Connect with us

News

Reps Smmon TCN MD Over $33m Monthly Payment To GenCo Amid Irregular Power Supply

Published

on

The House of Representatives Committee on Finance has summoned the Managing Director/Chief Executive Officer of the Transmission Company of Nigeria (TCN), Sule Abdulaziz over a monthly payment of $33 million to the Generation Company of Nigeria amid epileptic power supply.

The summon was issued on Monday but details of the investigative hearing emerged on Tuesday, where the panel expressed concerns that a whopping sum of $33 million was being paid monthly without commensurate power generation.

Advertisement

At Monday’s sitting, the Executive Director, Transmission Service Provider, TCN, Victor Adewunmi; Market Operator, TCN, Edmund Eje; Director, Agreements, Benedict Ogbu; and General Manager, Corporate Planning and Strategy were grilled by the panel and could not give details of how the management arrived at the amount. A development, that a member of the panel, Hon. Taiwo Oluga insisted on the appearance of the TCN Chief Executive to clarify issues.

READ ALSO: GenCos, DisCos Owe Banks N836bn Amid Crisis – Report

The TCN is currently paying the sum of $33 million to a power Generation Company, Azura Power West Africa Limited whether it supplies power or not.

Advertisement

Hon. Oluga, said, “The representative of the chief executive, I will want to put it to you that with this document, you are confusing the House.

“If it is your document and we are arguing on it, whether it is megawatts or it is in kilowatts, an agreement has been signed on behalf of Nigerians in megawatts. Now, you are presenting documents to the House in kilowatts/hour.

“So, Mr Chairman, I will want to say that maybe these documents should be re-presented while we expect the chief executive to come and explain to Nigerians why $33m will be paid (to Azura) every month, yet we are not getting results – we are not getting power – and that is the root of all the problems in Nigeria as of today.”

Advertisement

READ ALSO: Nigerians To Enjoy Improved Power Supply From July – NERC

The lawmaker expressed disappointment that government could go into an agreement on behalf of Nigerians without the power supply, adding that such is not done anywhere in the world.

Advertisement

News

Ibom Air Passenger Emmason: Why Kwam1 Was Not Charged In Court — NCAA

Published

on

The Nigerian Civil Aviation Authority, NCAA, has clarified that Nigerian Fuji musician Wasiu Ayinde, known as K1 de Ultimate (Kwam 1), was not charged to court by ValueJet, unlike Ibom Air’s action against its passenger, Comfort Emmanson, over alleged unruly behaviour.

The spokesperson of the NCAA, Michael Achimugu, disclosed this in an interview with DAILY POST on Monday.

Advertisement

His clarification comes as Emmanson, on Monday, was charged in court and remanded in prison, a development that has attracted mixed reactions from Nigerians.

Peter Obi, the presidential candidate of the Labour Party in 2023, described Emmanson’s treatment as “double standards.”

READ ALSO:NCAA Seeks K1 De Ultimate’s Arrest, Petitions AGF, IG

Advertisement

However, Achimugu noted that the NCAA did not sue Kwam 1, nor did it sue Emmanson.

According to NCAA, the airline exercised its right to sue the alleged unruly passenger in court.

There’s nothing to put together here. The Ibom Air passenger was arrested and charged to court by the airline.

Advertisement

“The airline has exercised its right to sue the unruly passenger in court. So long as that case is in court, the NCAA has no role to play in it. Okay.

READ ALSO:NIMC Announces Upgrade Of NIN Enrolment Portal For Nigerians In Diaspora

But in the Kwam 1 case, since the airline did not sue or take the passenger to court, the NCAA, which also does not have prosecutorial powers, decided to do the right thing by criminally referring the case to the Attorney General and Inspector General of Police.

Advertisement

“So if ValueJet had arrested and taken Kwamwan to court that day, the NCAA would not have been involved to the extent that it became involved.

READ ALSO:NCAA Stops Fuji Star K1 De Ultimate From Flying For Six Months

Because they didn’t do that, the NCAA did what it had to do. In this case, the airline, since the incident happened, immediately arrested the lady and sued her in court. So that’s not the NCAA’s fault.

Advertisement

“We did not sue Kwam 1; we did not sue this lady,” he told DAILY POST.

The NCAA petitioned Kwam 1 to the Attorney General of the Federation and the Inspector General of Police for prosecution over an alleged misconduct incident at a Nigerian airport.

