News
Buhari Rejects New Electricity Tariffs, Wants Improved Power

President Muhammadu Buhari has frowned at the current electricity tariffs, stating that until there is stable power supply in the country, electricity tariffs cannot remain at their current level.
The president, who was represented by the Vice President, Yemi Osinbajo, said this in Lagos on Wednesday, October 7, at the annual general meeting of the Manufacturers Association of Nigeria (MAN) where he was the special guest of honour.
A statement by Mr Laolu Akande, senior special assistant to the President, quoted the Vice President as saying; “Power is, of course, crucial and as the president said in his inaugural address, to which President Mbeki referred, the question of power is one that’s absolutely crucial to manufacturing and practically everything else and we shouldn’t be rejoicing at 4000mw of power.
But the problems are historical and several of those problems will need tackling head on, on a day-by-day basis. One aspect of the problem that I want to speak about, because this also affects manufacturing, is the whole idea of the tariffs. Of course, the president of MAN just said that we’ve one of the most expensive electricity in the world.
“Now, the truth of the matter is that at this point, if we want to have a cost-[reflective] tariff, the only way is to service that core value chain and ensure we’re paying and compensating the value chain–from generation down to distribution–a cost effective tariff. You can’t have that cost- effective tariff without some pay. At the moment, how much it costs to produce power, and the amount of power generated, the losses on account of distribution are significant. In some cases, you’ve up to 40% losses in distribution, and of course, it’s the distributing companies that have to take that burden. The generating companies are producing power, but they expect to be paid for all the power they produce. Now, if 40% of this is lost, it means the discos cannot collect 40%, but they’ve to pay for it somehow. So, government has to come in and play some kind of role in order to ensure that the whole value chain is paid for.
“But the most important thing is that the cost of power is reflective of costs that have to be borrowed at every stage of the value chain and today the cost of power, if it’s going to be reflective in any way is simply what it is. It’ll be very difficult indeed except if we’re going to introduce yet another subsidy and by the way, a fair amount of that goes on already in the way that government supports the gencos and the discos. But I think we must be ready to accept that for a while.
“Until things stabilise somewhat, tariffs cannot remain at the levels at which they’re today, they cannot remain at that level, and that is just simply the truth of the matter. It certainly means that there may be higher costs, but I don’t think that a option of not having power is really what we want. The real issue of course is that at the end of the day, some of the cost goes to the consumer; but a cost-reflective tariff is an absolute necessity, otherwise, privatisation and all of that simply doesn’t make sense”.
News
Anambra Cuts Monday Pay to Kill Sit-at-Home

Anambra State will implement pro-rata salary payments for civil servants starting February 2026, targeting chronic Monday absenteeism from the long-running sit-at-home order, Information Commissioner Dr. Law Mefor announced Saturday.

Soludo
Speaking at an Awka briefing after the Executive Council’s end-of-tenure retreat, Mefor said improved security and transport have eliminated excuses for the four-year disruption, which cost the state trillions in lost revenue. “Workers enjoyed full pay despite staying away; now, no work means no pay for that day, calculated over 24 working days,” he stated.
Compliance measures include mandatory Monday clock-in forms, with markets urged to reopen fully amid bolstered security. This builds on a January 22 executive order docking 20% pay from teachers absent on Mondays.
Mefor warned that lost Mondays cripple revenue collection and productivity, rejecting alternatives like Saturday shifts as capitulation to agitators.
News
Stakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit

As AI adoption accelerates across Nigeria, leaders at the “AI in Action Now” conference 2026 have called for a balance between rapid innovation and strict regulatory governance. The event, held at the Lagos Oriental Hotel, highlighted both the doggedness of Nigerian builders and the risks of unregulated data usage.

Dotun Adeoye, Co-Founder of AI Nigeria, raised alarms over “Shadow AI”, a trend where employees upload sensitive official documents to public AI platforms. He praised the Nigerian Data Protection Commission (NDPC) for its recent aggressive stance, including multi-million-dollar fines against major banks and social media brands.
“Innovation without governance is dangerous. The regulator now has the job of educating players. We are working in partnership with them to ensure players don’t just get fined, but actually understand how to protect data locally rather than storing it abroad, ” Adeoye noted.
Addressing issues of lack of infrastructure to carry AI adoption, Conference Convener Debola Ibiyode admitted that while Nigeria lacks the traditional foundation for AI adoption, the tech community cannot afford to wait.

“The simple answer is we don’t have the infrastructure, but Nigeria has never really had infrastructure to drive anything, and we still thrive, ” Iboyode said, encouraging students and builders to look beyond current limitations. “Once we start to build based on what we have now, it will encourage those who need to provide the infrastructure to do their part. The world will not wait for us,” she insisted.
To bridge this gap, she highlighted the AI Foundry Africa, an incubator designed to mentor ideas into market-ready products.
Meanwhile, speaking to journalists on the sidelines, Biodun Ogunleye, the Lagos State Commissioner of Energy and Mineral Resources, echoed the sentiment that the government’s role is to facilitate the right environment through partnership. He emphasized that data generated from interactions with the government must have long-term value.
“We must ensure that in all facets from production to interaction with government, the tools required to ensure data has value are appreciated,” Ogunleye stated.
He concluded that through private-sector collaboration, the government can focus on its primary functions while leveraging AI to ensure the nation aspires for the future.
News
35 Million Nigerians Face Acute Hunger in 2026, UN Warns

About 35 million Nigerians face acute hunger risks in 2026, including three million children battling severe malnutrition, the United Nations has warned, attributing the crisis to collapsing global aid budgets and escalating violence in the northeast.

UN Resident and Humanitarian Coordinator Mohamed Malick Fall disclosed this on Thursday during the launch of the 2026 humanitarian plan in Abuja, noting that the traditional foreign-led aid model proves unsustainable amid Nigeria’s escalating needs.
He highlighted dire conditions in Borno, Adamawa and Yobe states, where over 4,000 people perished in the first eight months of 2025 from surging suicide bombings and attacks—equalling the entire previous year’s toll.
The UN now targets $516 million to deliver lifesaving aid to 2.5 million people this year, a sharp drop from 3.6 million in 2025 and half of prior levels, forcing prioritisation of only the most critical interventions.
Fall stressed, “These are not statistics. These numbers represent lives, futures and Nigerians,” as shortfalls last year compelled the World Food Programme to halt support for over 300,000 children after resources dried up in December.
Yet, Fall acknowledged Nigeria’s increasing national ownership, including local funding for lean-season food assistance and proactive flood early-warning systems, signalling a shift toward self-reliant crisis response.
E-Financial3 days agoZenith Bank Gets Regulatory Approval for Full Takeover of Paramount Bank
Telecom3 days agoNew Investment Fund Targets Acceleration of Emerging Technology in Nigeria
E-Business3 days agoFirm Detected a Fivefold Surge in QR Code Phishing Attacks in the Second Half of 2025
News3 days agoNITDA Commits to Digital Inclusion for Persons with Disabilities
General News2 days agoPalmPay User Shares Experience on Fintech Apps to Trust in Nigeria
News2 days agoStakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit
General News2 days agoNigerians Target Self-Improvement, Business Startups in 2026 Google Data
General News2 days agoHow Inside Jobs and Policy Shocks Trigger Nigeria’s Rising Loan Crisis











