Connect with us

General News

No plan to privatise TCN – BPE

Published

on

BPE

Mr Yunana Malo, Director, Energy Department, Bureau of Public Enterprises (BPE) says there is no plan to privatise the Transmission Company of Nigeria (TCN).

He said, at a media conference on Monday in Abuja, rather than that, the Bureau would concession it to get maximum value.

He said transmission was the weak link in the power reform, as generation which was privatised had since attracted a lot of investments, making it more efficient.

He said the generation capacity had improved, adding that 60 per cent of the distribution segment had also been partially privatised and was beginning to pick up through the reforms of the Federal Government.

“The seemingly weak link is the transmission component, it is still 100 per cent owned by the FG.

“The idea is to think outside the box and bring in solutions that will make the transmission component service the value chain, and make it more efficient.

“Government is not thinking of privatising, it is thinking of ways and means that the private capital can be brought into the transmission component without giving out the ownership of Transmission Company,” said Malo.

He explained that the Bureau would concession the transmission segment, “so that we can have somebody building the high tension lines, covering areas that have not been reached or to maintain the existing ones to get maximum value, to move from the radial system we have today into a mesh.

“So the idea is not to privatise but to reform and make it efficient, bringing in private sector operational modalities within the transmission company.”

On the Federal Government’s 40 per cent stake in the Distribution Companies (DISCOS), Malo said the shares were still intact and protected by BPE.

Mr Alex Okoh, BPE Director-General, said over the years, N1 trillion had been generated from 234 concluded transactions of previously government-owned enterprises from various sectors of the economy.

He said the Bureau expected to generate N493.40 billion net revenue from various transactions as approved by the National Council on Privatisation (NCP).

He said over 30 projects had been categorised under five segments with 22 of them carried over from 2020.

He, however, said the plan to privatise the nation’s refineries had been dropped as the Federal Government was considering other approaches to revitalise and improve on them.

The director-general said BPE was very close to resolving the issues surrounding the Ajaokuta Steel Company, especially the litigation and that once that was done a decision would be taken on how to proceed with it.

Okoh said the rationale for privatisation was to generate revenue for government, reduce operational inefficiencies, revitalise and optimise public sector entities and increase investment level as a catalyst for growth.

“The country’s fiscal space is getting increasingly constrained, as a result government cannot provide the resources required to meet all of its obligations and bridge the huge infrastructure gap.

“The most feasible option is to attract private sector investments. BPE’s current initiative in its 2021 work plan and additional roles in the Public Private Partnership (PPP) space is, therefore, poised to impact on the economy positively.

“This is in the areas of infrastructure development, improved health care service delivery, power generation and supply, employment creation, food security and human capital development,” he said. (NAN

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General News

Nigerian Anglicans Condemn Lesbian Archbishop of Wales, Deepening Global Anglican Rift

Published

on

Anglican Church logo

…Church leaders accuse Welsh counterparts of “spiritual decadence” and “abandonment of faith”

The Church of Nigeria (Anglican Communion) has issued a forceful condemnation of the election of Rt. Rev. Cherry Vann, an openly lesbian cleric, as the Archbishop of Wales. The move is the latest in a series of developments that have deepened divisions within the global Anglican Communion over sexuality and doctrine.

In a statement from Primate The Most Rev’d Henry Ndukuba, the church denounced the election as a “serious departure from biblical teaching” and a sign of “spiritual decadence” and “an outright abandonment of the faith once delivered to the saints.”

Archbishop Ndukuba warned that Bishop Vann’s elevation compromises the Anglican Church’s global mission and could obstruct evangelism. He compared the situation to the controversial tenure of Most Rev. Katherine Jefferts Schori, former Presiding Bishop of the U.S. Episcopal Church, who also faced intense criticism from conservative Anglicans for her progressive views.

The Primate accused Bishop Vann of being complicit in the “ongoing crisis” around same-sex issues, stating that the election is a “clear revelation that many who claim to be members of the body of Christ cannot endure sound doctrine” (2 Timothy 4:3–4).

The Church of Nigeria called on Anglicans worldwide to reject “rebels” and “apostates” and to instead support conservative bodies like the Global Anglican Future Conference (GAFCON).

“The Church of Nigeria (Anglican Communion) condemns, unequivocally rejects, and will not recognize the election of Rt. Rev. Cherry Vann as Archbishop of Wales,” Ndukuba declared. He concluded with a solemn warning that without repentance, the Church in Wales risks losing “complete relevance” and its leaders will face judgment.

 

Continue Reading

General News

Anglican Church Urges Government To Prioritize Citizen Welfare

Published

on

Anglican Church in Service

The Primate of the Church of Nigeria Anglican Communion, Most Reverend Henry Ndukuba, has called on political leaders to prioritize the welfare of citizens.

During a recent church service in Abuja, Ndukuba noted that many Nigerians are struggling with challenges brought on by the global economic downturn. He urged state and local governments to implement new initiatives to lessen the impact on their communities.

The Primate also stressed that the federal government must effectively monitor its programs to ensure that Nigerians fully benefit from the nation’s democratic gains. He argued that if the current administration can effectively tackle corruption, the country would significantly benefit from the economic policies of President Tinubu’s government.

Ndukuba concluded by asking the congregation to continue praying for those in authority, remain committed to national unity, and show love and support for the less privileged. He also tasked the newly inducted members of the Church Mothers’ Guild with aggressively spreading the gospel.

Continue Reading

General News

Hardship: A Veil Of Sorcery And Darkness Over Nigeria – Pastor Enenche”

Published

on

Pastor Paul Enenche

Senior Pastor of Dunamis International Gospel Centre, Dr. Paul Enenche, has expressed deep concern about the current situation in Nigeria.

Enenche stated that the nation is under an evil spell due to the economic hardship affecting the country. He described Nigeria as being covered by a “blanket of sorcery and darkness,” leading many citizens to endure poverty and hardship in silence.

“There’s a blanket of sorcery and darkness over this nation—an evil spell making people tolerate what should provoke outrage,” he wrote.

In a post on his official X account on Thursday, the cleric highlighted the economic struggles faced by many Nigerians, noting that an increasing number of church members now line up after services not for spiritual counselling or prayer, but to help with basic needs such as rent, school fees, food, and medical bills.

“People are suffering. Pastors are exhausted. Members now queue after service not for prayer, but for assistance,” he lamented.

He also criticised political leaders for their insensitivity and failure to address the dire situation across the country.

“Yet, the leaders act as though nothing is wrong. This is not normal—it is witchcraft. It is a spell of patience in captivity, leading to a demonic tolerance of suffering.”

Calling for divine intervention, Enenche declared, “Let every evil spell over this land be broken! Let those misruling with arrogance and mocking the people’s pain face divine judgment. They shall not see the celebration of their wickedness.”

Continue Reading