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Prepaid Meter Prices May Rise as Ikeja Electric Suspends Online Payments

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Prepaid Meters DisCos

By Aduragbemi Omiyale

There are strong indications that electricity consumers in the country may be forced to pay more to purchase prepaid meters due to the rising costs of goods and services in the country.

Business Post gathered that one of the electricity distribution companies in Nigeria, Ikeja Electric Plc, has already announced the suspension of online payments for prepaid meters.

The company confirmed this development in a message sent to its customers within its coverage areas on Wednesday.

Ikeja Electric explained that it took this action because of the fluctuating foreign exchange (FX) rates at the forex market as well as the stubborn inflation, which has refused to slow down.

About two weeks ago, the National Bureau of Statistics (NBS) revealed that inflation in Nigeria for July 2023 increased by 24.08 per cent on a year-on-year basis from 22.79 per cent in June 2023.

As for the forex market, the Naira has failed to gain weight against the United States Dollar despite the unification of the rates by the Central Bank of Nigeria (CBN).

At the close of business on Tuesday, the Naira was traded at N775.34/$1 at the official window, N915/$1 at the Peer-to-Peer (P2P) segment, and N905/$1 at the parallel market.

The FX market in Nigeria has been constrained by a significant shortfall in the flow of forex into the country, especially due to low exports and a decline in the sale of crude oil, which the country has in abundance.

The twin forex crisis and rising inflation have put the Naira under pressure, further weakening its value and pushing the prices of goods and services higher.

This has taken its toll on several businesses, including importers of prepaid meters, who have to source FX from the black market.

DisCos in the country are already feeling the heat, and to cut down its losses, especially due to higher operational costs, Ikeja Electric has suspended the payments for prepaid meters via its online platforms.

In the message obtained by Business Post, the energy firm disclosed that this action would affect its metering process, though it promised to make efforts to resolve the issues.

“We apologize for the recent delay in metering due to low stock from our Meter Asset Providers (MAPs) caused by exchange rate and inflation challenges.

“As a result, online meter payments are temporarily suspended.

“We are actively working with our MAPs to swiftly resolve this and resume the metering process. Thank you for your understanding,” the message disclosed.

A senior staff of Ikeja Electric, who begged for anonymity, confided in this newspaper that customers may have to pay more for prepaid meters because the current prices are no longer sustainable.

At the moment, the single-phase prepaid meter sells at about N64,000, while the three-phase meter goes for about N120,000.

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Waterway Accidents: FG Urges States to Ban Wooden Boats, Night Travel

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boat accidents

By Modupe Gbadeyanka

State governments have been advised to ban the use of wooden boats for commercial water transportation to reduce waterway accidents.

This call was made by the federal government through the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

The Minister argued that wooden boats are unstable and are highly prone to capsizing because they deteriorate quickly, unlike fibre and aluminium vessels which are more durable and safer.

His call followed incessant boat accidents in some parts of the country.

He charged the sub-nationals to adopt safer fibre-reinforced plastic and aluminium vessels to tackle the recurring and avoidable waterway accidents.

Mr Oyetola urged strict adherence to water safety regulations, warning against night travel, overloading, and the use of rickety vessels, while stressing the importance of wearing life jackets.

He disclosed that 35,000 life jackets were distributed to riverine states in 2025 and called for stronger collaboration with state governments to improve safety, noting that water transport remains critical to Nigeria’s blue economy.

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Nigeria Records 57 Electricity-Related Accidents in Three Months

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Electricity-Related Accidents

By Adedapo Adesanya

Nigeria recorded 57 recorded cases of  electricity-related mishaps, according to the latest electricity sector data released by the Nigerian Electricity Regulatory Commission (NERC).

The data, which covers the third quarter of 2025 (Q3 2025), spotlighted how 33 people lost their lives and another 33 sustained various degrees of injuries in power-related accidents across the country.

According to the Q3 2025 report, a total of 57 power-related accidents were reported across the country during the period under review.

The accidents were spread across several distribution zones, with Ikeja and Kano electricity distribution areas recording the highest number of incidents during the quarter.

