Business
17 Independent Power Distributors Get Licences, 10 Operational
The Federal Government has issued licenses to 17 Independent Electricity Distribution Networks operators, among which 10 are currently operational, the government announced on Tuesday.
It disclosed this in the 2022 Market Competition Report released on Tuesday by the Nigeria Electricity Regulatory Commission, an agency of the Federal Government.
The government revealed this while providing a breakdown of the country’s power distribution segment. Nigeria’s power sector is basically categorised into the electricity generation, transmission and distribution segments.
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In November 2013 when the sector was unbundled into the three segments, 11 successor distribution companies were created and were privatised, as they have been serving the country since then, amidst complaints by consumers.
But in the just released 2022 Market Competition Report, the NERC said, “All the 11 successor Discos (distribution companies) have been privatised. Ownership and management of the Discos have been transferred to private investors.
“Additional private distribution company has been licensed in a specified franchised area. 17 Independent Electricity Distribution Networks’ operators have been licenced, of which 10 are operational as at December 2022.
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“The regulator explained that the market competition report was prepared in compliance with Section 24(2) of the Electric Power Sector Reform Act 2004, which mandates the commission to prepare an annual report for the minister as to the potential for competition in the Nigerian Electricity Supply Industry.
“This report provides a review of the level of competition in the NESI and assesses the progress for a transition to a more competitive market. The report further provides recommendations for transition to a more competitive market pursuant to Section 26 of ESPRA.
“The report is directed at a wide spectrum of readers including government officials and institutions, private sector, energy economists, engineers, financial and market analysts, potential investors as well as general readers,” the commission stated.
Business
Naira Records Massive Appreciation Against US Dollar Into Christmas Holidays
The Naira gained massively against the United States dollar in the last three days at the official foreign exchange as trading ended for the Christmas holidays.
Central Bank of Nigeria data showed that the Naira strengthened further on Wednesday to N1,443.37 per dollar, up from N1,449.99 on Tuesday.
This means that since Monday this week, the Naira has recorded a significant N13.18 gain against the dollar, according to the apex bank data.
READ ALSO:Naira Records Depreciation Against US Dollar Across Official, Black Markets
Similarly, at the black market, the Naira traded on Wednesday at N1,490 per dollar, an appreciation from the N1,500 exchanged on Monday but the same rate as on Tuesday.
The uptrend comes amid the rise in the country’s external reserves to $45.24 as of December 23rd, 2025.
DAILY POST reports that the Naira gained against the dollar at the official market on Monday and Tuesday.
Business
Report Any MRS Filling Stations Selling Fuel Above N739 Per Liter — Dangote Refinery To Nigerians
Dangote Refinery has urged Nigerians to report any MRS filling station outlets nationwide selling fuel above the N739 per liter announced price.
The company disclosed this in a statement on Sunday.
The refinery insisted that its petrol being at retail outlets remain N739 per liter while the gantry price is N699.
It further called on other filling station owners to patronize its refined petroleum products at the N699 rate.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market.”
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Recall that Aliko Dangote, the president of Dangote Refinery, had pegged the retail price of his petrol at a maximum of N740.
DAILY POST reports that MRS filling and other filling stations had reduced fuel prices to between N739 and N912 per liter in Abuja.
However, reports emerged that some MRS filling stations were selling above the N739 per liter announced price benchmark.
Business
Naira Records Significant Appreciation Against US Dollar
The Naira recorded significant appreciation against the United States dollar on Monday at the official foreign exchange market to begin the week ahead of Yuletide on a good note.
The Central Bank of Nigeria’s data showed that the Naira strengthened to N1,456.56 per dollar on Monday, up from N1,464.49 traded on Friday last week, 19th December 2025.
This means that the Naira gained N7.93 against the dollar when compared with the N1,464.49 was exchanged as of Friday, December 19, 2025. DAILY POST reports that Monday’s gain at the official FX market is the first since December 15th.
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Meanwhile, at the black market, the Naira remained stable at N1500 per dollar on Monday, according to multiple Bureau De Change operators in Wuse Zone 4, Abuja.
The development comes as the country’s external reserves stood at $44.66 billion as of last week Friday.
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