Business

Nigerians Buy One Million Air Conditioners Annually, Says UN

Published

3 years ago

March 31, 2023

Nigeria must not be dumping ground, FG Warns

Nigeria must not be a dumping ground for air conditioners and refrigerators with energy efficiency ratio that are below internationally acceptable minimum energy performance standard, the Federal Government declared on Thursday.

This came as the United Nations says Nigerians purchase about one million air conditioners every year.

Meanwhile, the Federal Government told the Nigeria Customs Service, Standard Organisation of Nigeria, and other relevant agencies, to be alive to their responsibilities, stressing that the influx of substandard cooling appliances posed danger to the climatic conditions across the country.

This came as the United Nations Environment Programme announced that over one million air conditioners were sold annually in Nigeria, adding that this was eating deep into the finances of Nigerians with respect to energy bills.

Speaking at the National Stakeholders’ Consultative Workshop on Energy Efficient and Climate-Friendly Cooling in Nigeria, the Minister of Science, Technology and Innovation, Adeleke Momara, said the enforcement of laws should be intensified.

After listening to a presentation by the UNEP Programme Management Officer, Brian Holuj, on the magnitude of pollution caused by the influx of substandard cooling devices imported into Nigeria, Mamora charged the NCS and SON to be alive to their duties.

“I listened to your presentation and certain issues were raised in it. There is the issue of monitoring and enforcement of protocols. Often times, we have beautiful policies and laws, but it is not the beauty of the policy, guideline or law that matters. It is the zeal for implementation that is most important.

“You mentioned this issue of Minimum Energy Performance Standard. What I think is that you have a minimum standard, but if there is no compliance with that, then we cannot get results. And if we must get results, it means the enforcement agencies must be alive to their responsibilities.

“The customs, Standard Organisation of Nigeria, and other relevant agencies need to be alive to their responsibilities and ensure that Nigeria does not become a dumping ground, where you just bring in all sorts of products that are not in line with what we expect by way of standards,” the minister stated.

He said the workshop, which was organised by the Energy Commission of Nigeria and UNEP, was aimed at promoting energy efficiency best practices in the cooling sector in Nigeria.

Momara said UNEP officials flew into Nigeria to support the country’s transition from inefficient cooling appliances to the most efficient ones in line with Nigeria’s commitment to mitigating climate change challenges.

He said, “It is a fact that Nigeria is the largest market in Africa, and this also applies to the cooling sector. With the current growing population, combined with improving lifestyle, urbanisation and rising global warming, Nigeria will continue to experience growing demand for air conditioners, refrigerators and other cooling devices.

“Thus becoming one of the fastest growing air conditioners and refrigerators market in the world. Unfortunately, most of the air conditioners utilised in the country have an energy efficiency ratio below internationally acceptable minimum energy performance standard.”

Business

Why We Sited Our Multi-Billion Naira Automobile Firm Branch in Benin – Skyewise Group CEO

Published

1 day ago

May 4, 2026

Editor

Dr. Elvis Abuyere, Chief Executive Officer and Managing Director of Skyewise Group, an automobile firm, has explained the reason for establishing a branch of the company in Benin City, the Edo State capital, describing the ancient city as “a growing economy full of enormous potential for vibrant youth.”

He added that the company considers Edo State one of the most interesting states, noting that the decision aligns with its long-term vision.

Abuyere, who spoke in Benin on Monday while taking journalists on a tour of the new automobile facility, said:
“We started very small — from Abuja to Lagos and now Benin. It is a joy and privilege for us to have completed this amazing regional office with Skyewise Group.”

According to him, beyond the automobile business, Skyewise Group is in Benin to invest in real estate, logistics, youth empowerment, and credit management. “Aand also to lend our support to what the Edo State Government is doing, knowing the fact that there is an agenda,” he added.

The young CEO urged youths in Nigeria, particularly those in Edo State, to embrace entrepreneurship, stressing that “we believe it is the future of Africa,” especially Nigeria.

He said Nigeria stands as the giant of Africa and that its youth must take bold steps in the entrepreneurship landscape.

According to Abuyere, to ensure Edo youths actualise their entrepreneurial potential, the company has prepared soft loans to help them start businesses, adding that Skyewise Group is not limited to automobile operations.

He said: “More importantly to us is youth empowerment. We want our youth to be empowered, and this is where the Skyewise Foundation comes in.

“We believe the future of Africa is entrepreneurship, and that future lies in the hands of the young people of Nigeria. We want to empower them to stand the test of time, build something meaningful, and reduce unemployment and insecurity in our land.

“I believe we need to begin taking bold steps by refining the mindset of our young people. We need to give them a sense of belonging and direction.

“We have been addressing the liquidity gap in society by providing microloans to support businesses in our environment and in Benin City.”

When asked why he chose Benin City for the multi-billion naira automobile firm, Abuyere noted: “I think this is the first automobile showroom in Edo State where you can see a car lifted from the ground floor to the first floor and beyond.”

Business

JUST IN: Nigerian Filling Stations Reduce Fuel Price After Hike

Published

4 days ago

May 2, 2026

Editor

Nigerian filling stations reduced their Premium Motor Spirit price on Saturday, barely 24 hours after the hike.

Checks by DAILY POST showed that Ranoil, Empire Energy, and other filling stations in Abuja adjusted their petrol pumps to N1,365 and N1,375 per litre respectively, down from N1,440 per litre on Friday.

This means that petroleum marketers dropped their fuel price by N65 and N75 per litre. DAILY POST reports that the move was to attract patronage from customers.

Recall that three days ago, Nigerian filling stations had raised their petrol pump price to between N1,365 and N1,440 nationwide after Dangote Refinery and depot owners increased ex-depot prices to around N1,275 and N1,290 per litre.

According to DAILY POST, while the Nigerian National Petroleum Company Limited and MRS Bovas filling stations raised their petrol price to around N1,365 per litre, others adjusted theirs above N1,440 per litre.

However, with the latest fuel price reduction by Ranoil and Empire Energy, the majority of filling station outlets now dispense petrol between N1,365 and N1,375 per litre.

This development comes as the ripple effect of crude oil prices continues to impact Nigeria’s domestic fuel price.

Brent and West Texas Intermediate crude rose to $114 and $105 per barrel before dropping to $108 and $101 after the filing of this report.

Business

Dangote Refinery Hikes Petrol Price

Published

7 days ago

April 29, 2026

Editor

Dangote Refinery has increased the ex-depot price of petrol by N75.

The refinery announced the increase on Wednesday, hiking the the price from N1,200 to N1,275 per litre.
In the same way, coastal prices have gone up to N1,215 per litre.

This adjustment amid Brent crude trading at $114.80 per barrel marks a 3.15% increase.

DAILY POST reports that Brent crude has increased to $115 per barrel, while West Texas Intermediate rose to $103 per barrel on Wednesday.