Category: Business

  • PNC Forum to boost investment partnerships in energy

    PNC Forum to boost investment partnerships in energy

    The 14th edition of the Practical Nigerian Content (PNC) Forum, themed “Securing Investments is expected to support in strengthening Local Content, and Scaling Energy Production”.

    The event will take place from 1 to 4 December 2025 in Yenagoa, Bayelsa State. The Forum will convene regional policymakers, global investors, regulators, and indigenous operators to explore, as a follow-up to the Nigeria First Policy above, strategies to replicate local content implementation and capacity development across sectors.

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    With key discussions centred on securing investment, strengthening local content, and scaling energy production, delegates will explore how to unlock and mobilise financing for indigenous businesses, expand supplier development, and accelerate technology transfer. The Forum will also address strategies for scaling up Nigeria’s energy output, alongside meaningful policy dialogue centred on regulatory alignment, compliance, and the enforcement mechanisms required to sustain growth.

  • Effi & Associés joins ALPi

    Effi & Associés joins ALPi

    Effi & Associés, a leading business law firm based in Abidjan, has officially become the tenth member firm of Africa Law Practice International (ALPi), the fast-growing Pan-African legal and professional services network.

    The on-boarding ceremony took place at the offices of Effi & Associés in Abidjan and marks a major milestone in ALPi’s strategic expansion into Africa, generally, and Francophone West Africa, in particular. With this addition, ALPi now operates in Nigeria, Ghana, Kenya, Tanzania, Uganda, Rwanda, South Sudan, Namibia, Mauritius and Côte d’Ivoire, making it one of Africa’s most geographically diverse and AfCFTA-focused law networks.

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    Welcoming the firm into the ALPi network, Mr. Olasupo Shasore (SAN), Senior Partner of ALPi.

    Nigeria, said: “Getting one of the most highly regarded lawyers in Francophone Africa, Serge Effi, and his firm, Effi & Associès to join the ALPi Practice Group is fantastic news for us and for our clients, including those across the ten African Union member states where we now operate.

  • ACCI, Afrexim bank partner China for agric innovation

    ACCI, Afrexim bank partner China for agric innovation

    President, Abuja Chamber of Commerce and Industry (ACCI), Emeka Obegolu has said that the chamber in partnership with Afreximbank and Autodex Nigerian Limited have moved to reinforce the chambers collective vision by strengthening  collaboration and knowledge exchange between Nigeria and China, as well as other strategic global partners, in advancing agricultural innovation and sustainability.

    Read Also: Oyedele unveils 50 tax reliefs, benefits for Nigerians

    Obegolu, who was represented by the Director General of ACCI, Agabaidu Jideani said this during the 2nd edition of the farm, food and allied technology FARMFATECH expo 2025 in Abuja.

    He said  this year’s Expo builds upon the success of its inaugural edition, Scheduled to take place at the Velodrome, National Stadium in Abuja, adding that the three-day event will bring together over 500 exhibitors, 76 participating countries, and an estimated 500,000 visitors.

  • ‘15% petrol, diesel imports duty could trigger another inflation’

    ‘15% petrol, diesel imports duty could trigger another inflation’

    Former Nigerian Bar Association (NBA) President, Olisa Agbakoba (SAN) has raised concern over the 15 per cent tarriff on petrol and diesel imports, warning that the development could trigger another wave of inflation and economic strain for Nigerians.

    In a statement posted on his X (formerly Twitter) handle, Agbakoba questioned the sharp rise in import volumes at a time when the country was tightening controls on legitimate imports.

    He cautioned that higher fuel import costs would inevitably raise the prices of essential goods and services, worsening the hardship faced by households.

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    He alleged that while Nigeria was clamping down on legitimate importers, illegal inflows of refined products are thriving through neighbouring Togo, which he described as “a major illegal entry point for cheap diesel flooding into Nigeria.”

    He said this smuggling activity was undermining the nation’s refining sector, including the operations of local producers such as the Dangote Petroleum & Petrochemicals plant.

    Agbakoba noted that the situation was distorting Nigeria’s energy market and discouraging local investment, adding that “illegal imports are killing us softly, eroding jobs, revenue, and confidence in our system.”

  • Zainab Oladepo is helping Nigeria think smarter with data

    Zainab Oladepo is helping Nigeria think smarter with data

    In today’s fast-changing world, organizations are drowning in data but still starving for clarity. And nowhere is this more apparent than in countries like Nigeria, where the push for digital transformation often collides with fragmented systems, inconsistent records, and decisions made more from instinct than insight. That moment where uncertainty meets opportunity is where data analysts like Zainab Oladepo thrive. It’s a calling. Her work is helping businesses, institutions, and national systems rethink how they use information to drive growth, reduce risk, and make smarter choices.

