30 results
- 29 Nov 2024
Electricity Subsidy Soars to ₦2.4 Trillion Despite Tariff Reforms
Federal Government’s electricity subsidy has surged by 269%, rising from ₦650 billion in 2023 to an estimated ₦2.4 trillion in 2024. This increase comes despite the implementation of the Band A…
- 17 Nov 2009
BPE to Ensure Effective Power Reform
Bureau of Public Enterprises (BPE) has pledged its determination at ensuring an effective electric power reform for Nigeria. Christopher Anyanwu, director general of the bureau who stated this at the…
- 25 Apr 2025
Lagos Sets the Benchmark in Renewable Energy as CADEF Launches Transformative Platform
Against the backdrop of Lagos State's proactive efforts to reform its electricity sector, the Consumer Advocacy and Empowerment Foundation (CADEF) has launched its ‘Renew Energy Nigeria’ platform, a…
- 27 Jan 2019
Estimated Bill to Attract 1 Year Jail Term, N1m Fine
Electricity Power Reform Act (Amendment) Bill 2018 passed by the House of Representatives last Tuesday prohibiting and criminalising estimated billing has proposed a one-year jail term and a fine of…
- 3 Sept 2014
NERC, EMS Differ over Certification of Power Sector
The Nigerian Electricity Regulatory Commission (NERC) and Electric Management Services Limited are heading to a battle for supremacy over who has the final authority and mandate to do other technical…
- 31 Jul 2026
FG to Phase out Power Subsidies from 2027, Rules out Immediate Tariff Hike
Federal Government says it will begin the gradual phase-out of electricity subsidies from 2027 as part of ongoing reforms aimed at improving the sustainability of Nigeria's power sector. The Minister…
- 16 Dec 2024
FEC Approves 161.3m Euros for Phase 1 Siemens Power Project
Federal Executive Council (FEC), meeting presided over by President Bola Tinubu on Monday approved the sum of 161,328,228 euros for the execution of contracts in the first batch of the Phase 1 of the…
- 12 May 2026
FG Seeks Fresh $1.25Bn Loan from World Bank to Create Jobs, Others
Federal government is in discussions with the World Bank over a proposed $1.25 billion loan facility aimed at supporting economic reforms, job creation, and competitiveness programmes across Nigeria.…
- 17 Oct 2013
Nigeria’s Economy Gets Fitch’s ‘BB’ Rating
Fitch Ratings has affirmed Nigeria’s long-term foreign and local currency IDRs and senior unsecured bond ratings at ‘BB-’ and ‘BB’ . The outlook is stable, according to the agency, which also…
- 20 Jun 2018
AfDB Launches First Electricity Regulatory Index for Africa
Though the majority of African countries have developed relatively robust institutional frameworks for the regulation of their electricity sectors, much work remains in strengthening regulatory…
- 5 Aug 2014
Eaton Opens Office in Nigeria
Global power management company Eaton has opened corporate office in Lagos, Nigeria. The office will serve the needs of Eaton’s customers in Nigeria as well as Western Africa. Shane…
- 3 Jul 2026
World Bank Okays New $1.25Bn Loan for Nigeria
The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration (NAIJA) programme. The approval was announced this week as the World…
- 20 May 2017
Gencos to Sell Electricity Directly to Consumers
Babatunde Fashola, Minister of Power, Works and Housing, has declared that eligible power consumers are now free to purchase electricity directly from power generation companies. By declaring…
- 9 Aug 2026
Tax Reform Built on Taxing Prosperity, Not Poverty– Adedeji
Nigeria tax system is build on taxing prosperity not poverty, according to Dr. Zacch Adedeji, executive chairman, Nigeria Revenue Service (NRS). Dr. Zacch Adedeji, executive chairman, Nigeria Revenue…
- 29 May 2024
Transcorp Group Posts N142 Billion Revenue, N58.8Bn PBT, Celebrates 10 year’s unbroken Dividend payment
Transnational Corporation Plc (Transcorp Group), Nigeria’s leading listed conglomerate, announced 57% revenue growth, from N90.3 billion in 2022 to N142.1 billion in 2023, at its 18th Annual General…
- 22 Jan 2023
SERAP Sues Buhari Over Failure to ‘Reverse Unlawful Electricity Tariff Hike’.
