Business and Economy
Transcorp Ughelli Power Plant To Generate 900MW Of Electricity – Elumelu
Transcorp Consortium says Transcorp Ughelli Power Plant will soon begin to generate 900 Mega Watts (MW) of electricity.
The Group Chairman, Mr Tony Elumelu, made this known on Thursday in Abuja at the formal handover of the Afam Power Plc and Afam Three Fast Power Ltd. adsbygoogle || []).push({}); googlesyndication.com/pagead/js/adsbygoogle.js">
Elumelu said that when the company took over the Ughelli Power Plant output was about 150MW and in just over a year it moved to 600MW.
He said that investment in electricity was very important and assured that in a short time, the output from Afam power plant would be increased as was done at Ughelli.
“We just want to make sure that in a short period of time, we are able to ramp up the output from the plant, we have done it before at Ughelli and we will do it again.
“I commend the state government for making sure the asset is kept in good state and we are going to work as partners with the state government, the community and the Federal Government.
“This is so that we can make sure that we realise access to electricity and improvement that this country needs for us to create jobs and fight poverty.
“This is the only way we can develop Nigeria,” he said.
Responding, Okoh said that in line with the requirements of the request for proposal and approval granted by the National Council on Privatisation (NCP) Transcorp paid 25 per cent cash of the bid amount on Thursday.
He said this was a condition precedent to the current activity of handing over.
“I must add that my emphasis on cash payment is to correct some misinformation in the media that purported that the Afam deal is a mere reconciliation of figures between the Federal Government and Transcorp.
“For the benefit of those who wish to know, this idea was never accepted by both the NCP and its several sub-committees.
“However, with the payment of the money by Transcorp to the treasury today, we hope this unfounded and concocted information being fed to the public would stop.”
Okoh said that sequel to the previous failed attempt to privatise Afam Power Plc and the approval granted by NCP for the recommencement of a new process, the BPE started a free, fair and transparent competitive process of the privatisation of Afam Power Plc and Afam Three Fast Power Ltd.
He said this culminated in Transcorp Power Consortium emerging as the preferred bidder with a combined offer of N105.3 billion.
He said that after a series of negotiations that were impacted by the COVID-19 pandemic, the Federal Government through BPE signed the Share Sale Purchase Agreement (SSPA) with Transcorp Power Consortium on Nov. 5.
Okoh said that though change does not come easy, the reform in the power sector was a necessary tool for laying a solid foundation for sustainable electricity supply, loss and cost reduction as well as service efficiency.
He added that the privatisation of the sector was a key component of the reform and was one of the pre-conditions for the start-up of a competitive electricity market in Nigeria.
“It is also a sensible avenue to reduce dependence on the treasury for support to an otherwise economically viable power sector and channel government resources to other ventures.”
He however urged Transcorp Consortium to use its proven capacity and pedigree as demonstrated with Transcorp Ughelli Power Plant and Transcorp Hotel, Abuja to transform Afam Power into an exemplary utility company of reference.
Source: NAN
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Business and Economy
Nupe Natives Of Lokoja Flags Off Cooperative Union To Facilitate Development
From Joseph Amedu, Lokoja
Nupe Natives of Lokoja, has flagged off its CAMPDAVID MULTIPURPOSE COOPERATIVE UNION LIMITED registered with the Kogi State government, aimed at facilitating the development of the community of the native Nupe of Lokoja and her entire residents.
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Twelve other Cooperative Societies are registered to operate under the umbrella union which was launched in Lokoja over the weekend.
The Etsu Lokoja and Chairman, Lokoja Native Traditional Council, His Royal Highness, Emmanuel Akamisoko Dauda Shelika – Nyamkpa IV, performed the flag off ceremony during the first General Meeting of Nupe Natives of Lokoja in 2026, organized to showcase their culture and had interactions on how to attract development to their community.
The Royal Father in his speech, said that the Cooperative Union and its other sub-societies would no doubt facilitate people’s zeal to embark on self-help development that would impact on their living standards.
According to the traditional ruler “The newly registered cooperative societies would serve as veritable tools with which our people could utilize to generate funds to enable them embark on self-help projects such as drilling of motorized boreholes for portable water supply, rural electrification and health clinics amongst others.
“The need to complement government’s efforts in the provision of basic infrastructure for improved living conditions of citizens cannot be over emphasized, hence our desire as a people to do the needful”
The Etsu Lokoja used the occasion to call on the younger generation of the community to embrace skills acquisition of vocational enterprises such tailoring, welding, fabrication, carpentry, plumbing, hair dressing and farming among others for self-reliance.
He also disclosed his community’s planned programmes for this new year to include; facilitating of Summer Studies, Medical Outreaches for the less privileged, cultural and political summits.
