General
Prepaid Meter Prices May Rise as Ikeja Electric Suspends Online Payments
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.
General
Pastor Ogbueli’s Abuja Night of Glory Holds Today
By Blaise Udunze
Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.
The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.
The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.
Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.
Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.
The event is intended for all individuals trusting God for divine intervention in any area of life.
Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.
Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.
Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.
General
Rivers Speaker, 15 Other Lawmakers Leave PDP for APC
By Modupe Gbadeyanka
The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).
At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.
This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.
The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.
This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.
A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.
Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.
It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.
Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.
General
Nigeria Risks Brain Drain in Energy Sector—PENGASSAN
By Adedapo Adesanya
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.
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