General News
Nebo, Johnson Back Omatek Moves to Cut Nigeria’s Power Consumption By 85%
Professor Chindu Nebo, minister of Power and his counterpart in the Ministry of Communication Technology, Dr. Omobola Johnson, on Monday described as iconic, the moves by Nigeria’s integrated Information and Communication Technology (ICT), Omatek Ventures Plc, to address Nigeria’s lingering electricity supply challenge through deployment of solar (technology) solutions to reduce power consumption in Nigeria by as a much as 85%.
Giving credence to the relevance and efficacy of the solutions during the unveiling in Lagos, Nebo said that Omatek has demonstrated the heartbeat of the present administration in tackling the perennial power challenge through alternate power sources and distribution.
The Power Minister said, “This kind of initiative makes it possible to live off-grid and this means you don’t need to be connected to the national grid before you can get efficient power supply to handle your home, office and industrial activities.
“Omatek has also demonstrated in line with Federal Government Policy. President Goodluck Jonathan has asked us to develop a renewable and energy efficiency policy which is at the final stage of implementation, we only the President’s approval to go ahead with the implementation. With the implementation, we believe it is something that will liberate Nigeria.
“Nigeria has never had a renewable and energy efficiency policy and what Omatek has demonstrated here in terms of solar power supply and LED indicate that they know exactly what the government wants to do because this imitative is perfectly in tandem with the policy of the Federal Government of Nigeria”.
Nebo said that with regards to LED bulb, Omatek has shown that everyone, not just companies, every Nigeria can cut power consumption by anywhere from 70 to 90 per cent.
“In other words, if your electricity in a month is N10,000, you can reduce to N3000 if you use LED bulb and this bulb conserves a lot of electricity. For a hundred watts of regular bulb, if you have a five watts of LED, it will serve you the same purpose, give you the same luminosity so at the end of the day, the whole country would benefit and what we are saying is this: If the whole of the country put LED in use, it will free us 1,200 megawatt of power for industry, manufacturing, SME and industrial revolution will further boom.
“So, this is a clarion call to all Nigerians to begin the process of modification of making all our offices LEDified, all homed lEDified. In fact, new housing estate shouldn’t get approval until they demonstrate that they will use LED all through because that is the only way we can save a lot of energy we waste a lot in this country. So, we should start doing the right thing now.
“Another of looking at it from the LED and conservation of LED is that when you free up 1, 200 megawatts of electricity for real-time good use- industrial, productive manufacturing functional use is like building a power plant. That kind of power plant would cost about half a trillion Naira and that is what you save and that is for the power plant. When that now comes down, it has multiplier effect”.
The event also witnessed the commissioning of the 12watts, 20 watts, 500 watts power solutions that replace the “I better pass my neighbour generator”, for small homes, shops, small and medium enterprises (SMEs), churches, rural electrification and rural system, street lighting implementation, schools and so son for students, farmers among others.
According to the Minister, “we just commissioned is a home solution, whether it is small home, kiosk solution, shop solution, SME and big solution. It is solar powered light integrated with Inverter, The days of ‘I better pass my neighbour’ generators are numbered. ‘I better pass my neighbour’generators kill. Many lives have died. But with this new solar inverter integrated unit, one can get 24/7 power supply without having to use any fuel- no petrol, no diesel, no kerosene, no candle, nothing.
“You can light up your home with that and for bigger homes, you can get 500 watts, you can do a lot more things. But with 3 kilowatts, you can power your refrigerator, you fans and maybe, air condition. If you now move up to 10 kilowatts, that is for SME. I don’t see why evey SME cannot benefit from 10 kilowatt solution because it will solve all your power challenges as small business. Then, if you are a bigger ones, you can now move up t 50 kilowatts solution we have commissioned all these today.
“We thank Omatek for showing the way for Nigeria to follow in addressing its power challenge. We are actually at a point of a new era for the country where we would launch Nigeria into an industrial revolution.”
Also, Dr. Omobola Johnson, in her remarks during a visit to Omatke Factory said, “I commend the management of Omatek for this initiative. We would continue to come up with policy that can help support your business through our local content initiative.
