Power Generation Drops by 45.4% to 2,777 MW, Highlighting Persistent Sector Challenges

Power generation in Nigeria fell dramatically by 45.4% to 2,777.04 Megawatts (MW) on Wednesday, following a peak of 5,040.72 MW recorded just a day earlier. According to data from the Nigeria Electricity System Operator (NESO), part of the Transmission Company of Nigeria (TCN), generation peaked at 4,370.14 MW around midday before dropping further later in the day.

This decline underscores ongoing issues in the power sector, including inadequate gas supply to thermal stations and deteriorating transmission infrastructure. Despite recent adjustments to billing for Band A power consumers, improvements in the power value chain remain elusive.

Minister of Power, Adebayo Adelabu, had previously reported a high of 5,313 MW on Monday, but Vanguard’s findings indicate the figure closed at 3,940.49 MW with a peak of 4,805.59 MW recorded at 8:00 PM.

In response to the sector’s struggles, Sanusi Garba, Chairman of the Nigeria Electricity Regulatory Commission (NERC), has urged investors and distribution company owners to propose solutions and regulatory interventions to address the sector’s challenges. Adetayo Adegbemle of Power Up Nigeria emphasized the need for appropriate electricity pricing, subsidy removal, and innovative metering solutions to better meet market demand and support sector development.

Adegbemle also advocated for a liberalized electricity market to ensure comprehensive and efficient power coverage across the country.

Unveils $115 Million Upgrade at West Africa Container Terminal

Vice President Kashim Shettima officially inaugurated a $115 million upgrade at the West Africa Container Terminal (WACT) in Onne, Rivers State, on Wednesday. This significant investment highlights APM Terminals’ dedication to bolstering Nigeria’s economic growth and its role as a major trade hub in West Africa.

The upgrade includes extensive yard expansion, acquisition of state-of-the-art equipment, and the construction of a modern office complex. Key additions include New Mobile Harbour Cranes (MHC), Rubber Tyre Gantries (RTG), and advanced Cargo Handling Equipment (CHE), which are expected to improve turnaround times and enhance overall efficiency.

The inauguration was attended by numerous dignitaries, including the Secretary to the Government of the Federation, Senator George Akume, and other high-profile officials. Vice President Shettima, represented by Musaddiq Mustapha, the Personal Assistant to the President on Subnational Infrastructure, praised APM Terminals for its commitment and assured ongoing government support to foster a conducive business environment.

The upgraded terminal aims to attract more vessels and improve service delivery, reinforcing Nigeria’s position as a vital player in global trade.

Cryptocurrency Expert Warns Against Celebrity Endorsements and Quick-Rich Schemes

Rume Ophi, an alternative finance and cryptocurrency expert, has advised Nigerians to be cautious of celebrity endorsements and promises of quick wealth in the crypto space. In a statement to Vanguard, Ophi, also known as the Cryptopreacher, highlighted the dangers, especially after the recent collapse of $Jota Coin.

He explained, “The value of $Jota Coin plummeted shortly after launch, with evidence showing liquidity was withdrawn within 30 minutes.” Ophi urged the public to learn from past incidents, cautioning against tokens that might be scams.

He also drew attention to similar issues in the U.S., where celebrities like the Kardashians faced heavy fines for promoting cryptocurrencies without full disclosure. He warned Nigerian celebrities to be careful with their endorsements in this risky market.

Ugandan Olympian Rebecca Cheptegei Dies After Being Set on Fire by Partner

Rebecca Cheptegei, a Ugandan Olympian, has passed away in Kenya four days after being set on fire by her boyfriend, Ugandan athletics officials confirmed on Thursday.

“We are saddened to announce the tragic loss of our Olympic athlete Rebecca Cheptegei following a brutal attack by her partner,” Uganda Olympic Committee President Donald Rukare shared on X. He called the incident a “senseless act” that has robbed the sports world of a remarkable athlete, noting that her legacy will live on.

Cheptegei’s partner, Dickson Ndiema Marangach, allegedly doused her with petrol and set her on fire at her home in Endebess, Kenya, on Sunday. The 33-year-old athlete, who had recently competed in the Paris Olympics, suffered burns on 80 percent of her body and succumbed to her injuries on Thursday after battling for her life at Moi Teaching and Referral Hospital.

A witness to the horrific event was one of Cheptegei’s daughters, who tried to help her mother but was unable to stop the flames. “He kicked me as I tried to save my mom,” the young girl told Kenya’s The Standard.

Marangach, who sustained 30 percent burns during the incident, was also injured.

The Uganda Athletics Federation condemned the attack and called for justice, describing the incident as a tragic example of domestic violence, a persistent issue in the region. This comes in the wake of similar tragedies in Kenya, including the deaths of athletes Agnes Tirop and Damaris Mutua in recent years.

Domestic violence remains a serious concern in Kenya, where 34 percent of women have reported experiencing physical violence since the age of 15, according to 2023 statistics.

