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Reps Propose N500bn Minimum Capital Base for Discos

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Nigerian DisCos

By Adedapo Adesanya

The House of Representatives is proposing that only electricity distribution companies (Discos) with a capital base of N500 billion be allowed by the federal government to operate.

According to the lower chamber of the National Assembly, only financially capable energy firms could ensure maximum consumer satisfaction to Nigerians, insinuating that others could be disbanded or restructured.

Nigeria currently has 11 Discos servicing the 36 states of the federation, but only a handful of these firms have a strong capital base.

The resolution was passed by the House during a plenary session on Wednesday following the adoption of a motion sponsored by Mr Ibrahim Isiaka, a representative from Ogun State.

In his motion, Mr Isiaka noted that the actions of DisCoS are “posing a threat to economic stability and welfare of the Nigerian populace.”

The lawmaker also noted that Nigerian consumers paid for electricity meter installation, but “Discos are demanding additional payments for replacement of these metres under dubious pretences, undermining consumer trust and exacerbating financial burdens.”

He expressed worry that consumers are being coerced into paying for meters which they have earlier financed, causing financial strain on households and businesses already facing economic challenges.

Mr Isiaka is also worried about the sabotage of economic development by Discos, where essential services are used against citizens intended to serve thereby, stifling growth and development.

“Despite constant regulatory oversight and demand for accountability by the Committee on Power from these companies, Discos remained recalcitrant in operating with impunity and disregard for consumer rights.”

The motion was unanimously adopted without debate when it was put to a voice vote by the Speaker of the House, Mr Tajudeen Abbas.

The Green Chamber then urged the ministry of power to “declare DisCos as non-state actors and take immediate measures to address their reckless actions threatening the nation’s economy.”

The lawmakers also requested that DisCos should “undergo recapitalisation of not less than N500 billion, and only those with the required financial muzzles that can provide maximum satisfaction to consumers are allowed the space to continue to operate.”

They mandated the House Committee on Power to investigate the activities of DisCos to hold them accountable and safeguard the rights of consumers.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Makinde to Install Ladoja 44th Olubadan September 26

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rashidi ladoja

By Modupe Gbadeyanka

A former Governor of Oyo State, Mr Rashidi Ladoja, will be installed as the 44th Olubadan of Ibadanland on Friday, September 26, 2025, at Mapo Hall.

This followed the approval of the Olubadan-designate by Governor Seyi Makinde, after his nomination by the ancient town’s kingmakers.

The throne became vacant following the demise of Oba Owolabi Olakulehin on Monday, July 7, 2025, at the age of 90.

The former occupier of the seat passed on less than a week to the one-year anniversary to the ascension of the Olubadan throne.

According to reports, Mr Ladoja held talks with the kingmakers at his residence in Ibadan on Tuesday and today, he was with some officials of the state government and other members of the Olubadan-In-Council.

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Anambra Condemns Attack on NYSC Member, Assures of Justice

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Soludo Anambra

By Adedapo Adesanya

The Anambra State Government has condemned the attack on a member of the National Youth Service Corps (NYSC) who was assaulted and harassed by members of Operation Udo Ga-Achi in Obá, Idemili South Local Government Area of Anambra State, promising to carry out justice.

The state government said it was appalled by the disturbing video being circulated online and strongly condemned this act of violence and harassment.

According to the state’s Commissioner for Information, Mr Law Mefor, the government maintains that the Anambra security outfits, Agunechemba and Operation Udo Ga-Achi, were a child of necessity established by the Anambra Homeland Security Law 2025 to maintain law and order.

He said the government was swift in arresting and questioning the offenders long before the rather unfortunate video was released.

Mr Mefor added that the offenders have been suspended from operations pending investigation and disciplinary action.

“We have collaborated with the Police to ensure a thorough investigation and complete dispensation of justice. The victim’s medical needs have been attended to, and we have committed to providing all other necessary support,” he stated, adding that the outfit was not meant to perpetrate violence and intimidation, and equally noted that the two security outfits have commendably maintained law and order in the state since their introduction on January 18, 2025.

