News
Nigeria’s Electricity Market Revenue Up By 70% In 2024 – Minister
From Lateef Taiwo
Minister of Power Adebayo Adelabu said that Nigeria’s electricity market revenue in increased by ₦700 billion in revenue, reflecting a 70% increase.
The minister disclosed this at the opening ceremony of the 2025 and 4th African Natural Resources and Energy Investment Summit (AFNIS) holding at the Banquet Hall of the Presidential Villa on Wednesday in Abuja with the theme of this year’s summit, which is the fourth edition, is “Harnessing Local Content for Sustainable Development”.
He noted that the Electricity Act of 2023 has decentralised electricity governance, as a result of which eleven states had already assumed regulatory control over their sub-national markets, unlocking investment and competition.
“This reform enables each state to tailor energy solutions to local needs, while still contributing to national and regional market stability.
“We have developed and presented two foundational planning documents: the National Integrated Electricity Policy (NIEP) and the Integrated Resource Plan (IRP). These frameworks now guide power sector planning, prioritising least-cost solutions, optimal resource use, and clear investment pathways,” Adelabu said.
According to the power industry overseer, The theme “Harnessing Local Content for Sustainable Development” speaks directly to the current Federal Ministry of Power priorities.
He said as global trends shift toward decentralisation, digitisation, and decarbonisation, Nigeria is working to ensure that local content does not remain a policy slogan but becomes a measurable lever for economic growth, industrial capacity, and energy security.
He said, “With a population exceeding 200 million, Nigeria’s electricity demand continues to rise. Meeting that demand requires more than generation. It requires a clear regulatory framework, sustained investment, and local participation at every value chain level, from metering and manufacturing to system operations and grid management.
“Under the Renewed Hope Agenda of President Bola Ahmed Tinubu, we are strengthening domestic capabilities across the sector. We are driving reform to reduce import dependence, close infrastructure gaps, and embed local skills and technology into the core of our power strategy.
“We have developed and presented two foundational planning documents: the National Integrated Electricity Policy (NIEP) and the Integrated Resource Plan (IRP). These frameworks now guide power sector planning, prioritising least-cost solutions, optimal resource use, and clear investment pathways.
“Furthermore, it is evident that, due to our transformative tariff reforms, the market has generated an additional ₦700 billion in revenue, reflecting a 70% increase. This results from the cost-reflective tariff adjustment for Band A customers. Market revenue for 2024 rose from NGN 1 trillion in 2023 to NGN 1.7 trillion.
“This growth in market revenue is unprecedented, as the highest growth previously achieved was 20%. This positively impacts the reduction of the government subsidised tariff shortfall by 35%, reducing it from NGN 3 trillion to NGN 1.9 trillion and demonstrating that financial viability and service delivery can coexist harmoniously.”
In line with AFNIS 2025 theme, the minister said local content is being receiving premium attention through investment and execution.
He said, “We are using energy access and energy transition to drive domestic production, technology transfer, and employment: The Energising Education Programme (EEP) is adding 100MW of clean energy across 37 federal universities and 7 teaching hospitals. EEP III is now 70% complete.
“The DARES project, backed by a $750 million World Bank facility, targets over 17.5 million Nigerians through decentralised, private sector-led electrification with productive-use applications for SMEs and agriculture.
Through the Africa Mini-Grid Programme, we’ve secured $5.91 million in grants across 23 projects, delivering 948MW of new renewable capacity in partnership with 10 RESCOs.
“New meter test stations in Kano and Benin are nearing commissioning. These facilities will ensure quality assurance for meters assembled or produced locally—raising consumer trust and protecting investor capital.
“We are working closely with the Solar Energy Manufacturers Alliance of Nigeria to expand domestic assembly lines and deepen localisation in solar infrastructure.”
In terms of scaling regional integration and market opportunities, the minister expressed Nigeria’s commitment to partner in the Dar es Salaam Declaration and to be an active contributor to Mission 300, adding, “We remain focused on universal energy access and a credible path to net-zero emissions by 2060.”
“We are strengthening cross-border transmission through the West African Power Pool, expanding links to Benin, Niger, Togo, and Ghana. We are also participating in the ECOWAS Regional Electricity Market, which presents significant opportunities for Nigeria’s generation capacity and grid infrastructure.
Concluding, he stressed that local content must be measurable, translate to jobs, supply chains, technical skills, and retained value, saying Nigeria’s power sector reform is not about theory but execution.
