General News
NERC Hikes Electricity Tariff
An amended ‘special’ Multi Year Tariff Order to be known as MYTO 2.1 officially took off Wednesday. Essentially, from yesterday, electricity tariff went up.
However, because service delivery has not improved significantly, the Nigerian Electricity Regulatory Commission (NERC) has announced that distribution companies will not increase tariff for R1 and R2 (residential) consumers for six months. Other categories of customers would, however, witness an increase in what they pay for electricity.
Sam Amadi, chairman of NERC, told some journalists in Abuja Wednesday that the increase is premised on the verified losses that the DISCOs were facing and the new price of gas, which took off this month.
Amadi said: “The implication of the increase in losses level is that the tariff will go up because the cost of distributing power will increase.
“Each of the distribution companies will, however, design a tariff on how to recover their revenue because what NERC has done is to insist that they will not increase tariff for R2 customers for six (6) months.”
He further explained: “Essentially from today (yesterday), the tariff should be up but what is happening now is that they are going to lose money for the next six months because of that caveat.
“We have taken a regulatory policy to say that they will not increase the tariff of residential consumers for the next six months until there is an improvement in service delivery and this is bitter for them because they will not recover that money for that six months but they have accepted it, finally, as a sacrifice they have to make.
“The bottom-line is that tariff should have increased for everybody from January 1, 2015 going by the increase in the cost of doing business; increase in gas price, new loss levels but because of the commitment that NERC has made to ensure that consumers are not exposed further to increased cost until there is some improvement, we have frozen the increment for six months for residential consumer but they will administer their tariff to other consumers but the residential consumers are given special consideration.”
He noted: “There has been an ongoing long-running review of the MYTO. Basically, the tariff is reviewed every six months in what we call minor review. The minor review however coincided with a special review which is based on the fact that when the new owners took over, there was an agreement that there will be a review of the ATC & C (Aggregate Technical, Commercial and Collection) losses, which is simply to say that the new owners bought their assets with an understanding with the BPE (Bureau for Public Enterprises) and which NERC recognised that when they come, they will have an opportunity to validate the losses level which the BPE projected and upon which they bought the assets.
“The implication is that when they did the review and together with NERC it will be verified and use the loss level to get for them a much more reflective tariff because tariff is based on many factors which one of them is loss.”
He added: “So, if we had projected that the loss level in the industry is 30 per cent, it means that 30 per cent of revenue in the industry will be lost but if suddenly it becomes 50 per cent, the implication is that we have underpriced the losses and therefore the tariff will be reviewed.
“When we were privatising, there was some lack of credibility with the data that was put forward and the agreement was that there was no need to argue and that when they come in, they conduct independent study of the loss levels and verify with NERC who will put it back through a special tariff review if the study is ascertained to be credible. That is why it a special review and not our normal six months review because this is based on one of the recognition of the agreement that they have to confirm that losses are as we projected. The commission has now accepted those losses level and it is now to put it into the tariff.
‘‘The new tariff that is announced is a review of the MYTO to factor the losses that are now different based on verification and studies, factor the new price of gas which has changed; basically, those are the two major components for now.
“We approved an amended MYTO tariff which means that issued a new tariff order that continues with the framework of the tariff but now shows that for the remaining of the five years period, the figures are now different but we have not factored some changes like exchange rates and inflation.”
NERC said, however, that the new tariff had an implication for take-off date for a disciplined electricity market by January 1, 2015.
A separate statement announcing the tariff in Abuja NERC explained that with the commencement of MYTO 2.1, the Commission would now progressively hold electricity distribution, transmission, generation companies as well as other market operators to the terms and conditions of their licences.
Amadi said: “It is expected that the take-off of MYTO 2.1 will bring about improved service delivery as distribution companies are now expected to implement their investment plans for metering and strengthen their networks in line with their bid documents.”
General News
NUPRC Warns of Counterfeit, AI-Generated Appointment Letters

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has cautioned the public against fake recruitment offers and fraudulent employment letters circulating in the agency’s name.

