Nigeria’s electricity Distribution Companies (DisCos) posted a stronger commercial performance in September 2025, achieving 86 per cent billing efficiency, according to the latest Commercial Performance Factsheet released by the Nigerian Electricity Regulatory Commission (NERC). The report offers a snapshot of how the 11 DisCos fared in billing, cash collection, and revenue recovery, all crucial indicators for liquidity and service delivery across the Nigerian Electricity Supply Industry (NESI). Billing improves as DisCos tighten processes In September, DisCos received energy worth N279.45 billion, successfully billing N241.54 billion to customers, translating to a billing efficiency of 86.43 per cent. This marks a 2.58…
Author: Elvis Eromosele
Nigeria’s Company Income Tax (CIT) revenue surged to N2.78 trillion in the second quarter of 2025, marking a strong 40.27 per cent increase from the N1.98 trillion collected in Q1. The data, released in the latest sectoral report by the National Bureau of Statistics (NBS), shows improved tax compliance and stronger corporate earnings across major sectors. Domestic firms drive growth Domestic CIT payments accounted for the bulk of the revenue at N2.31 trillion, while foreign CIT contributions stood at N469.36 billion. Biggest movers The financial and insurance sector posted the most dramatic growth, soaring by 772.29 per cent quarter-on-quarter. The…
Google.org, the charitable arm of Google, has announced a N3 billion (US$2.1 million) investment to accelerate Nigeria’s artificial intelligence capabilities and strengthen the country’s digital safety ecosystem. Unveiled on November 28, 2025, the funding targets two national priorities: building a pipeline of advanced AI talent and protecting millions of citizens from online risks. The move aligns with the Federal Government’s National AI Strategy and its goal of creating one million digital jobs. Analysts predict AI could contribute up to $15 billion to Nigeria’s GDP by 2030. Dr. ‘Bosun Tijani, Minister of Communications, Innovation and Digital Economy, described the commitment as…
Cadbury Nigeria Plc, a subsidiary of Mondelez International, today announced the appointment of Mrs. Folake Ogundipe, the current Finance Director, as interim Managing Director. This follows Mrs. Oyeyimika Adeboye’s retirement as Managing Director, effective Sunday, November 30, 2025, when she attains the Company’s retirement age. The announcement is contained in a statement issued by the Company. According to the statement, Mrs. Adeboye joined the Board of the Company in November 2008, as Finance and Strategy Director, West Africa. She was appointed Managing Director on April 1, 2019, becoming the first woman to be appointed to that role since the establishment…
Dr. Alex Otti, Abia State Governor, has submitted a N1.016 trillion budget proposal for the 2026 fiscal year to the Abia State House of Assembly. The spending plan, tagged “Budget of Acceleration and New Possibilities”, represents a 13 per cent increase from the 2025 appropriation. The presentation was disclosed in a statement issued by the Governor’s Chief Press Secretary, Ukoha Njoku Ukoha, on Wednesday. Huge Push for Capital Projects The proposal allocates N811.8 billion (80%) to capital expenditure and N204.4 billion (20%) to recurrent spending. According to Otti, the capital vote marks a 32 per cent rise from the…
The Federal Government says it plans to provide internet access to 20 million Nigerians by leveraging the capacity of the Nigerian Communications Satellite Limited (NigComSat). Dr. Bosun Tijani, Minister of Communications, Innovation and Digital Economy, disclosed this through Ajala Olubumi, Director of the National Centre for Artificial Intelligence and Robotics (NCAIR), at a public–private sector stakeholders’ roundtable hosted by the AI-powered telemedicine platform, MySmartMedic. The initiative comes weeks after NigComSat announced plans to generate N8 billion in revenue over the next three years by expanding broadband services nationwide. Connecting Underserved Communities Olubumi said telemedicine and other digital innovations rely…
Sheriff Oborevwori, Delta State Governor, on Wednesday, presented a N1.664 trillion Appropriation Bill for the 2026 fiscal year to the State House of Assembly during plenary in Asaba. Presenting the budget proposal, the governor announced that N499 billion (30%) is allocated to recurrent expenditure, while N1.165 trillion (70%) is earmarked for capital projects. He noted that the 2026 budget represents a N685 billion increase, about 70 per cent over the 2025 fiscal plan. Funding and Key Priorities Oborevwori said the budget will be funded through statutory allocations, internally generated revenue, mineral derivation funds, VAT, and other sources. A major focus…
The African Development Bank (AfDB) has approved a $500 million loan for Nigeria to fund the second phase of the Economic Governance and Energy Transition Support Programme. The approval was announced on Wednesday after the Bank’s Board of Directors met in Abidjan, Côte d’Ivoire. The policy-based loan covers the 2024 and 2025 fiscal years and is designed to accelerate structural reforms, strengthen fiscal management, and drive Nigeria’s transition to cleaner, more reliable energy. Abdul Kamara, Director General of the AfDB Group’s Nigeria office, said the second phase aims to “stimulate inclusive growth by accelerating structural reforms in the energy sector…
The Senate has endorsed a resolution prescribing the death sentence for anyone convicted of kidnapping or terrorism-related offences. Lawmakers also agreed that kidnapping should be classified as a terrorist act, urging amendments to the Terrorism (Prevention) Act to reflect the new maximum punishment. The decision followed intense debate on rising insecurity, triggered by the November 18 attack on Christ Apostolic Church (CAC), Eruku, in Kwara State, where two worshippers were killed and 38 abducted—later rescued through coordinated operations. The attack forced the closure of schools across five LGAs in Kwara, as well as shutdowns in Kebbi and Niger. All 47…
President Bola Tinubu has announced a significant boost to Nigeria’s security architecture, increasing police recruitment from 30,000 to 50,000 officers and formally backing the establishment of state police. The President made the declaration on Wednesday while announcing a nationwide security emergency, authorising both the Nigeria Police Force and the Armed Forces to recruit additional personnel to confront escalating insecurity across the country. Tinubu said the police would immediately recruit an extra 20,000 officers, while police authorities are now permitted to use NYSC camps as temporary training facilities to fast-track mobilisation. The President ordered officers removed from VIP escort duties to…