Connect with us

NEWS

Stakeholders Decry 300% Electricity Tariff Hike

Published

on

Share

Some power experts have expressed their dissatisfaction with the 300 per cent increase in electricity tariffs approved by the Nigerian Electricity Regulatory Commission (NERC).

In separate interviews on Wednesday in Lagos, the experts lamented that such an increase would further burden electricity consumers across the nation.

The announcement of the tariff hike was made by Mr Musiliu Oseni, the Vice Chairman of NERC, in Abuja on Monday.

Oseni clarified that the 300 per cent increase would specifically impact Band A consumers, constituting only 15 per cent of the total electricity customers nationwide.

As a result, power distribution companies (DisCos) will be permitted to raise electricity prices to N225 ($0.15) per kilowatt-hour, up from the previous rate of N68 for urban consumers, effective April 1.

Reacting to the development, Mr Adeola Ilori, the National Coordinator of All Electricity Consumers Protection Forum, condemned the sudden tariff hike, asserting that it was implemented without due process.

Ilori emphasised that the increase should have followed the prescribed procedures outlined in NERC’s regulatory directives, as mandated by law.

He said that the magnitude of the increase, purportedly a minor review, was like a major review, necessitating thorough scrutiny and consultation with all stakeholders.

Ilori hinted at potential legal action by the group to challenge the tariff hike, citing violations of the Electricity Act 2023 and consumer protection regulations.

Meanwhile, Mr Lanre Elatuyi, an electricity market analyst, acknowledged the inevitability of the tariff increase, attributing it to fluctuations in the dollar and gas prices.

Elatuyi explained that with the government unable to subsidise electricity for all consumers, the burden falls on those capable of bearing the actual cost of electricity, particularly Band A customers.

He stressed the importance of ensuring that Band A customers receive the promised hours of supply, urging strict adherence to service standards.

However, Mr Chinedu Amah, founder of Spark Nigeria Ltd., raised concerns about the clarity and monitoring of Band A classification, warning of potential exploitation if not properly defined and regulated.
(NAN)

NEWS

SEC Seeks Investor Education, Partnership with Nasarawa

Published

on

Share

By Tony Obiechina, Abuja

The Securities and Exchange Commission (SEC), Nigeria, has intensified efforts to promote financial literacy, strengthen investor protection and expand participation in the Nigerian capital market through its Capital Market Awareness, Unclaimed Funds and Investor Education Outreach Programme held in Lafia, Nasarawa State.

The programme brought together representatives of relevant institutions, academia and other stakeholders to promote awareness of investment opportunities, facilitate access to unclaimed dividends and other investment assets, and educate the public on measures to guard against fraudulent investment schemes.

Among those present were representatives of the ICMR, the Probate Registry, key departments of the Securities and Exchange Commission, academia and the National Population Commission. Their participation underscored the importance of institutional collaboration in addressing the challenges associated with unclaimed investments and improving public understanding of the capital market.

Members of the SEC Board who attended the programme also delivered goodwill messages, reaffirming the importance of investor education, public enlightenment and sustained efforts to protect investors while broadening access to the capital market.

A major highlight of the engagement was a courtesy visit by the SEC Chairman, Alhaji Mairiga Aliyu Katuka, to the Executive Governor of Nasarawa State, His Excellency, Engr. Abdullahi A. Sule, to appreciate the state government’s support and seek stronger collaboration in advancing investor education and financial inclusion.

During the courtesy visit, Katuka expressed appreciation to the Governor for providing strategically located office space in Lafia for the Commission’s liaison office.

The facility, situated within the complex previously occupied by the State Ministry of Education, is expected to become operational soon, bringing the Commission’s services closer to investors and residents of Nasarawa State.

The SEC Chairman described the gesture as a significant contribution to strengthening the Commission’s presence in the state and improving access to its services.

In his response, Governor Sule commended the SEC for its work in the Nigerian capital market, acknowledging the importance of the Commission’s regulatory role and its efforts to promote investor protection and strengthen confidence in the market. He also recognised the significance of initiatives aimed at improving public awareness of investment opportunities and encouraging informed participation in the capital market.

The Governor’s commendation highlighted the value of the Commission’s work in promoting a transparent and orderly market, while underscoring the importance of collaboration between the SEC and the Nasarawa State Government in advancing financial inclusion and economic development.

