General
Nigeria to Develop Integrated Electricity Policy, Implementation Plan
By Adedapo Adesanya
Nigeria will develop a new integrated national electricity policy and strategic implementation plan, as mandated by the Electricity Act 2023, according to the Minister of Power, Mr Adebayo Adelabu.
President Bola Tinubu had on June 9 assented to the Electricity Bill, now an Act empowering states, companies and individuals to generate, transmit and distribute electricity.
This, in turn, repealed the Electric Power Sector Reform Act (EPSR A), 2005 and create a comprehensive legal and institutional framework to guide the Nigerian Electricity Supply Industry (NESI).
Mr Adelabu, while speaking on Monday at the Nigeria Electricity Management Services Agency (NEMSA) roundtable for legislature, judiciary and other stakeholders said the ministry of power is working assiduously with the National Council on Power to send the policy to Federal Executive Council (FEC) for approval.
The round table was on the Enforcement of Technical Standards and Regulations in the NESI and Allied Industries.
The minister said that Electricity Act had consolidated virtually all legislation in the NESI and strengthened the role of NEMSA as the lead enforcer of all statutory technical and regulatory standards.
This is to guarantee the safety of lives and property, with complementary roles assigned to other sister agencies under their acts.
The minister said that the round table was timely, and the theme was well-informed.
“It’s an opportunity for us to compare notes on the reforms recently brought about in NESI by the Fifth Alteration to the 1999 Constitution (as amended) and the re-enactment of the Electricity Act, 2023.
“It is time to take stock of where we are and where we are going. As you are all aware, it’s one of the major fallouts of the amendment to the Fifth Alteration
“I must therefore, commend the management of NEMSA for displaying leadership by recognising the vital roles played by not just the national state actors and other stakeholders in NESI, but pertinently, the legislature and the judiciary, ” he said.
Mr Adelabu said that at the last count, not less than five states had enacted their own electricity laws and commended the legislature for their incessant resolve to bring to fruition necessary statutes with positive bearing on the lives of the citizenry.
“Be rest assured that the ministry under my leadership is dedicated to leading the engagements with the state governments to maintain standards across the board to ensure that desirable reforms are undertaken and guided against regulatory rupture, ‘’ he said.
Chairman, House Committee on Power, Mr Victor Okolo, said there was need to ensure that all electrical installations deployed in NESI met required technical standard regulation and specification.
Represented by Mr Rodney Ambaiowei, he said that the technical standard regulation and specification was to ensure that such system were capable of delivering safe and reliable electricity supply to guarantee safety of lives and property.
“We have observed that NEMSA, in an attempt to enforce its mandate, has met with stiff resistance in several occasions which is attributed to lack of adequate knowledge of the agency and its function.
“However, at the end of this conference, participants would have been better informed of the mandate of NEMSA and spread the message to those concerned.
“On our part, we assure the agency that it receives adequate funding and other support it needs to effectively discharge its responsibilities, ‘’ he said.
On his part, Mr Aliyu Tahir, Managing Director, NEMSA, said that the enforcement of technical standards and regulations was a very critical aspect in managing the growth of the electricity industry in any nation.
He said that technical standards and regulations helps to ensure that all electrical installations deployed in the NESI meet the required technical standards, regulations and specifications.
“This is to ensure that such systems are capable of delivering safe, reliable and sustainable electricity supply as well as guarantee safety of lives and property.
Mr Tahir said that to effectively achieve its core mandate of enforcement, NEMSA had 19 Inspectorate Field Offices (IFO), six National Meter Test Stations and one engineering and chemical laboratory.
According to him, those offices are manned by qualified, well-trained, skilled and well-motivated engineers, technical officers and other professionals.
He said that the agency also had plans to open meter test stations in the North East and North Central Geopolitical Zones of the country whenever there was approved fund for the project.
He said that NEMSA, in the course of carrying out its mandate in the power sector and other allied industries/workplaces in the past few years, met with resistance on several occasions.
By Adedapo Adesanya
The National Pension Commission (PenCom) has said it hopes to achieve about 20 million pension contributors by the end of year 2027, as against the over 10.65 million it currently counts.
The Director-General of PenCom, Ms Omolola Oloworaran, said this over the weekend at the Pension Industry Leaders’ Retreat in Lagos.
According to her, the target would be achieved through the expansion of Personal Pension Plan (PPP) formerly known as Micro Pension Plan (MPP); constant engagements with stakeholders; enforcement of pension compliance certificates, especially by state governments amongst other initiatives.
She noted that the retreat has provided opportunities for the industry to adopt new strategies, stating that the resolutions reached will be fully implemented before the end of first quarter 2026.
On pension contributions, she said the industry expects a 50 per cent growth, stating that pension growth is essential for economic growth and development.
As of February 28, 2025 the pension fund assets was N23.27 trillion and Retirement Savings Account (RSA) holders 10.65 million.
