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Category: Business

  • JUST IN: Dangote refinery explains fuel pricing, says more reductions expected as crude costs fall

    JUST IN: Dangote refinery explains fuel pricing, says more reductions expected as crude costs fall

    LAGOS, Nigeria (NPA) — Dangote Petroleum Refinery and Petrochemicals has defended its petroleum pricing strategy amid growing public concern over the cost of fuel, explaining that domestic pump prices cannot immediately reflect declines in international crude oil prices because of the time lag between crude procurement and refining.

    In a statement issued on Thursday, the refinery said it remains committed to ensuring Nigerians benefit from favourable market conditions through fair, responsible and sustainable pricing of petroleum products.

    The clarification comes amid mounting calls for further reductions in fuel prices following the sharp decline in global crude oil prices after the ceasefire agreement between the United States and Iran.

    According to the company, it has already reduced the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, by more than ₦200 per litre since May 30, 2026.

    It added that the ex-depot price of Automotive Gas Oil (AGO), also known as diesel, has been cut by ₦300 per litre, while Jet A1 aviation fuel has recorded a cumulative reduction of ₦520 per litre over the same period.

    The refinery said the reductions were implemented despite continuing to process crude oil purchased when international oil prices were significantly higher than current levels.

    “These reductions demonstrate our commitment to passing on cost efficiencies to consumers while maintaining the operational and financial sustainability of domestic refining,” the company said.

    Dangote Refinery explained that petroleum product prices do not move in tandem with daily fluctuations in international crude oil benchmarks because crude oil is typically purchased several weeks or months before refining.

    It noted that most crude supply contracts are based on monthly average pricing mechanisms rather than prevailing spot market prices.

    As a result, the petroleum products currently being supplied to the Nigerian market are largely produced from crude inventories acquired at substantially higher prices.

    According to the refinery, the average landed cost of crude processed in May stood at approximately 124.80 US dollars per barrel, while the average for June was 95.25 US dollars per barrel, compared with the current international benchmark price of about 71.01 US dollars per barrel.

    The company also explained that its crude purchases are not based solely on the widely reported Brent benchmark price.

    Instead, it said, its feedstock is acquired using a pricing formula based on Dated Brent plus applicable market premiums, freight and logistics costs, resulting in higher landed costs than headline international quotations.

    Despite the elevated procurement costs, the refinery said it deliberately absorbed a substantial portion of the increase rather than transferring the full burden to consumers.

    According to the company, the decision was aimed at promoting market stability, easing inflationary pressures and protecting Nigerians from the extreme volatility experienced in global energy markets.

    It argued that petroleum prices in Nigeria remain lower than those in neighbouring countries, even after accounting for taxes.

    The refinery disclosed that the latest ₦50 per litre reduction announced this week represents the fourth cut in petrol prices within one month, bringing cumulative reductions to more than ₦200 per litre.

    It stressed that its pricing decisions are based on actual production economics and inventory costs rather than short-term movements in international oil prices.

    Dangote Refinery further highlighted the strategic importance of domestic refining, saying its current production capacity is sufficient to meet Nigeria’s fuel demand.

    The company said increased local refining has strengthened the country’s energy security, reduced dependence on imported petroleum products, conserved foreign exchange and improved price stability for consumers and businesses.

    Looking ahead, the refinery expressed optimism that fuel prices would continue to moderate as lower-cost crude cargoes gradually replace higher-priced inventories in its production cycle.

    It, however, noted that further reductions would depend on favourable conditions in the international oil market.

    “Our objective remains unchanged: to supply high-quality, internationally compliant petroleum products at competitive prices while strengthening Nigeria’s energy security, supporting economic growth and ensuring the long-term sustainability of Africa’s largest refinery,” the statement said.

    The company thanked Nigerians for their continued support and reiterated its commitment to building a stable, efficient and globally competitive downstream petroleum industry that serves the interests of consumers, businesses and the nation.