Katuka also commended the state government’s efforts to promote investment, enterprise, industrialisation and sustainable economic development, noting that Nasarawa’s growing economic potential makes it an important partner in expanding participation in the Nigerian capital market.

He explained that the Commission’s outreach initiative forms part of its nationwide efforts to improve financial literacy, promote legitimate investment opportunities, protect investors and assist Nigerians in recovering unclaimed dividends and other investment assets.

He solicited the state government’s support in mobilising business owners, cooperative societies, youth groups, market associations and other stakeholders to participate actively in the programme.

According to him, an informed population is better equipped to make sound financial decisions, protect its savings and contribute meaningfully to economic growth.

At the outreach programme, the Commission highlighted the challenge of unclaimed dividends and other investment assets, emphasising the need to ensure that investors can access funds rightfully belonging to them.

Unclaimed investments may arise from incomplete investor records, outdated shareholder information, changes in bank account details and difficulties associated with transferring investments following the death of an investor.

The Commission stressed that such funds represent the savings and investments of individuals and families and should be accessible to their rightful owners through established procedures.

To address the challenge, the SEC highlighted the enhanced e-Dividend Mandate Management System, which facilitates the direct payment of dividends into shareholders’ bank accounts and enables investors to update their records more conveniently.

Investors were encouraged to regularise their investment information and take advantage of the available facilities to facilitate the recovery of outstanding dividends.

The Commission also emphasised the importance of cooperation among registrars and other market stakeholders in improving record management, enhancing service delivery and resolving outstanding claims.

The programme further reinforced the SEC’s commitment to protecting investors, promoting financial literacy and expanding access to reliable information about the capital market. Through continued engagement with government institutions, academia, market stakeholders and the public, the Commission aims to strengthen investor confidence and encourage responsible participation in Nigeria’s financial markets.

Continue Reading

NEWS

Bauchi NAPTIP Records 70 Cases in 10 Months

Published

on

Share

The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) in Bauchi State has recorded 70 cases and secured three convictions from January to October, 2026.

Alhaji Atiku Kalli, State Coordinator of the agency disclosed this in an interview in Bauchi on Monday.

Kalli said other cases were ongoing in various courts, adding that the agency would not relent its efforts to bring perpetrators to book.

“From January to date, the agency was able to record 70 cases of trafficking including 25 victims that were rescued from trafficking situations involving foreign countries  in collaboration with the International Organisation for Migration (IOM).

“The agency in collaboration with relevant stakeholders is working to receive, profile and reintegrate returned migrants into their communities,” he said.

Kalli said that NAPTIP had intensified sensitisation campaigns reaching more than 50 communities in Bauchi within the year through physical engagements.

He said the campaigns involved visits to schools, motor parks and local communities, as well as engagements with relevant stakeholders.

“The agency is into raising awareness through radio and Television programmes to reach out to millions of listeners and viewers.

“We also engaged with women groups to promote activities around trafficking and Gender based Violence.

He identified prevention, protection, prosecution, partnership and policy as the agency’s five strategic approaches to combating human trafficking.

Kalli also disclosed that the agency has commenced investigation on complaints involving agents allegedly recruiting girls from rural communities to cities.

He said that NAPTIP was collaborating with relevant stakeholders working to protect women, children and other vulnerable persons from trafficking and exploitation.(NAN)

Continue Reading

NEWS

Police, POWA, POCACOV Call for End to Child Marriage

Published

on

Share

The Inspector-General of Police (I-G) Tunji Disu, has reiterated the commitment of the Nigeria Police Force (NPF) to ending child marriage and protecting the rights of the girl child.

Disu, represented by DIG Kene Onwumere, Deputy Inspector-General of Police in charge of Logistics, gave the assurance on Monday in Abuja at the commemoration of the 2026 International Day of the Girl Child.

The event was organised by the Police Campaign Against Cultism and Other Vices (POCACOV) and Police Officers Wives Association (POWA).

The IG said that NPF recognised that protecting the girl child was not merely a legal obligation, but also a moral and societal responsibility.

He therefore called on parents, religious leaders, educators and other stakeholders to work together to end child marriage and ensure that the girl-child was given the opportunity to pursue her dreams.

Speaking at the event, Sarah Ehindero, the keynote speaker, said every person below 18 years was still a child and deserved protection under the law.

Ehindero also said that the police had a responsibility to protect children and ensure that cases of abuse were properly handled.

