Business
Nigeria Needs More Investment To Achieve 195,400Mw Energy Deficit
For Nigerians to enjoy constant electricity supply, there is the need for more investments in the sector that will culminate in the country being able to generate 200,000 MegaWatts (MW).
This means Nigeria needs additional 195,400 megawatts to meet its electricity needs, because it generates an average of 4,600MW for a population of 200 million.
Group Managing Director, Mojec International Limited, Chantelle Abdul, disclosed this at the yearly international conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos.
She said low energy generation was responsible for frequent blackouts in the country.
“Based on international standards of 1 GW (1000MW) to one million people, the country is expected to, at least, generate 200GW (200,000MW) to give the population better access to electricity.
“Nigeria has the capacity to generate 12.5GW (12,000MW) of electricity, but owing to different reasons, the 29 generation companies (GenCos) are only able to generate, transmit and distribute between 3GW to 5GW (3,000MW to 5,000MW)”, Abdul said.
She said Nigeria, Africa’s most populous country, faces surging electricity demand owing to rapid urbanisation and industrialisation.
According to her, before 2023, there were 26 gas-powered plants and three hydro plants, but the approval of 11 new GenCos in the year had taken the electricity generating plants to 40, with the country’s transmission wheeling capacity standing at about 8.1 GW (8,100MW).
She expressed hope that the new Electricity Act would pave way for more investment into the sector to allow states to generate, transmit and distribute their electricity.
Egbin has the highest capacity as a gas plant to produce 1.39GW (1,390MW), and Kainji Jebba Power Plc has the highest capacity as a Hydro plant to produce 1.33GW (1, 330MW).
Abdul said solar plants could be introduced to the state governments to serve as a means to generate electricity for their various regions.
In a related development, Nigeria will need about $25 billion of yearly investment in the next 10 years to achieve crude oil output of 4 million barrels per day and 3 billion cubic feet per day of domestic gas production, Executive Chairman, AA Holdings, Austin Avuru, has said at the conference.
Speaking on the theme, “Nigeria’s Energy Transition: Enhancing investment opportunities & addressing challenges in the energy sector”, Avuru said Nigeria should focus more on energy security and optimise the value of its oil and gas resources before committing to its energy transition agenda.
He explained the energy transition agenda is a lot more serious than an issue that has to do with carbon emissions in the country, adding that carbon emissions reduction has been the key factor that all the energy transition argument has been hinged on.
Most countries have focused on addressing energy security and optimising the available resources while driving the transition.
The Executive Chairman said every country would address these two things before coming to what some people think is the residual matter of reduction of carbon emission.
He underlined the need Nigeria should prioritise energy security for both now and in the future and optimise the value of the numerous energy resources that it has today, while still pushing the energy transition agenda.
Avuru said if the government must prioritise the energy transition agenda, it should have raised the country’s crude oil production to about three to four million barrels per day presently; then, reduce production to one million barrels daily by 2040.
He believed the country should have achieved domestic gas production of four billion cubic feet per day between now and 2030.
To curb the incessant oil theft in the country, the Nigerian Upstream Regulatory Commission (NUPRC) has introduced the Advanced Cargo Declaration regime in upstream petroleum operations to arrest oil robbery and curtail export of stolen crude oil.
The commission also stated its plans to reactivate shut-in wells as part of initiatives to increase oil and gas production in the country.
The Commission Chief Executive, Gbenga Komolafe said this intervention at the conference, represented by Abel Nsa, Head of the National Oil and Gas Excellence Centre (NOGEC) Department, NUPRC, said the initiative aims at ensuring that crude oil and gas cargoes exported from Nigeria have a unique identifier that confirms all documentation as regards the exported consignment.
‘‘This implies that any cargo without the unique identifier becomes tagged as illegitimate. This, by no small measure, enhances transparency in our export operations”, he stated.
He said NUPRC had deployed key resources to the Special Investigative Unit of the Commission to forestall any cases of sharp practices by operators in the sector.
‘‘Over the next few months, we are positive that we shall record a marked increase in our national oil and gas production volumes.
