General
AfDB 2021 Electricity Regulatory Index Ranks Nigeria 21
By Adedapo Adesanya
Nigeria’s electricity sector emerged as the 21st best regulated across a number of key metrics, according to the African Development Bank’s (AfDB) 2021 Electricity Regulatory Index.
The 2021 Electricity Regulatory Index, an annual report, covered 43 countries, up from 36 in the previous edition, and assessed their impact on the performance of their electricity sectors. The index covered three countries in the North Africa region; 14 in West Africa; 6 in Central Africa; 7 in East Africa; and 13 in the Southern Africa region.
According to the report, Nigeria has an index between 0.600 to 0.799 which indicates a substantial level of regulatory development. This means that many elements of a supportive regulatory framework are established, although there are weaknesses that do not permit the regulator to have a strong capacity, legal and institutional structures.
Meanwhile, the Ugandan electricity sector is the best for the fourth consecutive year while other strong performers include East African neighbours, Kenya and Tanzania, as well as Namibia and Egypt.
Among the 2021 report’s key highlights are that regulatory independence is one sub-indicator where African countries have room to improve: in 93 per cent of sampled countries, governments, and stakeholders exercise influence over regulatory authorities.
In terms of regulatory substance, participating countries scored lowest on the adequacy of their tariff setting and frameworks, as well as licensing frameworks when compared with best practices.
According to the report, the average performance of economic regulation has continued to decline since 2018. A third of countries surveyed indicated they lack methodologies to determine tariffs; another 40 per cent rely on tariff methodologies that do not include key attributes such as automatic tariff adjustment and tariff indexation mechanisms and schedule for major tariff reviews.
Speaking on this, Mr Kevin Kariuki, the AfDB’s Vice President for Power, Energy, Climate and Green Growth said, “The unprecedented participation of so many countries shows the commitment to strengthen the countries’ regulatory environment with a view to improving the performance of the respective electricity sectors”.
On his part, Mr Wale Shonibare, AfDB Director for Energy Financial Solutions, Policy and Regulation, commended the top-performing country.
“Uganda topping the rankings consecutively for four years comes as no surprise to many, as the regulator spends significant time on consultation and analysis, including regulatory impact assessments of key interventions and follow-through to ensure full implementation,” he said.
Outside stakeholders also viewed the report’s results positively with Mr Abel Didier Tella, Director General of the Association of Power Utilities of Africa, saying, “It is interesting that the utilities in most of the top-performing countries in the Electricity Regulatory Index are listed on their national stock exchanges, which requires compliance with transparency in information sharing and good governance practice.”
Since its launch in 2018, the Electricity Regulatory Index has highlighted aspects of electricity regulation that need reform, identified appropriate areas for intervention, and encouraged stakeholders to be proactive in addressing challenges. Since then, the index has been widely adopted by regulators and other stakeholders across the continent as a benchmark for the regulatory environment as well as for ongoing reforms.
By Adedapo Adesanya
The new chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has assumed office with a clear message to advance the country’s upstream oil and gas sector in line with the mandate of the commission as enshrined in the Petroleum Industry Act (PIA) 2021.
According to a statement signed by Mr Eniola Akinkuotu, the Head of Media & Strategic Communications at the upstream regulator, the NUPRC boss made this assertation during her first town hall meeting with management and staff on Tuesday December 23, 2025.
She further disclosed plans to make the commission a business enabler and re-ignite investments in the upstream sector.
Recall that President Tinubu nominated Mrs Eyesan to take over the NUPRC after the abrupt resignation of her predecessor, Mr Gbenga Komolafe as well as his counterpart in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed.
In her new capacity, Mrs Eyesan also set a firm production ambition of growing Nigeria’s output and increasing gas production.
“The goal is that we must enable the industry, we are regulators. We must enable the industry from our interactions with the stakeholders, from our interactions with everybody.
“My main objective is to ensure that we make a difference. I believe the NUPRC is at the Center of the industry,” she said.
