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Grid Collapse: Power Minister Orders Immediate Implementation Of Committee’s Report

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…TCN Appeals For Understanding On Intermittent Disruptions As Grid Repair Begins

The Minister for Power, Chief Adebayo Adelabu has ordered the Transition Company of Nigeria (TCN) and all other relevant agencies of the ministry to begin the immediate implementation of the recommendations of the inter-agency committee, set up to address the incessant grid collapses in the power sector.

This is as the TCN appealed for understanding among Nigerians on the possibilities of intermittent disruptions as repair work begins on the grid.

The Minister’s matching order came as the transmission company reported that the national grid experienced a disturbance at approximately 11:29 am, on Thursday, November 7, 2024, which was caused by a sudden rise in frequency from 50.33Hz to 51.44Hz.

The Special Adviser to the Minister on Strategic Communications and Media, Hon. Bolaji Tunji quoted the Minister as saying that all relevant agencies in the ministry must brace up for the immediate implementation of the recommendations of the committee, which was submitted on Wednesday, November 6, 2024.

“The recommendations of the committee are far-reaching and will proffer lasting solutions to the incessant power grid collapses that we have embarrassingly witnessed in the country in the immediate and long term”, Bolaji said.

Meanwhile, the TCN has assured consumers that efforts were being intensified to ensure uninterrupted power supply to them.

A statement by Ndidi Mbah, General Manager, Public Affairs of TCN on Thursday said the agency was working to ensure the full and immediate implementation of the recommendations of the committee, to safe Nigeria from the incessant grid collapses.

“The Transmission Company of Nigeria (TCN) wishes to inform the public that the national grid experienced a disturbance at approximately 11:29 am this morning, caused by a sudden rise in frequency from 50.33Hz to 51.44Hz. Recovery efforts began immediately, and the Abuja Axis was restored within minutes. Recovery is still ongoing.

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“The frequency spike was caused by issues encountered at one of TCN’s substations, which had to be shut down to prevent further complications.

“In addition to this, TCN is actively engaged in significant repair work on several critical transmission lines and substations. This includes the 330kV transmission line along the Shiroro–Mando axis, major upgrades at the Jebba Transmission Substation, and the restoration of the second Ugwuaji–Apir 330kV transmission line.

“Furthermore, following the submission of the investigative report on the causes of previous grid collapses, TCN has begun addressing the identified weaknesses in the transmission system. Efforts are being made to close the gaps highlighted in the report, and to enhance the overall stability and resilience of the grid. These efforts include both technical upgrades and strategic interventions based on the committee’s recommendations”, Mba said, adding that “however, it is important to note that while these repairs and improvements are underway, some degree of instability in the system is likely to persist until all major works are completed. TCN acknowledges the impact of these disruptions and kindly asks for the understanding and patience of the public during this challenging period.

“The company remains committed to improving the reliability of electricity supply, recognising the vital role that stable power plays in Nigeria’s socio-economic development. TCN assures the public that all necessary measures are being taken to ensure the grid’s long-term stability, in line with the recommendations of the investigative committee, while also addressing infrastructure damage such as vandalized transmission lines”.

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Dangote Industries pledge to make Nigeria self-sufficient in cement, petroleum, others

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Dangote Industries Ltd. says it would ensure that Nigeria becomes self-sufficient in cement, agriculture, mining and petroleum production.

The Regional Sales Director, Southeast, Dangote Cement, Dr Abayomi Shittu stated this in an interview with the News Agency of Nigeria (NAN) in Enugu on Sunday at the ongoing 36th Enugu International Trade Fair.

“Dangote Industries Ltd. is into cement, sugar, salt, poly products, real estate, agriculture, logistics, telecommunications, steel, oil, and gas among other businesses.

“Three of its subsidiaries Dangote Cement Plc., Dangote Sugar Refinery Plc. and Dangote Salt, trading under the name of NASCON Allied Industries Plc. are listed on the Nigerian Stock Exchange.

“Our continuous efforts to innovate, create value and invest in Nigeria are borne out of our firm belief in the vast economic potential of Nigeria.

“Dangote Sugar Refinery, through its out-grower scheme, has provided jobs for thousands of farmers in its host communities.

“The coming of Dangote Fertiliser has to a great extent helped to change the face of agriculture in Nigeria while the Dangote Petroleum Refinery, will drive the development of ancillary industries.

“We recruit graduates of engineering and other technology-based courses and train them in many aspects of industrial operations,’’ Shittu said.

He noted that trade fairs organised by the Enugu Chamber of Commerce, Industries, Mines and Agriculture (ECCIMA) were unique because Enugu State had about the largest concentration of industries in the Southeast and South-South geopolitical zones.

He added that ECCIMA’s trade fairs remained avenues for industries to connect with customers in the Southeast and in the adjoining zones. (NAN)

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Nigeria’s Public Debt Rises 48% To N144.67trn In 2024

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Nigeria’s public debt rose by 48.5 per cent year-on-year (YoY) to N144.67 trillion ($94.23 billion) in 2024 from N97.34 trillion ($108.23 billion) in 2023.

The Debt Management Office (DMO) disclosed this in its latest public debt profile report.
The debt stock consists of external debt of N70.29 trillion ($45.78 billion) serviced with $4.66 million and domestic debt of N74.38 trillion ($48.44 billion).
The report showed that the country’s external debt increased by 83.89 per cent YoY from N38.22 trillion ($42.5 billion) in 2023.

Domestic debt also grew by 25.7 per cent YoY from N59.12 trillion ($65.73 billion) in 2023.
The report further indicated that the Federal Government’s domestic debt component rose by 32 per cent YoY to N70.41 trillion from N53.26 trillion in 2023.
But the domestic debt of states and the Federal Capital Territory declined YoY by 32 per cent to N3.97 trillion in 2024 from N5.86 trillion in 2023.

The rise in public debt can be attributed to fluctuating trends in exchange rates amidst changes in global economic conditions.

The sharp increase, particularly in external debt, highlights the nation’s vulnerability to exchange rate volatility and changes in global economic conditions.
With the continued depreciation of the naira, the cost of servicing foreign debt could escalate, adding pressure on the country’s financial resources.

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NNPCL Names New Senior Management Team

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The Nigerian National Petroleum Company Limited (NNPCL) has announced the appointment of a new eight -man Senior Management Team.

The appointment followed the recent announcement followed the appointment of the Group Chief Executive Officer (GCEO) and Board of Directors.

Disclosing this in a statement on Friday, NNPCL Chief Corporate Communications Officer, Olufemi Soneye, said the appointments all take immediate effect.

“Following the appointment of the Group Chief Executive Officer and Board of Directors, the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of a new 8-man Senior Management Team on Friday,” he stated.

“The team which will be headed by the GCEO, Mr Bashir Bayo Ojulari, has Rowland Ewubare as Group Chief Operating Officer; Adedapo Segun as Group Chief Financial Officer; and Olalekan Ogunleye as Executive Vice President Gas, Power & New Energy.

“Other members of the team are: Udy Ntia as Executive Vice President Upstream; Mumuni Dangazau as Executive Vice President Downstream; Sophia Mbakwe as Executive Vice President Business Services; and Adesua Dozie, as Company Secretary & Chief Legal Officer. All appointments are with immediate effect.”

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