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Leadway Assurance Partners With AGRA To Strengthen Climate Resilience Of 21,000 Smallholder Farmers Through ‘Pay At Harvest’ Crop Insurance Scheme

In a significant step towards deepening agricultural resilience across Nigeria, Leadway Assurance Company Limited has entered into a strategic partnership with the Alliance for a Green Revolution in Africa (AGRA) through a $399,900 grant initiative to implement the “Building Farmers’ Resilience through Innovative Insurance Models and Financial Instruments” project.

AGRA is an African institution supporting inclusive agricultural transformation and sustainable food systems. This three-year initiative, running from March 2025 to March 2028, aims to transform the livelihoods of 21,000 smallholder farmers (SHFs) across Kaduna, Nasarawa, and Niger States.

Climate change continues to escalate risks for Nigerian farmers, manifesting in unpredictable rainfall, prolonged droughts, extremely high lethal temperatures and increased crop failure. This volatility threatens national food security/systems and undermines years of agricultural progress. Recognising the scale of this challenge, Leadway Assurance has taken a bold step forward, championing innovative risk management strategies tailored to the realities of rural agriculture.

At the heart of the new intervention is the “Pay at Harvest” insurance scheme, an innovative premium collection model that enables farmers to defer insurance payments until after harvest, when liquidity is more assured. This approach lowers the financial barriers to insurance enrollment, increases uptake among SHFs, and embeds resilience within the agricultural value chain.

“Pay at Harvest” empowers farmers to protect their livelihoods without upfront costs, ensuring they can bounce back from climate-related losses and secure credit, inputs, and market access with greater confidence.

This new grant builds upon Leadway Assurance’s successful three-year partnership with Heifer International, under which over 60,000 smallholder farmers benefited from the “Pay at Harvest” model.

The current AGRA-funded and sponsored project goes a step further by offering a more holistic package, including access to off-takers and market linkages, extension services and climate-smart agronomy support, digital mapping of farmlands for enhanced monitoring and accountability, timely early warning systems for extreme weather events, scalable farmer education programs to promote financial literacy and climate-smart practices, and expanding public-private collaborations for unlocking innovative finance, including green climate finance, for crop insurance.

To deliver on this ambitious vision, Leadway Assurance will work alongside expert partners, Verdure Climate – supporting climate risk analytics, PULA – offering tech-enabled agricultural insurance solutions, Rural Country Integrated Services Ltd. – field implementation partner, National Agricultural Development Fund (NADF) and Heifer International – unlocking catalytic finance for SHFs.

By 2028, the initiative also aims to facilitate $10 million in agricultural credit, launch 6 new financial products tailored to smallholder farmer needs and disseminate 4 knowledge products to drive broader sectoral adoption.

Commenting on the initiative, Head, Agribusiness, Leadway Assurance, Mr. Fatona Ayoola described the partnership with AGRA as a decisive moment for agricultural risk management in Nigeria. “By bringing bespoke parametric insurance solutions to underserved communities who are vulnerable to the negative impact of climate change and aligning them with broader value chain interventions, we are not only protecting livelihoods but also rebuilding trust in farming as a viable business for rural Nigerians.”

According to Dr. Rufus Idris, Country Director at AGRA,“For Nigeria’s agricultural transformation and food security efforts to succeed amid increased climate uncertainty, insurance needs to work better in helping smallholder farmers protect their farmlands and crops from climate change shocks (flood, draught, pest and diseases, etc.). Hence, this project aims to help build on a proven model and catalyze resources for a wider access to insurance and adoption by smallholder farmers”.

by Online Poster — April 16, 2025 in Insurance and Pension 0

Mefor Urges Legislation Against Use Of Industrial Oxygen In Anambra Hospitals

Anambra State Commissioner for Information, Dr Law Mefor, has stressed the need for legislation to stop use of industrial oxygen in hospitals.

Speaking recently during his courtesy visit to the Managing Director/Chief Executive Officer, Anambra State Oxygen Production Plant, Lady Nwamaka Arinze, at her office in Chukwuemeka Odumegwu Ojukwu University Teaching Hospital (COOUTH), Awka, Mefor expressed displeasure over the continued use of industrial oxygen in hospitals instead of pure medical oxygen, pointing out that it’s a very dangerous thing.

