By Tony Obiechina, Abuja

Out of the total households in Nigeria connected to the national grid, 85.2 percent is on estimated billing while 14.8 percent is on prepaid billing, a new report by the National Bureau of Statistics (NBS) has revealed.

In addition, the average monthly expenditure of households on electricity was estimated at ₦4,155.

8 during the reference period.

The Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics, Adeyemi Adeniran disclosed this at a press briefing on the Nigeria Residential Energy Demand-Side Survey (NREDSS), 2024 Report, held at the NBS headquarters in Abuja.

Adeniran noted that over 58 percent of households is connected to the national grid across the nine states surveyed, and 86.

6 percent had electricity supply during the reference period.

He said the collaborative initiative NBS, the Federal Ministry of Power (FMP), the Energy Commission of Nigeria (ECN), the International Energy Agency (IEA), and the European Union (EU) was commissioned to assess and estimate the energy demand in the residential sector for the 2024 reference period.

According to him, the survey collected other valuable information that have produced insights into household energy usage patterns for cooking, lighting, and cooling.

“This is a very important exercise coming at this critical period in Nigeria, when energy demand, usage, and pricing have all been major topics of discussion in recent years,” he said.

He noted that the insights contained in this report provide sound evidence for policymakers, operators, and the general public to apply in these discussions, even as the government seeks better outcomes for the energy sector as a whole.

He pointed out that access to reliable and affordable energy is a fundamental human right and a cornerstone of economic growth, adding that the residential sector, which encompasses our homes, informal household businesses, and communities, is a major consumer of energy.

He noted that understanding the patterns, trends, and challenges within this sector is essential for developing effective policies and strategies to meet the nation’s energy needs.

In his words, “As the Coordinator of the national statistical system, it is a core part of our mandate to collaborate with relevant stakeholders to produce data that meet the needs of users both within and outside the country.

“It is in this regard that NBS collaborated with the partners on this project to provide the leadership and technical expertise for the conduct of this exercise, to address residential energy demand in Nigeria”, he said particularly as the population continues to rise.”

He said the main objective for the conduct of the survey, which was conducted in 9 states as a pilot case study, is borne out of the need to have a comprehensive understanding of energy consumption patterns among Nigerian households, stressing that through this survey, we have gathered valuable data on a range of factors, including:

Energy consumption patterns, Access to electricity, Energy affordability, and Energy efficiency, adding that insights gained from this survey will inform Nigeria’s policymaking and planning efforts.

Prince Adeniran who shared  some of the key highlights from the survey, said about 41 percent of households reported purchasing fuelwood, closely followed by cutting/collection (39.0 percent), and only 18.9 percent of households used other means such as barter, gift, borrowing etc.

He said more than half of the fuelwood cut/collected by households, 55.3 percent were branches, stems, and trees, adding that  an estimated 67.8 percent of households used the fuelwood either for domestic, agricultural, commercial, cultural, or religious purposes.

He said the survey also found that one in every five households (22.0 percent) used charcoal during the reference period. Among households using charcoal, 21.6 percent purchased the product, and only 0.3 and 0.6 percent acquired it through their own production, and other means respectively.

He noted that the results of the survey showed that 19.4 percent of households reported using liquefied petroleum gas (LPG) during the reference period. This means that about one in every five households use LPG. The average monthly expenditure on LPG stood at N10,239.7 across the surveyed states.

He said NBS will continue to work and collaborate with all relevant and interested partners to see that we provide the necessary information that our growing users require for their work, but equally also, build a well-coordinated and responsive statistical system that within short notice, can provide timely data to address emerging issues.

By Mike Odiakose, Abuja

Peoples Democratic Party (PDP) yesterday announced the rescheduling of its much talked about National Executive Committee (NEC) meeting originally set for today to Nov. 28.

This decision was taken at an enlarged meeting of the PDP Governors’ Forum in Abuja on Tuesday.

According to the umbrella party, this is to bolster the party’s unity and strength its preparedness for the governorship elections in Ondo State on Nov.

16.

Last week, pressure was mounted on the Acting National Chairman, Umar Illya Damagum to send out notice for the NEC meeting.

However, the party chairman did not bulge and the PDP Governors’ Forum had to intervene to forestall unpleasant consequences.

The PDP NEC meeting, which constitutionally is supposed to hold at least once in every quarter was initially scheduled to hold in Aug. but was shifted to Oct.

Damagum’s reluctance to call for the NEC meeting may not be unconnected to calls for him to step aside and allow the party pick a substantive national chairman from the North Central Zone.

Damagum, who is from Yobe, in the Northeast is expected to revert to his position as Deputy National Chairman (North) as soon as a substantive national chairman emerges.

Failure on the part of the chairman to convene the NEC meeting triggered the recent crisis in the party’s National Working Committee (NWC) leading to a gale of suspensions and counter suspensions of NWC members.

In the heat of the NWC crisis, an appointed Acting National Chairman, Yayari Ahmed Mohammed approved Oct 24 date for the NEC meeting and directed the North Central PDP leaders to meet and nominate a candidate for national chairman for NEC to consider and  ratify.

The PDP Board of Trustees (BoT) in a communiqué released after its meeting about 14 days ago urged the leadership of the party to ensure the Oct. 24 NEC meeting holds as agreed by stakeholders.

