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Nigeria’s Electricity Market Revenue Up By 70% In 2024 – Minister

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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.”

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Dickson to Launch National Cake: Nigeria’s Civic Board Game

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At a time when Nigeria is battling not just corruption or insecurity but an identity crisis and generational disconnection, renowned coach and Human Capital Engineer Victor Prince Dickson is leading a civic renaissance with a board game.

National Cake, the One-oasis board experience is not just a game. It is a movement, a metaphor made real. A classroom without walls and a mirror of our national soul. Set to launch officially on September 25, 2025, National Cake dares to do what no civic education textbook or policy reform has done: reconnect Nigerians to Nigeria, one story, one spin, one revelation at a time with about 200 events and policies that shaped Nigerians.

This is not about play, it is about healing,” Dickson says.“We have criticized Nigeria long enough. National Cake is the tool to rekindle belonging, confront our shared pain, and reimagine our collective promise. The truth is that if we do not teach ourselves who we are, the world will tell us who we are not. If we do not guide the children through the crossroads, they may lose the road entirely.”

Built on a foundation of neuroscience, storytelling, and patriotism, National Cake takes players on a journey through Nigerian history, 1914 to 2025, and even goes further to 2075. Blending memory, strategy and emotion.

The game uncovers hidden truths, provokes personal reflection and invites every player, young or old, to ask: What role will I play in rebuilding this nation?

It is civic education reborn. Culture reformed. Patriotism gamified.

In a country where youth often feel excluded and leaders are vilified, National Cake offers a rare and refreshing handshake across generations, a chance for elders to share wisdom, and for youth to reclaim identity and voice.

Victor’s larger mission is clear: to shift the national cake metaphor of “eating the cake” from unending consumption to unending responsibility, using history, culture, experiences, Emotions, and play craft as tools for civic rebirth.

In his own words, ‘If you know your History, the Future will not be a mystery…”With the National Cake launch, Dickson is not selling a product; he is offering a tool of reconciliation, a mechanism of remembrance and a playable prophecy of Nigeria’s possible future.

Victor invites you to join the movement. One box. One player. One nation reborn.Victor Prince Dickson to Launch National Cake: Nigeria’s Civic Board Game designed to Heal the Nation

Abuja, Nigeria.
At a time when Nigeria is battling not just corruption or insecurity but an identity crisis and generational disconnection, renowned coach and Human Capital Engineer Victor Prince Dickson is leading a civic renaissance with a board game.

National Cake, the One-oasis board experience is not just a game. It is a movement, a metaphor made real. A classroom without walls and a mirror of our national soul. Set to launch officially on September 25, 2025, National Cake dares to do what no civic education textbook or policy reform has done: reconnect Nigerians to Nigeria, one story, one spin, one revelation at a time with about 200 events and policies that shaped Nigerians.

This is not about play, it is about healing,” Dickson says.“We have criticized Nigeria long enough. National Cake is the tool to rekindle belonging, confront our shared pain, and reimagine our collective promise. The truth is that if we do not teach ourselves who we are, the world will tell us who we are not. If we do not guide the children through the crossroads, they may lose the road entirely.”

Built on a foundation of neuroscience, storytelling, and patriotism, National Cake takes players on a journey through Nigerian history, 1914 to 2025, and even goes further to 2075. Blending memory, strategy and emotion.

The game uncovers hidden truths, provokes personal reflection and invites every player, young or old, to ask: What role will I play in rebuilding this nation?

It is civic education reborn. Culture reformed. Patriotism gamified.

In a country where youth often feel excluded and leaders are vilified, National Cake offers a rare and refreshing handshake across generations, a chance for elders to share wisdom, and for youth to reclaim identity and voice.

Victor’s larger mission is clear: to shift the national cake metaphor of “eating the cake” from unending consumption to unending responsibility, using history, culture, experiences, Emotions, and play craft as tools for civic rebirth.

In his own words, ‘If you know your History, the Future will not be a mystery…”With the National Cake launch, Dickson is not selling a product; he is offering a tool of reconciliation, a mechanism of remembrance and a playable prophecy of Nigeria’s possible future.
Victor invites you to join the movement. One box. One player. One nation reborn.
With Thisday Newspaper

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REBUTTAL: BAYO OJULARI CLARIFIES RESIGNATION, DISMISSES “ABDUCTION” CLAIMS AS FICTION

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Contrary to the sensational and wildly inaccurate report by Peoples Gazette alleging that the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, was “abducted and forced to resign” by security officials, we categorically state that the story is nothing more than a poorly scripted work of fiction, better suited for a Nollywood thriller than credible journalism.
Unlike the Gazette’s dramatic tale of midnight kidnappings and shadowy coups, Mr. Ojulari voluntarily tendered his resignation after due consultations with higher authorities in Abuja. His decision followed the recent official trip to Kigali for an oil and gas conference—a legitimate business engagement aimed at advancing Nigeria’s energy sector interests.
“I was neither arrested nor strong-armed into resigning,” Mr. Ojulari clarified with amusement. “In fact, the only ‘pressure’ I faced was from my own conscience and commitment to accountability after the unnecessary controversy stirred around the Kigali trip. My resignation was a personal decision, submitted through the appropriate channels—not at gunpoint in some spy movie scenario.”
The report’s claim that EFCC Chairman Ola Olukoyede and DSS Director-General Adeola Ajayi orchestrated an illegal “coup” to remove him is not only baseless but laughable. “If I were to be ‘forced out,’ it certainly wouldn’t be in silence—I’d have at least negotiated for a better headline!” Ojulari joked.
As for the bizarre insinuations about British-Nigerian businesswoman Olatimbo Ayinde, Mr. Ojulari maintains that he has no personal or professional dealings with her and finds it curious that her name keeps appearing in unrelated matters. “I’ve spent decades in the oil and gas industry, building a reputation on transparency and expertise—not gossip columns,” he stated firmly.
While Peoples Gazette may thrive on conspiracy theories and clickbait, the truth remains simple: Mr. Ojulari resigned honorably, the NNPCL continues its operations uninterrupted, and Nigeria’s energy sector remains focused on progress—not palace intrigue.
We urge the public to disregard this fictional account and instead rely on verified statements from official channels. After all, in the words of Mr. Ojulari: “If I were going to stage a dramatic exit, I’d at least make sure it came with a soundtrack and better lighting.”

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JCI Nigeria Unveils Top 30 Finalists for 2025 Outstanding Young Persons Awards

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by David:

Kaduna | July 30, 2025

Junior Chamber International (JCI) Nigeria has announced the top 30 finalists for its highly anticipated 2025 Ten Outstanding Young Persons (TOYP) Programme, an annual initiative that celebrates young Nigerians making significant contributions to society.

The finalists, all between the ages of 18 and 40, were selected for their exceptional leadership, innovation, and impact across various sectors, including business, politics, education, health, science, and humanitarian service.

According to JCI Nigeria, the shortlist was curated by KPMG Nigeria—official audit partner for the 2025 edition—from a pool of 50 nominees. An independent panel of judges conducted the evaluation process between March and April 2025.

The final ten honorees will be announced at a national awards ceremony later this year.


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