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 Aduragbemi Omiyale
The chief executive of the Nigerian Exchange (NGX) Group Plc, Mr Temi Popoola, has called for people-centric leadership, stressing this is the only way to navigate the multifaceted challenges of a globalized world.
He made this submission at the Taj Lands End Leadership Summit in Mumbai, India through his thought-provoking keynote address.
“Leadership is not just about the boardroom; it is about showing up authentically in every aspect of life,” Mr Popoola stated at the event themed Authenticity, Leadership, and Hope for the Future, reflecting on the vital role of spirituality and lifelong learning, crediting these pillars for providing strength and resilience during periods of uncertainty.
The summit provided a platform for the Nigerian business leader to share a narrative that was equal parts personal and strategic.
The views of the NGX Group chief reflected his diverse life journey, which spans an upbringing in the United Kingdom and Nigeria, a robust academic foundation in chemical engineering and finance, and a career marked by leadership excellence across continents and sectors.
He highlighted how these experiences shaped his global perspective and ability to drive innovation within complex organizational structures.
According to him, leaders must embrace self-awareness and empathy to build cohesive teams capable of delivering exceptional outcomes.
As the leader of one of Africa’s most prominent stock exchanges, he underscored that the strategic act of hiring and retaining the right talent and fostering a culture of collaboration is pivotal for long-term success.
Drawing from his experiences, he shared how challenges in leadership have been mitigated through lessons learned from mentors and the wisdom found in books, both of which continue to shape his decision-making process.
However, Mr Popoola expressed optimism for the future, particularly in developing nations like India and Nigeria, describing the youth in these regions as untapped reservoirs of innovation and growth, urging leaders to strategically invest in their development to unlock transformative potential.
He further articulated a clear vision for leadership that resonates across industries and geographies. He called on leaders to prioritize authenticity, champion continuous learning, and harness the power of human capital to address both immediate challenges and future opportunities.
His address was not only a call to action but also a strategic framework for navigating the evolving dynamics of global leadership.
By Dipo Olowookere
Manufacturers of sachet water, popularly known as pure water, have increased the price of a bag of the product by about 67 per cent in Lagos.
Business Post gathered that a bag containing 20 sachets of water, which usually sells for N300, is now being sold for N500.
This newspaper learned that the sachet water producers raised the price as a result of the rising production costs.
To enforce this new price hike, they embarked on a strike, making the product scare and imposing fines on members who were caught selling to the customers.
As a result of the new development, retailers now sell sachet water for N50 each and three for N100.
In 2015, this product was sold for N5 but due to rising inflation and high cost of production, the price has risen by 900 per cent in less than a decade.
By Adedapo Adesanya
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has revealed that the Supreme Court of Nigeria and 14 other bodies failed to meet the requirements of its 2024 Ethics and Integrity Compliance Scorecard (EICS).
This announcement highlights the failure of several key institutions to meet the required ethical standards and guidelines set by the ICPC for the year.
The chairman of the ICPC, Mr Musa Aliyu, while unveiling the EICS on Thursday in Abuja, said 330 Ministries, Departments, and Agencies (MDAs) were assessed in the outgoing year, but none achieved full compliance with the EICS.
The chairman, represented by the ICPC Director of Public Enlightenment and Education, Mr Demola Bakare, emphasised that the 15 non-compliant MDAs had completely failed to conduct any system studies or submit necessary financial and audit reports.
Mr Aliyu said among the non-compliant bodies were the University of Ibadan (UI), Obafemi Awolowo University (OAU), Ile-Ife, Legal Aid Council, Abuja, and Federal Teaching Hospital, Gombe.
Other entities on the list, he said included the Federal Civil Service Commission (FCSC), Abuja; Council of Nigerian Mining Engineers and Geoscientists; Institute of Chartered Chemists of Nigeria; the National Hajj Commission of Nigeria (NAHCON), and the National Obstetrics Fistula Centre, Ningi, among others.
The ICPC head warned that the ICPC would take appropriate actions, including enforcement measures, against these MDAs to ensure they complied with government directives.
In spite of the non-compliance of some agencies, the Chairman commended the Joint Admissions and Matriculation Board (JAMB) for emerging as the top performer in the EICS with a score of 89.75 per cent.
The Nigeria Railway Corporation (NRC) came second with 89.33 per cent, followed by Nigeria Bulk Electricity Trading Plc (NBET) with 88.73 per cent.
The assessment covered key indicators, including Management Culture and Structure (MCS), Governance and Executive Management, and Financial Management Systems (FMS).
It also examined Finance, Revenue, and Audit Processes, as well as Administrative Systems (AS), which included policies, ethics education, and whistle-blowing mechanisms.
The EICS serves as a preventive tool to assess and improve MDAs’ compliance with ethical standards, policies, and anti-corruption measures.
He said that the scorecard aimed to identify organisational gaps, provide actionable insights, advise the government on policy development, and foster self-evaluation within MDAs.
Mr Aliyu further revealed that between December 2023 and December 2024, the ICPC tracked 1,500 projects across 22 states valued at N610 billion.
“During this period, the commission recovered N346 million in cash, assets worth N400 million, and helped the government save N30 billion.
“The tool covered 323 responsive MDAs, with 15 categorised as non-responsive and high-risk for corruption,” he said, noting that no MDA achieved full compliance in 2024.
He attributed these results to the absence of whistle-blower policies, strategic plans, and effective stock verification units, adding that 29.55 per cent of MDAs achieved substantial compliance, 51.62 per cent partial compliance, 15.91 per cent poor compliance, and 2.92 per cent were non-compliant.
The chairman said ICPC would continue recognising MDAs with substantial compliance and deploying tools to promote integrity and accountability.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking6 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN