Economy
Community Laments 5 Month Power Outage In Lagos
Community Laments 5 Month Power Outage In Lagos
Lagos community laments 5 month power outage in Lagos. Efforts to get the reaction of Head of Corporate Communications, IKEDC, Kingsley Okotie, were unsuccessful.
Residents of Love Estate in Ikorodu-Elepe, Lagos State, on Sunday lamented five months power outage in the community that has grounded businesses.
They appealed to the Ikeja Electricity Distribution Company (IKEDC) to restore power to the community after the only electricity transformer was taken away for repairs in January.
The residents said the prolonged absence of electricity made them vulnerable to attacks from marauders who operate under the cover of darkness, saying it has also grounded their businesses and other activities that rely on electricity.
Some of residents who spoke during an interview said that despite the donation of a N15 million transformer to IKEDC by the community, pending the return of the faulty one, the company failed to energise it.
A resident, Emmanuel Ayanda, said immediately the estate’s transformer developed a fault and IKEDC was not forthcoming, the community contributed N15 million to purchase a 500 KVA new transformer which was “donated” to IKEDC.
Mr Ayanda explained despite the donation of the transformer with the necessary official steps taken, the electricity distribution company refused to energise it and failed to return the faulty one.
He said that residents have been “spending a lot on buying fuel” to power their generators in the last five months, while economic activities have been paralysed.
Another resident and businesswoman. Ranti Olaniyi, expressed disappointment over the continued failure of IKEDC to restore electricity in the community for the past five months.
Mrs Olaniyi expressed concern and distress over the harm caused to her business by the prolonged blackout.
“We have been left in total darkness, and our daily lives have been severely disrupted. As a business owner, this prolonged blackout is having a devastating impact on my business operations and income. My turnover has dropped drastically, and I am unable to meet customers’ demands or run essential equipment. We seek urgent intervention and public attention to this matter. We deserve basic infrastructure and reliable electricity to live and work with dignity”, she said.
Another resident, Ayo Ikuomola, another resident, said that it had been a tough time for the community in the last five months without electricity.
Mr Ikuomola said that when the transformer serving the estate was faulty in December 2024, officers of Ikeja electric were contacted and they came to pick it for repair.
According to him, when IKEDC was not forthcoming on the repair, residents of the community contributed N15 million to purchase a new transformer which was donated to the company.
He said, “Despite the fact that the donation was received by IKEDC and necessary approvals were given, neither the old transformer that was taken for repair returned nor the new one energised. Since the power outage, and for my business to survive, I have spent over N1 million to buy fuel to power my generator. This is frustrating. Every morning, women and children roaming around the streets looking for where to fetch water and to charge their phones. We appeal to the concern authorities to come to our rescue. This suffering is too much.’’
Meanwhile, residents of the community at an emergency meeting on Saturday vowed to stage a peaceful protest at the IKEDC headquarters in Ikeja on Monday.
The Chairman of the Community Development Association, Segun Oni, while addressing the residents, appealed to Nigerian Electricity Regulatory Commission (NERC) to come to the community’s aid.
Mr Oni explained the community’s faulty transformer that was taken away on January 3, 2025, by IKEDC for repair had not been returned, while the new 500KVA donated by the community had not been energised.
Community Laments 5 Month Power Outage
“We have been in darkness for more than five months now and we cannot continue like this. We have written several letters to NERC, other government parastatals and even donated a new transformer to IKEDC without any hope in sight. We appeal to Governor Babajide Sanwo-Olu and other concerned authorities to please come to our aid. We are staging a peaceful and organised protest to IKEDC office on Monday. We have done our part by donating a transformer to IKEDC but to no avail. Enough is Enough,” he said.
Contacted, Head of Technical Unit, IKEDC Business Unit, Alogba, Ikorodu, Samuel Odukoya, declined to comment on the matter
Mr Odukoya, however, advised that enquiries should be directed to the corporate affairs unit of the company in Ikeja.
Efforts to get the reaction of Head of Corporate Communications, IKEDC, Kingsley Okotie, were unsuccessful.
Eid-el-Fitr: NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
Eid-el-Fitr: NRC sets to run three Lagos–Ibadan train trips Monday. He assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
This was contained in a statement issued on Friday in Lagos by NRC chief public relations officer, Callistus Unyimadu.
He said the additional trip was in response to high passenger turnout during the Eid-el-Fitr travel period.
“The extra trip is aimed at easing passenger movement and providing more travel options for commuters returning after the Eid-el-Fitr celebrations.
“Under the schedule, departures from Lagos (Mobolaji Johnson Station, Ebute Metta) will be at 7.45 a.m., 1.40 p.m., and 4.00 p.m.
“From Ibadan (Obafemi Awolowo Station, Moniya), trains will depart at 8.00 a.m., 10.50 a.m., and 4.30 p.m.,” he said.
