Business

Cross-border trading unethical, suppresses Nigerian market — NANTA boss

Published

7 months ago

October 1, 2025

For more than a year, Yinka Folami has steered the National Association of Nigerian Travel Agencies, a body of over 3,500 members, through some of the most challenging times in the downstream aviation sector. In this interview, the NANTA President speaks candidly about leadership, professionalism in travel agency practice, evolving industry policies, and the burning issues of cross-border trading, dollar sales, and their implications for Nigeria’s aviation landscape. OLASUNKANMI AKINLOTAN brings excerpts

you’ve led NANTA, an association with over 3,000 members, for more than a year now. What has the experience been like managing such a large body of industry players?

It’s been very interesting and, of course, challenging. But the important thing is that we are about 13 in council. The moment our administration came in, we decided to run a collective council. So, you find that there is a lot of delegation that goes on. We put our best foot forward. If we can do it, we better do it. So, it’s not as if I’m the only one leading. It’s the council that is leading. And the council also gets advisory support from the BO team. So, I believe that across both platforms, there is competence to lead the 3,500 members fairly.

Over two decades ago, you established your company. From a professional perspective, how would you assess the aviation sector since then?

Well, the aviation industry is evolving. So, basically, that’s what I would say. I would say that it is evolving. I would say that the pace could have been better, you know. But, obviously, the development of every sector is always a function of who leads that sector, or who is the head. If you place the current Minister of Aviation six years behind, maybe take him back to 2020 or 2018, somebody like this would have had major progress. So, if you backtrack the current minister to maybe six years before he came in, and if he was a person in charge of affairs, the aviation industry would have made so much more progress than we have at the moment.

That is not to say the previous ones did not have their own records and achievements. But the present one is very passionate, and he’s eager. So, he’s quick about a lot of things. One of the things that has saddled the aviation industry in Nigeria, particularly upstream aviation, we are in downstream because we are in sales; upstream is the airlines and their fleet and all of that, one of the things that has saddled the upstream aviation industry in Nigeria is the lease, the ban on Nigeria on leases of aircraft. You know, aircraft are very expensive. Most of these countries that thrive in aviation have access to lease agreements.

But, for a long time, Nigeria had been banned from getting access to particularly dry leases. So, what we have are wet leases, and wet leases are very expensive. What the aviation minister has done in the short while that Keyamo has been here is that Nigeria has been unbanned by many of these foreign players, such as South Africa, the Irish, and all of that. We are expecting that, obviously, local airlines will have better access to dry leases.

Another thing that I believe the government has to look at, and look into, is maybe access to funding. Funding aviation with a three-digit interest rate is difficult. What I would say is that we are evolving. But we are happy that we have the energy of the present leadership in aviation.

There’s a common perception that one can succeed in the travel agency and ticketing subsector with little or no experience. Would you say that’s true?

That’s not true. That’s absolutely not true, except you want to be a council and book anything. There are so many like this. You need the operations expertise, and you need the finance expertise. To run a successful travel agency, you have to be a competent professional manager. And when you say a ‘professional manager’, it’s somebody who spans everything. You have to be a finance person, you have to be a marketing person, and you have to be an operations person. We have doctors who have travel agencies now. We have lawyers and a lot of people who work for the bank at high levels. They own travel agencies now. You have to be a proper manager. And there are some specific operations, tickets, and reservation skills that you need to have. There are certification organisations like IATA and all of that, which are international. You have to acquire those skills. And they develop every time, because airline rules come up every day. So, you have to be educated to be able to follow up on them. And if you don’t follow up on them, one wrong command can set the ticket back. One wrong command can set the tickets back; one wrong command can lead to AGMs. So, it evolves.

And then, secondly, you have a situation where you also have new airlines coming in every day. You have to learn about their product. For every new airline that comes in, you have to learn about their product. You have to go for specific training. Now, let me tell you where, in downstream innovation, the travel agency is really the master, and where, professionally, it can be seen to be even more competent than an airline staff. A travel agent needs to understand how all the airlines that operate into his base operate. So, he has to be a master of Kellen, he has to be a master of Air France, he has to be a master of Virgin, he has to be a master of Delta, and he has to be a master of United. He has to understand all the rules and policies of every one of those airlines. Everyone! Because he is servicing his clients, and his clients can go on any of the airlines.

