Business
Institute Urges NERC To Improve Power Supply
The Nigeria Institute of Electrical and Electronics Engineers (NIEEE) has advised the Nigerian Electricity Regulatory Commission (NERC) to improve its services before implementing the new tariff.
President of the association, Mr Adekunle Makinde, gave the advice in an interview with our correspondent in Lagos on Monday.
Makinde said the tariff should be more cost-reflective as many residents were not happy with the recent hike in electricity tariff.
He complained that the palliatives for effective billing system had not been activated.
“Apart from the tariff, the people are not even getting the power they need, because what we have always stood for is that before you increase this tariff the service has to be there first.
“Let the service be available. Let there be quality power supply to the people. That is number one.
“What about the metering? What about billing people? Many of our people are still being billed haphazardly. The pre-paid meters have not been circulated.
“Even in Lagos that is so highly a metropolitan environment, only 10 to 15 per cent of Lagos (residents) have the pre-paid meter, which is not supposed to be.
“So, many of our people are still being billed arbitrarily. It is not exactly what they are consuming that they are being billed and that is one of the reasons why people are going to be crying foul.
“When people see that it is exactly as it should be, even if you increase the tariff, they can calculate what they have consumed and understand with the authorities.”
He said it was the union’s belief that for Nigerians to be properly billed, they should have stable power to do their businesses effectively.
“It is only when all these are achieved that we can talk about tariff increment.
“Government should be responsible and responsive; for me, there is nothing like policy summersault.
“Some people will say that government cannot reverse its decision; if a government is elected by the people, then the government should listen to the yearnings of the people.”
The NIEEE boss, therefore, advised government to ensure effective metering to reduce estimation of bills.
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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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