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
Oluwole Foundation Lifts 70 Branch Members Of C&S Church in Ilorin

Stephen Olufemi Oni, Ilorin
Barely a month after empowering no fewer than 70 members at the headquarters of the Cherubim and Seraphim Movement Church Worldwide in Ilorin, the Kwara State capital, the Oluwole Foundation has extended the noble gesture to 24 branches of the Church within Ilorin metropolis and Oke-Oyi.
In the new dispensation, the Oluwole Foundation provided material and financial support to additional 70 beneficiaries, costing the Foundation about N37m.
Fielding questions from journalists on the sideline of the programme, the Chairman of the Foundation, Pastor Moses Ademola Popoola, said the extension of the empowerment programme this year to the branches of the Church was in obedience to divine instruction and as a means to tackle poverty within the Church community.
“We have 62 branches under our Church, but this is the first time we are going beyond our headquarters. For now, we have covered 24 Churches and empowered 70 people, spending close to N37 million. This is not just charity; it’s also evangelism. Some people will not be converted through preaching but through welfare,” Pastor Popoola explained.
He urged beneficiaries to take the gesture seriously, work hard, and extend help to others, assuring the congregants of further expansion of the empowerment programme to cover more beneficiaries in the coming years.
“They should not see this as a national cake. Be prudent, save, grow your business, and from what you have, help someone else. That way, we help the family, society, and the nation,” he cautioned.
Pastor Popoola also called on other foundations, especially those owned by Christians, to carry out their work with sincerity, rather than for personal gain. “This service is first to God, then to society. When we help people genuinely, we reduce poverty, crime, and unemployment.”
The cleric, however, stressed the need for the government to prioritise agriculture and rural development in order to tackle poverty and unemployment ravaging the nation.
He added: “Every wealthy nation built its economy on agriculture. So, government should secure our farmlands, provide tractors, and support our farmers holistically. Let each region focus on its strength, like cocoa in the West and groundnut in the North. We must also develop rural areas with electricity, motorable roads, hospitals, and jobs to curb rural-urban migration.”
One of the beneficiaries, Mrs Janet Shaba, who expressed gratitude to the Oluwole Foundation for the kind gesture, promised that they would make judicious use of the items received.
End
News
Audu Ogbeh’s death a big loss for North Central: Kwara Gov

Stephen Olufemi Oni, Ilorin
Kwara State Governor AbdulRahman AbdulRazaq has expressed sadness over the death of former Minister of Agriculture and Rural Development, Chief Audu Ogbeh.
Governor AbdulRazaq said the death of Chief Audu Ogbeh is a big loss to the North Central Region, calling him a statesman, thoughts leader, and nationalist.
“Chief Audu Ogbeh was a dependable leader of our region. He earned the respect of all on account of his outstanding leadership and service to the nation at different times, especially during his time as Minister of Agriculture and Rural Development,” the Governor said in a statement on Sunday.
Governor AbdulRazaq has, however, sent his heartfelt condolences to the people and government of Benue State and to his family and associates.
He prayed to God to give the family the strength to bear the huge loss.
End
News
Ambode Declares Total Support for President Tinubu’s 2027 Re-Election Bid

• Dismisses claims of gubernatorial ambition under ADC.
Former Lagos State Governor, Mr. Akinwunmi Ambode, has publicly reaffirmed his unwavering loyalty to the All Progressives Congress (APC) and President Bola Ahmed Tinubu, pledging full commitment to the President’s 2027 re-election campaign.
In a strongly worded statement, Ambode dismissed recent speculations linking him to a governorship ambition under the African Democratic Congress (ADC), describing the reports as “false publications” aimed at causing distractions.
“I wish to publicly reaffirm my absolute and unshakable loyalty to the APC, the party under which I had the privilege of serving Lagos State as governor in 2015, and to President Bola Ahmed Tinubu, my leader, mentor, and a tireless champion for Nigeria’s progress,” Ambode said.
The former governor praised President Tinubu’s leadership style, describing him as a “proven achiever and result-oriented leader” whose administration has delivered significant reforms in pensions, student loan accessibility, youth empowerment, and national economic growth.
Highlighting key achievements of the Tinubu administration, Ambode pointed to the elimination of fuel scarcity, improved security measures, and policies designed to improve the lives of ordinary Nigerians.
“His focus, determination, and inclusive governance style are restoring hope and delivering tangible results. I am convinced that, given another four years, Nigerians will have even greater reason to celebrate,” Ambode stated.
He urged party faithful and Nigerians at large to ignore political distractions, pledging to work tirelessly to strengthen the APC and ensure President Tinubu’s victory in 2027.
“Let it be clear: I stand solidly with President Bola Ahmed Tinubu and the All Progressives Congress. We will work together to ensure victory in 2027 to continue delivering the dividends of democracy to all Nigerians,” Ambode concluded.
Ambode’s declaration comes amid growing political realignments ahead of the 2027 general elections, with the former governor making it clear that his political loyalty remains firmly with the APC and its leader.
-
Uncategorized5 years ago
FG, states urged to harness flooding for ranching, others with technology – Agbaje
-
Headlines10 years ago
Breaking: EFCC seals Borno House of Assembly, as Hon members take to their heels
-
News11 years ago
Nigeria Security Operatives Stage Manhunt For Homosexual Perpetrator
-
Headlines10 years ago
Political Clash:Borno Dep Gov Orders Abduction Of Church Leader
-
News8 years ago
How 21-year-old Girl fled community over accusation of lesbianism
-
News9 years ago
Yobe Gov Moves Against Deputy
-
Opinion6 years ago
7 signs she has friend zoned you
-
Technology4 years ago
Online job placement company headhunts women