General
New Electricity Act Will Trigger Development in Nigeria—NERC

By Adedapo Adesanya
The Nigerian Electricity Regulatory Commission (NERC) has said the recently assented Electricity Act 2023 by President Bola Tinubu is a significant development for the country’s electricity needs.
The commission, in a public notice, said granting legislative autonomy to the federating states on matters relating to the generation, transmission, and distribution of electricity in their respective jurisdictions shows a sign of positive things to come.
It noted that it would be engaging in a stakeholders’ workshop in July to clarify grievances or counterarguments.
It stated that the landmark legislations mark a pivotal shift in the structure of the power sector and present the potential of bringing about positive developments needed for powering Nigeria’s economy to greater heights.
It noted that the model had been successfully implemented in other jurisdictions, including India, Australia, Canada, and the United States of America (USA), where federal and state electricity regulations and markets are clearly delineated.
The commission said it recognises the importance of learning from the experiences and lessons of these jurisdictions to navigate the potential challenges and maximise the benefits of the evolving power sector landscape.
“There is a need to provide further clarity and delineation of roles and responsibilities between the federal and state regulatory jurisdictions. The clarification shall assist in avoiding conflicts, overlaps, and regulatory uncertainty that may hinder the smooth functioning of the power sector with a consequential adverse impact on investors’ confidence.
“In establishing a clear framework and defining the scope of authority for each level of governance, the commission aims to work with all stakeholders to create an environment that promotes efficient and effective sector governance, thus benefiting investors and consumers,” it stated.
NERC maintained that an orderly transition process was required to minimise disruption and shock to market participants and consumers.
“In this regard, stability and clarity are vital for the confidence of existing players and the encouragement of new investors in the evolving market. The commission recognises the importance of working with all state governments on an orderly transition having regard to legacy reform issues and the novation of existing contractual commitments.
“In pursuit of bringing to effect the laudable provisions of the electricity industry laws and to facilitate a smooth transition, the commission has scheduled a stakeholders workshop to hold in July, with key stakeholders including market participants, state government representatives, and other key interested parties.
“The workshop shall serve as a platform for open dialogue and collaboration, enabling participants to discuss and commence the development of a robust roadmap for a successful implementation of multi-tier electricity markets,” it added.
President Tinubu, on June 10, assented to the electricity bill, which authorises states, companies, and individuals to generate, transmit and distribute electricity.
The new electricity law repealed the Electric Power Sector Reform Act (EPSRA) signed by President Olusegun Obasanjo in 2005.
The new Act signed by Mr Tinubu consolidates all legislation dealing with the electricity supply industry to provide an omnibus framework to guide the post-privatisation phase and encourage private sector investments in the industry.
General
World Youth Day 2025: NBC Spotlights Young Changemakers Driving Nigeria’s Future

Nigerian Bottling Company (NBC), the official bottling partner of The Coca-Cola Company in Nigeria, is marking World Youth Day 2025 by celebrating the resilience, innovation, and impact of young Nigerians who are transforming their communities and driving inclusive growth.
At the core of this celebration is NBC’s flagship #YouthEmpowered initiative—designed to equip young people with essential life and business skills for the future of work. Since its launch in Nigeria in 2017, the program has empowered over 60,000 youth through hands-on training, digital upskilling, mentorship, and entrepreneurial coaching.
As part of this year’s activities, NBC will premiere a documentary that spotlights inspiring YouthEmpowered alumni who are building businesses, leading change, and shaping brighter futures for themselves and their communities. The documentary will be available to the public on NBC’s official website, YouTube channel, and social media platforms.
Featured in the film is Esohe Ekunwe, who now leads Alpha Connect, a community initiative focused on financial literacy, wellness, and civic engagement. She credits the YouthEmpowered program with not only influencing her business journey but also transforming her mindset.
The documentary also highlights other changemakers such as Doyin Ogunye, founder of Women and Youth Empowerment, whose environmental work in Lagos is tackling waste and creating jobs; and Kingsley Oguchechukwu, founder of Kingsman Luxury in Enugu, who turned a major business setback into a thriving fashion brand.
By shining a light on these stories, NBC reaffirms its commitment to empowering young Nigerians and supporting their vital role in national development.
General
Two Nigerian Innovators Shine at 2025 Anzisha Prize Awards Gala

