GenCos Incur N27.14bn losses, 4,724.76MW stranded

With Electricity Distribution Companies, DisCos, unwilling to offtake available power, Generation Companies, GenCos, have disclosed that they lost N27.14 billion in January and February 2024 after 4,724.76MW capacity was left stranded.

Data posted by the Association of Power Generation Companies, APGC, showed that in January while available power generation capacity was 6,444.05 Megawatts actual average daily generation was 4,293.86MW, leaving 2,150.37MW of power stranded at a loss of N13.04 billion.

In February, available power generation capacity was 6,384MW while actual average daily generation was 3,809.96MW leaving 2,574.39MW of capacity unutilised at a cost of N14.10 billion.

In a note obtained from the CEO, APGC, Dr. Joy Ogaji however explained that contrary to the narrative in the public domain, power generation was not the problem in the sector.

She claimed that GenCos were being paid only 30 percent of their invoice, wondering how the plants were expected to operate efficiently in such an environment.

“The narrative out there has been that there is not enough generation. But has anyone bothered to check the NSONG (the portal for generation and distribution data managed by the National System Operator) to see if the declared capacity and availability was fully utilised ever in the history of our power consumption?

“Then what is the discussion around remittances or payments? Can 30% of half (energy without capacity payments) your invoice component sustain any business? Given that demand drives production. Are we really ready for optimal supply?, she queried.

Commenting on the issue, the President, Nigeria Consumer Protection Network, Mr. Kunle Olubiyo bemoaned the present poor state of power supply in the country, stressing that the “situation is getting worse with energy crisis in Nigeria

“Nobody sleeps with light (power) again and the hot weather is not helping matters. The Federal Government needs to resolve the issues with pre-privatisation exercise, legacy debts and post pivatisation era debts to gas producers/gas suppliers”.

Tinubu Appoints Chioma Awuzie Substantive Rector, Fed Poly Oko

President Bola Ahmed Tinubu has approved the appointment of Dr. Chioma Irene Awuzie as the substantive Rector of Federal Polytechnic, Oko, Anambra State. Dr. Awuzie's appointment, which takes effect immediately for a five-year term, follows the recommendation of the Polytechnic's Governing Council, chaired by Sen. Dr. Barnabas Gemade, after a transparent and competitive selection process where she emerged as the leading candidate. Prior to her appointment, Awuzie, who holds a Doctorate Degree in Physical and Materials Chemistry, was a distinguished Chief Lecturer in the Department of Science Laboratory Technology (Chemistry Option) and also Director in-charge of Tertiary Education Trust Fund (TETFund) Projects in the Polytechnic. Under her stewardship, Federal Polytechnic, Oko, witnessed unprecedented advancements in infrastructure and institutional transformation. Her leadership facilitated monumental developments across the Polytechnic’s campuses in Oko, ...

#Watchvideo : SECURITY FORCES BURST THE CAMP OF UNKNOWN GUNMEN IN AKOKWA

Security Forces in the state through a coordinated intelligence report has bursted the camp of the unknown gunmen at Akokwa, Arondizuogu after a long gun duel which resulted to the death of some of the criminals and others arrested. These criminal elements have been known to be behind several attacks in the state such as the killing of police men in Mbaise, Aba Branch in Ehime Mbano, burning down of police stations, attack and attempted kidnapping of former Governor Ikedi Ohakim, abduction of Miss. P.P. Johnson, a female soldier in Okigwe and recently the attack in Akokwa that left many dead. It is obvious that these daredevil gunmen have been perpetuating their evil plans unabated until yesterday when their camp was bursted by security agencies. This is another assurance that our security operatives are leaving no stone unturned in the fight against banditry and other related activities. While it has become obvious that the activities of these non state actors are politically motivate...

Tension In Uruagu Nnewi As Community Leaders Dare Soludo,Defy Court Order

The President of Uruagu-Nnewi Development Union, Chief Sunday Okoli aka Organizer, and the Obi of Uruagu-Nnewi community in Nnewi North local government area of Anambra State, His Majesty Afamefuna Charles Obi, have swept Soludo's directive to the gutters, by reason of their suspension and subsequent dessolution of the leadership of the community's youth forum, led by Ejike Ifejiofor, and subsequent appointment of caretaker executive to pilot the affairs of youths in the community. The Anambra governor had, through a letter dated August 9, 2024, signed by the Permanent Secretary, Anambra State Ministry of Youth Development, Dr. Martin Agbili, warned the community leaders to stay any action regarding suspension of the Uruagu-Nnewi youth forum. The community had, through its PG, Chief Okoli, written to the Ministry of Youths Development, notifying the ministry of "immediate suspension" of the youth group over alleged insecurity in the area. But the ministry,...