General
NERC to Distribute Additional Four Million Prepaid Meters
By Adedapo Adesanya
The Nigeria Electricity Regulatory Commission (NERC) has pledged to provide additional four million prepaid meters to electricity consumers in the country in the next phase of its metering programme.
This was disclosed by Mrs Aisha Mahmud, NERC Commissioner in charge of Consumers Affairs, at the Customers’ Complaints Resolution Meeting in Jos, Plateau State.
Mrs Mahmud, who described the shortage of meters in the country as one of the biggest problems currently facing the commission, hinted that the challenge would soon be a thing of the past.
She said that modalities had been put in place to provide the meters through the National Mass Metering Programme (NNMP) of the federal government.
“Actually, metering is one of the biggest challenges that we have been facing in the last couple of years in the commission.
“I don’t think this is funny, given that so many investments have been made in the power sector.
“It is said that in Nigeria, electricity generation started in Lagos as far back as 1826 with 20 megawatts. About 126 years down the line, we are still talking about basic things such as metering, a phase we should have passed a long time ago.
“Aside from many interventions in that regard, including the zero phase of the NMP where over one million meters were provided, the first phase of the initiative will make available four million meters to customers,” she said.
Mrs Mahmud, who said that all preparations had been concluded for the mass metering programme, explained that funding for the project would come through the Central Bank of Nigeria (CBN).
”We shall make available these meters to customers through the distribution companies, and this is to show that the regulator is not just sitting but making efforts to see that all Nigerians have access to meters.
“So, we shall do all it takes as regulators to ensure that the issue of metering becomes a thing of the past. I strongly believe that with the plans ahead, we will overcome this challenge soon,” she said.
She also attributed the increasing rate of electricity tariff to inflation, rising exchange rate, cost of gas, labour generation, and other economic realities in the country.
“Inflation has gone up to double-digit, exchange rate, even the official rate is crazy, operators purchase most of their equipment abroad using the current exchange rate. The cost of labour keeps increasing, among other factors,” she explained.
On the meeting with customers, Mr Mahmud said the commission was in Jos to educate customers on their rights and listen to their complaints with a view to addressing them on the spot.
Also speaking, Mr Abdu Mohammed, the Managing Director of the Jos Electricity Distribution Plc (JED), said that the concerns raised by the customers at the meeting would be addressed immediately.
“Quite a lot of issues, ranging from metering, billing, power quality, and complaints about our staff, among others, were raised.
“I want to promise that all these issues will be addressed immediately and, in terms of metering, we are very much on track.
“A few days back, we purchased 12,000 meters, and they are currently in our store. We are expecting 305,000 meters in the forthcoming NNMP phase one and over 100,000 from the World Bank intervention.
“So, very soon, you will see traction in all our franchise states, and all our customers will be metered,” Mr Mohammed said.
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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