,” Osifo warned.
The union commended the government’s decision to retain the Tertiary Education Trust Fund and the National Agency for Science and Engineering Infrastructure, describing their roles as pivotal to the country’s education and technological advancement.
“These institutions have significantly contributed to improving tertiary education and fostering homegrown technologies. Their continued existence is vital for sustained progress in education, technology, and national development,” Osifo said.
Osifo called on the Federal Government to adopt tax policies that prioritise the welfare of citizens and promote equitable economic growth.
“As discussions on the Tax Reform Bill continue, it is our hope that the focus will remain on fostering economic growth and improving living conditions for all Nigerians,” he said.
The TUC reaffirmed its commitment to advocating for policies that enhance the well-being of Nigerians, emphasising that proactive and citizen-centred reforms reflect true leadership.
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Fubara Inaugurates Road Project To Celebrate Jackrich On Birthday
Rivers State Governor, Sir Siminalayi Fubara, has noted with delight the initiative, love and courage shown by High Chief Sobomabo Jackrich in contributing to improved road infrastructure in his community.
Governor Fubara made the commendation when he visited the country home of Amb Sobomabo Jackrich to celebrate with him on his birthday, and used the occasion to inaugurate a road project executed by the celebrant in Usokun Town in Degema Local Government Area.
Amb Sobomabo Jackrich, also known as Egberepapa, is a prominent Niger Delta leader and National Chairman of Simplicity Movement.
Governor Fubara said the road project, solely funded and completed by the celebrant, shows how committed he is to making life better for residents in his community.
The Governor said: “Let me on behalf of the guests that are here to celebrate with our brother, not really an official engagement, but on a personal note, also share a wonderful moment with our people.
“Our celebrant is not just celebrating his birthday, but he is also giving back to the society. So, I join him and all well-meaning people that believe in his course to commission this project that he has embarked on in his own accord for the betterment of his people.
“I want to say that with what I am seeing here, there may be a few things that we can also do to make this project more meaningful to the people in terms of streetlights. On our own, we are going to support him to complete it.”
Governor Fubara, who also joined the celebrant to cut the birthday cake, prayed for strength and longevity for the celebrant.
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