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EEDC set to distribute over 200, 000 prepaid metres

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…As U.S. lauds AU on Africa’s integration***

The Head, Communication Department, Enugu Electricity Distribution Company (EEDC), Mr Chukwuemeka Ezeh today indicated that the company has taken delivery of over 200,000 units of prepaid metres, and ready for distribution to its customers.

Ezeh who indicated  this in Awka, also said the company had enough metres to install for customers and appealed for calm and understanding, as due process had to be followed in distributing them.

He said the investment of N10 billion into the metering project was a demonstration of EEDC’s commitment to have all customers in the zone metered.

The communication officer said the amount was a far cry from what was required to metre its over 700,000 customers, adding that Distribution Companies needed support to succeed.

“We are presently running our in-house metering process in which we have committed over N10 billion but that has not scratched the surface because of the number of customers on the network.

“We do not have the enormous financial muscle to metre every customer at the same time but consciously and gradually, we are making progress.

“So far, we have taken delivery of over 200, 000 units of prepaid metres and as we push them out more are being supplied; we have a good number of metres to give out but we want customers to be patient.

“We are aggressively metering our customers and as a way of pursuing the project, most utility vehicles in our offices have been mobilised for the metering staff and in February, 4,000 units were installed,” he said.

Ezeh reiterated that prepaid metres were free and warned customers on the EEDC network not to give anybody money to get the device as it would not yield any special benefit.

He urged those seeking installation of prepaid metres to apply through the EEDC website and stay on the queue until it was their turn.

Ezeh also said it was unfortunate that while the company was making effort to metre people, some customers were rejecting prepaid metres and others bypassing it.

He said the regulation in the industry did not allow customers to buy directly from prepaid metre manufacturers or dealers.

Ezeh said there was the need to review the tariff system in the power sector as the prevailing Multi-Year Tariff Order (MYTO) module no longer allowed for cost reflective billing.

“MYTO is not cost reflective; it was designed when dollar was about N198 or so but now dollar is about N360, what that means is that we buy power at N198 and sell at N360 depending on the prevailing rate of dollar.

“DISCOs are those bearing the shortfall, imagine buying energy for N4 billion a month and struggle to collect N3 billion.”

Ezeh said EEDC had compiled and would publish the name of debtors and energy thieves on the network soon.

Meanwhile, the U.S. has lauded the African Union Commission for its efforts at Africa’s integration, describing it as “a force for good”.

U.S. Secretary of State Rex Tillerson, after his meeting with Chairperson of the AU Commission, Mr Moussa Mahamat, at the Commission’s headquarters in Addis Ababa, said he was in Africa ‘to listen”

Tillerson said “the purpose of my trip to this continent is to listen. I think it is important that we listen to what the priorities of the countries here on the continent are.

“And see where there is good alignment between their priorities and our areas of greatest interest as well. And I think we’ve already found there are many”.

He applauded the Africa Centres for Disease Control, saying it has been quite successful in tracking and responding to disease outbreaks on the continent adding, health security also advanced national security, economic development, and political stability.

On trade, Tillerson said U.S. supported AU’s economic regional integration efforts to lower intra-trade barriers on the continent and boost more intra-regional trade.

He said U.S. appreciated AU’s very strong statements on South Sudan at the recent AU summit, adding U.S. truly calls on all parties to abide by the cessation of hostilities and be open to compromise for the good of the South Sudanese people.

Tillerson commended the AU’s Mission in Somalia, saying it is clearly an example of countries coming together to counter terrorism, promote stability, and enable delivery of much-needed aid to the Somali people.

He also discussed ways to ensure the G5 Sahel forces have the necessary resources to continue their fight against terrorism, and how we can put in place more sustainable funding models so they have greater certainty around how to plan the future fight against terrorism in the Sahel region as well.

Tillerson said fighting corruption was another area of common cause between Africa and U.S. adding, we’re very pleased to see that the African Union has named 2018 as the year for winning the fight against corruption.

“From high-level secret deals to petty bribes on the street, corruption really does steal the precious resources from job creators and entrepreneurs and others who would promote benefits to the greater society and to the citizens of those countries.

