Economy
Government Vows To End Estimated Billing In Lagos
Government Vows To End Estimated Billing In Lagos
Government vows to end estimated billing In Lagos. The Lagos state government has promised to bring an end to estimated electricity billing to relieve residents suffering inflated electricity charges.
The government also promised to tackle other challenges plaguing the state’s energy sector.
Gov. Babajide Sanwo-Olu made the promise at the Lagos Commodities and Futures Exchange meeting held at the Muson Centre, Onikan, Lagos, on Friday.
The meeting had the theme: “Building a Competitive Electricity Marketplace: Strategies to Attract Investments and Boost Confidence in the Lagos Electricity Market Using the Capital Market”.
The governor was represented by his deputy, Dr Obafemi Hamzat.
Mr Sanwo-Olu re-affirmed his administration’s commitment to ensuring that Lagos would become a model for electricity market transformation in Africa.
He emphasised the importance of creating a competitive, reliable and investor-friendly electricity market.
According to him, the essence is to make sure that everybody has power and reduces the amount of money spent on generators.
“By so doing, the environment is clean. It is a win-win situation for all,” he said.
The governor said that, to achieve the goal, the state government was implementing policies to encourage private sector participation.
He added that the state would improve regulatory oversight and build investor confidence in the Lagos electricity market.
Mr Sanwo-Olu added that the government was committed to creating an enabling environment which would encourage investments in power infrastructure and renewable energy solutions.
The governor said that, with the Lagos State Electricity Law in place, the government was taking decisive steps to decentralise power generation in order to achieve transformation in the sector.
He added that such would boost private sector participation and foster a more dynamic and efficient energy marketplace.
“We will introduce new meters to eliminate estimated billing and provide accurate electricity charges.
“We will leverage the capital market to finance large-scale energy projects through instruments such as energy bonds, power purchase agreements, and electricity derivatives,” he said.
Mr Sanwo-Olu urged financial institutions, investors, policymakers and other stakeholders to work collaboratively in leveraging the capital market for energy sector growth.
He said: “By implementing these strategies, our aim is to build a competitive, reliable and sustainable electricity marketplace that serves the needs of the people and businesses.”
Earlier, Biodun Ogunleye, the state commissioner for energy and mineral resources, unveiled plans to revolutionise the state’s energy sector.
Mr Ogunleye said that the Clean Lagos Electricity Market initiative was designed to eradicate blackouts across the state.
Mr Ogunleye outlined a multi-step approach, including establishment of robust market institutions, to achieve the goal.
The commissioner noted the need to deploy cutting-edge tools, enhance value chain delivery capacity and attract new investments.
According to him, a key component of the strategy is construction of five energy hubs aimed at significantly boosting power capacity.
Mr Ogunleye emphasised the importance of collaboration among the government, the private sector, individuals and other stakeholders to ensure equitable power distribution across geographical areas and demographics.
“The state government is committed to ensuring that power capacity goes up drastically in the state as the government is building a total of five energy hubs.
“We, therefore, call on the private sector, individuals and other stakeholders to support the government in its bid to create and ensure that power supply is well-distributed irrespective of geographical areas,” he said.
Lagos
Emomotimi Agama, director-general, Securities and Exchange Commission (SEC), said the collaboration among capital market operators, government agencies and development finance institutions was crucial for unlocking the full potential of market-based financing for the power sector.
He was represented by the organisation’s executive commissioner, operations, Bola Ajomale.
He urged regulators, policymakers, investors, market operators and other stakeholders to deepen collaboration and leverage the capital market as a catalyst for transforming Nigeria’s electricity sector.
Mr Agama gave the assurance that SEC would continue to implement policies which would foster a stable and efficient market, ensuring that investors and issuers would operate in a well-regulated and secure environment.
Jigawa Government, Azman University Partner To Enhance Education Development
Jigawa government, Azman University partner to enhance education development. Ms Muhktar said, “I assure you that the Jigawa State government will continue to be a valued partner.’’
The Jigawa State government said it will partner with the Azman University to enhance educational opportunities and promote human capital development.
Governor Umar Namadi stated this during a courtesy visit by the Vice-Chancellor, Fatima-Batool Mukhtar, on Thursday in Dutse.
She said the state government would explore areas of collaboration to support innovative learning and sponsor students in specialised programmes to enhance skill development.
The governor said the partnership also focused on computing, data science, aviation management and artificial intelligence (AI).
“I assure you that the Jigawa State government will continue to be a valued partner,” she said.
Mr Namadi highlighted the relevance of the specialised programmes being offered by the university and reaffirmed his commitment to explore opportunities for indigent students.