It took the intervention of the PDP Governors Forum to resolve the crisis.

The governors, led by Governor Bala Mohammed of Bauchi State therefore convened an enlarged meeting in Abuja Tuesday night.

A communiqué after the meeting emphasized the importance of solidarity among party members, urging them to refrain from divisive rhetoric that could weaken the PDP’s efforts to consolidate its position as the main opposition party ahead of the 2027 elections.

“The need for unity in the face of efforts by detractors to divide the party cannot be overstated,” the communiqué stated.

It called on all members to focus on strengthening the party to effectively challenge the ruling government.

The meeting was attended by key party organs, including the Board of Trustees, NWC, the National Assembly Leadership of the PDP Caucus and the Forum of Former Governors.

Governor Mohammed who signed the communiqué reiterated the party’s commitment to a united front as they approach the critical electoral period.

The communique read, “The PDP Governors’ Forum under the leadership of H.E. Governor Bala A. Mohammed, CON, held an enlarged meeting at the Bauchi State Governors’ Lodge, Tatari Ali House, Asokoro on Tuesday, October 22, 2024.

“Rising from the consultative meeting of the various organs of the Peoples Democratic Party, PDP, the Party resolved as follows:

“The National Executive Committee, NEC, meeting originally slated for October 24, 2024, has been rescheduled to November 28, 2024.

“The postponement is to ensure that the party goes into the forthcoming Ondo gubernatorial elections of November 16, 2024 with the unity and strength demanded to unseat the floundering All Progressive Congress, APC government in the state.

“Reiterating the need for unity in the face of efforts by detractors to divide the party, the meeting called on all members to shun divisive utterances that could undermine ongoing efforts at strengthening the party to effectively play its role as the country’s main opposition, preparatory to taking over in 2027.

“The following organs of the party attended the meeting – the PDP Governors’ Forum, the Board of Trustees, National Working Committee (NWC), National Assembly Leadership of the PDP Caucus and Forum of Former Governors of the party.”

United Bank for Africa (UBA) Plc, has posted N525.31 billion Profit after tax for the third quarter ended Sept. 30.

The bank disclosed this in its unaudited financial report filed with the Nigerian Exchange Ltd.(NGX) on Monday in Lagos.

This indicates 16.9 per cent increase, from N449.

26 billion posted in 2023.

Its profit before tax also rose by 20.

2 per cent to close at N603. 48 billion, compared to N502.09 billion recorded in the same period of 2023.

The bank’s gross earnings for the quarter grew by 83.2 per cent to N2.398 trillion, up from N1.308 trillion recorded in the corresponding period of 2023.

Also, its net interest income for third quarter stood at N1.

103 trillion, indicating 149 per cent surge from N443.0 billion posted at the end of the third quarter of 2023.

Group Managing Director, UBA, Mr Oliver Alawuba, said that the bank continued to maintain a strong balance sheet in the period under review, with total assets rising to N31.801 trillion.

Alawuba added that the figure represented 54.0 per cent increase over the N20.653 trillion recorded at the end of December 2023.

He noted that the bank benefitted largely from its technology-led initiatives, targeted at improving customer experience over the past few years, with its total deposits rising to N26.50 trillion.

According to him, this shows 52.7 per cent increase from N17.355 trillion at the end of the last financial year.

Alawuba further said UBA’s shareholders’ funds grew to N3.585 trillion from N2.030 trillion recorded in December 2023, due to strong capacity for internal capital generation and growth.

The GMD noted that the group continues to record strong and sustainable growth in its various revenue streams, building on its strong performance earlier in the year.

According to him, the bank’s performance has been underpinned by consistent strong growth on all core and sustainable banking income lines.

“The UBA group achieved a profit before tax of N603.5 billion and our intermediation business continues to show strong growth with net interest income expanding by 149 per cent Year-On-Year to N1.10trillion.

“NIM closed at 8.03 per cent, which is 17.60 per cent above the 2023 position, despite persisting macroeconomic headwinds, geopolitical tensions, insecurity, inflationary pressure and exchange rate volatilities across our markets.

“Our substantial investments in technology are yielding tangible business value. This commitment is instrumental in delivering enhanced customer experiences and optimising operational efficiency,”he said.

Commenting, the bank’s Executive Director, Finance and Risk, Mr Ugo Nwaghodoh, expressed excitement on the milestone reached in driving operational efficiency.

Nwaghodoh said this was reflected in cost-to-income ratio normalising around the 50 per cent range.

He stated that the growth recorded on the shareholders’ funds demonstrated the group’s significant capacity for future growth.

On plans to consolidate the bank’s performance for the rest of the 2024 financial year and beyond, Nwaghodoh said, “We remain on track with various strategies to optimise our cost of funds and operating expenses.

“The group has finalised plans to shore up its share capital to support its medium to long term aspirations, whilst aligning with the recent regulatory requirement in Nigeria and other jurisdictions.

“UBA remains committed to sustainable growth in its core banking revenue lines and maintaining its strong compliance and risk management culture, even as the group identifies further opportunities to expand.”UBA is a Pan-African financial institution offering banking services to more than 45 million customers, across 1,000 business offices and customer touch points in 20 African countries. NAN