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Siemens Moves to End Electricity Theft with New Technology
The new power supply deal between Nigeria and Siemens AG, will see the German company deploy modern technology that will end the incessant problem of meter bypass leading to loss of billions of naira by Distribution Companies (Discos).
Speaking during a web conference, Onyeche Tifase, Managing Director of Siemens Nigeria, said that the issues of collection and power theft remain a major challenge in the industry, stressing that with the new technology, any infringement on the meters would be monitored real time.
Siemens lamented that the Aggregate Technical, Commercial, and Collections Loss (ATC&C), which is the difference between the amount of electricity received by Disco from the transmission company and the amount of electricity for which it invoices its customers, is currently as high as 50 per cent.
The federal government recently began the implementation of the deal with the German firm which is expected to overhaul the beleaguered sector in three phases between now and 2025.
The first phase of the deal would see the upgrading of 105 power substations and the construction of 70 new ones, manufacture and installation of 35 power transformers, installation of 3,765 distribution transformers and building of 5,109 km distribution lines with a potential generation capacity of over 13,000mw.
In phase one, 7gw is expected to be achieved between now and 2021, with the upgrading of transmission and distribution of the Transmission Company of Nigeria (TCN) and Discos expected to contribute an additional 2gw,while for phase two, 11gw will be achieved between 2021-2023, with full use of existing generation and last mile distribution capacity.
The third part will see the attainment of 25gw between 2023-2025 with appropriate upgrades and expansion in generation, transmission and distribution.
Tifase maintained that the company had identified everything that needs to be done to transform the sector, noting that in the past, decisions on the sector were over-ambitious with no clear plan on how to achieve them.
She noted that with the new deal, which saw the federal government pay an initial counterpart funding of about N8.6 billion a few weeks ago, every action and every phase of the execution has been carefully mapped out to avoid the failure of the project.
She explained that with minimal human interference and greater automation, the practice of cutting off the meter and stealing of electricity will be eradicated.
“This requires the participation of all stakeholders. We will bring the technology which allows us manage meters, vending and other data that will allow collection and reconciliation of payment.
“You cannot tamper with that meter because there’s real-time intervention, so, we can switch off when it is being tampered with. We have identified what we need to do about those smart meters” she said.
She added that with the new move to ensure that there’s a cost-reflective system and the Nigerian Electricity Regulatory Agency’s (NERC) efforts, Nigeria will experience a gradual attainment of self-sufficiency in power supply.
Tifase, lamented that inadequate power supply in the country had led to mass exodus of companies and individuals which had also resulted in loss of Foreign Direct Investment (FDI).
The Siemens boss noted that with the company’s experiences in Iraq, Egypt and other third world countries, Nigerians would soon join the list of countries with adequate power supply.
In his intervention, Special Adviser, Policy, to the minister of power and Secretary, Presidential Power Initiative (PPI) Implementation Committee, Mr. Abba Aliyu, noted that lack of investment, inadequate infrastructure, uncoordinated policy implementation have been issues that beset the sector.
He assured that the federal government had put structures in place to ensure that the agreement and implementation of the Siemens deal is devoid of political considerations so as to outlive the current administration.
He said that there’s a clear governance structure which has made the operators comfortable to sit at the same table to negotiate the terms and conditions of the agreement.
For a business to remain strong and relevant, experts have urged entrepreneurs to engage in solving problems in the Micro, Small, Medium Enterprises (MSMEs) space and build strong partnerships.
The experts stated at the United Bank for Africa (UBA) Business Series with the theme, “Stronger Together: Building Powerful Business Partnerships for Progress.”
Four seasoned business owners including: Beauty Entrepreneur, Dabota Lawson; Real Estate Mogul and Entrepreneur, Wale Ayilara; Journalist and TV producer Peace Hyde and Fashion Entrepreneur, Mai Atafo, encouraged participants to solve problems, invent in products & service and, create value to remain stronger in business and thrive amid competitive business environment.
Ayilara expressed that an entrepreneur must be able to solve problems and build a strong partnership in order to remain relevant in a challenging business environment.
He stressed further that there are a lot of business opportunities in Nigeria and questioned where consumers money is directed into.
Lawson said the inability to find a suitable sensitive skincare that matches her skin tone forced her to start her company.
On her part, Hyde stated that she ventures into media on the backdrop of telling Africa’s stories to international audiences.
Atafo said passion made him venture into fashion, maintaining that being an entrepreneur in Nigeria is tough work.
Speaking earlier, UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, highlighted the critical role of partnerships in today’s dynamic business environment.
“In an increasingly interconnected world, the power of collaboration cannot be overstated. At UBA, we recognise that collaboration is the cornerstone of sustainable business success.
