Federal Executive Council approves N27billion for reconstruction of Gombe – Biu road The Federal Executive Council today approved the sum of N27billion for reconstruction of Gombe – Biu road. The Council also approved N458million as consultancy fee for implementation of the National Economic Recovery and Growth Plan and the endorsement of the Nigeria National Building Code. These were the decisions taken by the Federal Executive Council today which held under Vice-President Yemi Osinbajo today. Briefing State State House correspondents after the meeting, Minister of Power, Works and Housing, Mr Babatunde Fashola, disclosed that the Gombe-Biu 117 kilometres road project which connects Gombe,Yobe, Adamawa and Borno states, will boost agricultural activities and power supply in the affected states. Mr Fashola however stated that the road project excluded the nine kilo metres already constructed by the Gombe state government. The Minister also disclosed that the Nigeria National Building Code, which was approved by the National Council on Housing, Land and Urban Development, was also endorsed by the council. Minister of Budget and National Planning Udoma Udo Udoma, who also briefed alongside Mr Fashola, told the correspondents that the Council approved the engagement of Malaysian based consultants to conduct a study that would aid the implementation of the National Economic Recovery and Growth Plan at the cost of (N458Million) 1.5 million dollars. ...

FG Recovers $64.6m Electricity Debt From International Customers The Federal Government on Monday announced that it had recovered 64.6 million dollars electricity debt from its international customers. Minster of Power, Works and Housing, Babatunde Fashola announced this at the 21st monthly power sector meeting in Asaba. Fashola, in a text of his opening remark made available to the News Agency of Nigeria (NAN) in Abuja, said that the money recovered was from Benin and Niger Republics. He said that Nigerian Bulk Electricity Trader (NBET) would work out modalities for distribution of the fund to the value chain operators. The minister also announced that Rural Electrification Agency (REA) had completed guidelines for the operation of the rural electrification fund. He said that the fund would help vulnerable groups and communities to gain access to funding to support their electricity development programme. “By way of explanation, the rural electrification fund was created by section 88 of the Electric Power Sector Reform Act (EPSRA) of 2005 to promote support and provide rural electrification access. “The fund will provide a partial single payment capital subsidy and or technical assistance to eligible private Rural Power Developers, NGOs or communities to invest in options such as hybrid mini grids or solar home systems to scale up rural access to electricity. “What they are likely to get are minimum amounts of N3.5m and maximum amounts of N106m or 75 per cent of project cost whichever is less,” he said. According to him, REA will publish details of the guidelines and eligibility. These, he said, were only headline items of developments that characterised the progress the government was making month after month, especially since March 2017. He said that progress was also being recorded at the distribution levels. He listed the recent achievements in the franchise areas of the Benin DisCo to include the newly completed Asaba main 2x15MVA injection substation commissioned on Monday. Fashola said the completion of the substation was expected to improve service by reduction of load shedding and increase power supply to Okwe, Akuebulu, Jarret, Ogbeofu, Osadebe way, Okwe housing estate and Oduke. “Minute by minute, hour by hour, day by day, week by week and month by month we have not only gained momentum, we are seeing progress that inspires us to continue, because the power problem can be successfully managed by Nigerians.” On further measures to improve power supply in the coverage areas of the Benin DisCos, Fashola said Asaba – Benin 330KV line was energized to service on Nov. 3. Asaba 330kv substation is now being fed from both Benin and Onitsha. “The line also raised the number of circuits from Onitsha to Benin to three. According to him, a 40mva 132/33kv mobile transformer is undergoing installation at Auchi with in-house capacity to be commissioned in two weeks time. Fashola also disclosed that a new 330/ 132kv substation would be constructed at Okpai with a 132kv line from the station to service a proposed 132/33kv substation at Kwale. He also hinted that installation of a new 60mva 132/33kv transformer would commence at Irrua transmission station any time from now. The minster thanked well-meaning Nigerians who acknowledged that their experience on the power supply had improved, adding that their honesty inspired government and the operators to continue the improvement. He, however, admitted that there were other challenges that must be collectively addressed. On estimated billing and metering, he also explained that government and sector operators were anxiously awaiting for the regulation from NERC to open up meter supply business. ...

Before Perception Becomes Reality A Statement By The Hon. Minister Of Power, Works And Housing, Mr Babatunde Raji Fashola, SAN Before perception becomes reality, I feel compelled to make this Statement in response to allegations bordering on financial impropriety raised on the Floor of the Senate against the Ministry of Power, Works and Housing, my Office as Minister, the staff of the Ministry and by extension my person. The sum and substance of the allegations to which the Ministry will provide full, factual and detailed response when formally invited are that: 1.   An amount in the region of $350million being part of a $1billion Eurobond facility taken in 2013 has gone missing or has been diverted. 2.   That the Ministry, had procured a contract for Afam Fast Power and paid $26million or thereabout for it. With all emphasis, I state that there is no factual basis for the allegations. The Ministry, my staff and I have done nothing wrong and we will collaborate fully with the Investigating Committee when called upon. For now, it suffices for members of the public to note that I wasn’t a Minister in 2013, and that when Government raises a Debt like the Eurobond, it is the Debt Management Office that manages the Debt and not the Ministry. The Nigeria Sovereign Investment Authority (NSIA) had on Monday, 6th November 2017 issued a Statement on the Front Page of The Nation Newspaper explaining that the money was not missing, stating also that the $350 million had been invested and that interest had even accrued on the money. If there was no ulterior motive for the allegation, this was enough reason for a reconsideration of the presentation of the Motion on the Floor of the Senate on the 8th of November 2017. But the story seemed to have changed from “missing money” last week, to a “desperate attempt to retrieve the money “, this week. As for the Afam Fast Power, the sum and substance of it is that , it was an investment by the General Electric, a globally reputed Original Equipment Manufacturer (OEM), to invest in our country and support our effort to get good quick power under our Roadmap of Incremental, Steady and Uninterrupted power. They offered to do this by providing Nigeria with mobile turbines of 600MW if we could find a location with Gas and Transmission evacuation infrastructure. The Afam Power Station fitted  because it had transmission and evacuation facilities but all its turbines had been virtually run down. The investment was contingent on paying $27,990,000 million which was 15% of 8 (eight) units of 30MW turbines each totaling 240MW valued at about $186,600,000:00. This payment of $27.9m was made without breaching any law. At this moment, the turbines have arrived Nigeria and currently at the Onne Port. This is verifiable just as works are on going on the site – civil and engineering – preparing to receive the turbines , and install other equipment already at site. All of these are verifiable by all well meaning Nigerians who may want to undertake the inspection. We expect that the project will be commissioned soon enough to add 240MW to the Grid. This will be one of the fastest power projects when delivered, compared to inherited power projects before this Administration. Investors to the best of my knowledge do not require Parliamentary approval to invest in our Country. All of these facts could have been easily verifiable by a simple letter from the Senator to the Ministry without the furore and suggestions of wrong doing and malfeasance. We must be careful about what we say and do with regards to investments and investors which we clearly need in all sectors of our developmental life and in particular in infrastructure and power. Unverified allegations such as the ones under discussion constitute an imminent threat to our investment climate.   For the avoidance of doubt, there has been no wrong doing whatsoever.   ...