News
NBET to deploy automated energy trading platform for power sector
The Nigerian Bulk Electricity Trading (NBET) says it plans to deploy an automated energy trading platform/exchange to promote bilateral trading between Independent Power Plants (IPPS) and commercial/industrial customers in 2023.
The Managing Director of NBET, Mr Nnaemeka Ewelukwa, disclosed this in a document titled, ‘Actualising Enhanced Electricity Supply and Commercial/Industrial Decarbonisation in Nigeria,’ made available to newsmen in Abuja.
Ewelukwa said that the platform would have multiple energy brokers playing key roles in linking energy suppliers and customers registered.
According to him, the IPPS wishing to sell power can register on the platform and immediately have access to a comprehensive database of commercial/industrial customers across the country, and their energy requirements.
He listed those that would be involved in the platform to include: Commercial and industrial customers and industrial clusters; generation plants; transmission and distribution networks.
Others are Gas pipeline networks; energy locations, including solar irradiation, wind and mini-hydro potentials.
“The platform will efficiently link sufficient numbers of buyers and sellers thus facilitating price discovery.
“With price discovery, energy buyers and sellers have the assurance that they are purchasing these commodities at fair prices in a reliable marketplace.
“It will also ultimately enhance the overall visibility of tariffs, capacity availability, costs and prices along the energy value chain, which will aid buyers and sellers in undertaking transactions,” he said.
Ewelukwa said that the platform would facilitate private investments in the transmission/distribution network in order to fully bridge the infrastructure gap between electricity demand and supply.
According to him, it will also reduce the technical, commercial and collection losses in the system.
He said that the platform would also promote business partnerships involving customers, IPPs, the Transmission Company of Nigeria and the Distribution Companies.
Ewelukwa also said that a comprehensive interactive map would be developed by NBET, which will show the geo-locations of the facilities within Nigeria and the ECOWAS sub-region.
He said that the interactive map would facilitate transaction structuring by willing buyers and sellers, and network investment coordination.
It would also guide investment decision-making, and facilitate greater policy planning and efficient resource planning.
Ewelukwa said that the Securities and Exchange Commission, Nigerian Electricity Regulatory Commission (NERC), as well as the Nigerian Midstream and Downstream Petroleum Regulatory Authority were being engaged by NBET.
“The Federal Ministries of Power; Finance, Budget and National Planning; Industry, Trade and Investment; as well as the media and Civil Societies Organisations (CSOs) were being engaged
“NBET was interfacing the Manufacturers Association of Nigeria (MAN), Nigeria Employers Consultative Association Chambers of Commerce, Industry, Mines, and Agriculture, Nigeria Association of Small Scale Industrialists; and Nigeria Association of Small and Medium Enterprises,” he said..
The managing director said that the administration of the Power Purchase Agreements (PPAs) and vesting contracts by the agency had resulted in electricity payments worth N5 trillion from February 2015 to date.
According to him, the Azura Power Plant in Edo, the first financed power project in Nigeria, heralded an investment of close to 1 billion dollars.
Ewelukwa also said that NBET had executed PPAs with 14 solar Independent Power Projects (IPPs) for one gigawatt (1GW) of electricity.
He said that acting as the anchor for the Federal Government of Nigeria-World Bank Power Sector Recovery Programme (PSRP), NBET made the World Bank make available $750 million for the Power Sector Recovery Operations (PSRO) loan.
He said that the agency was instrumental to FGN’s budgetary appropriation in addressing tariff shortfalls in the electricity market.
Ewelukwa listed other milestones achieved by NBET including the facilitation of the privatisation of generation companies (GenCos) through PPAs with core investors.
“Others are the 2.5 billion dollar privatisation of GenCos and DisCos (2013). Facilitation of Afam Power Plc and Afam the three Fast Power limited (N105.3 billion; 343.6 million billion
“The successful and transparent management of the N1.3 trillion payment assurance facility that aided a 30 per cent increase in the highest peak generation ever attained.
“From 4500MW (February 2015) to 5,800MW (March 2021), due to capacity recovery by generation companies,” he said.
