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Electricity Subscribers in Nigeria Climb to Nearly 12 Million

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The total number of active electricity customers nationwide increased from 11.89 million in July to 11.96 million in August 2025, according to the Nigerian Electricity Regulatory Commission (NERC).

Released via its official social media handles on Monday, the Commission’s latest Metering Factsheet for July and August 2025 noted that the updated active consumers data spreads across all 11 electricity distribution companies (DisCos) in the country.

“Out of these, 6.58 million customers were metered, resulting in a metering rate of 55.01%, up slightly from 54.71% in July. A total of 70,888 customers were newly metered in August, compared to 76,783 in July, reflecting ongoing metering efforts across the Nigerian Electricity Supply Industry (NESI),” the regulator stated.

The improved metering figures reflect ongoing reforms and investments in customer management by DisCos, aimed at enhancing billing transparency and consumer trust, according to NERC.

Eko, Ikeja, and Abuja DisCos were ranked among the top performers in metering coverage nationwide. Eko DisCo recorded a metering rate of 84.25%, Ikeja DisCo 84.83%, while Abuja DisCo stood at 73.92%.

In April, NERC penalized eight DisCos for failing to adhere to the monthly energy caps imposed on estimated billing for unmetered customers. The penalised companies were the distribution companies covering Abuja, Ikeja, Eko, Enugu, Jos, Kaduna, Kano, and Yola.

The Commission imposed a combined fine of over ₦628 million on the eight DisCos. In addition to the monetary penalties, NERC directed each company to provide credit adjustments to all affected customers.

Earlier, NERC reported that DisCos installed a total of 225,631 meters in the second quarter of 2025, marking a 20.55% increase compared to the 187,161 meters installed in the first quarter of the year.

According to NERC’s Q2 2025 report, of the total meters installed, 147,823 units (65.52%) were deployed under the Meter Asset Provider (MAP) framework, 65,315 meters under the Meter Acquisition Fund (MAF) scheme, 12,259 meters through the Vendor Financed framework, and 234 meters were installed under the DisCo Financed scheme.


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Conoil Bonanza Winners Emerge

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Conoil Plc is spreading joy this Valentine season as the first group of winners in its Valentine Bonanza promotion have been announced and rewarded. Launched on February 14, the campaign continues to delight customers at participating retail outlets.

The initial raffle draw, conducted on February 21, saw fortunate customers receive ₦10,000 worth of free petrol each. The draw was carried out publicly, with media representatives present to ensure full transparency. With the promotion still ongoing, more customers have the opportunity to join in and potentially be among the next winners.

A Conoil Management spokesperson explained that the initiative is a way to show appreciation to loyal customers for their ongoing support. “Our customers have responded impressively to the bonanza, with strong participation recorded across our stations,” the spokesperson said.

The second and final phase of the promotion is now in motion. Customers who purchase at least 10 litres of petrol at any participating Conoil station remain eligible to win in the grand finale raffle.

The grand finale is set for February 28 at 12 noon. Motorists in Lagos and Ogun states are encouraged to visit Conoil outlets to collect their tickets and take part in the exciting conclusion of this Valentine celebration.


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PalmPay Couples Show How Love Is Funded Digitally

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PalmPay users took to the #LoveWithPalmPay campaign to show how experiences are powered through seamless banking.

It’s the month of love and social media has been filled with couples showing affection with gifts. As digital payments become embedded in everyday life, the way relationships are planned, funded, and experienced is evolving.

Recent insights from SBM Intelligence 2025 ‘Love in the Air’ report show that despite economic pressures, most Nigerians still set aside dedicated budgets for Valentine’s Day, with the largest percentage planning to spend between N51,000 and N100,000, while less than 5% are willing to spend above N500,000.

This growing intentionality highlights the need for platforms that help people manage their money more effectively, offering features like free transfers and tools that make it easier to send, track, and preserve funds while still showing up for meaningful moments.

Through the #LoveWithPalmPay campaign, PalmPay set out to show how the platform is enabling users to plan, pay, and celebrate meaningful moments with greater ease.

