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Press Release Marven Grey Nigeria Limited Addresses Fuel Scarcity Concerns: Staying Committed to Supporting Our People, Business, and Clients Jos, Nigeria – September 5, 2024 In light of the ongoing fuel scarcity affecting businesses and households across Nigeria, Marven Grey Nigeria Limited expresses deep concern over the disruptions to daily life and economic activities. The current crisis, stemming from significant supply chain disruptions and financial challenges faced by the Nigerian National Petroleum Corporation (NNPC), has created a difficult situation for many sectors, including our own operations and those of our clients. We recognize the toll that this shortage has taken on Nigerians, especially with rising fuel prices, extended waiting times at fuel stations, and the ripple effect on transportation and service costs. Our team is not immune to these challenges, as it affects our ability to serve our clients efficiently, particularly in areas such as technology infrastructure, network services, and on-site client support. However, we remain optimistic about overcoming these obstacles. Marven Grey Nigeria Limited is dedicated to finding innovative solutions to ensure that our services continue to meet the high standards our clients expect, despite the fuel supply difficulties. We are closely monitoring the developments from the NNPC and government efforts, particularly the ongoing measures to stabilize local fuel production, including the ramp-up of operations at the Dangote Refinery. This new development promises to relieve some of the pressure on fuel imports and strengthen the local supply chain in the coming months . While we face these challenges, our commitment to delivering top-tier services remains unwavering. We are actively implementing strategies to mitigate the impact on our operations, and we continue to work hand-in-hand with our partners to maintain the highest level of service delivery for our valued clients. We encourage our clients and the public to stay positive as efforts to resolve the fuel crisis progress. Marven Grey will continue to support our clients through these times, and we are confident that, together, we can navigate this period and emerge stronger. About Marven Grey Nigeria Limited Marven Grey Nigeria Limited is a leading IT and infrastructure consulting firm committed to providing innovative technology solutions to real-world challenges in Nigeria. Our services span cybersecurity, cloud solutions, compliance, and government IT infrastructure development, with a mission to drive technological growth across the country. Joshua Marven Co-Founder & Head of Infrastructure End of Release

#BusinessDigestWithDrEIS IMPACT OF PUBLIC POWER OUTAGES ON MSMEs IN NIGERIA Part-1 My heart bleeds like that of many Nigerians that we are in a 7⃣ days stretch of Public Power Outage which has taken its toll on personal and business lives. I have enjoyed uninterrupted public power supply in this Country between 1987 to 1989 and people who grew up in Ajaokuta Steel Company Limited, Kogi State can attest to this. Businesses have had to incur more cost in keeping afloat, families have had to run alternative power, mostly petrol or diesel powered generators to ensure they can be in Business. Commercial Banks, Hotels just name them have had their fair share. Is this the Nigeria we envisaged 30 years ago? In December 2014, a sitting Nigerian Governor blamed the Government at the centre, saying a serious Goverment will fix power issues in 6months, because he was in the opposition. As destiny will have it, in 2015, his party won election at the centre and he was made Minister of Power, he messed up woefully and shamefully too. For those of us in Jos, I think it is more painful that we have NESCO and no sufficient investment to ensure we all enjoy uninterrupted power supply. I can tell you as an industry player and watcher, the income margin for businesses will shrink this month due to high cost of running the business. As our population grows, one role of Government is to grow the Economy to cater for the increase in population, but not in Nigeria, our things are always different. REACT|COMMENT|SHARE ▪︎K.I.S.S Always! #iTrain #iTeach #iCoach #iMentor #iConsult #iFacilitate #iDoResearch Business Digest....your indispensable daily business companion. __________________________________ Yours-In-Entrepreneurship Dr. Emmanuel Idenyi Shaibu animn, ace, f.hcd, f.dss, m.frcn, fimc, cmc, cms, FAiPA, DPA, FCCFI, FCALM-UK The Millennium Entrepreneur! MakingAMarkGlobally

