News

Blackout: Incessant Grid Collapses Expose TCN Inadequacies – Olubiyo

Published

2 years ago

October 15, 2024

The President of Nigeria Consumer Protection Network, Kunle Olubiyo has said the reoccurrence of National grid collapses which leave the nation in darkness typifies the inadequacies of the Transmission Company of Nigeria.

Olubiyo disclosed this on Monday to DAILY POST while reacting to the sixth grid collapse in 2024.

The National grid collapsed again on Monday around 6:48 pm which plunged the country into darkness.

Although, TCN described the collapse as partial and noted that it has commenced restoration, power supply is yet to be restored in parts of the country as of the time of filing this report.

Reacting, Olubiyo said TCN’s trademark in the past years is paying lip service to the challenges facing the grid.

He knocked the TCN for its lack of sincerity in dealing with the problem of incessant grid collapses.

“The repeated occurrences of System Collapses and challenges of National Grid’s Stability and Reliability are largely due to a lack of sincerity of purposes and paying lips services to a broad spectrum of issues and misplaced priorities over the years by the management of Transmission Company of Nigeria.

“Inadequate investment in Network Improvement Strategies, Dearth of System Protective Scheme/ System Protective Devices, Near Zero.

“Vegetation Control and all other recurring decimal of already identified challenges which have received little or no attention”, he said

Recall that grid collapses were recorded on February 4, July 6, August, and September 19, 2024.

TCN data showed that the country’s national grid has collapsed more than 227 times in the last 14 years.

This comes amid the hike in electricity tariff in April by 240 percent which has worsened the hardship Nigerians are facing.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

1 hour ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

2 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

4 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.