General
NERC Begs FG Over Mounting Power Sector Debt
By Adedapo Adesanya
The Nigerian Electricity Regulatory Commission (NERC) said it had communicated the need for the federal government to intervene over the longstanding trend of non-payment and debts by international customers, and others to the power sector.
According to a report, as of the quarter under review, electricity Distribution Companies (Discos) and four international customers serviced by the Market Operator (MO), did not remit a total of N97.5 billion to the power sector in the fourth quarter of 2023.
Statistics obtained from the Nigerian Electricity Regulatory Commission’s 2023 fourth-quarter report, said the 11 DisCos held unto N81 billion, while four international customers (Paras SBEE, Transcorp SBEE, Mainstream NIGELEC and Odu-Pani-CEET ), did not remit $12 million (N16.5 billion when converted using N1,367/$1 rate) invoice issued to them by the MO for services rendered in the third quarter of 2023
This puts total debt by the DisCos and international customers at N97.5 billion for the period under review.
A breakdown of the explanation of the debt by the DisCos showed that in Q4 2023, the cumulative upstream invoice payable by DisCos was approximately N270 billion, consisting of N223 billion for generation costs from the Nigerian Bulk Electricity Trading (NBET) company, and about N47 billion for transmission and administrative services by the MO.
However, out of this amount, the DisCos collectively remitted a total sum of N188.7 billion (N156 billion for NBET and N32.5 billion for MO), with an outstanding balance of about N81 billion.
This translates to a remittance performance of about 70 per cent in Q4 2023 compared to the 76 per cent (remittance of N158 billion out of the total invoice of N208.7 billion) recorded in Q3 2023
The total revenue collected by all DisCos in Q4 2023 was N294.9 billion out of the N399.7 billion that was billed to customers. This translates to a collection efficiency of 74 per cent.
In comparison, the total revenue collected by all DisCos in Q3 2023 was N268 billion, out of the N349 billion billed to customers which translated to a 76 per cent collection efficiency. The 74 per cent collection efficiency recorded in Q4 2023 is –2.77 per cent lower than the efficiency recorded in the preceding quarter (76 per cent).
The report further detailed that none of the four international customers being supplied by GenCos in the Nigerian Electricity Supply Industry (NESI), made payment against the cumulative invoice of $12.02 million issued by the MO for services rendered in Q4 2023.
The report, however, noted that some international customers made payments during Q4 2023 for outstanding MO invoices from previous quarters.
It also said that there were no remittances by bilateral customers against the cumulative invoice of N1.9 million issued to them by the MO for services rendered in Q4 2023.
The recurrent delay of remittances by international and bilateral customers, NERC said should prompt the MO “to invoke the provision of the market rules to curtail the payment indiscipline being exhibited by the various market participants”.
The special customer (Ajaokuta Steel Co. Ltd and the host community) did not also make any payment towards the N0.72 billion (NBET) and N0.07 billion (MO) invoices received in the last quarter of 2023.
“This continues a longstanding trend of non-payment by this customer and the Commission has communicated the need for intervention on this issue to the relevant FGN ministries,” NERC added.
The power sector debt continues to rise, as the country battles inadequate power supply as a result of low generation.
The GenCos currently generate about 5,000 megawatts (MW) despite the grid having a combined capacity of about 12,000 MW making the Transmission Company of Nigeria (TCN) transmit the same to the DisCos for onward distribution to end users.
General
NISO Attributes Electricity Woes to Inadequate Gas Supply
By Adedapo Adesanya
The Nigerian Independent System Operator (NISO) has attributed the poor power supply facing a considerable number of Nigerians to inadequate gas supply to thermal power plants.
Business Post reports that epileptic power supply has plagued consumers in Lagos, Oyo, Abuja, and Osun, among others, this month, leading to worries. Also, some businesses have recorded losses due to the epileptic power supply in their areas.
In a statement posted on its X handle, NISO disclosed that average available generation on the national grid currently stands at about 4,300 megawatts (MW), with the low output primarily attributed to gas supply constraints.
The system operator noted that thermal power plants, which account for the dominant share of Nigeria’s electricity generation mix, require an estimated 1,629.75 million standard cubic feet (MMSCF) of gas per day to operate at optimal capacity. However, as of February 23, 2026, actual gas supply to the plants was approximately 692.00 MMSCF per day.
The available supply represents less than 43 per cent of the daily gas requirement, resulting in constrained generation output and reduced electricity allocation to Distribution Companies (DisCos).
NISO, which independently manages the nation’s electricity grid, explained that any disruption or limitation in gas supply directly affects available generation capacity and overall grid output, given the heavy reliance on thermal plants.