“Good governance and transparency are essential to creating the conditions for economic growth and prosperity, and we look forward to continuing our joint efforts with the African Union to improve the business environment on the continent.

“But transparency really is an essential requirement for good business conditions and will attract greater investment and economic activity as well.

“That includes supporting greater intra- and global-trade investments in Africa as the environment creates competitive conditions,” he stressed.

Tillerson reiterated U.S. desire for more African nations to apply concrete diplomatic and economic pressure on North Korea, noting the global maximum pressure campaign, which has been supported by multiple UN Security Council resolutions.

Mahamat, in his remarks, said his discussions with the U.S. envoy was fruitful, noting the visit was taking place at a time when Africa was firmly embarking on the path to integration and reform.

“We informed him of our efforts aimed at establishing a market of more than a billion people, and to stress that a strong AU is in the interest, not only of the continent, but that of our partners also, including the U.S.

“We have agreed to work for the strengthening of the trade and commercial relations between Africa and the U.S., including the post-AGOA – the African Growth and Opportunity Act,” he said.

Mahamat said they also talked about some conflict situations faced by the continent, and the best way the U.S. could support the African efforts in order to promote peace and security.

He said they underscored the importance of nonproliferation of weapons of mass destruction, particularly nuclear weapons, calling for the scrupulous observance and compliance with international instruments.

He recalled the commitment of the AU to multilateralism as being the most effective tool to promote peace and prosperity.

Economy

Makinde Presents N434.2bn 2024 Budget Proposal For Oyo State

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PDP’s Agboworin wins House of Representatives re-run election in Oyo

 Gov. Seyi Makinde of Oyo State on Tuesday presented a budget of N434.2 billion for 2024 to the State House of Assembly for consideration and approval.

According to Makinde, the budget is made up of N222.3 billion for capital expenditure, and N211.8 billion for recurrent expenditure.

Presenting the budget tagged: “Budget of Economic Recovery”, the governor said the capital expenditure is 2.4 percent higher than the recurrent expenditure.

He added that the 2024 budget was estimating an increased Internally Generated Revenue of N72 billion with an average of N6 billion monthly.

Education gets the highest share of the budget with N90.6 billion or 20.8 percent of the budget, followed by Infrastructure which gets N74.3 billion or 17.1 percent of the appropriation bill.

The health sector takes the third position with N40.9 billion, which is 9.4 percent and Agriculture has N15.8 billion, which is 3.6 percent of the total budget proposal.

PDP’s Agboworin wins House of Representatives re-run election in Oyo

*Governor Seyi Makinde

He promised that the 2024 budget would cover projects, policies, and actions “which when implemented will cushion the effect t of the hardship the people are facing as a result of fuel subsidy removal.”

Makinde further said that his administration would continue to use technology to block loopholes, saying his government has no plan to increase taxes.

He urged the House of Assembly to see to the speedy passage of the budget proposal for the state’s economic growth and benefit of the people of Oyo State.

Responding after the presentation, the Speaker of the House of Assembly, Mr ‘Debo Ogundoyin (PDP Ibarapa East) assured the governor of speedy consideration of the Appropriation Bill.

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Economy

Troops Destroy 51 Illegal Refining Sites, Recover Stolen Crude Oil – DHQ

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….Destroy 7 dugout pits, 25 boats, 47 storage tanks, five vehicles, one outboard engine, others

The Defence Headquarters says  troops of Operation Delta Safe have  destroyed 51 illegal oil refining sites and recovered stolen crude oil and refined products in the Niger Delta in the last one week.

The Director of Defence Media Operations, Maj.-Gen. Edward Buba, disclosed  in a statement on Friday in Abuja.

Buba said the troops also apprehended 58 perpetrators of oil theft and denied them of  estimated sum of N668.7 million

He said the troops destroyed seven dugout pits, 25 boats, 47 storage tanks, five vehicles, 141 cooking ovens, one pumping machine, one outboard engine, one tricycle, one speedboat and one tugboat.

