Energy
FG gives reason oil marketers are not yet importing petrol, stops monthly price fixing
The PPPRA added that the price of petrol will be determined by the forces of demand and supply.
The Petroleum Products Pricing Regulatory Agency (PPPRA) has revealed that the non-availability of foreign exchange was the reason why many marketers were yet to start importation of petroleum products.
This disclosure was made by the Executive Secretary of the PPPRA, Saidu Abdulkadir, during a press briefing on the deregulation of the downstream oil and gas sector, on Tuesday in Abuja.
The PPPRA boss, who was represented by the General Manager, Administration and Human Resources of the agency, pointed out that although the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), is still the sole importer of petroleum products, PPPRA will continue to monitor development to check profiteering by marketers.
The PPPRA boss said, “The PPPRA as a regulator will continue the role of a watchdog in this deregulation regime. We will continue to maintain our role as a regulator and ensure that Nigerians are not short-changed in any way in this process.’’
“You know how things are globally with the impact of COVID-19 on the global oil market. Accessing forex remains a challenge for marketers.’’
“We are hopeful that in a few months to come, Nigerians will understand what the government is doing to stabilize the downstream sector.’’
Going further, the PPPRA Executive Secretary revealed that going forward, the price of premium motor spirit (PMS) popularly referred to as petrol, will be determined by the forces of demand and supply together with the international price of crude oil.
He reiterated that the government was no longer in the business of fixing the pump price of petrol, but would monitor marketers to avoid profiteering.
He also disclosed that the PPPRA may no longer provide the monthly price band for petrol as that would run contrary to the deregulation policy.
Energy
Nigeria now generates 13,000mw of power – Minister of Power
Nigeria’s installed grid power generation capacity has increased from 8,000mw to 13,000mw under President Muhammadu Buhari.
Minister of Power, Engineer Sale Mamman, disclosed that Nigeria’s installed grid power generation capacity has increased from 8,000mw to 13,000mw under the leadership of President Muhammadu Buhari.
This was stated by the Minister during the 2021 budget defence, before the House of Representatives Committee on Power in Abuja, as reported on the Twitter handle of the Office of the Minister of Power today.
Nigeria now generates 13,000mw of power, says Minister.
The Minister of Power, @EngrSMamman has said that the Nigeria’s installed grid power generation capacity has grown from 8,000mw to 13,000mw under the leadership of President @MBuhari pic.twitter.com/4CJhyS6DXs
— Office of the Minister of Power (@PowerMinNigeria) October 29, 2020
However, members of the committee raised concerns about power supply to their various constituencies, urging the minister to ensure adequate supply.
The Minister explained that the distribution system had the capacity to evacuate 5,500mw of power, which is a significant improvement from 4,500mw in 2015, and that better performance should be expected in the near term.
Engr. Aliyu Magaji (APC-Jigawa), the Chairman of the committee, asked the Minister to mete out stiffer sanctions to the Distribution Companies (DisCos), to make them to sit up and provide the desired services to Nigerian people.
Magaji said that if the minister ensured the sanction of the DisCos, he would become the darling of lawmakers and the entire Nigerians.
What they are saying
On the performance of the Ministry since 2015, Engineer Mamman said:
“During the period between 2015 to date, the sector has recorded successes and has faced challenges. In order to deliver this administration’s promise of providing stable and affordable power to Nigerians, a way forward was defined and supported by Mr. President’s political will.”
Energy
FG to invest in the deployment of Mini-grid systems to power 5 million homes in 2021
The Minister said the government will invest in Mini-grid systems that will provide power for 5 million homes in 2021.
In a bid to provide remote communities with clean and affordable energy, the Minister of Power, Engineer Sale Mamman has disclosed that the Government is set to invest heavily in the deployment of Mini-grid systems that will provide power for 5 million homes in 2021.
This disclosure was made by Engr. Sale Mamman in a statement released into the mainstream media via his official Twitter handle.
READ: Electricity: Nigeria now has an installed generation capacity of 13,000MW – Minister of Power
It is virtually impossible to have the National grid covering every geographical point within Nigeria, that is why Government is investing heavily in the deployment of Mini-grid systems which can easily get to the most remote communities and provide clean, affordable energy.
