LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE

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 Lagos Court Jails NOGASA Chair, Fatuyi Phillips 21 Years  for N43.5m Fraud    Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, to 21 years imprisonment for N43.5m fraud.   The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on April 5, 2022, arraigned Philips alongside his firm, Oceanview Oil and Gas Limited, on a two-count charge bordering on obtaining money by false pretence to the tune of N43, 502,000.00   Count one reads: "Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about the 28th day of September, 2016 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the aggregate sum of N43, 502,000.00 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false rep
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NIGERIAN GOVT GRANTS MTN, OTHERS PERMISSION TO GENERATE ELECTRICITY. (PHOTO).

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 Nigerian government grants MTN, others permits to generate electricity


The federal government has issued permission to MTN Communications Nigeria Limited, Havenhill Synergy, Golden Penny Power Limited and others for mini-grid electricity generation.


The government through the Nigerian Electricity Regulatory Commission, NERC, issued nine new off-grid generation licences in the first quarter of 2024 with a gross capacity of 109.69 megawatts and 3 new trading licences.


MTN was permitted to build four captive generation plants with 15.94MW capacity across Lagos State.


Armilo Plastics Limited, SweetCo Foods Limited, West African Ceramics Limited, African Steel Mills Nigeria Limited and Royal Engineered Stones Limited were permitted to generate captive power.


Golden Penny Power Limited granted a licence to build 6 off-grid gas plants in Oyo, Cross River, Ogun and Lagos states. The total capacity is 100MW.


“Captive power generation permits are issued to entities that aim to maintain and own power plants for generating power for consumption and not for sale to a third party. The commission issued nine captive power permits in 2024/Q1 with a total nameplate capacity of 52.57MW.”


Other licensed companies who are beneficiaries for mini-grids are Daybreak Power Solutions, Auro Nigeria Private Limited, TIS Renewable Energy Limited, Watts Exchange Limited, Centum Dopemu Energy Services Ltd and DMD Electric Limited Lagos State.


Section 165(1)(m) of the Electricity Act 2023 permits NERC to award licence of mini-grid concessions to renewable energy companies to exclusively serve a specific geographical location indicating aggregate electricity to be generated & distributed from a site with the obligation to serve customers to request service.


“Following the satisfactory evaluation of mini-grid applications, NERC issued three mini-grid permits and 2 registration certificates in 2024/Q1,” the commission stated.

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