    With a background in Computer Science and a Master’s in Data Science from the University of Sunderland, the Nigerian-born data analyst brings both academic rigor and practical experience to the table. She has carved out a unique space at the intersection of analytics, business intelligence, and system architecture, bridging gaps not only between teams but also between data and action. From banking to enterprise consulting, her impact has been consistently measurable and transformative.

    In her role within a leading financial institution, she went far beyond the typical scope of reporting. Instead of just presenting historical data, she helped usher in a new era of predictive analytics by supporting the deployment of machine learning models that forecast customer behavior and revenue performance. But Zainab didn’t stop at technical implementation. She ensured those insights reached the right teams, translated into clear actions, and fed into the bank’s broader strategic goals. She became the bridge between code and commerce, between what the data said and what the business could do with it.

    Her leadership grew even more evident when she joined a resource-focused organization as Lead Data Analyst. There, she redefined how the company understood itself. She gave executives a real-time view of profitability and embedded predictive foresight into the company’s DNA. Within one quarter of deploying her models, the business saw a 10% increase in sales. More importantly, leaders began making decisions based on evidence, not assumptions. Forecasts sharpened. Losses dropped. Confidence grew. She didn’t just build tools. She built trust in the tools.

    Her projects have led to fewer data errors, faster reporting cycles, and more confident pricing strategies. But they’ve also made teams more aligned, leaders more informed, and systems more resilient. Her improvements in data governance, architecture, and automation haven’t just made work easier. They’ve made it smarter. In a country where digital infrastructure is still catching up, she’s shown how thoughtful analytics can create stability, efficiency, and growth in real and immediate ways.

    She has also brought attention to the security side of data, an often-overlooked issue in emerging economies. Her Master’s thesis on detecting SQL injection attacks using machine learning demonstrates her understanding that data must first be protected before it can be trusted. In a time where cyberattacks threaten everything from banks to government records, this work is foundational. By addressing data security and integrity head-on, she is helping build the kind of trust that long-term digital systems require.

    More than her technical skillset, it’s her mindset that makes Zainab stand out. She sees herself not as a support function but as a driver of transformation. Whether it’s developing a data pipeline, cleaning legacy records, training junior analysts, or building visual tools for decision-makers, she approaches every task with the same clarity of purpose. She creates order from complexity and turns information into power. Her ability to mentor, lead cross-functional projects, and influence executive-level thinking speaks to her maturity as both a strategist and a systems thinker.

    Zainab Oladepo is not simply participating in Nigeria’s digital journey. She is shaping it. Her work shows that data analysis is not a backend function but a frontline force for innovation. By embedding analytics into core business strategy, by teaching teams how to ask the right questions, and by defending the very infrastructure that stores our most critical information, she is helping to write a new chapter for what leadership in data looks like on the African continent.

    At a time when governments, banks, and industries are searching for smarter ways to grow, Zainab offers more than solutions. She offers a model. Her career reminds us that data, when handled with insight and integrity, can do more than inform. It can transform. And that transformation, in her hands, is already underway.

  • Oyedele unveils 50 tax reliefs, benefits for Nigerians

    Oyedele unveils 50 tax reliefs, benefits for Nigerians

    Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has unveiled 50 tax exemptions and reliefs designed to ease the financial burden on low-income earners, average taxpayers, and small businesses under Nigeria’s new tax reform laws, which will take effect from January 1, 2026.

    Oyedele on WhatsApp platform released a comprehensive package, which he said represents one of the most people-focused tax reforms in Nigeria’s recent history, targeting fairness, simplicity, and inclusiveness in the country’s fiscal system.

    He said the reform framework is part of the government’s commitment to “ensure that the masses and small businesses can thrive under a more just and growth-friendly tax environment.”

    Under the new laws, individuals earning the national minimum wage or less will be exempt from Personal Income Tax (PIT) while those earning up to N1.2 million annually will also enjoy full exemption. 

    In addition, workers with an annual gross income up to N20 million will benefit from a reduced Pay As You Earn (PAYE) rate.

    All gifts received by individuals are now tax-free, while several deductions will be allowable for personal tax computation. 

    These include contributions to pension funds, the National Health Insurance Scheme, and the National Housing Fund, as well as interest on loans for owner-occupied homes and life insurance or annuity premiums.

    Read Also: Oyedele: 98% of workers to be exempted from PAYE

    Renters will also receive a rent relief amounting to 20 percent of their annual rent, up to a ceiling of N500,000.

    To protect retirees, all pension funds and assets under the Pension Reform Act remain tax-exempt. Likewise, pension and gratuity payments, as well as retirement benefits, are tax-free. Compensation for loss of employment up to N50 million will also be exempt.

    The new law exempts the sale of an owner-occupied house and personal effects worth up to N5 million from Capital Gains Tax (CGT). Similarly, individuals can sell up to two private vehicles per year without tax liability.

