PRES. TRUMP AWARDED INAUGURAL FIFA PEACE PRIZE AT WORLD CUP DRAW IN WASHINGTON . (PHOTOS).

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 President Trump awarded inaugural FIFA Peace Prize at World Cup draw in Washington  Gianni Infantino, the FIFA President presented the honour onstage at the Kennedy Center for the Performing Arts on Friday, saying Trump had been selected “in recognition of his exceptional and extraordinary actions to promote peace and unity around the world”. “This is your prize, this is your peace prize,” Infantino said, after Trump took the stage to accept the trophy, a medal and certificate. “There is also a beautiful medal for you that you can wear everywhere you want to go.”   FIFA says the prize is for “individuals who help unite people in peace through unwavering commitment and special actions”.  Accepting the award, Trump called it “one of the great honours of my life”, before claiming to have “saved millions and millions of lives – the Congo is an example, over 10 million people killed and it was heading for another 10 million very quickly. India and Pakistan, so many diffe...
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FG'S ELECTRICITY SUBSIDIES INCREASE BY 2.76% TO N199. 64BN IN DECEMBER- NERC. (PHOTO).

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 FG’s Electricity Subsidies Increase by 2.76% to N199.64bn in December – NERC


The Nigerian Electricity Regulatory Commission (NERC) has announced a 2.76% increase in electricity subsidies payable by the Federal Government for December, raising the total from N194.26 billion in November to N199.64 billion. This increase follows adjustments due to factors such as the rising exchange rate, inflation reaching 33.9%, and changes in available generation capacity.


The December 2024 Multi-Year Tariff Order (MYTO), posted on NERC's website, retains electricity tariffs for all customer categories. Customers in Bands B to E will continue to pay the same rates as December 2022, while Band-A customers will maintain the rate of N209/kWh.


Key beneficiaries of the subsidies include Abuja DisCo, which will receive N29.10 billion (up from N27.86 billion in November), and Ikeja Electric, which will benefit from N26.68 billion in government subsidies.


NERC confirmed that the gas-to-power price benchmark remains at $2.42/MMBTU, based on the rate set by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Despite the increase, NERC emphasized that the tariffs are subject to monthly adjustments based on factors like inflation, exchange rates, and gas prices.


Chief Princewill Okorie, Executive Director of the Electricity Consumers Protection Centre, commented that subsidies are ineffective without adequate electricity supply, criticizing the DisCos for poor service and the continued use of estimated billing for unconsumed power.

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