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Navigating Challenges: TCN Takes Proactive Steps Amidst Criticisms

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In the past two years, the Transmission Company of Nigeria (TCN) has faced sustained criticisms from social circles, particularly on the complexities of providing consistent electricity across the nation. Efforts to counter these critiques include on-site media tours, showcasing the operational difficulties in terrains ranging from rough landscapes to insurgency-prone areas, emphasizing the struggle against vandalism, especially in hard-to-reach locations.

Managing the colossal responsibility of overseeing over 18,000km of high-voltage transmission lines, TCN grapples with maintaining infrastructures through disaster-prone zones. The necessity of non-conventional methods, such as “special procurement procedures,” is underscored to ensure effective monitoring of the vast network.

As TCN strives to keep the nation illuminated, policy makers face the challenge of balancing political considerations with the practicalities of managing such an extensive operation. The recent signing of a “Service Level Agreement” with distribution companies signals a commitment to zero tolerance for outages, streamlining emergency repairs without the delays associated with lengthy payment procedures.

The Procurement Act 2003, Section 43, recognizes the need for emergency procurement in the face of disasters or threats, highlighting the importance of swift actions to maintain vital structures. TCN’s responsible transmission of power from numerous generating companies to distribution companies and international customers requires meticulous decision-making, as seen in the recent incidents on December 21st and 28th, 2023, involving critical towers brought down by various factors.

Despite TCN’s efforts to clarify actions taken, social critics persistently challenge the institution’s reputation. The response to a media organization’s allegations showcases the delicate balance between addressing misinformation and avoiding unnecessary conflict. The ongoing debate surrounding a potential social media bill and the National Broadcasting Commission’s role reflects the broader struggle against unethical media practices.

In response to the recent attack by Sahara Reporters, TCN implements countermeasures, including a clinical examination of the accusations and a one-page advertorial to clarify its stance. The Managing Director’s planned appearance on Arise Morning Show aims to provide a transparent and clear perspective on the situation. An official tour for media, Sahara Reporters, and select Civil Society Organizations to witness firsthand the challenges faced by TCN is another step towards fostering understanding.

Collaboration with stakeholders like Mr. Fadipe and ongoing sensitization efforts to caution media outlets and CSOs against exacerbating the situation, reflect TCN’s commitment to maintaining focus amid external challenges.

Written by Ahmed Oyofo Sule, Media Consultant 

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Shehu Sani Criticizes World Bank Over Nigeria’s Economic Outlook

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Former Kaduna Central Senator Shehu Sani has criticized the World Bank for worsening Nigeria’s economic difficulties. In a post shared on X, Sani accused the institution of projecting that Nigeria’s hardship would extend for another 15 years before the country could reach a better economic future. He questioned how many Nigerians would be left to enjoy that future, and how many African nations the World Bank has successfully helped to prosperity.

Sani’s remarks follow the World Bank’s latest *Africa’s Pulse* report, which forecasts that the Nigerian Naira will be among the worst-performing currencies in Sub-Saharan Africa by August 2024. The report placed the Naira’s decline alongside that of the Ethiopian Birr and South Sudanese Pound.

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HIG: Building Trust and Driving Innovation in Nigeria’s Insurance Market

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Heirs Insurance Group (HIG) recently announced impressive financial results for the 2023 fiscal year, marking significant growth across all key metrics. The Group’s Gross Written Premium (GWP) surged by 59.3%, from N19.9 billion in 2022 to N31.7 billion in 2023. This remarkable performance underscores HIG’s resilience and operational efficiency, further solidifying its position as one of Nigeria’s fastest-growing insurance firms.

Heirs General Insurance (HGI) saw a 77% increase in GWP, reaching N12 billion in 2023. HGI’s profit before tax (PBT) also rose by 203%, reflecting the company’s effective cost management. Similarly, Heirs Life Assurance (HLA) reported a 71% GWP increase and a staggering 395% rise in PBT. Both companies have demonstrated a strong commitment to customer satisfaction, disbursing billions in claims.

Beyond financial success, HIG actively engages in corporate social responsibility (CSR) projects, contributing over N100 million to education, community development, and financial literacy. With plans for future expansion and innovation, HIG is poised to remain a key player in Nigeria’s evolving insurance market.

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Wike Urges Nigerians to Pay Taxes for Improved Social Services

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Federal Capital Territory (FCT) Minister, Nyesom Wike, has called on Nigerians to fulfill their tax obligations, emphasizing that government revenue is essential for delivering social services. Wike made this appeal during the inaugural Abuja Business and Investment Summit, held in Abuja on Wednesday.

Speaking on the summit’s theme, “Optimising Investment Through Partnerships,” Wike stressed the importance of collaboration to generate investment opportunities. He dismissed the misconception that the government does not need revenue, explaining that taxes are crucial for funding public services.

Wike reiterated that both investors and the government must benefit from such partnerships, ensuring that both parties “go home smiling” through a fair exchange of services and taxes.

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