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ELECTRICITY: As Power Sector Debt Rises Amidst Low Electricity Supply NERC Begs FG To Intervene

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The Nigerian Electricity Regulatory Commission (NERC) said it has communicated the need for the Federal Government to intervene over the longstanding trend of non-payment and debts by international customers, and others to the power sector.

This was contained in the 2023 fourth-quarter report, the latest, obtained by thecolumn.ng

 

According to the report, as of the quarter under review, electricity Distribution Companies also known as the DisCos, and four international customers serviced by the Market Operator, did not remit a total of ₦97.5bn to the power sector in the fourth quarter of 2023.

 

Statistics obtained from the Nigerian Electricity Regulatory Commission’s 2023 fourth quarter report, said the 11 DisCos held unto ₦81bn, while four international customers (Paras SBEE, Transcorp SBEE, Mainstream NIGELEC and Odu-Pani-CEET ), did not remit $12m (₦16.5 when converted using ₦1,367/$1 rate) invoice issued to them by the MO for services rendered in 2023/Q4.

 

This puts total debt by the DisCos and international customers at ₦97.5bn for the period under review.

A breakdown of the explanation of the debt by the DisCos, showed that in 2023/Q4, the cumulative upstream invoice payable by DisCos was approximately ₦270bn, consisting of ₦223bn for generation costs from the Nigerian Bulk Electricity Trading (NBET) company, and about ₦47bn for transmission and administrative services by the MO.

 

 

However, out of this amount, the DisCos collectively remitted a total sum of ₦188.7bn (₦156bn for NBET and ₦32.5bn for MO), with an outstanding balance of about ₦81bn. This translates to a remittance performance of about 70 per cent in 2023/Q4 compared to the 76 per cent (remittance of ₦158bn out of the total invoice of ₦208.7bn) recorded in 2023/Q3.

 

 

The total revenue collected by all DisCos in 2023/Q4 was ₦294.9bn out of the ₦399.7bn that was billed to customers. This translates to a collection efficiency of 74 per cent. In comparison, the total revenue collected by all DisCos in 2023/Q3 was ₦268bn, out of the ₦349bn billed to customers which translated to a 76 per cent collection efficiency. The 74 per cent collection efficiency recorded in 2023/Q4 is –2.77per cent lower than the efficiency recorded in 2023/Q3 (76 per cent).

 

 

The report further detailed that none of the four international customers being supplied by GenCos in the Nigerian Electricity Supply Industry (NESI), made payment against the cumulative invoice of $12.02m issued by the MO for services rendered in 2023/Q4.

The report, however, noted that some international customers made payments during 2023/Q4 for outstanding MO invoices from previous quarters.

 

 

It also said that there were no remittances by bilateral customers against the cumulative invoice of ₦1.9m issued to them by the MO for services rendered in 2023/Q4.

 

The recurrent delay of remittances by international and bilateral customers, NERC said should prompt the MO “to invoke the provision of the market rules to curtail the payment indiscipline being exhibited by the various market participants”.

 

The special customer (Ajaokuta Steel Co. Ltd and the host community) did not also make any payment towards the ₦0.72bn (NBET) and ₦0.07bn (MO) invoices received in 2023/Q4.

“This continues a longstanding trend of non-payment by this customer and the Commission has communicated the need for intervention on this issue to the relevant FGN ministries,” NERC added.

 

 

The power sector debt continues to rise, as the country battles inadequate power supply as a result of low generation.

The GenCos currently generate about 5000 megawatts (MW) despite the grid having a combined capacity of about 12,000 MW.

 

 

Experts have said Nigeria’s over 200 million populace requires at least 30, 000MW to attain sufficiency.

Despite even the meagre 5000MW power generation, the Transmission Company of Nigeria (TCN), has struggled to transmit same to the DisCos for onward distribution to end users.

Business

Chris Kolade Leadership Award Loading As KMEN Sets for MegaSummit 2026

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Kingdom Men Global Network aka KMEN has formally announced the programmes of the 13th edition of its flagship annual gathering for men, Mega Summit.

 

This year’s event will open on Thursday May 14 and end on Sunday May 17 with an all-men musical concert.

The 2026 edition of Mega Summit which will hold at the Presken Hotels on Alade Avenue opposite Airport Hotel, Ikeja Lagos has as theme: Legacy…Faith. Family. Community. And for the first time Mega Summit will host an award on the opening day in memory of foremost Nigerian diplomat and integrity personified and pioneer Chairman of the Board of Trustee of KMEN, late Dr Christopher Kolade who died last year at the age of 92.

The KMEN-Christopher Kolade – Men in Leadership Award for Courageous Manhood will be heralded by the Men in Leadership Summit (MiLEADS) with the sub-theme – Building a Culture of Leadership with Integrity. And will have as speakers Archbishop John Osa-Oni of Vineyard Christian Ministries., Pastor Tunde Bakare of The Citadel Global Community Church, and renowned Pharmacist, entrepreneur and politician Mazi Sam Ohuabunwa, OFR.

 

Pastor Tunde Bakare

Day two will feature another special session for Men in Church Leadership (MiCLEADS) with the sub-theme: Leaving a Legacy of Faith/Discipling for the Next Generation, and will have as speakers Bishop Sunday Onadipe, Bishop, Methodist Church of Nigeria, Diocese of Badagry, Apostle Eyinnaya Okwuonu, former Chairman of Pentecostal Fellowship of Nigeria (PFN), Lagos Chapter., Pastor Dominion Roberts from Liberia, and Rev Fr Matthew Ogunyase of the Catholic Mission, Lagos.

