Economy
NLC Faults Power Minister’s “Adequate Electricity” For 150m Nigerians Claims Says“Is A Joke Too Far”
NLC Faults Power Minister’s “Adequate Electricity” For 150m Nigerians Claims Says“Is A Joke Too Far”
NLC faults Power Minister’s “adequate electricity” for 150m Nigerians claims says“is a joke too far”. The Nigeria Labour Congress (NLC) has described as “a joke too far” the Power Minister, Adebayo Adelabu’s claim that 150 million Nigerians now enjoy “adequate electricity” supply of 5,500 megawatts. A statement released by the union’s President, Joe Ajaero, on Wednesday, the union said the minister’s statement was “outrageous”.
The union leader noted that the “Wild assertion is not only pretentious, but also a bad joke on a people daily confronted by grinding darkness, outrageous electricity tariffs, and a power sector manipulated for private profit at the expense of national progress”
“Perhaps, the Minister wants to perform Jesus’ miracle of feeding 5,000 persons with 5 loaves of bread and 2 fish.” According to Ajaero, the minister’s claim was nothing but an attempt to insult the intelligence of Nigerians, given the power challenge the nation faces.
“To suggest that over 150 million Nigerians have access to reliable power in a country that struggles to generate a meagre and inconsistent 5,000 megawatts—far below the global benchmark of 1,000mw per one million people—is to insult the intelligence and lived realities of Nigerians.”
The NLC, which stated that Nigeria should be generating no less than 150,000mw to justify such a claim, noted that “even on its best day, the country’s electricity generation has never exceeded 5,500mw—and that figure remains unstable and unreliable” “We want to ask, is Nigeria’s standard different from the world standard? Where are the power plants that make this level of supply possible? Where is the upgraded transmission infrastructure to support such output? Why are our homes still shrouded in darkness and our factories shutting down daily?”
The NLC counselled the Power Minister on standards for measuring performance, adding that the Minister’s claim “could be likened to a joke taken too far. “The truth is that millions of Nigerians, from urban slums to rural communities, continue to live without access to electricity.
The few who have access do so under constant threat of disconnection, blackouts, and financial exploitation through a complex pyramid of inflated tariffs and arbitrary billing” The NLC traced the current electricity crisis in Nigeria to what it also described as a direct result of the grand betrayal that was the 2013 power sector’s privatisation.
Ajaero accused the Federal Government of handing over the nation’s critical infrastructure to cronies for just N400 billion, adding that “Over a decade later, there has been no improvement in service delivery. Yet, these same GenCos and DISCOS, which have failed the nation woefully, are to receive over N4 trillion in public subsidies with zero accountability. “It is disheartening that after over 12 years of privatisation, the power sector has not experienced any significant capacity expansion. No substantial infrastructure renewal despite trillions spent.
Unfortunately, and predictably too, there has been no sanction for incompetent DISCOS and GenCos as outlined in the privatisation agreement because the buyers seem to be the same as the sellers.
It claimed that rather than fix the rot in the power sector, the “government now plans to sell off the Transmission Company of Nigeria (TCN)—the last publicly owned component of the power value chain. This move is not reform; it is economic ruse dressed in bureaucratic doublespeak” “It is an attempt to swallow the remaining power asset by the ruling elite at the detriment of the suffering Nigerian masses.
Electricity
We are worried that the already hijacked entities in the name of privatisation have grossly underperformed, and you want to go the same route with the remaining one – the outcome, of course, will not be different.
The NLC, while also criticising the government over the recent electricity tariff hike, noted that the action masked under the so-called “Band A, B, and C” classification is nothing but a sophisticated scheme to legalise exploitation.
“While DISCOs have raked in over N700 billion from helpless consumers, power supply remains epileptic, erratic, and inaccessible to the majority. Millions of Nigerians are now forced to choose between food and electricity bills.
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.
Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.
EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.
Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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