General
DisCos Generate N291.62bn Revenue in Q1 2024
By Adedapo Adesanya
The Nigerian Electricity Regulatory Commission (NERC) has indicated that power Distribution Companies (Discos) in the country made N291.62 billion in revenue in the first quarter of 2024.
The newly-released data showed that the N291.2 billion was from the N368.65 billion billed to customers, translating to a collection efficiency of 79.11 per cent, which represents an increase of over 5.32 per cent when compared with the 73.79 per cent recorded in the fourth quarter of 2023.
Aggregate Technical, Commercial and Collection (ATC&C) Loss in the period under review was 36.36 per cent comprising technical and commercial loss of 19.55 per cent and collection loss of 20.83 per cent, the report indicated.
This showed that the ATC&C loss improved by 5.75 per cent compared to the 42.11 per cent achieved in the preceding quarter.
The ATC&C loss provides a consolidated report of how much revenue a Disco can collect relative to how much it should have collected based on the volume of energy it received and sold to customers. It is the indicator that evaluates the actual energy and revenue loss in electricity distribution systems.
During the quarter, Ikeja was the only Disco that recorded a lower ATC&C of 15.81 per cent than its target of 18.73 per cent, the report added.
The inability of Discos to achieve their respective ATC&C targets meant that they were not able to recover the full revenues required to provide returns to investors.
In Q1 of 2024, the cumulative upstream invoice payable by Discos was N114.12 billion, consisting of N65.96 billion for adjusted generation costs from the Nigerian Bulk Electricity Trading Plc (NBET) and 448.16 billion for transmission and administrative services by the Market Operator (MO), the report stressed.
Out of this amount, the Discos collectively remitted a total of N110.62 billion, that is N65.52 billion for NBET and N45.10 billion for MO, with an outstanding balance of N3.50 billion.
According to NERC, this translates to a remittance performance of 96.93 per cent in the first three months of 2024 versus the 69.88 per cent recorded in the last three months of 2023.
The average energy offtake by Discos at their trading points during the period under review was 3,283.87MWh/h, which was a decrease of -429.29MWh/h (11.56 per cent) compared to the 3,713.16MWh/h recorded in the previous quarter.
In addition, the total energy received by all Discos in 2024/Q1 was 7,171.93GWh, while the energy billed to end-use customers was 5,769.52GWh, translating into an overall billing efficiency of 80.45 per cent, representing an increase of 2 per cent relative to the 78.45 per cent recorded in Q4 of last year.
General
Pastor Ogbueli’s Abuja Night of Glory Holds Today
By Blaise Udunze
Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.
The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.
The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.
Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.
Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.
The event is intended for all individuals trusting God for divine intervention in any area of life.
Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.
Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.
Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.
General
Rivers Speaker, 15 Other Lawmakers Leave PDP for APC
By Modupe Gbadeyanka
The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).
At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.
This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.
The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.
This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.
A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.
Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.
It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.
Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.
General
Nigeria Risks Brain Drain in Energy Sector—PENGASSAN
By Adedapo Adesanya
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.
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