Say you are an operations professional and you are working in just one airline. Your responsibility is to understand the policies and rules of the airline. But my responsibility is to understand the policies and rules of over 30 international airlines that fly into Nigeria, and we’re not even talking about the domestic ones. So, it’s not only that you need to be competent.

You also need to have the skills and to continuously develop yourself. Everybody who works in this office, for example, is a graduate. I can tell you that, easily, out of the 3,500 members, if you take a dipstick, I can tell you that easily 60-70% of them will be university graduates. That is one of our young members.

So, that (travel agency business does not require expertise) is a fallacy. And that is part of the things we are trying to stamp out. We are in the process of setting up our training institute.

And we will partner with relevant government establishments and international establishments to make sure that we continue to drive that professional capacity development in our sector.

There’s a growing belief that Nigerians are avoiding US routes due to the stringent policies introduced by the American government. Do you share this view?

I knew you were going to come there. Anytime any pressmen want to see you, they must talk about visas or must talk about America. You see, I always try to make one thing clear. You see, visa issues and visa policies are government issues. So, it is a policy of the government. And it is a diplomatic thing. That’s why, a lot of times, in the diplomatic circle, you talk about reciprocity. So, the first thing we need to understand is that it is a government thing. And there is little or nothing you can do to press that government about their immigration policies. If they become more restricted, if access to their visa becomes more restricted, it will definitely shift the pattern of travel.

Because I can easily tell you, though we don’t have the data and statistics, and I don’t like to speak to data and statistics that I don’t have. But I’m very certain that the number of visits to the U.S., because of that visa restriction and policy access, would have been affected, and the numbers would have been reduced. Personally, it stopped me, it affected me, and it stopped me from renewal. Because I’m thinking that, because of my schedule, you can imagine how long we’ve been trying to schedule this interview, because I’ve not been in control of my schedule for maybe like two months. So, if I get a renewal of three months, what will it get me? So, I might get a renewal of three months, and before I’m ready to go, the thing expires. So, it’s a policy. Every government is informed about why they go into, you know, their policy regimes. So, definitely, it will have affected travel. If the trend continues, traffic to somewhere else will continue.

And lastly, I want to talk about visa. In NATA, we are very strong on Africa for Africa. And Africa is beginning to open up for Africa now. For example, the last time I went to Kenya, it was like coming back home. I just gave him my passport, and there were no questions. There were absolutely no questions. Within 10 seconds, I was out. They just took my passport and gave it back to me.

So, what I’m trying to say is that eventually the pattern of travel and traffic will go along the path of countries where people are welcome. That’s how it will go.

So, if this guy says that you are not welcome, go to where you are welcome. If you don’t welcome me into your house, and somebody else welcomes me into his house, I will gladly go to where I’m welcome. Because before I sit down, they will give me water to wash my hands and make food for me. That is how the vision will eventually go. And when we continue to open those paths, investments follow opportunities. When we see that there are more opportunities in Africa for African visitors, those routes too will open up.

You know, we are seeing some airlines coming into Nigeria, Tanzania Air, and all of that. Yes, albeit slowly. But the day or the time that Africa realises and completely starts to consume Africa, that Africa is consuming Africa, the opportunities for connectivity will open up, and investments will flow into them. So, let’s visit places where we are welcome. My own position now is that I will do more of African countries, because they are exciting and interesting places. And everywhere you go in Africa, Nigerians are welcome. Forget all these social media things. The social media things are not a reflection of their perception of us.

Because there is no African country that I have been to that they are not welcoming, either socially or professionally. They also want to hear us talk. And they are waiting on us.

Cross-border trading has increasingly dominated conversations in the industry, often described as a challenge to your profession. What steps has NANTA taken to address this, what results have you recorded, and how far along are you in this fight?

So, cross-border trading is a sin, and we keep saying it all the time for people who are willing to listen. It is a sin. It is a sin against a market that welcomes you. The way it operates is an agency sits in Nigeria. You are the customer of that agency that sits in Nigeria, and you want to go, say, to the UK, to London. Another agency, so this is a Nigerian agency, and it is a Nigerian customer. Another agency sits somewhere else in the world, maybe in Asia or in Congo. That agency has a better fare for your Lagos–London–Lagos tickets than the agency that sits in Nigeria. So, it is a deliberate suppression of the market. There are not two names to call it. It is a suppression of the market, and it is unnecessary. Okay, we can say, ‘Oh, is that not the problem of the airline and all of that?’ You know, the airlines have their pricing structures, but there are unethical practices. There are some unethical travel agency practices in there. So, you know, you have some global agencies. They are welcome everywhere. But what we are saying is that you shouldn’t use your global reach to suppress our market and undercut the market.

