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Power generation falls 23% to 3,172MW

Power supply in Nigeria has failed to improve on last week’s performance, as at fell by 22.9 percent from peak generation of 4,115 Mega Watts on Saturday to 3,172.20MW as at 5 pm on Sunday, latest data from the System Operator has shown.

According to the data, most power plants were operating far below capacity due to gas shortage with Olorunsogo power plant, 335MW capacity, and Sapele power plant, 450MW capacity, completely out. Egbin was generating at 746MW, Omoku 37.20, Omotosho (NIPP) at 105MW while Afam was generating at 80MW.

Our $350m bond three times oversubscribed — Ecobank

Ecobank Transnational Incorporated, the parent company of the Ecobank Group, says it has successfully raised $350m Tier 2 Sustainability Notes.

ETI said in a statement on Friday that the bond was more than three times oversubscribed by investors.

“This represents the first-ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa,” it said.

According to the statement, the Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and will be listed on the main market of the London Stock Exchange.

95% of donor blood units used in Nigeria ‘unsafe’- experts warn

Ahead of the World Blood Donor Day (WBDD) today, June 14, the World Health Organisation (WHO), Nigerian Medical Association (NMA) and National Association of Resident Doctors (NARD) have warned that 95 per cent of donor blood units used yearly in the country are unsafe, as it could be infected with Human Immuno-deficiency Virus (HIV) 1 and 2, syphilis, hepatitis B, hepatitis C and other deadly infectious diseases.

Read Also: Headline inflation in May expected to hit 18.20%

They said Nigeria needs two million units of safe blood yearly but produces only 25,000 even as only five per cent of donor blood used in Nigeria come from voluntary donors.

According to them, family replacement and paid donors are still major sources of donor blood procurement, even as poor infrastructure, inadequate manpower, underfunding and inadequate regulation mar provision of safe blood in the country.

Of this number, the Executive Secretary of the Lagos State Blood Transfusion Service (LSBTS), Dr. Bodunrin Osikomaiya, said Lagos will require over 260,000 units of blood to meet the growing demand for blood transfusion.

The medical experts in recommendations made on how to improve funding and regulation of blood transfusion services in the country, urge President Muhammadu Buhari to assent to the National Blood Service Commission Bill, which was recently passed by the National Assembly.

2023: Tinubu’s posters flood Abuja

Posters of the national leader of the ruling All Progressives Congress APC, Asiwaju Bola Ahmed Tinubu, have flooded parts of the nation’s capital, Abuja even as Nigerians continue to bask in the euphoria of democracy day celebrations.

The posters which carried Tinubu’s bold picture and name surfaced on Sunday and were strategically posted on public infrastructures like traffic kiosks, bus stops in Garki, Central Area, Maitama, Wuse 11 around APC national secretariat and Shehu Shagari way opposite Ministry of Justice in the FCT.

EKO Hospital targets quality healthcare with approval of 110m shares

To ensure delivery of adequate healthcare services, EkoCorp Plc owner of Eko Hospitals last week approved the proposal to sell 110, 000,000 ordinary shares to Geoff Ohen Limited.

The resolution was reached through an electronic voting poll by the Board members and some shareholders during the company’s court-ordered Extraordinary General Meeting, EGM, in Lagos.

At the end of the exercise attended by the representatives of regulatory bodies such as the Nigerian Stock Exchange, Security & Exchange Commission, SEC and 79.34 percent voted in favour of the proposal to sell 110, 000,000 ordinary shares of the company to Geoff Ohen Limited while 20.66 percent was against the proposal.

However, some aggrieved shareholders of the company staged a peaceful protest at the venue, claiming they were disenfranchised. Speaking, the company’s Acting Board Chairman, Prof. Joe Irukwu, regretted that the company recently experienced cash flow challenges which forced them to source for equity investment from investors and approached Dr. Geoff Ohen of Geoff Ohen Ltd to invest in EKOCORP.

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