Business
Power Generation Hits 2,400MW, Improves Supply
There is a relative improvement in the generation capacity of the power plants. This is because the generating capacities of the plants have peaked to 2,400 megawatts.
Before now, The Tide investigation revealed that most rural areas are not having power supply because they are considered not commercially viable for the organisation in terms of revenue.
Because of this several communities especially semi urban and villages have had prolonged power outages, some upwards of one month without power supply.
This has been the trend in the last one month, a source close to the power Holding Company of Nigeria told The Tide.
According to the source, the improvement achieved is attributed to the hydro power plant which are now contributing 772 mega watts to the national grid in the last few days.
A look at the generating trends indicates that since the beginning of this month the least generated capacity was 216 mega watts and this was Saturday 2nd August and since that time, the generating capacity has been fluctuating between that figure and 2,400MW.
As at the weekend, the three hydro power plants contributed 772 MW while Egbin and Delta generated the remaining mega watts Okpai generated 281, Afam 6, operated by Shell 445 MW.
Geregu, Omotosho Olorunsogo, Sapele and Afam 1-5 operated by Power Holding Company of Nigeria PHCN are down because of lack of gas supply to them.
However, sustaining the current level of generation is the greatest challenge the organisation has now.
The power allocation to the Abuja metropolis and lagos and Kano recorded a significant boost translating into a marked increase in supply to residents of the territory in the last ten days.
In Abuja the mega watts allocation has been jacked up to 140 while in Kano and the surrounding states are now on 100 mega watts, up from the hitherto 50MW.
According to inquiry by The Tide in Abuja some areas within the capital city recorded an unpresidented three days unprecedented power supply with others saying outages at a time lasted not more than two hours, a trend Power Holding Company of Nigeria attributes to increase in water level and grid generation.
Debo Adegoke, PHCN’s Abuja Regional Principal Manager Public Affairs revealed that allocation as at weekend was 140 mega watts, as against the previous allocations to the Federal Capital Territory (FCT) which was as low as 40 mega watts.
He said, “There has been an increase of power generation so daily allocation has improved.
And the rate at which we ration will decrease because of availability.” He said Abuja did not have problems like poor distribution lines adding that stable power distribution will definitely continue as long as allocation remain sustained.”
Effurun Igbo Public Relations Officer PHCN noted that the problem with lack of power in the country was complicated by an acute lack of gas supply in the nation to the thermal power stations, adding that even at peak periods the nation’s three hydro power stations located at Jebba, Kainji and Shiroro could contribute only 25 per cent to the nation’s power generation.
The situation is similar in Kano State, the commercial capital city of Northern Nigeria where electricity supply has been recorded in the past 48 hours. The improvement has brought relief to most residents, who for sometime now have been experiencing acute electricity outages.
Investigation revealed that most parts of the State capital are presently enjoying up to 10 hours of uninterrupted electricity supply.
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Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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