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Minister Lists Factors Limiting Power Sector Growth In Nigeria

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The Minister of Power, Chief Adebayo Adelabu, Wednesday, pointed at the refusal of electricity consumers to pay their bills and energy theft as some of the factors limiting the growth of the power sector in the country.

The Minister who spoke in Abuja when he received members of the Civil-Military Cooperation (CIMICO), Civil Committee on Energy, also blamed the current challenges facing the sector on “past actions or inactions of past administrations”.

He however noted that steps taken by the President Bola Ahmed Tinubu’s administration in the past one year have placed the sector on the path of growth, stressing that transiting to a cost reflective tariff would lead to stable power supply.

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According to him, “What we have seen in the power sector today is the reflection of the actions and inactions of past administrations. Over 60 years of our existence since independence, we have not done the right thing for the power sector.

READ ALSO: Protest: I Mean Well For President Tinubu – Says Bauchi Governor

“Which is why as a nation of 220 million people, we are still running around 5,000 megawatts of power. It is shameful. South Korea, 49 million people, has 130,000 megawatts of power.”

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Chief Adelabu noted that “three things that I feel that frustrate the modest achievements that we have today are, one, refusal of electricity consumers to pay their bills. There is nobody that wants to do a business and is not paid for the business. They will close shop.

“We hit 5,155 megawatts of power on the 9th of August. The highest in three years. We met around 4,000MW, even less than 4,000MW when we resumed. This is just a year. That’s about 27% increase.

“It’s quite commendable. But the only way is that it must be sustainable. Yes, so to sustain it, consumers must be ready to pay.

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“Number two, power theft should be discouraged. And civil societies need to be sensitized that when you see something, you say something.

READ ALSO: Women Protest Half-Naked Over Incessant Killings In Ondo Community
“A lot of welders work over night. They just hang their wires at 12 midnight when everbody is sleeping. A lot of people bypass meters. All these will not serve the sector.

“And lastly is vandalization. We need to desist from it. Transmission lines, transformers and other power infrastructures are being vandalised daily. The police and other security agencies are trying but it is the people themselves that can protect these facilities. Yes. So we need to keep sensitizing them so that our assets will be protected”.

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Earlier, the Leader Civil Military Cooperation (CIMICO) Civil Committee on Energy, Mr. Adams Otakwu harped on the need to protect power sector infrastructures as one of the ways to ensure energy security for the country.

He pointed out that Nigeria’s economic growth was dependent on adequate power supply.

He therefore pledged the groups support for the Federal Government’s effort to end power sector infrastructure vandalism and energy theft.

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Six Corps Members Receive N10m Grants To Boost Agribusiness

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Six members of the National Youth Service Corps (NYSC) have received a total of N10 million in grants to expand their agribusiness ventures under the Farmers for the Future Programme.

The programme was organised on Monday by the British American Tobacco Nigeria Foundation (BATNF) in collaboration with the NYSC to encourage young Nigerians to embrace agriculture and develop sustainable businesses.

Presenting the cheques to the beneficiaries in Abuja, the NYSC Director-General, Brigadier General Olakunle Nafiu, urged Corps members to maximise the opportunities provided by the service year by venturing into commodity marketing and other viable businesses.

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Nafiu said agribusiness remained a viable avenue for young people to build sustainable enterprises, create employment and generate wealth.

READ ALSO: NYSC Swears In 1,600 Corps Members In Bauchi

He also stressed the importance of value addition to the success and sustainability of business ventures, while commending BATNF for placing Nigerian youths at the centre of its entrepreneurship initiatives through value-chain development, employment creation and its partnership with the NYSC.

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“I charge you to spread the news around. We have seen the outcome, and it is a good idea,” he said.

The beneficiaries are Dominic Olufemi (FC/25C/1143), who received N3 million; Temitope Adewole (ED/26A/2251), N2 million; Abdulwaheed Bala (ED/25B/1402), N2 million; Olanike Mayungbe (OG/26B/1037), N1 million; Kingsley Udoeyen (KG/26A/1735), N1 million; and Lorember Lorsue (JG/25B/1742), N1 million.

Speaking on the selection process, the Acting Director, Skills Acquisition and Entrepreneurship Development (SAED), Mrs Winifred Shopeka, said the programme began with an online registration portal through which Corps Members engaged in agribusiness submitted their business plans.

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READ ALSO: NCCSALW Deploys NYSC Members In Fight Against Illegal Arms In Northeast

She said nearly 3,000 Corps members applied and underwent a rigorous selection process that produced 20 finalists.