Advertisement
Continue Reading

News

Jonathan, Obi Can’t Match APC’s Strength For 2027 – Mustapha Salihu

Published

on

The National Vice Chairman (North-East) of the All Progressives Congress (APC), Comrade Mustapha Salihu, has dismissed the chances of former President Goodluck Jonathan and former Labour Party presidential candidate Peter Obi emerging as strong contenders for the 2027 elections under the Peoples Democratic Party (PDP).

Speaking in an interview on Arise News on Sunday, Salihu described the PDP as technically non-existent and argued that neither Jonathan nor Obi possessed the political capacity to challenge the APC’s structure and readiness.

Advertisement

“Jonathan is a gentleman and a patriotic Nigerian, but when it comes to performance, the difference between his six years and President Tinubu’s two years is clear,” Salihu said.

READ ALSO:2027: Jonathan May Get Automatic Ticket, If… – PDP

We inherited what seemed like insurmountable security and economic challenges, yet we have stabilised critical sectors, taken courageous decisions, and achieved visible results. Jonathan does not have the political acumen to take the tough decisions required at this time.”

Advertisement

Salihu claimed that those urging Jonathan to return to the PDP were driven by personal interests rather than concern for Nigeria.

“Some of them were part of his government and want to rule the country by proxy. Nigerians will not subscribe to that,” he said, adding that the deep divisions within the PDP make a Jonathan candidacy unrealistic.

On Obi, Salihu criticised his post-2023 political strategy, saying the former governor lost the momentum he had after the last election.

Advertisement

READ ALSO:Peter Obi Won’t Be Voted Even If He Swears In shrine, Only Jonathan Can Defeat Tinubu – Adeyanju

Obi had a near revolution in 2023 with massive youth support, but after losing, he abandoned his governorship candidates. If he had supported them, he could have had at least seven governors today as a launchpad for the future. Instead, he made alliances that did not benefit him, and now he lacks the structure to contest and win a presidential election in Nigeria,” he stated.

The APC chieftain insisted the ruling party was fully prepared for 2027.

Advertisement

We are not panicking or shaking. We have the structure, leadership ability, achievements, and organisational capacity to prosecute an election any day, any time. No party in Nigeria today can match the APC,” he added.

Advertisement
Continue Reading

News

Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US

Published

on

India Refineries have abandoned Russian crude for Nigerian crude, while domestic refiner Dangote Refinery relies heavily on West Texas Intermediate crude from the United States of America.

This followed a recent sanction threat by US president Donald Trump on India over continued patronage of Russian crude.

Advertisement

According to Reuters, industry sources said that Indian Oil Corporation recently bought one million barrels of Nigeria’s Agbami crude for September 2025 delivery in a tender awarded to global trader Trafigura.

Also included are one million barrels of Angola Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian oil, according to Reuters.

READ ALSO:‘My Eyes Dey Your Body’: Drama As Portable Professes Love For Regina Daniels

Advertisement

The report noted that the purchase is part of a broader sourcing spree that has seen Indian refiners secure millions of barrels from non-Russian sources post July 2025.

Meanwhile, Indian refiners secured purchases of Nigerian crude grades; the $20bn Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, is relying on around 60 percent on US and other imoorts to feed its processing units.

Data showed that the refinery imported an average of 10 million barrels in July 2025, saying it was increasingly relying on the US for its feedstock despite the naira-for-crude deal with the Federal Government, which kicked off in October last year.

Advertisement

According to Reuters, the Indian Oil Corp and Bharat Petroleum have bought a million barrels of non-Russian crude billed for delivery in September and October after the US pressured India to halt purchases from Russia.

READ ALSO:

Indian state refiners had been largely absent from the Nigerian crude market spotlight since 2022; they have in the past concentrated on Russian crude amid the Russian-Ukrainian war. However, the Indian refiners paused Russian purchases in late July 2025 after pressure from US President Donald Trump.

Advertisement

On the part of Dangote Refinery, data from commodities analytics firm Kpler showed that in July, US barrels accounted for about 60 percent of Dangote’s 590,000 barrels per day of crude intake, with Nigerian grades making up the remaining 40 percent.

In July, the Dangote refinery’s crude imports surged to a record 590 kbd—driven largely by US barrels overtaking Nigerian supply for the first time—amid ongoing domestic sourcing challenges, Kpler reports.

“While WTI has held a significant share in Dangote’s import slate since March, this is the first time US crude has overtaken Nigerian supply—a shift driven by several factors,” Kpler stated.

Advertisement

 

Advertisement
Continue Reading

Trending