“Quick-win strategies such as our aggressive drive to reactivate shut-in and declining wells will boost production prior to the onset of more long-term initiatives like operations from the new marginal field awardees.
“Also, the Commission is working alongside security operatives to bring a halt to the menace of crude oil theft, which has over the years contributed to a huge loss of production”, he said.
The Commission Chief Executive added that the agency had begun the implementation of the Drill or Drop Provision with a comprehensive review of assets which had been undeveloped by operators.
Such assets, he said, would be placed in a basket and then offered to willing and qualified investors with the capacity to explore, develop and produce the block(s) or field(s) in a timely, efficient, safe, and environmentally friendly manner.
He stated that the ongoing mini bid round for seven Deep Offshore Petroleum Prospecting Licences (PPLs) would boost the nation’s reserves as well as bring about anticipated benefits to the nation and other stakeholders.
On reduction in unit cost per barrel and revenue, he explained that the Commission is committed to ensuring a significant reduction in the cost of doing business in the upstream petroleum industry.
‘‘Following an in-depth comparative analysis between the Unit Operating Cost (UOC) in Nigeria and those obtainable in other climes
“We have commenced the development of cost studies and benchmarks to ensure an improvement in the cost efficiency of our upstream petroleum operations, in accordance with Section 8 of the Petroleum Industry Act 2021.
The NUPRC has also begun a review of all Crude Handling Agreements (CHA) with a view to entrenching openness and competitiveness, thereby reducing the cost of production while increasing government revenue from the sector. It is noteworthy that in the year 2022, using the strategies listed above, the Commission outperformed its revenue collection target by 18.3 per cent’’, he explained
Komolafe maintained that the Commission had stepped up efforts toward transparency in the sector and that transparency in hydrocarbon accounting was essential in ensuring maximum value derivation by the government and stakeholders.
According to him, transparency is essential to ensuring security of investments made by our financial partners.
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The Nigerian Maritime Administration and Safety Agency, NIMASA has officially launched its 2025 Customer Service Week celebrations under the inspiring global theme, “Mission: Possible.”
The Agency is leveraging this annual celebration to reaffirm its commitment to transforming customer challenges into opportunities and consistently delivering exceptional service to grow the Nigerian Maritime sector.
In his remarks, the Director General/Chief Executive Officer (CEO) NIMASA, Dr. Dayo Mobereola, noted that effective service delivery remains central to the Agency’s mandate, stressing that excellence must begin internally before extending to external stakeholders.
“Providing service is paramount, both internally and externally. We must remain prepared, committed, and available to solve problems together as a team. Excellence in service delivery defines who we are and what we represent,” . Mobereola stated.
He highlighted teamwork, accountability, and continuous improvement as essential drivers of institutional growth and public confidence.
The Head, SERVICOM Unit, Hajiya Rakiyyah Lammai, appreciated the Director General for his continued support in strengthening customer service structures within NIMASA.
She noted that this year’s theme aptly reflects the dedication and resilience of the Agency’s staff in upholding service quality.
The 2025 Customer Service Week was commemorated across NIMASA offices nationwide with recognition programmes, engagement activities, and customer feedback sessions aimed at promoting a culture of responsiveness and efficiency.
As NIMASA continues to promote safety, security, and sustainability within Nigeria’s maritime domain, the 2025 Customer Service Week reinforces that service excellence remains the cornerstone of effective public service.
By: Nkpemenyie Mcdominic, Lagos
The Seme Area Command of the Nigeria Customs Service (NCS) has intercepted five trucks conveying 10,000 bags of expired flour valued at N1.2billion.
The Command Controller, Comptroller Wale Adenuga, who disclosed this during his Maiden Press Briefing, at the Seme Krake border, last Thursday, said the consignment, which originated from Egypt and came through the Benin Republic border, was seized in a joint operation with the National Agency for Food and Drug Administration and Control (NAFDAC).
According to him, the interception was achieved through credible intelligence shared by the Comptroller General of Customs, Adewale Adeniyi and the NAFDAC Director General, Moji Adeyeye.
Displaying the seized goods, Adenuga said the flour, produced in March 2024, had expired in November, 2024, posing serious public health risk.
He said, “If these things find their way into the country, they change the bag, and it goes into the markets… the health risks associated with consuming such expired products could have led to severe infections, food poisoning, and long-term health complications.
“Beyond health implications, such unwholesome goods undermine local industries and erode consumer trust.”
Speaking on the command’s revenue performance and strides in trade facilitation, Adenuga said a total of N1.5billion was generated in the month of September 2025 alone.
The figure, he said represent an exceptional increase of over 182% compared to the N531.4million generated in August 2025, the month before his assumption of duty.
“This outstanding performance
reflects the effectiveness of the Comptroller General’s reform agenda, which emphasizes compliance, transparency, and data-driven monitoring of goods, as well as dedication of officers and men who continue to embody his vision of a modern, efficient and accountable Customs Service,” he said.
Adenuga said the command guided by the Comptroller General of Customs commitment to transparency and modernization has intensified effort to simplify procedures and ensure that legitimate traders enjoy the full benefits of Customs modernization and regional integration along the Lagos–Abidjan corridor.
“Upon assumption of duty, and in line with the CGC’s strategic vision anchored on the policy thrust of Consolidation, Collaboration and Innovation, I declared trade facilitation as the hallmark of our administration. We believe that when trade is facilitated, processes are streamlined, costs are reduced and more revenue is generated, ” he said.
Beyond the expired flour, Adenuga also showcased other contraband goods seized by the command within the month of September.
The items include 1,104 parcels of cannabis sativa, 98 parcels of 120mg Tramadol, with two suspects handed over to the NDLEA, 2,043 bags of foreign parboiled rice, 150 bales of second-hand clothing and 169 bottles of DSP cough syrup with codeine and five used vehicles with a total Duty Paid Value at N1,999billion.
“Under the guidance of the CGC’s zero-tolerance stance on smuggling, Seme Command remains unwavering in its commitment to suppress smuggling and protect national security, public health and economic stability.
“Our position is clear along the Lagos-Abidjan that any economic resource diverted into smuggling will be a colossal waste; it will be better to channel such resources into legitimate business that could empower thousands of Small and Medium Scale Enterprises (SMEs) and create jobs, ” Adenuga said.
The Customs boss also commended the Nigerian Navy, particularly the Forward Operating Base ( FOB) in Badagry for its support in the fight against smuggling, and handing over seized foreign parboiled rice intercepted on the waterways.
“We shall continue to enhance our operational efficiency through technology, stakeholder collaboration and proactive intelligence. Our collective mission is to ensure that the Seme-Krake border remains a gateway of prosperity not criminality.
“Together with our partners and stakeholders, we are building a smarter, safer and more prosperous border corridor in full alignment with the CGC’s modernization blueprint, ” he said.
By: Nkpemenyie Mcdominic, Lagos
The Lagos State Government, through the Lagos State Waterways Authority (LASWA), will officially launch the Omi Eko Project on Friday, 17th October 2025, at Five Cowries Terminal, Falomo.
The unveiling, to be performed by the Lagos State Governor, Babajide Sanwo-Olu, would feature key speakers and virtual project presentation.
According to a Statement, the event highlights the state’s dedication to advancing sustainable water transportation and smart city solutions.
The project aims to transform Lagos’s water transit with over 78 electric ferries, digital systems, and enhanced safety features, reducing commute times and promoting eco-friendly travel.
“The Omi Eko Project is poised to revolutionize Lagos’s water transportation landscape by integrating innovative technology, strengthening terminal infrastructure, and championing environmental sustainability..
“With the deployment of over 78 high-capacity electric ferries, digital ticketing systems, intelligent terminals, and safety innovations, the project will significantly reduce commute times and establish a reliable, modern transportation option for millions.”the statement added.
The Five Cowries Terminal, a key transport hub, underscores the integration of land and water mobility in Lagos’s Urban Mobility Plan.e Hotel, GRA, Ikeja, for the maiden summit of JustAlive Communications Limited, publishers of JustNet News to discuss infrastructural development trends in the sector.
By: By: Nkpemenyie Mcdominic, Lagos
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