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Again, cooking gas price jumps by 240%

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Importers of Liquefied Petroleum Gas, popularly called cooking gas, have stopped importing the commodity.

Investigations also show that the cost of the product increased by 240 per cent for 12.5kg, jumping from N3,000 to N10,200 between January and October.

About 65 per cent of LPG is imported into Nigeria, while domestic production accounts for 35 per cent, hence the halt in imports could further shoot up cooking gas price if the situation is not addressed.

The Executive Secretary, Nigerian Association of Liquefied Petroleum Gas Marketers, Bassey Essien, told newsmen yesterday that the reintroduction of customs duty and Value Added Tax on imported LPG were the basic reasons for the halt in its imports by importers.

He stated that there were several other issues and stressed that if the halt in LPG imports should drag further, the supply of the commodity domestically could suffer severe drop.

This came as NALPGAM in an open letter to the Minister of State for Petroleum Resources, Chief Timipre Sylva, urged the minister to urgently intervene in the skyrocketing price of LPG in Nigeria.

The open letter was signed by the National President, NALPGAM, Olatunbosun Oladapo, and Essien. NALPGAM is the umbrella body of operators of LPG bottling plants licensed by the statutorily empowered government agencies to carry out the business of safe bottling of cooking gas.

Essien stated that due to the fears expressed by importers who had stopped importation of LPG into the country, cooking gas sourced from the Nigeria Liquefied Natural Gas company was now selling in the region of N11m per 20 metric tonnes truck.

This, he said, was with a cumulative daily increase of N300,000 to N500,000 per 20MT truck without the imposition of VAT and customs duties.

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Adelabu directs immediate overhaul of national grid

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Adebayo Adelabu, the minister of power, has asked the Transmission Company of Nigeria (TCN) and other relevant agencies to immediately implement recommendations to overhaul the grid.

Adelabu spoke on Thursday, according to a statement by Bolaji Tunji, special adviser to the minister of power on strategic communications and media.

On October 22, the minister set up a committee to address the incessant grid collapses.

Tunji said the committee recommended an audit and testing of existing equipment and improvement in the maintenance of the transmission equipment and lines.

“The committee called for significant investments from the government and the private sector,” Tunji quoted the minister as saying.

“They also recommended the development of a framework and to adopt reliability-centered maintenance.

“The committee identified critical ongoing projects for speedy completion, [and] also recommended the replacement of aged and obsolete equipment, as well as enhance SCADA and telecommunication tools.

“They also advised a developing framework to attract private investment across the value chain, deploy IoT devices on generating units and transmission lines and secure firm gas contracts.

“The committee also called for the development and implementation of measures to combat vandalism and energy theft among others.”

Tunji also said the minister’s order followed the TCN’s report that the national grid had experienced a disturbance on Thursday, caused by a sudden rise in frequency from 50.33Hz to 51.44Hz.

“All relevant agencies in the ministry must brace up for the immediate implementation of the recommendations of the committee,” he said.

“The recommendations of the committee are far-reaching and will proffer lasting solutions to the incessant power grid collapses that we have embarrassingly witnessed in the country in the immediate and long term.”

Bolaji added that the TCN has assured consumers that efforts are being intensified to ensure uninterrupted power supply.

He said the company is working to ensure the full implementation of the committee’s recommendations to save Nigeria from grid collapses.

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Nigerians experience blackout as national grid collapses second time in 72 hours

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The national grid has collapsed for the second time in 72 hours, leaving Nigerians in total blackout.

Data obtained from the Nigerian system operator’s portal showed that the grid recorded zero megawatts (MW) as of Thursday.

TheCable observed that the generation power dropped from 3,743MW at 10am to 2,709MW at 11am.

As of noon, the grid only recorded 3.70MW and 4.10MW at 1pm.

The Transmission Company of Nigeria (TCN) is yet to confirm the incident at the time of the report.

However, on its social media platform, Ikeja Electric Distribution Company (IKEDC) said it is experiencing a system outage affecting its supply.

“Please be informed that we experienced a system outage today 07 November, 2024 at 11:29Hrs affecting supply within our network,” IKEDC said.

“Restoration of supply is ongoing in collaboration with our critical stakeholders.Kindly bear with us.”

On Tuesday, the grid experienced a collapse – the ninth time in 2024.

TCN had blamed a series of lines and generator trippings as the reason for the instability of the grid and a partial disturbance.

On October 17, Adebayo Adelabu, minister of power, said the frequent system failure at the national grid is inevitable due to the outdated infrastructure.

Adelabu also said the country will continue to experience grid disturbances until there is a complete overhaul of the system.

The minister said more investment in power infrastructure will prevent future collapses.

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For second time in 4 months, DisCos raise meter prices by 28.03%

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Electricity Distribution Companies, DisCos, have announced a rise in the price of various electricity meter models, making it the second price hike in four months.

According to the DisCos, the cost of a single-phase meter has risen from approximately N117,000 to as much as N149,800. This amount indicates an increase of 28.03 per cent or N32,800, depending on the distribution company and meter vendor.

The new prices posted on the official X handle of the Discos yesterday were scheduled to take effect on Tuesday, November 5, 2024. It also reflected the deregulation of meter asset providers as directed by the Nigerian Electricity Regulatory Commission, NERC.

It was learned that the upward revision followed an earlier increase in August 2024, further amplifying concerns among electricity consumers about affordability and accessibility.

An analysis of the documents revealed that meter prices vary across DisCos, influenced by vendors and meter models (single-phase and three-phase).

Eko DisCo pegged the price of its Single Phase Metre between N135,987.5 and N161,035, while a Three Phase Metre was pegged between N226,600 and N266,600.

Ibadan DisCo said customers will pay between a range of N130,998 and N142,548 for a single-phase meter and N226,556.25–NN232,008 for a three-phase meter.

Customers under Abuja DisCo will pay N123,130.53–NN147,812.5 for single-phase meters and N206,345.65–NN236,500 for three-phase meters.

Kano Electricity Distribution said its customers will pay N127,925–N129,999 for a single-phase metre and N223,793–NN235,425 for a three-phase meter.

In April, the Nigerian Electricity Regulatory Commission introduced a significant policy shift by announcing the deregulation of meter prices under the Metre Asset Provider, MAP, scheme for end-user customers.

The move was targeted at addressing lingering issues surrounding meter supply and pricing transparency within the electricity sector.

According to NERC’s latest order, meter prices under the MAP scheme will now be determined through competitive bidding, rather than being centralised.

This shift is expected to foster greater competition among meter providers, ultimately improving cost efficiency and service delivery for end users.

The deregulation removes earlier operational restrictions, allowing MAP permit holders to provide metering services across all electricity distribution companies in Nigeria.

However, MAPs must meet specific regulatory requirements to ensure compliance and maintain quality standards in service delivery.

Recall that NERC regulated meter prices, which were often subsidised across all DisCos to reduce costs for customers. While this model aimed to make metering affordable, it inadvertently stifled competition and limited transparency in the supply chain.

As a result, DisCos and customers were unable to negotiate or explore better deals from meter vendors, contributing to inefficiencies in the system.

With deregulation now in place, NERC anticipates a more dynamic metering ecosystem where customers and DisCos can benefit from competitive pricing, improved service quality, and greater accountability among meter providers.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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