FG Recovers $64.6m Electricity Debt From International Customers The Federal Government on Monday announced that it had recovered 64.6 million dollars electricity debt from its international customers. Minster of Power, Works and Housing, Babatunde Fashola announced this at the 21st monthly power sector meeting in Asaba. Fashola, in a text of his opening remark made available to the News Agency of Nigeria (NAN) in Abuja, said that the money recovered was from Benin and Niger Republics. He said that Nigerian Bulk Electricity Trader (NBET) would work out modalities for distribution of the fund to the value chain operators. The minister also announced that Rural Electrification Agency (REA) had completed guidelines for the operation of the rural electrification fund. He said that the fund would help vulnerable groups and communities to gain access to funding to support their electricity development programme. “By way of explanation, the rural electrification fund was created by section 88 of the Electric Power Sector Reform Act (EPSRA) of 2005 to promote support and provide rural electrification access. “The fund will provide a partial single payment capital subsidy and or technical assistance to eligible private Rural Power Developers, NGOs or communities to invest in options such as hybrid mini grids or solar home systems to scale up rural access to electricity. “What they are likely to get are minimum amounts of N3.5m and maximum amounts of N106m or 75 per cent of project cost whichever is less,” he said. According to him, REA will publish details of the guidelines and eligibility. These, he said, were only headline items of developments that characterised the progress the government was making month after month, especially since March 2017. He said that progress was also being recorded at the distribution levels. He listed the recent achievements in the franchise areas of the Benin DisCo to include the newly completed Asaba main 2x15MVA injection substation commissioned on Monday. Fashola said the completion of the substation was expected to improve service by reduction of load shedding and increase power supply to Okwe, Akuebulu, Jarret, Ogbeofu, Osadebe way, Okwe housing estate and Oduke. “Minute by minute, hour by hour, day by day, week by week and month by month we have not only gained momentum, we are seeing progress that inspires us to continue, because the power problem can be successfully managed by Nigerians.” On further measures to improve power supply in the coverage areas of the Benin DisCos, Fashola said Asaba – Benin 330KV line was energized to service on Nov. 3. Asaba 330kv substation is now being fed from both Benin and Onitsha. “The line also raised the number of circuits from Onitsha to Benin to three. According to him, a 40mva 132/33kv mobile transformer is undergoing installation at Auchi with in-house capacity to be commissioned in two weeks time. Fashola also disclosed that a new 330/ 132kv substation would be constructed at Okpai with a 132kv line from the station to service a proposed 132/33kv substation at Kwale. He also hinted that installation of a new 60mva 132/33kv transformer would commence at Irrua transmission station any time from now. The minster thanked well-meaning Nigerians who acknowledged that their experience on the power supply had improved, adding that their honesty inspired government and the operators to continue the improvement. He, however, admitted that there were other challenges that must be collectively addressed. On estimated billing and metering, he also explained that government and sector operators were anxiously awaiting for the regulation from NERC to open up meter supply business. ...

Before Perception Becomes Reality A Statement By The Hon. Minister Of Power, Works And Housing, Mr Babatunde Raji Fashola, SAN Before perception becomes reality, I feel compelled to make this Statement in response to allegations bordering on financial impropriety raised on the Floor of the Senate against the Ministry of Power, Works and Housing, my Office as Minister, the staff of the Ministry and by extension my person. The sum and substance of the allegations to which the Ministry will provide full, factual and detailed response when formally invited are that: 1.   An amount in the region of $350million being part of a $1billion Eurobond facility taken in 2013 has gone missing or has been diverted. 2.   That the Ministry, had procured a contract for Afam Fast Power and paid $26million or thereabout for it. With all emphasis, I state that there is no factual basis for the allegations. The Ministry, my staff and I have done nothing wrong and we will collaborate fully with the Investigating Committee when called upon. For now, it suffices for members of the public to note that I wasn’t a Minister in 2013, and that when Government raises a Debt like the Eurobond, it is the Debt Management Office that manages the Debt and not the Ministry. The Nigeria Sovereign Investment Authority (NSIA) had on Monday, 6th November 2017 issued a Statement on the Front Page of The Nation Newspaper explaining that the money was not missing, stating also that the $350 million had been invested and that interest had even accrued on the money. If there was no ulterior motive for the allegation, this was enough reason for a reconsideration of the presentation of the Motion on the Floor of the Senate on the 8th of November 2017. But the story seemed to have changed from “missing money” last week, to a “desperate attempt to retrieve the money “, this week. As for the Afam Fast Power, the sum and substance of it is that , it was an investment by the General Electric, a globally reputed Original Equipment Manufacturer (OEM), to invest in our country and support our effort to get good quick power under our Roadmap of Incremental, Steady and Uninterrupted power. They offered to do this by providing Nigeria with mobile turbines of 600MW if we could find a location with Gas and Transmission evacuation infrastructure. The Afam Power Station fitted  because it had transmission and evacuation facilities but all its turbines had been virtually run down. The investment was contingent on paying $27,990,000 million which was 15% of 8 (eight) units of 30MW turbines each totaling 240MW valued at about $186,600,000:00. This payment of $27.9m was made without breaching any law. At this moment, the turbines have arrived Nigeria and currently at the Onne Port. This is verifiable just as works are on going on the site – civil and engineering – preparing to receive the turbines , and install other equipment already at site. All of these are verifiable by all well meaning Nigerians who may want to undertake the inspection. We expect that the project will be commissioned soon enough to add 240MW to the Grid. This will be one of the fastest power projects when delivered, compared to inherited power projects before this Administration. Investors to the best of my knowledge do not require Parliamentary approval to invest in our Country. All of these facts could have been easily verifiable by a simple letter from the Senator to the Ministry without the furore and suggestions of wrong doing and malfeasance. We must be careful about what we say and do with regards to investments and investors which we clearly need in all sectors of our developmental life and in particular in infrastructure and power. Unverified allegations such as the ones under discussion constitute an imminent threat to our investment climate.   For the avoidance of doubt, there has been no wrong doing whatsoever.   ...

