LAGOS COMMISSIONER CALLS FOR REVIEW OF POWER GENERATION, DISTRIBUTION LAW - AfrobadooTV
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LAGOS COMMISSIONER CALLS FOR REVIEW OF POWER GENERATION, DISTRIBUTION LAW

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As 3rd Real Estate Market Place Conference and Exhibitions ends in Lagos

The Lagos State Government has called for the urgent review of Nigeria’s power generation and distribution law under the purview of the Federal Government based in view of the huge amount spent on diesel daily by industries especially manufacturing sector in the State.

Lagos State Commissioner for Energy, Engr. Olalere Odusote made this call on Wednesday as part of his submission at the end of the 3rd Real Estate Market Place Conference and Exhibitions held in Victoria Island.

Speaking on Sustainable Energy Solutions in the Real Estate, the Commissioner said that personal energy generated by individuals, corporate organisations including real estate practitioners usually come with huge financial burden in addition to the environmental pollution that comes with it.

According to him, the country’s Real Estate sector is still begging for huge investment in the area of power to make the sector more viable and attractive to potential investors.

He explained that this became necessary as most private individuals and businesses in Lagos utilised diesel powered generators rather than electricity from the national grid.

According to him, the two distribution companies in Lagos State – Eko Disco and Ikeja Electric – established nine years ago, sell about 800 to 900 megawatts initially and have only improved to 800 to 1,000 megawatts nine years after.

“Nothing has changed in the national grid sector nine years after. However, Lagos State within a spate of nine years had grown from having about 8,000 megawatts of installed diesel capacity to about 23,000 megawatts.

“The diesel market of the off-grid market has grown by about 300 per cent but the grid market has not grown at all or just about one to two per cent,” he said.

He added that the state injected almost 1,000 transformers into the grid to improve electricity supply to its residents, but without the desired result.

Odusote said a lot of the energy utilised in Lagos came from diesel generators, and that because of the high population of the city, the emission from that energy source had become unsustainable.

The Commissioner explained that Lagos had been projected to be city with the largest population in the world in 50 years, therefore energy for the housing infrastructure needed for the population must be put into consideration.

Odusote said that was why the state government came up with the Lagos Electricity sector policy, with the aim of providing universal access to electricity for all residents of the state.

He stated that the draft of the Lagos electricity law had been completed and was before the state’s House of Assembly for consideration.

Odusote explained that the bill, when implemented, would take regulation of electricity from the centre and domicile it with the Lagos regulatory agency.

“The Nigerian constitution domiciles the responsibility of regulation and distribution of electricity with the state government but when the law was passed in 2002, many states were not ready for the responsibility.

“Many housing estates in the state run on diesel generators because they are unable to benefit from the grid, yet they cannot share from the excess capacity they currently have because the Federal Government does not permit it.

“Lagos is now ready, willing and in the process of passing the law. It means we will be able to locally determine our faith when it comes to electricity,” he said.

According to him, the Lagos Regulatory Agency will work with the residents and the state government to determine the need of the electricity market and make laws that will enable investors to invest in identified gaps.

The commissioner said the state was working with the Federal Government to ensure its laws were reviewed and the new law passed at the National Assembly aligned with the state’s law and in line with the development of the sector.

Odusote explained that the state was working with the built environment and other private sector operators to create a framework that would ensure that by 2036, everybody that wanted electricity in Lagos got it.

On her part, the Special Adviser to the Governor on Housing, Mrs Toke Benson Awoyinka promised that LASRERA will sustain the use of sanctions to rid the industry of fraudulent Real Estate Agents.

She added that the state government was determined to ensure sanity was restored to its real estate environment.

Adeoti Sobowale
Deputy Director Public Affairs LASRERA
8th December, 2022.

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Pyrates disown viral video on 2023 presidential candidate

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The National Association of Seadogs, Pyrates Confraternity has distanced itself from lyrics of a viral video targeting one of the presidential candidates.

Aside from disowning the video, the group stated that those who canvass it do not represent the opinion or position of the Pyrates Confraternity and therefore “dissociate ourselves from any insinuations or misrepresentation, the video conveys.”

The NAS Capoon, Mr Abiola Owoaje in a press statement: Setting The Records Straight- Official Position Not in authorised Videos, noted that as a responsible organisation, it is mindful of the need to be circumspect by advocating for good governance without heating the polity.

According to Owoaje, Pyrates Confraternity have provided direct intervention and thought leadership on community and national issues using direct action or press releases with 100 of such attributed to nominated and authorised representatives.