Independent Power Producers (IPPs) and the Need for Contract Renegotiation in Pakistan As a lawyer in Pakistan, I see an urgent need for Pakistan to renegotiate its contracts with Independent Power Producers (IPPs). While these agreements played a critical role in resolving energy shortages, the current financial strain on the government and consumers due to high capacity payments and unfavorable terms cannot be ignored. Renegotiating these contracts is vital for several reasons: 1. **Financial Sustainability**: The current structure places an unsustainable burden on the economy, contributing to rising circular debt. 2. **Public Interest**: Electricity prices have become a major issue for consumers, and it's essential to review contracts that negatively affect the public. 3. **Changing Energy Markets**: With new technologies and renewable energy options emerging, Pakistan needs to adapt to a new energy reality. 4. **Economic Sovereignty**: Reducing reliance on foreign currency-linked agreements will strengthen the country’s economic independence. It's time to prioritize transparency, fairness, and the long-term stability of the energy sector. By addressing these issues, Pakistan can move towards a more sustainable and equitable energy future. #EnergySector #PakistanEnergy #IPPRenegotiation #SustainableEnergy #EnergyLaw #ContractLaw #PublicInterest #FinancialSustainability #EconomicReform #EnergyCrisis #RenewableEnergy #Transparency #EnergyPolicy #CircularDebt #LegalInsights

Nigeria is a nation with a long history of perennial challenges of public power supply. The country seems to have unfortunately accepted the anomaly as part of its life. Since one came of age, the power sector bears the trademark of inefficiency. The problem of insufficient power supply has remained…

In Pakistan, Independent Power Producers (IPPs) are contributing to high electricity costs due to expensive capacity payments, exacerbating the country's circular debt crisis. These payments are made regardless of the power generated, placing a financial burden on the government and consumers. Additionally, many IPPs rely on imported fuel, further increasing costs and exposing the sector to global market volatility. The lack of transparency and favorable contracts for IPPs, along with regulatory challenges, have made it difficult to achieve a sustainable and affordable energy sector, trapping Pakistan in a cycle of debt and inefficiency. #Pakistan #IPPs #trap #fraud

The International Monetary Fund (IMF) has urged the federal government to fully eliminate subsidies for fuel and electricity, highlighting that these financial supports are not only expensive but also ineffective in benefiting the populations most in need of assistance. Although not explicitly mentioned, the underlying implication of removing these subsidies is a likely surge in the prices of electricity and fuel. This is because current subsidized rates are thought to be significantly below the actual market prices. By phasing out these subsidies, the government would allow fuel and electricity prices to align more closely with their true market value, potentially leading to increased costs for consumers. The institution stated this in its latest press release on Nigeria titled “IMF Executive Board Concludes Post Financing Assessment with Nigeria.” The bank also acknowledged the reforms currently embarked on by the current administration such as fuel subsidy removal and the unification of the exchange rate. Read more https://lnkd.in/dzj92_9R Follow Nairametrics for more news update #nairametrics #news #imf #fg #electricity #fuel

The Liberia Electricity Regulatory Commission (LERC) has been admitted into the membership of the African Forum of Utility Regulators (AFUR) following a rigorous admission process. The Chairman of the Board of Commissioners Dr. Lawerence D. Sekajipo described LERC’s membership into AFUR as another historical achievement in the short but progressive history of the Commission. Dr. Sekajipo said LERC as one of the nascent regulators on the African Continent will use its membership to learn and explore opportunities to enhance its electricity regulatory oversight in Liberia. The African Forum for Utility Regulators brings together regulators from across the continent to address regulatory matters spanning energy, telecommunications, transport, and water & sanitation industries, emphasizing cross-sectoral issues. Its goal is to cultivate cooperation among utility regulators across Africa, bolstering the continent's growth and socio-economic progress. At AFUR the best practices, regulatory experience, skills and guidelines are shared for the development of the appropriate regulatory frameworks to facilitate transactions, harmonize market structures, and oversee trans-border initiatives.