There is no point. You know, the world is becoming a global village. The world is a global village now. So, you are all welcome to practise. But practise and be ethical within your practice in our market. Why would you go and, because you are a global trader, why would you go and bring the fare that is available to you, right, in another station? You understand, we say they are a global practice. You bring the fare that is available to you in another market and come and take it to undercut our market. For what purpose does it serve? You want to get the share of our market? If you want to get the share of the market, then compete effectively. Compete ethically. Because what is happening is that those tickets that are sold unethically are not being recorded for this market. That is why Nigeria dropped to the third position on BSP. Nigeria used to be number one on BSP, a consistent number one. In the last one and a half years, Nigeria has been number three, a distant third behind Egypt. It is now South Africa, Egypt, and Nigeria. These are not things that will help the market to develop since the statistics do not count for us.

And secondly, it devalues everything we have in Nigeria. Let us start with the customer who gets the cheaper ticket. You know why they can sell an undercut is because it is cheaper for them, right? Services for tickets like that are restricted, and eventually the customer pays more if the customer runs into any trouble with change, because services in terms of change become difficult.

Because that ticket was sold from another clime, maybe he is asleep when the customer needs to do something in the course of the travel… So, we have had many cases. We have had many cases where customers have run into trouble if they have had to change or if they are not sure. Because service to certain tickets is restricted. There are police cases that come up because most of the time, those kinds of tickets are heavily restricted. So, that is a disservice to the consumer.

Then let us now talk about the travel agents. We have 3,500 members of NANTA. Some of our members are closing their shops. So, there is an unemployment issue. There is a serious unemployment issue there.

Then let us go to the GDS companies; we all know that, particularly in the multinational organisations, it is all about your numbers. The GDS companies that are operating locally in Nigeria are losing numbers. And these GDS companies employ Nigerians. When they are losing numbers, what eventually happens? They start to lay off. And this problem we are talking about would eventually hit the airline staff who are working locally for the airline. Because if your load factor is high, you know 40 per cent of the sales are not from your market.

Why would I need somebody at your level? And at best, you start to operate with just movie officers. The load factor is high, but 40 per cent of that load factor is not from the market, you know. To show you that it’s an absolute sin and to show you that some airlines that are responsive are listening to us, some airlines have adjusted their pricing structure and pricing policies to give priority to the point of commencement. It’s called POC. That is the point where that travel commences. And since your travel commences from Lagos. So, when pricing, the pricing is defaulted to give priority to the point of commencement. So, the points of commencement will have the better price. Or at least there is no other market that will have a better price than the points of commencement. Some airlines have done that. Because that is a fair thing to do. Otherwise, that practice will completely erode our market. And this problem is a general problem in Africa now, because we have gone to a few conferences in Africa. And when we talk about it, they always recognise that they are also facing the same situation, particularly Zimbabwe that is so upset by it. And they say that it is killing their market. And that they know that most of the tickets that are issued in their country are issued by another country that is much smaller than them. And that person from that smaller country is bigger on BSP. It’s a big, big problem in many countries. So, what we have now been doing is that we have been exchanging ideas. Sometimes, you know, we have meetings with associations of some countries. We have meetings.

In an African country, in a French West African country, there are five major unethical players. Major unethical travel agency global players that are under investigation for tax evasion and fraud. And we understand that their licences have been suspended, at least as far back as I know. It’s a suppression of the market that is unnecessary. Why would we allow our market to be suppressed? That is why we keep talking about it. Now, what achievements have we made so far? Look, if you listen very well, you’ll find that this government is responsive. This government listens. I know I initially made some comments about the Minister of Aviation. One thing you can’t take away from him is that he listens. He responds, and he always shows up when he’s available.

punch.ng

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

TUMBLR

INSTAGRAM

Post Views: 499

Business

NNPC April crude supplies to Dangote cross 1bn barrels

Published

13 hours ago

April 22, 2026

Newsbreak365_Admin

Crude oil supply from the Nigerian National Petroleum Company Limited’s trading arm surged in April 2026, with shipment records indicating that more than 1.03 million metric tonnes, equivalent to about 6.8 million barrels or over 1.08 billion litres, were delivered to the Dangote Oil and Gas Company Limited within the month.