The commission boss who has served for over three decades in the oil and gas sector, promised to entrench digitisation, transparency and efficiency in operations.
The NUPRC head said with the support of staff and management, the NUPRC will become the gold-standard regulator in Africa. She also promised capacity development, stronger technical depth and sustained engagement with stakeholders, unions and professional teams.
On leadership style, Mrs Eyesan promised an open-door policy and frequent staff engagement, while also soliciting for support and cooperation as the industry embarks on the next phase of transformation.
“If we work together we can unleash opportunities, I don’t see impediments only opportunities,” she added.
By Adedapo Adesanya
President Bola Tinubu has called on Nigerians to embrace religious tolerance, peace, and unity, urging citizens of all faiths to reject violence and intolerance amid ongoing security challenges across the country.
In his 2025 Christmas goodwill message issued on Wednesday by his Special Adviser on Information and Strategy, Mr Mr Bayo Onanuga, the President emphasised that no Nigerian should suffer discrimination or violence because of their religious beliefs, reaffirming his administration’s commitment to safeguarding freedom of worship and national cohesion.
“As your President, I remain committed to doing everything within my power to enshrine religious freedom in Nigeria and to protect all people of different faiths from violence,” Mr Tinubu said, noting that all Nigerians have the constitutional right to live, worship, and pursue their aspirations in safety and dignity.
The President acknowledged growing concerns around religious intolerance and insecurity, revealing that he had engaged extensively throughout the year with leaders of Nigeria’s two major faiths.
In the last few months, the country faced a spate of attacks including kidnapping of school children and armed terror, involving the death of a high ranking army personnel.
He also said the government would continue to build on these engagements to strengthen collaboration with religious institutions, prevent conflict, and promote peaceful coexistence.
President Tinubu described Christmas as a period for reflection on the message of Jesus Christ as the Prince of Peace, urging Nigerians to draw inspiration from values of love, compassion, and goodwill that cut across all major religions.
He commended Christians in Nigeria for their contributions to national development, particularly their role in caring for the vulnerable and promoting harmony within communities.
“The love for God and love for humanity is at the heart of all the great faiths. These shared values must continue to bind us together as one indivisible and resilient people,” he said.
Reiterating his administration’s stance on security, the President said the government’s commitment to protecting Nigeria’s unity and stability has remained unwavering since he assumed office in 2023. He stressed that the state would not tolerate violence targeted at any group on the basis of ethnicity or belief.
President Tinubu also appealed to Nigerians travelling during the festive season to exercise patience and discipline on the roads, wishing them safe journeys and returns.
Expressing optimism about the country’s future, the President said that with faith in God and collective resolve, Nigeria would overcome its challenges and build a nation that future generations would be proud of.
He concluded by wishing Christians in Nigeria and around the world a Merry Christmas and Nigerians a happy New Year in advance.
By Adedapo Adesanya
The federal government has filed 16 alleged money laundering charges, to the tune of N1.014 billion, against a former Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN), and his son, Mr Abubakar Abdulaziz Malami, before the Federal High Court in Abuja.
Also listed as a co-defendant in the case is Hajia Bashir Asabe.
According to the charge, the government is accusing Mr Malami, his son, and others of being involved in the laundering and concealment of N1,014,848,500.00 allegedly traced to a commercial bank.
In the 16 charges, the Nigerian government alleged that between July 2022 and June 2025, within Abuja and the jurisdiction of the court, the defendants procured Metropolitan Auto Tech Limited to conceal the unlawful origin of the money.
The charge alleges, in part, that the defendants used the company as a front to conceal the origin and movement of the funds, an act the government says constitutes money laundering under Nigerian law.
The alleged offence is said to be contrary to Section 21(c) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same Act.
The 16 charges reveal how Malami allegedly engaged Metropolitan Auto Tech Limited to launder funds.