According to him, “since it’s proved that industrial oxygen is not good for human consumption, it should be a legislative issue. There should be a law against it; providing a clear punishment. This is because without legislation, our people will still go for what they consider cheap regardless of the final outcome.

“That is one thing I noticed in the South East. They go into wealth without morality. It’s a very dangerous thing. Every penny must be earned in a decent way. You don’t have to put people’s lives in the line because you want extra or quick money. I have seen it everywhere. Everywhere you turn, you see that high premium is placed on money over and above human lives. Ọgbọ Ọgwụ was recently closed by NAFDAC for fake, expired and banned drugs.

“The only way to really curb or contain this is through legislation. And of course, it doesn’t stop at legislation. We also need to enforce the law because sometimes, the problem is not even the absence of law but enforcement. And enforcement in Anambra State has its own challenges,” he said.

The commissioner assured that the Ministry of Information will partner the office to sensitise Ndị Anambra on the dangers of using industrial oxygen in hospitals.

Earlier, the MD/CEO, Anambra State Oxygen Production Plant, Lady Arinze, disclosed that she has the mandate of Governor Chukwuma Charles Soludo to ensure that pure medical oxygen is made available, accessible and affordable to Ndị Anambra, even as she decried the use of industrial oxygen in hospitals.

“I thank God we have been producing pure medical oxygen. We always have standby oxygen in case of emergency. The challenge we are having is trying to educate some doctors who I know that they know that industrial oxygen is not good for human consumption.

“You know here in Nigeria, they only do autopsy for corpses in controversy. For others, if they are given industrial oxygen and they die, you still pay the doctor before you carry the corpse. It is ours to build and not to destroy. It is ours to save lives in any little way we can,” she said.

by Online Poster — April 16, 2025 in News 0

NGX Group Commemorates The Legacy Of Retired Directors, Calls For Strengthened Market Collaboration

Nigerian Exchange Group (NGX Group) celebrated the extraordinary contributions of its retired directors, whose visionary leadership played a pivotal role in shaping the evolution of Nigeria’s capital market. The ceremony, held on Wednesday, April 9, 2025, followed the Group’s 64th Annual General Meeting (AGM) in Lagos, and brought together a distinguished gathering of regulatory leaders, government officials, traditional rulers, and members of the diplomatic community.

The event underscored NGX Group’s commitment to sustaining the legacy of innovation, operational excellence, and stakeholder engagement, principles championed by the honorees. Their foundational work continues to guide the Group’s mission to deliver long-term value and market growth.

In his opening remarks, Alhaji (Dr.) Umaru Kwairanga, Group Chairman of NGX Group, paid tribute to their enduring impact:

“Tonight, we honor the remarkable men and women whose leadership, dedication, and foresight have left an indelible mark on our Exchange and Nigeria’s financial markets. Their legacies remain ingrained in our DNA and will continue to inspire our path forward.”

Mr. Abayomi Oluyomi, Commissioner for Finance, Lagos State, representing Governor Babajide Sanwo-Olu, emphasized the honorees’ broader economic influence. “Their contributions extended beyond the Exchange, reinforcing Lagos’s position as Africa’s leading financial and economic hub.”

Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), acknowledged their transformative role. “These distinguished leaders laid the groundwork for today’s dynamic, transparent, and globally competitive capital market. Their governance standards and bold decisions remain benchmarks for excellence.”

Adding royal commendation, His Imperial Majesty, Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, praised their national impact. “As a custodian of tradition and progress, I celebrate these trailblazers whose wisdom and commitment have driven Nigeria’s economic advancement and inspired future generations.”

Mr. Aigboje Aig-Imoukhuede, CFR, Former President of The Nigerian Stock Exchange and Chairman of Access Holdings Plc, reflected on their legacy. “Capital markets are the backbone of thriving economies. The progress we see today stems directly from these directors’ vision, integrity, and leadership, which established enduring governance standards.”

