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.
Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki
Okpebholo threatening me with violence, I’ll fight back says Obaseki. Godwin Obaseki, the immediate past governor of Edo, has accused Monday Okpebholo, his successor, of threatening him with violence. Obaseki spoke during the weekend at an event in London, the United Kingdom.
BACKGROUND
Since assuming office in November 2024, Okpebholo has initiated a series of actions aimed at scrutinising Obaseki’s tenure.
He first constituted a 14-member committee to investigate the assets, liabilities, contracts, and financial decisions made under Obaseki.
Okpebholo then expanded the scrutiny to the state civil service, ordering a probe into all recruitments conducted between May and November 2024, alleging a violation of due process.
Last week, Okpebholo asked the federal government to repatriate Obaseki to answer questions over public funds linked to the controversial Museum of West African Art (MOWAA) project.
‘OKPEBHOLO THREATENING ME’
Obaseki said the governor is threatening him with violence and allegedly sent thugs to attack him in the UK.
“Those who live by the sword will die by the sword,” Obaseki said. “And to tell the governor, Okpebholo, I don’t know him; I have never met him. When you start with violence, you will reap violence.
“For one year since I left office, I didn’t say one word. I decided to respect myself and allow them to try [in governance] as well. Go and find out, you won’t see one thing I said about his government.”
He accused Okpebholo’s government of being behind the attack on diplomats during the exhibition in MOWAA.
“As if that was not enough, the government paid people to come to Manchester to attack me,” he said.
“Who has started this violence? Is it me? Last week, this governor held a disgraceful press conference in which he threatened me not to come to Benin.
Obaseki
“They have been threatening violence. So if I respond, nobody should hold me responsible. “I can’t leave myself empty to be hurt and attacked by deranged people.
“So I am going to fight back. I will fight back. I didn’t start the fight. They are afraid. They know they did not win the election.”
Jigawa: 9,600 Teachers Register For Special Training
Jigawa: 9,600 teachers register for special training. No fewer than 9,600 teachers under the Jigawa State Universal Basic Education Board (SUBEB) registered for a competency test to determine the specific training required to improve their skills and enhance teaching outcomes in the state.
The Executive Chairman of the Board, Professor Haruna Musa, revealed this while briefing journalists on the purpose of the examination, adding that 12,000 teachers were expected to register for the exam.
He explained that the state government, under the leadership of Governor Malam Umar Namadi, was committed to repositioning the state education sector as a key foundation for sustainable development, in line with its “12-Point Agenda.”
Prof. Haruna noted that while the government has been spending significant resources to improve educational infrastructure, meaningful learning improvements cannot be achieved without also enhancing the capabilities of teachers.
“Based on that, the State Executive Council approved for the board to organise a competency test for all teachers. This will enable us to understand the kind of training each teacher requires to improve his or her skills”.
“Out of the 9,600 teachers registered for the exam, over 70% have never attended any capacity-building training since they were employed, including some with over 15 years of service,” the Chairman added.
Teachers Register For Special Training
He stated that after the exam, the teachers will be categorised into three groups: Group A, those with both knowledge and teaching skills; Group B, those with knowledge but lacking teaching skills; and Group C, those lacking both knowledge and teaching skills.
“Each group will be offered specialised training. Those in Group C will undergo intensive training and subsequent examinations for a period to ensure they are equipped with the required knowledge and skills”.
“For those with slower learning uptake, we will attach them to competent teachers within their schools for ongoing guidance and mentorship,” Prof Haruna said.
He further stated that the project is not about retrenchment, but his primary goal is to enhance teachers’ capacity for better learning outcomes within the state’s basic education sector.
PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery
PFA: Leadway pensure leverages innovations for quality service delivery. A Pension Fund Administrator (PFA), Leadway Pensure said, it is leveraging innovation to escalate quality
service delivery to its retirement savings account (RSA) holders. This milestone marks 20 years of trust, exceptional service delivery, and value creation as it celebrates its anniversary. It highlights two decades of dedication to protecting the financial wellness of Nigerian workers.
Over the last 20 years, the PFA has served thousands of customers across Nigeria and beyond, standing as a clear testament to its commitment to providing financial stability at various stages of workers’ career journeys.
Speaking on this remarkable achievement, MD/CEO, Leadway Pensure PFA, Olusakin Labeodan, stated that: “As we celebrate 20 years of Leadway Pensure PFA, this milestone is more than a celebration of longevity, it is a tribute to trust, service and innovation.
From the very beginning, our mission has been very clear, to deliver a pension system without barriersOver two decades, we have transformed this vision into reality by simplifying pension access, embracing cutting-edge technology, and ensuring our services are always within reach. With a nationwide presence, a robust mobile platform, and the AI-powered assistant LISA, we have made pension services accessible to eligible Nigerians.
“We have supported countless customers in achieving life goals, from retirement to home ownership, by ensuring access, clarity and care at every step. This is a testament to the strong relationships and legacy we have built with every customer. Trust is at the heart of our service, propelling us to uphold world-class standards and earning us global certifications such as ISO/IEC 27001:2022 for information security, a mark of our unwavering commitment to safeguarding our customers’ funds. ”
Leadway Pensure
Looking ahead, the company said, it is committed to promoting youth-focused financial literacy, growing personal pension plans and strengthening customer engagement across every stage of the pension journey.
“The next years and beyond will be shaped by the same dedication that brought us this far, a future-forward mindset, a culture of excellence, and an unyielding promise to stand by our customers every step of the way,” Olusakin concluded.
As it commemorates 20 years of service, Leadway Pensure reaffirms its commitment to simplifying retirement planning, delivering consistent value, and driving financial inclusion across Nigeria.
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