During the Valentine’s season, PalmPay invited couples across Nigeria to share their stories through the #LoveWithPalmPay campaign, celebrating how digital banking supports their individual expressions of love.

The campaign saw strong participation, with many PalmPay couples submitting entries that showcased how they use the app to plan surprises, pay for outings, and stay connected through everyday transactions.

From these entries, four couples were selected, each showcasing how PalmPay has enabled fast and reliable transactions in key moments.

One video from @simply.omotoshan, one of the selected couples, captures the role of seamless payments in making their spontaneous moments possible.

She said in her entry video: “Our cutest money moment with PalmPay was when we planned our Valentine’s picnic and realized we had forgotten half of the things we needed; literally, half of everything. We rushed to the mall to get cakes, food, decorations, and all the essentials. When it was time to pay, we used PalmPay.

“The transaction was smooth, fast, and stress-free.  In no time, we were done setting up our Valentine-themed picnic with everything perfectly ready. Honestly, all our experiences with PalmPay have been easy and satisfying, but this one is definitely our cutest money moment. Thank you, PalmPay.”

A testimonial from the fourth selected couple, Mohammed and his wife, reflects his excitement: “Hello PalmPay, thank you so much for selecting us as one of the winners of the #LoveWithPalmPay campaign. We truly appreciate this. My wife and I are very grateful. Thank you, PalmPay, for the love and support. We’re so happy and thankful for the N100,000 reward. We love you, PalmPay, and long live PalmPay. Thank you so much.”

Beyond the feel-good stories, the campaign reflects a broader shift: fintech is no longer just about transactions, it’s about enabling experiences. Reliable payments, fast transactions, and accessible financial tools reduce the friction that can disrupt important moments, allowing users to focus on connection rather than logistics.

From paying for dinner to managing other expenses, PalmPay continues to demonstrate how digital financial services support modern relationships, proving that in today’s economy, love is not only felt, it’s funded digitally.

 


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KPMG Strengthens Africa Leadership to Support Long‑term Growth Across the Continent

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KPMG has appointed Tola Adeyemi as Chief Executive Officer for KPMG in Africa, alongside the addition of Professor Olayinka David‑West and George Njenga as independent members of the Africa Governance Council (AGC).

Effective from March 2026, the appointments reinforce the firm’s leadership expertise, underscore a long‑term commitment to Africa and highlight confidence in the continent’s growth potential.

“Africa is one of the most dynamic and promising regions in the global economy, and KPMG is committed to playing a meaningful role in its growth story,” said Tola Adeyemi, incoming CEO for KPMG in Africa.

He continued: “It is a privilege to step into this role at such a pivotal moment for both KPMG and the continent. I look forward to building on our strong, connected and high‑performing base to deepen collaboration and deliver consistent quality and impact across our markets.”

KPMG is recognised globally for its commitment to quality, integrity and professional excellence, supported by a strong global network of member firms. Trust remains the foundation of the audit and accounting profession, with high standards of governance, ethics and audit quality increasingly demanded across Africa’s public and private sectors.

KPMG One Africa’s approach brings the continent closer together with strong leadership to strengthen cross-border collaboration and offer shared expertise and consistency which is business‑critical to help clients navigate complex risks and unlock sustainable growth opportunities.

Commenting on the appointment, Professor Ben Marx, Chairman of the Africa Governance Council, said: “Tola Adeyemi is exceptionally well positioned to lead KPMG One Africa. In addition to his global perspective as a member of the KPMG Global Council, he brings significant influence and credibility as a respected business leader across the continent.”

The appointments of Professor David‑West and Mr Njenga to the Africa Governance Council, which provides board level governance, further strengthens independent oversight, bringing strong academic credentials alongside deep strategic and business expertise.

“These appointments reinforce KPMG’s commitment to strong governance, accountability and leadership depth,” Marx added. “They complement our established African leadership team, in‑country managing partners and regional senior partners, further enhancing our client‑centric approach across Africa.”

 


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