News

Epileptic Power: 37 Firms Get Licences To Produce 762.3MW

Published

4 years ago

September 26, 2022

Editor

Fresh licenses and permits have been issued to 37 companies to produce a total of 762.3 megawatts of electricity in order to boost power supply across the country, data obtained from the Nigerian Electricity Regulatory Commission showed.

An analysis of the commission’s latest Fourth Quarter 2021 Report on Sunday also indicated that the metering of power users dropped by 71.86 per cent when compared to the number of those who were metered by power distribution companies in the preceding quarter.

In the new report, the NERC said, “The commission approved the issuance of four new generation licenses with a total nameplate capacity of 508.5MW and the renewal of two existing licences in 2021/Q4.

“The commission also granted an aggregate capacity of 253.75MW captive power generation permit to eight companies and approved 25 mini-grid permits.”

It stated that 46 metering service providers consisting of 17 installers, 15 manufactures, two vendors and 12 importers were also approved by the commission in 2021/Q4

“The commission granted a total of 85 licenses and permits in 2021/Q4,” the report stated.

On metering, it stated that the huge metering gap for end-use customers was still a key challenge in the industry.

“A total of 81,084 meters were installed in 2021/Q4, as compared to the 288,154 meters installed in 2021/Q3,” the NERC stated.

Providing an explanation for this, it said, “The reduction in the number of meter installations in 2021/Q4 was largely driven by the winding down of the NMMP (National Mass Metering Programme) phase zero.

“The commission’s records indicate that, of the 10,514,582 registered energy customers as at December 2021, only 4,773,217 (45.40 per cent) have been metered compared to 42.93 per cent metering as at September 2021.”

It, however, stated that as a safeguard against overbilling of unmetered customers via estimation, the commission had set maximum limits to the amount of energy (energy caps in kWh) that might be billed to unmetered customers.

“The cap for each customer is set based on the customer category, consumption of metered customers on the same feeder and the customer’s tariff band.” the NERC stated.

It added, “The caps are computed based on three-month data of actual consumption records of metered customers on the same feeder.”

On customer complaints, the regulator stated that in 2021/Q4, cumulatively, the Discos received 222,639 complaints from consumers, as this was 24,479 (-9.91 per cent) less complaints than those received in 2021/Q3.

“In total, the Discos resolved 212,382 complaints corresponding to a 95.39 per cent resolution rate. Metering, billing, and service interruption were the prevalent sources of customer complaints, accounting for 58.83 per cent of the total complaints during the quarter,” it stated.
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News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

6 hours 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

6 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

8 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.