“The ‘Stronger Together’ Business Series is designed to inspire entrepreneurs and corporate leaders to forge meaningful alliances that drive progress, unlock opportunities, and contribute to Africa’s economic transformation,” Shamsideen said.
Nigeria’s leading commercial bank, First Bank of Nigeria, has joined forces with Mighty Media Plus Network Limited for the maiden edition of the QEDNG Creative Powerhouse Summit.
Also supporting the event are Nigeria LNG (NLNG) and Shell Nigeria, two major players in the country’s energy and development sectors.
Chief Executive Officer of Mighty Media Plus Network Limited, Olumide Iyanda, announced the partnerships in a statement on Monday.
Mr Iyanda described FirstBank’s involvement as a strong statement of the bank’s belief in the power of Nigeria’s creative sector.
“FirstBank’s support is a reaffirmation of its long-standing commitment to promoting the creative economy,” he said. “Through First@arts, the bank has become a reliable partner to talents, institutions, and organisations working to grow Nigeria’s cultural assets.”
First@arts is FirstBank’s platform for supporting the arts. It provides financing, advisory services, and exposure for creatives across the value chain. The bank has backed major cultural events and partnered with institutions such as British Council, Duke of Shomolu Productions, Live Theatre Lagos, Freedom Park and Terra Kulture.
Among the projects FirstBank has supported are The Headies Awards, Lagos International Theatre Festival, The Oxymoron of Kenny Blaq, Kurunmi, Eni Ogun, and Oke Langbodo.
Iyanda also praised NLNG for its role in promoting excellence in literature and science through The Nigeria Prize for Literature, The Nigeria Prize for Science, and The Nigeria Prize for Literary Criticism.
“NLNG has shown leadership by rewarding creativity and innovation in ways that impact both the literary and scientific communities,” he said.
The prizes, worth up to USD100,000, are among the most prestigious on the continent. They celebrate Nigerian authors, critics, and scientists whose work makes a real difference.
Shell’s support for the summit reflects its ongoing commitment to education and social development. The company focuses on sustainable, community-driven educational projects, ranging from scholarships to infrastructure development and ICT donations.
“Shell’s belief in education as a foundation for long-term progress aligns with our vision for the summit,” Iyanda added.
He further noted that more sponsors will be unveiled in the coming weeks.
The QEDNG Creative Powerhouse Summit, themed “Financing as Catalyst for a Thriving Creative Economy,” will take place on Tuesday, August 12, 2025, at 10:00 a.m. The venue is the prestigious Radisson Blu Hotel, Isaac John Street, Ikeja GRA, Lagos.
The summit will bring together creatives, investors, policymakers, and business leaders to explore solutions to the funding challenges facing Nigeria’s creative industries.
Economic and Financial Crimes Commission (EFCC) has strongly denied allegations of lack of integrity and transparency directed at its chairman, Ola Olukoyede, by columnist Steve Osuji.
In a statement issued by Dele Oyewale, spokesperson, EFCC. the commission described the claims as “worrisome and unjustifiable,” particularly criticizing the personal attacks on Olukoyede.
“More worrisome was his attack on Olukoyede for no justifiable reason. Allegations of lack of transparency, accountability and integrity deficit are wild and clearly off the mark,” Oyewale said.
He questioned the basis for the allegations and defended Olukoyede’s leadership since taking office.
“The question is: in what way has Olukoyede fallen short? Is it by insisting that the right things should always be done? By moving the nation’s anti-graft war forward radically and unprecedentedly?
“By bringing forth a preventive framework to tackle corruption and reaping bountiful gains for the nation?
“By recovering the globally-acclaimed 753 duplexes and other apartments, which are proceeds of fraudulent dealings for the nation?
“By launching the EFCC into a global map of accomplished anti-graft agencies? By handling 50,000 case files in one year?
“By embarking on a courageous internal cleansing system and other progressive initiatives to deepen and strengthen the anti-corruption fight?
“It is cowardly and uncharitable for any columnist to hide under vague and opaque cover to splash mud on Ola Olukoyede, arguably one of the finest breed of anti-graft czars around the world.”
Olukoyede, through the statement, reaffirmed that the EFCC has consistently submitted its annual reports to the National Assembly as required by law.
“Equally preposterous are claims of re-looting of assets by officers of the Commission. For the purpose of clarification, the Commission does not recover monetary assets into its covers and the non-monetary assets that are recovered are disposed of following clear pronouncements by court and proceeds paid into the Confiscated and Forfeited Properties Account account in the Central Bank in line with provisions of the Proceeds of Crime (Recovery and Management) Act, 2022.
“The EFCC does not operate in secrecy. All its operations are regularly communicated to the public, including public auction of assets. To deliberately cast the Commission in the mould of fraudulent engagements or criminality is not only mischievous but also untenable,” the statement concluded.
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