General
Privatization of Power Sector Not a Failure—IBEDC COO
By Adedapo Adesanya
The Chief Operating Officer (COO) of the Ibadan Electricity Distribution Company (IBEDC), Mr John Ayodele, has disagreed with those who said the privatization of the power sector has turned out to be a failure, unlike its telecommunications counterpart.
Mr Ayodele, while addressing newsmen in Ibadan on Tuesday, said the electricity distribution company and others were making progress despite the challenges.
He said, for example, IBEDC runs a deficit of N4 billion monthly and that between January and July 2021, it has recorded 15,032 cases of vandalisation of distribution assets.
Mr Ayodele said the money paid by customers to the company also goes to generating (GENCO) and transmission companies operating in the sector as well.
He maintained that IBEDC does not have the full power to reduce the tariff, stressing that stakeholders must unanimously agree to review power tariffs in the country.
On the efforts of the company towards effective service delivery, he said the electricity distributing company, he been investing heavily in the sector.
All in the bid to improve service delivery, he highlighted that the company has added 2,632 distribution substations to its network, rehabilitated 39 dilapidated substations, replaced two failed power stations and 381 distribution transformers.
The IBEDC COO added that the company reconstructed six new 33 kilovolt (kV) and six new 11 kV outgoing feeders, rehabilitated 22 high tensions and 52 low tension overhead lines.
Mr Ayodele said the company has made progress on Asset and Customer Enumeration; an exercise that has made it possible to correctly capture the active consumer base of the company and aided the Distribution Transformer (DT) metering project.
According to him, the company has ensured that 50 per cent of IBEDC DT meters are smartly metered, adding that metering would aid management and solve problems of accountability of energy.
Also, he explained that the organisation has been working on improving occupational and safety management systems and initiated e-billing which enables effective delivery of bills to postpaid customers via SMS and Email.
Speaking on the issue of increase in tariff, he said that the increasing energy cost is driven by the impact of worsening exchange rate on gas price, the inflation evident in the economy, the constraints on the national grid and the frequent collapse of the grid.
Clarifying on compensation, the COO said many individuals and communities are not truthful about the real cost of the infrastructure provided and should have first consulted with the company to agree on the cost and structure of repayment hence the reason for non-compensation.
“The management, however, promised to work on its response system to ensure a close interaction with communities,” he said.
Mr Ayodele also responded to the allegation on the corruption of staff, saying that IBEDC has constantly been sacking employees found to be corrupt and even prosecuting them.
He advised the public not to keep quiet but report such incidences and urged all to deviate from the thinking that energy supply is a social service rather than an economic service.
He pointed that this perception was the reason why some bypassers do not want to accept meters but called for active cooperation from consumers.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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