General
MAP: DisCos Process 250,000 Applications for Prepaid Meters
By Dipo Olowookere
Not less than 250,000 applications for prepaid meters have been received and processed so far by distribution companies (DisCos) across the country under the Meter Asset Provider (MAP) Regulation of 2018.
The MAP policy was created by federal government through the Nigerian Electricity Regulatory Commission (NERC) to close the current metering gap of about 5.3 million consumers.
Nigeria’s Vice President, Mr Yemi Osinbajo, while speaking at the commissioning projects of Niger Delta Power Holding Company (NDPHC) in Abeokuta on Thursday, August 15, 2019, said efforts were being made to ensure all unmetered electricity consumers are reached.
“On May 1 2019, MAPs, commenced meter rollout; over 250,000 applications have been received and processed by DisCos to date and of course, that is then supposed to be forwarded to MAPs for installation.
“This figure is expected to quadruple by the end of 2019, and double by the end of 2020, largely closing the current metering gap of about 5.3 million consumers,” the Vice President said.
However, he stressed that the DisCos were underperforming, saying that they lack the capacity to supply power to end users because of infrastructure.
“Despite the availability of 8,000MW of generation and 7,000MW of transmission capacity, the lack of DisCos’ infrastructure to absorb and deliver grid power to end users has largely restricted generation to an average of about 4,000MW and sometimes falling below 4,000MW.
“Apart from the lack of infrastructure is the inability of DisCos, first, to provide distribution assets generally and also metering, and you have heard what the MD of TCN said about the unavailability of distribution assets, there is also the unavailability to provide metering to consumers.
“In resolving this issue, the Federal Government stepped in through the Nigerian Electricity Regulatory Commission’s (NERC) Meter Asset Provider (MAP) Regulation of 2018. This is essentially regulation to provide metering, through independent or third parties to consumers all across Nigeria,” he said.
According to the Vice President, “In the past few years, resolving the power supply problem has been top priority for the Federal Government of Nigeria.”
He said, “Today, we have about 13,427MW of installed capacity, and an available capacity of about 8,342MW. This was achieved through the efforts of government and its private sector partners in the rehabilitation and commissioning of turbines in Shiroro, Egbin, Delta Power, Sapele and Gbarain.
“Before the end of the year, new generation is expected from Gbarain and an extra 115 MW; Kashimbilla (40 MW); Afam III Fast Power (240 MW); Gurara (30 MW); Dadin Kowa (29 MW); and Kaduna (215 MW).”
Mr Osinbajo stated that, “In the long term, several solar plants will come on stream. The national grid already has the capacity to transmit 7,000MW, an increase from less than about 5,000MW in 2015 and this is due to the completion and improvement of several transmission projects.
“We have been told by the MD of NDPHC, Mr Chiedu Ugbo, the completion of projects already done by TCN, like the Ikot Ekpene switching station and the completion of the Ikot Ekpene-Ugwuaji-Makurdi-Jos loop, which was done by the NDPHC in 2017.
“But distribution capacity in the 11 DisCos are significantly low, hovering at around 4,000MW on average with a peak of about 5,400MW.”
He described the commissioning of Thursday’s projects as “an important part of the federal government’s efforts to improve the supply and quality of power to homes and businesses in Nigeria.”
According to him, it was part of efforts to open up the space for private sector into the power sector to open up the market to satisfy energy consumers in the country.
“The whole idea of it is to create a regime whereby there can be more willing-buyer-willing seller arrangements. It is in my view completely impossible, to satisfy Nigeria’s power demands from the national grid alone.
“There must be independent power suppliers and this why we have all these regulations for micro-grid and other willing-buyer-willing-seller arrangements and that is the way by which we can go forward and ensure that we are able to serve many of the unserved and underserved communities that we have today.
“These polices when fully implemented, will enable the opening up of the market to new investors in generation, transmission and distribution infrastructure, transacting directly with each other, to serve willing customers and this is the way which the Federal Government will proceed to ensure that we increase some more opportunities to existing DisCos and to other investors who may wish to serve Nigeria’s huge power market, which of course, at the moment is terribly underserved,” he said.
Mr Osinbajo said, “Federal Government is committed to ensuring that we have adequate power supply both in our home and also in our various places of business.
“Power supply is the life blood of any economy and we will remain committed to ensuring that power supply is adequate everywhere.
“Just as you heard, it is certainly not going to be a short walk, but as we have seen, from all what we have heard so far, there so much to be done and we are committed to doing it.
By Aduragbemi Omiyale
One Mr Taofeek Daniel Oriola has been convicted and sentenced to nine years’ imprisonment for money laundering.
He was sentenced by Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos, on Monday, May 11, 2026.
His journey to the correctional centre started when he used part of the proceeds of his unlawful activity derived from fraudulent cryptocurrency transactions to acquire some properties, which have now been forfeited to the federal government.
The said properties include a 2014 Range Rover (Supercharged) with VIN Number SALGS3TF7EA180971, a five-bedroom apartment with boys’ quarters in the Ibeju-Lekki area of Lagos State, a parcel of land measuring 653.479 square metres situated at Ibeju-Agbe in Ibeju-Lekki, and one iPhone 16.
