(i) Daily Trust Newspaper page 19, Leadership page 28, and Daily Sun page 28 all reported that, Vice President, Yemi Osinbajo, has said Nigeria will need to spend over $410 billion (about N172.8 trillion) to deliver its energy transition plan by 2060. Speaking further, Osinbajo explained that the plan is to create about 340,000 jobs by 2030 and 840,000 by 2060.
Details of the stories captioned as follows:
Daily Trust: “Energy transition to gulp N172.8trn – Osinbajo”.
Leadership: “Nigeria needs $10bn annually for energy transition – Osinbajo”.
Daily Sun: “FG launches energy transition plan, needs over $410bn’’.
(ii) Daily Trust Newspaper page 20, Nation page 11 and Punch page 19 all reported that, Electricity Distribution Companies (DisCos) has established a new revenue collection milestone of N777 billion in the first quarter of 2022, just as its investors have faulted the recent restructuring of the five DisCos by the federal government. The Association of Nigeria Electricity Distributors (ANED), Executive Director, Research and Advocacy, Barr. Sunday Oduntan, has said despite the unfavourable business environment, the DisCos had improved and installed 129,352 distribution transformers as at 2020 after the power sector privatization of 2013.
Details of the stories captioned as follows:
Daily Trust: “DisCos record N777bn collection in Q1, fault restructuring”.
Nation:“DisCos collect N777b revenue in Q1”.
Punch: “DisCos rake in N777bn from 10.2m electricity consumers’’.
(i) Leadership Newspaper page 25 reports that, the stakeholders in the Nation’s power sector have averred that the timely takeover of five Electricity Distribution Companies (DisCos), as well as the various financial interventions by the Central Bank of Nigeria (CBN), had helped to avert the collapse of many deposit money in banks (DMBs). Speaking further the stakeholders said the power sector has continually suffered a cash crunch, forcing the federal government to inject funds to avert a total collapse, despite a series of government interventions.
Details of the story captioned: “Debts: DisCos takeover, CBN interventions averted banks collapse-stakeholders”.
(ii) Leadership Newspaper page 26 reports that, Nigeria Power Sector Award organizers have called for nomination of the 2022 edition of awards meant to recognize organizations and individuals that have contributed positively to the growth of the power sector.
The proposed maiden of awards of the Nigerian Electricity Supply Industry (NESI), will hold in Sheraton Hotel in Abuja, on 23rd November, 2022, according to a statement by Racheal Salahu.
Details of the story captioned: “Nigeria power sector awards organizer call for nominations”.
(ii) Vanguard Newspaper page 4 reports that, the DisCos yesterday, blamed the Federal Government for the poor performance of the sector. This was as a result of the federal government inability to meet 5,000 megawatts, MW, target due to inadequate supply of gas.
Mr. Sunday Oduntan, Executive Director, Research and Advocacy, Association, ANED, yesterday in his position paper said the Bureau of Public Enterprises, BPE’s “Performance Assessment of nine Nigerian Electricity Distribution Companies (DISCOS) Comprehensive Report of December 2021, had noted Government several commitments and investments have not been executed timely, leading to continuous structural issues impacting DisCos.”
Details of the story captioned: “DisCos indict FG over poor performance”.
(ii) Daily Sun Newspaper page 24 reported that, koolboks, a tech startup has been in existence to bridge the refrigeration gap in Nigeria with solar-powered services.
The co-founder of koolboks, Ayoola Dominic in an interview, talked about the inevitability of the product to Nigerian’s small scale business like those doing frozen food business, hospitals among others.
Details of the story captioned: “Koolboks solar-powered refrigeration system’ll stimulate businesses, economy – Ayoola, Co-founder, Koolboks”.
OdutayoOluseyi
Assistant Director (Press)
