Tag Archives: Imminent

Total Blackout Imminent As GENCOs, DISCOs Battle N400bn Debt

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Nigeria may be set for a total blackout as power generation as well as distribution companies say over N400bn debts are stifling their operations.

While GENCOs’ debt is put at over N300bn, DISCOs have complained of being owed over N100bn by customers.

With such a huge debt burden, the power firms said they lack the funding required for their operations, including the purchase of equipment and spare parts.

The Executive Secretary, Association of Power Generation Companies, Dr. Joy Ogaji, said, “The debt is over N300bn that GENCOs are being owed. If the situation is not checked, there will be blackout. It is so imminent that I don’t know if most of the generation we are having now can go beyond Christmas if the payment problem is not solved. We can’t pay contractors; most of the machines are packing up.”

Ogaji said the Nigerian Bulk Electricity Trading Company Plc should be blamed for the problem, saying, “As GENCOs, we don’t really have any direct relationship with DISCOs at the moment; GENCOs are meant to generate power and government brought NBET as a wholesaler, which takes all the power being generated by GENCOs and sells to the DISCOs. So the onus lies on NBET to collect the money from the DISCOs.

“The claim on whether DISCOs are remitting money or not should not be the problem of the GENCOs, but that of NBET. Government told us that NBET is properly capitalised and has enough money to meet all of the GENCOs’ payments. But unfortunately, NBET has not been able to do that.”

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http://punchng.com/total-blackout-imminent-gencos-discos-battle-n400bn-debt/

Mass Sack Imminent In NIPOST Over Reforms- Report

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A radical reform of the Nigerian Postal Service (NIPOST) in which many of its staff may lose their jobs will soon begin.
But the Minister of Communications, Adebayo Shittu, said that there would not BE any retrenchment in the NIPOST, “at least, for now”.

A top federal government official said in Abuja, yesterday, that the new Postal Master General (PMG), Asiwaju Bisi Adegbuyi, had been given directive to reduce, at least, 1000 workers from the agency’s workforce.
NIPOST has a workforce of about 10, 500 and 2, 500 post offices and postal agencies across the country.
The official, who pleaded anonymity because he was not cleared by his superiors to speak on the matter, said that staffers who had put in 30 years, or close to that, in service, and those working in inactive NIPOST post offices would be largely affected.
“We are looking at some of them who are already old and have put in up to 30 years, or close to that, and some of them who are at the offices which are inactive,” the source said.

“At least, a thousand of them may be affected for now, but government would pay them all their entitlement as they exit. It is a reform government must embark upon to bring NIPOST back to real business.”
However, Shittu denied that  the government would sack NIPOST staff, saying: “There is nothing like that, at least, for now”.
The minister, who spoke through his media aide, Victor Oluwadamilare, said: “We are not aware of that. Whoever told you may not be telling you the truth. A number of reforms will take place there but I don’t think the government is thinking of sacking any staff.”

Read More: dailytrust

Strike Imminent In 18 States Over Unpaid Salaries

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Imminent strike is said to be looming in 18 states following the inability of some state government to pay their workforce for some months.

The General Secretary of the Nigeria Labour Congress, Dr. Peter Ozo-Eson, said that the strike has started in Plateau State, adding that a similar exercise will begin in Cross River State and others on Monday.

The states owing salaries or pensions are Abia, Akwa Ibom, Bauchi, Benue, Cross River, Ekiti, Imo, Jigawa, Kano, Katsina, Kogi, Ogun, Ondo, Osun, Oyo, Plateau, Rivers and Zamfara states.

However, Adamawa, Anambra, Bayelsa, Borno, Delta, Edo, the FCT, Gombe, Kaduna, Kwara, Lagos, Nasarawa, Niger, Sokoto and Taraba are not indebted to their workers.

Read More: Punch