According to her, the finalists participated in a boot camp and a final pitching session, which produced the 10 best presenters before the six ultimate winners were selected.

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Shopeka said the beneficiaries had also been mentored and attached to established market operators to assist them in marketing their products.

She added that Corps Members who did not make the final stage of the competition were also trained by BATNF.

The BATNF Team Lead, Mr Oludare Odusanya, congratulated the beneficiaries and urged Corps Members engaged in agribusiness to master the fundamentals and acquire the knowledge and skills necessary to succeed.

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“We are happy with our collaboration with the NYSC, and it will continue,” he said.

READ ALSO: NYSC Lauds Gov. Mohammed’s Intervention In Fence Collapse

Odusanya explained that BATNF was an independent organisation established to contribute to poverty reduction in Nigeria through sustainable agricultural practices and other interventions.

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He said the Farmers for the Future Programme was instituted in collaboration with the NYSC to encourage Corps Members to venture into agribusiness and become job creators.

He added that the beneficiaries would be attached to mentors who would guide them towards achieving success in their respective businesses.

According to him, the programme has, since its inception, continued to enhance the entrepreneurial capacity of Corps Members.

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CBN Reduces Interest Rate To 23%

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The Central Bank of Nigeria (CBN) on Tuesday announced the reduction of the interest rate, also known as Monetary Policy Rate (MPR) to 23 percent.

Briefing the media in Abuja, the Governor of the CBN, Mr. Olayemi Cardoso, said at the 307th MPC meeting held on September 22, 2026 agreed the resetting of the MPR and recaliberation of the monetary policy market.

According to Cardoso, the committe is satisfied with the disinflation progress, adding that members noted stable banking sector following successful recapitalisation.

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READ ALSO: CBN Monetary Tightening Worsening Nigeria’s N50tn Development Finance Gap – Group

Meanwhile, according to Nigerian Tribune, reports that that the MPC, at its 306th meeting in July 2026, disclosed its resolution to retain the interets at 26.5 percent.

According to the Governor of the CBN, Olayemi Cardoso, “the Committee’s decision to maintain the current policy stance followed a thorough assessment of the balance of risks. Although headline inflation moderated marginally in June 2026, global uncertainties have heightened, due mainly to the renewed hostilities in the Middle East.

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“In view of the evolving developments, maintaining a cautious monetary policy stance remains appropriate. In arriving at its decision, the Committee noted the recent resurgence of hostilities in the Middle East, with particular attention to its spillover effects on global energy prices and the potential pass-through to domestic inflation.”

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NURTW: KWAM1 Settles Long-time Rift Between MC Oluomo, Tafa Sego

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Nigerian Fuji musician, Wasiu Ayinde Marshal, popularly known as KWAM1, has brokered a peace deal between the National Union of Road Transport Workers (NURTW) National President, Musiliu Akinsanya, popularly known as MC Oluomo, and the Lagos State Chairman of the union, Mustapha Adekunle, aka Tafa Sego.

The reconciliation took place at Ojusagbola in Ijebu, Ogun State, where several NURTW chieftains gathered for the meeting.

The development was announced on Tuesday on KWAM1’s digital media page on Instagram, alongside photographs from the meeting.

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According to the post, the two union leaders have resolved their differences after years of strained relations.

READ ALSO: Why FG Named KWAM 1 Aviation Security Ambassador — Keyamo

After years of an age-long rift, MC Oluomo and Tafa Sego have finally settled their differences. And from what we know now, this is final,” the post said.

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The musician was said to have intervened as the Mayegun of Yorubaland, with the aim of bringing an end to the longstanding disagreement between the two NURTW figures.

“K1 acted in his role as the Mayegun of Yorubaland by seeking an end to the long-standing rift, once and for all,” it said.

The post also described the meeting as a significant step beyond previous public displays of reconciliation.

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READ ALSO: FG Gives KWAM 1 Aviation Appointment, After Airport Incident

This time, it was not just another handshake for the cameras. The two old friends and colleagues came together at Ojusagbola, with King Wasiu Ayinde Marshal (K1) playing the peacemaker.”

Both MC Oluomo and Tafa Sego were reported to be pleased with the outcome of the intervention.

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“Both parties are delighted about the new development,” the post said.

The two men had previously been allies and prominent figures within the Lagos NURTW before their relationship became strained amid disagreements linked to leadership of the union in the state.

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