By Adedapo Adesanya

The Lagos State Electricity Regulatory Commission (LASERC) is targeting improved energy efficiency and the reduction of electricity supply hiccups to meet demand from the commercial sector.

The chief executive of the commission, Mr Temitope George, while listing the development agenda, vowed to make LASERC the foremost electricity regulator in Nigeria, reaffirming its commitment “to be the leading electricity regulator facilitating sustainable electricity and enhancing the quality of life for all residents in Lagos State.”

Mr George spoke at the close of the organisation’s maiden three-day capacity-building retreat, which had in attendance members, senior government officials, regulatory experts, and industry stakeholders to deliberate on key issues shaping electricity regulation and market development in the state.

With the theme Strengthening Regulatory Framework and Institutional Capacity for a Sustainable Electricity Market in Lagos State, the forum served as a platform for knowledge exchange, policy alignment, and institutional learning aimed at sharpening regulatory effectiveness and electricity governance in Lagos.

Speaking at the event, the chairman of the House Committee on Energy and Mineral Resources, Mr Sabur Oluwa, assured the commitment of the Lagos State House of Assembly to support policies and legislative frameworks that will promote sustainable power development and improved electricity service delivery for residents of the state.

Also, the Attorney General and Commissioner for Justice, Mr Lawal Pedro (SAN), highlighted the role of legal and institutional frameworks in ensuring effective regulation and alignment with the broader developmental priorities of Lagos State.

Delivering a presentation on the strategic implementation plan and electricity policy overview, the commissioner for Energy and Mineral Resources, Mr Biodun Ogunleye, noted that a well-structured regulatory framework is essential for attracting investment, improving infrastructure, and ensuring a reliable electricity supply across the state.

The permanent secretary of the ministry, Mr Abdulhafiz Toriola, stressed that effective collaboration within the public service is critical for the successful implementation of policies that will strengthen the electricity sector and enhance service delivery.

The general manager of the Lagos State Consumer Protection Agency, Mr Afolabi Solebo, shared insights on strengthening consumer protection mechanisms and improving complaint resolution within the electricity market, while the director general of the Lagos State Public Procurement Agency, Mr Fatai Onafowote, highlighted the role of procurement processes in ensuring transparency and efficiency in public sector projects.

By Modupe Gbadeyanka

The federal government has reaffirmed its commitment to strengthening human capital development and institutional collaboration in Nigeria’s oil and gas sector.

The Permanent Secretary in the Ministry of Petroleum Resources, Mrs Patience Oyekunle, during a familiarisation and courtesy visit to the Petroleum Technology Development Fund (PTDF) in Abuja on Monday, described the organisation as a strategic institution within Nigeria’s petroleum sector architecture.

According to her, the organisation’s mandate to develop indigenous human capacity for the oil and gas industry remains critical to the long-term sustainability, competitiveness and technological advancement of the sector.

She lauded the body for its contributions to manpower development through its Overseas and In-Country Scholarship Schemes, which have supported the training of thousands of Nigerian professionals in petroleum and energy-related disciplines over the past two decades.

The senior government official noted that many beneficiaries of the programmes now contribute meaningfully across Nigeria’s oil and gas industry, regulatory institutions, academia and research establishments, thereby strengthening the country’s technical competence and knowledge base in the sector.

Mrs Oyekunle further reiterated that the ministry remains committed to advancing sector reforms and the strategic priorities of the federal government.

She stressed that the ongoing transformation of Nigeria’s petroleum industry following the enactment of the Petroleum Industry Act (PIA) places renewed emphasis on efficiency, transparency, institutional effectiveness and the strengthening of indigenous technical capacity across the sector’s value chain.

Earlier in his welcome address, the Executive Secretary of PTDF, Mr Ahmed Galadima Aminu, reaffirmed the fund’s commitment to supporting the policy direction of the federal government and working closely with the ministry to further strengthen Nigeria’s petroleum industry.

By Adedapo Adesanya

The United Kingdom government has welcomed a surge in Nigerian-led business expansion across Britain, as banks, fintech firms and creative enterprises commit millions in new investments and job creation, further strengthening bilateral economic ties between both countries.

According to a statement from the Foreign Commonwealth and Development Office (FCDO), this reinforces the UK’s appeal as a global hub for innovation, capital access and regulatory stability and comes as President Bola Tinubu is set to commence a state visit on Wednesday, March 18, for the first time in 37 years.

It noted that the expansion means hundreds of new jobs are set to be created as Nigerian banks, fintech innovators and creative industry businesses scale up their operations.

“The move will see millions invested, reinforcing the UK’s position as a leading global business hub, backed by world‑class talent, strong access to capital, and a stable regulatory environment – while showcasing Nigeria’s expanding role as a key source of innovation and investment into the UK, growing both economies,” the statement said.

