The agency stressed that the new market-based pricing regime was still in force.

The newspaper also reports that Electricity generation companies on Sunday kicked against calls by the Senate for a reversal of the privatisation of the power sector.’

The Gencos also announced that the indebtedness of the power sector to electricity producers had risen to about N1tn since November 2013 when the industry was privatised.

Opposing the position of the Senate, the Gencos argued that reversing the privatisation of the sector was not the solution to the current abysmal status of the power industry.

ThisDay says that the planned establishment of the Ibom Deep Water Port (IDWP) has continued to gather steam as the Nigerian government is prepared to advance to the procurement phase of project.

Bollore/Power China had emerged the preferred bidder for IDWP, which will be delivered through a Public Private Partnership (PPP) arrangement, following a transparent bidding process held earlier.

The report added that conclusion of negotiations and due diligence are said to be ongoing with the preferred bidder.

The Sun newspaper reports that Nigeria’s Organised Labour movement at the weekend berated the latest plan by the Federal Government to pay N20,000 to unemployed youths for the maintenance of public infrastructure.

The Trade Union Congress of Nigeria (TUC), which voiced its opposition to what it considered a drain on the economy, said it would vehemently kick against the government’s plan to pay the said sum to unemployed youths for a period of three months, to maintain public and social infrastructure in the country.

The TUC President, Quadri Olaleye, described the move as another conduit pipe for politicians and their foot-soldiers.

“There is mindless looting of the nation’s treasury and the Federal Government appears to pat perpetrators of such illegality on the back.”