The convict, in April 2026, committed the offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.
Mr Oriola was brought before the court by the Economic and Financial Crimes Commission (EFCC) on a three-count charge bordering on money laundering and concealment of proceeds of unlawful activities.
“That you, TAOFEEK DANIEL ORIOLA (Male), adult, sometime in April 2026 in Lagos State, within the jurisdiction of this court, engaged in the disguise of the true source of a 2014 Range Rover (Supercharged) with VIN No. SALGS3TF7EA180971, which you knew formed part of the proceeds of your unlawful activity derived from fraudulent cryptocurrency transactions, and you thereby committed an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.
“That you, TAOFEEK DANIEL ORIOLA (Male), adult, sometime in April 2026 in Lagos State, within the jurisdiction of this court, engaged in the disguise of the true source of a five-bedroom apartment with boys’ quarters situated at Ibeju-Agbe, in the Ibeju-Lekki area of Lagos State, which you knew formed part of the proceeds of your unlawful activity derived from fraudulent cryptocurrency transactions, and you thereby committed an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act,” two of the three charges read.
After pleading “guilty” to the charges when read to him, Justice Osiagor sentenced him to three years’ imprisonment on each count, to run concurrently, with an option of a N200,000 fine on each count. The judge also ordered him to undertake seven days of community service.
Nigeria’s real estate industry has experienced significant growth over the years, with developers now moving beyond basic land sales to building smart cities, luxury apartments, lifestyle estates, and integrated residential communities.
At the same time, concerns around fraud and failed projects have made trust, transparency, and delivery capacity more important than ever, especially for diaspora investors looking to own property back home.
From Lagos to Abuja and other emerging cities, several companies have distinguished themselves through innovation, infrastructure, quality developments, and customer confidence. Here are some of the top real estate companies in Nigeria in 2026.
- LandWey Investment Limited
LandWey remains one of the most influential names in Nigeria’s modern real estate sector. Headquartered in Lagos, the company has built a strong reputation around smart infrastructure, lifestyle communities, and futuristic urban development.
Their flagship project, Isimi Lagos, is one of the most talked-about developments in the country. The project combines residential living with wellness infrastructure, recreation, technology hubs, and eco-friendly concepts.
LandWey’s developments are largely concentrated along the Lekki-Epe corridor, where they continue to shape conversations around premium residential investment.
- Palton Morgan Holdings
Palton Morgan Holdings has established itself as one of Nigeria’s leading luxury real estate developers, particularly within the high-end Lagos and Abuja property markets.
The company is known for premium residential developments that combine smart living, luxury architecture, and modern urban design. Their projects are recognised for sophistication, premium finishing, and strong lifestyle appeal.
Some of their major developments include Paramount Twin Towers, L5 Banana, Rockhampton, The Meadows, and Kadars Gate.
Mshel Homes Limited is a fast-growing real estate development company that is increasingly recognised as one of the top real estate companies in Nigeria, particularly in Abuja’s expanding property market. Known for its structured developments and strategic site selection, the company has earned a reputation as a trusted real estate company delivering modern residential and mixed-use projects.
Its portfolio spans over 60 estates in key locations across Abuja, Lagos, Kano and Yola. Mshel Homes outlets in Kaduna, Port Harcourt, and Maiduguri.
Mshel Homes is a driver of sustainability and is known for eco-friendly, innovative projects with flexible payment options, which continue to attract both homebuyers and investors seeking long-term value in Nigeria’s evolving real estate sector.
Mshel Homes Limited has rapidly grown into one of the most respected and trusted real estate companies in Nigeria. Established in 2018 and headquartered in Abuja, the company is widely recognised for its integrity, transparency, honesty, and commitment to delivering value.
In an industry where credibility matters greatly, Mshel Homes has built a reputation around verified property documentation, quality construction, sustainable living, and affordable luxury.
One of its landmark projects is Hutu Exclusive, a luxury golf resort estate on Airport Road in Abuja. Widely regarded as Nigeria’s first golf resort estate, the development combines luxury living with wellness, recreation, and lifestyle infrastructure.
The estate gained national recognition after winning the “Best Branded Lifestyle Project of the Year, 2025” award at the Africa Housing Show.
Mshel Homes has a reputation for delivering amazing projects, as evident in Asokoro, Guzape, Gaduwa, Katampe Extension, and Airport Road in Abuja, among others.
- Cosgrove Investment Limited
Cosgrove has earned a strong reputation as one of Nigeria’s leading smart real estate developers. Headquartered in Abuja, the company focuses heavily on technology-driven communities and energy-efficient residential developments.
Cosgrove is recognised for integrating automation, smart security systems, and modern infrastructure into its projects, making its estates particularly attractive to professionals and investors seeking contemporary urban lifestyles.
Their emphasis on innovation gives them a unique advantage in Nigeria’s evolving property market.
- Veritasi Homes and Properties
Veritasi Homes has grown significantly through aggressive expansion and investment-focused developments. The company has become highly visible within the Lagos real estate market and is particularly known for flexible payment plans and land banking opportunities.