Eniola Akinkuotu, head of Media and Corporate Communications of the Commission, stated that NUPRC has received reports of counterfeit and AI-generated appointment letters bearing names not known to the regulator.
The Commission also said fraudsters have been extorting money from jobseekers by promising placement within the agency.
NUPRC has reported the incidents to law enforcement and said investigations are underway.
The regulator reiterated that there is no ongoing recruitment exercise and warned members of the public not to make any payments for supposed job offers.
“Whenever the Commission decides to recruit, the process will be conducted strictly in accordance with extant laws and government regulations,” the statement said.
The Commission urged jobseekers to verify any purported offer and to rely only on official NUPRC communications for recruitment information.
The warning follows growing concerns about the misuse of digital tools, including artificial intelligence, to fabricate apparently authentic documents that can deceive the public.
General News
Africa50 Secures Fresh Capital, Strategic Partnerships to Accelerate African Infrastructure

Africa50, the pan-African infrastructure investment platform, has secured new investment commitments and strategic partnerships with international investors and Tanzanian institutions aimed at mobilising capital for infrastructure development across Africa.

The agreements, announced at the 2026 Infra for Africa Forum in Dar es Salaam, include a US$20 million commitment from British International Investment (BII) to Africa50’s Infrastructure Acceleration Fund (IAF), as well as partnerships covering natural gas, electricity transmission and healthcare infrastructure in Tanzania.
The latest commitments bring the IAF’s total capital commitments to approximately US$330 million.
Under one of the major agreements, Africa50, Tanzania Petroleum Development Corporation (TPDC) and TAQA Arabia will develop the first phase of a small-scale liquefied natural gas (LNG) project designed to distribute domestic natural gas to industrial and transportation customers across Tanzania.
Africa50 is partnering with TAQA Arabia and TPDC on the project, providing project development, investment and financial structuring expertise to develop a bankable model that could be replicated in Tanzania and other markets.
Mussa M. Makame, Managing Director of TPDC, said the partnership demonstrated Tanzania’s commitment to leveraging its natural gas resources to support national development.
“As a gas supplier to this project, TPDC will work with the project partners to broaden domestic access to cleaner, reliable energy and create greater value for the Tanzanian economy,” he said.
Pakinam Kafafi, CEO of TAQA Arabia subsidiary Rosetta Energy Solutions, said the LNG project would convert Tanzania’s gas resources into reliable energy for industry, communities and transportation.
“This project will turn Tanzania’s abundant gas resources into reliable energy for industry, communities and transport, strengthening energy security and accelerating industrialization,” she said.
Africa50 also signed a Memorandum of Understanding (MoU) with Tanzania Electricity Supply Company (TANESCO) to collaborate on electricity transmission Public-Private Partnerships (PPPs).
The partnership is expected to facilitate Tanzania’s first Independent Power Transmission (IPT) project, drawing on Africa50’s experience with its IPT project in Kenya.
Engineer Timoth Mgaya, Acting Managing Director of TANESCO, said the partnership would help Tanzania attract private capital and strengthen its transmission infrastructure.
“Partnering with Africa50 provides Tanzania with strategic project-development and financing expertise as we unlock private capital for Africa’s transmission infrastructure,” he said.
The agreement, he added, would contribute to the development of East Africa’s power market while supporting industrialisation, economic integration and inclusive growth.
In the healthcare sector, Africa50 and Tanzania’s Ministry of Health signed an MoU to expand access to renal care and dialysis services for patients suffering from kidney diseases.
The partnership is expected to provide healthcare infrastructure, reliable medical equipment, experienced operators and long-term investment to strengthen the country’s capacity to deliver life-saving renal services.
Meanwhile, BII’s US$20 million investment in the IAF makes the UK development finance institution the latest Limited Partner in the fund.
BII and Africa50 also signed an MoU to deepen cooperation and identify opportunities for co-investment and further mobilisation of capital into African infrastructure.
The IAF invests in equity and quasi-equity opportunities across power, transport and logistics, water and sanitation, digital infrastructure and social infrastructure.
The fund leverages Africa50’s relationships with African governments, corporates and project developers to deploy capital into infrastructure projects with strong commercial and development potential.
Leslie Maasdorp, Chief Executive Officer of BII, said the partnership would help mobilise additional capital into sustainable infrastructure across Africa.
“Africa’s infrastructure needs are significant, but so are the opportunities,” Maasdorp said. “By combining our expertise, networks and capital, we can help unlock investment that drives growth, creates jobs and improves lives.”
Alain Ebobissé, Group CEO of Africa50, said the new partnerships reflected the organisation’s evolution from a project development institution into a major infrastructure investment platform.
“Africa50 was created to develop bankable projects, mobilize finance for investments in Africa’s infrastructure and accelerate delivery,” he said.
According to Ebobissé, the organisation is now positioned to scale up infrastructure investment by translating the vision of African leaders into commercially viable projects capable of attracting capital from both African and international investors.
The agreements were announced as Africa50 marked its 10th anniversary under the theme, “A Decade of Economic Impact: From Vision to Delivery.”
General News
MTN Engages UNILAG, YABATECH Students on Careers in Technology, Finance, Cybersecurity

