Business
FG deploys 668,000 meters, moves to end estimated billing
In a move aimed at reducing estimated billing and closing the country’s metering gap, the Federal Government has deployed 668,000 electricity meters under Phase One of the $500 million World Bank-financed Distribution Sector Recovery Programme (DISREP).
The figure represents about 60 per cent of the 1,033,000 meters delivered under the programme, as the government intensifies efforts to ensure that registered electricity consumers are accurately metered.
The development was disclosed at the second 2026 meeting of the National Council on Privatisation (NCP), chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja.
Briefing journalists after the meeting, the Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, said the council received updates on the implementation of various initiatives designed to improve service delivery and strengthen the electricity sector.
He said the metering initiative remained a key component of ongoing efforts to address challenges in the power sector and improve transparency in electricity billing.
“On various issues, we provided updates on meter deployment under Phase 1 of the World Bank-financed Distribution Sector Recovery Programme. We have implemented 60 percent of the meters that have been delivered in the country out of 1,033,000. So far, we have deployed and installed 668,000 meters on customers’ premises,” Gbeleyi said.
He said the metering initiative, alongside programmes such as the Presidential Metering Initiative, was designed to address the metering deficit and eliminate estimated billing for electricity customers.
Gbeleyi also disclosed that about 17 states had established their own State Electricity Regulatory Commissions since April 2024 as part of the implementation of the Electricity Act.
He noted that Akwa Ibom State became the latest state to establish its own electricity regulatory commission in July.
According to him, some aspects of the implementation of the Electricity Act require further clarification and harmonisation among relevant stakeholders.
He said the NCP had directed the Attorney-General of the Federation, Minister of Power, Special Adviser to the President on Power, Special Adviser to the President on Oil and Gas, Nigerian Electricity Regulatory Commission (NERC), BPE and other stakeholders to engage on the necessary amendments to the law. “Some fine-tuning is required here and there in the implementation of that Act,” Gbeleyi said.
“Council has directed those stakeholders, led by the Attorney General of the Federation, the Honourable Minister of Power, the Special Adviser on Power, the Office of the Special Adviser to the President on Oil and Gas, the Nigerian Electricity Regulatory Commission, the BPE and all other critical stakeholders, should engage constructively so as to streamline and harmonize the Federal Government’s position in terms of the required amendments to fine-tune the Electricity Act.”
Also speaking, the Minister of Power, Joseph Olasunkanmi Tegbe, said the Federal Government was working collaboratively to ensure Nigerians derive greater value from electricity and other critical sectors of the economy.
“We are working concertedly and in a very collaborative manner to ensure that we give value, either in electricity or in telecoms—whichever area—to make sure that Nigerians benefit from this government,” Tegbe said.
The meeting was attended by the Minister of Finance and Coordinating Minister of the Economy, who is the Vice Chairman of the council; the Minister of Power; the Solicitor-General, representing the Attorney-General of the Federation; the Minister of Industry, Trade and Investment; and private members of the council.
The NCP meeting formed part of ongoing efforts by the Federal Government to strengthen reforms in the power and other critical sectors of the economy.
Business
DataPro to host international credit rating webinar in October
DataPro Management, a licensed and regulated credit rating agency, has announced plans to host its 2026 International Rating Webinar in October.
The webinar, scheduled for October 8, 2026, at 2 p.m. West Africa Time, will focus on the theme, “Sovereign Credit Rating: Africa’s Roadmap to Investment Grade Status.”
The event will bring together experts and stakeholders in the credit rating and public finance sectors to examine Africa’s sovereign credit outlook and strategies for achieving investment-grade status.
Panelists for the webinar include Torsten Schmidt, Head of Macroeconomics and Public Finance Research, RWI; Daniel Cash, Founder, Credit Rating Research Initiative; Oluwakemi Babalogbon, Executive Director, Risk Management, Ministry of Finance Incorporated (MOFI); Kai Gehring, Professor of Political Economy, University of Bern; and Misheck Mutize, Lead Expert on Credit Rating Agencies, African Peer Review Mechanism (APRM).
Oladele Adeyemi, Chief Rating Officer, DataPro, will moderate the session.
Stakeholders in the credit rating industry, financial sector and the media are expected to participate in the webinar, which is free to attend.
The organisers said the event would provide participants with an opportunity to gain insights into sovereign credit ratings and the steps African economies can take to attract investment and improve their credit standing.
Business
Nestlé pays premium to farmers embracing regenerative agriculture
Nestlé Nigeria has rewarded smallholder farmers with premium payments for adopting regenerative agricultural practices as stakeholders commemorated the 2026 International Day of Desertification and Drought in Zaria, Kaduna State.
The event, organised by TechnoServe Nigeria with support from the Alliance for a Green Revolution in Africa (AGRA) and Nestlé Nigeria, recognised farmers championing land restoration and climate resilience through the Strengthening Farmers and SMEs Resilience through Climate-Smart Grain Production (STreFaS) project.
Held under the theme, “Restoring Land. Rewarding Farmers. Building Resilience,” the programme brought together government officials, development partners, agricultural experts, agribusinesses and farmers to explore practical solutions to land degradation and promote sustainable food production.
As part of the event, farmers from Kaduna and Nasarawa states who successfully implemented regenerative agricultural practices during the 2025 farming season received financial incentives from Nestlé Nigeria.
According to the organisers, the premium payments are designed to encourage the adoption of sustainable farming methods that improve soil health, boost agricultural productivity and strengthen farmers’ resilience to the effects of climate change, including drought, erratic rainfall and declining soil fertility.
The three-year STreFaS project has supported thousands of smallholder farmers and agribusinesses in adopting climate-smart farming techniques such as minimum tillage, cover cropping, agroforestry, mulching, integrated pest management, soil testing and water conservation.
