Energy and Power
Ewelukwa Takes Charge of NBET as Amobi Steps Down
Dr Nnaemeka Ewelukwa has assumed office as the acting Managing Director/CEO of the Nigerian Bulk Electricity Trading Plc (NBET) following the step down of Dr Marilyn Amobi.
Ms Aisha Waziri from the Corporate Services Department of NBET made this known in a statement issued in Abuja on Wednesday. adsbygoogle || []).push({});
Recalls that the Minister of Power, Mr Sale Mamman, on Tuesday directed Amobi to step down over myriads of complaints.
Sale also raised a five-man committee to investigate those complaints about Amobi.
Waziri said that Ewelukwa, a General Manager, and the pioneer General Counsel and Company Secretary at NBET, has taken charge of the agency’s operations.
She said that Ewelukwa has been part of the executive management team of NBET and has over 20 years of professional experience spanning private practice, academia and currently, public service.
“Prior to joining NBET, he served as a Technical Adviser on electricity regulatory and transaction issues with the Presidential Task Force on Power (PTFP} set up by the Federal Government to lead the implementation of the reform roadmap for the power sector.
“He has led NBET’s negotiations with Independent Power Producers (IPPs) and the development of Power Purchase Agreements (PPAs} at NBET.
“Paving the way for billions of dollars in additional private sector investments in the electric power sector,” she said.
According to her, Ewelukwa is also a co-author of three globally acclaimed handbooks on electricity transactions; namely, Understanding Power Purchase Agreements (2014}, Understanding Power Project Financing (2016) and Understanding Power Project Procurement (2018}.
“They were supported by the United States Power Africa initiative and the African Legal Support Facility hosted by the African Development Bank (AfDB).
“A qualified lawyer by training, Ewelukwa holds an undergraduate law degree from the University of Nigeria, a Master of Law degree in International Business Law from the London School of Economics and Political Science (LSE}, and a PhD in Law from Queen Mary University of London,
“With specialisation on privatisation and the legal reform of the Nigerian power sector.
“He is also a member of the Chartered Institute of Arbitrators,” she said.
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Business and Economy
Transcorp Ughelli Power Plant To Generate 900MW Of Electricity – Elumelu
Transcorp Consortium says Transcorp Ughelli Power Plant will soon begin to generate 900 Mega Watts (MW) of electricity.
The Group Chairman, Mr Tony Elumelu, made this known on Thursday in Abuja at the formal handover of the Afam Power Plc and Afam Three Fast Power Ltd. adsbygoogle || []).push({}); googlesyndication.com/pagead/js/adsbygoogle.js">
to Transcorp Power Consortium by Mr Alex Okoh, the Director-General, Bureau of Public Enterprises (BPE).Elumelu said that when the company took over the Ughelli Power Plant output was about 150MW and in just over a year it moved to 600MW.
He said that investment in electricity was very important and assured that in a short time, the output from Afam power plant would be increased as was done at Ughelli.
“We just want to make sure that in a short period of time, we are able to ramp up the output from the plant, we have done it before at Ughelli and we will do it again.
“I commend the state government for making sure the asset is kept in good state and we are going to work as partners with the state government, the community and the Federal Government.
“This is so that we can make sure that we realise access to electricity and improvement that this country needs for us to create jobs and fight poverty.
“This is the only way we can develop Nigeria,” he said.
Responding, Okoh said that in line with the requirements of the request for proposal and approval granted by the National Council on Privatisation (NCP) Transcorp paid 25 per cent cash of the bid amount on Thursday.
He said this was a condition precedent to the current activity of handing over.
“I must add that my emphasis on cash payment is to correct some misinformation in the media that purported that the Afam deal is a mere reconciliation of figures between the Federal Government and Transcorp.
“For the benefit of those who wish to know, this idea was never accepted by both the NCP and its several sub-committees.
“However, with the payment of the money by Transcorp to the treasury today, we hope this unfounded and concocted information being fed to the public would stop.”
Okoh said that sequel to the previous failed attempt to privatise Afam Power Plc and the approval granted by NCP for the recommencement of a new process, the BPE started a free, fair and transparent competitive process of the privatisation of Afam Power Plc and Afam Three Fast Power Ltd.
He said this culminated in Transcorp Power Consortium emerging as the preferred bidder with a combined offer of N105.3 billion.
He said that after a series of negotiations that were impacted by the COVID-19 pandemic, the Federal Government through BPE signed the Share Sale Purchase Agreement (SSPA) with Transcorp Power Consortium on Nov. 5.
Okoh said that though change does not come easy, the reform in the power sector was a necessary tool for laying a solid foundation for sustainable electricity supply, loss and cost reduction as well as service efficiency.
He added that the privatisation of the sector was a key component of the reform and was one of the pre-conditions for the start-up of a competitive electricity market in Nigeria.
“It is also a sensible avenue to reduce dependence on the treasury for support to an otherwise economically viable power sector and channel government resources to other ventures.”
He however urged Transcorp Consortium to use its proven capacity and pedigree as demonstrated with Transcorp Ughelli Power Plant and Transcorp Hotel, Abuja to transform Afam Power into an exemplary utility company of reference.
Source: NAN
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Energy and Power
800 Companies Jostle for Gas Flare Sites
About 800 companies have expressed interest for management of 176 gas flare sites in the country.
This was revealed to newsmen in Abuja on Thursday by Minister of State for Petroleum Resources, Dr Ibe Kachikwu. adsbygoogle || []).push({});
Kachikwu said that government in a frantic bid to stop gas flaring in the country by the year 2020, had received bids of 226 bidders that paid the stipulated fees out of the 800 companies that expressed interest in managing the sites.
“Over 800 companies have expressed interest to manage about 176 gas flare sites and out of the total companies, about 226 have paid the stipulated fees and their bids had been received,” he said.
“Premised on the foregoing, the policy position of His Excellency, President Muhammad Buhari, is that gas flaring is totally unacceptable.
“In this regard, the Federal Government of Nigeria, initiated a number of actions to reaffirm its commitment to ending the practice of gas flaring in our oil fields.
“Furthermore, in recognition that flared gas could be harnessed to stimulate economic growth, drive investments and provide jobs in oil producing communities and indeed for Nigerians through the utilisation of widely available innovative technologies.
“The Federal Executive Council in June 2016, approved the Nigerian Gas Flare Commercialisation Programme, NGFCP,” he said.
“We must stop gas flare and other hazards associated with gas flaring in Nigeria. We must also ensure that oil and gas production do not become harmful to our citizens,” he added.
“The policy objective is to move to market-led wholesale gas pricing without gas price regulation, except where there are natural monopolies,” Kachikwu noted.
The government was working hard, 10 years ahead of the United Nation’s UN deadline to stop gas flaring in the country by the year 2020.
(NAN)
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