He said that the introduction of innovative online courses was designed to attract students and scholars to the university.
Earlier, Ms Mukhtar said the institution was committed to quality education, innovation and excellence.
She said the university introduced online learning services, a compulsory e-learning week and the Students’ Consultative Forum, to encourage students engagement in decision-making.
“We have online services that allow students to attend lectures from home, while lecturers can also teach from their homes.
For the students and staff to be familiar with this, we have set aside one week every semester for compulsory e-learning week,” she said.
She also called for more collaboration in computer programming with notable industry players such as Cisco, Huawei and Oracle Academy.
Jigawa
“Your Excellency, Azman University is already gaining strength in computing programmes, and already we have registration with Cisco, Huawei and Oracle Academy. We are certified instructors for Huawei.
“So, we would like to appeal to your excellency to partner with us in your community development projects and skills development for youth for certified courses in computing programmes,” Ms Muktar said.
The VC commended the state government over the 32 per cent budgetary allocation to the education sector and the N3 billion grant to the scholarship board in the 2025 fiscal year.
House Of Reps Approve Tax Reform Bills
House Of Reps approve tax reform bills. Mr Faleke said, “These bills underwent three full days of public hearings, with input from over 80 key stakeholders.’’
The Chairman of the House of Representatives Committee on Finance, James Faleke (APC-Lagos), has assured Nigerians that the tax reform bills will produce widely acceptable laws.
Mr Faleke gave this assurance on Thursday after the House considered and adopted the report on the four tax reform bills during its session in Abuja.
The bills include the Nigerian Tax Bill, the Tax Administration Bill, the Revenue Tax Board Bill, and the Nigerian Revenue Service Establishment Bill.
He said, “These bills underwent three full days of public hearings, with input from over 80 key stakeholders. Afterward, we held an eight-day retreat to debate each clause. I am glad that House members recognised our thorough work and approved all our recommendations.’’
He expressed appreciation to fellow lawmakers and Nigerians who engaged with the bills, assuring that the resulting laws will be acceptable to all.
Mr Faleke also thanked the House leadership for entrusting his committee with processing the tax bills and presenting them for consideration.
He commended President Bola Tinubu for prioritising tax law reforms, noting that some existing tax laws date as far back as 1959.
“We cannot continue using outdated tax laws that no longer meet our business, survival, and revenue needs,” he stressed.
Deputy Committee Chairman, Saidu Abdullahi (APC-Niger), said no bill in the 10th Assembly had generated as much debate as the tax reform bills.
He praised Speaker Tajudeen Abbas for fostering consensus among stakeholders, ensuring broad-based input into the legislative process.
Mr Abdullahi highlighted that representatives from geopolitical zones and regional thought leaders were involved, easing public concerns.
He stated, “The committee’s recommendations reflect the contributions of various stakeholders. These were never seen as perfect documents. The executive made proposals, and the public hearing allowed Nigerians to refine them. Lawmakers have now endorsed the final version.’’
Also, Ikeagwuonu Ugochinyere (PDP-Imo) described the process as transparent, with consultants and the executive making adjustments to reflect public interest.
Tax
Mr Ugochinyere said, “In spite of being in the opposition, we are proud of this historic moment. It will expand the tax net and increase government revenue. This reform will enhance tax collection efficiency while protecting small businesses. That is why we worked together to ensure its passage.’’
On his part, Benson Babajimi (APC-Lagos) said stakeholder concerns, including inheritance tax, derivation, and VAT, were carefully considered.
He said, “This is a great day for Nigeria. The necessary reforms have been approved by the House, and we now await Senate concurrence.’’
Tinubu Welcomes Brazilian Delegation For Bilateral Talks
Tinubu welcomes Brazilian delegation for Bilateral talks. A Brazilian delegation led by Minister of Foreign Affairs Mauro Viera visited Abuja to strengthen cooperation between Nigeria and Brazil.
The visit included delivering an official invitation from Brazilian President Luiz Inácio Lula da Silva for President Bola Tinubu to visit Brazil soon.
Discussions focused on trade, investment, and cultural collaboration, with both nations signing agreements to enhance bilateral relations.
Viera praised Tinubu’s participation in the G-20 summit in Brazil last November and emphasized the need for deeper ties in culture, economics, and education.
Tinubu
Nigeria’s Minister of Foreign Affairs, Ambassador Tuggar, highlighted Brazil’s historic support, recalling its participation in Nigeria’s independence celebrations, underscoring the long-standing relationship between both countries.
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