    Gains from shares below N150 million per year or up to N10 million will be exempt, while higher gains will also qualify for exemption if the proceeds are reinvested. Pension funds, charities, and non-commercial religious institutions will not be subject to CGT.

    For businesses, the reform grants small companies — those with annual turnover not exceeding N100 million and total fixed assets below N250 million — a zero percent Companies Income Tax (CIT) rate. Eligible startups under Nigeria’s labeled startup framework will also enjoy tax exemption.

    To encourage better worker welfare, companies offering salary increases, wage awards, or transport subsidies for low-income employees will receive a 50 percent additional deduction. Similarly, businesses hiring and retaining new staff for at least three years will get a 50 percent employment relief deduction.

    Agricultural enterprises in crop production, livestock, and dairy farming will receive a five-year tax holiday, while investors in labeled startups — such as venture capitalists, accelerators, and private equity funds — will enjoy exemptions on qualifying investment gains.

    Value Added Tax (VAT) exemptions and zero-rated items are among the most extensive in the new law. 

    Basic food items, educational services and materials, health and medical services, and pharmaceutical products will attract zero percent VAT. Rent, transport services, and humanitarian supplies are fully exempt.

    Small companies with turnover not exceeding N100 million will not be required to charge VAT, while VAT on diesel, petrol, solar equipment, and agricultural inputs such as fertilizers, seeds, and feeds has been suspended or exempted.

    Other exempt categories include baby products, sanitary towels, disability aids such as hearing aids and wheelchairs, and electric vehicles and their parts. Land and buildings also remain exempt from VAT.

    Small companies, manufacturers, and agricultural businesses will no longer face withholding tax deductions on their income or payments to suppliers. In addition, small businesses will be exempt from the four percent development levy previously applicable.

    To ease electronic transactions, transfers below N10,000 will not attract stamp duty. Salary payments, intra-bank transfers, and transfers of government securities, shares, or stocks are also exempt. All documents related to share transfers are covered under this relief.

    Oyedele also announced a civic initiative tagged “Influencing for Good,” aimed at empowering content creators and influencers to educate the public on Nigeria’s new tax reforms.

    “We are selecting 20 creators who have demonstrated commitment to public enlightenment for a special training session to help them share accurate and useful tax information,” he explained.

    The 50 tax exemptions and reliefs mark a significant shift in Nigeria’s fiscal policy direction — one that prioritizes equity, productivity, and relief for households and businesses as the nation works toward a fairer and more efficient tax system.

  • Otedola lauds Tinubu’s 15 percent fuel import tariff policy

    Otedola lauds Tinubu’s 15 percent fuel import tariff policy

    Billionaire businessman Femi Otedola has expressed support for President Bola Tinubu’s decision to implement a 15% import tariff on petrol and diesel.

    In a statement by Otedola, the businessman said the policy is a bold step towards protecting Nigeria’s refining and energy investment landscape.

    Otedola wrote: “I commend President Bola Ahmed Tinubu for his bold and decisive step in implementing a 15 per cent import tariff on petrol and diesel”.

    He added the tariff will safeguard the billions of dollars invested in domestic refining infrastructure and promote industrialisation.

    “This policy represents a crucial move towards safeguarding local industries that have made substantial investments in domestic production and refining capacity,” he continued.

    He added the tariff is expected to create jobs and stimulate economic growth by encouraging domestic production.

    “This tariff not only protects the billions of dollars already invested in refining infrastructure but also underscores the government’s commitment to driving industrialisation, creating employment, and building a sustainable energy future for our nation.

    “This policy will also help establish a stable and sustainable pricing regime, contributing to greater control of inflation and long-term economic stability,” he added.

    Otedola praised Tinubu’s leadership, stating that his focus on empowering local producers and promoting value addition within Nigeria exemplifies the type of visionary leadership required to steer the nation towards realising its ambition of becoming a $1 trillion economy.

    “President Tinubu’s ability to deploy policy as a catalyst for economic transformation is truly commendable.

    “His focus on empowering local producers and promoting value addition within Nigeria exemplifies the type of visionary leadership required to steer our nation towards realising its ambition of becoming a $1 trillion economy,” he added.

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    Otedola also warned against repeating past mistakes that crippled Nigeria’s industrial base through unrestricted importation of cheaper goods.

    “For decades, Nigeria’s industrial base has suffered from the unchecked importation of cheaper and often substandard goods, a practice that crippled once-thriving sectors such as textiles, local vehicle assembly, and manufacturing,” he wrote. 

    He emphasised that the country cannot afford to allow history to repeat itself in the energy sector, particularly now that Nigeria possesses the capacity to meet its petrol and diesel requirements locally.