“More importantly, we urge Omatek to continue in its two lines of business: Computer assembly and solar technology solutions as the two are key to bridging digital divide and ensuring energy consumption efficiency in the country respectively.”
Already, Omatek, known for its innovations, has commissioned its 50KVA 3-phase off-grid solar solution factory that will represent the solar solution for factories, banks, telecoms firms, government and other organisations that require big power installations.
Off-grid solutions, on-grid solutions as well as LED bulbs were also displayed at the event, at Omatek factory at Oregun in Ikeja, and well attended by key stakeholders from the private sector who earlier in the day carried out facility tour of the Solar Installations implemented by Omatek at the Greenwood School, Corona and the Nigerian Stock Exchange.
Addressing the large audience that graced the event, Mrs Florence Seriki, chief executive officer, Omatek, said “These are all-in-one installations assembled locally and packed with Omatek’s solar, inverter, battery, controller in all-in-one carton and cane be self-installed.
“Omatek Solar Solution, which is a hybrid solution that provides 24 hours lighting/power Solution by use of our solar-led bulb-inverter hybrid solution; whilst providing 70 – 90 per cent cut/deduction in power consumption and drastically reducing power consumption by an average of 85 per cent on the overall grid; thus enhancing growth in the real sector and general economic development”.
According to her, “We have installed these solutions in schools, homes, offices and factories and proud to inform you that the education sector welcomed not just provision of power and green energy, the hostels and all reading areas have 24 hours lighting and this bridges the digital gap in our schooling system, as students had stopped reading in darkness.”
She also explained that, already, Omatek has almost completed the setup and the establishments of two local factories that will manufacture solar panels and the LED bulbs, saying only the all-in-one solutions are currently being produced locally.
Capturing key benefits inherent in the solar solutions, Seriki explained that the solutions “provides 24-hours alternate power/green energy for businesses, homes; provides 24-hour lighting solution to all; provides 24 hour solar energy and lighting solution for students, hostels, SMEs, homes, hostels, SMEs, small homes, shops; reduces power consumption by an average of 85 per cent by all; and well as providing affordable solar solution for continuous/uninterrupted lighting system.”
In addition, Seriki said the solar solution promotes safe and clean environment; reduces in fire risk by use of the LED solution and materials particularly used as well as bridging digital gap in the education system and enhance modern living and reduces cost of living and running businesses considerably.
“The Omatek LED bulbs will not require replacement for three to five years whilst the solar will last 25 years. Duration of the batteries are for five to 10 years,” she added.
Economic and Financial Crimes Commission (EFCC) has arraigned four persons before the Federal High Court in Lagos over an alleged money laundering scheme involving $5.3 million.
The defendants — Bamidele Ayodele Emmanuel, Abdullah Oriyomi, Garuba Fathiat Funmilayo and Gbenro Victor Ademola — were arraigned before Justice F. N. Ogazi of the Federal High Court sitting in Ikoyi on separate two-count charges bordering on money laundering.
According to the anti-graft agency, the alleged offence involved a total of $5,296,691 and contravenes the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
One of the charges against Emmanuel alleged that between January 1 and 31, 2025, he retained $826,691 in a Wema Bank account, which he allegedly ought to have known formed part of the proceeds of unlawful activities.
The EFCC alleged that the act was contrary to Section 18 of the Money Laundering (Prevention and Prohibition) Act, 2022.
All four defendants pleaded guilty when the charges were read to them.
Following their pleas, Bilkisu Buhari, prosecution counsel, told the court that investigations showed the defendants admitted handing over their personal details to one Afeez Animashaun, who allegedly approached them at Mushin Market in Lagos, where they carried out their businesses.
According to the prosecution, the personal information was used to register several companies, including College Compass Eduguide Nigeria Limited, Hortifresh Solutions Nigeria Limited, Eduboost Innovation Nigeria Limited and Fixit Hardware and Tools Nigeria Limited.
The EFCC further alleged that corporate bank accounts were opened in the names of the companies and used to receive millions of dollars within January 2025.
Buhari told the court that the arrangement enabled the actual operators of the companies to remain anonymous while facilitating the movement of suspicious funds through Nigeria’s financial system.
She urged the court to convict the defendants based on their guilty pleas and impose appropriate sentences.