It added that when total system generation drops significantly, the operator is compelled to implement load shedding across the network while dispatching available energy in line with allocation percentages approved under the Multi-Year Tariff Order (MYTO) framework of the Nigerian Electricity Regulatory Commission (NERC), to maintain grid stability and prevent system disturbances.
While expressing regret over the inconvenience to electricity consumers and market participants, NISO said it is working closely with relevant stakeholders to restore full energy allocation once gas supply improves and generation capacity returns to normal levels.
General
EFCC Re-Arraigns ex-AGF Malami, Wife, Son Over Alleged Money Laundering
By Adedapo Adesanya
The Economic and Financial Crimes Commission (EFCC) has re-arraigned former Attorney-General of the Federation (AGF), Mr Abubakar Malami (SAN), his wife, Mrs Asabe Bashir, and son, Mr Abdulaziz Malami, on money laundering charges.
They were brought before Justice Joyce Abdulmalik of the Federal High Court in Abuja, following the re-assignment of the case to the new trial judge.
Upon resumed hearing, EFCC’s lawyer, Mr Jibrin Okutepa (SAN), informed the court that the matter was scheduled for defendants’ re-arraignment.
“The matter is coming before your lordship this morning for the very first time. I will be applying for the plea of the defendants to be taken,” he said.
Mr Okutepa equally applied that the sums listed in Counts 11 and 12 be corrected to read N325 million instead of N325 billion for Count 11, and N120 million instead of N120 billion for Count 12.
When it was not opposed by the defence lawyer, Mr Joseph Daudu (SAN), Justice Abdulmalik granted the oral application by Mr Okutepa.
The defendants, however, pleaded not guilty to the 16 counts preferred against them by the anti-graft agency bordering on money laundering.
Justice Obiora Egwuatu had, on February 12, withdrawn from the case shortly after the civil case filed by the EFCC was brought to him.
The case was formerly before Justice Emeka Nwite, who sat as a vacation judge during the Christmas/New Year break.
After the vacation period, the CJ reassigned the cases to Justice Egwuatu, who had now recused himself, before it was reassigned to Justice Abdulmalik.
The former AGF, his wife, and son were earlier arraigned before Justice Nwite on December 30, 2025.
While Malami and his son were remanded at Kuje Correctional Centre, Asabe was remanded at Suleja Correctional Centre before they were admitted to N500 million bail each, on January 7, with two sureties each in the like sum.
General
INEC Shifts 2027 Presidential, N’Assembly Elections to January 16
By Adedapo Adesanya
Nigeria will hold next year’s presidential and National Assembly elections a month earlier than planned, after the Independent National Electoral Commission (INEC) revised the polling schedule.
The elections will be held on January 16, instead of the previously announced date of February 20, INEC said in an X post, signed by Mr Mohammed Kudu Haruna, National Commissioner and Chairman, Information and Voter Education Committee.
There were also changes to the Governorship and State Houses of Assembly elections initially fixed for Saturday, March 6 2027, in line with the Electoral Act, 2022, have now been moved to Saturday, February 6, 2027.
The electoral commission said the changes were caused by the enactment of the Electoral Act, 2026 and the repeal of the Electoral Act, 2022, which introduced adjustments to statutory timelines governing pre-election and electoral activities.
“The Commission reviewed and realigned the schedule to ensure compliance with the new legal framework,” it said.
INEC said party primaries (including resolution of disputes) will commence on April 23, 2026 and end on May 30, 2026, after which Presidential and National Assembly campaigns will begin on August 19, 2026, while Governorship and State Houses of Assembly campaigns will begin on September 9, 2026.
It noted that campaigns will end 24 hours before Election Day, and political parties have been advised to strictly adhere to the timelines.
INEC also stated it will enforce compliance with the law.
The electoral body also rescheduled the Osun Governorship election which was earlier scheduled for Saturday, August 8 2026, by a week to Saturday, August 15, 2026.
INEC noted that some activities regarding the Ekiti and Osun governorship elections have already been conducted, and the remaining activities will be implemented in accordance with the Electoral Act, 2026.
Speaking at a news briefing in Abuja two weeks ago, the chairman of INEC, Mr Joash Amupitan, expressed the readiness of the commission to conduct the polls next year.
The timetable issued by the organisation for the polls at the time came when the federal parliament had yet to transmit the amended electoral bill to President Bola Tinubu for assent.
Later that week, the Senate passed the electoral bill, reducing the notice of elections from 360 days to 180 days, while the transmission of results was mandated with a proviso.
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