Mr Unyimadu assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
He advised travellers to arrive early, comply with ticketing and security procedures, and plan their journeys.
“The corporation appreciates the continued patronage of its services and wishes all passengers a safe and pleasant journey,” he added.
UBA, BII Sign Letter Of Intent To Explore Trade Finance Collaboration Across Africa
United Bank for Africa (UK) Limited (“UBA UK”) and British International Investment plc (“BII”), the UK’s development finance institution and impact investor, announced that they have signed a letter of intent to develop trade finance collaboration opportunities.
The proposed initiative aims to expand access to trade and working capital facilities for businesses operating across Africa.
Access to trade finance remains one of the most significant structural constraints on African trade. Businesses, particularly small and medium-sized enterprises, are frequently unable to secure letters of credit, guarantees, and supply chain finance on commercially viable terms, limiting their capacity to export and import competitively. This trade finance gap is estimated by the African Development Bank to be over USD 80 billion annually.
To help close this gap, UBA UK, the London subsidiary of UBA Group, Africa’s Global Bank, will leverage its deep relationships across the Group’s 20-country African network to originate and structure trade finance transactions. While BII, with a mandate to support productive, sustainable, and inclusive growth across Africa, can support transactions that might otherwise fall outside conventional commercial appetite.
“The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions. As the Group’s hub for Trade Operations, UBA UK is uniquely positioned to connect African businesses with the international financial system. Working alongside BII, we can extend that capability further — mobilising capital where it matters most and helping to close the trade finance gap that holds back so much African potential,” said Lok Mishra, Chief Executive Officer, UBA UK
“British International Investment is committed to catalysing private sector growth across Africa, and trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group, whose pan-African network and deep institutional relationships can help advance our ambition to expand access to trade and working capital finance, particularly in frontier markets,” Chris Chijiuitomi, Managing Director and Head of Africa
The announcement builds on growing momentum around intra-African trade facilitated by the African Continental Free Trade Area (AfCFTA), which entered into force in 2021 and represents one of the world’s most significant trade integration initiatives. Both institutions have identified the operationalisation of AfCFTA as a priority catalyst for a trade finance facility, with UBA UK’s network across major AfCFTA economies offering a basis for supporting businesses navigating the emerging continental market.
This also complements the UK Government’s broader engagement with African economic development, including commitments made at the UK-Africa Investment Summit, and reinforces the City of London’s role as a leading international finance centre for Africa-focused capital mobilisation.
Future cooperation remains subject to further assessment, due diligence and the completion of internal approvals by both parties.
ABOUT UNITED BANK FOR AFRICA (UK) LIMITED
UBA UK is the London-based subsidiary of United Bank for Africa Plc, one of Africa’s leading financial institutions with operations across 20 African countries, the United Kingdom, the United States of America, France, and the United Arab Emirates. UBA UK serves as the Group’s hub for Trade Operations, providing a comprehensive suite of trade finance, treasury, and correspondent banking services to institutional and corporate clients worldwide.
UBA
ABOUT UNITED BANK FOR AFRICA GROUP
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
ABOUT BRITISH INTERNATIONAL INVESTMENT
British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.
Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.
The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.
Eid-el-Fitr: President Tinubu Felicitates Muslims, Urges Renewed Unity, Patriotism
Eid-el-Fitr: President Tinubu felicitates Muslims, urges renewed unity, patriotism. Mr Tinubu called on Muslims to reflect on the spiritual lessons of Ramadan.
The president urged them to renew commitment to national unity, peaceful coexistence, and service to humanity as they celebrate the festival across the country on Friday.
This is contained in a statement issued by presidential spokesperson, Bayo Onanuga, on Thursday in Abuja.
Mr Tinubu called on Muslims to reflect on the spiritual lessons of Ramadan, noting that the holy month teaches discipline, sacrifice, compassion, and devotion to God and humanity.
He said: “We have a lot to draw from the noble lessons of Ramadan, especially at a time like this.
“We must continue to abide by the virtues of piety, selflessness, perseverance, kindness and compassion beyond this period.”
The president emphasised the need for Nigerians to remain united across religious and ethnic lines, stressing that national cohesion remains vital for sustainable peace and development.
He urged Muslims to extend acts of kindness and charity to the less privileged, irrespective of religious or ethnic background, in line with the enduring values of Islam.
Mr Tinubu noted that such gestures would strengthen social bonds, promote inclusiveness, and reinforce the spirit of brotherhood that defines the Nigerian society.
The president also called on religious leaders to use the occasion to offer prayers for peace, stability, and economic prosperity across the country.
Tinubu
He expressed optimism that with collective efforts, Nigeria would overcome its challenges and achieve lasting progress for the benefit of all citizens.
Mr Tinubu wished Muslims a joyous celebration, praying that the blessings of Ramadan would bring renewed hope, strength, and guidance to individuals, families, and the nation.
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