MTN Nigeria, leading technology company, recently hosted undergraduates from the University of Lagos (UNILAG) and Yaba College of Technology (YABATECH) for an immersive career engagement session, at the MTN Rooftop Plaza, Ikoyi, Lagos.

MTN
The event exposed students to career opportunities across cybersecurity, finance, internal audit and forensic investigations while providing practical insights into the skills required to succeed in today’s workplace.
The session was designed to bridge the gap between academia and industry by helping students better understand the diverse career paths available within the telecommunications and technology sector.
The engagement brought together students studying Economics, Banking and Finance, Cybersecurity and Accounting, providing an opportunity to interact directly with professionals from various business functions.
Through presentations and discussions, participants gained a deeper understanding of the competencies, experiences and continuous learning required to build successful careers in a rapidly evolving business environment.
The engagement comes at a time when technology-related roles, including cybersecurity specialists, are among the world’s fastest-growing occupations, according to the World Economic Forum’s Future of Jobs Report 2025.
During the visit, the students met with senior cybersecurity and forensic professionals who shared insights into their respective fields and discussed emerging trends shaping the future of work.
The sessions also highlighted the wide range of career opportunities available across different fields, demonstrating that success in the industry is not limited to any particular course of study.
Undergraduates were also introduced to the evolving nature of the audit profession, as data analytics, artificial intelligence and cybersecurity are becoming increasingly important areas of focus for internal auditors.
During a session on building a meaningful career in Internal Auditing, undergraduates were encouraged to approach their professional journeys with purpose, continuous learning and a commitment to personal growth.
The session emphasised that career success extends beyond securing employment and involves developing relevant skills, understanding one’s strengths and intentionally pursuing opportunities that align with personal values and long-term goals.
Speaking during the engagement, Chief Internal Audit and Forensic Services Officer, Ibe Kalu Etea, represented by the General Manager, Internal Audit and Forensics, Wasiu Ibrahim, encouraged the undergraduates to remain open to opportunities beyond their academic backgrounds and focus on developing transferable skills. “Students can take any career path they want to. You can upskill and transition into a different career, even if it is not what you studied in school.
“Do not let your course of study determine your career path. Focus on building relevant skills, staying curious and continuously learning because opportunities exist across many fields,” he said.
The Undergraduates also participated in an interactive question-and-answer session, where they sought guidance on career development, workplace expectations and professional growth.
The initiative reflects MTN Nigeria’s commitment to nurturing future talent by connecting young people with industry leaders and equipping them with the knowledge, exposure and confidence needed to navigate their career journeys.
E-Business3 days agoX Replaces Revenue Sharing wit New Creator Rewards Programme
Telecom3 days agoMTN Alerts Subscribers over Fake 25GB Anniversary MTN Data Giveaway
E-Financial3 days agoInterswitch, Temenos Commit to Advancing Nigeria’s Digital Banking Technology
E-Financial3 days agoFG Spent N3.1 Trillion on Domestic Debt Servicing in Q1- DMO
General News3 days agoFake Agency: ICPC Indicts NITDA, Others over Inadequate Due Diligence
General News3 days agoUNESCO Taps Oguamanam,Nigerian Scholar to Advisory Body on Science, Tech Ethics
General News3 days agoTax Reform Built on Taxing Prosperity, Not Poverty– Adedeji
News2 days agoMoove Achieves Unicorn Status With $250m Funding




















