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.
FG Inaugurates PenCom Board, Tasks Members On Protection Of Pension Assets
The Federal Government has inaugurated the Board of the National Pension Commission, reinforcing its commitment to transparency, accountability, and the protection of over ₦28 trillion in pension assets.
Speaking at the ceremony, the SGF, Senator (Dr.) George Akume, charged members to uphold strong corporate governance while maintaining a clear boundary between oversight and management.
PenCom
The Board, led by Chairman Agbaje Opeyemi Olukayode, pledged to safeguard contributors’ funds and support national development, while the Director-General Omolola Oloworaran reaffirmed commitment to collaboration in delivering secure and timely retirement benefits for Nigerians.
SEC Sign MoU With NYSC To Fight Ponzi Schemes
SEC sign MoU with NYSC to fight Ponzi schemes. The initiative was designed to sensitise young Nigerians to the risks of fraudulent investment schemes and promote sound, legitimate investment practices.
The Securities and Exchange Commission and National Youth Service Corps have signed a memorandum of understanding to establish a community development service group focused on investment education for corps members.
The initiative was designed to sensitise young Nigerians to the risks of fraudulent investment schemes and promote sound, legitimate investment practices.
According to a statement by the SEC on Sunday, the MoU was recently signed by its director-general, Emomotimi Agama and NYSC director-general, Olakunle Nafiu.
It was also meant to promote financial literacy and sound investment habits among young Nigerians.
In addition, the collaboration will help equip corps members with essential knowledge and skills to identify and avoid Ponzi schemes and other illegal investment practices.
It will also help enhance public awareness campaigns against illegal financial schemes across all LGAs in the country, among other objectives.
“Based on the scope of the collaboration, SEC shall develop and provide relevant and up-to-date educational content, materials, and training modules on capital market operations, safe investment practices, and the identification and avoidance of Ponzi schemes.
“SEC will also be responsible for the content, resources and funding of training sessions for selected corps members and NYSC supervisors who will serve as trainers and facilitators in their respective communities.
SEC
“On its part, the NYSC shall facilitate the integration of anti-Ponzi scheme education into its Education and Enlightenment CDS programme. This may involve dedicated sessions, workshops, or awareness campaigns during orientation camps and throughout the service year,” said the statement.
The parties shall collaborate on joint awareness campaigns, utilising various channels and platforms, including social media, traditional media, and community outreach, to disseminate information on safe investment and expose fraudulent schemes.
Persistent Grid Collapse, Weak Power Supply Worsening Economic Hardship: Oyintiloye
Speaking with journalists on Sunday in Osogbo, Oyintiloye said the situation had continued to deteriorate despite assurances and reforms introduced by authorities.
He described unreliable electricity as a major setback to the federal government’s reforms in the power sector.
He appealed to President Bola Tinubu to urgently intervene, noting that poor power supply is worsening economic hardship across the country.
Oyintiloye said the poor supply has compounded the effects of the current heatwave, making living conditions more difficult for many Nigerians.
The former lawmaker called for the constitution of a panel to investigate recurring national grid collapses and persistent supply challenges despite significant investments.
“It is a terrible situation across Nigeria with persistent poor power supply,” he said.
“Many small-scale businesses and large industrial players are affected, while most homes cannot boast of even three hours of electricity supply daily for domestic use.
“Despite numerous reforms and promises, the national grid continues to collapse. The situation is now compounded by gas supply shortages, weak transmission infrastructure, and chronic underinvestment across the power value chain.
“Nigerians are groaning, and urgent action must be taken by the Minister of Power, Adebayo Adelabu, and his team. The situation cannot continue like this.”
Oyintiloye warned that the situation has already triggered protests in parts of the country and could escalate if not addressed promptly.
“The situation must be quickly addressed before it becomes a national embarrassment. Nigerians need to be informed whether the issue is due to structural failure or sabotage within the power sector,” he said.
Electricity
“This epileptic power supply has led to a series of peaceful protests nationwide. I appeal for the President’s intervention before these protests turn violent.
“Electricity is essential for households and the survival of businesses. Since the end of last year, there has been no stable power supply across the country, despite assurances by those in charge and huge investments in the sector.
“Poor power supply should not be added to the challenges Nigerians are currently facing. The high cost of fuel has also made it difficult for those relying on generators to cope.”
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