Economy
Power Sector Generated N700bn Revenue Increase In 2024: Adebayo Adelabu
Power Sector Generated N700bn Revenue Increase In 2024: Adebayo Adelabu
Power sector generated N700bn revenue increase in 2024: Adebayo Adelabu. Mr Adelabu said, “The target of M300 is to extend energy access to an additional 300 million Africans by 2030 out of the 600 million currently lacking access.’
Minister of Power, Adebayo Adelabu, on Thursday said the sector generated additional N700 billion revenue in 2024, reflecting a 70 per cent increase from what was collected in 2023.
Mr Adelabu said this during the 6th Edition of the 2025 Ministerial Press Briefing Series in Abuja on Thursday.
The minister said, “It is evident that, due to our transformative tariff reforms, the electricity market generated additional N700 billion revenue in 2024 reflecting a 70 per cent increase from what was collected in 2023.
This resulted from the cost-reflective tariff adjustment for Band A customers. This growth in market revenue is unprecedented, as the highest growth previously achieved was 20 per cent.
This positively impacts the reduction of the government-subsidised tariff shortfall by 35 per cent, decreasing it from N3 trillion to N1.9 million.’’
According to him, the growth in revenue demonstrates that financial viability and service delivery can coexist harmoniously.
Mr Adelabu also said that the commitment of President Bola Tinubu’s administration to energy access was further demonstrated when it signed the Nigerian Energy Compact in Tanzania in January.
According to him, the initiative, led by the World Bank and the African Development Bank aligns with the administration’s aspiration to expand energy generation.
He said, “The target of M300 is to extend energy access to an additional 300 million Africans by 2030 out of the 600 million currently lacking access. This initiative will be realised based on a five-pillar strategy: expanding generation, strengthening utilities, incentivising private investment, accelerating renewables, and boosting regional integration.
The compact sets ambitious goals to enhance electricity access, increase renewable energy adoption, and improve clean cooking solutions for millions of Nigerians.’’
Mr Adelabu further said that in fulfillment of the statutory mandate of the Electricity Act 2023, the federal government, through the Federal Ministry of Power, developed the National Integrated Electricity Policy (NIEP).

Power Sector Generated N700bn Revenue
He said that the transformative framework in NIEP would set a clear roadmap for delivering a resilient, cost-effective, and sustainable power sector.
According to him, the NIEP, which was presented to the president, had been submitted for approval by the Federal Executive Council of Nigeria.
“This policy guides all power sector actors, including investors, operators, regulators, and the supervising ministry, to transform the country’s power sector through a data-driven and evidence-based approach,’’ he said.
Economy
Okpebholo Threatening Me With Violence, I’ll Fight Back Says Obaseki
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.”
Economy
Jigawa: 9,600 Teachers Register For Special Training
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.
Economy
PFA: Leadway Pensure Leverages Innovations For Quality Service Delivery
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.
-
Crime7 months agoKogi Assembly Considers Law To Regulate Rent, Establish Control Board: Tenancy Law
-
Akwa Ibom10 months agoThe Apostolic Church Gets New Territorial Chairman, Exco
-
Akwa Ibom10 months agoUmo Eno Commences Payment Of 80,000 Naira Minimum Wage With Arrears
-
News10 months agoThe Apostolic Church Gets New National President, Executive
-
News8 months agoAtiku Reveals Why He Failed To Pick Wike As Running Mate In 2023
-
News9 months agoSenator Natasha Returns To Senate With Husband Amid Seat Dispute
-
Economy7 months agoKiyosaki: Is Tinubu’s Government Afraid Of Ibrahim Traore?
-
Politics10 months agoPresident Trump Changes Divorce Law, No 50% Property Shares
