Business
Only 22 % Poorest Households In Nigeria Have Access To Electricity -World Bank
Most poor households in Nigeria are not connected to the country’s electricity supply network as only 22 per cent of the poorest of them have access to grid power, the World Bank has said.
The bank said this in its report on Nigeria Power Sector Recovery Programme, which was based on latest figures sourced from operators such as the Nigeria Electricity Regulatory Commission, the Rural Electrification Agency, the National Bureau of Statistics, power generators and distributors.
An analysis of the detailed report showed that many poor Nigerians, particularly those in rural areas, were not connected to the country’s power grid.
In the report, the bank asked, “Who is connected to the grid?” And it answered the question by saying, “Only 22 per cent of the poorest households have access to electricity”.
It then argued that keeping electricity tariff low was beneficial to the rich more than the poor as the former were more connected to the grid and consume more electricity.
It said, “Who gets the higher benefit? For every N10 the government spends on meeting the tariff shortfall, N8 goes to the richer households who don’t need help paying their bills”.
The bank stated that the average annual per capita electricity consumption of Nigeria was 148 kilowatt-hour, making the nation a fourth of typical middle-income country consumption.
It stated that 40 per cent of people with access to electricity relied on non-grid sources such as generators, solar home systems, while low income households resorted to candles and flashlights.
According to the bank, 41 per cent of Nigerian households pay for grid electricity and only 18 per cent of them pay for more than 100kWh/ month.
The report observed that 58 per cent of non-farm enterprise owners were women and many of them were home-based, reliant on generators and were losing sales.
The bank said, “Large number of rural schools and health centres are unelectrified – critical for human development.”
It said electrification in Nigeria had been at 1.1 per cent per annum since 2010 and had not kept pace with population growth, which it put at three per cent per annum, hence increasing deficit by about three million people to 85 million (57 per cent of population).
“Nigeria now has 25 per cent more unelectrified people than the second most unelectrified ciuntry (DRC – in absolute terms)”, the bank stated.
It added, “For bottom 40 per cent of the population (mostly rural), access to grid electricity is even lower at about 31 per cent nationwide. Regionally, only South-West has access over 50 per cent (except Kano).”
The bank said Nigeria now had the largest number of unelectrified people globally and the trend was worsening, adding that of the electrified, the supply was very unreliable with widespread blackouts
It stated that to achieve universal access to electricity by 2030, Nigeria would need to connect over one million households per year.
The bank, however, said its proposed engagement with the Federal Government on power sector recovery was under two streams, with the aim to provide holistic support for addressing key challenges through results-based lending.
The global financial institution said the programme was being led by the Office of the President with the ministers of finance and power and the commitment to balance fiscal space with tariff adjustments, while ensuring protections for poor.
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Business
Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs
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
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
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
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