Thursday, March 28, 2024

Nigeria thrown into darkness as power grid collapses

Nigeria was thrown into darkness on Thursday afternoon following the collapse of the electricity grid controlled from Osogbo, Osun State, around 4:32 p.m.

A source in one of the distribution companies (DisCo) said the feeders for most DisCos nationwide were out of supply.

The development, the source added, has left virtually all franchise areas for DisCos across the 36 states in darkness.

According to the source, as of 4p.m, the grid output was 2984 megawatts. But by 5 p.m., the 21 plants on the grid had zero output.

In February, a grid collapse also left the nation in darkness.

A last check with the source when filing this report revealed that Azura was the only plant on the grid with an output capacity of about 54 megawatts.

Egbin, Afam, Geregu, Ibom Power, Jebba, Kainji, Odukpani, and Olorunsogo, among other plants, all had zero output.

In November 2013, the federal government privatised all generation and 11 distribution companies, with the FG retaining the ownership of the transmission company. This was to improve efficiency in the sector.

However, since privatisation, the grid has collapsed more than 140 times.

By Olawunmi Ojo, Premium Times

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Ending sexual abuse in IDP camps in Nigeria

Young women and girls living in Nigerian camps for internally displaced people (IDPs) say they have to deal with sexual harassment every day. Now they are calling for more protection from their host communities.

Having escaped attacks by violent criminals and armed gangs known as bandits in their villages, many displaced women and girls in Nigeria are now facing a new challenge.

Sexual harassment is rife in camps for internally displaced people (IDPs) across northern Nigeria — mostly when it comes to access to food or money.

With little protection, IDPs are also at risk of being kidnapped by bandits and jihadists.
What are IDPs fleeing from?

A bloody conflict between the army and jihadist groups, including Boko Haram, has been raging in Nigeria since 2009.

It is estimated that more than 40,000 people have been killed and 2.5 million more displaced — 80% of whom are women and children who live in government-registered or unregistered camps for IDPs.

Amina Rabo, who lives in an unofficial camp in the northern Nigerian city of Katsina, fled her village after it was attacked by bandits.

Since arriving there, Amina says she has suffered various forms of violence. Apart from sexual harassment, she also lives with the fear of being kidnapped.

"We experience different kinds of harassment from bad actors within our host community. Our rooms don't have doors, making it easy for the attackers," Amina told DW.

"They rape our girls in the night, and the older women are not spared either," Amina said, adding that that seeing her young daughters being assaulted every night has left her distraught.

Amina told DW that she had to marry off one of her daughters outside the camp. After the wedding, she said that several people tried to rape her.

A call for more protection

To prevent further sexual assaults on IDPs, Sani Barau, who works for a humanitarian agency, told DW that his organization is now working closely with the police to monitor the safety of displaced people.

"We call the police whenever we see suspicious people lurking around the camp or individuals trying to harass young girls," Barau said. "And indeed the police have carried out some arrests."

Despite plans to guarantee protection against sexual assault and possible kidnapping by resettling individuals currently sheltering in IDP camps — challenges remain.
 

Jihadists target women in IDP camps

Since the beginning of March, more than 100 people — mostly children and women — have gone missing after jihadists in conflict-torn northeastern Nigeria carried out a mass kidnapping that targeted mostly women from IDP camps, officials told AFP news agency.

Nigeria's northeast remains the heart of an insurgency that has left more than 40,000 people dead and 2 million displaced since 2009.

Several details about the attack on the IDP camp in rural Ngala are still unclear and officials have given conflicting accounts. The number of people reported missing does not necessarily reflect the number held in captivity.

The UN's Office for the Coordination of Humanitarian Affairs (OCHA) said the attack took place a week earlier than reported and estimated that over 200 people had been abducted from IDP camps.

The organization said armed attackers took the women while they were out collecting firewood.

"The United Nations strongly condemns the reported abduction of internally displaced persons (IDPs), many of them women, boys and girls," it said.
Kidnapping — a lucrative business

Kidnapping is a major problem across Nigeria, which is also grappling with criminal militias in the northwest and a flare-up of intercommunal violence in central states.

On March 7, more than 130 schoolchildren were kidnapped from a school in Kaduna but later freed after two weeks in captivity.

Arrests are rare as most victims are released only after ransom payments by their families or through deals that sometimes involve the release of gang members.

The government, however, does not admit to such deals.

Nigerian President Bola Ahmed Tinubu came to power last year promising to address insecurity in Nigeria, but critics say the violence is still out of control.

By Shehu Salmanu, DW

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Wednesday, March 27, 2024

Naira gains on spot market after central bank rate hike

Nigeria's naira rose to a five-week high against the dollar in intraday trading on Wednesday, a day after the central bank hiked interest rates to tame inflation and lifted restrictions on foreign investors participating in its fixed-income auctions.

The currency rose to 1,200 per dollar on the official market, LSEG data showed, strengthening above the parallel market levels at about 1,340.

Africa's largest economy has been grappling with dollar shortages that pushed its currency to a record low of 1,851 per dollar last month, though central bank Governor Olayemi Cardoso has said that dollar liquidity is improving.

Last week, Nigeria's central bank said it had cleared all of its verified foreign exchange backlog, part of its strategy to stabilise the naira and tame soaring inflation.

The central bank on Tuesday raised its monetary policy rate 200 basis points to 24.75% from 22.75%, a month after its largest hike in around 17 years.

The central bank paid 26.6% for the one-year Treasury bill at its last auction two weeks ago, but investors at Wednesday's auction expect yields to rise above secondary market quotes of around 22.75% for the one-year bill and around 20.6% for the benchmark 10-year note.

Goldman Sachs analysts Andrew Matheny and Bojosi Morule said the central bank's further rate hike and "the emphasis on improving monetary transmission mechanism by mopping up liquidity will help to rebuild policy credibility", boosting Treasury bill yields to about 28% to 29%.

In the past, lenders faced constraints in fulfilling foreign investors' bids as they incurred extra costs on settlement day if they borrowed from the central bank's discount window to pay for bills.

Foreign investors can now pre-fund their accounts and get naira at the prevailing exchange rate for the auctions, analysts said.

"With this policy mix and with more inflows likely, including a Eurobond, we remain constructive on the naira, with our forex strategists forecasting an appreciation to 1,200 versus the dollar over the next 12 months," Matheny and Morule wrote in a research note to clients on Wednesday.

The central bank hopes the auctions can attract sufficient foreign interest to boost dollar liquidity.
Tellimer economist Patrick Curran said that "while forex liquidity has improved, it is still well below pre-pandemic levels and a boost in dollar supply will be needed to support further naira appreciation." 

By Chijioke Ohuocha and Elisha Bala-Gbogbo, Reuters

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