Nigeria has once again been thrown into darkness following another collapse of the national electricity grid on Wednesday, December 11, 2024. This marks the 12th grid failure this year, exacerbating the long-standing issues within the nation’s power sector. The national grid’s official account on X (formerly Twitter) confirmed the incident, reporting that the collapse occurred at approximately 2:06 PM. “The major grid setback has occurred, and the restoration is to commence,” the post read. As of 2:00 PM, the Independent System Operator (ISO), a subsidiary of the Transmission Company of Nigeria (TCN), reported that no power generation plants connected to the grid were operational. This resulted in nationwide blackouts, with electricity distribution companies across Nigeria’s 36 states experiencing inactive feeders. Jos Electricity Distribution Company (Jos Disco) also confirmed the situation, stating, “The current outage being experienced across our franchise states is due to the loss of power supply from the national grid at about 1:33 PM on Wednesday.” This collapse highlights the ongoing challenges faced by Nigeria’s electricity sector, which continues to struggle despite privatisation efforts intended to improve its reliability and efficiency. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel. Tags: Nyesom Wike good govern
According to information released by Dangote Refinery, the price of its fuel is N960 per liter for ships and N990 per liter for trucks. The declaration comes after the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and the Independent Petroleum Marketers Association of Nigeria (IPMAN) asserted that they could import petroleum at lower prices than Dangote. The marketers said in a previous interview that they were purchasing fuel from overseas at a lower cost and urged Dangote Refinery to work with stakeholders. The refinery countered that the only products that could be purchased at a cheaper cost than its own were inferior ones. Dangote Refinery said in a statement released Sunday evening by Anthony Chiejina, the Group Chief Branding and Communications Officer, that it lowered its prices for selling onto ships while adhering to the Nigerian National Petroleum Company Limited’s (NNPCL) pricing benchmark. According to the text, “Both organizations assert that they are able to import PMS at a lower cost than what the Dangote Refinery is selling.” We compare our prices to those of other countries, and we think our rates are reasonable when compared to import costs. “Anyone who says they can get PMS for less than what we are selling is bringing in inferior goods and working with foreign dealers to bring in subpar goods without thinking about the health of Nigerians or the durability of their cars. Regulator NMDPRA regrettably lacks even laboratory facilities, which can be used to identify inferior goods that are brought into the nation. By offering PMS to domestic marketers at N971 per litre for sale into ships and N990 for sale into trucks, NNPC set the standard after deregulation. Our pricing was established by this, and we have since lowered it to N960 per litre for sale to ships and N990 per litre for sale to trucks. “We started selling at these rates in good faith and for the sake of the nation, even though we weren’t sure what exchange rate we would use to pay for the oil we bought. Simultaneously, a foreign trading company recently rented a depot facility adjacent to the Dangote Refinery for its purpose. to combine inferior goods that would be sold in order to compete with the superior output of Dangote Refinery. “This is harmful to Nigeria’s local refining industry’s expansion. We should note that nations frequently defend their home sectors in order to create jobs and boost their economies. For instance, in order to safeguard their home sectors, the US and Europe have been forced to slap high tariffs on microchips and EVs. READ ALSO: Atiku outlines the policies he would have implemented differently if he had been president: $10 billion for MSMEs and the progressive elimination of subsidies. We urge the public to ignore the purposeful misinformation being spread by those who would rather that we keep exporting jobs and importing poverty, even as we remain committed to offering reasonably priced, high-quality, domestically processed petroleum products in Nigeria.
