Ending petrol subsidy extremely difficult but FG has no other option - MOMAN

Olumide Adeosun, Chairman, MOMAN

The Major Oil Marketers Association of Nigeria (MOMAN) says ending subsidy on Premium Motor Spirit (PMS) is extremely difficult but the Federal Government has no other option in light of current economic realities.

MOMAN also called for massive investment by the government in various sectors such as mass transportation, healthcare and education to successfully wean off Nigerians from petrol subsidy.

Mr Olumide Adeosun, Chairman, MOMAN, made this known during a panel session at the just concluded

Association of Energy Correspondents of Nigeria (NAEC) Strategic International Conference which held on Thursday in Lagos.

He spoke on the topic: " Energy Transition, PIA, Petroleum Pricing and the Way Forward for the Downstream Sector."

 Represented by Mr Clement Isong, Chief Executive Officer, MOMAN, Adeosun said it would remain extremely difficult to wean Nigerians off cheap PMS, also known as petrol.

He said: " It is something that must be done as there are no more viable options. 

"We are told that this year the subsidy bill to the Federal Government may be between N5 trillion and N6 trillion. Clearly, Nigeria cannot afford this. 

"To wean Nigeria off this subsidy, a lot of investment must be done to sensitise Nigerians in convincing them and finding alternatives. 

"We need to begin to remove the subsidy and mitigate the pains Nigerians will feel when petroleum prices begin to manifest their true value."

Adeosun said marketers were optimistic that the industry was headed in the right direction with the enactment of the Petroleum Industry Act ( PIA) 2021 which was an excellent piece of legislation.

"We are now at the point of implementation, which is taking a bit longer than hoped but this is not necessarily a bad thing. 

"The President postponed the implementation of free market pricing, which has caused a slowdown with respect to benefits expected from free competitive open market pricing, such as new investments and subsidy removal, " he said.

The MOMAN chairman said the marketers were also very convinced that gas (the decade of gas was declared by the Federal Government in January 2021) was clearly the way forward.

He said however, the increase in gas prices worldwide and the unavailability of the product had made it a little more difficult in the roll out. 

Adeosun said: "The ordinary Nigerian who was meant to transit to gas not just for cooking but also for powering automobiles and power generation is struggling and because PMS pricing is yet to be fully deregulated.

" It creates an aberration and additional challenge for the adoption of gas, as most people are still dependent on cheap PMS for their cars and generators."

According to him, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has an important role to play in guiding our future, the best regulator ultimately is the market. 

"The market regulates prices if you are too expensive people would not buy from you. The market regulates quality as well as customer service. The market also rewards the best in class.

"We need to move to an era of transparency and information dissemination. 

"Energy correspondents need to share as much information as possible with the market and public with respect to cost prices, quality, product specifications, customer service and pump prices. 

"That is the best regulation you can ask for," Adeosun said.

Following these remarks, a few panelists present alluded to the point that Nigerians mostly agree with price deregulation. 

They, however noted that the government must cut its costs to reflect present economic realities and adjust just like ordinary Nigerians who are feeling the pinch. 

They said the government could not be seen as spending ostentatiously whilst asking ordinary Nigerians to tighten their belts which drew large agreement from panelists and participants alike.

  

Modular data centres, storage management key to data explosion – Schneider Electric

By Solomon Asowata 

Global energy giant, Schneider Electric, has identified modular data centres, micro data centres and better storage management as key elements to handle future data explosion and achieve sustainability.

Natalya Makarochkina, Senior Vice-President, Secure Power Division, International Operations, Schneider Electric, made this known in a statement posted on the company’s website on Friday.

Makarochkina said the demand for data would continue to increase, adding that Schneider Electric had been committed to a sustainable business for decades.

She said: “Global data production went from estimates of two zettabytes in 2010 to 41 zettabytes in 2019.

“International Data Center (IDC) estimates global data load will rise to a staggering 175 zettabytes by 2025.

“The development of data centre infrastructure management (DCIM) systems has continued apace, allowing the integration of Artificial Intelligence (AI) to take advantage of hardware and infrastructure developments.”

She noted that data explosion was expected to continue to increase with developments such as industrial Internet of Things (IoT), 5G and with increasing general automation and autonomous vehicles as driving factors.

According to her, the data that will be generated, far from the centralised data infrastructure, must be handled, processed and turned into intelligence quickly, where it is needed.

Makarochkina said new data architectures were expected to improve efficiency in how all of that is handled, adding that edge computing is seen as an important approach to manage more data being generated at the edge.

She said for Schneider Electric, this had meant a renewed focus on efficiency in all aspects of design and operation.