    “We cannot afford to allow history to repeat itself within the energy sector, particularly now that Nigeria possesses the capacity to meet its petrol and diesel requirements locally”, he added.

    Tinubu approved a 15% import duty on petrol and diesel to protect Nigeria’s local refineries and stabilise the downstream market.

    This move aims to safeguard the investments made in domestic refining infrastructure and promote economic stability.

  • Fed Govt secures 90 hectares from Oyo govt for Moniya Dry Port project

    Fed Govt secures 90 hectares from Oyo govt for Moniya Dry Port project

    The Federal Government has received 90 hectares of land from the Oyo State government to build the Moniya Inland Dry Port in a bold move to expand the country’s maritime infrastructure and decongest seaports.

    In a statement yesterday by the Director of Information and Public Relations in the Federal Ministry of Marine and Blue Economy, Anastasia Ogbonna, the Permanent Secretary, Olufemi Oloruntola, said he received the Certificate of Occupancy (C of O) from Oyo State Deputy Governor Abdul-Raheem Lawal on behalf of the Federal Government.

    The permanent secretary described the gesture as a demonstration of genuine partnership and shared commitment between both governments to strengthen regional trade and industrial growth.

    He noted that the project aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to position Nigeria as a maritime hub in Africa.

    “The Moniya Inland Dry Port will serve as a strategic national asset, bringing shipping services closer to importers and exporters while stimulating industrial and agricultural growth across the Southwest,” Oloruntola said.

    READ ALSO: PDP in terminal comatose without hope of survival — Fayose

    The permanent secretary, who represented the minister, Adegboyega Oyetola, hailed Oyo State for its “patriotic support” in advancing the Federal Government’s maritime reform goals.

    He lauded the initiative as a milestone in intergovernmental cooperation for trade facilitation. The Executive Secretary of the Nigerian Shippers’ Council (NSC), Dr. Pius Akutah, who was represented by the Director of Inland Transport Services, Ahmadu Garta, applauded the Oyo State government’s collaboration on the project.

    He emphasised that inland dry ports remain vital to modern commerce, serving as extensions of seaports and reducing logistics costs for businesses operating inland.

    “The development of the Moniya Inland Dry Port will not only promote ease of doing business but will also expand Nigeria’s logistics capacity and enhance regional connectivity,” Akutah said.

    Oyo State Deputy Governor Abdul-Raheem Lawal reaffirmed the state’s commitment to the successful delivery of the project.

    He urged the ministry and the NSC to adhere strictly to the implementation timelines of the project.

    “We are committed to seeing this project through, but we also implore the Ministry and the Council to ensure this project is delivered in time for the maximum benefit of the people of Oyo State and its environs,” Lawal stated.

    The statement said the event also featured the official handover of the Certificate of Occupancy and a joint inspection of the project site by officials of the FMM&BE, NSC, and the Oyo State government.

    “Strategically located near the Obafemi Awolowo Train Station, the 90-hectare site benefits from existing freight and passenger rail connectivity linking Lagos ports (Apapa and Ebute Metta) to Moniya, Ibadan. This infrastructure advantage is expected to enhance cargo movement efficiency and ease pressure on Lagos ports.

    “The development follows a similar gesture by the Ogun State government, which recently allocated 130 hectares of land to the Federal Government for the Ijebu-Ode Inland Dry Port, underscoring growing regional alignment in expanding the country’s dry port network,” the statement added.

  • Taming Lagos ports gridlock with technology

    Taming Lagos ports gridlock with technology

    For years, Apapa, Nigeria’s premier port district, was synonymous with chaos. Long queues of articulated trucks snaked across bridges and highways, paralysing business and trapping commuters for hours. By 2018, the gridlock had grown into a national embarrassment, costing billions in man-hours and crippling port productivity. But in 2021, a quiet revolution began. Nigerian Ports Authority (NPA), in partnership with Trucks Transit Parks Limited (TTP), rolled out Ètò—an electronic call-up and truck scheduling system designed to tame the chaos. AFIONG EDEMUMOH writes.

    Four years later, and following the recent deployment of “electronic barrier systems” across all terminals within the Lagos Port Complex, sanity has returned to Apapa’s roads.

    Despite criticisms from “entrenched interests” seeking to profit from disorder, NPA data and on-ground observations tell a different story: traffic now moves in structured lanes, access to terminals is digitally regulated, and cargo evacuation is faster than at any time in the last decade.

    The Ètò Electronic Call-Up System, designed and managed by TTP, is at the heart of this transformation. It is a digital truck scheduling platform that allocates access slots to trucks heading to the port, ensuring only those with valid electronic call-up tickets can enter designated terminals.

    According to NPA, the system’s integration with newly installed “electronic barriers” has sealed previous loopholes. Each barrier, linked directly to the Ètò platform, lifts automatically only for verified trucks assigned to specific terminals. Unauthorised vehicles are denied entry.