🗞 I hope you had a good day! Before you go to rest, let's wind down the day with some of the business and economic headlines from Ethiopia. 🏦 Ethiopia will maintain high interest rates for the remainder of the year to address transitory inflation resulting from recent changes to its foreign exchange policy, according to central bank Governor Mamo Mihretu. The key interest rate was set at 15% in July as part of a new monetary policy framework. (Bloomberg) 🛫 Ethiopian Airlines has announced the resumption of passenger services to Monrovia, Liberia, starting November 30, 2024, with three weekly flights to the capital. The flights will depart from Addis Ababa every Monday, Wednesday, and Saturday and the opposite direction will leave Monrovia every Tuesday, Thursday, and Sunday. 💰 In the first quarter of this fiscal year, Ethiopia's Grand Renaissance Dam project, Africa's largest hydroelectric dam, has secured over 271 million birr in funding. The dam, which reached the final stages of civil construction, launched its third and fourth turbines in July. For this fiscal year, the government aims to raise a total of 1.6 billion birr. (ENA) ⚖ The Federal High Court has ordered Abinet Gebremeskel to return 852 million birr to Mohammed Al-Amoudi, an Ethiopian-born Saudi tycoon. Abinet, who was Al-Amoudi's former representative, had disbursed 75 million birr to the Prosperity Party, 120 million birr for the Addis Ababa Social Fund, 5 million birr for the Federal Police, and 7 million birr for the Information Network Security Agency on Al-Amoudi’s behalf. The funds, which reportedly generated over 850 million birr in revenue from Al-Amoudi's stake in National Oil Ethiopia between 2011 and 2020, had been deposited into Abinet’s account. (Wazema) ⚡ In the past three months, Ethiopia Electric Power (EEP) announced it has generated $31.5 million from the export of 497.8 gigawatt-hours of electricity to neighboring countries, including Djibouti, Sudan, and Kenya. According to EEP, preparations are also underway to provide electricity to Tanzania and South Sudan. The EEP also said it’s selling power to three data mining companies that collectively use 145 megawatts of power. (FBC, EEP)

Nigeria’s economic Transformation! President Bola Ahmed Tinubu has initiated a bold step towards economic transformation with the signing of an Executive Order aimed at injecting a massive US$10bn investment into Nigeria’s oil and gas sector. This move is set to streamline contracting processes and bolster local content without compromising the sector’s competitiveness. The president’s vision is clear: To reduce government interference, enhance business competitiveness, and foster economic growth through innovation. With the support of the National Assembly, these reforms promise to swiftly benefit the nation, reinforcing the partnership between the executive and legislature. Read more: https://zurl.co/YZPb #Nigeria #EconomicTransformation #Investment #OilAndGas

I was chatting with a friend today about the power sector and he asked me why Nigeria may never get it right in this sector. I highlighted some points for him and solution to it; 1. Aging infrastructure: Nigeria's power infrastructure is old and in disrepair, leading to frequent failures and blackouts. 2. Corruption: Corruption is a pervasive problem in Nigeria's power sector, with bribery and cronyism hindering efforts to improve the grid. 3.Electricity theft: Many Nigerians illegally connect to the power grid, stealing electricity and causing significant losses for the utility companies. 4. Funding: Nigeria's power sector is underfunded, with inadequate investment in infrastructure and maintenance. 5. Gas shortages: Nigeria relies heavily on gas for power generation, but shortages and pipeline vandalism frequently disrupt supply. 6. Inadequate generation: Nigeria's power generation capacity is insufficient to meet demand, leading to frequent blackouts and brownouts. 7. Inefficient transmission: The transmission network is inefficient, with significant power losses occurring during transmission. 8. Metering: Many Nigerians do not have access to prepaid meters, leading to disputes over billing and payment. 9. Outdated technology: Nigeria's power sector relies on outdated technology, which is inefficient and prone to failure. 10. Rural electrification: Many rural areas lack access to electricity, hindering economic development and quality of life. 11. Sabotage: Vandalism and sabotage of power infrastructure are significant problems, causing frequent disruptions and blackouts. 12. Weak regulation: Regulation of the power sector is weak, allowing inefficiencies and corruption to persist. Some of the ways we can improve our sector includes but not limited to: 1. Investment in Infrastructure: Upgrading and expanding the power grid to reduce transmission losses and improve distribution efficiency. 2. Diversification of Energy Sources: Increasing reliance on renewable energy sources such as solar, wind, and hydroelectric power to supplement traditional fossil fuels. 3. Policy Reforms: Implementing policies that promote competition, transparency, and private sector participation to attract investment and improve efficiency. 4. Tariff Reforms: Adjusting electricity tariffs to reflect the true cost of production and distribution, while also ensuring affordability for consumers. 5. Community Engagement: Involving local communities in decision-making processes and promoting energy conservation and efficiency measures. 6. Regulatory Framework: Strengthening regulatory institutions to ensure compliance with standards, promote fair competition, and protect consumers' interests. #powersector #reformpower