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Ondo Commissioner Slams NERC Over Power Control Dispute

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Ondo NERC electricity control dispute as commissioner accuses regulator of retaining control despite 2023 Electricity Act decentralisation reforms

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The Ondo State Commissioner for Energy and Mineral Resources, Johnson Alabi, has accused the Nigerian Electricity Regulatory Commission (NERC) of continuing to exert control over electricity regulation in states, despite the decentralisation provisions introduced under the Electricity Act 2023.

Also read: National Assembly to NERC, suspend June electricity tariff hike

Alabi made the allegation during a televised interview on Thursday, where he argued that the transfer of regulatory powers to sub-national governments has not been fully implemented by the federal electricity regulator.

He stated that while NERC has publicly maintained that it has ceded regulatory authority to states for electricity generation, transmission and distribution, the practical situation on the ground suggests continued federal dominance.

According to him, “the control still resides at NERC,” describing the arrangement as an inconsistency that contradicts the spirit of the new electricity law.

The commissioner noted that Ondo State has already established its own electricity regulatory framework in line with constitutional and legislative reforms, adding that about 15 to 16 states are expected to independently manage their electricity markets.

Alabi also linked the ongoing regulatory disagreement to electricity infrastructure projects in Ondo State, particularly those executed by the Niger Delta Power Holding Company (NDPHC).

He lamented that several intervention projects within the state had remained unused and vulnerable to vandalism, especially in communities that have been without stable electricity supply for years.

The commissioner disclosed that the state government had engaged the NDPHC with a proposal to transfer some of the infrastructure to the Ondo State Power Company in order to improve electricity distribution in affected areas.

He maintained that electricity distribution within a state should fall under the exclusive authority of state governments where such infrastructure is located entirely within their jurisdiction.

Also read: BPE Plans IPO for DisCos, GenCo on Nigerian Exchange

The remarks highlight growing tensions between federal and state authorities over the implementation of Nigeria’s decentralised electricity framework, as reforms under the Electricity Act 2023 continue to reshape the sector.

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AICL Woos Ugandan Investors, Invites Them to ABIE 2027

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AICL asked Ugandan investors Nigeria to use Abuja as an entry point and to attend ABIE 2027, as officials from both countries pushed AfCFTA trade links

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Tinubu to Open Niger Delta Economic Summit in Port Harcourt

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Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth

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Dangote Refinery Sets ₦525 Share Price for Landmark IPO

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Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.

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The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.

The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.

The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.

The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.

The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.

The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.

The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.

The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.

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