The charges are as follows:
“That you Abubakar Malami SAN, and Abubakar Abdulaziz Malami between July 2022 and June, 2025 in Abuja within the jurisdiction of this Honourable Court did procure Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of N1, 014, 848, 500.00 (One Billion, Fourteen Million, Eight Hundred and Forty Eight Thousand, Five Hundred Naira) in the Sterling Bank Plc Account No. 0079182387 when you reasonably ought to have known that the said sum formed proceeds of unlawful activities and you thereby committed an offence contrary to Section 21(c) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18(3) of the same Act.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, and Abubakar Abdulaziz Malami between September 2020 and February, 2021in Abuja within the jurisdiction of this Honourable Court did procure Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of N600,013,460.4 in the Sterling Bank Plc Account No. 0079182387 when you reasonably ought to have known that the said sum formed proceeds of unlawful activities and you thereby committed an offence contrary to Section 18(c) of the Money Laundering Prohibition Act 2011 as amended by Act No. 1 of 2012) and punishable under section 15(3) of the same Act
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Abubakar Abdulaziz Malami sometime in March, 2021 in Abuja within the jurisdiction of this Honourable Court did retain the total sum of N600,000,000.00 in Metropolitan Auto Tech Limited as cash collateral for a loan of N500,000,000.00 granted to RAYHAAN HOTELS LTD by Sterling Bank Plc when you reasonably ought to have known that the said cash collateral of N600,000,000.00 was proceed of unlawful activities and you thereby committed an offence contrary to Section 18(c) of the Money Laundering Prohibition Act 2011 as amendedpunishable under section 15(3) of the same Act
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, Abubakar Abdulaziz Malami, and Hajia Bashir Asabe an employee of Rahamaniyya Properties Limited sometime in November, 2022 in Abuja within the jurisdiction of this Honourable Court did indirectly disguise the unlawful origin of the aggregate sum of N500,000,000.00 paid to Efab Properties Ltd paid for purchase of property known as luxury duplex at Amazon street, Plot No. 3011 within Cadastral Zone A06 Maitama District, Abuja in favour of Abubakar Malami SAN when you reasonably ought to have known that the said N500million formed proceed of unlawful activity and you thereby committed an offence contrary to section 18(2) (a) and punishable under section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
“That you Abubakar Malami SAN, Abubakar Abdulaziz Malami, and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd sometimes in September 2024 in Abuja within the jurisdiction of this Honourable Court conspired to disguise the unlawful origin of the aggregate sum of N1,049,173,926.13 paid through the Union Bank Plc account of Meethaq Hotels Ltd Jabi savings Account No. 0179011105 between November 2022 and September 2024 and you thereby committed an offence contrary to Section 21 of the Money Laundering (Prevention and Prohibition Act) 2022 and punishable under Section 18(2) (a) and (3) of the same Act.
“That you Abubakar Malami SAN, and Abubakar Abdulaziz Malami between November 2022 and October, 2025 indirectly took control of the aggregate sum of N1,362,887,872.96 paid through the savings account of Meethaq Hotels Limited in Union Bank Plc when you reasonably ought to have known that the said funds formed proceeds of unlawful activity and you thereby committed an offence contrary to Section 18(2) (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd sometimes between November and December, 2018 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum of N700,000,000.00 paid for the purchase of the property described as No. 3 Onitsha Crescent Area 11, Garki Abuja (Hamonia Hotels Ltd) in favour of Abubakar Malami SAN when you reasonably ought to have known that the said sum of N700, 000,000.00formed proceeds of unlawful activityand you thereby committed an offence contrary to section 15(2) (d) and punishable under section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, Abubakar Abdulaziz Malami and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltdsometimes between September 2020 and December, 2020 in Abuja within the jurisdiction of this Honourable Court, indirectly concealed the aggregate sum of N850,000,000.00 paid for the purchase of property described as Plot 683 Jabi District Cadastral Zone B04 (Meethaq Hotels Ltd, Jabi) when you reasonably ought to have known that the said sum of N850, 000, 000.00 represented proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(2) (d) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Limited on or about February, 2018 in Abuja within the jurisdiction of this Honourable Court indirectly acquired the property described as No. 3 Rhine Street Maitama, Abuja (Meethaq Hotels Ltd) for an aggregate sum of N430,000,000.00 when you reasonably ought to have known that the said sum of N430,000,000.00 formed proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(2) (d) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended.”