  • BREAKING: Tinubu launches training programme for 5,000 youths under Presidential Metering Initiative

    BREAKING: Tinubu launches training programme for 5,000 youths under Presidential Metering Initiative

    ABUJA, Nigeria (NPA) — President Bola Ahmed Tinubu has announced a new skills acquisition programme that will train 5,000 young Nigerians, including members of the National Youth Service Corps (NYSC), as meter installers and technicians under the Presidential Metering Initiative (PMI).

    The President, in a statement titled “Jobs for Our Young People Remain Central to Our Renewed Hope Agenda,” said the initiative forms part of his administration’s efforts to create employment opportunities while addressing Nigeria’s electricity metering deficit.

    According to Tinubu, the Presidential Metering Initiative was established to bridge the country’s metering gap, eliminate estimated billing, protect electricity consumers and strengthen the nation’s power sector.

    “Through the Presidential Metering Initiative (PMI), which I established to close Nigeria’s metering gap, end estimated billing, protect consumers and strengthen the electricity market, we are opening a new pathway for 5,000 young Nigerians to be trained as meter installers and technicians under The Power Force,” the President said.

    He described the programme as more than a job creation initiative, saying it is designed to equip young Nigerians with practical technical skills that will prepare them for sustainable employment.

    “This programme is about jobs, skills and dignity,” Tinubu said.

    “It will equip young Nigerians with practical technical skills and connect them to real work in a sector that touches every home, every business and every community in our country.”

    The training programme is open to eligible Nigerians who have completed their secondary school education, with a dedicated quota reserved for members of the National Youth Service Corps.

    The President noted that expanding access to electricity meters remains a key component of his administration’s power sector reform agenda.

    According to him, proper metering will ensure consumers pay only for the electricity they use while improving transparency and efficiency in electricity distribution.

    “When homes and businesses are properly metered, Nigerians can pay for what they actually use. When electricity distribution companies collect revenues more transparently and fairly, they are better able to reduce losses, maintain infrastructure, expand connections and invest in better service,” he said.

    Tinubu added that the initiative would contribute to building a more efficient and sustainable electricity market that benefits both consumers and investors.

    “This is how we build a power sector that is fairer to consumers, stronger for investors and better able to deliver reliable electricity to the Nigerian people,” he said.

    The President disclosed that he has directed the Presidential Metering Initiative to work with the Federal Ministry of Youth Development, the National Power Training Institute of Nigeria (NAPTIN) and other relevant stakeholders to commence the programme within the next 30 days.

    He encouraged eligible young Nigerians to apply for the training via http://pmi.naptin.gov.ng

    “Join The Power Force. Learn a skill. Earn with dignity. Help us end estimated billing and be part of the work to light up Nigeria,” Tinubu said.

  • BREAKING: NNPC posts ₦4.34 trillion revenue, ₦462 billion profit in May

    BREAKING: NNPC posts ₦4.34 trillion revenue, ₦462 billion profit in May

    ABUJA, Nigeria (NPA) — Nigerian National Petroleum Company (NNPC) Limited generated ₦4.335 trillion in revenue and recorded a profit after tax of ₦462 billion in May 2026, underscoring strong operational performance across its upstream and midstream businesses.

    The figures were contained in the company’s Monthly Report Summary for May 2026, released on Wednesday.

    According to the report, NNPC also made cumulative statutory payments of ₦4.858 trillion between January and May 2026, reflecting its continued contribution to government revenue.

    The company reported an average crude oil and condensate production of 1.73 million barrels per day (mmbopd) during the month, while natural gas production stood at 7,774 million standard cubic feet per day (mmscfd).

    NNPC said upstream pipeline availability remained high at 98 per cent, highlighting improved operational efficiency and reliability across its production network.

    The report also showed significant progress on two of Nigeria’s major gas infrastructure projects.

    According to the company, the Obiafu-Obrikom-Oben (OB3) Gas Pipeline Project has reached 97 per cent completion, while the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project stands at 94 per cent completion.

    The projects are expected to strengthen domestic gas transportation, improve energy security and support industrial development upon completion.

    The report further indicated that Premium Motor Spirit (PMS) availability across NNPC Retail Limited stations stood at 57 per cent during the reporting period.

    Beyond its commercial operations, NNPC highlighted ongoing investments in healthcare through its corporate social responsibility initiatives.

    The company disclosed that on May 15, 2026, the NNPC Foundation commissioned and handed over a state-of-the-art 1.5 Tesla Magnetic Resonance Imaging (MRI) system to the Nnamdi Azikiwe University Teaching Hospital (NAUTH) in Nnewi, Anambra State.

    The facility includes chillers, an uninterrupted power supply (UPS) system, battery racks and a dedicated backup power system designed to improve diagnostic services at the tertiary health institution.

    NNPC said the May performance reflects its continued focus on operational excellence, infrastructure development, energy security and sustainable value creation across Nigeria’s oil and gas value chain.

    The company noted that its operational achievements, financial performance and strategic investments remain aligned with its objective of driving national economic growth while delivering value to stakeholders and host communities.

  • JUST IN: Kenya approves sweeping payroll reforms, AI strategy and major infrastructure investments

    JUST IN: Kenya approves sweeping payroll reforms, AI strategy and major infrastructure investments

    NAIROBI, Kenya (NPA) — Kenya’s Cabinet has approved far-reaching reforms to eliminate payroll fraud, strengthen public financial management, accelerate digital transformation and boost infrastructure development as part of a broad agenda to improve governance and stimulate economic growth.

    The decisions were taken during a Cabinet meeting chaired by President William Ruto at State House, Nairobi, on Tuesday.

    A major highlight of the meeting was the approval of a comprehensive government-wide payroll reform programme following an audit that uncovered suspected payroll irregularities amounting to KSh6.2 billion in just 12 of the country’s 53 state departments.

    According to the Cabinet, the audit exposed unauthorised alterations to payroll records, irregular salary payments, weak oversight of statutory deductions and fragmented payroll management systems.

    To address the irregularities, the Cabinet directed the Directorate of Criminal Investigations (DCI) to investigate the suspected fraud, dismantle criminal networks manipulating government payroll systems, verify payroll identification numbers, recover stolen public funds and prosecute all those found culpable.

    The government also approved a nationwide payroll audit covering all remaining ministries, departments, agencies and state corporations.

    Under the reforms, all public institutions will migrate to a revamped Integrated Human Resource and Payroll System, while cybersecurity will be strengthened through enhanced data validation, payroll cleansing, disaster recovery systems and integration with other public financial management platforms.

    As part of efforts to reduce government expenditure, the Cabinet froze the leasing or hiring of additional office space pending a nationwide audit of public office utilisation.

    Authorities also approved a programme to renovate existing government offices to improve efficiency and service delivery.

    In another landmark decision, the Cabinet established a Standing Cabinet Committee on Artificial Intelligence to coordinate Kenya’s national AI strategy and position the country as a regional leader in the responsible development and adoption of artificial intelligence.

    The committee will oversee AI-driven innovation, productivity, public service delivery, job creation and inclusive economic growth while ensuring appropriate governance and regulatory safeguards.

    Complementing Kenya’s digital economy agenda, the Cabinet approved the National Business Process Outsourcing (BPO) Policy to position the country as a leading global outsourcing destination.

    The government said the policy is expected to create thousands of quality jobs for young people, attract international investment and enable Kenya to capture a larger share of the global BPO market, projected to exceed KSh68 trillion by 2030.

    The Cabinet also established an Ad Hoc Cabinet Committee on El Niño Preparedness and Response, chaired by Deputy President Kithure Kindiki, to coordinate national preparations for the moderate to strong El Niño rains forecast later this year.

    The committee will oversee flood mitigation measures, evacuation planning, drainage clearance, reinforcement of vulnerable roads and bridges, deployment of emergency equipment and medical supplies, farmer advisories and the establishment of a contingency fund for disaster response.

    On infrastructure, the Cabinet approved several strategic investments, including the KSh26 billion Judicial Performance Improvement Project Phase II, to be implemented in partnership with the World Bank.

    The project includes the construction of a new Supreme Court complex, a dedicated Court of Appeal, a consolidated tribunals and Judiciary administration complex, and a modern Kenya Judiciary Academy to improve access to justice and enhance investor confidence.

    The government also approved an additional KSh16.6 billion to complete the flagship Mwache Multipurpose Dam Project in Kwale County.

    Once completed, the dam will supply 186,000 cubic metres of water daily to Mombasa and Kwale counties, helping to address chronic water shortages, support irrigation, strengthen climate resilience and provide a reliable water supply for millions of residents.

    Cabinet equally approved additional financing for the Modogashe-Samatar and Rhamu-Mandera road sections under the 750-kilometre Isiolo-Mandera corridor to improve connectivity, boost trade and strengthen regional integration across northern Kenya and the Horn of Africa.

    In the health sector, the government approved the KSh7.8 billion second phase of the Kenya-Austria Mother and Child – Our Future Project, alongside the Mother and Child Lifeline Initiative, to modernise maternal and neonatal healthcare at Kenyatta National Hospital.

    The initiatives are expected to expand specialised healthcare services, strengthen the health workforce and improve outcomes for mothers and newborns.

    The Cabinet also approved the Kenya Children Policy 2025, the Protection Against Domestic Violence (Amendment) Bill 2026 and the report of the Presidential Technical Working Group on Gender-Based Violence and Femicide to strengthen support for survivors and improve protection for women, children and vulnerable families.

    To boost industrialisation, the government endorsed the KSh5.8 billion Leather Value Chain Development Support Project, expected to create up to 120,000 jobs while unlocking the sector’s estimated KSh120 billion economic potential.

    It also adopted the National Cotton, Textile and Apparels Policy to revive cotton production, expand textile manufacturing and attract private investment.

    On the international front, the Cabinet approved Kenya’s hosting of the Secretariat of the Alliance of African Multilateral Financial Institutions, reinforcing Nairobi’s position as a leading African financial and diplomatic hub.

    It also authorised negotiations on a long-term Economic Partnership for Shared Development with China to expand trade, investment and market access for Kenyan exports, while endorsing the ratification of several international agreements covering migrant workers, wildlife conservation and regional partnerships.

  • FG urges states to harness AfCFTA opportunities to drive industrialisation, job creation

    FG urges states to harness AfCFTA opportunities to drive industrialisation, job creation

    ABUJA, Nigeria (Agency Report) — The Federal Government has urged state governments to take full advantage of opportunities offered by the African Continental Free Trade Area (AfCFTA) to accelerate industrialisation, expand exports, attract investment and create jobs across Nigeria.

    Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, made the call on Monday during a Working Visit and Strategic Engagement with State Commissioners of Commerce, Trade and Investment in Abuja.

    She said the meeting was convened to strengthen collaboration between the Federal Government and the states in advancing Nigeria’s industrialisation, trade expansion, investment promotion and employment agenda.

    “Closer collaboration between the Federal Government and the states will enable Nigeria to maximise the opportunities presented by the AfCFTA, while regular knowledge-sharing sessions will improve coordination on trade and investment initiatives,” Oduwole said.

    The minister described the AfCFTA as a key pillar of President Bola Ahmed Tinubu’s economic diversification strategy, aimed at expanding market access, strengthening regional value chains and enhancing Nigeria’s competitiveness across Africa.

    She disclosed that the ministry had commenced nationwide AfCFTA sensitisation and capacity-building tours, beginning with the North-West in Kano State, to prepare Nigerian businesses for emerging continental trade opportunities.

    According to her, the initiative brings together relevant government agencies and private sector stakeholders to equip businesses with the knowledge, skills and tools required to participate effectively in cross-border trade.

    “Every state and local government has exportable products capable of integrating into regional and continental value chains,” she said, urging sub-national governments to identify and promote sectors where they possess comparative advantages.

    Oduwole also announced that Nigeria would host the Creative Africa Nexus (CANEX) and the Intra-African Trade Fair (IATF) in Lagos in November 2027, describing the events as major opportunities to showcase Nigerian businesses to the rest of the continent.

    She urged state governments to mobilise manufacturers, exporters, investors and creative entrepreneurs to maximise the opportunities presented by the continental events.

    The minister further disclosed that Nigeria would assume the chairmanship of the AfCFTA Council of Ministers, positioning the country to lead key continental trade committees over the next year.

    She called for sustained collaboration among the Federal Government, state governments and the private sector to advance trade, industrialisation and economic prosperity across Nigeria and the African continent.

    Minister of State for Industry, Senator John Enoh, said the ministry remained central to achieving Nigeria’s economic diversification agenda through industrial growth and value addition.

    Enoh stressed the importance of stronger collaboration with state governments, noting that most industrial parks, manufacturing hubs and economic clusters are located within the states.

    He said the Federal Government had introduced a National Industrial Policy and was working closely with state governments to implement industrial clusters, investment promotion programmes and value-addition initiatives nationwide.

    Speaking on behalf of the state commissioners, Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, commended the ministers for fostering stronger federal-state collaboration to drive economic growth.

    She said the engagement would deepen policy coordination, align development programmes with the Renewed Hope Agenda and strengthen enterprise development across the country.

    Ambrose-Medebem noted that preparations for CANEX and the Intra-African Trade Fair required deliberate coordination among all levels of government, pledging the support of state commissioners to position Nigeria as Africa’s leading trade and investment destination.

    Also speaking, the Permanent Secretary of the ministry, Dr Chris Isokpunwu, described the engagement as a demonstration of the shared commitment of both federal and state governments to industrialisation, trade expansion, investment promotion and job creation.

    He said sustainable economic transformation could only be achieved through effective collaboration that translates national policies into tangible benefits for businesses and citizens.

    According to him, the ministry’s priorities include expanding exports, accelerating industrialisation, increasing trade volumes and creating sustainable employment through coordinated policy implementation.

    Isokpunwu also urged the commissioners to actively participate in the 17th National Council on Industry scheduled to hold in Enugu, describing it as an important platform for strengthening policy coordination and improving Nigeria’s industrial competitiveness.

  • Oluremi Tinubu commissions North-West Community Food Bank in Jigawa

    Oluremi Tinubu commissions North-West Community Food Bank in Jigawa

    DUTSE, Nigeria (NPA) — Nigeria’s First Lady, Senator Oluremi Tinubu, on Monday commissioned the National Community Food Bank for the North-West in Jigawa State as part of efforts to strengthen food security and support vulnerable households across the region.

    The commissioning ceremony was attended by Katsina State Governor Dikko Radda, who described the initiative as a landmark intervention that would enhance food security and improve the well-being of Nigerians.

    In a statement after the event, Radda said he joined the First Lady for the inauguration of the food bank and other projects aimed at improving healthcare, education and infrastructure in the North-West.

    “Earlier today in Jigawa State, I joined Her Excellency, the First Lady of the Federal Republic of Nigeria, Senator Oluremi Tinubu, for the commissioning of the National Community Food Bank (North-West) and other landmark projects that will strengthen food security, healthcare, education and infrastructure across our region,” he said.

    The governor described the National Community Food Bank as a pioneering initiative that reflects compassion, visionary leadership and a commitment to supporting vulnerable Nigerians.

    “I commend Her Excellency for championing this historic intervention, which will significantly enhance food security and improve the wellbeing of our people,” Radda said.

    He also expressed appreciation to President Bola Ahmed Tinubu for what he described as courageous reforms and steadfast leadership aimed at repositioning Nigeria for sustainable economic growth and shared prosperity.

    Radda congratulated Jigawa State Governor Umar Namadi on what he called the remarkable development strides being recorded in the state, noting that the projects inaugurated during the visit reflected purposeful leadership and a commitment to delivering the dividends of democracy.

    As Chairman of the North-West Governors’ Forum, Radda reaffirmed the commitment of governors in the region to deepen collaboration in advancing food security, quality healthcare, education and inclusive development.

    “We remain committed to working together in advancing food security, quality healthcare, education and inclusive development for the benefit of our people,” he said.