”Protecting the girl-child is not an act of favour. The police are not doing you a favour by protecting your rights; we are performing our statutory duties,” she said.

She identified poverty, insecurity, gender inequality, harmful cultural practices and lack of access to education as some of the factors responsible for child marriage.

She said child marriage interrupted girls’ education, exposed them to early pregnancy and health risks, as well as limited their personal and economic development.

Also speaking, Mutiat Disu, National President of the Police Officers’ Wives Association (POWA), said child marriage deprived girls of education and exposed them to health risks and abuse.

Disu, represented by Zainab Mohammed, said poverty, social pressure and tradition should not be used as reasons to deny girls their rights, adding that children should be allowed to grow and discover their potential before taking on adult responsibilities.

”Marriage is for adults, not children. Let children remain children. Let girls learn, dream, grow and discover their potential,” she said.

She emphasised that educating girls would help them make informed decisions, raise healthier families, lead institutions and contribute to the development of society.

Superintendent of Police Orvenonne Ikwen, National Coordinator of POCACOV, said the programme was organised to remind stakeholders of the need to protect girls and support them to achieve their potential.

”If we educate a girl, we empower a family. If we protect a girl, we strengthen a community,” Ikwen said, urging girls to speak out whenever they faced danger or felt unsafe.

Similarly, Rasheedat Ajibade, Captain of the Super Falcons and special guest of honour, urged girls to take their education seriously, protect their dignity and avoid pressures that could affect their future.

”You deserve to be schooled, you deserve to be safe, you deserve to be heard, and you deserve the opportunity and time to become the woman you dream of becoming,” Ajibade said.

She said the Rashida Elizabeth Foundation, in collaboration with the Nigeria Police Force through POCACOV, was working towards creating a safer environment where girls could receive support and protection.(NAN)

Continue Reading

Advertisement

Top Stories

NEWS25 seconds ago

SEC Seeks Investor Education, Partnership with Nasarawa

ShareBy Tony Obiechina, Abuja The Securities and Exchange Commission (SEC), Nigeria, has intensified efforts to promote financial literacy, strengthen investor...

NEWS9 minutes ago

Bauchi NAPTIP Records 70 Cases in 10 Months

ShareThe National Agency for the Prohibition of Trafficking in Persons (NAPTIP) in Bauchi State has recorded 70 cases and secured...

NEWS12 minutes ago

Police, POWA, POCACOV Call for End to Child Marriage

ShareThe Inspector-General of Police (I-G) Tunji Disu, has reiterated the commitment of the Nigeria Police Force (NPF) to ending child...

NEWS15 minutes ago

Bauchi NAPTIP Records 70 Cases in 10 Months

ShareThe National Agency for the Prohibition of Trafficking in Persons (NAPTIP) in Bauchi State has recorded 70 cases and secured...

NEWS17 minutes ago

Ododo Pledges to Key into Tinubu’s Economic Reforms

ShareFrom Joseph Amedu, Lokoja Kogi State Governor, Alhaji Ahmed Ododo, has promised to key into President Bola Ahmed Tinubu’s economic...

view point20 minutes ago

Nigeria: Outsourcing the Presidency, One Infirmity at a Time

ShareBy Chidi Odinkalu Nearly 20 years ago, while stumping for his party, the Peoples’ Democratic Party, out-going president, Olusegun Obasanjo,...

COVER22 minutes ago

Nigeria, Germany Deepen Economic Cooperation, Strengthen Partnership

ShareBy Tony Obiechina, Abuja The Federal Government has reaffirmed its commitment to strengthening Nigeria’s bilateral relations with Germany, with renewed...

NEWS24 minutes ago

Wike Unites APC, PDP Leaders Behind Tinubu 2027 Bid

ShareBy Tambaya Julius, Abuja The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has declared himself the field commander...

NEWS26 minutes ago

PFIPC Saga: Court Strikes Out Eight-Count Forgery Charge Against ‘DG’

ShareBy Tambaya Julius, Abuja The Federal High Court in Abuja on Monday struck out an eight-count forgery charge against Prince...

NEWS1 day ago

2027: Yona Donates APC Campaign Banner, Seeks Constituents Support

ShareBy Tambaya Julius, Abuja The Councillor representing Tattara/Kondoro Electoral Ward and Chief Whip of the Karu Legislative Council, Hon. Barr....