News

Suspend Implementation Of New Electricity Tariff, Reps Tell NERC

Published

2 years ago

April 30, 2024

Editor

The House of Representatives has called on the Nigerian Electricity Regulatory Commission to suspend forthwith the implementation of the new electricity tariff nationwide.

Recall that NERC recently mandated electricity distribution companies to charge Band A consumers increased tariffs in a move aimed at ensuring a stable power supply for those who can pay for it.

However, many Nigerians accused NERC of migrating most consumers to Band A even as they complained of epileptic supply.

Coming under the motion of urgent public importance at the resumption of plenary on Tuesday, a member representing Ivo/Ohaozara/Onicha Federal Constituency, Ebonyi State, Kama Nkemkanma, reminded his colleagues of the need to address key issues surrounding “The sudden hike in electricity prices in Nigeria.”

He noted that the motion “Highlights concerns over due process, fairness, and the impact on consumers. The motion aims to restore public trust, protect consumer rights, and ensure regulatory accountability in the Nigerian Electricity Supply Industry.”

He said, “What’s more concerning are the reports indicating discrepancies in customer categorisation and widespread complaints regarding inadequate service despite increased charges. This situation has not just sparked national anxiety, but it also threatens regulatory certainty and investor confidence in the sector, demanding immediate attention.

“This motion argues for legislative intervention, underlining our constitutional and moral obligations to address the crisis and alleviate the burden on Nigerian citizens. It places a strong emphasis on the legislative oversight role over NERC and the electricity utilities.”

According to the Labour Party chieftain, “Key issues highlighted include the failure of due process in approving the tariff increase, concerns over discriminatory practices, and the disputed nature of government subsidies to electricity distribution companies.

“The motion proposes resolutions to suspend the recent tariff increases, establish a special committee for hearings involving relevant stakeholders, appoint a technical consultant to assess the legality and reasonableness of NERC’s procedures and draft a bill to improve regulatory processes in tariff setting.

“Overall, this motion underscores the importance of legislative action to address the challenges facing the electricity sector and ensure fair treatment of consumers while promoting transparency and accountability in regulatory decision-making.”

Following the adoption of the motion, the House ordered NERC to suspend the operation of the new tariff.

It also resolved to set up a special committee made up of the Committees on Power, Commerce, Delegated Legislation and National Planning to organise a well-structured hearing on the price regulation of NESI with the participation of the Minister of Power, Chairman and Commissioners of NERC, the CEO of all electricity utilities in Nigeria, President of the National Industrial Court, Trade Union Congress and leaders of chambers of Nigerian.

The House also resolved to appoint a well-regarded former regulator as technical consultant to the House “To develop templates for determination of the legality and reasonableness of the procedure adopted by NERC in approving the tariff increase and establishing the performance benchmarks for the Discos.”

It further authorised the consultant to work with the special committee to draft a bill “To provide for administrative procedures that entrench proper consultation and legislative review of the process for tariff setting in the electricity and other public services in Nigeria.”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

3 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

3 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

5 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.