An analysis of tanker vessel movements obtained by The PUNCH on Tuesday shows that the deliveries were executed through eight crude cargoes handled by NNPC Trading, reinforcing the state oil firm’s role as a major feedstock supplier to the 650,000 barrels-per-day Dangote refinery.

The shipments, sourced from key Nigerian crude streams including Anyala, Bonga, Odudu, Forcados, Qua Iboe, and Utapate, were routed through the refinery’s Single Point Mooring systems, SPM-C1 and SPM-C2.

The document shows that out of the eight cargoes, five have been fully discharged, while three others are still awaiting berthing or completion, indicating a steady pipeline of crude inflows into the refinery.

This development comes amid the refinery’s continued complaints of supply inadequacies, with a total requirement of 19 cargoes monthly, and a recent report that the country imported 55.39 million barrels in January and February 2026.

A breakdown of the deliveries showed that Sonangol Kalandula initiated the supply chain, delivering 123,000 metric tonnes of crude from Anyala. The vessel arrived on April 5, berthed on April 8, and sailed on April 9.

This was followed by Advantage Spring, which supplied 128,190 metric tonnes from Bonga, arriving on April 11 and completing discharge by April 13.

Similarly, a vessel code-named Barbarosa delivered 125,000 metric tonnes from Odudu, while Sonangol Njinga Mban transported 129,089 metric tonnes from Bonga.

Another completed shipment, handled by Nordic Tellus, brought in 139,066 metric tonnes from Forcados, completing discharge on April 17.

However, three additional cargoes remain in progress. Advantage Sun, carrying 142,327 metric tonnes from Bonga, has arrived but is yet to berth. Also pending are Advantage Spring from Utapate with 120,189 metric tonnes, and Sonangol Kalandula from Qua Iboe with 126,471 metric tonnes.

In total, the NNPC Trading cargoes account for 1,033,332 metric tonnes of crude, underscoring what industry analysts describe as a “strong and sustained supply commitment” to the Dangote refinery.

Further findings show that, beyond crude deliveries, the Dangote refinery also received multiple shipments of refined products and blending components from international markets during the period.

Among them, Seaways Lonsdale delivered 37,400 metric tonnes of blendstock gasoline from Immingham, United Kingdom, handled by Vitol, between April 18 and 19.

Another vessel, Augenstern, supplied 37,125 metric tonnes of Premium Motor Spirit from Lavera, France, discharging between April 8 and 9.

From Norway, Emma Grace brought in 37,496 metric tonnes of PMS from Mongstad, while LVM Aaron delivered 36,323 metric tonnes from Lome, Togo.

Similarly, Egret discharged 35,498 metric tonnes of naphtha from Rotterdam between April 16 and 18, providing critical feedstock for gasoline blending.

A pending shipment, Mont Blanc I, carrying 36,877 metric tonnes of blendstock gasoline from Antwerp, Belgium, is yet to berth, while Aesop is expected to deliver 130,000 metric tonnes of residue catalytic oil from Singapore later in April.

In addition to NNPC Trading volumes, other crude cargoes from international and domestic traders also supported refinery operations.

Notably, Yasa Hercules delivered 273,287 metric tonnes of crude from Corpus Christi, United States, while Front Orkla brought in 264,889 metric tonnes from Ingleside, US.

A major cargo, Navig8 Passion, supplied 496,330 metric tonnes of crude from Cameroon, highlighting regional supply integration.

Domestic contributions included Harmonic, which delivered nearly 993,240 barrels from Ugo Ocha, and Aura M, which supplied 1 million barrels from Escravos, alongside an additional 651,331 barrels of cargo from Anyala.

Operational data indicate that most vessels berthed within one to two days of arrival and departed shortly after discharge, suggesting improved efficiency at the refinery’s offshore terminals.

The Dangote refinery, located in Lekki, Lagos, is Africa’s largest single-train refinery, with a nameplate capacity of 650,000 barrels per day.

The facility is expected to significantly reduce Nigeria’s dependence on imported petroleum products by refining domestic crude and supplying petrol, diesel, aviation fuel, and other derivatives to the local market.

NNPC Limited, through its trading arm, has remained a central player in supplying crude to the refinery under evolving commercial arrangements, amid ongoing reforms in Nigeria’s downstream oil sector.

Earlier this month, Africa’s richest man and President of the Dangote Group, Aliko Dangote, revealed in a report by Bloomberg that the refinery received 10 cargoes of crude oil from the state-owned oil firm in March, compared to an average of about five cargoes monthly since late 2024.