    Before this, truck drivers routinely diverted between terminals or loitered around the port area, hoping to secure last-minute jobs. These unscheduled movements clogged access roads and caused daily chaos. Now, port entry and exit are digitised, traceable, and almost entirely free of human interference.

    “For years, unauthorised truck movements and human interference undermined efficiency in port operations. With the barrier system now active, we have end-to-end control from the point of booking to terminal access and exit,” the General Manager, Operations, NPA, Stella Oladiran said.

    She added that the new technology has delivered measurable results: “Key benefits already recorded include improved control of the electronic call-up process, enhanced data accuracy in tracking truck movements, transparent monitoring of inter-terminal traffic, and higher port productivity.”

    Digital transformation

    To sustain the call-up system, the NPA, working closely with the Lagos State Government and other agencies, developed 29 designated truck parks across Lagos State. Each park is now fully equipped with Ètò infrastructure, including automated gating systems and integrated IT equipment.

    From these parks, trucks are only released towards Apapa or Tin Can Island when their call-up time arrives. This sequencing prevents illegal parking along bridges and residential roads.

    “Electronic barriers and the Ètò system have brought a level of discipline that was impossible before. It is no longer business as usual for touts, extortionists, or drivers who used to cut corners. Every movement is monitored in real-time,” said a top source in the NPA who is pleading anonymity.

    Full integration

    While the Ètò system addresses road traffic, the NPA has gone further, promoting a multi-modal transport system that includes rail and barge operations for cargo movement.

    The authority takes pride in this development as it enhanced seamless movement of goods into the port. This has been further corroborated by a Kano-based exporter, Mohammed Usman, who said that he was able to save a substantial amount of money following the transportation of his goods, about 100 tons of millet from Kano to Lagos by rail for onward transshipment to its final destination.

    “I spent almost 50 per cent less as haulage cost to move my millets in containers from Kano Railway Station to Lagos Port. If these cargoes were moved by trucks, it would have cost me far more,” he said.

    NPA officials confirmed that the reactivation of rail operations for both imports and exports has drastically reduced truck pressure on port roads. The authority has also licensed several barge operators and introduced a regulatory framework to ensure their vessels are seaworthy, fitted with communication equipment, and compliant with operational standards.

    “When we approved barge deployment, we discovered many didn’t have proper communication equipment. We directed them to install such and ensure their crafts are seaworthy. This ensures safety and prevents disruptions in the channel,” another  souce who pleaded not to be named because he is not authorised to speak on the matter.

    Tackling the empty container crisis

    Another major reform has been the “NPA’s new policy on empty container management”. The policy mandates shipping lines to take back at least “80 per cent of loaded containers” they bring into Nigeria, in emptinesses or export cargo, before departure.

    This directive aims to prevent empty containers from littering port corridors and worsening congestion. Combined with Ètò and electronic barriers, it forms a holistic traffic and logistics control ecosystem that aligns with global port management practices.

    Addressing false narratives

    Despite visible improvements, the system has not been free from criticism. Recent media reports alleging a “return of gridlock” on port access roads have been dismissed by both port authorities and truck owners as “sponsored misinformation.”

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    Reacting to the claims, the Port Manager of Lagos Port Complex, Adebowale Lawal, reaffirmed NPA’s commitment to maintaining order and transparency.

    “We have recently undertaken a review and enhancement of the Ètò system, which now integrates Terminal Gates directly with the platform. This integration provides structured sequencing of truck movements, both inbound and outbound, within the Apapa Port Complex,” he explained.

    He emphasised that the success of the system depends on “cooperation and compliance” from all stakeholders, including terminal operators, unions, drivers, clearing agents, and government agencies.

    “Sequencing truck entry and exit is not rocket science. With sincerity of purpose and commitment from all concerned, we can prevent a return to the chaotic conditions of the past. Smooth ingress and egress will, in the long run, bring high turnover for all stakeholders,” Lawal said.

    Stakeholders’ views

    For truck owners and drivers, the new system has been a relief. The Chairman of the Association of Maritime Truck Owners (AMATO), Remi Ogungbemi, debunked reports of system failure, describing them as “false and exaggerated.”

    He said: “All the road arteries leading to the Apapa Port—Wharf Road, Creek Road, and adjoining routes, remain orderly and passable.

    “Trucks are moving in a single, regulated lane towards their designated terminals in compliance with safety directives. This organised movement should not be mistaken for gridlock.”

    He added: “We urge the public and the media to disregard unfounded rumours. The current traffic situation reflects improved discipline, better enforcement, and enhanced cooperation among stakeholders.”

    Ogungbemi also commended NPA and the Lagos State traffic agencies for maintaining enforcement discipline. “We remain committed to continuous collaboration with government agencies and terminal operators to sustain the gains achieved so far,” he stated.

