General
NDPHC Seeks Support to Develop Small Hydro Plants
By Adedapo Adesanya
The Niger Delta Power Holding Company (NDPHC) is seeking the assistance of the Ministry of Water Resources to develop small and medium hydro projects in the country.
The Managing Director/Chief Executive Officer of NDPHC, Mr Chiedu Ugbo, sought this support when he led the management team on a courtesy visit to the Ministry of Water Resources in Abuja.
Mr Ugbo explained during the visit that the company was looking at setting up small hydro plants on existing dams in the country, especially those in the northern part of the country.
He said: “We are here to pay you a courtesy visit and at the same time let you know what our programmes are with regards to renewable so that we can start discussing with your ministry in earnest how we can develop small hydro resources around the country, preferably, in the northern part of the country because of the quality of electricity in the area”.
He noted that though the company has 10 power generation plants with eight linked to the national grid with about 4,099 megawatts, most are located in the southern part of the country and are unable to generate optimally due to poor transmission and distribution infrastructure.
According to him: “We have 4,099 megawatts but not all are taken in the grid due to systemic problems. If you check today, we have 500 – 700 megawatts on the grid. That is not to say our machines are bad, it is because of transmission and distribution challenges.
“In those areas too, NDPHC has done significant work. We pride ourselves on having invested about 50 per cent of the transmission assets in the country. We have invested heavily in transmission and distribution assets all over the country, in every state.
“We have also invested in solar home systems. We started from not just underserved but unserved communities. We did 20,000 in the first phase called beyond the grid programme.
“We started the second phase in Kazuare Emirate in Bauchi State with 100,000 connections.
“But having developed our thermal plants reasonably, we thought it is time to move to the next phase of our project development and that phase is where after optimizing gas resources, we have to optimize other resources we have for power generation.
“In renewable energy, we are working on solar, not just stand-alone but also mini-grid and on utility-scale, that is on one side. We also thought that part of the programme is the hydroelectric and the best way to start it is the dams.”
The NDPHC boss said the company was interested in the dams especially those with hydroelectric capabilities already installed or can be recovered.
On his part, the Minister of Water Resources, Mr Suleiman Hussein Adamu, who received the NDPHC team, explained that Nigeria has over 240 dams across the country with most having the capacity for hydropower.
The Minister, who pointed out that the dams have a capacity from 40MW and below, stated that most of the projects have been halted because of poor planning.
He said that most irrigation projects in the country require a lot of water which also needs a lot of electricity to operate.
He, therefore, urged NDPHC to support the projects by installing solar projects in the irrigation areas.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