A poignant moment came with a tribute to the late Bamofin Abimbola Ogunbanjo, OFR, former Group Chairman, whose leadership was instrumental in NGX’s demutualization and modernization. Other key figures, including Mr. Oscar N. Onyema, OON, former CEO of The Nigerian Stock Exchange and GMD/CEO of NGX Group, were also celebrated for steering the Exchange through landmark transformations.

Closing the event, Temi Popoola, Group Managing Director/CEO of NGX Group, remarked:

“Tonight, we honor not only the architects of our past but also the partners shaping our future. To our retired directors, your legacies ignite the aspirations of tomorrow’s leaders. Together, we will continue building a market that embodies Nigeria’s innovation, resilience, and strength.”

With decades of collective service, the retired directors have propelled NGX Group into a modern, technology-driven exchange. Their contributions have strengthened governance, elevated investor confidence, and enhanced Nigeria’s capital market on the global stage, laying a robust foundation for sustainable growth and investment across Africa.

by Online Poster — April 15, 2025 in Capital Market 0

Shell Commends Oloibiri Lecture Series As Platform For Change

Member, Society of Petroleum Engineers (SPE), Board of Trustees, Felix Chijioke Obike and General Manager, Wells and Geosciences Operations, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Joe Mordi during the 2025 SPE Oloibiri Lecture Series and Energy Forum (OLEF) in Abuja.

Shell Nigeria Exploration and Production Company Ltd (SNEPCo,) one of the sponsors of the Oloibiri Lecture Series and Energy Forum (OLEF) has commended it as a platform for driving change in Nigeria’s energy sector through the discussions that centre on business performance, cost discipline and process simplification.

“This event is special to the Shell brand, not only because of the nostalgia of Oloibiri but the quality of discourse it has enabled in our sector over the years,” SNEPCO Managing Director Ronald Adams said in a goodwill speech delivered by General Manager, Wells and Geosciences Operations Joe Mordi. He said: “We are grateful to the Society of Petroleum Engineers and our host the Petroleum Technology Development Fund (PTDF) for another successful outing.”

Organised by the Society of Petroleum Engineers (SPE) Nigeria Council, the Oloibiri Lecture Series and Energy Forum began in 1991, in commemoration of the country’s first commercial oil discovery by Shell at Oloibiri, Bayelsa State, in 1956. Ronald said recent developments in the Upstream and Downstream sectors of the energy industry, including the $5-billion final investment decision by Shell in the Bonga North Deepwater project echoed the sentiments around the first oil discovery.

He noted: “These strides come with a commitment to excellence required of us – for stakeholders, colleagues, our country and indeed, future generations. The theme for this year ‘Driving energy sustainability through technology, policy and supply chain excellence’ reflects this commitment. The future is bright, and we have the opportunity to co-create it.”

by Online Poster — April 15, 2025 in Energy 0

Photo News

L-R: Pastor Chuks Anochie, Resident Pastor of Dominion City, Ajah; Pastor Shola Olapade, Resident Pastor of Dominion City Church, Lagos Headquarters; Pastor Blaise Udunze and Ambassador Henry Agbai, during the press briefing to announce the Church’s annual programme – Camp Meeting 2025, billed for 17th to 21st April with the theme “Revival and Multiplication”—at the Lagos headquarters.

by Online Poster — April 14, 2025 in News 0

Army Decries Poor South East Youth Enlistment Into Military Service

Army Decries Poor Igbo Youths' Enlistment in Military Service

LarryBravo Nwaiwu

The Nigerian Army has raised the alarm over the poor enlistment of South East youths into the military service, and called for a change of attitude to reverse the trend.

According to the Army, while Kaduna State had recorded over 3,000 applications in the ongoing 2025 recruitment exercise, Enugu State was still struggling with just a hundred, noting that the story was not different with other South East states.

It called FC numbers in the ongoing 2025 recruitment exercise to fill their quotas.

The Army made the call in Enugu during an enlightenment town hall meeting with Local Government Council Chairmen, traditional rulers, Presidents-General of town unions, and other community and thought leaders at the weekend.

