KIDNAPPERS FREED US FIRST: TEACHER REVEALS DRAMATIC TWIST IN OYO ABDUCTION SAGA, CONTRADICTING PRESIDENCY’S “RESCUE” CLAIM. (PHOTO).

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 Kidnappers Freed Us First: Teacher Reveals Dramatic Twist in Oyo Abduction Saga, Contradicting Presidency’s “Rescue” Claim In a startling revelation that challenges the official narrative, one of the teachers held captive for 56 days by kidnappers in Oyo State has claimed that he and fellow hostages were released by their abductors *before* security operatives arrived to escort them to safety. Zacchaeus Olatunde, a teacher among the victims abducted from schools in Oriire Local Government Area, made the disclosure during a telephone interview with Nigeria Info FM on Friday. According to Olatunde, the captives — who were kept permanently blindfolded and had no idea of their location — were informed of their freedom by the kidnappers’ commander before any government intervention. “Until the last day when their commander came and was smiling and laughing and said we should thank God that we had been freed. The next thing they said was that we should open our eyes,” he recounted. The ...
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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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