Business
Commission Wants Nigerians To Patronise Energy Bulbs
The Energy Commission of Nigeria, ( ECN ), has called on Nigerians to adopt the culture of using energy saving bulbs, (Light Emmiting Diodes LED) in their homes and workplaces.
ECN said the culture would promote energy efficiency in public buildings.
The Commission in a statement signed by Larry Ogar, a staff of Clean and Green Energy, during a 2 Day sensitisation workshop organised by ECN in collboration with the contracting firm at the Federal Government College, Port Harcourt recently.
Speaking at the event, Larry Ogar said the aim of the workshop was to create awareness to the public on the need to promote energy efficiency in public buildings in Nigeria.
The energy awareness campaign, Ogar said was also to raise students awareness on the importance of energy savings and promote the huge energy saving potentials through the use of energy efficient lighting.
Also speaking, Engr. Yahaya Yekini, a representative of Energy Commission of Nigeria said Light Emmiting Diodes ( LED) bulbs reduce energy consumption at homes and workplaces
“Our aim is to promote energy saving culture in our homes, workplaces and public buildings across the country,” Yekini said.
Earlier, the Vice Principal of Federal Government College, Port Harcourt, Dr. Samuel Udom said the exercise was a welcome
development to electricity users
Udom, who described the Energy workshop as educative, said the awareness on energy bulbs would create the promotion of energy saving culture in our homes.
The principal said the sensitisation programme would certainly help the students in their future endeavours.
Chinedu Wosu
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