Recall that recently, the pension regulator announced the recovery of N1.58 billion from defaulting employers through enhanced enforcement efforts as total pension assets under management (AuM) surpassed N23 trillion as of February.
The DG also announced state remittances had also improved, reflecting a greater adoption of the Contributory Pension Scheme (CPS).
Ms Oloworaran noted that in spite of these advancements, challenges remain, as only 25 states and the Federal Capital Territory (FCT) had enacted laws to implement the CPS.
“Six states operate hybrid schemes, while another six have bills at advanced legislative stages.
“Notable progress has been made in Katsina, Yobe, Bauchi, and Abia states. However, full implementation of the CPS is currently limited to eight states,” she explained at the First Run 2025 Consultative Forum for States and the Federal Capital Territory (FCT) held in Kano in late April.
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has again reacted to the activities of individuals and groups falsely claiming to represent or act on its behalf, warning Nigerians against falling for these schemes.
According to the Acting Director of Corporate Communications at the CBN, Mrs Hakama Sidi Ali, in a statement, these persons continue to circulate fictitious offers of contracts, loans, grants, intervention funds, and other financial benefits allegedly issued or endorsed by the CBN.
“Despite the public advisory issued on November 18, 2024, through the Bank’s official channels and news outlets, these misleading schemes have persisted, targeting unsuspecting members of the public with false and deceptive narratives,” the statement said.
“The CBN wishes to reiterate that it has not authorised, licensed, or appointed any individual, group, or organisation to act as an agent or intermediary in offering contracts, financial grants, or intervention funds to the public. The CBN also does not endorse or support such claims in any form.
“Members of the public are advised that the Central Bank of Nigeria (CBN) does not award contracts or disburse funds through unsolicited communications such as emails, phone calls, SMS, WhatsApp, or any social media platform. It also does not request payment of fees in exchange for contracts, grants, or financial interventions, nor does it engage intermediaries or third parties to offer financial services or opportunities to the public.
“If you are approached by individuals or entities making such claims, we strongly advise that you do not engage with them. Instead, such incidents should be reported immediately to the relevant law enforcement agencies or the nearest CBN Branch.
“The Central Bank of Nigeria remains committed to safeguarding the financial interests of the Nigerian public and continues to work closely with security agencies to investigate and address fraudulent activities,” the statement said.
By Adedapo Adesanya
Nigerian Maritime Administration and Safety Agency (NIMASA) has said that its resolve to embrace technology as a means of enhancing capacity to deliver on its regulatory mandate more effectively and generate additional revenue for the government is being misinterpreted in some quarters as concession of its operations.
NIMASA, in a statement, said a pivotal innovation in this regard is the Maritime Enhanced Monitoring System (MEMS).
“This system brings digital traceability to the core of Nigeria’s maritime operations. MEMS provides real-time visibility into vessel movements, operational logs, and regulatory interactions. Through automated alerts, smart invoicing, and centralized data integration, NIMASA can now detect, document, and respond to maritime activities with greater precision and efficiency—eliminating unnecessary bottlenecks while strengthening compliance,” it stated.
It listed additional recipients targeted as waste reception services, a routine operation for both domestic and international vessels have traditionally lacked proper tracking, resulting in unmonitored activities and significant revenue losses.
“With MEMS, each waste offload can be logged, time-stamped, and automatically billed, converting previously missed opportunities into a consistent revenue stream while ensuring environmental standards are met,” the statement said.
“Marine pollution control, another critical area of NIMASA’s mandate, has similarly been constrained by limited digital tools. In the absence of satellite tracking and automated reporting, pollution events often go unnoticed or are reported too late to mitigate their impact. With the integration of modern surveillance systems, digital logbooks, and real-time alerts, NIMASA can now respond swiftly to such incidents, recover environmental damages, and hold polluters accountable—both legally and financially.
“It is important to emphasize that past revenue shortfalls experienced by the Agency mainly stemmed from outdated manual processes, fragmented data systems, and insufficient digital enforcement mechanisms which allowed some external elements to capitalize on the loopholes for personal gains .
“The current reforms being implemented by NIMASA are focused squarely on overcoming these limitations. By investing in digital infrastructure and streamlining monitoring systems, the Agency is positioning itself to fulfill its statutory obligations with transparency, efficiency, and accountability,” it added.
NIMASA therefore called for the support of its transformation journey as it aligns with the broader national objectives of the Ministry of Marine and Blue Economy under the Renewed Hope Agenda of President Bola Tinubu.
“The Agency remains committed to strengthening Nigeria’s maritime governance, ensuring environmental safety, and optimizing revenue for the nation,” the statement said.
“It is worthy of note that the Deep Blue Project of the Agency which now enjoys global recognition also witnessed such resistance at the initial stage,” it stated.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN