General
Suspension of Electricity Tariff Hike Extended by One Week
By Modupe Gbadeyanka
The suspension of the implementation of the recent hike in the tariff of electricity in Nigeria has been extended by one week by the federal government.
The extension was agreed on Sunday during a meeting between the federal government and representatives of the labour unions.
Yesterday, the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, led the government delegates to meet with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).
Recall that on September 28, 2020, at a meeting between both parties held to avert an industrial action because of the hike in prices of petrol and electricity, it was agreed that while the removal of subsidy for fuel should be maintained, the price of electricity should be reversed to the old rate.
It was then agreed that a committee should be set up to have representatives of the government and the labour unions to review the new service-based electricity tariff policy for two weeks.
On Sunday, the suspension of the electricity hike expired and the committee met to look into their findings and at the gathering, it was concluded that another one week should be given.
“The two-week extension for electricity tariffs, which expired this week, will be extended by another one week.” the Minister of Labour, Mr Chris Ngige, announced while reading a communiqué from the meeting.
In the communiqué signed by the Minister of State for Labour, Mr Festus Keyamo, the resolutions of the panel on the distribution of one million meters to bridge the metering gap in the country in the first instance was adopted.
This would be done under the National Mass Metering Programme (NMMP) and the target is to provide at least six million meters to Nigerians free of charge based on the funding by the Central Bank of Nigeria (CBN), but the cost would be recovered from the electricity distribution companies.
The six million meters to be procured for the NMMP will only be through local meter manufacturers and assemblers. “This will create jobs and a new meter manufacturing sub-sector in the country,” it was noted.
It was further resolved that there would be a mandatory monthly publication of allowed billings in Naira for unmetered customers by the Nigerian Electricity Regulatory Commission (NERC) to make the capping regulation more effective.
“NERC will publish maximum charges in Naira for consumers without meters (in support of the capping regulation). Current rates at times are published in energy usage kWh and are difficult for consumers to reconcile against their bills,” it was stated.
It was also stressed that “Discos must refund consumers that have evidence that they were overbilled during the transition to the service based tariff. Any evidence of overcharging identified through the extended Ad-hoc committee scope will also be reimbursed by the discos.”
In addition, the parties agreed that after the expiration of the one-week extension, there would be a reduction of the tariffs by 10 per cent for band A, 10.5 per cent for band B and 31 per cent for band C.
“The immediate relief would be provided to citizens for a 2 to 3-month period (not later than December 31, 2020), being the timeline for the conclusion of an extended scope of work for the technical committee,” it noted.
By Aduragbemi Omiyale
The annual retreat for business managers and executives organised by the Nigeria Employers’ Consultative Association (NECA) will take place from April 16 to 18, 2026, at the AAE & T Hotel, Kuto, Abeokuta, Ogun State.
This year’s edition is themed The Resilient Enterprise, People and Systems: Building and Managing Businesses that Outlive Seasons, Cycles and Crises.
The programme aims to equip leaders with the insights, tools, and networks required to build resilient organisations in an increasingly complex business environment.
It will provide a unique platform for executive-level engagement through high-level conversations, peer learning sessions with experienced leaders, strategy reflection workshops, and curated networking opportunities.
Expected to attend are industry leaders, senior executives, and business managers from across sectors. They will explore strategies for sustaining organisational performance through leadership transitions, economic cycles, regulatory shifts, and market disruptions.
Participants will also benefit from interactive discussions focused on strengthening corporate governance, developing agile leadership capabilities, and building organisational systems that can withstand periods of uncertainty and transformation.
A notice from NECA said the event is open to both members and non-members, with participation fees set at N300,000 for members and N320,000 for non-members. Discounts will also be available for Gold and Silver members, subject to applicable terms and conditions.
Interested participants are encouraged to register via the official registration link to secure their place at the retreat, which promises to deliver valuable insights and connections for executives seeking to build enterprises capable of thriving through seasons of change and uncertainty.
The Director-General of NECA, Mr Adewale Smatt-Oyerinde, noted that by convening business managers and senior executives in a collaborative learning environment, the association aims to contribute to the development of stronger, future-ready enterprises that can drive economic growth, create jobs, and support national development even in the face of evolving global and local challenges.
He added that the retreat will provide executives with the opportunity to step away from daily operational demands and engage in deeper strategic conversations with peers and industry experts.
“The theme of this year’s retreat speaks directly to the realities businesses face today. Across sectors, organisations are navigating leadership transitions, regulatory shifts, economic pressures, and technological disruption.
“What distinguishes enduring enterprises is their ability to build strong systems, develop capable leaders, and create organisational cultures that can adapt and respond effectively to change,” the NECA chief said.
By Modupe Gbadeyanka
In further demonstration of its unwavering commitment to its workforce, Nigeria’s foremost power generation company, Egbin Power Plc, has unveiled 80 new residential housing units for employees within its plant premises in Egbin, Lagos State.
This comprises 40 fully furnished three-bedroom apartments and 40 furnished studio apartments, all designed to contemporary standards.
The units feature modern infrastructure and thoughtfully planned utilities, creating a safe, comfortable, and conducive living environment that supports both employee productivity and family well-being.
This strategic investment underscores the company’s philosophy that a well-supported workforce is fundamental to sustained operational excellence.
The new housing units are part of a holistic strategy to cultivate a stable, motivated, and future-ready workforce.
This strategy extends beyond infrastructure to encompass robust career development and recognition. Over the past three years, Egbin Power has promoted 112 employees across various cadres, reinforcing a culture that rewards merit, performance, and long-term dedication
“At Egbin Power, our people are our most valuable asset. Even amidst the prevailing liquidity and operational realities within the broader power sector, our focus on employee welfare has remained deliberate and consistent.
“This significant expansion of our residential estate is a tangible expression of that commitment.
“It is one of several key initiatives aimed at ensuring our employees feel genuinely supported, allowing them to thrive both personally and professionally,” the chief executive of Egbin Power, Mr Mokhtar Bounour, said.
Initiated in 2025 and completed in January 2026, this project is the latest milestone in Egbin Power’s structured and ongoing approach to enhancing employee welfare. It reflects the energy firm’s dedication to fostering a culture where every team member feels valued, secure, and motivated.
By Aduragbemi Omiyale
On Tuesday, March 10, 2026, at the Nigerian Exchange Group House in Lagos, the role of capital markets in promoting gender equality will be reemphasised through the closing gong ceremony in commemoration of International Women’s Day 2026.
The ceremony is part of the global Ring the Bell for Gender Equality campaign, which mobilises stock exchanges worldwide to expand women’s participation in the economy and advance gender-inclusive practices.
In Nigeria, the NGX Group is partnering with the Central Securities Clearing System (CSCS) Plc and Women in Management, Business and Public Service (WIMBIZ) to make it memorable under the theme Rights. Justice. Action. For ALL Women and Girls.
Dignitaries expected at the ceremony include the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu; the First Lady of Imo State, Mrs Chioma Uzodimma; the Executive Commissioner for Legal and Enforcement at the Securities and Exchange Commission (SEC), Ms Frana Chukwuogor; foremost actor, Ms Funke Akindele; a Director at the NGX Group, Ms Ojinnika Olaghere; and another staffer of NGX Group, Mrs Fatima Wali-Abdulrahman, alongside board members of NGX Group, regulators, capital market stakeholders, and industry leaders.
NGX Group is joining other exchanges worldwide in sounding the NGX Gong to underscore the importance of inclusive leadership, equal opportunities, and stronger market accountability in advancing gender equality.
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