“Therefore, any form of assault perpetrated by any member of the security outfits is outside their code of conduct, and all those involved, particularly in the incident under reference, will face the full weight of the law.

“The government wishes to reassure members of the public, particularly Youth Corps members in Anambra for their national service, that they have nothing to fear from the State’s security outfits – Agunechemba and Operation Udo Ga-Achi – and should go about their lawful activities without fear.

“The government wishes to appreciate the steps taken by the police and Operation Udo Ga-Achi so far by arresting those involved in the assault and urges the victims to cooperate with the police and the leadership of Operation Udo Ga-Achi to ensure speedy dispensation of justice on the matter.”

The Commissioner noted that the state remains one of the country’s most hospitable and secure states, as he promised that the government would take all necessary actions to prevent such incidents in the future.

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Moniepoint’s Documentary on Nigeria’s Food Industry Supply Chain Excites FG, Others

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moniepoint inside nigeria's food chain

By Modupe Gbadeyanka

Prominent financial technology (fintech) company, Moniepoint Incorporated, has been given a pat on the back for its 12-minute documentary exploring Nigeria’s food industry supply chain.

The piece focused on the Northeast region, particularly Borno State, highlighting how cultivation and distribution processes connect local farmers to the broader national market.

A key finding from the case study showed that the informal, trust-based networks that power Nigeria’s food chain are not a weakness to be formalized, but a strategic asset to be strengthened. These networks, built on generational knowledge and social capital, have proven more durable and adaptable in crisis than formal institutions.

At the private screening of the documentary titled Inside Nigeria’s Food Chain in Abuja recenrly, the Special Adviser to the President on Economic Affairs in the Office of the Vice President, Mr Tope Fasua, who was among the few guests at the event, said Moniepoint has done well to showcase the resilience of the region’s agricultural value chain and empowering smallholder farmers through innovative digital payment solutions.

The economist said he was impressed that the work captured how digital financial services are driving economic inclusion among rural communities traditionally not associated with technology adoption, even amid ongoing security challenges and cost-of-living pressures across the country.

“I am happy and thrilled at the many things that this documentary and case study captures. It’s an eye opener for people to be able to see all of the operations going on. I have first-hand experience at how Moniepoint is changing the market dynamics for good.

“It was heartwarming to see the economic and financial inclusion x-rayed in the video with a lot of digitization going on at the level with people who you’d not associate with technology adoption,” Mr Fasua stated.

Furthermore he noted that in spite of the challenges with insecurity in the country, “We can see the resilience that our people have demonstrated in churning out grains, livestock and agric produces.

“This work has also shown that our people are embracing modern and subsistence level farming. On the financial inclusion front, it is delightful to watch the confidence that the people have in digital payments and Moniepoint has done a fantastic job in deepening adoption across the country.”

Speaking to the rationale behind the screening and case study and responding to questions from guests, the Vice President for Corporate Affairs at Moniepoint, Ms Edidiong Uwemakpan, noted the project is about real people and real impact.

“In view of the amounts that we process monthly as a business, we sought to peel back the layers on the naira and kobo and uncover the stories behind the transactions and what they mean for Nigeria.

“Moniepoint as a Nigerian company has been able to achieve such impact by adopting hyperlocal support to build trust with its users tailoring our services to fit the existing lifestyle and trading habits of Nigerians,” Ms Uwemakpan said.

She noted that Borno State had often been defined by negative narratives overshadowing its strengths. Therefore, the documentary does not only focus on showcasing Moniepoint’s role in supporting food distribution but also reveal the state’s agricultural diversity, which contributes significantly to feeding millions of Nigerians.

Aligning with these thoughts, a communications expert, Mr Tolu Ogunlesi, expressed his excitement and commended Moniepoint for telling this story – not just because of what it says about food but what it says about our resilience and the country as a whole.

“Watching the documentary, a lot of the towns mentioned became famous not for food but as Boko Haram affected regions. This project allows us to truly appreciate these areas for what they really contribute to the country’s socio-economic development and what they should actually be famous for. This is a part of Nigeria that has been traumatized by insecurity but they have demonstrated remarkable resilience such that when people sit in their homes and they are eating, they are reminded that some of these products come from the North East,” he said.

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