The presidential election tribunal has dismissed the petition filed by the Peoples Democratic Party and its presidential candidate, Atiku Abubakar against President Buhari and the APC. In a judgement read by Garba Mohammed, the five-member tribunal ruled each of the five arguments by the PDP and Atiku against them. Mohammed said the petitioners failed to prove their petition beyond reasonable doubt and the petition “is hereby dismissed in its entirety.” The tribunal said, as part of its ruling, that Atiku and the PDP provided no evidence that the 2019 general election was not in compliance with the Electoral Act. Mohammed noted a number of allegations brought by the petitioners to back their claim of massive non-compliance to electoral guidelines across the country. Some of the issues raised include, none holding of elections in some polling units, cancellation of results, over-voting, inflation and deflation of votes among other things. The petitioners also alleged that no real voting took place in Dekina LGA in Kogi State, among others.
SCD Group, a Joint Venture consortium comprising Saipem, Daewoo and Chiyoda, has been announced the preferred bidder for the Nigerian Liquefied Natural Gas, NLNG, Train 7 project. Managing Director of the NLNG, Tony Attah, made the announcement Wednesday at the signing of the Letter of Intent for the NLNG Train 7 EPC contract. The SCD JV Consortium would be undertaking the Engineering, Procurement and Construction, EPC, project for the Train 7. Attah said the Letter of Intent is a percusor to the commencement of the project as the Final Investment Decision for the Train 7 would be signed by the end of October. The Train 7 project is expected to boost NLNG’s capacity from 22 million tonnes to 30 million tonnes, while it would boost Nigeria’s LPG production.
The federal executive council has approved an increase in the VAT rate from 5 percent to 7.2 percent. Speaking at the end of the cabinet meeting on Wednesday, the minister of finance, budget and national planning, Zainab Ahmed said that the increase is subject to an amendment of the VAT Act of 1994 by the National Assembly, and if it is approved by the federal lawmakers, will take effect in 2020. Ahmed said FEC has ordered immediate consultations with states, local governments and other relevant stakeholders before the new rate takes effect. This is important because the FG only retains 15 percent of the VAT while 85 percent is for the states and LGs as the states need additional revenue to be able to meet the obligations of the minimum wage. Following these assumptions, the total revenue estimate for 2020 has risen to ₦7.5 trillion for the year 2020.
The number of idle power plants in Nigeria rose to 10 on Monday after electricity generation in the country fell again below 3,000 megawatts. The most recent data from the Nigeria Electricity System Operator shows that the total power generation plunged to 2,866.1MW as of 0600 hours on Monday from 3,141.8MW on Sunday. Afam IV&V, Ibom Power IPP, AES IPP, ASCO IPP and the new six built plants under the National Integrated Power Project; Sapele, Alaoji, Olorunsogo, Omotosho, Ihovbor and Gbarain did not generate any megawatt of electricity. The system operator data showed that when total generation stood at 3,142.1MW as of 0600 hours last Friday, only four plants were idle. 21 of the country’s 27 power plants could not generate 3,072.1MW as of 6 am on Monday due to low load demand by the Discos (2,962.1MW) and line constraints (110MW). The stations were forced to either shut down some of their units or reduce their generation, worsening the blackout being experienced by millions of customers across the country. So far this year, the national grid has recorded nine total collapses, which four were in January and one each in February, April, May, June and August.