Speaking at a reception held at Kensington Palace on Monday, Deputy Prime Minister David Lammy said the UK’s Trade and Industrial Strategies, combined with commitments made through the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP), mean the government is attracting investment into key growth sectors, including financial services, technology, education and advanced manufacturing.

“The UK and Nigeria’s Strategic Partnership is bringing momentum and opportunity to innovators in both our countries. We are reducing barriers, creating jobs and opening new pathways for growth. Growth is the core mission of this government, and it underpins our relationship with Nigeria. I am deeply proud that the cultural and commercial bonds between our nations are thriving and that both our businesses and people are feeling the benefits of that.”

On his part, Business and Trade Secretary, Mr Peter Kyle said, “The UK and Nigeria share a belief in the power of enterprise, innovation and education to transform lives, and today’s commitments show exactly that. With Nigerian firms creating jobs across the UK and British businesses expanding into one of the world’s fastest growing markets, our partnership is strengthening both economies and delivering real benefits for people in both countries.”

Zenith Bank, one of Nigeria’s largest financial institutions, has opened its Manchester branch with the capacity to create up to 30 new direct jobs in a boost for the Northwest economy.

The bank is also exploring a 2027 London Stock Exchange listing to deepen its UK market presence and unlock long-term funding for UK-Africa growth.

The chief executive of Zenith Bank, Ms Adaora Umeoji, said, “The United Kingdom remains a key global financial centre. The opening of Zenith Bank, Manchester, therefore, marks another important milestone in our international expansion strategy, enabling us to deepen relationships with our customers, support trade and investments, and connect businesses between Africa and the UK more effectively.”

Fidelity Bank’s acquisition and rebrand of Union Bank UK into FidBank UK plans to double its 62‑person workforce in 2026 and add new capital, while the Fidelity Group makes London its global hub.

FCMB has also selected the UK as the first international destination for its digital cross-border payments platform, boosting trade and investment flows between Africa and the rest of the world.

The statement revealed that seven Nigerian banks now operate in the UK, supporting at least 1,000 jobs in total.

Nigerian fintech investment is also accelerating rapidly with LemFi planning to invest £100 million over the next five years as it designates London its global headquarters, Moniepoint plans to grow its London based team to 100 employees in 2026, building the infrastructure that supports millions of African users worldwide, and Kuda Bank is strengthening its UK headquarters as the base for global expansion and plans to double its UK footprint in 2026.

On the creative end, EbonyLife, one of Nigeria’s leading creative industry brands, will launch EbonyLife Place London, creating up to 40 new jobs and strengthening the UK’s role as a home for African storytelling and creative talent.

The SCALE Creative Entrepreneur Award Programme, developed by the British Council and supported by the Department for Business and Trade, will support young Nigerian and UK creative entrepreneurs to grow internationally and build lasting ties to benefit both the UK and Nigerian creative economies.

The UK Advertising Exports Group is due to announce a strategic partnership with the Nigerian advertising sector. This will include a UK-Nigeria Advertising Summit taking place later this year and a talent exchange scheme which will deepen bilateral engagement.

The British Council and the Federal Ministry of Art, Culture, Tourism and Creative Economy in Nigeria will deliver the UK/Nigeria Season of Culture in 2028, involving a range of innovative initiatives and events designed by UK and Nigeria creative organisations.

A Creative Industries Roundtable at Lancaster House will bring together alumni, Chevening scholars and creative leaders from both countries.

Also, the partnership will also see British businesses benefit, including Twining’s Ovaltine launching a £24 million manufacturing facility in Lagos, its first in Africa, creating over 100 direct jobs and boosting the company’s exports across West Africa.

British fintech Wise will receive approval for its first Nigerian licence, enabling it to expand in a remittances market valued at up to £39.9 million and the Nigeria Sovereign Investment Authority (NSIA) has signed an agreement with Asset Green Ltd to explore a large-scale integrated dairy project that will strengthen Nigeria’s dairy value chain, reduce reliance on imports and improve nutrition.

Leading UK universities are also expanding into Nigeria, helping train the next generation of Nigerian and British scientists, technologists and innovators. Nigeria is a key education partner and a priority country for the UK’s International Education Strategy.

The University of Birmingham and the University of Lagos have signed a new agreement to deliver programmes in Applied AI, Digital Communications and Global Surgery. The London School of Economics (LSE) has launched a new Data Science partnership with Nile University of Nigeria, alongside the University of the West of England, opening a dedicated office in Lagos.

Wellington College International Lagos will open in 2027, offering places for 1,500 students – becoming one of West Africa’s flagship British curriculum schools and EStars, a UK‑owned educational esports and technology company, will partner with the Lagos State Ministry of Basic and Secondary Education to deliver esports‑based digital learning programmes to around three million students.