Business
NIPP Boosts Electricity By 1,150 Megawatts
About 1,150 megawatts have been added to the national grid from new power projects executed under the National Integrated Power Project (NIPP), the Niger Delta Power Holding Company (NDPHC) says.
Mr James Olotu, NDPHC’s Managing Director, made the disclosure on Sunday in Lagos in an interview with our correspondents.
He said out of the 10 newly-constructed power generation stations in the country, four stations had contributed a total of 1,150 megawatts to the national grid.
“We have 10 newly-constructed power generation stations in Nigeria. Out of these, four of them, located in Olorunsogo in Ogun, Omotosho in Ondo State, Sapele in Delta and Alaoji in Abia, have brought new units of power into the system.
“As of now, about 1,150 megawatts from these units have been thrown into the national grid,” Olotu said.
He said the inspection of some of the NIPP projects in the Eastern and Northern parts of the country, as well as Ibadan and other parts of the Western States, would soon commence.
“By next month, we will go to Ibadan and Benin and commission further projects and that will continue till December,” the NDPHC official disclosed.
He said that NDPHC gave some NIPP contractors a deadline to round up their projects in June and that they had complied with the directive.
The managing director said the NDPHC would no longer condone the culture of delaying projects by contractors.
“There is no particular favouritism in terms of emphasis to the project.
“I am happy to say that many of the contractors who were lagging behind have buckled up, because they know that the hammer would be on them.
“The days of unnecessary delays by contractors are over. Now, it is time for the delivery of projects, which is what we promised Nigerians,” Olotu said.
He also said the Power Holding Company of Nigeria (PHCN) had promised that between 300 and 500 millions of gas would be made available and dedicated to the NIPP power plants.
“If we get that, I believe we will get more power into the grid. Therefore, this intervention that we are looking at today is aimed at enhancing the efficiency of power delivery,” Olotu said.
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.