Black Market Dollar to Naira Exchange Rate for September 5, 2024

The exchange rate for the dollar to naira at the black market (parallel market) today, September 5, 2024, stands as follows:

  • Buying Rate: ₦1635 per $1
  • Selling Rate: ₦1645 per $1

Please note that these rates may differ slightly depending on the location and the Bureau De Change (BDC) operators. The Central Bank of Nigeria (CBN) does not officially recognize black market rates and urges individuals to approach their banks for foreign exchange transactions.

For comparison, the CBN official rate is:

  • Buying Rate: ₦1594 per $1
  • Selling Rate: ₦1595 per $1.

Dangote Refinery Begins Fuel Supply in Naira

In related news, the Dangote Refinery has commenced the supply of petrol, starting with 25 million litres daily in September 2024. This follows an agreement between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian National Petroleum Corporation Limited (NNPCL) to sell crude oil to the refinery in naira.

The deal, initiated by President Bola Tinubu’s administration, is expected to reduce pressure on foreign exchange by at least 40%. The supply is set to increase to 30 million litres daily by October 2024.

Transport Fares Surge in Kaduna After Petrol Price Hike

The recent petrol price increase from ₦617 to ₦897 per litre, effective September 3rd, has caused a sharp rise in transportation costs across Kaduna. Residents report that fares for commercial tricycles (Keke) and motorcycles have doubled, making commuting difficult.

For instance, a trip from the central market to Sabo now costs ₦500, up from ₦300. Similarly, other routes like Barnawa and Narayi have seen fare hikes, with Gonin Gora to Kasuwa now costing ₦500, compared to ₦300 previously.

Commercial operators cite rising fuel costs and reliance on black market petrol, sold at ₦1,400 per litre, as the cause. Residents are pleading for government intervention to ease the burden.

Reps Clarify Gbajabiamila’s Role: No Authority for Oversight Functions

The House of Representatives has clarified that Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, lacks constitutional authority to conduct oversight functions in government agencies. Deputy spokesman Philip Agbese emphasized that oversight remains the exclusive power of the National Assembly, as outlined in Sections 88 and 89 of the 1999 Constitution.

Agbese explained that while Gbajabiamila can make courtesy visits to government agencies, labeling them as “oversight” contradicts the Constitution. The clarification followed reports that Gbajabiamila visited several agencies, raising concerns over the nature of his visits.

Lagos to Establish Drug Manufacturing Agency for Quality Assurance – Sanwo-Olu Administration

The Lagos State Government has announced plans to create a drug manufacturing agency aimed at improving access to high-quality pharmaceuticals. This was revealed by Commissioner for Health, Prof. Akin Abayomi, during the 7th Nigeria Pharma Manufacturers’ Expo in Lagos.

The initiative seeks to boost local drug production and ensure stringent quality assurance through partnerships with private sectors and random testing alongside NAFDAC. Prof. Abayomi emphasized the importance of adopting global best practices to enhance the security and sufficiency of medicines within Nigeria. Draft legislation for the agency is currently being prepared for submission to the Lagos State Assembly.

INEC Shuts Down Media Accreditation for Edo Governorship Election

The Independent National Electoral Commission (INEC) has officially closed the media accreditation portal for the forthcoming Edo State governorship election, set for September 21, 2024. The portal will shut down at midnight tonight, with no extensions granted.

Sam Olumekun, INEC’s National Commissioner and Chairman of the Information and Voter Education Committee, emphasized the importance of meeting the deadline, warning that late applications will not be entertained. To date, 113 media organizations have registered a total of 865 journalists to cover the event.

INEC also cautioned that any media outlet failing to complete the accreditation process by the deadline will be prohibited from observing the voting process and the collation of results.

With the deadline fast approaching, INEC has urged media organizations to finalize their accreditation to ensure their participation in covering the election.

2025 AFCON Qualifiers: Gernot Rohr Braces for Super Eagles’ Revenge as Benin Republic Defender Injured

Gernot Rohr, head coach of Benin Republic, is anticipating a challenging encounter against Nigeria’s Super Eagles this Saturday. Rohr acknowledged that Nigeria will be eager to seek retribution after Benin Republic’s unexpected 2-1 victory over them in a 2026 FIFA World Cup qualifier in June.

The two teams will meet again in a 2025 Africa Cup of Nations (AFCON) qualifier on September 7 at the Godswill Akpabio International Stadium in Uyo. Rohr expects the Super Eagles to be a much stronger side this time, noting that key players like captain William Ekong, Victor Osimhen, and Ola Aina, who were absent in June, will bolster the Nigerian squad.

“Nigeria is not a conquered territory; they will certainly come with a spirit of revenge, which can be significant. The team now includes players who were not there before, making them stronger,” Rohr said. “We are cautious, especially since they are playing at home and are likely determined to secure a result after recent draws and defeats.”

In the meantime, the Cheetahs of Benin Republic will be without defender Mohamed Tijani for their match against Nigeria. Tijani, 27, suffered an ankle sprain during training this week. The team’s medical staff is working diligently to have him fit for their next fixture against Libya’s Mediterranean Knights.

The match promises to be a high-stakes encounter as both teams vie for crucial points in the AFCON qualifiers.