Debt, Drama and Diplomacy
NERC is begging FG for help as bills pile up, and we’d all like to join in.
As we navigate the wild world of Nigerian news today, we’ve got a mix of drama, fire and diplomacy to keep you entertained. It's been a week of high stakes and hot tempers, so just a little advice—if you’re cooking, don’t pull a Tejuosho and leave it unattended. Your wallet and your neighbours will thank you.
-Lolade
Word Count: 677
Reading time: ~3 mins
Let’s get into today’s edition:
The NERC cries out against international onigbeses
Full autonomy for Nigeria’s 774 local governments?
A fire in Tejuosho wooden market
Our government attempts to defend us against japada
The minimum wage saga continues
The Big Deal
The NERC cries out against international onigbeses
The Nigerian Electricity Regulatory Commission (NERC) is asking the federal government for help as the power sector faces rising debt despite low power supply. In the fourth quarter of 2023, our national electricity distribution companies (DisCos) and international customers failed to pay a total of ₦97.5 billion.
The DisCos owe ₦81 billion, while four international customers owe $12 million (₦16.5 billion). NERC highlighted this issue in their latest report and stressed the need for government intervention to address the non-payment problem.
Full autonomy for Nigeria’s 774 local governments?
The Supreme Court of Nigeria has told the 36 state governors to respond to a lawsuit from the Federal Government, calling for full autonomy for the 774 local governments from the state governments in the country.
The court also told the Attorney General of the Federation, Lateef Fagbemi, to reply within two days after receiving the governors' defences. This order, given by Justice Garba Lawal, was made due to the urgent nature of the case and because the state attorneys-general did not object.
A fire in Tejuosho wooden market
The fire broke out around noon yesterday at the Tejuosho canal in Lagos, affecting several wooden shanties used as shops and residences, and sparing lives but not livelihoods. Emergency responders, including the Lagos State Emergency Management Agency (LASEMA), quickly arrived at the scene.
LASEMA boss Olufemi Oke-Osanyintolu reported that no lives were lost and no injuries reported, although properties and goods were destroyed. The fire started in a room where someone left their cooking unattended, and it spread quickly to nearby wooden structures.
Our government attempts to defend us against japada
Speaking of heat, our government is headed to the UK to challenge the unjust deportation orders against Nigerian students at Teesside University.
A delegation from the Nigerian government will meet with Teesside University officials to address the order issued to some Nigerian students. The Nigerians in Diaspora Commission (NIDCOM) announced this after Nigerian students protested on May 22, claiming the university ordered them to leave the UK for allegedly defaulting on tuition payments. NIDCOM’s boss held a virtual meeting with some affected students and agreed that Ambassador Christian Okeke from the Nigerian High Commission in the UK would lead the delegation to resolve the issue.
The minimum wage saga continues
The national committee on the new minimum wage will meet again today. The Federal Government has invited Organised Labour for further negotiations. This will be the seventh meeting as they try to agree on a new minimum wage.
The last meeting was deadlocked when Organised Labour rejected the government's ₦60,000 offer. Labour unions have reduced their initial demand from ₦615,000 to ₦494,000. Previously, the government and private sector proposed ₦48,000 and ₦54,000, which the Labour unions rejected. The unions have set an ultimatum for May 31st to reach an agreement. The negotiations are starting to sound like a never-ending game of "how low can you go”. Fingers crossed they find common ground before the deadline.
The Big Picks
GITEX Africa, the continent’s biggest tech showcase is coming to Nigeria in 2025 as the CEO of GITEX organiser, Kaoun, signs an MoU to that effect.
The Solana blockchain welcomes $DAVIDO, but the party ends quickly as valuation dips by 90% in 24 hours.
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