The federal government has issued an order banning private individuals from buying transformers
Minister of power, works and housing, Babatunde Fashola gave the order on September 8
Fashola explained that it is the job of Discos to do the buying of transformers
Babatunde Fashola the minister of power, works and housing yesterday, September 8 issued an order when he received the new MD of the Abuja Electricity Distribution Company (AEDC), Mr Ernest Mupwaya.
He ordered that electricity distribution companies (Discos) are to henceforth stop customers from buying transformers privately.
He said: “Private purchase of transformers must stop because that is the responsibility of the Disco and that is what will bring confidence that the system is working.”
While speaking on liquidity challenges, Mupwaya said that since the Disco could not post a Letter of Credit (LC) with the Nigerian Bulk Electricity Trading Plc (NBET), it could not benefit from the Central Bank of Nigeria (CBN) power fund to boost its investments.
“We seek the minister’s ‘No Objection’ to use a portion of the MDAs debts as collateral for the LC,” Mupwaya said.
In his response to the issue of liquidity, Fashola explained that: “We need to verify some of the debts and stratify who owes what and who is owed what.” He urged AEDC to provide information to speed up the process.
Meanwhile, it seems Nigeria is already set to benefit from President Muhammadu Buhari’s trip to China as the 3050 WM Mambilla hydro-power project is set to start.
There are reports that 40 Chinese engineers visited the site located at Gembu in Taraba State accompanied by officials from the Federal Ministry Power, Works.
The team of expert inspected areas mapped out for the project from River Dongo in Gembu, headquarters of Sardauna local government area. According to the design, the project will also boost irrigation farming in the state which has been applauded by farmers in the region.
With the recent out-burst of numerous bloggers, only a few stand out, of course our review separates Nora's blog from the plethora of slapdash Blogs. News,Music,Wellness,Supplements, Entertainment,Beauty,and yes... Gossip! FOR ENQ +2348106692263 +2348117103991
ConversionConversion EmoticonEmoticon