News
NSIA, REA Plan N10Bn Solar System Roll-out

Drawing strength from the Economic Sustainability Plan (ESP), the Nigeria Sovereign Investment Authority (NSIA) and the Rural Electrification Agency (REA) are set to unveil over 200,000 Solar Home Systems under the “Solar Power Naija” deal.

The Solar Power Naija Programme is being launched under the ESP and will be supervised directly by the Vice President, Prof. Yemi Osinbajo.
The NSIA-REA partnership will see the NSIA creating an initial revolving fund of N10 billion for qualified developers to distribute and manufacture Solar Home Systems.
The fund will be accessible by Nigerian Electrification Program qualified developers under the existing REA and World Bank scheme that guides technical qualification and provides grants for developers to invest and participate in Off-Grid Electrification projects. The REA under the Ministry of Power will provide technical and advisory support to the NSIA as it rolls out the program.
This investment by NSIA is targeted at catalysing 200,000 off-grid connections in the first instance with a goal of reaching over 500,000 systems as the Fund revolves and is expanded through to 2023. The program is estimated to also create up to 20,000 jobs across manufacturing, assembly, installation and retail over the period.
Additionally, this partnership will help Nigeria meet its ESP target of increasing Electrification, this is a step towards creating 5 million solar connections over the next few years. At completion, it is expected that this investment will demonstrate locally that the Solar off-grid space is an investable segment of the power market.
Speaking on the partnership and the programme, Ahmad Salihijo, the Managing Director of the REA said “the partnership with NSIA is exciting in so many ways, we believe this investment commitment as approved by the NSIA Board is a harbinger for increased investments in the off-grid renewable space that will help Nigeria achieve its goals under COP 26 and eliminate the Electrification Gap in the country”.
Mr. Uche Orji, MD/CEO of the NSIA in his comment said “NSIA continues to prioritize climate-smart infrastructure to create access to affordable power to Nigeria’s underserved communities, particularly in the rural areas.
“NSIA recognizes the latent potential in these communities and believes that access to power is fundamentally important to enhancing the capacity of SMEs in these communities to support the economic growth of the country and employment.
News
Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.
According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.
Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.
He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.
“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.
He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.
The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.
In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.
He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.
News
NAICOM Issues New Licences to 43 Recapitalized Insurers

The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.
According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.
Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.
He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.
The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.
He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.
According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.
Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.
The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.
News
Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.
Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.
Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.
The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.
Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.
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