NIPP to boost power supply to national grid

Vice President Namadi Sambo has revealed that most power plants belonging to the National Integrated Power Project (NIPP) have been completed and would be commissioned in 2013.

Speaking in a special meeting on gas supply to power plants on Friday in the State House  Abuja , Architect Sambo directed that all problems that may hinder the delivery of power especially gas supply should be addressed forthwith.

On the issue with the power plant at Sapele, which was the subject of the meeting, it was noted that the early gas system was delivering gas to the power plant but some issues needed to be solved.

The issues were intermittent high influx of condensation; unsatisfactory operation of the heater in service, which is currently not in service; the cooling effect and capacity limitation to 90mmscf/d to orifice plate and other factors.

The Vice President directed the experts handling the Sapele project to be in a meeting next week to discuss the solutions to the problems.  The experts have designed a mechanism to arrest these issues.

Architect Sambo noted that he expects that he will be adequately briefed in the meeting on gas infrastructure, financing and securitisation and resolution on all issues including financial implications.

He noted that the Gas Aggregator should sign another 60mmscf to meet up the required amount of gas needed for the plant.

Earlier, the Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, said the World Bank is waiting for Nigeria to access the $600 million facility, which she  said would  assist in fixing some of the problems in the power sector.

She assured that there is nothing wrong in getting the facility.

FG approves N34 billion for accrued pension payment

The federal government has approved the sum of N34 billion for the payment of accrued retirees’ entitlement.

The elderly on a queue for their deserved life long toil

This was made known by the National Pensions Commission (PENCOM)on Friday.

According to PENCOM, the payment is for those who have registered with the Pension Fund Administrators, under the Contributory Pension Scheme.

According to PENCOM, the approval was given by the Minister of Finance and Coordinating Minister for the economy, Dr.Ngozi Okonjo-Iweala, following the submission of the National Pensions Commission to the Senate.

It would be recalled that the Senate, earlier in the year investigated the allegations of fraud in the pensions industry.