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Economy

Enugu Government Vows To Reach, Surpass ₦600bn IGR Target For 2025

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Peter Mbah

Enugu Government Vows To Reach, Surpass ₦600bn IGR Target For 2025

Enugu government vows to reach, surpass ₦600bn IGR target for 2025. The governor noted that his administration’s development strategy ensured inclusive growth.

Mr Mbah gave the assurance on Saturday in Enugu during his investiture as president of the Enugu Sports Club.

Mr Mbah inaugurated the newly remodelled clubhouse, as well as the installation of new club patrons by the Chairman of Enugu Sports Club, Nnanna Atuonwu. Mr Mbah recalled that when his administration set a goal to grow Enugu’s economy from $4.4 billion to $30 billion, many doubted its feasibility.

“At the time, the trending analysis did not support such a growth level. Achieving this target requires a 27 per cent compounded annual growth rate, and some questioned how it could be realised,” he said.

He emphasised that in spite of the skepticism, his government recognised the need to shift focus away from federal allocations and instead mobilise domestic revenue.

“When we took over, the state’s IGR was about ₦25 billion. This year, our projected IGR is ₦600 billion, and based on the numbers we are seeing, we are not only going to meet this target but surpass it.

“This revenue growth is what enables us to make significant interventions across all sectors, from education to healthcare and beyond,” he stated.

The governor reiterated that his administration’s development strategy ensured inclusive growth, integrating all parts of the state into a unified economic plan.

As part of Enugu State’s preparations to host the 2026 National Sports Festival, Mr Mbah pledged to renovate the Nnamdi Azikiwe Stadium and Awgu Sports Village. “We are going to build a brand-new stadium, which will include facilities for aquatic sports.

“In addition, Awgu Sports Village will be revamped to ensure it is ready for the festival,” he said.

Commending Nnanna Atuonwu and his executive team for remodelling the clubhouse, Mr Mbah highlighted the importance of sports clubs in fostering recreation, social cohesion, and community well-being. He stated, “The true value of a great sports club lies in its ability to reinvent itself across generations and remain relevant in contemporary times.

Enugu Sports Club has done exceedingly well in this regard.” The governor pledged to asphalt its entrance road and address other pressing needs of the club.

Earlier, Mr Atuonwu noted that Enugu Sports Club had faced challenges in infrastructure and environmental vibrancy compared to its peers across the country.
He, however, commended Mr Mbah, whose support ensured the main clubhouse was successfully remodelled.

“Before the renovation, the main hall was in a state of disrepair, with a leaky roof, rotten wood, and corroded iron structures. When we turned to the governor for assistance, he did not hesitate. Beyond financial and logistical support, he laid a solid foundation for the club’s long-term financial independence and sustainability.

“This is why I am advocating for the establishment of a trust fund to ensure the club’s continued growth,” Mr Atuonwu said.

Enugu Government

Enugu Government

During the event, new patrons of the club were installed and included Edna Erinne, Kingsley Eze, David Ogbodo, and Festus Onu.
Mr Atuonwu, whose tenure as chairman had ended, also announced that Ifeanyi Nweke would soon take over as the new chairman.

The chairman of the occasion, Onyemuche Nnamani, praised Mr Atuonwu for the remarkable transformation of the clubhouse since its establishment in 1929.

Mr Nnamani, who also serves as Secretary of the Police Service Commission, also expressed gratitude to the governor for his contributions to the club’s development.

The club trustee, Nnia Nwobodo, suggested the creation of a cinema or film hall within the club to promote education, particularly for the children and families of members.

Economy

Airtel, MTN Sign Mobile Phone Network Infrastructure Sharing Deal In Nigeria, Uganda

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Airtel, MTN

Airtel, MTN Sign Mobile Phone Network Infrastructure Sharing Deal In Nigeria, Uganda

Airtel, MTN sign mobile phone network infrastructure sharing deal in Nigeria, Uganda. MTN Group and Airtel Africa have agreed to share mobile phone network infrastructure in Nigeria and Uganda. Statements by the duo on Wednesday said the agreement is aimed at saving investments while still increasing service coverage.

Mobile operators in Africa are seeing sustained demand for digital and financial services, but building and maintaining networks is expensive, especially for fast 5G connections. The companies also said they will explore various opportunities in other markets, including Congo-Brazzaville, Rwanda and Zambia.

Among the deals under consideration are radio access network sharing, the largest portion of the cost in network deployment and operation; commercial and technical agreements for fibre infrastructure sharing; and, if necessary, the construction of fibre networks, they added.

The companies said, “This engagement does not preclude the parties from collaborating with other operators in any respective market.”

Mobile Phone Network Infrastructure

Mobile Phone Network Infrastructure

Speaking on the agreement, MTN Group CEO Ralph Mupita in a statement said “As MTN, we are driven by the vision of delivering digital solutions that drive Africa’s progress. “We continue to see strong structural demand for digital and financial services across our markets.

To meet this demand, we continue to invest in coverage and capacity to ensure high-quality connectivity for our customers.

That said, there are opportunities within regulatory frameworks for sharing resources to drive higher efficiencies and improve returns.”

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Economy

DisCos Generate ₦509bn Despite Frequent Grid Collapses: NERC

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Transmission

DisCos Generate ₦509bn Despite Frequent Grid Collapses: NERC

DisCos generate ₦509bn despite frequent grid collapses: NERC. Electricity consumers paid ₦509.84 billion in Q4 2024, even as Nigeria experienced five grid collapses within the period, according to the Nigerian Electricity Regulatory Commission (NERC).

NERC reported three total and two partial grid collapses in Q4, contributing to the 12 outages recorded throughout 2024.

Despite this, revenue collection by electricity distribution companies (DisCos) rose from ₦466.69 billion in Q3 to ₦509.84 billion in Q4, with collection efficiency improving by 2.89 percentage points.

Eko and Ikeja DisCos had the highest collection efficiencies at 90% and 82.3%, respectively, while Jos Disco recorded the lowest at 49.68%.

DisCos Generate

DisCos Generate

NERC attributed the revenue boost to reduced energy offtake and improved metering, noting that over 4,000 Band A customers were metered under the Meter Acquisition Fund (MAF) scheme.

Meanwhile, two partial grid collapses have already occurred in Q1 2025, deepening power supply challenges for consumers.

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Economy

Federal Government Raises N1.1trn From Sukuk For Road, Bridge Projects

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Federal Government

Federal Government Raises N1.1trn From Sukuk For Road, Bridge Projects

Federal government raises N1.1trn from Sukuk for road, Bridge Projects. The Federal Government has raised N1.092 trillion from six Sukuk bond series since 2017, according to Debt Management Office (DMO) Director-General Patience Oniha.

Speaking in Lagos, she said the funds have been used to construct or rehabilitate 4,100 kilometers of roads and nine bridges nationwide.

Federal Government

Federal Government

Oniha highlighted the benefits of the projects, including reduced travel time, improved road safety, job creation, and better access to markets, education, and healthcare.

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