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari over “the failure to reverse the unlawful, unjust, and unreasonable increase in…
- 20 Jun 2024
e-Governance Reform Saves Edo State N60Bn
Donatus Ojiefoh, Edo State Commissioner of Mines and Energy, has said Mr Godwin Obaseki, state governor, e-governance in the state civil service sector has saved the sum of N60 billion, an amount…
- 15 May 2022
Geometric Power Launches Campaign on Dangers of Illegal Sale of Electric Power
Geometric Power Ltd, Nigeria’s foremost integrated power company, promoted by Bart Nnaji, former power minister, has launched a campaign to enlighten the public on the grave dangers of illegal sale…
- 8 Mar 2018
PHCN: Reps Accuse Banks of N2Bn, $3.8m Fraud
House of Representatives said it would probe the alleged loss of over N2 billion and $3.8 million as a result of the non-payment of interest by banks from sale proceeds of the Power Holding Company…
- 17 Sept 2014
NBET Appoints Stanbic IBTC to Handle Settlements
Nigerian Bulk Electricity Trading Plc (NBET) has appointed Stanbic IBTC as the payment management services provider, or payment agent, to the Bulk Trader. According to officials, the process took…
- 5 Jan 2021
NERC Denies Increasing Electricity Tariff
The management of the Nigerian Electricity Regulatory Commission (NERC) has said there is no 50 per cent increase in electricity tariff. This was made known by Mr Micheal Faloseyi, NERC’s Head of…
- 27 May 2014
Nigerians Get New Electricity Tariffs
From June 1, some electricity consumers will pay far lesser than what they are currently paying for fixed charges and energy consumption. A few others, according to the Nigerian Electricity…
- 22 Oct 2025
Elumelu Underscores Critical Role Of Private Sector As Engine Of Transformation
Group Chairman, United Bank for Africa (UBA) Plc, and Heirs Holdings Limited, Tony Elumelu, CFR has challenged African policymakers to create environments that reward enterprise and unlock the…
- 30 Sept 2014
NERC Targets N1trn Revenue from Power Sector by 2016
Dr. Sam Amadi, Chairman, Nigeria Electricity Regulatory Commission (NERC), has said that the revenue from the nation’s power sector would grow to N1 trillion by 2016. Amadi made the projection…
- 22 Sept 2016
CBN Says Rate Cuts not Enough to get Nigeria Out of Recession
Interest rate cuts alone will not help to pull Nigeria out of a recession amidst rising inflation, the Central Bank of Nigeria said yesterday. On Tuesday, the central bank kept its benchmark interest…
- 19 Jun 2025
Mobile Industry Emissions Down 8%, But Pace Must Double to Hit Net Zero
The mobile industry’s operational emissions fell by 8% between 2019 and 2023, even as mobile connections grew by 9% and data traffic quadrupled, according to the GSMA’s fifth annual Mobile Net Zero…
- 18 May 2026
Lagos Unveils Plan for 24-hour Electricity Supply in the State
Lagos State Government has unveiled an ambitious roadmap to end the “culture of blackouts” and establish a 24-hour electricity market driven by private sector investment, smart metering and…
- 24 Dec 2014
CBN Signs MoU with DMBs to Boost Power Supply
Central Bank of Nigeria (CBN) has signed another agreement with the Deposit Money Banks (DMBs) in the country to boost power supply in the country. Leading the signing of the agreement on Monday, in…
- 5 May 2013
Experts Say Steady Power Supply’ll Boost Economy
Economists have predicted that if Nigeria gets its public electricity grid working 24 hours, the nation would greatly reduce business costs by up to 40 percent and add up three percent to GDP. This…
- 2 Aug 2026
FG to Abolish Subsidies in Power Sector in 2027 – Minister
Mr. Joseph Tegbe, minister of Power, has said that the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases. Mr. Joseph Tegbe,…