Owoaje, while insisting that any suggestion that the video represents the outcome of a considered reflected “political opinion of the organisation is mischievous, misleading and out rightly false,” reiterated that “since our founding 70 years ago, we have never been politically affiliated or involved in electioneering.”

“We have never had a preferred candidate in any political election. We are not supporting or against any candidate in this 2023 election. Some of our members belong to different political parties and can support any candidate unconditionally in the knowledge that political activities at the level of partisanship are not allowed within our corporate entity.

“For the enthronement of democracy and democratic values of the freedom of political choice in Nigeria, our organisation and members opposed the military dictatorship. We joined hands with other civil societies to end military rule in Nigeria. Like several Nigerians, many of our members paid the ultimate price for the democracy we enjoy today. We fought for democratic principles as symbolised by June 12. Many of us were hounded into exile, imprisoned, tortured, businesses and employment destroyed, and our families terrorised by the military dictatorship for speaking truth to power.

“As an organisation, we cherish these democratic principles and reject any action of persons who will use songs or videos to tarnish the non-political stance of the National Association of Seadogs (Pyrates Confraternity) inadvertently or wilfully. We denounce the political clickbait merchants desperately pursuing social media and economic mileage through deliberate misinformation about our organisation. They do not represent our values as ensconced in our ideals.”

Owoaje explained that the organisation’s desire is for the Independent National Electoral Commission (INEC) supported by security agencies to conduct free, fair and transparent elections and has launched a campaign through https://www.ourvotescount.org.ng for that purpose.

“Finally, we reaffirm that all official positions of the National Association of Seadogs are hosted on our website, and social media handles. Our formal opinions are not disseminated on videos that have no official origin or organisational authorisation.”

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Security: Oluwo Meets Security Operatives, Fulanis, Bororo, Others

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As part of his commitment to checkmate insecurity in Iwoland, the Paramount Ruler of Iwoland, HIM Oba Abdulrosheed Adewale Akanbi,today, met with security operatives, the Fulanis and Bororo in his palace to forestall further case of kidnapping in the territory.

The security men comprising the police, civil defense and Amotekun corps urged the heads of Fulanis and Bororo to assist them by giving adequate information to trail criminal infiltration mingling with them in the bush.

Oluwo described security as the life wire of every functioning community as he called for collaborative effort to curtail kidnapping case in Iwoland.

The area commander, ACP Omololu further enjoined individuals in the society to be security conscious and assist the security by providing security tips to aid effective policing. ACP Omololu disclosed his plan to convene an elaborate security stakeholders meeting.

The president of Iwo Board of Trustees (IBOT), Prof. Lai Olurode, pledged unalloyed support for optimum performance of the security agencies.

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CBN, NIBSS SET TO TRANSFORM THE AFRICAN PAYMENT ECOSYSTEM WITH THE BRAND UNVEIL OF DOMESTIC CARD SCHEME

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The CBN announced in 2022 that it will be launching a National Domestic Card Scheme in conjunction with the Nigeria Inter Bank Settlement Systems (NIBSS) Plc, the Bankers Committee and other financial ecosystem stakeholders.

The new Domestic Card Scheme is a robust in-country Scheme tailored to address the specific requirements of Nigeria’s payment industry and provide innovative offerings tailored to the Nigerian market and beyond. The Scheme will transform the domestic and African payment landscape through the promotion of innovation in the payment, enhancement of interoperability domestically and internationally and improvement in the suite of products and solutions offerings by banks and other financial institutions such as debit, credit, virtual, loyalty and tokenized cards.

The National Domestic Card set to be delivered to over 200 million Nigerians offers unique value propositions through enhanced data sovereignty and transaction security, better pricing opportunities, reduced demand for FX, enhanced financial access and support of the growth of a robust and inclusive digital economy, amongst others.

The brand unveil of the new Domestic Card Scheme by CBN and NIBSS will be take place on Thursday 26th January at a virtual event that will be graced by critical stakeholders in the financial ecosystem such as the Governor of the CBN, Deputy Governors of the CBN, the Director General Securities and Exchange Commission and Managing Director of the Nigeria Deposit Insurance Corporation. Also expected at the event are representatives of multilateral agencies, Switches and Processors, Payment Service Banks, Mobile Money Operators, Payment Terminal Service Providers, Payment Solutions Service Providers, card manufacturers and industry associations.

The launch of this historic Scheme presents a new dawn in the Nigerian payment ecosystem and unveils the unique opportunities presented by the Nigerian retail landscape. It is indeed the beginning of a new era, charting the future of the payment landscape as the first Domestic Card Scheme to be launched on the African continent.

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