    Data integrity

    Beyond decongestion, the Ètò and electronic barrier systems have introduced a new level of transparency in port operations. Each truck movement is logged digitally—its booking details, arrival time, and terminal access are all recorded and traceable.

    According to NPA, this real-time data allows for better coordination across the logistics chain and provides valuable insights into terminal efficiency, truck turnaround time, and cargo throughput.

    “Previously, a lot of the inefficiency was due to the absence of reliable data,” said a TTP systems engineer familiar with the deployment. “Now, every truck’s journey is logged from park to terminal exit. This gives the Authority visibility it never had before.”

    The data, he said, is also helping NPA enforce compliance and sanction defaulting terminals or trucking companies that attempt to manipulate the system.

     General Manager, Corporate and Strategic Communications, NPA, Ikechukwu Onyemekara, in a statement, dismissed insinuations that the system had collapsed, attributing such claims to “mischief by meddlesome interlopers.”

    He said: “The era of all forms of illegality in truck access to ports is over. The electronic call-up system is a global best practice, and with the electronic barrier now in place at all terminals, practices that encourage chaos along the port corridor are no longer possible.”

    Onyemekara noted that the NPA would continue to collaborate with genuine stakeholders to strengthen the system and sustain efficiency. “We remain committed to engaging all who are genuinely invested in the growth of Nigeria’s maritime industry,” he added.

    The road ahead

    For the first time in decades, Apapa’s roads are relatively calm. While occasional bottlenecks occur—mostly due to external factors like bridge repairs or law enforcement lapses, the scale of disorder witnessed in 2018 and 2019 has not resurfaced.

    Industry analysts argue that NPA’s digital transformation could serve as a model for other congested African ports. By merging automation with enforcement, Nigeria has shown that technology can succeed where manual control failed.

    Still, sustaining these gains will require vigilance. Stakeholders warn that the temptation to revert to old habits—bribes, queue-jumping, and unregulated parking; remains ever-present.

    “The system is working. But we must keep it transparent and continue to block loopholes. Once enforcement weakens, the old chaos can return,” said Andy Orji, a clearing agent who operates daily at Apapa.

    The story of Ètò is ultimately one of persistence and reform. When the system was introduced, it faced fierce resistance from those who benefitted from disorder—middlemen, extortionists, and rogue operators. The NPA, however, held its ground.

    Today, with the integration of electronic barriers and the promotion of multimodal transport systems, the authority has achieved what years of task forces, roadblocks, and manual interventions could not: a functional, technology-driven solution to port traffic.

    For residents, truckers, and businesses along the corridor, the difference is visible. The Apapa of 2018, where a journey of five kilometres could take eight hours, is gradually becoming a memory.

    And as digital systems continue to shape Nigeria’s port reforms, Ètò, industry players agree, stands as a testament to what can happen when innovation meets institutional will.

  • Two decades of Nigerian power sector privatisation: Solving a wicked problem

    Two decades of Nigerian power sector privatisation: Solving a wicked problem

    By Dr. Ransome Owan

    Introduction

    The views expressed herein are mine alone as a 45-year power sector expert since 1980.  In addition, I have been the pioneer Chairman and CEO of the Nigerian Electricity Regulatory Commission (NERC), Chairman of the Disco Buyers Roundtable, Chairman of the Genco Buyers Group and the Chairman of the Board of Port Harcourt Electricity Distribution Company.  I remain an active member of the Nigerian power sector for 20 years since 2005.   The principal focus of this contribution is the advocacy for steady electricity supply for State Capitals and the Federal Capital Territory (FTC) by 2030.  The five-year goal is clear and measurable.  It is also a good fit for the states to define early success by making their priority to provide steady lights for their capitals.

    The Nigerian power problem is complex, multi-dimensional and difficult to solve because it is a “wicked problem.”  The paucity of power is behind the sector reforms.  However, the goal of uninterrupted electricity supply as a national objective has remained elusive for 65 years since independence in 1960.  The burning question on the minds of many is when will Nigeria have uninterrupted power?

    This contribution is designed to give an answer to the puzzle of steady power in our great country.  Since the advent of deregulation in 2005 and the privatisation of the sector in 2013, the electricity supply industry has struggled to implement solutions with less than stellar outcomes.  As a result, the nation continues to be mired in power outages, inadequate power generation, unstable networks, lack of liquidity, deficiency of meters and financially struggling electricity distribution companies (DISCOs).  The reality of poor sector performance has left the public with no choice but to disparage privatisation with palpable disquiet among electricity customers.

