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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POWER MINISTER TO SUBMIT DRAFT ELECTRICITY POLICY TO FEC. (PHOTO).

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 Power Minister To Submit Draft Electricity Policy To FEC 


The Minister of Power, Adebayo Adelabu, has received a draft copy of the National Integrated Electricity Policy and Strategic Implementation Plan expected to drive the positive change needed to transform Nigeria’s electricity sector.


Adelabu, who received the document on Wednesday in Abuja, said the draft policy document would be presented to the Federal Executive Council (FEC) in six weeks.


Some industry experts and key stakeholders in the power sector put together the National Integrated Electricity Policy and Strategic Implementation Plan, a policy document that is targeted at addressing challenges in the sector.


The policy document outlines interventions across the entire power value chain from generation and transmission to distribution and off-grid segments.


The power minister said this was part of measures aimed at improving equitable access to electricity for all Nigerians particularly those in underserved communities, creating an enabling environment for investment to thrive and integrating renewable energy sources.


The power sector in Nigeria has been plagued with hydra-headed issues that has bogged the electricity generation and affected Nigeria’s industrialisation.


Adelabu had said the government has been working on ramping up power generation from about 4,000 megawatts to 6,000 megawatts in the next six months. He said 25% of Nigeria’s power generation is from hydroelectric power while the remaining 75% is from gas plants.


On April 3, 2024, NERC raised electricity tariff for customers enjoying 20 hours power supply daily. Customers in this category are said to be under the Band A classification.


Since the increase, customers now pay N225 kilowatt per hour from the previous N66, a development that has been heavily criticised by many Nigerians, considering the immediacy of the tariff hike and the current hardship in the land.

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