Leader of the 2025 Army Recruitment Enlightenment Team, Brigadier-General Chima Ekeator, said, “Our people are losing what rightly belongs to them. Each year, whenever a slot is being allocated to our people, we keep noticing that the number of applicants from our side is usually very poor.

“Take for example, Enugu State was given about 200 slots, but the people who made it were never up to 100 due to poor application. This has also become a recurring decimal in other states in the South East.

“Today’s statistics on the number of applicants show that Kaduna has about 3,000 applicants, while Enugu is still battling with about a hundred; and by the time we will be through with screening, you will not have enough to recruit from the state.”

He refuted the allegation that people of South East origin were being killed in their numbers in the Army because they were the first to be sent to the battle fronts. He added that the region was also holding strategic positions in the Army presently.

“There are a lot of falsehoods out there stating that the Igbo are being killed because they are the first to be sent to the battlefield. These things are not true. After all, we that are here have risen high in the Army and we are telling you that they are lies. Today in the Nigerian Army, our brother is one of the top commanders in charge of equipment. His name is Chibueze Ogbuabor,” he said.

Speaking, the Commissioner for Youths and Sports Development, Barr. Lloyd Ekweremadu, regretted that the problem had persisted despite the collective efforts to reverse the trend and called for a review of modes of advertising the opportunities and the need to provide more details about the benefits of serving in the Army.

“While seated here, I was just trying to conduct a very quick research and it appears this same problem is happening worldwide and militaries across the world are deploying more cutting-edge strategies for recruitment because we are talking about the new generation that you communicate in a different way from the past,” he stated.

He reiterated Governor Peter Mbah’s commitment to ensuring that the state filled its quota, describing the military as a noble and highly respected profession across the world.

On his part, the Chairman of the Enugu State chapter of the Association of Local Governments of Nigeria, ALGON, Hon. Okechukwu Edeh, pledged even stronger cooperation of the Local Government Council, but called on the military high command to equally address any concerns of the people to make the service more appealing to the youths.

Also speaking, the State Coordinator, Presidents-General of Enugu State Town Unions, Hon. Arinze Ogbodo; former Chairman, Enugu State Traditional Rulers Council, Ambassador Lawrence Agubuzu and the traditional ruler of Nomeh Unataeze, Lieutenant Colonel Israel Mbah (rtd.), called on the youths to enlist in the Army, but stressed the need for more enlightenment.

“I was a military man before. I survived every war. I did mine and today I am a traditional ruler. So, I believe that our young people should join the force,” Mbah stated.

by Online Poster — April 14, 2025 in News 0

Moniepoint to Strengthen UK and Nigeria Trade Ties Partnership

L-R Co-Founder and Chief Technology Officer, Moniepoint Inc, Felix Ike; Head, Financial Services, Department for Business and Trade, DBT, Hugh de Lusignan; Co-Founder and Group CEO, Moniepoint Inc, Tosin Eniolorunda and British Deputy High Commissioner in Lagos, Mr. Jonny Baxter during the British envoy’s visit to Moniepoint Inc office in the UK.

In era where global commerce is increasingly interconnected, the significance of fostering strong trade relationships between nations cannot be overstated. With the UK-Nigeria trade relations are expected to see significant growth in several sectors this year, the British Deputy High Commissioner in Lagos, Mr. Jonny Baxter has paid a working visit to Moniepoint’s UK office. The visit underscores the value of strong partnerships in driving growth and innovation across continents, with Moniepoint’s emergence as a global fintech leader, showcasing how bilateral cooperation fuels economic progress.

During the meeting, discussions revolved around strengthening trade and investment ties between Nigeria and the UK. Mr. Baxter highlighted the importance of trade as a cornerstone of diplomatic and economic relations between the two nations, emphasizing its role in fostering prosperity, innovation, and cooperation across sectors such as energy, financial services, and infrastructure. The envoy highlighted the British International Investment (BII)’s investment in Moiniepoint Inc as a critical point in increasing economic opportunities for small businesses in Africa, as well as enhancing financial inclusion for consumers and providing direct financing to impactful companies.