    The wicked power problem defined 

    A wicked problem is a “term of act” that is associated with intractable problems that tend to defy easy solutions.  Wikipedia, the online reference platform makes reference to a wicked problem as “…a problem that is difficult or impossible to solve because of incomplete, contradictory, and changing requirements that are often difficult to recognise…”wicked” does not indicate evil, but rather resistance to resolution….”  Rittel and Webber also viewed wicked problems as problems with many interdependent factors, solutions are not true or false, only good or bad and “every trial counts.”  Furthermore, the problem has many stakeholders often with competing goals, consensus is difficult, there are no quick fixes, every solution impacts the entire ecosystem, solutions are expensive, …. making universal solutions difficult to achieve.  I, therefore, make bold to say that our Nigerian power problem fits the characterisation herein presented.

    A brief look back at privatisation

    The earnest journey of privatisation is 20 years old, from 2005 to 2025 with mixed results.  The nation should take a cue to avoid continuing with darkness as a way of life for another 20 years.  The country did well when it took bold steps from 1999 to 2025 and reformed the power sector, driven principally by the desire to improve electricity supply efficiencies and adequate power generation. The power sector was decoupled or unbundled.  And the electricity supply monopoly of the National Electric Power Authority (NEPA) was broken.  New market players and managers entered generation and distribution of electricity while transmission remained a Federal Government responsibility.  There are also many stakeholders in the power sector of the country, namely: the Ministry of Power, the National Assembly, the Nigerian Electricity Regulatory Commission (NERC), the Central Bank, the World Bank, the Rural Electrification Agency, Siemens Power Project, Presidential Power Initiative, Gencos, Discos, TCN, Independent System Operator, Nigerian Bulk Electricity Trader (NBET), Energy Commission of Nigeria, the Niger Power Holding Company, Nigerian Governors Forum, and the National Economic Council, Electricity Unions, customers, the National Assembly, the State Governments, and the Presidency and others

    The legal and regulatory reforms

    The National Assembly passed the first Electric Power Sector Reform Act in March 2005 as Reform 1.0 and the Act of 2023 as Reform 2.0.  In the beginning of NERC, the pioneer commissioners had to deal with managing change and laying the foundation to give succor to investors.  That tradition continued with subsequent NERC regimes that have achieved regulatory stability.    The enactment of the Power Reform Act 2023 means that the national power malaise has been divided into 37 portions along state boundaries.  Therefore, the focus has shifted from seeking national power solutions to state level interventions.

    In retrospect, Reform 1.0 first created NERC and birthed the Power Holding Company of Nigeria (PHCN).  NERC vision remains on the provision of an enabling environment for the nation to enjoy safe, adequate, reliable and affordable electricity through promulgated rules and regulations.  Furthermore, PHCN was changed and incorporated into limited liability companies under a 11-6-1 model comprised of eleven power distribution companies or Discos, six power generation companies or Gencos, and a single Transmission Company of Nigeria or TCN (one Disco sale failed).  The Bureau of Public Enterprises (BPE) subsequently steered the tender process that privatised (a mix of outright sale and concession agreements) Discos and Gencos in November 2013, leaving TCN under Federal Government control.

    The power sector Reform 2.0 conferred regulatory authority to states of the federation.  It also permitted the unbundling of TCN by the creation of the Nigerian Independent System Operator (NISO). 

    The privatisation of Discos had a unique bidding model that departed from the common technical and financial bidding process.  In this regard, all Disco Bidders were “price takers” in economic terms, meaning that the Disco prices were non-negotiable.  The government fixed both the sale prices and set the losses for the Discos.  As a result, the Preferred Bidders were selected based on who tendered the highest reduction in Average Technical, Commercial and Collection (ATC&C) losses over five years.  A vexing issue that arose from the onset was the inability of buyers to thoroughly conduct their due diligence on the assets for several reasons beyond this discussion.  By inference, buyers bought the power problem and were handed “airplane black boxes” to analyse and fix the root problems of a beleaguered sector. 

    Although the power sector had become privatised in 2013 the government acted responsibly through “infant industry” support and paid labour severances and provisioned for the payment of PHCN legacy liabilities among other substantive financial and material support.  The Central Bank, the World Bank and others also assisted the sector to improve performance.  However, despite the regulatory reforms that gave birth to the Multi-Year Tariff Order (MYTO), encouraged independent power generation, eligible customers, and embedded power generation among other innovations, the power sector is still unattractive for new investment.  It is weighed down by huge energy supply and metering gaps, high ATC&C losses, and power theft, to mention a few.  The other culprits are the perennial power generation deficit and persistent inequality between the electricity supplied and the revenue collected from customers to pay other market participants in the electricity supply value chain of the nation. 