“Gains have been made in efficiency in power and cooling, with UPS systems and modular power supplies showing significant gains with each generation, culminating in the likes of the current Galaxy VL line.

“This line’s use of lithium-ion batteries has not only increased efficiency, it has extended operational life and reduced environmental impact in reducing raw materials.

It has facilitated “energised swapping where the addition and/or replacement of power modules can be performed with zero downtime while increasing protection to operators and service personnel,” she said.

Makarochkina, however, explained that efficiency must extend through not just the supply chain, but also throughout lifecycles.

She said vendors, suppliers, and partners must all be engaged to ensure that no part of the ecosystem lags in applying the tools to ensure efficiency.

“This applies as much in the design time of new equipment and applications as it does through working life and decommissioning,” she added. (NAN) 

Ikeja Electric reiterates commitment to metering as 140 graduate from Metering Academy

L-R: Managing Director, Energy Training Centre (ETC), Mrs Ibiene Okeleke; IE Energy Sales Representatives /one of the graduands of IE Metering Academy, Mr Akingbade Adeniyi; Chief Financial Officer (CFO), Ikeja Electric, Mrs Sequinat Akinwunmi and Director-General, National Power Training Institute of Nigeria (NAPTIN), Mr Bolaji Nagode during the presentation of certificates to IE Metering Academy graduands on Thursday  in Lagos.

Ikeja Electric reiterates commitment to metering as 140 graduate from Metering Academy

Ikeja, Aug.4,2022 (NAN) Ikeja Electric Plc (IE), Nigeria’s leading electricity distribution company, has trained 140 employees to boost metering density and meter management across its network.

Speaking during the presentation of certificates to the graduands, the Chief Executive Officer, Ikeja Electric, Folake Soetan, said Ikeja Electric Metering Academy was launched in 2020 as a result of shortage in human capacity for the installation of meters, resulting in slow pace of metering across its network. 

The CEO who was represented by Chief Financial Officer (CFO), Ikeja Electric, Mrs Sequinat Akinwunmi, said the training was done in collaboration with the National Power Training Institute of Nigeria (NAPTIN) and the Energy Training Centre (ETC).

According to her, the young graduands were selected across Ikeja Electric’s six Business Units - Akowonjo, Shomolu, Abule-Egba, Ikeja, Oshodi and Ikorodu.

 Akinwunmi said the essence of the training was to bridge the metering gap in the industry which aligns with the vision of Ikeja Electric, as well as the Federal Government's National Mass Metering Programme (NMMP). 

“The programme will also equip staff to carry out the functions including meter installation, identifying faults and also rectifying the faults. This will in turn improve service delivery, ensure customer satisfaction, and also grow revenue,” she added.

“This programme is very important to us. That is why we have put in a lot of resources and time, and also partnered with NAPTIN and ETC to close up this skill gap in the industry," Akinwunmi further explained. 

While congratulating the graduating students, she tasked them to be worthy ambassadors of Ikeja Electric and adhere to safety standards which is one of the DisCo's core values.

The Managing Director, Energy Training Centre, Mrs Ibiene Okeleke said: “Ikeja Electric had invested heavily in the Metering Academy. 

They partnered with Energy Training Centre (ETC) to ensure the 140 candidates were trained by the Metering Academy, across three batches.

According to her, “The Energy Training Centre had signed a partnership with NAPTIN, which is the sector’s regulated training centre that works with Nigerian Electricity Regulatory Commission (NERC).

 So, NAPTIN was acting as the certifying body, and as such, they ensured that the programme followed the curriculum and the right content, and there is quality assurance as well. 

And so NAPTIN did not just play this role in certifying, they ensured that the faculty maintained high standard.”

She commended Ikeja Electric for investing massively in such a laudable programme, while noting that the initiative shows the commitment of the company to get people who have the desire to do things the right way.

 She added, “It was also important for us to reflect on the opportunities to increase the revenue of IE through meter data management, optimization of operations and other initiatives.”

The Director-General, NAPTIN, Mr Bolaji Nagode, explained that the institute was saddled with the responsibility to build human capacity and to coordinate training in the power sector. 

He said the training would also help to shore up the DisCo's revenue collection and improve customer satisfaction, apart from increasing the level of efficiency of the graduands.

Speaking on behalf of the graduating students, Mr Akingbade Adeniyi, Mr Tomilayo Oluborode and Ms Gloria Gomina, thanked Ikeja Electric for facilitating the training. 

According to them, they have been equipped on how to install meters, identify meter bypass and meter management among other things which would improve their job performances going forward.(NAN)