Dangote said the shipments included six cargoes paid for in naira and four in dollars, under the crude supply arrangement between the refinery and the NNPC.

“Nigeria doubled crude supply to Dangote Refinery in March as Africa’s top oil producer moved to shore up fuel availability after the Iran war disrupted Middle East shipments. Last month, they gave us six cargoes with payments in naira and four cargoes with payments in dollars,” he stated.

Post Views: 33

Business

CBN, NCC to combat SIM-related fraud

Published

2 days ago

April 21, 2026

Newsbreak365_Admin

The Central Bank of Nigeria and the Nigerian Communications Commission on Monday signed a memorandum of understanding to tackle SIM-related fraud and strengthen consumer protection across Nigeria’s digital ecosystem.

The agreement, signed at the CBN headquarters in Abuja, aims to improve coordination between the financial and telecommunications sectors, focusing on combating electronic fraud linked to mobile numbers, enhancing payment system integrity, and protecting consumers.

Speaking at the event, the CBN Governor, Olayemi Cardoso, said the pact was a “practical statement of national interest”, noting that the increasing reliance on digital channels for payments and financial services required stronger collaboration between both regulators.

He said, “This MoU is not merely an administrative document; it is a practical statement of national interest,” adding that the agreement would reinforce the stability and integrity of Nigeria’s payment system while supporting innovation and consumer safety.

Cardoso explained that the deal would strengthen coordination on approvals, technical standards, and innovation trials, including sandbox testing, to ensure that financial services remain reliable and scalable.

He noted that the partnership would also improve the response to rising electronic fraud, stressing that “addressing these threats requires joined-up action, shared intelligence, clearer escalation paths, stronger operational readiness across regulated entities, and consistent public education”.

A key component of the agreement is the rollout of the Telecom Identity Risk Management Portal, a data-sharing platform designed to detect fraud linked to recycled, swapped, or blacklisted phone numbers.

According to Cardoso, the platform would enable real-time verification of mobile number status across banks and fintech firms, providing an additional layer of protection for consumers and the financial system.

He said strict compliance with data protection laws, including encryption and consent protocols, would guide the use of the platform.

Also speaking, the Executive Vice Chairman of the NCC, Aminu Maida, described the agreement as a major step in strengthening Nigeria’s digital economy.

He said, “The signing of this Memorandum of Understanding marks an important milestone in the regulatory stewardship of Nigeria’s digital economy,” adding that collaboration between both institutions was “not optional; it is imperative.”

Maida noted that the initiative would give financial institutions better visibility into the status of phone numbers used in transactions, including whether a line had been swapped, recycled, or flagged for fraudulent activity.

“This ensures that our financial services industry is better equipped with timely and relevant information to effectively combat e-fraud, particularly those perpetrated using phone numbers,” he said.

He added that the agreement would also improve consumer protection, assuring Nigerians that issues such as failed airtime recharges would be resolved more quickly under the new framework.

Earlier, the Director of Payment System Supervision at the CBN, Dr Rakiya Yusuf, said the partnership between both regulators had evolved over the years from separate oversight roles into a more integrated collaboration focused on securing Nigeria’s digital and financial systems.

She traced the relationship back to earlier efforts to align mobile payment regulations and telecom licensing frameworks, including the 2018 MoU that enabled telecom operators to participate in mobile money services through special purpose vehicles.

She also highlighted joint interventions such as the resolution of the USSD pricing dispute and the introduction of a N6.98 per session fee, as well as recent efforts to address failed transactions through a proposed 30-second refund framework.

Under the new agreement, two joint committees will be established to drive implementation. These include the Joint Committee on Payment Systems and Consumer Protection and the Joint Committee on the telecom risk management platform.

The agreement is expected to deepen digital financial inclusion, reduce fraud risks, and strengthen trust in Nigeria’s rapidly expanding digital economy.

The PUNCH earlier reported that the CBN and the NCC unveiled a joint framework to tackle the growing problem of failed airtime and data transactions, which have left consumers frustrated after payments are processed but service delivery is not provided.

The 20-page draft, published on the CBN’s website, was developed by the CBN’s Consumer Protection & Financial Inclusion Department and the telecom regulator, with input from banks, mobile operators, payment providers, and other stakeholders.