He commended Governor Ahmed Usman Ododo of Kogi state for his passion to carry everybody along in his development programmes irrespective of political, ethnic and religious differences.
He reiterated the loyalty of his people to the present administration in Kogi state and assured that the tempo would be sustained.
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Business and Economy
Kogi To Domesticate New Nigeria’s Tax Act, 2025
From Joseph Amedu, Lokoja
The Kogi State Government has expressed readiness to domesticate the new Nigeria’s Tax Act 2025 for implementation by the State Internal Revenue Service (KGIRS).
The Special Adviser to Governor Ahmed Usman Ododo on Internal Revenue Generation, Nasir Rahman Ichanyi gave the hint while speaking at the second tranche of the critical stakeholders engagement on better understanding of the key provisions in the new tax law organised by the Kogi State Internal Revenue Service in Lokoja on Wednesday.
Ichanyi said that participants for the sensitization engagement were drawn from ministries, departments and agencies in view of their advantage position as technocrats that would play vital role in full implementation of the new tax law as from January, 2026.
He said that the sensitization programme is aimed at strengthening tax administration and promoting voluntary compliance to the new law.
The Special Adviser commended Governr Usman Ahmed Ododo for his visionary leadership and steadfast support in ensuring the effective domestication and implementation of progressive federal fiscal policies.
“His Excellency’s commitment to good governance and economic reforms continues to enhance fiscal discipline and sustainable development in the state”
He also praised the management and staff of KGIRS for their professionalism, dedication, and proactive engagement with stakeholders.
” This sensitization exercise reflects their resolve to ensure clarity, transparency, and inclusiveness in the implementation of the new tax framework.
“The 2025 Tax Acts, that will be domesticated by Kogi State, is distinguished by its simplicity, clarity, and taxpayer-friendly provisions
” It harmonizes tax obligations, removes incidences of multiple taxation, and provides clear guidelines that make compliance easier for taxpayers. The law also embraces technology-driven processes that improve efficiency, reduce human interference, and promote accountability.
“Furthermore, the domesticated tax Acts will offers significant benefits to taxpayers by reducing compliance costs, ensuring fairness and equity, and fostering a more predictable and business-friendly tax environment. Ultimately, it strengthens the trust between government and taxpayers and ensures that revenues generated translate into improved public services and infrastructural development across the state.
” I urge all MDAs and stakeholders to support the effective implementation of the 2025 Tax Acts that will be domesticated in Kogi State and to serve as ambassadors of compliance within their respective institutions. Together, we can build a robust and sustainable revenue system that will drive inclusive growth and development for Kogi State.
Earlier in his welcome address, the Executive Chairman of the Kogi State Internal Revenue Service, Alhaji Sule Salihu Enehe urged citizens to embrace the new Nigeria’s Tax Act in view of its enormous benefits.
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Business and Economy
KGIRS Sensitizes Stakeholders On Implementation Of New Nigeria Tax Act, 2025
From Joseph Amedu, Lokoja
As the new Nigeria’s Tax Act 2025, becomes operational come January, 2026, the Kogi State Internal Revenue Service (KGIRS) on Tuesday, commenced Stakeholders’ Engagement towards full implementation of the law.
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Speaking at the one day Sensitization Programme held at the Lugard House, Lokoja, the Executive Chairman of the KGIRS, Alhaji Sule Salihu Enehe, said that the commencement of the Nigeria’s Tax Act, January next year, is in line with the Federal Government’s tax reform policy aimed at boosting tax administration.
“The Stakeholders’ Engagement is targeted at ensuring better understanding of the Nigeria Tax Act ahead of its full implementation January next year”
He explained that the operation of multiple tax administration law was condensed into one now called “Nigeria Tax Act 2025” to enhance transparency and efficiency in the system.
He also explained that the new law was put in place to avoid the problem of double taxation and duplication in the system.
Alhaji Enehe therefore, urged taxable citizens and critical stakeholders in tax administration sector to embrace the new law in support of President Bola Ahmed Tinubu’s tax reform policy which he said would go a long way in stabilising the nation’s dwindling economy.
The Special Adviser to Governor Ahmed Usman Ododo on revenue generation, Dr. Nasir Rahman Ichanyi, in his speech, commended KGIRS for organising the Stakeholders’ Engagement Forum which has provided avenue for robust dialogue and collaboration for comprehensive understanding of the Nigeria Tax Act 2025.
He described the Stakeholders’ Engagement as timely and proactive measures put in place by KGIRS to achieve the desired success in the implementation of the new law.
Dr. Ichanyi promised that Kogi State Government would not relent in support of President Tinubu’s tax reform policy which he said would enhance the nation’s economy.
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