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Anniversary-Experts hail Tinubu reforms in the power sector

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Some Experts in the power sector have commended President Bola Tinubu on some of the ongoing reforms in the sector.

The experts, who spoke with the News Agency of Nigeria (NAN) in Abuja on Sunday, said that the Tinubu-led administration had brought a lot of reforms to the sector.

However, he said that there was still roomfor improvement.

Mr Kunle Olubiyo, President, Nigeria Consumer Protection Network (NCPN), said that from May 2023 to date, there had been a lot of reforms by the present administration in the power sector.

Olubiyo said that given power to states to operate their own electricity sector was a good development and a welcome idea.

“Before now,  it was only the Federal Government that has the power to generate, transmit and distribute power.

“But now due to the fact, that President Tinubu assented to Electricity Act, 2023, states now  have the power to establish their own electricity agencies.

“This further speaks to issues that have been raised concerning true federalism and the evolution of power because we are a federating state. This is a major milestone and game changer, ‘’ he said

According to him, the recent deregulating of metering process by the  Nigerian Electricity Regulatory Commission (NERC) was the right step in the right direction.

“Most of the problem we have been having had to do with metering, there have been lot of the leakages or gaps in the process of acquiring meters.

“By deregulating the metering sub sector, it is going to help and improve the issues of liquidity challenges in the sector and aggregate technical collection and commercial losses.

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“Because if you cannot collect revenue or there are leakages, no matter what we are doing, it will be a wasted effort and this will discourage investors from investing in the sector , ‘’ he said.

He also said that the recent unbundling of the Transmission Company of Nigeria (TCN) by government and granting licence for the establishment of the Nigerian Independent System Operator (NISO) was a welcome development.

“The president has demonstrated some commitment in doing that.

”So we are looking at it that in the second year of the Tinubu’s administration, government as much as possible should fashion out a model that would make sure that TCN operates in an unbundled form in a commercially viable form.

“Because government cannot continue to bear the burden of a supposedly privatised power sector, ‘’ he said.

Olubiyo, however, said that there are still challenges in the sector.

According to him, government should look at the area of multiple taxation in  Tinubu’s second year in office as the tax burden is quite strangulating for small businesses and an average man on the street.

He said that taxes that were supposed to be within the jurisdiction of the state were being collected by the Federal Inland Revenue Service (FIRS) and this overlapping or encroaching in jurisdictions of the state.

He said: ’’ +everywhere, you pay taxes for coughing,  you pay taxes for sneezing, you pay taxes for breathing and taxation undermines growth and development.

“Government should look at those businesses that have multiplier effect on job creation and productive and create tax holiday.

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On his part, Mr Princewill Okorie, the Executive Director,  Electricity Consumer Protection Advocacy Centre, also commended the Federal Government   on the ongoing reforms they are putting in place to move the sector forward.

’’I will commend the Federal Government on the efforts they are putting in place to reform the sector, especially the Minister of Power, Mr Adebayo Adelabu.

“I was  privileged to participate in the African Energy Market Place Forum held recently.

“And I saw the effort the minister is putting in place to develop strategic implementation plan in other to meet up with the provisions of the Electricity Act 2023 .

“So it is a commendable effort to see that they develop policies that will drive the sector as a follow up action to the Electricity Act that was signed into law.”

Okorie, however, said that there were areas that government was supposed to look into as it affects consumers.

According to him, the increase in tariff at this time that fuel has been increased is not a welcome idea Nigerians are suffering.

“As the executive director of electricity consumer protection advocacy centre, I am concerned about consumers’ interest in the sector.

“ But I am glad that the minister made a statement based on my suggestion that he needs to set up consumer protection departments under his ministry.

“ Consumers are the ones paying this money, so there is the need to have that unit,” he said. (NAN)

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Tinubu approves N20bn take-off fund for NASRDA’s project

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The National Space Research and Development Agency (NASRDA) is set to commence the implementation of its space regulation and licensing mandate with N20 billion take-off fund approved by President Bola Tinubu.