(NAN)
NBET to deploy automated energy trading platform for power sector
General
Customs generated N275.8m in Ogun in 2024 – Comptroller
Nigeria Customs Service (NCS), Ogun 1 Area Command, says it generated a total revenue of N275.8 million within the state in 2024.
The Comptroller of the command, Mr Mohammed Shuaibu, disclosed this during a news conference on Tuesday in Idiroko, Ogun.
Shuaibu said that the ‘huge revenue generation’ was made possible through the diligent efforts of the command’s officers and cooperation of traders.
He also said that the command was able to achieve the milestone through intelligence-driven operations and dedication of the officers.
“The revenue was actualised through the collection from baggage assessment, proceeds from auction sales of premium motor spirit (PMS) and vehicles,” he said.
Shuaibu listed the items seized to include: 16,712 bags of foreign parboiled rice, 139,881 litres of PMS, 940 rounds of live ammunition, 71 sacks of Cannabis Sativa and 3,253 parcels of same substance.
Others were: 586 bales of used clothes, 86 vehicles used for conveyance, 18 foreign used vehicles, 2,150 pieces of used pneumatic tyres, 760 pieces of donkey skins, 3,766 cartons of frozen poultry products and 85 bags of imported flour.
“These achievements are a testament to our efforts at combating smuggling activities, protecting the economy and safeguarding the well-being of the society,” he said.
Shuaibu commended the Comptroller-General of Customs, Mr Adewale Adeniyi, for his continuous support and for creating an enabling environment for the command to thrive.
He also lauded the officers and men of the command for their resilience, professionalism and dedication to duty, saying that these were instrumental to achieving the milestones.
Headlines
Nigeria Customs sets 30-day deadline for import consignments clearance
The Nigeria Customs Service (NCS) says it is reinforcing provisions that mandate imported consignments to be cleared within 30 days of arrival.
This applies after the importing carrier has completed discharge or within a timeframe prescribed by the service, as outlined in Section 30(1) of the Nigeria Customs Service Act (NCSA) 2023.
The Spokesperson of the service, Abdullahi Maiwada, made this known in a statement on Tuesday in Abuja.
“To enhance efficiency in cargo clearance, all consignments shall enjoy 30 days from the date of arrival at the port, free of overtime clearance encumbrances, “he said.
Maiwada said the directive was part of NCS`s new guidelines on dwell time for import and export consignments at port terminals across the nation, which it would begin implementing.
He said the new measures aimed at addressing port congestion, streamline clearance processes, and reducing disputes arising from the disposal of overtime cargo.
He added that the measures were also part of the NCS’s commitment to trade facilitation in line with the Federal Government’s Ease of Doing Business initiatives.
“In addition, Section 149(1) empowers the service to establish time limits for cargoes to leave customs territory.
“These guidelines will ensure compliance, prevent undue delays, and maintain order at port terminals while allowing importers and exporters ample time for cargo clearance, “he said.
He said that cargo exceeding 30 days would be deemed “overtime” but may still be cleared within an additional 30 days upon application and approval by the relevant Customs Area Controller (CAC).
“Where a consignment remains undeclared within 60 days, clearance shall require approval from the Assistant Comptroller General/Zonal Coordinator upon application, “he said.
According to him, the clearance opportunity is valid for 90 days from arrival, and any consignment not cleared within this period will be subject to the commencement of the disposal process.
He, however, stated that, without prejudice to the stated guidelines, the service reserved the right to initiate the disposal process, if necessary, following the initial 30-day grace period stipulated by the NCSA 2023.
He said that the NCS, under the leadership of Comptroller-General Adewale Adeniyi, remained committed to ensuring a transparent and efficient cargo clearance process that prevented undue port congestion and mitigates legal disputes related to overtime cargo.
He added that the NCS was determined to enhance overall trade facilitation through these measures and urged stakeholders to comply with the regulations to ensure smooth trade operations.
Headlines
Court summons Iyabo Obasanjo, ex-Senator, others over Abuja property dispute
A Federal High Court in Abuja on Tuesday, ordered Sen. Iyabo Obasanjo, the eldest daughter of former President Olusegun Obasanjo, to appear in court to show cause why she should not be stopped from trespassing into an Abuja landed property.
