Business

‘120m Nigerians Live Without Electricity’

Published

8 years ago

February 19, 2018

The Chief Executive Officer of All On, one of the leading companies in the global energy market, Dr Wiebe Boer has revealed that 120million Nigerians live without electricity supply.
Boer further stated that millions of Nigerians do not get up to four hours of power supply daily, and added that it was to bridge this yawning gap that All On decided to invest in the energy sector to bring uninterrupted electricity supply to millions of underserved and unserved people in the Niger Delta in particular and Nigeria in general.
Boer made the statement, last Friday, in Port Harcourt, during a press briefing organized by the off-grid investment company, to announce the closing of financial deals with three firms to provide accelerated access to affordable, durable and sustainable energy sources to millions of people without access to electricity supply in the Niger Delta region.
He added that the energy investment company was partnering with solar home system leader, Lumos Global BV; leading mini-grid player, Green Village Electricity; and solar-powered marketplace cold storage business driver, ColdHubs; to rollout and expand much needed energy supply to grossly underserved people of the Niger Delta region and Nigeria in the coming months.
According to him, “These developments are coming barely three months after All-On announced its first set of transactions in Nigeria’s off-grid market, and two months after the firm and U.S. Africa Development Foundation (USADF) announced a $3million partnership to expand access to energy for underserved and unserved markets in Nigeria.
“These investments made in these energy solution providers further demonstrate our firm belief that off-grid energy is indispensable in the improvement of Nigeria’s energy narrative. It, therefore, deserves adequate attention and financial backing from both the public and private sectors”, Boer added.
In his remarks, Managing Director and Chief Executive Officer, GVE Projects Limited, Ifeanyi Orajaka, said “We at GVE are excited about this relationship with All On”, adding that “An investment from a world-class organisation such as All On further validates our position as one of the leading and most innovative indigenous clean energy solutions providers in Sub-Saharan Africa.”.
Chief Executive Officer, ColdHubs, Nnaemeka Ikegwuonu described the investment as a demonstration of All On’s commitment beyond simply addressing the access to energy gap, to harnessing innovative renewable energy solutions for the preservation of perishable foods in Nigeria.
“This support will enable ColdHubs to further refine its business model to help improve the livelihoods of people and enhance food security in the Niger Delta region”, Ikegwuonu said, adding that it was now set to provide farmers, retailers and wholesalers necessary equipment to enable them preserve their perishable food stocks for as long as 21 days or more before their wears get to end-users.
Also speaking, Lumos’ Chief Executive Officer, Davidi Vortman said, “This debt facility from All On both cements the strategic relationship between our two companies and goes a long way towards significantly accelerating the speed of penetration of Lumos Solar Home Systems in the Niger Delta region.”
Represented by Vice President, Marketing, Ashida Olufemi, Vortman said Lumos was “excited to work with All On to enhance energy access for Nigerians in the Niger Delta and across the country,” and promised to focus on providing access to electricity to underserved and unserved communities in the Niger Delta to accelerate their economic growth and development while also helping to reduce poverty, crime and unemployment.
All On Investment Manager, Florence Okoli said “We have three deals that we signed here today in Port Harcourt, and all of them are helping find solutions to the energy access problems in Nigeria,” and commended the three companies for the successes recorded through the initial pilot projects in the region.
She expressed optimism that the collaboration would go a long way in addressing the energy needs of the people in the Niger Delta.
The Tide investigations revealed that in addition to the 120million without access to electricity, an estimated 20million do not have more than four hours of power supply daily.
Also, only about 10million Nigerians get between eight and 16 hours of electricity supply daily just as around 30million privately generate their own electricity.

Susan Serekara-Nwikhana

Business

Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs

Published

4 days ago

April 10, 2026

The Tide

The Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has unveiled the plans to host a major economic and investment summit aimed at attracting five billion dollars, ( N7 trillion) investments in addition to creating about 500,000 jobs over the next five years.

The Chairman of NDCCITMA Board, Ambassador Idaere Ogan, disclosed this in Port Harcourt, recently.

Ogan stated that the initiative is designed to reposition the Niger Delta as a viable destination for sustainable economic growth and development.

He explained the summit would bring together investors, policymakers, manufacturers and business leaders from within and outside Nigeria to explore opportunities across key sectors of the regional economy.

According to him, the event is expected to attract high-profile participation, with President Bola Tinubu billed as Special Guest of Honour, while the Prime Minister of Barbados, Mia Amor Mottley, is expected to deliver the keynote address.

Ogan said the summit would focus on critical sectors including agriculture, manufacturing, logistics and the blue economy, which he described as areas with significant untapped potential.

He called on state governments, development partners and private sector stakeholders to support the initiative, stressing that collective efforts are required to unlock the region’s economic prospects.

NDCCITMA chairman further stated that improving security conditions and increasing economic confidence in the Niger Delta have made the region more attractive to both local and foreign investors.