Tosin Eniolorunda, Founder and Group CEO of Moniepoint, lauded the British government and DBT for creating an enabling environment for Nigerian businesses operating in the UK. He noted that Moniepoint’s presence in the UK contributes to actualizing this bilateral relationship by ensuring it is not a one-sided transfer of investments but a mutually beneficial partnership.

“Trade and investment are pillars of UK-Nigeria relations. We’re proud to be part of a movement that’s turning those pillars into bridges for real economic transformation. Our mission has always been to engineer financial happiness while powering the dreams of millions businesses and individuals through digital financial technology. Every step we take—whether in Nigeria or the UK—is about making that vision a reality. Our growth is a testament to what’s possible when partnerships go beyond investment—it’s about shared prosperity and innovation,” Eniolorunda said.

Eniolorunda also acknowledged the Enhanced Trade and Investment Partnership (ETIP) between Nigeria and the UK as a critical framework for unlocking market access, regulatory cooperation, and job creation in emerging sectors. He highlighted opportunities for collaboration in areas such as innovative financial services and cybersecurity products.

Moniepoint operates as an all-in-one financial ecosystem, offering seamless payments, banking, credit, business management and cross border solutions to over 10 million businesses and individuals across Nigeria and Africa. It has established itself as the leading financial platform for Nigeria’s vast network of small and medium-sized businesses (SMEs), especially those in the informal segment of the economy. Moniepoint’s mission to drive financial inclusion and empower businesses has been widely acknowledged and signposted by its listing for two consecutive years as Africa’s fastest growing financial institution. As Nigeria’s largest merchant acquirer, the company powers most of the country’s Point of Sale (POS) transactions, processing over 1 billion transactions monthly, with total payments volume exceeding $22 billion.

During the visit, Moniepoint discussed plans for new solutions to help Nigerians in the UK easily send money home. These solutions will leverage Moniepoint’s reputation for trust, speed, and transparency to solve payment issues. Eniolorunda noted this is part of a larger effort to improve economic and trade relations between Nigeria and the UK..

Moniepoint executives at the event include Felix Ike, Co-Founder and Chief Technology Officer, Moniepoint Inc; Moniepoint Inc; Ross Strike, Senior Vice President, M&A & Investor Relations; and Ravi Jakhodia, CEO, Moniepoint UK. The British delegation which had in attendance Hugh de Lusignan, Head of Financial Services at the Department for Business and Trade (DBT) recognized Moniepoint as a testament to Nigeria’s growing prominence in global fintech while reiterating the UK’s commitment to furthering economic collaboration with Nigeria, particularly as both nations explore new opportunities for innovation and growth

by Online Poster — April 14, 2025 in Capital Market 0

Seplat Energy’s Sustainability Commitments Targeted Beyond Today – COO

Seplat Energy Plc, leading Nigerian independent energy Company has restated its commitments to energy sustainability as it impacts people, environment and corporate governance, stressing that its focus is long-term with dividends accruable beyond today.

The Chief Operating Officer, Seplat Energy, Mr. Samson Ezugworie, stated this at the Society of Petroleum Engineers (SPE) Nigeria Council 2025 Oloibiri Lecture Series and Energy Forum (OLEF) held in Abuja recently.

Ezugworie, who spoke in the Forum’s panel session titled ‘Driving Energy Sustainability Through Technology, Policy, and Supply Chain Excellence’ maintained that business sustainability is about vision and building a future “you may not benefit from”.

He likened sustainability to the human race and many challenges that have confronted it; amongst which is energy poverty in Nigeria, which he stressed had limited the potential of the country and its people.

Speaking on Seplat Energy’s effort at addressing energy poverty in Nigeria, Ezugworie noted that over 850MMscfd of gas installations have been achieved in-country (excluding capacities from the recently acquired MPNU assets).

“Over the years, we have currently installed over 850MMscfd of gas geared towards supplying gas to domestic users in Nigeria. With the recent acquisition of the MPNU assets, we will now begin to explore and exploit other growth options. We are going to go into the mass gas reserves of that asset and still ensure that we use significant part of that to power Nigeria,” the Seplat Energy COO said.

