General
70% of Nigerians Lack of Access to Electricity—Shettima
By Adedapo Adesanya
Nigeria’s Vice President, Mr Kashim Shettima, has said between 40 and 70 per cent of Nigerians still lack formal access to electricity, underscoring the urgent need for reform in the nation’s power sector.
Mr Shettima worried that the power sector crisis is crucial for Nigeria’s economic development and industrialization, noting that countries like Indonesia, India, and South Africa, have overcome energy insufficiency and were now leading in economic advancement.
Speaking at the inauguration of the National Economic Council (NEC) Ad Hoc Committee on National Electrification at the Presidential Villa in Abuja, he urged leaders in the country to rise above differences to confront the power sector crisis and become part of the reincarnation of Nigeria as an industrialized nation.
The Vice President said there is no way Nigeria could dream of meaningful national economic development without addressing the power sector crisis and ensuring Nigerians have access to electricity and other affordable energy.
“An estimated 40-70 per cent of Nigerians have no formal access to electricity. There is no doubt that we cannot dream of meaningful national economic development without addressing the issue in the power sector and ensuring that Nigerians have accessible, available and affordable energy,” he stated, acknowledging the basic challenges in the nation’s power sector, especially the national grid which has been witnessing system collapse.
The VP, however, expressed hope that there will soon be significant improvement following the recent reforms in the energy sector which have opened the sector, “not only to the participation of, otherwise, excluded players, but also to attract investments, both foreign and local.
“I believe we are well endowed with resources, be it gas, hydro or solar, that allow us to have an optimal energy mix and leverage these resources to build a sector in a resilient manner that ensures energy security for every Nigerian,” he added.
The Vice President urged members of the National Electrification ad hoc committee to come on board and work for the nation.
“I wish you the best as you embark on this critical assignment, and I want to assure you of my availability as you discharge this onerous assignment. With this, I hereby inaugurate the NEC ad hoc committee on National Electrification Strategy and Implementation Plan,” Mr Shettima said.
On his part, the Chairman of the NEC Ad Hoc committee on National Electrification and Cross River State Governor, Mr Bassey Edet Otu, noted that the Vice President has empanelled the committee with four terms of reference to change the ugly history of incessant national grid collapse in the country, revealing that their next task is to get down to work, and do so assiduously until they produce credible, achievable and sustainable results.
“In the command list, one is to put an end to consistent grid collapse in the energy sector and to work towards deepening states’ engagement within the Electricity Reform Act 2023 to address the challenges in the power sector to the best expectation of Nigerians and the National Electrification Strategy and Implementation Plan.
“These tasks are tall but looking at the members of the committee, we are individually and collectively taller, especially in our avowed commitment to the Renewed Hope Agenda of Mr. President and the golden ethos of nation-building,” he said.
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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