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd sometimes on or about February, 2018 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum of N210,000,000.00 paid for the purchaseof the property described as No. 3130 Cadastral Zone A04 Asokoro District, Abuja in favour of Abubakar Malami SAN when you reasonably ought to have known that the said sum of N210, 000, 000,000.00 represented proceeds of unlawful activity and you thereby committed an offence contrary to section 15(2) (d) and punishable under Section 15(3) of the Money Laundering ( Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd between March and June 2021 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum of N325,000,000,000.00 paid for the purchase of property described as No. 1241B Asokoro District Zone (No. 11A Yakubu Gowon Crescent Asokoro) in favour of Abubakar Malami SAN when you reasonably ought to have known that the said sum of N325, 000, 000.00 represented proceed of unlawful activity and you thereby committed an offence contrary to section 15(2) (d) and punishable under section 15(3) of the Money Laundering ( Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd between November 2015 and January, 2016 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum of N120,000,000,000.00 paid for the purchase of property described as No. 27 Efab Estate 5th Avenue, 59th Crescent, Gwarimpa, Abuja in favour of Abubakar Malami SAN when you reasonably ought to have known that the said sum of N120, 000, 000.00 represented proceeds of unlawful activity and you thereby committed an offence contrary to section 15(2) (d) and punishable under section 15(3) of the Money Laundering ( Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SANwhilst being the Attorney-General of the Federation, Abubakar Abdulaziz Malami, and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd sometime in November, 2022 in Abuja within the jurisdiction of this Honourable Court did conspire amongst yourselves to conceal the unlawful origin of the funds paid for the purchase of property known as luxury duplex at Amazon street, Plot No. 3011 within Cadastral Zone A06 Maitama District, Abuja and you thereby committed an offence contrary to Section 21 of the Money Laundering (Prevention and Prohibition Act) 2022 and punishable under Section 18(2) (a) and (3) of the same Act.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, Hajia Bashir Asabe whilst being an employee of Rahamaniyya Properties Ltd and other persons at large between December, 2016 and April, 2022 in Abuja within the jurisdiction of this Honourable Court conspired amongst yourselves to indirectly acquire landed properties for Abubakar Malami SAN with proceeds of unlawful activity and you thereby committed an offence contrary to section 18 of the Money Laundering (Prohibition Act) 2011 and punishable under Section 15(2) (a) and (3) of the same Act.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, between June and January, 2023in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum N537,000,000.00 which you paid for the purchase of the properties namely (i) No. 26 Babbi Street, BUA Estate, Abuja, (ii) 4 bedroom Bungalow, Guesse 2 Brinin- Kebbi and (iii) No. 4 Ahmadu Bello Way, Kano, Nassarawa GRA, Kano knowing that the said sum of N537, 000,000.00formed proceeds of unlawful activity and you thereby committed an offence contrary to section 18(2) (a) and punishable under section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, between October 2018 and December, 2021 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the aggregate sum N415,000,000.00 which you paid for the purchase of the properties namely (i) No. 28 Bagudu Kaltio crescent Gwarimpa, Abuja (ii) Plot 13, Ipent 7 Estate Abuja and (iii) A Plaza, Commercial Toilets, Laundry and Warehouse Tanks Adjacent to Brinin Kebbi Market (iv) 100 hectares of land Along Brinin Kebbi, Jeba Road (v) Plot 157 Lamido Crescent, Nassarawa Road GRA, Kano knowing that the said sum of N415,000,000.00 formed proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(2) (a) and punishable under Section 15(3) of the Money Laundering Prohibition Act, 2011 as amended.”
Mr Malami served as Attorney-General and Minister of Justice from 2015 to 2023 under the administration of former President Muhammadu Buhari.
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