  • JUST IN: Umo Eno hails Ibom Air’s Uyo-Accra flights, reaffirms commitment to human capital development

    JUST IN: Umo Eno hails Ibom Air’s Uyo-Accra flights, reaffirms commitment to human capital development

    UYO, Nigeria (NPA) — Akwa Ibom State Governor Umo Eno has hailed the commencement of Ibom Air’s scheduled commercial international flights between Uyo and Accra, describing the development as a major milestone for the state’s aviation, tourism and economic growth.

    The governor, who was aboard the inaugural flight from the recently upgraded Victor Attah International Airport to Ghana’s capital, said the launch fulfilled his administration’s promise to commence international flight operations before the end of June.

    “I am delighted to join Ibom Air on the commencement of its scheduled commercial international flights between Uyo and Accra, fulfilling the promise we made to Akwa Ibom people before the end of June,” Eno said in a statement on Monday.

    According to the governor, the new international route will strengthen regional connectivity while opening fresh opportunities for tourism, trade, investment and economic development.

    “This milestone opens new opportunities for tourism, trade, investment and regional connectivity while strengthening Akwa Ibom’s position as a growing aviation hub,” he said.

    Eno also reiterated his administration’s commitment to investing in human capital, revealing that one of the pilots on the inaugural flight was among the young Akwa Ibom indigenes sponsored by the state government for professional pilot training.

    “This is another reminder that investing in our people is as important as investing in infrastructure,” he said.

    The governor noted that the achievement reflects his administration’s strategy of combining infrastructure development with investments in education, skills acquisition and professional capacity building.

    The commencement of the Uyo-Accra service comes days after the Federal Government upgraded the Victor Attah Airport to international status.

    Newpost Africa reports that Eno expressed appreciation to President Bola Ahmed Tinubu for approving the airport’s international designation, describing the decision as a significant boost to Akwa Ibom’s economic and aviation aspirations.

    He also commended the Minister of Aviation and Aerospace Development, Festus Keyamo, for his support and collaboration in achieving the milestone.

    “Your dedication, cooperation and shared vision have been instrumental in the progress recorded within the aviation sector,” the governor said.

  • Tinubu commissions rehabilitated Karu roads, says project will ease congestion, boost economy

    Tinubu commissions rehabilitated Karu roads, says project will ease congestion, boost economy

    ABUJA, Nigeria (NPA) — President Bola Ahmed Tinubu on Monday commissioned the rehabilitated and expanded road network from the Karu Interchange to the Customs Clinic Junction and adjoining roads in the Federal Capital Territory (FCT), describing the project as a key step toward easing urban congestion and improving the quality of life of residents.

    The commissioning came one week after the President inaugurated the Karu Satellite Town Water Supply Network in the same area.

    Represented by Vice President Kashim Shettima, Tinubu said the road project reflects his administration’s commitment to delivering infrastructure that directly impacts the lives of Nigerians.

    He said the rehabilitation and expansion of the roads would not only improve transportation but also stimulate economic activities in the area.

    “By expanding and rehabilitating these roads, we are not just laying asphalt; we are injecting life back into the local economy,” the President said.

    Tinubu recalled that upon assuming office in 2023, his administration recognised the need to prioritise infrastructure development in communities where Nigerians live, work and commute.

    “When we assumed office in 2023, we recognised that true development must reach where the people actually live, work and commute.

    “Indeed, this project stands as a clear testament to our promise to resolve urban congestion and uplift the living standards of our people. It is a direct product of our Renewed Hope Agenda in action,” he said.

    The President said the project forms part of the Federal Government’s broader commitment to improving transportation infrastructure, enhancing connectivity and supporting economic growth across the country.

    He reaffirmed his administration’s resolve to continue investing in critical infrastructure aimed at improving mobility, reducing travel time and creating a more conducive environment for businesses and residents.