The Director-General of NASRDA, Dr Matthew Adepoju, said this on Thursday in an interview with the News Agency of Nigeria (NAN) in Abuja.

Adepoju said the regulatory function of the agency as encapsulated in NASDRA Act (2010) had remained unfulfilled since its establishment in 1999.

He spoke against the background of NASRDA stakeholders’ workshop on space regulation scheduled for April 8.

He said on assumption of office he raised a memo to President Bola Tinubu on the need to enforce the regulatory functions of NASDRA.

According to him, this is in line with the provisions of Section 6 and 9 of the laws establishing it, adding that Tinubu eventually approved the take-off fund.

“When I raised that memo stating that our space can no longer be unregulated, Mr President graciously approved the take-off fund of N20 billion few months ago.

“This is to enable us to commence the space regulation and spectrum management in Nigeria.

“Although times and lots of activities happen that have security implications but if we don’t take charge of our space sector, it will continue to be misused,’’ Adepoju said.

Adepoju said the agency was yet to access the N20 billion, adding that release of funds was always subject to its availability.

“Within the framework of what is possible for us to do now, we’ve set up the platform and we are commencing our regulatory and licensing functions,” he told NAN.

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He explained that the space sector had three segments, the upstream, midstream and downstream.

“We have the upstream, which is deep space, the midstream, which is in between the space objects, such as satellites and the planet Earth.

“We have the downstream, which has to do with ground stations, activities and people who are utilising space products and services.
“In between these three sectors, there are activities that must be regulated otherwise Nigerians will be short-changed.

“People have to be licensed and issued guidelines, the spectrum within Nigeria has to be monitored and the agency has been granted this power since 2010 and this has lots of benefits,’’ he said.

Adepoju said the platform for the licensing was ready and open to both public and private sector operators in the space arena.

The licensing, he said, was available for people using and providing space products and services.

He emphasised the need for strict oversight of satellite image providers, geographic information system operators, satellite-based telecommunication and broadcasting services, among others.

He also said that if unregulated, geographical data intelligence could be exploited by non-state actors for illicit activities.

The Director-General further told NAN that the initiative would enhance national security, economic diversification and local content development.

He said it would also generate revenue from sub-sectors such as oil and gas, shipping and telecommunications relied on space products for their operations. (NAN)

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Myanmar earthquake: Rescue efforts ongoing amidst increasing fatalities

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The death toll from a 7.9-magnitude earthquake in Myanmar has risen to 3,085, with 4,715 people injured and 341 reported missing.

This is according to the Information Team of the State Administration Council on Thursday.

Chinese rescuers are continuing search and rescue operations in hard-hit Mandalay, central Myanmar, following the deadly earthquake last week, and have so far rescued nine survivors from the rubble.

On Thursday afternoon, the second batch of emergency humanitarian aid supplies dispatched by the Chinese government arrived in Myanmar.

The second batch of aid supplies include 800 tents, 2,000 blankets, 3,000 boxes of biscuits, 2,000 boxes of mineral water and other urgently needed supplies.

The first batch of emergency humanitarian aid supplies dispatched by the Chinese government for earthquake disaster relief arrived in Myanmar on March 31. (Xinhua/NAN)

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China threatens retaliation in response to new US tariffs

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Beijing on Thursday threatened countermeasures after U.S. President Donald Trump announced new tariffs on Chinese goods, further escalating trade tensions between the world’s two largest economies.

The U.S. has already imposed 20 per cent tariffs on Chinese imports, prompting retaliation from Beijing.

The latest round, which Trump had announced on Wednesday, adds a 34 per cent tariff hike, raising total duties on many Chinese products to over 50 per cent.

China’s Ministry of Commerce said that the tariffs violated international trade rules and were based on subjective and unilateral assessments by the U.S., calling them a typical act of bullying.

The ministry urged Washington to remove the measures and resolve disputes through dialogue, or it would take countermeasures to protect its rights and interests.

Trump on Wednesday announced new blanket tariffs of 10 per cent on most U.S. imports, with higher penalties based on trade deficits. (dpa/NAN)

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