Fashola Flags Off 9th Experts’ Meeting On Abidjan-Lagos Corridor Highway Development Programme •Says President Buhari is fully committed to realisation of the Project to enhance trade and communication within the sub-region •Highway will enhance rapid sub-regional integration, improve socio-economic activities, job opportunities and curb social vices-Minister The Minister of Power Works and Housing, Mr. Babatunde Fashola SAN, Tuesday in Abuja, flagged off the 9th Steering Committee & Experts Meeting on the Abidjan-Lagos Corridor Highway Development Programme saying the highway would  enhance rapid sub-regional integration and communication and other benefits among the stakeholders. In his address at the Transcorp Hilton venue of the 3-day Meeting, Fashola named other benefits of the Highway to include improvement in socio- economic activities among the West African countries, creation of employment opportunities and reduction in social vices, adding that rapid integration would enable the sub-region keep abreast with other fast growing economies such as Asia and South America. The Minister told the gathering of experts and professionals representing the five ECOWAS countries involved in the project-Nigeria, Ghana, Cote D’Ivoire, Benin Republic and Togo- “With the development of this Corridor, we will enhance rapid integration that already exists in other economic blocs in other parts of the world”. “It will improve socio- economic activities among the West African countries and it will lead to rapid integration, creation of employment opportunities and reduce social vices among our population”, he said adding, “It testifies to the strong bond among the African countries with common goals and aspirations to develop our sub-region both in terms of standard of living for our people and the level of communication between our countries”. Commending the ECOWAS Heads of State and Governments for their vision leading to the development of the project, Fashola described the meeting of the Steering Committee and Experts on the project as “crucial to the success of meeting the development of the Abidjan-Lagos Corridor project”. The Minister told the Committee, “Let me say that when this Corridor is finished, very few people will see the work that you do; very few people will know how many hours you have spent preparing, planning, working and ultimately implementing the project. But I see that work, I acknowledge it and I appreciate it”. “As you are well aware, road development drives economic growth which the West African Sub-Region must pursue to keep abreast with the fast growing economies in Asia and South America with a view to reducing the migration of our youths and also keeping our precious human capital on the Continent”, he said. Expressing the commitment of President Muhammadu Buhari and the Nigerian Government to the realisation of the project as a means to enhance trade and communication, Fashola declared, “This is why I am also happy to report at this Opening Session that Nigeria has now signed the financing agreement, which was one of the outstanding issues”. The Minister, who also acknowledged the support of the Minister of Finance in signing the Financing Agreement, noted that the global Ease of Doing Business report which was published recently acknowledged that Nigeria made “some inspiring progress”. He added, “And there is still work to be done if we are to deliver on vision of economic prosperity that we have”. “This is why I am very delighted and honoured to address this meeting of experts on the Abidjan-Lagos Corridor Development Project in preparation for the 9th Ministerial Steering Committee Meeting which will hold at this venue over the next few days”, he said. Also thanking members of the team in the Nigerian Ministry of Power, Works and Housing, from the Permanent Secretary to the Directors who were at the flag-off, Fashola, who specially thanked the Director Highways, (Planning and Development) Engineer Chukwunwike Uzo, declared, “I can say very clearly that if these Directors, our staff, were trying to build their own houses, the commitment they will show will not be greater than the commitment they are showing in the development of this project”. Thanking the Committee members for their efforts and wishing them “very happy and fruitful deliberations”, Fashola urged them to dedicate themselves to the noble project, “a project you are clearly committed to”, adding, “It holds the key to cross-border trade, to tourism, to cultural integration and to prosperity”. Earlier in her remarks, the ECOWAS Commissioner for Infrastructure, Antoinette G. Weeks said the meeting of the Steering Committee and Experts on the Abidjan-Lagos Corridor Highway Development would finalize the documents for the various aspects of the project including, according to her, consultancy services in financing and road safety as well as the review of the various technical studies culminating in the award of the contracts. The Commissioner thanked Nigeria’s President Muhammadu Buhari and the Government for hosting the three day event and specifically expressed appreciation to the Minister of Power, Works and Housing, Mr. Babatunde Fashola SAN, as well as the Permanent Secretary, for the ground works and preparations leading to the present meeting. The Abidjan-Lagos Corridor Highway is a 1,008 kilometre highway that will traverse five countries in the Economic Community of West African States (ECOWAS), including Cote D’Ivoire, Ghana, Benin Republic, Togo and Nigeria and will provide access to vibrant sea ports which account for about 90 per cent exports and 60 per cent imports across the sub-region. According to the details released at the event, approximately 558 kilometres of the highway will run through Ghana, approximately 135 kilometres will run through Benin Republic, approximately 180 kilometres through Cote D’Ivoire, approximately 57 kilometres through Togo and approximately 78 Kilometres though Nigeria. Hakeem Bello Special Adviser, Communications To The Hon. Minister   ...