Justice Ogazi ordered that the defendants be remanded in a correctional facility and adjourned the matter until August 4, 2026, for judgment.
Dele Oye, chairman, Alliance for Economic Research and Ethics (AERE), has raised the alarm that an estimated eight million micro, small and medium enterprises (MSMEs) shut down across Nigeria between January 2023 and June 2024, representing about 20 per cent of the country’s estimated 40 million SMEs.
Dele Oye, chairman, Alliance for Economic Research and Ethics
He also warned that the scale of the collapse exposes a deepening crisis in the sector, describing it as an existential threat to Nigeria’s economic foundation.
He disclosed the figures in a policy brief titled “The Gap: Nigeria’s Industrial Policy 2025 vs. The Lived Reality of SMEs.”
According to Oye, research consistently shows that as many as 95 per cent of Nigerian SMEs fail within their first five years of operation, highlighting the urgent need for policies that go beyond design to effective implementation.
Quoting Femi Egbesola, national president of the Association of Small Business Owners of Nigeria (ASBON), Oye described the situation as a humanitarian crisis.
“Many businesses simply cannot cope with the harsh economic environment. Owners are closing their shops, unable to meet loan obligations or manage skyrocketing operational costs. Several people have died under the pressure; others are in the hospital. It’s a humanitarian crisis,” Egbesola said.
Oye identified three major factors driving SME failures: macroeconomic instability, limited access to affordable finance and soaring energy costs.
He, however, commended the Federal Government’s newly introduced Nigeria Industrial Policy 2025 (NIP2025), describing it as an ambitious framework designed to reposition the country’s manufacturing sector.
On the policy championed by the Federal Ministry of Industry Trade and Investment, Senator John Owan Enoh, minister of State for Industry, explained that it seeks to raise manufacturing’s contribution to Nigeria’s Gross Domestic Product (GDP) to 15 per cent by 2030 and 25 per cent by 2035, while boosting exports, creating jobs and positioning Nigeria as Africa’s leading industrial hub.
Oye noted that the policy rightly recognises MSMEs as central to achieving those objectives, pointing out that the sector contributes 46.32 per cent of Nigeria’s GDP and accounts for about 87.9 per cent of total employment.
He said the policy promises single-digit loans, industrial clusters, technology incubation centres, skills development programmes and fiscal incentives aimed at supporting businesses.
Despite these commitments, Oye argued that there remains a wide gap between policy intentions and the realities confronting entrepreneurs.
“For millions of Nigerian entrepreneurs struggling to survive, the NIP2025 reads less like a practical roadmap and more like a distant promise,” he said.
According to him, inflation, which climbed to 33.4 per cent in July 2024, persistent naira depreciation and the removal of fuel subsidies have sharply increased production and transportation costs, forcing many SMEs to downsize their workforce by as much as 70 per cent.
He also lamented the limited access to affordable financing, noting that only between 15 and 20 per cent of SMEs have access to formal bank credit. Where loans are available, he said, lending rates now exceed 35 per cent, making borrowing unsustainable for most small businesses.
Energy shortages remain another major burden, with businesses enduring prolonged power outages and relying heavily on generators.
Oye noted that diesel costs alone consume as much as 30 per cent of revenue for many SMEs.
He argued that previous industrial policies failed largely because of weak implementation rather than the absence of good ideas.
According to him, although government interventions have increased credit availability over the years, most SMEs use borrowed funds to cover operational expenses such as rent, inventory and energy costs instead of expanding production because of the difficult business environment.
To reverse the trend, Oye called on the Federal Government to declare an SME emergency and introduce targeted measures, including genuine single-digit interest loans, energy support for productive sectors and a moratorium on multiple taxation by state and local governments.
He also recommended loan products that align with SME cash flow cycles through longer repayment periods, revenue-based financing and appropriate grace periods.
In addition, he urged the government to prioritise the development of SME industrial clusters by providing reliable electricity, water, roads and security in selected locations within one year.
Oye further called for greater transparency through the National Industrial Development Monitoring System (NIDMS), recommending quarterly publication of detailed data on SME financing, beneficiaries, sectors and employment outcomes.
