The Federal Government, yesterday, officially scrapped the Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA) and the Petroleum Equalisation Fund (PEF). Following the passage and implementation of the Petroleum Industry Act (PIA), the Upstream Regulatory Commission and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NPRA) are to[Read More…]
Tag: bill
PIB: The Political Journey of a Knotty Bill.
The Senate recently passed the Petroleum Industry Bill (PIB) and approved 3 per cent for the host communities. The upper chamber passed the Bill after the clause by clause consideration of the report of its joint committee on Petroleum (Upstream, Downstream and Gas) on PIB. Although the Senate approved three[Read More…]
Nigeria exported N32bn worth of electricity in 2019 — NERC
The Republics of Togo, Niger and Benin received a total invoice of N32.04bn for the electricity supplied to them from Nigeria in 2019, data from the Nigerian Electricity Regulatory Commission have shown. Nigeria, through some of its power plants, sell electricity to the neighbouring countries, which are classified as international[Read More…]
NERC to Sanction DISCOS for Breaching Capping Order Nigerian Electricity Regulatory Commission (NERC) yesterday gave seven Distribution Companies (Discos) 14 days to explain why they should not be sanctioned for breaching the capping order on estimated billing of customers without meters. NERC’s order 197/2020 placed limits on estimated bills that[Read More…]
How to Lower Your PHCN Bill…,
A thread on why PREPAID METER being distributed TO ALL may never be achieved in Nigeria. After the Nigerian Police, Nigerian Electricity distribution companies are next on the list of corruption. This has been in existence from time immemorial, just like barracks, many government have come and gone but the[Read More…]
Consumers paying for darkness…
Good afternoon sir, I’m forced to bring this to your attention from Obiosa, Ogunmuyiwa, jubrila, Bashorun streets among other streets, Johnson bus top, ijeshatedo, itire/ ikate Lagos that despite the fact that ijesha that distribute electricity in those areas shares electric supply with Baruwa, Okunnola, Sanusi, Mogaji streets among other[Read More…]
Electricity consumers to get refund of money from DISCOS – Reps
The House of Representatives is proposing that money spent by electricity consumers to acquire and maintain electrical facilities connected to the national grid be refunded by the distribution company. The distribution companies will be solely responsible for the purchase and maintenance of facilities in the electricity distribution network, as being[Read More…]
Finance ACT 2019: 20 Basic Food Items, Sanitary Pads Others Make List of VAT Exemption List
In a bid to ensure that the cost of living does not rise for Nigerians because of the changes in the Value-Added Tax, several basic food items, locally manufactured sanitary towels, pads and tuition relating to nursery, primary, secondary and tertiary education have been added to the exemption list of[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]