Both zones reported 10 accidents each. Ikeja also recorded six injuries and four deaths, while Kano posted six deaths and four injuries.

While Abuja, Jos, Aba, Port Harcourt, Enugu, and Yola recorded varying but still troubling levels of incidents, Eko, Kaduna, and the Transmission Company of Nigeria (TCN) also featured prominently. In many of these cases, accidents resulted in either severe injuries or fatalities, or both.

Unsafe acts and hazardous conditions accounted for the highest number of injuries and tied for the highest number of fatalities, while wire snaps emerged as one of the deadliest hazards, accounting for 10 fatalities and seven injuries during the quarter.

The report noted that 10 deaths and 18 injuries were attributed to unsafe practices or conditions, pointing to a mix of human error, poor safety culture, and inadequate enforcement of operational standards by licensees.

Illegal or unauthorised access to electricity installations also contributed to the casualty figures, leading to two fatalities and three injuries during the period under review.

Vandalism, while responsible for fewer casualties in the quarter, still resulted in two deaths.

The report also noted that the TCN recorded four cases of damage to property and infrastructure arising from explosions, fire outbreaks, or acts of vandalism during the quarter.

However, NERC said it initiated investigations into all reported accidents and signalled its intention to enforce appropriate actions where necessary.

The regulator said it organised periodic health and safety managers’ meetings aimed at improving safety performance across the industry, where it brings together health and safety officers from electricity companies to review incident reports, share lessons learned, and identify areas requiring urgent improvement.

During the period under consideration, the regulator disclosed that it supervised the successful conclusion of two compensation negotiations between electricity companies and families of victims, an indication of ongoing efforts to address the aftermath of such incidents.

However, the report showed that in the previous quarter (Q2), 38 fatalities were recorded, 19 persons were injured, and 60 accidents were reported.

“Relative to 2025/Q2, the number of accidents decreased from 60 to 57, the number of fatalities decreased from 38 to 33, but the number of injuries increased from 19 to 33,” the NERC report stressed.

“During the quarter, all the accidents occurred at the distribution level, i.e., neither TCN nor any of the Gencos recorded safety accidents. Although all Discos recorded casualties, the licensees with the highest number of casualties out of the total 66 recorded during the quarter are Ikeja and Kano (10), Eko and Kaduna (8), representing 15.15 per cent and 12.12 per cent of the total, respectively.

“This quarter continues the trend of the distribution sub-segment being the biggest driver of safety accidents in the sector. Discos accounted for 93.33 per cent, 100 per cent, and 100 per cent in 2024/Q4, 2025/Q1, and 2025/Q2, respectively,” the NERC report pointed out.

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Akwa Ibom Assembly Denies Criminalising Romantic Affairs With Married Men

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Akwa Ibom Assembly

By Modupe Gbadeyanka

Contrary to reports making the rounds, the Akwa Ibom State House of Assembly is not considering passing a bill to make it a criminal offence for single ladies having romantic affairs with married men in the state.

On Monday, unconfirmed news went viral, purporting that a phantom Deputy Governor of Akwa Ibom State, Mrs Akon Etim, had sponsored a bill to ensure single ladies having sexual relationship with married men spend 10 years in prison, while the men pay a fine of N2 million.

It was claimed that the bill was to be passed by the state parliament, today, Tuesday, January 13, 2026.

Business Post reports that the Deputy Governor of Akwa Ibom State is Mrs Akon Eyakenyi, not Mrs Akon Etim.

Reacting to the reports, the chairman of the House Committee on Information, Mr Jerry Anson Otu, described the reports as “false.”

“The Akwa Ibom State House of Assembly wishes to categorically state that this report is entirely false and has no basis in fact. The Assembly has not received or considered any such bill, and the Deputy Governor has not sponsored it.

“We condemn this malicious attempt to tarnish the image of the Deputy Governor and the Assembly, and urge the public to disregard this fake news and any associated commentaries.

“The House remains committed to its constitutional role of law-making, and will not be swayed by mischievous attempts to undermine its integrity,” parts of the statement issued by the parliament stated.

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