Electricity tariffs to go up in April

Nnaji
The Nigerian Electricity Regulatory Commission will announce new tariffs in April, while the winding up of Power Holding Company of Nigeria’s operations may be concluded by the first quarter of the year, the Presidential Task Force on Power has disclosed.

A report by the task force on the implementation of the road map for power sector reform said that NERC had initiated studies and consultations to determine a level of tariff that would stimulate investment by making it possible for investors to recover their costs.

It added, “New tariffs will be announced by April 2011.”

Analysts expect that the tariffs will go up to a cost-reflective level to stimulate private sector investment in the electricity business.

An average customer currently pays about N5.90 per kilowatt hour for electricity.

The task force also said that the Federal Government might conclude the winding up of PHCN’s operations by the first quarter of this year.

It stated that the process of winding up the company was already on and that it might be concluded by the end of the first quarter.

The report said, “This process is underway. Headquarters’ members of staff have started moving out to the Ministry of Power or to successor companies. Functions are being transferred to individual successor companies. The eventual winding-up will be a legal or court-ordered formality, occurring when ongoing staff movements and transfer of assets and liabilities are concluded, probably during Q1 2011.”

It added, “The 11 distribution, six generation and one transmission companies now have individual budgets. The companies are now de facto independent entities, thus putting the PHCN in winding-up mode. All of the PHCN successor companies are set to enter the ‘Transition Stage’ of the reform when they will buy and sell electricity based on contracts agreed with each other and stop operating as part of a government monopoly financed through a common budget and obliged to provide power or electricity evacuation services to each other without payment.

“This will create incentives for the power companies to provide service to as many Nigerians as possible and as frequently as possible, so they can earn money to pay for their inputs and operational costs.”

The task force stressed that the implementation of the reform would continue apace and that by mid-2011, an appreciable proportion of generating and distribution capacities would have been transferred to the private sector.

It said, “New private generating capacity would have been fully contracted and under procurement, the transmission grid would be privately managed and a reinvigorated regulator would be actively ensuring long-term sustainability of a private sector-led Nigerian electricity supply industry.”

The task force said it was committed to replicating the success that Nigeria recorded with the liberalisation of the telecommunications sector in the power sector with all the potential it had for a far more fundamental impact on job creation and economic growth.

It said that political support from the highest quarters of government had not flagged, noting that regardless of the increased tempo of electioneering, there was continued pressure, not only from the government, but also from manufacturers, the media, civil society groups and others on the task force to deliver tangible results to Nigerians.

Source:http://www.punchng.com/

 


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Christ Embassy: Worshippers Pay N1,000 To Enter Oyakhilome’s Church

Christ Embassy Church in Lagos, South-West Nigeria, is being turned into show business as members were made to part with N1, 000 each as gate fee before they could enter their church to attend the New Year’s Eve service, P.M.NEWS can reveal. P.M.NEWS confirmed that only members who could afford the N1, 000 gate fee were allowed into the premises of Christ Embassy Headquarters at Oregun, Lagos,  where self-styled cleric and business man, Pastor Chris Oyakhilome, preached on 31 December 2010.
Indigent members who could not afford the N1, 000 tickets, were denied access and sent back by security men at the gate, it was learnt. The church, a source said, realised about N25 million from about 25, 000 members who bought the tickets. It was gathered that the church informed its members that it decided to impose a gate fee to control the huge crowd that always besiege the church on the New  Year’s Eve church service.

“Pastor said that to control the crowd and only allow genuine members who could do anything to be in church, it was good to pay a gate fee. Last year for  instance, even senior pastors in the church could not secure a seat in the church on New Year’s Eve service,” our source said. The ticket, bought by our correspondent, was still on sale today, five days after the New Year’s church service took place.

A copy of the ticket has the following information printed on it: “one service…different locations worldwide impact! Time: 7 pm, Venue: Loveworld Convocation  Arena, N1,000, December 31st New Year’s Eve Service With Pastor Chris.” There is also a bold picture of Oyakhilome wearing one of his flashy suits. On the background there is a huge crowd in adulation of the man who once boasted  that he will never be broke in life.

At the back of the ticket is a bold inscription : “ This ticket admists one person.” The development, described as scandalous by those who got a glimpse of it, is unprecedented in the history of Christianity in Nigeria. In the medieval period, similar scandals led to the break-away of Martin Luther from the Catholic church. This led to the formation of the Protestant  movement.

At that time, Catholic priests were collecting money, known as indulgences, from worshippers before they could confess their sins. These indulgences had become big business in much the same way pledge drives have become big business in Nigeria. The development outraged Luther and others who kicked against it, quit the church and founded the protestant movement.

The latest scandal in Oyakhilome’s church comes only weeks after he appeared before the Economic and Financial Crimes Commission, EFCC, to answer questions  on money laundering allegations. According to TheNews magazine edition of 13 December 2010, the alleged laundering of $35 million by Christ Embassy was traced by the Economic and Financial  Crimes Commission with the help of foreign partners.

The magazine reported that Oyakhilome and money have had a bitter-sweet relationship. While money has brought  him a lush lifestyle: an eye-popping auto  collection, a movie-star wardrobe of  stylish suits and choice properties that include a stunning church auditorium, it  has also brought him an arm-long  list of scandals.

Source: Simon Ateba - PM News. 



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