The organisers noted that the initiative is helping to restore degraded land while improving crop yields, enhancing food security and strengthening the livelihoods of farming communities.
Speaking at the event, the Country Director of TechnoServe Nigeria, Mrs Adesuwa Akinboro, represented by the Director of Programmes, Mr Shadrack Gusuu, said healthy soils remain the foundation of food security and sustainable agriculture.
He said, “The International Day of Desertification and Drought reminds us that healthy soils are essential for food security, resilient livelihoods, and sustainable agricultural development. Through the STreFaS project, we are equipping farmers with practical regenerative agriculture solutions that improve productivity while restoring the natural resources on which farming depends.”
Representing Nestlé Nigeria, Mr Alidu Amadu reaffirmed the company’s commitment to building sustainable food systems through regenerative agriculture.
According to him, “Farmers are at the heart of this transformation. Through the premium payment initiative, we are recognising and rewarding farmers who are taking deliberate steps to improve soil health, restore degraded land, and strengthen the resilience of their farms.”
Also speaking, Dr Esther Ibrahim of AGRA called for stronger collaboration to address land degradation through farmer-focused interventions.
She said climate-smart agriculture has proven to be an effective approach to improving farm productivity while restoring the environment, adding that sustained investment and collective action remain critical to achieving lasting results.
The event highlighted the growing importance of regenerative agriculture as a sustainable solution for combating desertification, improving climate resilience, and securing the future of smallholder farming in Nigeria.
Business
Electric vehicles in Nigeria set for growth, says Tim Motors CEO
The Chief Executive Officer of Tim Motors, Mr Leon Zhan, has expressed optimism about the future of new energy vehicles in Nigeria, saying their acquisition and use will increase significantly in the coming years in line with global trends.
Speaking during an interactive session with journalists in Lagos on Friday, Zhan identified high acquisition costs and inadequate infrastructure as major challenges facing prospective buyers of electric and other new energy vehicles in the country.
Despite these constraints, he said ongoing improvements in the economy and rising purchasing power among Nigerians would help address the obstacles and accelerate the adoption of cleaner transportation technologies.
According to him, Nigeria’s relatively low electric vehicle penetration presents a significant opportunity for investors seeking to tap into the growing market for sustainable mobility solutions.
Zhan noted that increasing concerns over rising fuel prices could further drive interest in electric vehicles, making the sector an attractive area for future investment and expansion.
He expressed confidence that as awareness grows and supporting infrastructure improves, Nigeria will witness increased demand for new energy vehicles across various segments of the transportation industry.
“If you are deciding on an investment, you have to see the trend and space to grow. This is very important. Currently, electric vehicles have just about one or two per cent penetration in this market. In other markets like China, the penetration is about 70 per cent. So, if you look at the trend, you see the potential for growth in Nigeria,” he stated.
The CEO added that Chinese car companies are investing in Nigeria due to the size of the market, and they will be increasingly affordable.
He said: “Your country, Nigeria, is growing. So your purchasing power is also growing, and so, I’m sure years later, more and more people can afford Chinese cars with better and better prices.”
Tim Motors, he stated, would establish stations in several cities across the country to provide after-sales support for electric vehicles. This follows its recent introduction of Geely Galaxy new energy vehicles into Nigeria, under a sole distributorship arrangement with Geely Auto, one of China’s major forces in the country’s transition to new-energy mobility.
He also revealed that the company has put infrastructure in place in Abeokuta to facilitate local vehicle assembly in the country.
According to him, the decision by the company to introduce electric vehicles has been properly thought through, and it includes providing robust after-sales support to customers across the country.
He added that the company was aware of customers’ concerns about after-sales support, local availability of parts and access to power to charge their vehicles.
These issues, he explained, informed its decision to establish a special partnership arrangement to address customer issues and provide support centres across major cities in Nigeria.
“Many people ask how long and how far it is for them to get support if their EV cars have issues. This is why we have designed a system whereby we work with partners who will handle such. We have 10 already. We will have some in major cities like Abuja, Kano and Port-Harcourt in the coming months,” he said.
Zhan further revealed that Tim Motors has a plan whereby people who purchase their vehicles can easily get support within a five-kilometre radius of their residence or offices.
He added that the company has a professional team in China that is dedicated to sourcing and delivering parts for their vehicles in Nigeria.
He further revealed that more Geely Galaxy brands would be introduced in the coming months, stating that the EX2, EX5 and EX5 EM-I were just the first brands being brought into the market.
He added that the technology of Chinese electric vehicles was better than that of many other major auto manufacturers, and yet they are 20 to 30 per cent more affordable.
It will be recalled that Tim Motors recently introduced three Geely Galaxy models, the EX5 EM-i, the EX5, and the EX2, designed to meet diverse customer needs across the Nigerian market.
The EX5 EM- i is a smart family SUV that combines petrol and electric power for an extended driving range of more than 1000km, reduced fuel consumption, and lower emissions. For Nigerian families who want to spend less time at the fuel station and more time on the road, the EX5 EM-i delivers.
The EX5 is a value-focused mid-size SUV with a premium, tech-forward interior and over 430 km of driving range.
The EX2 is an all-electric subcompact hatchback built for the realities of city life. Affordable, intuitive to drive, and remarkably efficient, it is the answer for commuters tired of fuel queues and rising running costs.
Geely, which owns globally recognised brands including Volvo Cars, Polestar, and Lotus, has built a strong reputation for innovation, quality, and intelligent vehicle technologies across both New Energy Vehicle (NEV) and Internal Combustion Engine (ICE) markets. It ranks seventh globally by annual vehicle sales, with over 3.4 million units sold, placing it among the world’s most successful automotive manufacturers. Its footprint continues to grow across international markets.
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