Business
Lagos Residents Laud FG For Increased Power Generation
Some residents of the
Lagos metropolis on Tuesday commended Federal Government’s efforts at improving the nation’s electricity supply as power generation increased from 2, 718 megawatts to 3,342 megawatts.
They spoke in separate interviews with our correspondent in Lagos, against the backdrop of the improvement recorded in electricity supply.
The General Manager, Media Communications, Eko Electricity Distribution Company Plc (EKEDCP), Mr Idemudia Godwin, said the power supply had improved when compared to previous weeks.
Godwin said that currently the company is receiving about 338 megawatts from Egbin, Para Electric and National Grid, compared to when they received less than 150 megawatts from the National Grid.
He said that power firms and government were putting in place measures to improve the sector.
Some artisans including welders, hair dressers, barbing salon operators also confirmed to our correspondent that supply had improved and had boosted their businesses.
Similarly, some operators of cold rooms at Ijora and Oshodi said the hours of supply had improved but they still complement the power supply with their personal generators.
The Chairman, Surulere Welders Association, Mr Fagbemi Abiodun, said that government should be commended over the improvement in power supply to some parts of Lagos State in the last few days.
Abiodun said that would go a long way in sustaining artisans in the state who had lost interest in power supply over the years.
He urged the government to sustain the tempo and improve on it, saying that the improvement would lead to job creation.
According to him, some manufacturers and big-time welders that fell under the industrial or maximum-demand customers, consumed the greatest volume of electricity.
“At the time of very low generation and supply, that category of consumers depended solely on generators.
Abiodun, who said that members were excited over the development, however, appealed to the authority to sustain and improve on the supply.
The President, Ijora Hairdressers Association, Mrs Augusta Cletus, who corroborated the improvement in power supply, said much was still required to make the desired impact.
Cletus urged distribution companies to effect repairs on damaged cables to enable small businesses to thrive.
“Most of our members that I spoke to on this issue, confirmed that there has been significant improvement in electricity supply unlike in the past when we may not have electricity for some days.
“I will like to advise the government not to relax, as so much need to be done. Government should ensure that there is adequate supply of gas, and at very affordable price.
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Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
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.
