Despite a steady installation of meters throughout 2025, not less than 5.2 million electricity customers across the country remain unmetered, leaving them subject to the controversial estimated billing system. This figure was revealed in the latest Metering Factsheet released recently by the Nigerian Electricity Regulatory Commission (NERC). This significant metering gap persists even as the …
Nigeria's electricity Distribution Companies (DisCos) generated a total revenue of ₦207.49 billion in December 2025. Despite the substantial income, the sector recorded a significant revenue shortfall of ₦51.17 billion. This is according to the latest Commercial Performance Factsheet released by the Nigerian Electricity Regulatory Commission (NERC). The revenue loss highlights persistent collection inefficiencies even as …
Nigeria’s three major cement producers, Dangote Cement, BUA Cement and Lafarge Africa, posted strong revenue and profit growth in their 2025 audited financial results. But Dangote Cement stood out by making significantly more profit per bag of cement than its competitors. The company recorded the highest gross profit margin in the industry, showing it is …
Thirty banks have already met Nigeria’s new minimum capital requirements ahead of the March 31, 2026 deadline, the Central Bank of Nigeria (CBN) said. The apex bank announced in a statement issued on Friday by its Acting Director of Corporate Communications, Hakama Sidi Ali. The apex bank said lenders across the industry have been actively …
The newly launched advocacy group, Working People United (WPU), has thrown its weight behind President Bola Tinubu, affirming that his economic policies will ensure a stronger and more sustainable Nigeria. Speaking at the WPU unveiling in Abuja on Friday, Comrade Williams Akporeha, Interim National Coordinator, said the group would actively educate Nigerians about government reforms …
The Federal Airport Authority of Nigeria (FAAN) has adopted a hybrid toll system after President Bola Tinubu ordered temporal suspension of the cashless policy rollout. Minister of Aviation and Aerospace Development, Festus Keyamo, had announced that the President’s directive, given during the Federal Executive Council meeting on Wednesday, was prompted by the chaos that arose …
The Nigerian government has approved the creation of a new entity, the Grid Asset Management Company (GAMCO), to tackle the country's persistent power challenges. The move, proposed by President Bola Tinubu, aims to fix the longstanding challenges in the nation's electricity supply, especially the transmission segment. The approval for the company's establishment was granted during …
An Economic and Financial Crimes Commission (EFCC) witness, David Ajoma, on Friday told the Federal High Court in Abuja that former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, was not involved in any of the transactions conducted by Rayhan Hotels and Metropolitan Autotech Limited through Sterling Bank. Ajoma, a compliance officer with …
Qatar’s Energy Minister, Saad Al-Kaabi, has issued a stark warning that oil prices could hit $150 per barrel if the ongoing conflict in the Middle East continues to disrupt vital energy supplies. This warning comes after conflicts sparked by a joint military attack on Iran led by the U.S. and Israel escalated, spreading through the …
President Bola Ahmed Tinubu has approved the posting of 31 non-career and 34 career ambassadors to various Nigerian diplomatic missions across the world and the United Nations. This was made known in a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Friday. The ambassadors-designate were earlier confirmed …