“Our progress so far reflects a serious commitment to doing the hard work required to deliver a sustainable, investable, and resilient power sector.
“We are ready to partner with governments, private investors, and development institutions on projects that deliver results, respect local capability, and scale with impact.”
News
Dogara Celebrates Baba Jang at 82, Hails Him as a Visionary Statesman
Former Speaker of the House of Representatives and Chairman, Board of Trustees of the National Credit Guarantee Company Limited (NCGC), Rt. Hon. Yakubu Dogara, has joined Nigerians in celebrating Former Governor Jonah Jang, fondly called Baba Jang, as he clocks 82 years.
In a glowing tribute, Dogara described Baba Jang as a visionary leader whose life and service remain a beacon of hope for generations. He noted that Jang’s tenure as Governor of Plateau State was marked by courage, foresight, and an unwavering commitment to peace, unity, and development.
“Baba Jang’s life is a testimony of service and sacrifice. He invested in infrastructure, strengthened institutions, and worked tirelessly to foster unity in Plateau State. His leadership was never about personal gain but about building lasting foundations for progress,” Dogara said.
He further emphasized that Jang’s integrity, resilience, and mentorship have shaped leaders across Nigeria, adding that his legacy continues to inspire beyond the boundaries of Plateau State.
“As he celebrates 82 years, we honor him not just for the offices he has held, but for the enduring impact he has made on countless lives. Baba Jang remains a statesman, a father figure, and a model of quality leadership,” Dogara added.
The tribute underscores Baba Jang’s enduring influence in Nigerian politics and governance, highlighting his role as a leader whose footprints on the sands of time cannot be erased.
News
Civil Society Coalition Raises Alarm Over Nigeria’s Maritime Boundaries, Oil Wells Allocation
A coalition of Civil Society Organizations (CSOs), maritime experts and policy advocates has raised serious concerns over Nigeria’s maritime boundary management and the allocation of offshore oil wells, calling for urgent intervention by the Federal Government.
The concerns were presented on Thursday in Abuja during a civil society roundtable where the coalition leader, Dr. Gabriel Nwambu, addressed stakeholders and unveiled the communiqué issued after a recent verification mission to Nigeria’s offshore maritime corridor bordering Cameroon and Equatorial Guinea.
The communiqué followed a technical fact-finding and verification exercise conducted at sea on February 28, 2026, focusing on Nigeria’s offshore hydrocarbon blocks OML 114, OML 115 and OML 123 as well as the maritime boundary areas involving Nigeria, Cameroon and Equatorial Guinea.
Dr. Nwambu explained that the mission involved maritime governance stakeholders, mapping professionals and public policy experts who undertook physical observation of the maritime corridor, technical mapping verification and consultations with relevant authorities.
According to the coalition, the mission sought to independently verify the status of Nigeria’s maritime boundaries, offshore hydrocarbon entitlements and the implications of administrative and regulatory decisions affecting the Cross River maritime corridor.
ICJ Judgment Clarified
Presenting the findings, the coalition noted that the 2002 judgment of the International Court of Justice (ICJ) between Nigeria and Cameroon ceded only specific settlements in the southern Bakassi Peninsula — Atabong, Akwabana and Archibong Town — to Cameroon.
The coalition stressed that several areas often assumed to have been ceded were not included in the ruling.
“The Cross River Estuary and the western Bakassi peninsular islands of Dayspring I and II, Abana and Kwa Island were not ceded under the ICJ judgment,” the communiqué stated.
The group further emphasized that Nigeria still maintains maritime boundary continuity between the Cross River Estuary and the Akwayefe River Estuary based on the ICJ cartographic evidence and the physical geography of the region.
Dr. Nwambu also clarified that the Cross River Estuary remains Nigeria’s natural maritime gateway to the Atlantic Ocean and provides Cross River State with direct offshore access.
Questions Over Boundary Management
A major concern raised by the coalition relates to the actions of the National Boundary Commission (NBC) in implementing the Offshore/Onshore Dichotomy Abrogation Act using what it described as a temporary implementation map.
According to the communiqué, the baseline drawn from Tom Shot into the Cross River Estuary effectively closed the estuary’s mouth to the sea, thereby rendering Cross River State non-littoral.
The coalition warned that this development raises serious constitutional, economic and national security concerns.