    Preserving the regulatory bargain

    Largely, NERC has safeguarded regulatory certainty, notwithstanding a few regulatory summersaults and interferences by the proverbial invisible hand.  Successive NERC regimes have not cancelled the foundational regulations promulgated from 2005 but instead the scope of regulations has been expanded with innovations guided by the demands of the market (see www.nerc.org.ng).  As a critical national institution, NERC is internationally well regarded as a beacon of good public rulemaking and acclaimed transparency. Although not yet successful, the government on its part has stayed the course with privatisation and it should not reverse it.  The power sector reform process is like building a bridge which must be completed for the benefits to be achieved.

    A new way forward

    Another question on the minds of many is has power sector privatisation yielded the intended benefits?  If not, what is the way forward.  The 20-year report has fallen short of expectations.  The global success formula of power sold is equal to revenue is not being met.  After 20 years of experience in power sector reforms, an “ex post” review of progress should inform the powers that be to look back at what has happened and develop new methods to drive success in the power sector with a commonsense approach.

    The fact is that the economy and every citizen are affected by epileptic power supply.  Unfortunately, the electricity supply industry that owns generation, transmission and distribution or stakeholders cannot individually solve the problem.  It requires collective and concerted effort by all parties/stakeholders previously mentioned.  Among the sector multiple players are the following: NERC, 11 Discos, Aba Power, privatised and concessioned Gencos, TCN owned by FGN, Presidential Power Initiative, Siemens Energy Project, the Nigerian Governors Forum, the Energy Commission of Nigeria, Rural Electrification Agency, Niger Power Holding Company, the Systems Operator, Electricity Unions, customers, the National Assembly, the State Governments, and the Presidency and others.   From the preceding, I am advocating that all the stakeholders should join hands with a unified power sector solution that is proven, clear, easy to understand and easy to measure.

    Steady power for proposal for 36 state capitals and the FCT by 2030

    I will not address all the multitude of problems and possible solutions that can be offered to solve the power problem.  Instead, since a wicked problem solution choice is either better or worse.  A worse solution is for the nation and the power sector to continue business as usual, and a better solution is to try something different. The better solution proposed is the adoption of city-by-city steady power commitment starting with providing steady power to 36 state capitals and the FCT by 2030.  Now no one can dare predict when the nation will achieve steady power (a hallmark of a wicked problem).  However, with the 2030 capital city power idea, the goal of realising steady power for 37 major cities with more than half the population is clear and achievable (see Table 1 below).  This approach is like the mobile phone market entry model where service rollouts starts in major cities such as Lagos, Abuja, Port Harcourt, Kano and Ibadan.  Naturally, Discos will not freeze services to other customers.  It will simply provide a power barometer for all to see progress since electricity must be produced and used in real time.  One of the early visible results would be improved Disco cash flows and high transfer of payments from self-generators of electricity who would switch back to grid power once it is reliable.  For most users, power generation is not their core business.  To that end, and without fear of contradiction, when steady power happens, I predict that there will be open celebrations.     

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    The principle of city-by-city electrification is tested and followed by all countries that have achieved steady power.   Why not Nigeria.  It is better to eat apples, birthday cakes or pizza slice by slice.  This offers an opening to break from the past and deliver steady electricity first where more people are concentrated and that would be in the capital cities of our states and the FCT.  From Table 1 above, it is assumed that 55 per cent of the people reside in state capitals or over 98 million people nationwide.  Therefore, it is a good target to plan and deliver steady power in the first instance.

    The state capitals in each DISCO are discreet urban cities, and success can easily be measured.  In addition, the Local Government Areas (LGAs) are also shown and make it numerically easy to partner with REA to electrify them with solar power or hybrid power solutions.  If the focus is first on state capitals followed by LGAs, it would become possible to predict when Nigeria would substantially attain steady power.  Until then, it is elusive and daring to envisage steady power soon and that should not continue.

    The implementation architecture: FGN, NERC, States, Gencos, TCN & Discos

    The wicked problem of the power sector is also a systemic problem because it affects the entire economy.  Therefore, all stakeholders are recommended to work together to solve the problem. By inference, all existing power support initiatives in the country should work in unison on providing capital cities steady power by 2030.  It would be important to recognise that although the power sector has been liberalised for 20 years, there are still links between federal, state and organised private sector.  It is only through a joint effort that the interest of all sector players would be adequately addressed.

    The key success factors are close cooperation between all the parties, revenue/liquidity boost, customer enumeration, pay-as-you-go meters (Governors should consider investing in smart meters which are cheaper than transformers), power demand forecast, bilateral power contracts, rebalancing the networks, systems and feeder digitalization and data analytics.  The challenges notwithstanding, the 37 capital cities steady power by 2030 as articulated herein is a better roadmap to achieving uninterrupted electricity supply in our great nation. 

    It is a clear objective and well defined with a clear timeline of 5 years from 2026 to 2030.  It might even be good for the nation to see some competitive tension about which city will be the first to have steady power.  It is my submission that there will be celebrations for every city that attains steady power.