The regulators seek to clarify accountability, standardise complaint-resolution timelines, and create a coordinated system for addressing grievances across the financial and telecommunications sectors.

punch.ng

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Post Views: 43

Business

Electricity reforms: Rivers, Kano, 19 others delay takeover

Published

2 days ago

April 21, 2026

Newsbreak365_Admin

Twenty-one states, including Rivers and Kano, are yet to assume regulatory control of their electricity markets nearly three years after the enactment of the Electricity Act 2023, even as 15 states have already transitioned to independent market oversight.

The Nigerian Electricity Regulatory Commission disclosed that the states that have completed the transition have established their own electricity regulatory frameworks and are now responsible for market development, investment attraction, tariff oversight, and customer protection within their jurisdictions.

According to the commission, the shift follows the decentralisation provisions of the Electricity Act 2023, which empower subnational governments to regulate electricity generation, transmission and distribution within their territories after completing the necessary legal and administrative processes.

NERC noted that 15 states have so far completed the transition to state-level regulation. These include Enugu, Ekiti, Ondo, Imo, Oyo, Edo, Kogi, Lagos, Ogun, Niger, Plateau, Abia, Nasarawa, Anambra and Bayelsa.

However, the remaining 21 states yet to assume regulatory control are Adamawa, Akwa Ibom, Bauchi, Benue, Borno, Cross River, Delta, Ebonyi, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kwara, Osun, Rivers, Sokoto, Taraba, Yobe and Zamfara.

Industry analysts said the slow pace of transition in some states could delay the expected benefits of decentralisation, including improved power supply, localised tariff structures, and accelerated investments in embedded generation and mini-grid projects.

Under the new framework, once a state completes its transition, the state electricity regulator takes over licensing of intrastate electricity operations, enforcement of technical standards, tariff setting for local distribution, and protection of electricity consumers within the state.

NERC, in turn, retains oversight only on interstate and national grid-related activities.

The commission emphasised that state regulators are expected to drive local electricity market growth by encouraging private sector participation, promoting renewable energy deployment, and ensuring service quality standards for distribution companies operating within their jurisdictions.

The timeline released by the commission shows that the earliest transitions occurred in October 2024, when Enugu and Ekiti states assumed regulatory authority, followed by Ondo shortly after. The pace accelerated in 2025, with several states, including Oyo, Edo, Lagos and Ogun, completing their transitions. The most recent additions include Nasarawa, Anambra and Bayelsa between January and February 2026.

It was observed, however, that some of the 15 states have not set up their regulatory commissions.

Power sector stakeholders argue that states yet to transition risk missing opportunities to attract investments in off-grid electrification projects, particularly in underserved rural communities.

They also note that state-level regulation could help address longstanding distribution challenges by enabling more flexible tariff structures, targeted subsidies, and enforcement mechanisms tailored to local conditions.

With less than half of the states having completed the transition, many argued that the effectiveness of the Electricity Act reforms will largely depend on how quickly the remaining states establish their regulatory institutions and operational frameworks.

Apparently overwhelmed by the country’s power woes, the Federal Government recently pushed the challenge to the 36 states, asking them to take over power generation, transmission, and distribution.

The Federal Government said this was the only solution to the power crisis in the country.

The Minister of Power, Adebayo Adelabu, said at an energy summit in Lagos that the Electricity Act’s impact includes decentralisation and liberalisation.

“In a country as big as Nigeria, with almost a million square kilometres of landmass, over 200 million people, millions of businesses, thousands of institutions (health and educational institutions), 36 states plus the Federal Capital Territory, and 774 local governments—centralisation cannot work for us. The responsibility of providing stable electricity can never be left in the hands of the Federal Government.

“At the centre, you cannot, from Abuja, guarantee stable power across the country. So, this is one thing that the Act has achieved—decentralisation. That has now allowed all the states or the subnationals to play in all segments of the power sector value chain—generation, transmission, distribution, and even service industries supporting the power sector,” he stated.

He called on the remaining 21 states to set up their electricity market.

“I believe other states will follow suit in operationalising the autonomy granted, with full collaboration of the national regulator. We are working actively with these states to ensure strong alignment between the wholesale market and the retail market.

“In this regard, we believe the active involvement of the state governments, particularly in the off-grid segment, is critical, given the series of roundtable engagements held with governors by the Rural Electrification Agency, as well as ongoing efforts to closely track the distribution companies’ performances within their respective jurisdictions,” Adelabu emphasised.

punch.ng

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Post Views: 46