By Aduragbemi Omiyale
It was a glorious moment for Ms Bunmi Esther Olalude and Ms Christianah Madu, the two Nigerian innovators honoured at the prestigious Anzisha Prize Awards Gala held on August 6, 2025.
They were among the four prize winners who received a $10,000 prize each to further the impactful work they are already delivering in their communities.
Ms Olalude was honoured with the Job Creation Award for creating the most jobs, particularly for women and youth, and she informed the audience, “If I keep on doing what I am doing, I know I can go anywhere and reach my biggest dreams.”
On her part, Ms Madu was awarded the Storytelling Award for her powerful communication and ability to increase visibility for her venture.
Another winner was Ms Cebolenkosi Gcabashe from South Africa, who earned the Revenue Growth Award for his business which showed the greatest increase in profitability.
“As a person from a rural area, this award means the world to me and the community I come from,” he said, urging young business leaders to “start where you are with what you have and the rest will come along with your journey.”
The fourth winner, Mr Tafadzwa Manyanye, received the Systems of Delivery Award for building strong operational systems to scale efficiently, and he advised other aspiring entrepreneurs to “just start,” noting, “whatever you are doing, starting today means you are gearing up for a successful tomorrow.”
The ceremony was part of the Anzisha Entrepreneurship Education in Africa (EEA) Summit, held at the African Leadership Academy campus.
The event concluded with a powerful call to action for business and community leaders to support the continent’s very young entrepreneurs.
The summit brought together policy architects, educators, investors, and business leaders to explore best practices in entrepreneurship education and celebrate the innovative strategies driving youth-led growth.
“Youth entrepreneurship isn’t the backup plan, it’s the blueprint. For too long we have treated entrepreneurship as plan B, the path we take when the real systems fail you. But today has reminded us that youth-led enterprise isn’t what happens when things go wrong, it’s what happens when young people take control of their futures,” Anzisha Prize Managing Editor, Didi Onwu, said.
“We’ve heard from our entrepreneurs who are running digital schools, inventing organic farming alternatives, designing global fashion brands, solving health challenges and more – all before the age of 25. They’re not asking if they’re too young. They’re building anyway,” Onwu added.
General
Nigeria Racing to Meet EU’s Cocoa Sustainability Deadline

By Adedapo Adesanya
The Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole, has described the regulation of the European Union (EU) on cocoa sustainability, which could impact Nigeria’s export, as both a “formidable challenge and a transformative opportunity” for the country.
On Monday, the federal government and stakeholders in the cocoa value chain met to assess the progress so far made towards complying with the EU Deforestation Regulation (EUDR) on sustainability.
She said the regulation was a call to action as it remained a “pivotal moment for Nigeria’s cocoa industry.”
The EU, which accounts for over 60 per cent of Nigerian cocoa exports, had set the December 31, 2020, deadline (later extended to December 2025) for Nigerian cocoa farmers to comply with the regulation which bordered on sustainable cocoa trade under the EUDR Compliance framework.
The deadline applies to the broader EUDR, which includes cocoa and other commodities, and was extended from an earlier date to allow for more preparation time.
Failure to comply could lead to rejection of Nigeria cocoa exports to Europe, among other punitive measures.
Mrs Oduwole said the roundtable was more than a high-level dialogue but a “platform to align national ambition with global standards, as well as a crucial step in ensuring the resilience, sustainability, and competitiveness of our cocoa value chain.”
The Minister pointed out that the the EU deforestation regulation was reshaping the way agricultural commodities are traded globally.
“But beyond that, Nigeria and this administration is at the forefront of climate change and climate justice, and what is important to is the use of our land for sustainability.
“So, without even an external project, this is something that is Nigeria first. As Mr President has put it, always Nigeria first in this issue. We’re thinking first and then joining the rest of the world to see how we’re using our resources for the betterment of everybody.
“So, for Nigeria, Africa’s fourth largest cocoa exporter, it’s both a formidable challenge and a transformative opportunity.
“With the EU accounting for over 60 per cent of our cocoa exports, compliance is not optional. It is an economic, environmental, and developmental imperative. And importantly, we have to support our domestic farmers and investors who are in this space,” she said.
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