Sunday 23rd October 2016

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Payment Default: Gencos Mull Direct Sale to Heavy Consumers Chineme Okafor in Abuja Electricity generation companies (Gencos) in Nigeria are considering the option of selling some of their generated power directly to heavy consumers following the continued failure of distribution companies (Discos) to conve-

niently pay for capacities generated and sold to them, the Managing Director of Niger Delta Power Holding Company (NDPHC), Chiedu Ugbo, has disclosed. Speaking to journalists on the side-lines of the October 2016 edition of Nextier Power Dialogue in Abuja where it was disclosed that the electric-

ity market’s revenue shortfall had risen to N809 billion and could get to N1 trillion by the end of 2016, Ugbo said the option of direct sale to heavy electricity users like steel plants was being mulled by the Gencos. He said the option of direct contract was considered by the Gencos for the simple rea-

son that the Discos have often failed to adequately pay for whatever volume of power they get from them despite indications that they are paid by heavy power consumers. Ugbo, however, said the proposal would need the approval and declaration of the Minister of Power, Works and Housing, Babatunde Fashola,

because Nigeria’s power policy would not permit operators to independently choose who to sell their services or products to. His disclosure also followed complaints by the Discos that the N213 billion intervention fund initiated by the Central Bank of Nigeria (CBN) to cushion such market

pressures have not lived up to its expectations. The Discos through their network – the Association of Nigerian Electricity Distributors (ANED) had faulted the CBN intervention fund on the basis that its demands and expectations were quite unreContinued on page 6

Era of Wasteful Spending Over, Buhari Tells Universities...Page 6

Sunday 23 October, 2016 Vol 21. No 7857

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Fresh Power Tussle Threatens PDP Reconciliation Onyebuchi Ezigbo in Abuja The peace move agreed by the two factions contending for power in the Peoples Democratic Party came under threat from fresh wran-

gling over the terms of the resolution last week. THISDAY learnt that there was disagreement between the chairman of the PDP national caretaker committee, Senator Ahmed Makarfi, and the ousted national

chairman, Senator Ali Modu Sheriff, over who should supervise the fresh national convention decided as part of the settlement process. The main opposition party had become factionalised since after its contro-

versial national convention on May 21 in Port Harcourt. Sheriff was removed as national chairman at the Port Harcourt convention and replaced with Makarfi, who was appointed to head a caretaker committee as-

sembled to run the affairs of the party. But Sheriff insisted he was PDP national chairman, citing foul play in the process of his removal. Efforts by the PDP Board of Trustees to settle the warring factions and put the party

back on track had proved abortive. A second convention on August 17 in Port Harcourt, which was held to try to resolve the issues and elect substantive naContinued on page 6

CJN: ‘Sting Operation’ Assault on Independence of Judiciary

Says judiciary not on trial, issue between NJC and DSS Alleges secret police yet to communicate judicial council Backs Buhari’s anti-corruption drive, vows not to shield corrupt judges Tobi Soniyi in Abuja In his first official reaction to the raid carried out on residences of some judicial officers two weeks ago by operatives of the Department of State Services and arrest of four judges, the Chief Justice of Nigeria, Justice Mahmud Mohammed, has said the ‘sting operation’ was an assault on the independence of the judiciary. Justice Mohammed also said that two weeks after the operation was carried out, the DSS had yet to forward any complaint or any official communication regarding the seven judicial officers to the NJC. In an unprecedented sting operation targeted at judicial officers accused of involvement in corrupt practices, the DDS had on October 8 and 9 raided the homes of judges in different states and Abuja leading to the arrest of some of them including two Supreme Court justices, Sylvester Ngwuta and Inyang Continued on page 6

A

WEEKLY PULL-OUT

23.10.2016

TUNDE ADEWALE (TEE A)

THE GENTLEMAN OF COMEDY

A WORTHY CAUSE

R-L: Former Secretary to the Government of the Federation, Amb. Babagana Kingibe; Chairman, Oladapo Olusegun Adebutu Foundation, Olusegun Adebutu; Ooni of Ife, Oba Adeyeye Ogunwusi, and Chief Kessington Adebutu, at the formal inauguration of Oladapo Olusegun Adebutu Foundation in Abeokuta ...yesterday Abiodun Ajala


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