— Engr. Sale Mamman (@EngrSMamman) October 29, 2020
The Minister explained that it is virtually impossible for the National grid to cover every geographical point within Nigeria. He emphasized that this reality prompted the present administration to sort out alternatives, and as a result, the Government is set to invest heavily in the deployment of Mini-grid systems, which can easily get to the most remote communities and provide clean, and affordable energy in 2021.
READ: Nigeria to fix irregular power supply in 40 years- Senate
What they are saying
The Minister, in his statement, said, “It is virtually impossible to have the National grid covering every geographical point within Nigeria, that is why the Government is investing heavily in the deployment of Mini-grid systems, which can easily get to the most remote communities and provide clean, affordable energy.
“In 2021, part of our priorities at the Ministry and two of its implementing agencies will be on providing these Mini-grid systems for communities and stand-alone home solar systems. We have a target of 5 million homes. Clean, affordable, and accessible energy for all.”
(READ MORE:FG set to create at least 5 million jobs for youths in the power sector – Minister of Power)
What you should know
The Minister of Power, Engineer Sale Mamman, at the 2021 budget defense before the House of Representatives Committee on Power in Abuja, yesterday disclosed that Nigeria’s installed grid power generation capacity has grown from 8,000MW to 13,000MW under the leadership of President Muhammadu Buhari.
READ: UPDATED: FG appoints Eweluka as NBET MD, as finance, power ministers wrestle
The Minister also pointed out that the distribution system had the capacity to evacuate 5,500MW of power, which is a significant improvement from 4,500MW in 2015.
Energy
Electricity: Nigeria now has an installed generation capacity of 13,000MW – Minister of Power
Engineer Sale Mamman has disclosed that Nigeria’s installed grid power generation capacity has grown from 8,000mw to 13,000mw.
The Minister of Power, Engineer Sale Mamman, has disclosed that Nigeria’s installed grid power generation capacity has grown from 8,000mw to 13,000mw under the leadership of President Muhammadu Buhari.
A statement was issued by the Office of the Minister of Power via its official Twitter handle.
READ: The number of idle power plants in Nigeria rises to 10
READ: Here is why Gencos may halt power sector investment plans
Nigeria now generates 13,000mw of power, says Minister.
The Minister of Power, @EngrSMamman has said that the Nigeria’s installed grid power generation capacity has grown from 8,000mw to 13,000mw under the leadership of President @MBuhari pic.twitter.com/4CJhyS6DXs
— Office of the Minister of Power (@PowerMinNigeria) October 29, 2020
Yesterday, during the 2021 budget defense before the House of Representatives Committee on Power in Abuja, Engr. Sale Mamman said that under the leadership of President Muhammadu Buhari, the capacity of the installed power generation grid has grown from 8,000mw to 13,000mw.
READ: Buhari to commission Lagos-Ibadan railway January 2021, starts operation November 2020
However, members of the committee raised concerns about the power supply to their various constituencies, urging the minister to ensure adequate supply. The Minister explained that the distribution system had the capacity to evacuate 5,500mw of power, which is a significant improvement from 4,500mw in 2015, and better performance should be expected in the near term.
READ: Buhari flags off $2.8 billion gas pipeline project, biggest in Nigeria’s history
Engr. Aliyu Magaji (APC-Jigawa), the Chairman of the Committee, asked the Minister to mete out stiffer sanctions to the distribution companies (DISCOs), to enable them to sit up and provide the desired services to the Nigerian people.
Magaji said that if the minister ensured the sanction of the DisCos, he would become the darling of lawmakers and the entire Nigerians.
READ: Buhari earmarks N420 billion for N-Power, GEEP and others under NSIP in 2021 budget
READ: GenCos want Discos’ job as it seeks to sell electricity directly to customers
What they are saying
Speaking on the performance of the Ministry since 2015, Engineer Sale Mamman said, “Under the able leadership of President Muhammadu Buhari, the country’s grid power capacity has increased significantly from the time this administration took over in 2015 to date.”
READ: FG set to create at least 5 million jobs for youths in the power sector – Minister of Power
He explained further that, “during the period between 2015 to date, the sector recorded successes and has faced challenges. In order to deliver this administration’s promise of providing stable and affordable power to Nigerians, a way forward was defined and supported by Mr. President’s political will.”
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