ROSATOM DISCUSSING NUCLEAR PROJECTS WITH NIGER & ETHIOPIA. (PHOTO).

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 Rosatom Discussing Nuclear Projects With Niger & Ethiopia "Rosatom is open to discussing possible forms of cooperation and is prepared to offer modern, reliable, and safe technologies," the Russian state corporation stated, Sputnik reported. Cooperation between the parties is currently focused on establishing working mechanisms and defining project parameters, with decisions being taken gradually in line with the host country’s priorities and international safety standards, Rosatom said. Rosatom is in dialogue with more than 20 African countries on such areas as the construction of large and small nuclear power plants, nuclear science and technology centers, and the development of uranium deposits.
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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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