It further criticized the NBC for failing to demarcate the Nigeria–Cameroon maritime boundary more than two decades after the ICJ ruling, stating that continued reliance on the temporary map could jeopardize Nigeria’s territorial integrity.
The report also alleged that the situation has effectively resulted in the ceding of about 780 hectares of maritime waters within the Cross River Estuary toward the Akwayefe River Estuary to Cameroon.
Oil Wells and Revenue Concerns
Beyond boundary issues, the civil society coalition raised alarm over oil revenue allocation and the management of transboundary oil fields.
According to the findings, the failure of relevant institutions to brief the President on key inter-agency reports could prevent Nigeria from exploiting 49 identified transboundary oil wells located within OML 114 in the Cross River Estuary.
The coalition also raised concerns over alleged financial irregularities relating to the Ekanga and Zafiro transboundary oil fields jointly developed by Nigeria and Equatorial Guinea.
It alleged that more than ₦33 billion may have been approved from the Federation Account in favour of Akwa Ibom State without clear presidential authorization.
The group further questioned whether revenues from the Ekanga and Zafiro fields — estimated at over $8 billion — had been properly remitted into the Federation Account.
Call for Presidential Intervention
To address the concerns, the coalition recommended several urgent measures, including a presidential review of the 2024 and 2025 inter-agency oil verification reports affecting Cross River and Akwa Ibom states.
It also called for the proper demarcation of the Nigeria–Cameroon maritime boundary in line with the ICJ judgment and the establishment of a Presidential Special Investigation Panel to probe the alleged loss of Nigerian maritime waters.
Other recommendations include a forensic audit of revenues from the Ekanga and Zafiro oil fields, investigation into the alleged ₦33 billion payment approvals, and diplomatic engagement with Cameroon to develop transboundary reservoir agreements.
The coalition also urged the Federal Government to restore and recognize Cross River State’s littoral status based on the geographic and legal status of the Cross River Estuary.
National Security Implications
In its concluding remarks, the coalition warned that the issues uncovered during the verification mission have far-reaching implications for Nigeria’s territorial integrity, maritime sovereignty, national security and oil revenue accountability.
Dr. Nwambu called on the President to treat the matter with urgency, stressing that transparent management of maritime boundaries and offshore resources remains critical to Nigeria’s economic stability and geopolitical standing.
The communiqué was jointly signed by representatives of the coalition of civil society organizations, maritime policy experts, technical observers and economic governance accountability groups.
News
Nigerian Youth Storm National Assembly Demands Access to Present Dishonourable Award to Senator
Nigerian Youth under the leadership of Empowerment for Unemployed Youth Initiative (EUYI) on Tuesday stormed the National Assembly to present Senator Olajide Ipinsagba with the Most Dishonourable Senator of the year award.
EUYI previously threatened to present the Senator with the award, citing a plethora infractions and unwholesome dealings especially with his legislative aids and associates.
The group urged the Senate President to grant them access to the hallowed chambers to make the presentation as wake up call to other public servants.
Addressing the press at the National Assembly complex, Comrade Danesi Momoh Prince disclosed that they had gathered as early as 7 am at the National Assembly gate only to discover that the Senate is not sitting and that the embattled Senator was absent despite prior information.
“We’re angry that Senator Olajide Ipinsagba has refused to show up and collect his award for his dishonourable conduct especially as it pertains the exploitation and underemployment of Nigeria youth under his office
“How can a Senator be paying his legislative aid 30,000 naira when the national minimum wage is 70,000 Naira? Is he the only one that needs money? Is it not wickedness to treat unemployed Nigerian youth like that?”, he queried.
The group vowed to go ahead and present the award to the Senator in person, be it in the Senate Chambers or his house. We shall however not give the award to anybody but the senator due to the “seriousness of his offense”
-
Uncategorized5 years agoFG, states urged to harness flooding for ranching, others with technology – Agbaje
-
Headlines10 years agoBreaking: EFCC seals Borno House of Assembly, as Hon members take to their heels
-
News12 years agoNigeria Security Operatives Stage Manhunt For Homosexual Perpetrator
-
News9 years agoHow 21-year-old Girl fled community over accusation of lesbianism
-
News10 years agoYobe Gov Moves Against Deputy
-
Opinion7 years ago7 signs she has friend zoned you
-
Technology4 years ago
Online job placement company headhunts women
-
Headlines10 years agoBorno Dep Gov Abducts Another Church Leader