According to him, troops recovered 267,700 litres of stolen crude oil, 567,700 litres of illegally refined AGO and 5,000 litres of DPK.

“Troops has maintained momentum against oil theft and arrested persons involved in oil theft in Bonny and Ikpoba Local Government Areas of Rivers and Edo States respectively.

“Troops also arrested suspected armed robbers and foiled illegal bunkering activities in Oshimili South and Ukwa West of Delta and Abia States respectively,” he said.

In the South East, Buba said  troops of Operation UDO KA arrested 15 suspected criminals and repelled attacks by IPOB/ESN criminals in Anambra, Abia and Imo States.

He said the troops conducted raids and rescued kidnapped hostages in Ishielu and Igbo Eze North Local Government Areas of Ebonyi and Enugu States respectively.

He said the troops neutralised three criminals, rescued five kidnapped hostages and recovered 14 rounds of 7.62mm NATO ammo.

In the South West, Buba said  troops of Operation AWATSE foiled armed robbery attacks in Orelope and Olorunsogo Local Government Areas of Oyo State and arrested a gunrunner in Obafemi Owode Local Government Area of Ogun.

According to him, troops rescued 15 kidnapped hostages and recovered two vehicles.

“All recovered items, arrested suspects and rescued hostages were handed over to the relevant authority for further action,” he added.

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Economy

NEPZA Boss Says Nation’s Free Trade Zones Not Really `Free’

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The Nigeria Export Processing Zones Authority (NEPZA) says the country’s Free Trade Zones are business anchorages that have for decades been used to generate revenues for the Federal Government.

Dr Olufemi Ogunyemi, the Managing Director of NEPZA, said this in a statement by the authority’s
Head of Corporate Communications, Martins Odeh, on Monday in Abuja, stressing that the the widely held notion that the scheme is a `free meal ticket’ for investors and not a means for the government to generate revenue is incorrect.

Ogunyemi said this public statement was essential to clarify the misunderstanding by various individuals and entities, in and out of government, on the nature of the scheme.

He reiterated the authority’s commitment to enhancing public knowledge of the principal reason for the country’s adoption of the scheme by the NEPZA Act 63 of 1992.

“The Free Trade Zones are not hot spots for revenue generation. Instead, they exist to support socioeconomic development.

“These include but are not limited to industrialisation, infrastructure development, employment generation, skills acquisition, foreign exchange earnings, and Foreign Direct Investments(FDI) inflows,” Ogunyemi said.

The managing director said the NEPZA Act provided exemption from all federal, state, and local government taxes, rates, levies, and charges for FZE, of which duty and VAT were part.

“However, goods and services exported into Nigeria attract duty, which includes VAT and other charges.

“In addition, NEPZA collects over 20 types of revenues, ranging from 500,000 dollars-Declaration fees, 60,000 dollars for Operation License (OPL) Renewal Fees between three and five years.

“There is also the 100-300 dollar Examination and Documentation fees per transaction, which occurs daily.

“There are other periodic revenues derived from vehicle registration and visas, among others.

“The operations within the free trade zones are not free in the context of the word,” he said.

Ogunyemi said the global business space had contracted significantly, adding that to win a sizable space would require the ingenuity of the government to either expand or maintain the promised incentives.

“These incentives will encourage more multinational corporations and local investors to leverage on the scheme, which has a cumulative investment valued at 30 billion dollars.

“The scheme has caused an influx of FDIs; it has also brought advanced technologies, managerial expertise, and access to global markets.

“For instance, the 52 FTZs with 612 enterprises have and will continue to facilitate the creation of numerous direct and indirect jobs, currently estimated to be within the region of 170,000,” he said.

Ogunyemi said an adjustment in title and introduction of current global business practices would significantly advance the scheme, increasing forward and backward linkages.

“This is with a more significant market offered by the Africa Continental Free Trade Agreement (AfCTA).

“We have commenced negotiations across the board to ensure that the NEPZA Act is amended to give room for adjusting the scheme’s title from `Free Trade Zones to Special Economic Zones respectively.

“This will open up the system for the benefit of all citizens,” he said.

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