He said the panel’s theme which hovers around energy sustainability, technology, policy and supply chains is centred around human beings and building the right capacities to drive growth and developmental progress. “Early this month at Seplat Energy, 50 young graduates just resumed for employment and they are undergoing diverse trainings at the moment. For us, this is capacity development; making sure that we have the funnel of talents that will replace us in due course. This is sustainability,” Ezugworie affirmed.

Highlighting what Seplat Energy had done in the deployment of technology in Nigeria’s gas space, the Seplat Energy COO said the Company’s various interventions were quite transformational. Seplat has implemented its end of routine flaring (EORF) roadmap, which includes investments across our production facilities to minimise Scope 1 & 2 greenhouse gas emissions and improve overall energy efficiency.

For instance, the first module of Seplat’s Sapele Integrated Gas Plant (SIGP) has commenced operations and is now producing. Once the plant is operating at capacity, expected during 2025, it has the potential to materially reduce the Group Scope 1 emissions. Other ongoing key flare-out projects, including the Western Asset Flares Out (installation of vapour recovery unit compressors), Sapele LPG Storage & Offloading Facility, Oben LPG Project and Ohaji Flares Out Project. The Company is on track to end routine flaring of gas across its onshore assets in 2H 2025.

Ezugworie also highlighted Seplat Energy’s strong commitment in deliver Corporate Social Investment initiatives in health, education and access to energy sustainably in Nigeria. Last year, 352 teachers were impacted in the 2024 edition of Seplat Teachers Empowerment Programme (STEP); 6,373 students impacted during the 2024 Pearls Quiz; 4 Science Technology Engineering Arts & Mathematics (STEAM) Labs equipped in 4 secondary schools; 9,780 impacted in the 2024 Eye Can See Programme; and Energy solutions delivered in 6 schools and 3 hospitals completed.

by Online Poster — April 14, 2025 in Energy 0

Sterling Bank Takes Sides With Nigerians

… Eliminates Bank Transfer Fees

In a bold move that resets the rules of engagement in the Nigerian banking sector, Sterling Bank has removed transfer fees on its digital banking platform, OneBank. This decisive move makes Sterling the first major Nigerian bank to forgo earning a cut from customer transactions on its own app.

The initiative marks a turning point in the industry and reflects the bank’s deep-rooted

commitment to building a future where banking is affordable, accessible, and in tune with the everyday needs of Nigerians.

“This is not a gimmick. This is the future. And it starts now,” said Abubakar Suleiman, Chief

Executive Officer of Sterling Bank, during a press briefing in Lagos. “For years, Nigerians have paid fees just to move their own money. We’re saying no more.”

Suleiman explained that the decision stems from years of digital transformation. The bank builtba custom callback system capable of handling over five million customers, already processing more than 180 million transactions. It also migrated entirely from a legacy European core to a homegrown platform built for scale, and deployed a private cloud environment with capacity

well beyond current and future demand.

“We’ve engineered a platform that can support 50 times our current customer base without breaking a sweat,” Suleiman added. “It’s time to pass the benefits of that transformation back to the people.”

The zero-transfer-fee policy applies exclusively to users of OneBank, Sterling’s flagship digital app. New customers who sign up before April 30 will also receive a complimentary AfriGo debit card and lifetime access to fee-free transfers.

This is more than a product update. It’s an economic statement,” Suleiman said. “We are

taking sides with the customer, with the small business owner, with every Nigerian tired of being nickel-and-dimed by the system.”

Obinna Ukachukwu, Growth Executive leading the Consumer and Business Banking

Directorate, said the policy is both a reward for loyal customers and an invitation to new ones.

“We owe this to the customers who stuck with us through our transformation journey,”

Ukachukwu said. “We are also opening the door to anyone ready to bank differently. If you join us in April, you’re family, so you get the same lifetime benefits.”

He added that Sterling’s next steps would involve layering on even more value in the months ahead, targeting both individuals and businesses with tools that improve financial wellbeing and fuel economic growth.

“We still bear a portion of the transaction costs, including fees payable to other banks. But we’re doing this because we believe it’s right. And if others in the industry follow suit, we all win,” Ukachukwu concluded.