Their projects appeal strongly to both local and diaspora investors looking for long-term property appreciation and strategic investment locations.
Veritasi continues to strengthen its position as one of Nigeria’s fast-rising real estate brands.
- Dantata & Sawoe Construction Company Nigeria Limited
Dantata & Sawoe remains one of the oldest and most established construction and infrastructure companies connected to Nigeria’s real estate sector.
Unlike many modern developers focused mainly on residential estates, the company’s strength lies in engineering expertise, large-scale infrastructure projects, and urban development execution.
- Efab Properties Limited
Efab Properties has maintained relevance for years within Abuja’s real estate market. The company became known for delivering residential estates and housing projects targeted at middle and upper-middle-income buyers.
Its long-standing presence in the Federal Capital Territory continues to contribute to its recognition in Nigeria’s property industry.
- Nest & Nails Limited
Nest & Nails has emerged as a fast-growing real estate company focused on modern residential developments and lifestyle-oriented communities.
The company has gained attention for blending luxury aesthetics with practical housing solutions while maintaining strong market visibility and branding.
Their developments continue to attract younger homeowners and upwardly mobile investors.
- Brains & Hammers
Brains & Hammers is widely regarded as one of the most structurally ambitious real estate companies in Nigeria.
The company became prominent through large-scale residential developments, urban housing projects, and premium estates across Abuja and other cities.
Their strength lies in delivering infrastructure-heavy developments that combine affordability with modern living standards.
- Bilaad Realty
Bilaad Realty continues to build recognition within Nigeria’s competitive property market through residential estate projects and investment-focused developments.
Although still growing compared to some industry giants, the company is steadily expanding its footprint and increasing brand awareness within key investment locations.
Final Thoughts
Nigeria’s real estate industry is becoming increasingly sophisticated, with developers now competing beyond land sales alone.
Today, the leading companies are those building smart cities, lifestyle communities, luxury developments, and infrastructure-backed estates while maintaining transparency, trust, and long-term value for investors and homeowners.
By Adedapo Adesanya
The Lagos State government has approved 14 licences to private operators for off-grid generation, embedded power, independent distribution, metering, and mini-grid services as part of efforts to reshape the electricity landscape in the commercial capital.
The approvals were issued by the Lagos State Electricity Regulatory Commission (LASERC) at its maiden stakeholder engagement in Lagos, signalling the formal activation of the state’s decentralised electricity market.
At the centre of the new framework is a clear shift away from dependence on the national grid towards a structured, state-driven electricity system built on private investment and localised power supply.
Late last month, Business Post reported that the state signed Power Purchase Agreements (PPA) with three firms- Fenchurch Power, Mainland Power, and Viathan for about 60MW of generation, to increase capacity to serve major public facilities in the state.
Under the new licences, Axxela Limited will develop a 5.8MW off-grid power project at Cadbury Nigeria’s facility in Agidingbi. Daybreak Power Solutions Limited secured multiple off-grid generation approvals across major industrial sites, including Seven-Up, Nigerian Breweries, NBC, Crown Flour Mill, Nigerdock, and Promasidor.
Isolo Power Gen Limited also received approval for a 9MW embedded generation project along the Apapa–Oshodi corridor, one of Lagos’ busiest industrial zones.
In addition, Isolo Power Supply Limited was licensed as an Independent Electricity Distribution Network operator. New Hampshire Capital, GossLink Engineering, and Enaro Energy Mini-Grid Limited were approved for metering services and mini-grid operations.
LASERC said the licences are designed to deepen private sector participation and improve electricity reliability across industrial clusters, estates and peri-urban communities where supply remains unstable.
According to the commission, Lagos is building a decentralised electricity model that allows generation and distribution to operate closer to end users rather than relying solely on the national grid.
It noted that the move is to improve access, reduce losses and attract long-term investment into power infrastructure.
The state has set an ambitious target of achieving 97.5 per cent electricity availability by 2030, alongside reducing market losses to below 10 per cent through a performance-driven structure.
As part of the rollout plan, LASERC will introduce two to three 24-hour electricity franchise zones by October 2026. These zones are expected to serve as pilot districts for uninterrupted power supply under private management.
The commission is also preparing a full metering push, targeting 100 per cent coverage by July 2026. Consumer complaint centres will begin operations in phases from August 2026, starting with Amuwo Odofin, followed by Ikorodu and Epe.
One of the most notable reforms is the introduction of the “Electric Eye of Lagos” (EEL) programme, an AI-enabled metering and monitoring system designed to track consumption, reduce estimated billing and improve revenue collection. The pilot phase is expected to begin in October 2026.
LASERC also confirmed that draft market rules will be released in October 2026, finalised by December 2026, and supported with regulatory sandbox guidelines to encourage innovation in the electricity sector.
The reforms are built on the Lagos Electricity Law signed in 2024, which formally created the state’s independent electricity market and empowered LASERC to regulate generation, distribution and tariffs within the state.
That law replaced the earlier 2018 power sector reform framework and marked a structural shift in how electricity is governed in Nigeria’s commercial capital.
In March 2026, the Lagos State Government inaugurated the LASERC board, giving full operational backing to the regulatory framework.
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