EKITI GOVT DENIES N25, 000 CHRISTMAS CASH GRANT RUMOURS. (PHOTO).

-
Image
 Ekiti Government Denies N25,000 Christmas Cash Grant Rumours The Ekiti State Government has dismissed rumors claiming that a N25,000 Christmas cash grant is being distributed by Governor Biodun Oyebanji. In a statement issued on Thursday, the governor’s Special Adviser on Media, Yinka Oyebode, described the claim as false and warned residents to be cautious of potential scams. The statement read: “We would like to inform the public that the circulating information about a ₦25,000 Christmas cash grant from Governor Biodun Oyebanji is untrue and should be ignored. “The governor does not distribute cash grants or engage in any financial transactions through unofficial or online platforms.” The government urged the public to be vigilant and avoid sharing personal information with unauthorized websites or individuals seeking to defraud them. “All official announcements from the Ekiti State Government are made through official channels and authorized state representatives,” Oyebode adde...
Post a Comment

ELECTRICITY TARIFF INCREASE LOOMS AS DISCOS APPLY FOR RATE REVIEW.(PHOTO).

-



 Electricity tariff increase looms as discos apply for rate review


14th Jul 2023 


Eleven successor electricity companies have applied for a review of their respective electricity tariffs, the Federal Government has disclosed.


Disclosing this through a notice published by the Nigeria Electricity Regulatory Commission (NERC) on Friday, the Federal Government said the request for rate review is premised on the need to incorporate changes in macroeconomic parameters and other factors affecting the quality of service, operations and sustainability of the companies.


In the notice obtained by Channels Television, NERC stated that Discos request for rate review is in pursuant to Section 116 (1) and 2(a&b) of the Electricity Act 2023 and other extant rules.


A recent attempt by some electricity distribution companies to hike tariff from July 1 had caused uproar and met strong resistance from Nigerians.


The Nigerian Labour Congress (NLC) had asked the government to shelve plans aimed at increasing electricity tariffs in the country, saying it was insensitive and callous to effect hike in power tariff when consumers are still grappling with the hardship caused by the removal of petrol subsidy.


It appeared the public outcry worked as it was observed that the Discos shelved the planned tariff increase on July 1.


However, the increase may still happen with the Thursday notice by NERC that the Discos have now applied for rate review.


The regulatory body also stated that it will conduct a Rate Case Hearing on the applications prior to making a ruling as part of the rule-making process and in the exercise of the powers conferred by the Electricity Act.


“Accordingly, the Commission hereby invites the general public for comments on the rate review applications by the distribution licensees. Interested stakeholders are advised to review and take into consideration the excerpts of the Rate Review Applications filed with the Commission by the respective licensees,” NERC stated.


The Commission called on all members of the public and stakeholders to send their comments or representations before the close of business on 20th July 2023.


The NERC tariff review process was designed with the intent of undertaking major reviews every five years.


Additionally, an extraordinary tariff review is triggered when a Disco requires additional investment beyond the permitted capital expenditure, or when unforeseen operational, legal, or regulatory costs need to be reasonably passed on to consumers.


Minor reviews are also scheduled every six months to adjust tariffs based on changes in gas prices, foreign exchange rates, generation output, and inflation.


In the rate review application of one of the Discos, Ikeja Electricity Distribution Company, it stated that the tariffs are consistently falling below cost-reflective levels because the parameters are not aligned with the current reality of the business putting pressure on Discos and government to subsidize the tariff gaps.


This, it added, undermines the Discos’ ability to fulfill their obligations under the Performance Agreements and Vesting Contract and exacerbates the liquidity challenges in the electricity sector.


Also, Abuja Electricity Distribution Company, said it requests that the Commission take into account the amended end-user rate since it represents business realities for continuity and sustainability. 

Comments

Post a Comment

Popular posts from this blog

INNOSON GIVES OUT BRAND NEW IVM G5 AND SALARY FOR LIFE TO THE MAN WHO PROPHESIED ABOUT HIS VEHICLE MANUFACTURING IN 1979.(PHOTO).

-
Image
Innoson Gives Out Brand New IVM G5 and Salary For Life To The Man Who Prophesied About His Vehicle Manufacturing In 1979.  Last Saturday, July 22nd the Chairman of Innoson Vehicle Manufacturing Company Ltd, Chief Dr Innocent Ifediaso Chukwuma OFR gave out a brand new Innoson IVM G5 to Mr Ikechukwu Osakwe popularly known as Osabros who prophesied to him in 1979 that he would be the first man in Africa to manufacture vehicles and sell to different African countries.  The prophecy was given at the period the then Innocent Chukwuma could not boast of a car, talk less of manufacturing one. According to Dr Chukwuma during the presentation of the car, he recalled on how Mr Ikechukwu Osakwe all the way from Kano blocked him at the front of his house early in the morning and told him he has a message for him.  Mr Osakwe went on to narrate a dream he had about him, how he saw in the said dream his vehicle manufacturing company known as CAP PLC. "He told me that CAP means Chukwuma ...
Read more

SHAKIRA COVERS WOMEN'S HEALTH MAGAZINE,APRIL ISSUE.

-
Image
             Gerard Pique,welcomed their first child into the world last year January.Shakira told the magazine that ''I think it takes two to keep it passionate in relationships,a lot of laughter and a lot of fun moments together,that's essential but also affinity,you know.You have to be compatible.I'm really happy where i am right now,with the person that i'm with right now.He seems to want the same things i want,and that's very important''.More pictures below.                                                                                                                    
Read more

SSANU, NASU THREATEN STRIKE OVER WITHHELD SALARIES. (PHOTO).

-
Image
  SSANU, NASU threaten strike over withheld salaries The Joint Action Committee of the Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Educational and Associated Institutions have threatened to disrupt industrial peace in universities should the government fail to release the withheld salaries of members. The salaries were seized by the administration of former President Muhammadu Buhari during their strike in 2022. The unions, in a joint letter signed on Friday by the President of SSANU, Muhammed Ibrahim and General Secretary of NASU, Peters Adeyemi, questioned the rationale with which the government released four months withheld salaries to members of the Academic Staff Union of Universities but failed to release the withheld salaries of non-academic staff. The unions noted that they would no longer be able to assure the government of industrial peace in universities should the amounts owed by the government are not released. Earlier, the uni...
Read more