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11 Discos File Application For Electricity Tariff Review

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The Nigerian Electricity Regulatory Commission (NERC) says eleven electricity distribution companies (Disco) have filed an application for rate review with the commission.

A document released by the regulator on Friday titled: “Notice of Application for Rate Review By the Electricity Distribution Companies” said the request for rate review is premised on the need to incorporate changes in macroeconomic parameters and other factors affecting the quality of service, operations and sustainability of the companies.

“Pursuant to Section 116 (1) and 2(a&b) of the Electricity Act 2023 and other extant rules, the eleven (11) successor electricity distribution companies (“DisCos”) have filed an application for rate review with the Nigerian Electricity Regulatory Commission (“NERC” or the “Commission”).

“The request for rate review is premised on the need to incorporate changes in macroeconomic parameters and other factors affecting the quality of service, operations and sustainability of the companies,” the regulator said.

Accordingly, the commission invited the general public for comments on the rate review applications by the distribution licensees.

“Interested stakeholders are advised to review and take into consideration the excerpts of the Rate Review Applications filed with the Commission by the respective licensees. The applications can be accessed on the Commission’s website at www.nerc.gov.ng,” it said.

“As part of the rule-making process and in the exercise of the powers conferred by the Electricity Act, the Commission shall conduct a Rate Case Hearing on the applications prior to making a ruling.

“Any person wishing to participate in the proceedings as an intervenor should forward his/her application to tariff@nerc.gov.ng before the close of business on 20th July 2023.”

It listed the request to participate to include an explanation of the person’s interest in the proceeding and how the party would be affected by the outcome of the application; and a description of the party’s concerns, observations, comments and/or objections to the application.

 

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It said all members of the public and stakeholders are encouraged to send their comments or representations before the close of business on 20 July to the Chairman/CEO of the Nigerian Electricity Regulatory Commission

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Nigerians Owe CBN N261.07bn COVID-19 Loan

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Some Nigerians who benefited from the Central Bank of Nigeria (CBN) and NIRSAL Microfinance Bank’s targeted credit facility (TCF) have failed to pay N261.07bn out of N419.42bn given out.

According to Daily Trust, the facility was launched in April 2020 was to cushion the effects of the COVID-19 pandemic on households and SMEs.

In a document released by the CBN, it said the facility led to the creation of 1,585,872 direct and indirect jobs, contributing to Nigeria’s employment landscape.

It added that of the N419.42 billion disbursed, principal repayments amount to about N41.39 billion, with interest repayments standing at approximately N174.60 million.

 

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But there is a significant outstanding amount of roughly N378.03 billion, with an overdue amount of N261.07 billion, indicating that a large number of recipients have not kept up with their repayment schedules.

The document stated that each of the top beneficiaries of the loan get N2.5m for the purpose of SME finance but categorised as ‘non-performing’, indicating challenges or failures in repayment.

Only one, Centriculture Limited, has been noted as ‘performing’, with a repayment of N1m.

Some recommendations made in the document include to subsume the intervention under the Agri-Business/Small and Medium Enterprise Investment Scheme (AgSMEIS) for better management and outcomes.

Another recommendation is developing a clear exit strategy that aligns with the outstanding balance to aid in the smooth final closure of the scheme.

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NIN-SIM Linkage: NCC Insists On Axing Non-compliant Subscribers Today

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Barring any last-minute change of mind, all subscribers with four lines and above whose SIM registration data failed to match their National Identity Number, NIN, data, will be barred today.

This is as the Nigerian Communications Commission, NCC, has confirmed that it would not be reviewing its deadline to bar them today.

A reliable source from the commission revealed that the Commission’s position was premised on its objective to clean the country’s SIM ownership database and ensure that criminals do not take advantage of having multiple unlinked SIMs to carry out their nefarious activities.

The source said the commission’s management decided at a crucial meeting it held yesterday to review requests from the telcos for an extension of the verification of NINs submitted.

The source also stated that the Commission is mulling the idea of approving an online application solution for MNOs where their subscribers whose NIN verification failed due to biometric mismatch can update their records on the app while existing subscribers can register additional lines

The source said: “We are not standing back on our decision. March 29th is sacrosanct. Our resolve is hinged on the need to close in on the chaos of untoward ownership of multiple SIM cards with unverified NIN details.

 

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‘’We have instances where a single individual has over 10,000 lines linked to his NIN. In some cases, we have seen a single person with 1,000 lines, some 3,000 plus lines. What are they doing with these lines?

“From our interim findings, the owners of these lines did not purchase them for decent purposes or to undertake legitimate activities.

“We have given them enough time to make the decision of which of their lines they want to keep and discard the others. They did not. All lines in this category with unverified NINs will be barred. They will be then expected to go to their operators and decide which of the lines they want to keep, as well as submit correct NIN details.

“Some people would say they want to use it for car trackers, or IoTs, but provision has been made for these services already. They are not under the ‘Max-4 Rule.’

“Across the world, no country allows you to have 1,000 SIM cards to make calls or texts.”

The Max-4 Rule announced by the Federal Government in April 2021 provides that telecom subscribers cannot have more than four lines per mobile network operator.

The NCC has also provided Mobile Network Operators (MNOs) an extension till July 31st 2024 within which they are expected to verify all NINs submitted by subscribers with four (4) or fewer SIMs, as well as bar those whose NIN fail verification with NIMC.

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