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TCN Says Nigeria Needs N1TRN To Stabilize National Grid

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The Transmission Company of Nigeria says the country must fork out a lot of money, one trillion naira to be exact, if it is to stabilize the national grid.

The company’s executive director Victor Adewumi, dropped this bomb on Wednesday during the fifty-second power dialogue of the Nigeria electricity hub.

He said the one and a half trillion dollars inflow into the company from international agencies is not enough to stabilize the grid.  He said with internal financing through its internally generated revenue and federal government input, TCN would still require at least six hundred billion naira.  He said, when the two are combined, about one trillion naira would be needed to accomplish the goal.

Adewumi said that kind of money does not flow into TCN at the moment because distribution companies, discos, are not paying TCN the required monies.  Adewumi said TCN is getting below sixty percent of its tariff.

The TCN boss said the alternative funding avenue is to explore project financing, where financiers would fund specific areas of TCN operations, like transmission lines.  Those financiers would get their money back over a period of time, based on the cost of energy that is ultimately wheeled on those lines.

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Nigerian News

Police Confirm 8 Deaths, 60 Arrests In Effium-Ezza Effium

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The police in Ebonyi State have confirmed eight persons were killed in the unrest between Effium and Ezza Effium communities in Ohaukwu local government area of the state.

Ebonyi commissioner of police, Aliyu Garba said normalcy has returned to the communities, but at least eight houses and a petrol station were burnt.

He said a leadership tussle at the branch of the national union of road transport workers in the area, that involved old and new executives, torched the nerves that resulted in the fracas.

Garba said his command has ensured proper security in the area.  He expressed confidence no further breach of the peace would occur in the area again.

Commissioner for border, peace and internal security, lauded what he called the police proactive response which he said helped in restoring normalcy to the areas.

The deputy governor has called for calm.  He said the government would ensure this would be a permanent solution to the problem.

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Presidency Seeks Peace Over Ondo Herdsmen Fracas

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The federal government says it wants a peaceful resolution to the Ondo herdsmen conflict that has roiled sharp exchanges between the Ondo government and the presidency in the last week.

The seven-day ultimatum issued by the Ondo State government to unauthorized herdsmen to vacate the state’s forest reserves expired on Sunday.

In a bid to foster peace, the federal government has prompted the leadership of Miyetti Allah Cattle Breeders Association of Nigeria to hold an urgent meeting with southwest governors today, Monday.  State chairman of the association, Garba Bello, says the Natioal chairman of the association, Abdullahi Badejo, as well as governors of Ekiti, Osun, Jigawa and Kebbi states will participate in the meeting.

Oodua People’s Congress, OPC, has warned the presidency and the Arewa Consultative Forum against playing politics and ethnicity with what it calls the worrisome state of insecurity in the southwest.

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Saraki Calls For Peace In Ondo, Oyo Herders Crises

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Former senate president, Bukola Saraki has called for peace in Ondo and Oyo states where crises are brewing over quit notices to herders. In some parts of Oyo State, properties belonging to Fulani herdsmen have been burned because of tensions arising from opposing actions by the governor and a youth leader in the state.

Governor Seyi Makinde says the quit notice issued to the herdsmen in Igangan, Ibarapa local government area of the state by youth leader, Sunday Adeyemo, was illegal.  Adeyemo says the herdsmen are responsible for insecurity, kidnappings and other forms of violence in the area, and they should go.

Inspector-general of police, Mohammed Adamu, has ordered the Oyo police commissioner, Ngozi Onadeko, to arrest Adeyemo, also known as Igboho, and transfer him to Abuja.

This has sparked tensions in parts of the state.  Former senate president, Olusola Saraki, has released a statement that these developments pose a threat to the unity of the country, and that initiatives must be taken to douse the tension.  He called on Nigerians to live in peace with one another. He also urged president Muhammadu Buhari to provide leadership by finding appropriate solutions.

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