While day three will open with a Special Town Hall discussion on Family with the sub-theme – The Father’s Role in Shaping Legacy and is the only mixed gender panel for Mega Summit 2026 featuring foremost life change coach, Mrs. Yemisi Lagunju and Rev David Abraham, who is the managing director of Managing Business for Christ (MBFC).

On Saturday is a Special Town Hall on Resisting an Emerging Legacy of Addictions. This segment will feature a presentation by Dr Dokun Adedeji on the ravage of Drug Addictions, alongside Abiose Akolade Ladipo, Co-Founder of GamblePause, a Lagos-based NGO in the fight against Gambling Addictions.

Later in the afternoon on Saturday is a second Town Hall session on Business and Economy with the sub-theme: Building Sustainable/Generational Businesses, and will feature notable panelists like Rev Professor Biodun Adedipe Founder of BA and Associates, and Rev Dr Abba Peter, Managing Director of Best Practices Limited, among others.Other Town Hall segments at Mega Summit 2026 include that on Politics/Governance with the sub-theme: Swimming Against the Tide – National Transformation through Service, and another Town Hall on Media featuring Mr. Mustapha Isah Osikhekha, former President of the Nigerian Guild of Editors (NGE), Omoba Deji Irawo and others as they navigate best way to Reclaim the Narrative: Legacy in Digital Spaces.

An extra-ordinary edition, the 13th edition of Mega Summit will also have segments designed to equip leaders in men’s ministry through the instrument of KMEN’s School of Men’s Ministry/ISI Training. Each day of Mega Summit 2026 is divided into three segments – morning starting at 9 am, afternoon session and evening climaxing with an impartation service.KMEN is an uncompromisingly Bible-based, independent ministry to men. Established nearly two decades ago, the ministry’s objective is to assist men, irrespective of their church affiliations, in their Christian Walk, that they may become better sons, brothers, husbands, fathers and leaders.

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MU Plans Casemiro’s £80m Replacement

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Manchester United are ready to spend in the region of £150million to sign three central midfielders this summer if there is enough room in the transfer budget.

 

Daily Mail Sport understands that United have earmarked around £80m for a marquee signing to replace Casemiro, who will leave at the end of his contract despite hopes among some fans that he could extend his stay at Old Trafford.

United know their No 1 target Elliot Anderson is likely to cost in excess of £100m, and Manchester City are in pole position to sign the Nottingham Forest star.

Brighton’s Carlos Baleba, Adam Wharton of Crystal Palace, Newcastle midfielder Sandro Tonali and Real Madrid’s Aurelien Tchouameni are other names in the frame, although United’s interest in Tonali has cooled slightly and Tchouameni wants to sign a new contract at the Bernabeu.

United are prepared to spend around £40m on another midfielder to replace Manuel Ugarte if they can get a reasonable price for the Uruguayan who cost £50m from Paris Saint-Germain two years ago.

West Ham’s Mateus Fernandes has emerged as a player of interest, and Bournemouth duo Alex Scott and Tyler Adams would also fall into that category.

Despite tying Kobbie Mainoo to a new long-term contract, United could strengthen their squad by signing a third midfielder for about £20m. It’s understood that scouts have been monitoring the progress of Southampton’s Shea Charles.

However, it will depend on how much money is available with United expected to bring in a left-sided forward, left-back, central defender and a reserve goalkeeper in the summer.

The club will have considerably more to spend after confirming their return to the Champions League by beating Liverpool on Sunday, which is worth in excess of £100m.

United also hope to bank significant transfer fees for Rasmus Hojlund, Marcus Rashford, Andre Onana, Ugarte and, possibly, Joshua Zirkzee while creating additional space on the wage bill by offloading Casemiro, Jadon Sancho, Tyrell Malacia and Altay Bayindir.

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International News

Doku insists On League Victory Despite Everton Draw With Man City

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Jeremy Doku insisted Manchester “will keep on fighting” in the Premier League title race despite their “painful” draw with Everton on Monday.

 

City drew 3-3 with the Toffees at Hill Dickinson Stadium, with Doku scoring a 97th-minute equaliser, having also scored the opening goal.

Doku’s equaliser (96:49) is City’s third-latest goal on record (since 2006-07) in a Premier League game after John Stones’ strike against Arsenal in September 2024 (97:14) and Gabriel Jesus’ goal against Everton in February 2019 (96:52).

Doku has had a hand in six goals across his last five games for City in all competitions (four goals, two assists), as many as in his previous 22 games combined (one goal, five assists).

The Belgian also created the most chances in the match against Everton (four), completed the most dribbles (5/7) and won the most duels (14/19).

City avoided defeat in a Premier League game despite trailing by 2+ goals as late as the 82nd minute for the first time since March 2012 against Sunderland (3-3).

They went on to win the league title in 2011-12, and Doku believes City can still beat Arsenal to the trophy this season.

“First half, we played well and created a lot of chances. We know if we don’t score those chances, it is going to get difficult at the end,” said Doku.

“Obviously, they are at their own stadium, they create chances, and they are dangerous, and they scored two goals, but I think we gave them the game.

“Good that we came back because one point is not bad in games like this.

“We will see. It feels painful now. There is still a lot of games to go. We lost two points, but we know that one point can be important at the end.

“We will keep on fighting. We owe it to ourselves and to our fans.”

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