He emphasised that ongoing economic reforms at the national level have also contributed to creating a more favourable investment climate.

Also speaking, the Chairman of the Summit Organising Committee, Dr. Solomon Edebiri, said the event would prioritise the growth of small and medium-scale enterprises (SMEs) across the region.

He noted the summit would provide a strategic platform for networking, business partnership and policy dialogue aimed at strengthening the private sector.

Edebiri disclosed that findings from a recent business roundtable revealed significant untapped investment opportunities, which the summit seeks to harness through targeted collaborations.

He revealed that the event would feature exhibitions of viable projects, facilitate business-to-business and business-to-government engagements, and also promote innovations across multiple sectors.

According to him, the expected outcomes of the summit include job creation, increased industrial activity and improved livelihoods for people in the Niger Delta.

To build momentum ahead of the event, NDCCITMA said the body would embark on awareness roadshows across states in the Niger Delta, as well as in Lagos and Abuja, to attract broad participation.

King Onunwor

Business

NPA Targets N1.489tn Revenue In 2026

Published

4 days ago

April 10, 2026

The Tide

The Management of Nigerian Ports Authority (NPA) has set N1.489 trillion as its Internally Generated Revenue (IGR) target for the 2026 fiscal year.

NPA says the figure represents an increase of N21 billion over the N1.468 trillion target for 2025, which the agency exceeded with an actual revenue of N1.97 trillion.

The Managing Director NPA, Dr Abubakar Dantsoho, stated this during the agency’s 2026 budget defence before the Senate Committee on Marine Transport.

Dantsoho said the authority was set to begin groundbreaking projects for the modernisation of Apapa and Tin Can Island ports to enhance global competitiveness.

According to him, of the projected revenue: N945 billion is allocated for capital projects, N447.5 billion for operating expenses, and

N90.6 billion for remittance into the Consolidated Revenue Fund (CRF).

The MD explained that the budget was anchored on the mantra, “Consolidation, Renewed Resilience and Shared Prosperity.”

Dantsoho said that the modernisation of Apapa and Tin Can Island ports were flagship projects aimed at boosting revenue.

“Apapa and Tin Can Island ports are old and no longer adequate for modern global port operations.

“Apapa Port is about 100 years old, while Tin Can Island Port is over 50 years old, with limited capacity for handling modern vessels and cargo volumes.

“Groundbreaking for their modernisation will commence within the next two to three weeks,” he added.

On the Treasury Single Account (TSA), Dantsoho said all revenues generated by the NPA are paid directly into the account managed by the Central Bank of Nigeria (CBN).

“We do not retain any funds. The Central Bank is the signatory and we must apply for funds whenever needed,” he explained.

Earlier in his remarks,Chairman of the Senate Committee on Ports, Sen. Wasiu Eshinlokun (Lagos Central), said the committee’s oversight function was collaborative rather than adversarial.

“Our goal is to work with you to strengthen institutional capacity, eliminate inefficiencies and ensure that every naira appropriated serves the public interest,” he said.

Chinedu Wosu

Business

NPF Disburses ?21.68m To Fallen Heros’ Families …Reinforce Welfare Commitment

Published

4 days ago

April 10, 2026

The Tide

Nigeria Police Force has disbursed a total of ?21,678,120 to the deceased police officers families in Rivers State as part of ongoing welfare interventions by the force.

The gesture formed a major highlight of the activities marking the 2026 National Police Day celebration in the state, underscoring renewed institutional focus on personnel welfare and post-service support systems.

The Commissioner of Police, Olugbenga Adepoju, who presided over the cheque presentation ceremony, said the initiative reflects the Force’s commitment to honouring officers who paid the ultimate price in their line of duty.

He explained that the financial support is designed to cushion the economic burden faced by bereaved families, while also reinforcing confidence among serving personnel about the Force’s long-term welfare structure.

Adepoju conveyed the sympathy of the leadership of the Nigeria Police Force to the beneficiaries, noting that the sacrifices of fallen officers remain invaluable to national security and public safety.

The police boss further stressed that sustained welfare interventions are critical to boosting morale, enhancing productivity, and strengthening institutional loyalty within the Force.

He reiterated that the welfare scheme aligns with broader reforms aimed at repositioning the Nigeria Police Force as a responsive and people-oriented institution.

Beneficiaries of the cheques commended the Inspector-General of Police, Olatunji Rilwan Disu, for prioritising the welfare of officers and their families through consistent and impactful interventions.

They described the initiative as timely and compassionate, noting that it would go a long way in alleviating financial pressures arising from the loss of their loved ones.

The families also acknowledged ongoing reforms under the current police leadership, which they said have strengthened trust, improved service delivery, and enhanced the overall image of the Force.

The Rivers State Police Command reaffirmed its commitment to sustaining similar initiatives as part of efforts to uphold the dignity, sacrifice, and legacy of officers who served the nation with distinction.

King Onunwor