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FG Hands Over Electricity Assets To 15 Private Firms

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President Goodluck Jonathan signed deals on Monday handing over state electricity assets to 15 bidding companies, a milestone in a privatisation process meant to end decades of power blackouts.

The handover in a ceremony at the presidential residence came a month after the bidders for 10 generation companies and five distribution companies paid deposits of 25 percent of the value of their bids.

The Power Holding Company of Nigeria (PHCN) is being broken up into 15 firms handling generation or distribution in different parts of the country; with the aim of doing something no Nigerian president has managed for decades: switching the lights on.

Despite being Africa’s top energy producer with the world’s seventh largest gas reserves, Nigeria produces and distributes only enough power for a few hours a day in the places that get it at all.

Economists say power outages cost Nigeria billions of dollars on imported diesel for generators and in lost output. They say current GDP growth of around 7 percent could be pushed into double figures if electricity supply could be sorted out.

Power output is currently about 4,000 megawatts for a country of 170 million people.

“Today’s event signals a major step forward in the implementation of our power sector road map,” President Jonathan said. “I congratulate the signing parties for reaching this significant target in our collective efforts to revitalize this sector, which is so important to our lives and development.”

Previous state sell-offs in Nigeria were blighted by political infighting and graft, which have caused years of delays. Regulators say this process was more transparent. Although it has appeared to favour established Nigerian oligarchs, some of them with scant experience of operating power companies, most have teamed up with capable technical partners like Siemens.

World Bank officials also signed a credit risk guarantee on a loan from Deutsche Bank’s U.S. subsidiary to finance gas supplies to the 1,320 megawatt Egbin Power Plant, which is based outside Nigeria’s commercial-hub Lagos, and of which Korea’s KEPCO was offered a 70 percent stake this month.

Source: Channels TV

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Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun

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Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun
Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun

#EndSARS protesters in Osun

The Governor of Osun State, Gboyega Oyetola on Saturday, escaped an attack by thugs which happened while he was addressing #EndSARS protesters in Osogbo, the state capital.

Some of the vehicles in the Governor’s convoy were also destroyed by the thugs but the Governor himself was evacuated to safety by his security team.

Also Read: #EndSARS: Hold Enugu State Govt Responsible If Anything Happens To Us – Phyno, Kcee, Zoro

As the convoy was leaving the protest venue, some of the youths continued to stone his vehicles.

While the protest was disrupted, Governor Oyetola assured the injured victims that the government would be responsible for their medical bills.

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#EndSARS: Sanwo-Olu Constitutes Panel Of Enquiry

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#EndSARS: Sanwo-Olu Constitutes Panel Of Enquiry
#EndSARS: Sanwo-Olu Forms Panel Of Enquiry

Babajide Sanwo-Olu

In a bid to quell the #EndSARS protest which is spreading like a raging inferno across the country, Babajide Sanwo-Olu, the Governor of Lagos State has set up a panel of inquiry and restitution for victims of SARS.

This was announced in a statewide broadcast on Thursday.

The panel will be a 7-man panel which will ensure that all those with verifiable cases of SARS brutality or fatality receive compensation.

Also Read: BREAKING: EndSARS: Gov Sanwo-Olu reveals identities of policemen who harassed protesters

The Panel will be chaired by retired Justice Doris Okuwobi, while members are Ebun Adegboruwa, SAN (representing the Civil Society), Taiwo Lakanu (a retired Deputy Inspector General of Police), Patience Udoh (representing the Civil Society); Segun Awosanya aka Segalink (Human Rights Activist).

Others are Olutoyin Odusanya (Director, Citizens Mediation Center), a rep/member of the youth-led protest, and a representative of the Human Rights Commission.

There will be a help desk for the complaints and petitions to the panel.

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Governor Seyi Makinde Loses 81-Yr-Old Mother

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Governor Seyi Makinde Loses 81-Yr-Old Mother
Seyi Makinde

Oyo State Governor, Seyi Makinde

Abigail Makinde, the mother of the governor of Oyo State, Seyi Makinde, is dead.

The Chief Press Secretary to Mr Makinde, Taiwo Adisa, however, told newsmen that the family will soon make an official statement on the death of the deceased.

He said: “Yes. The family will make an official statement.

“The family will soon make an official statement. In the next few minutes, the family will make an official statement, in few minutes.”

It was gathered that Mr Makinde lost his father, Olatunbosun Makinde, a few years ago.

It was learnt that Mrs Makinde died in the early hours of Thursday.

She died at the age of 81.

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