  • URGENT: Six‑day Lagos blackout cripples homes and businesses as power crisis deepens

    URGENT: Six‑day Lagos blackout cripples homes and businesses as power crisis deepens

    LAGOS, Nigeria (NPA) — Households and businesses across Lagos have continued to grapple with a widespread electricity blackout that has entered its sixth day, forcing many small enterprises to shut down as rising fuel costs make generator use increasingly unsustainable.

    The prolonged outage has disrupted commercial activities across the state, with residents reporting difficulties in preserving food, pumping water, charging electronic devices and carrying out routine business operations.

    Many small and medium-sized enterprises (SMEs), already struggling with rising operating costs, say the prolonged power outage has pushed them closer to closure as they can no longer afford the high cost of diesel and petrol needed to run generators.

    Industry observers warn that the situation could further weaken the SME sector, one of Nigeria’s largest employers after agriculture, if electricity supply is not restored urgently.

    The power disruption has been attributed to a combination of reduced electricity generation at the Egbin Power Station, faults on critical transmission infrastructure and instability on the national grid.

    Egbin Power Station, located in Ikorodu, Lagos, is Nigeria’s largest gas-fired power plant with an installed capacity of 1,320 megawatts. Its reduced generation in recent days has significantly affected electricity supply across Lagos and the South-West.

    The situation has been compounded by a fault on the Omotosho–Ikeja West 330kV transmission line, one of the major transmission corridors supplying electricity to Lagos. The fault has restricted the volume of power transmitted into the state, resulting in reduced allocations to electricity distribution companies.

    Power supply was further disrupted following a national grid voltage instability on June 26, which reportedly caused several generating stations to shut down and affected critical transmission lines, including the Benin–Egbin 330kV line.

    Engineers are said to be working to restore full stability to the grid and repair the affected transmission infrastructure.

    The outage has affected customers served by both Eko Electricity Distribution Plc (EKEDP) and Ikeja Electric, leaving many communities without electricity for several consecutive days.

    The blackout has also disrupted operations at technology hubs, manufacturing firms and service providers, with many businesses relying entirely on expensive alternative power sources to remain operational.

    Residents have appealed to the Federal Government, the Transmission Company of Nigeria (TCN), electricity generation companies and distribution companies to expedite repairs and restore electricity supply.

    They warned that prolonged outages could worsen economic hardship, increase production costs and force more small businesses to close.

    Energy experts say the crisis highlights the persistent structural challenges facing Nigeria’s electricity sector, where generation shortfalls, ageing transmission infrastructure and recurring grid instability continue to undermine reliable power supply.

    They argue that long-term investments in generation, transmission and distribution infrastructure are critical to reducing recurring nationwide outages and improving electricity reliability.

    As repair works continue, thousands of households and businesses across Lagos remain hopeful that electricity supply will be restored soon to ease the mounting economic and social impact of the prolonged blackout.

  • Abiodun commissions Gao-Ibiade Road, unveils plans for more infrastructure in Ogun Waterside

    Abiodun commissions Gao-Ibiade Road, unveils plans for more infrastructure in Ogun Waterside

    ABEOKUTA, Nigeria (NPA) — Ogun State Governor, Prince Dapo Abiodun, has commissioned the reconstructed Gao-Ibiade Road in the Ogun Waterside Local Government Area, describing the project as a major step towards unlocking the area’s economic potential.

    In a statement issued on Friday, Abiodun said the road forms part of his administration’s commitment to expanding infrastructure and positioning Ogun Waterside for sustainable economic growth.

    He noted that the reconstruction aligns with plans to revive the Olokola Liquefied Natural Gas (OKLNG) project, alongside other strategic investments, including the proposed Ogun Deep Sea Port, oil exploration activities, a refinery, a naval base and a dockyard.

    According to the governor, the projects are expected to transform Ogun Waterside into a major industrial, maritime and logistics hub.

    Abiodun also announced that the reconstruction of the J4-Gao-Abigi Road would commence soon to improve connectivity and support the anticipated expansion of economic activities in the coastal axis.

    “Our administration remains committed to ensuring that every part of Ogun State benefits from purposeful infrastructure development as we continue to build a stronger, more prosperous and globally competitive Ogun State,” he said.