About Sterling Bank

Sterling Bank is a forward-thinking financial institution committed to transforming lives through innovative solutions, exceptional service, unwavering integrity and a steadfast focus on it’s HEART strategy. As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, proving that purpose-driven leadership can unlock transformative outcomes for individuals, businesses, and society at large.

by Online Poster — April 11, 2025 in News 0

Enugu State Electricity Commission Issues Fresh Power License

Enugu State Electricity Commission issues fresh 5MW Power license, says more under way

LarryBravo Nwaiwu

In yet another milestone in its regulatory efforts to boost electricity supply in the state, the Enugu State Electricity Regulatory Commission, EERC, has issued a 5MW power generation license to Tempo Power Solutions Ltd to set up a gas-fired plant.

This brings to a total of 15MW, the worth of power generation licenses issued by EERC since the successful completion of the transfer of regulatory oversight from the Nigerian Electricity Regulatory Commission, NERC, to the agency on October 22, 2024, a feat it was the first state to achieve.

Speaking during the issuance of the license at the EERC office in Enugu, Thursday, the Chairman and Chief Executive Officer of the agency, Chijioke Okonkwo, said the milestone reflected the growing confidence that private sector players and investors reposed in the Enugu State electricity sector and in the enabling environment created for electricity business to thrive.

“Tempo Power swiftly took advantage of this opportunity offered by the conducive investment climate in Enugu State, engaged an off-taker and successfully completed the application process for the generation license.

“Their project is a model of proactive engagement and strategic partnership, and the successful deployment of this 5MW power plant is a collective win for all of us. We are confident that as the market grows, Tempo Power will continue to scale up its capacity.

“We acknowledge that this transformation was initiated by the visionary leadership of Governor Peter Mbah through the articulation of the Enugu State Electricity Policy 2023 and the enactment of the Enugu State Electricity Law also in 2023.

“Since we successfully completed the transfer of regulatory oversight from the national regulator (NERC) to EERC on 22nd October 2024, we have issued interim licenses, including an interim distribution license to Mainpower Electricity Distribution Limited and a 10MW generation license to Fedikore Limited.

We have successfully resolved over 60 customer complaint issues and we are equally reviewing four license applications covering generation, electricity distribution and electricity retail,” he stated.

While recognising the arduous work ahead, the EERC Chairman reiterated the Commission’s commitment to working collaboratively with stakeholders – electricity providers, policymakers, financiers, and communities – to deliver reliable, accessible, and sustainable power across the State.

He, therefore, advised other would-be investors to emulate Tempo Power by taking advantage of the abundant energy sources in the state and increasingly business-friendly environment being created by the Mbah Administration.

“Enugu State is open for energy business. We invite investors and developers to harness the wealth of natural energy resources in the State. The enabling environment fostered by the Government has made investment decisions easier and more attractive.

“Enugu State has witnessed transformative improvements that support the electricity sector development, including major upgrades in access roads and infrastructure, enhanced security of lives and property, targeted socio-economic initiatives, among others. These developments form the bedrock for electricity investment and most will serve as anchor loads to extend electricity to our underserved and unserved communities across the State.

“Today, we celebrate with Tempo Power Solutions. And soon, we will also celebrate with other licensees whose applications are undergoing review – across generation, distribution, and retailing of electricity,” Okonkwo concluded.

In his remark, the Exective Director of Tempo Power, Mr Collins Kalabare, commended Mbah for setting the pace in what states could do to solve Nigeria’s energy problem, and the EERC for running a professional and transparent system where investors do not need to know anybody to get things done fast.

“I must appreciate the EERC for the professional, business-minded and openness of their processes and operations. The process is seamless and you do not need to know anybody.

“EERC is indeed working according to the vision and speed of Gov Peter Mbah, who we have learnt is in a hurry to develop and make Enugu State*s economy grow and uplift the general status of residents and businesses.

“As a reputable and responsible company, we will be offering uninterrupted electricity supply, cost reflective tariff and electricity supply meant to add value to commercial and residential concerns as well as grow businesses and general economy of the state,” Kalabari said.

by Online Poster — April 11, 2025 in News 0