While describing Senator Enoh’s advocacy for NIP2025 as commendable, Oye stressed that Nigeria’s entrepreneurs need effective implementation rather than another policy document.
He said the policy would only succeed if it delivers tangible benefits to business owners, including bakery operators struggling with rising costs, transport operators forced to cut jobs because of higher diesel prices and artisans fighting to keep their businesses afloat.
“The ambition is right, the execution must now match it.”
MENXTT TECH NG, a Lagos-based technology company, has launched an initiative to make quality Dell laptops more affordable for Nigerians through flexible payment plans and extended warranty support.
The company said the initiative was aimed at helping students, entrepreneurs, professionals and small businesses acquire reliable computing devices despite rising technology costs.
According to the company, customers can now purchase premium pre-owned Dell Latitude, Dell Precision and Dell Inspiron laptops at competitive prices, with selected models available under staggered payment arrangements.
The laptops, it said, are designed to meet the needs of users ranging from students and office workers to architects, engineers, software developers, graphic designers and video editors.
Speaking on the initiative, the Co-Founder of MENXTT TECH NG, Mr Anthony Emeka Nwosu, said access to quality technology should not be limited by financial constraints.
“A laptop is no longer a luxury; it is an essential tool for education, business and career development.
“Unfortunately, many people are forced to settle for unreliable devices because of the high cost of new laptops.
“At MENXTT TECH NG, we want to bridge that gap by providing durable Dell business laptops at affordable prices, backed by a full one-year warranty and flexible payment plans.
“We want every student, entrepreneur, freelancer and business owner to have access to technology that helps them succeed,” he said.
Nwosu explained that every laptop undergoes comprehensive testing before delivery and comes with a one-year warranty, an original charger, a complimentary laptop bag, Windows 11 operating system and Microsoft Office Suite pre-installed.
He added that the company, an authorised Bitdefender Antivirus reseller in Nigeria, also installs genuine Bitdefender security software on every system to protect customers against cyber threats.
According to him, customers requiring additional productivity tools can also have licensed Foxit PDF software installed on their devices.
Nwosu said the flexible payment option was introduced in response to prevailing economic realities, enabling customers to spread payments over an agreed period.
He noted that the arrangement would make it easier for students, startups and growing businesses to acquire quality computers without placing excessive pressure on their finances.
Beyond laptop sales, the company provides information technology consultancy, computer repairs, software licensing, cybersecurity solutions and digital transformation services to organisations across Nigeria.
He reaffirmed the company’s commitment to supporting Nigeria’s digital economy by making dependable computing devices and enterprise technology solutions more accessible to individuals and businesses.
According to him, the initiative reflects MENXTT TECH NG’s vision of combining affordability, quality products and professional after-sales support to help more Nigerians participate in the country’s expanding digital ecosystem. (NAN)
EFCC Arraigns 4 over Alleged $5.3m Fraud Scheme
CBN Orders N19Bn Refunds to Customers as Complaints Rise
Access Bank Debunks Shutdown Report, Vows Action against Perpetrators
Oye, AERE Raises Alarm as 8m MSMEs Collapse in 18 Months
Kaspersky Uncovers Cyber Threats Defining the First Half of 2026 in Nigeria, Others
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
From Scarcity to Scale: What Africa Can Learn from India’s Agricultural Transformation
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
BON Establishes Six Ad Hoc Committees to Modernize Broadcasting
Telecom3 days agoFact-Check: Elon Musk’s “Tesla Pi Phone” is Internet Rumor
E-Financial3 days agoMalpass, Ex World Bank Chief Raises Alarm over Nigeria’s Secretive Debt Structures
News3 days agoCIBN, ACAMB Push for Financial Inclusion, Women Empowerment
Telecom3 days agoHow and Why Apps Deplete Data – ALTON
E-Financial3 days agoS&P Global Acquires Agusto & Co. to Strengthen Credit Ratings Across Africa
Telecom3 days agoGalaxy Backbone Soft Launches Government Service Portal to Simplify Access to Public Services
Broadcasting3 days agoAfrica Prudential Posts N1.59bn Profit in H1 2026, Reaffirms Digital Growth Strategy
E-Business3 days agoNDPC Directs DCPMIs to Register with Agency or Face Legal Consequences