The News Agency of Nigeria (NAN) reports that the property is located at Plot 4254, Cadastral Zone A04, measuring approximately 1.67Ha in Asokoro District, FCT, Abuja.
Justice Inyang Ekwo, in a ruling on an ex-parte motion moved by counsel to the plaintiffs, Abniyilo Na’allah; also ordered the former Senator representing the FCT, Philip Aduda, and five other co-defendants to appear before the court in the next adjourned date.
Other defendants named in the ex-parte motion marked: FHC/ABJ/CS/67/202 include Ismail Iron, John Mbata, Jamaila Sani Alhassan, Altine Jibrin, and unknown persons as 3rd to 7th defendants respectfully.
“A motion ex-parte for an order for interim injunction dated 13th January, 2025 and field 17th January, 2925, is moved.
“Upon studying the prayers and averments in support of the motion ex-parte and the averments in the affidavit of urgency, I am of the opinion that the prayers are not such that can be granted without hearing from the defendants.
“I hereby make an order that the plaintiffs/applicants should put the defendants on notice within seven days of this order and the defendants to show cause why the prayers sought should not be grated,” Justice Ekwo ruled.
However, the judge granted the prayer in the second ex-parte motion equally moved by Na’allah seeking for an order of substituted service of all the originating processes and other court documents on the defendants through publication in two national dailies.
Earlier, the lawyer submitted that the defendants/respondents’ addresses and occupation were not known to them at the time of filing the substantive suit which is pending before thie court.
He alleged that the defendants/respondents are always seen on Plot 4254, Cadastral Zone A04 at Asokoro in Asokoro District of Abuja.
He said services of the originating processes and all other court processes on the defendants/respondents would become very difficult and impossible since there addresses were not known to them.
The lawyer said it would occasion unnecessary delay to effect service personally on the defendants/respondents, urging the court to grant their relief.
Justice Ekwo, who directed the plaintiffs to effect the service of the processes on the defendants within seven days of the order through publication, adjourned the matter until March 6 for defendants to show cause why the interim. Order should not be granted.
NAN reports that the plaintiffs; ABB Electrical Systems Limited and Chief Amb. Yohana Y.D. Margif are 1st and 2nd plaintiffs or applicants in the motion dated Jan. 13 but filed Jan. 17 by Na’allah.
The applicants sought an order of interim injunction restraining the defendants/respondents from entering, trespassing, altering or modifying the property known as Plot 4254, Cadastral Zone A04, measuring approximately 1.67Ha, Asokoro, Asokoro District FCT-Abuja belonging to the plaintiffs pending the hearing and determination of the suit
In their six-ground argument, the applicants said they were agitated with the fear of the defendants entering, trespassing, altering or modifying the property belonging to them given the alleged imminent threat made by the defendants on the land to forcefully take possession and ownership from them.
They said they are the rightful owners of the land by virtue of the statutory Right of Occupancy granted to them
“That the plaintiffs/applicants have been in quiet and peaceful possession of the land without any challenge from the defendants/respondents or anyone at all.
“It will occasion serious miscarriage of justice against the plaintiffs/applicants if the defendants/respondents are allowed to tamper with, enter, trespass, alter or modify the property belonging to the plaintiffs.
“Allowing the defendants/respondents to tamper with, enter, trespass, alter or modify the property belonging to the plaintiffs will destroy the res and render the judgment of this court nugatory,” they said.
The applicants said irreparable damage would be caused to them if the defendants were not restrained.
Chief Margif, in the affidavit he deposed to, said the company (1st plaintiff) was allocated the parcel of land by the Federal Capital Development Administration (FCDA) covered by a Statutory Right of Occupancy with new issued date of May 23, 2006.
He said the company intended to start developing the said land in compliance with terms contained on the statutory Right of Occupancy and other guiding rules and laws within the FCT.
He alleged that the recent activities of the defendants, including Sen. Obasanjo, who represented Ogun Central Senatorial District between 2007 and 2011, had become worrisome.
Margif prayed the court to grant their application in the interest of justice.
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