Figures obtained on Monday from the Nigeria Electricity System Operator, an arm of the Federal Government’s power transmission company, showed that the national electricity grid actually crashed from a peak of 3,703 megawatts to as low as 9MW on Sunday.
Nigeria witnessed widespread blackout on Sunday after the national grid collapsed around 6.49pm, before engineers from the Transmission Company of Nigeria strived to ensure the recovery of the grid.
The PUNCH had reported on Monday that Sunday’s grid collapse was the fifth in 2022, a development that made many power distribution companies to shut down their various outgoing electricity feeders.
Data sourced from the NESO on Monday in Abuja, which showed the performance of the national grid on Sunday, indicated that the peak generation on Sunday of 3,703MW was recorded at 5am.
But this crashed to 9MW at 7pm on Sunday, according to the NESO, leading to the eventual collapse of the national grid.
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Various Discos including Enugu Electricity Distribution Company Plc, Abuja Electricity Distribution Company, Kaduna Electricity Distribution Company, among others, had confirmed the grid collapse in various messages on Sunday night.
Although no official statement from TCN as per the grid collapse yet, it was gathered that its restoration reached an advanced stage on Monday, as power generation rose to 2,744.6MW around 6am on Monday.
Nigeria’s power grid had collapsed twice in March and twice again in April this year. Power generation on the system had continued to fluctuate due to various concerns such as gas constraints, water management challenges, gas pipeline vandalism, among others.
Following the instability in Nigeria’s power supply, experts and consumer groups in the sector urged politicians to desist from generating political megawatts as they woo voters ahead of the 2023 general elections.
“Stop generating political megawatts. Stop generating electric power on the pages of newspapers and social media,” an industry expert, who doubles as President, Nigeria Consumer Protection Network, Kunle Olubiyo, stated.
He added, “‘I will increase power generation from 5,000MW to 30,000MW’. How do you intend to do that? Please let us know. Nigeria presently has grid sourced power generation capacity of 7,500MW, but only an average of 3,600MW gets to the end-users.
“We also have 14,500MW installed generation capacity that our national energy quantum could be ramped up. There is available power on the grid that is usually rejected by the 11 electricity distribution companies and TCN.”
“Yet the nation have been permanently configured into a vicious circle of distribution of darkness and perpetual energy crises due to gas constraints, market settlement crises, tariff and market shortfall, near-zero regulatory ecosystem, grid infrastructural limitations, technical deficits and broadly speaking – grid constraints.”
Olubiyi said why was it that since December 2021, the power supply situation in Nigeria had gone beyond comprehension and most embarrassingly unpleasant.
The consumer group president urged the presidential candidates of the frontline political parties to speak straight to the fundamental issues “and tell Nigerians how they will address the root causes of energy crises in Nigeria.”
“And not by making bogus promises and claims as per the electricity sector. We need to be informed in specific terms how they intend to address the challenges bedeviling the power sector.”
The spokesperson for the Electricity Consumers Association of Nigeria, Chijioke James, told The PUNCH that electricity consumers across the country were not happy with the low power supply.
“Of course, we are not satisfied. Consumers want to have a steady and reliable power supply. We have not seen a remarkable improvement in electricity supply across the country, and consumers are not satisfied”, he said
Dangote, Amosun disagree on Ogun cement factory demolition, Abiodun facilitates rebuilding
THE President of Dangote Industries, Alhaji Aliko Dangote, yesterday, alleged that his cement plant in Itori, Ewekoro local government area of Ogun State was demolished twice by the Governor Ibikunle Amosun administration, including the factory’s fencing during the second demolition.
However, in a swift reaction to the allegation, the former Ogun State governor said that Dangote does not possess requisite approvals for constructing the structures he alleged were demolished.
Speaking when he visited his new Cement factory located in Itori Ewekoro local government area of the state, Dangote commended Governor Dapo Abiodun for persuading him to return and resume construction of the plant, which is now nearing completion and expected to commence operations next year.
Dangote said: “I think it is good we have it on record that the (cement) factory we are visiting now in Itori, you know it was because of His Excellency (Dapo Abiodun) that we came back.
“That factory was demolished twice. We started, and Governor Amosun demolished it. The second time, we started again; he demolished not only the factory, including the fencing, so we left.
“But, right now, we are coming because of His Excellency my brother, Prince Dapo Abiodun. We are now back.”
He said the facility will feature two 6,000t/day clinker production lines, covering limestone crushing, cement packaging, and shipping, further solidifying Ogun State’s status as an industrial powerhouse.
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He said: “Dangote Cement is Africa’s leading cement producer with 52.0Mta capacity across the continent, of which almost 70% of our production is based in Nigeria. Our Obajana plant in Kogi State is currently the largest in Africa with 16.25Mta of capacity across five lines; the Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta; Gboko plant also in Benue state has 4Mta; and Okpella plant in Edo State has 3Mta. By the time we deliver Abidjan and Itori, we will be at 61mm tons per annum next year.
“It is on record that our investment in cement manufacturing made Nigeria self-sufficient in the product, effectively ending importation and marking its transformation into a cement exporting nation.
“We repeated the feat in the production of fertilizer as Nigeria is now self-sufficient, with the surplus going for the export market thereby generating foreign exchange earnings for the country.
“We rolled out automotive gas oil (AGO) in January 2024 and Premium Motor Spirit (PMS) in September 2024 from our 650,000 barrels per day petroleum refinery located in Ibeju-Lekki. Other products from the refinery include aviation fuels, LPG, and carbon black.
ABC Transport CNG trucks, cargo, others excite investors as stock rises 22%
ABC Transport Plc has experienced a significant increase in its stock performance with the company’s shares rising by 22% year-to-date, climbing from N1.23 at the start of January to N1.50 on March 11, 2025.
This has thus elevated the company’s market capitalization from N2.942 billion to N3.588 billion over the same period.
Analysts attribute this positive momentum to ABC Transport’s strategic diversification initiatives, notably its substantial investment in Compressed Natural Gas (CNG) trucks and the establishment of ABC Cargo Limited, a fully independent logistics division.
Over the past six months, ABC Transport has invested over N8 billion in acquiring CNG-powered and other specialized trucks, underscoring its commitment to sustainable and cost-effective transportation solutions.
This move not only reduces the company’s carbon footprint but also lowers operational costs by decreasing reliance on diesel fuel. The adoption of CNG technology represents a crucial step in ABC Transport’s sustainability journey, aligning with global environmental standards.
In a bid to diversify its service offerings, ABC Transport launched ABC Cargo Limited, an autonomous logistics division.
This new entity is poised to enhance the company’s market presence in the logistics sector, providing specialized services that cater to the evolving needs of clients across Nigeria and the West African region.
The company’s recent financial results have further bolstered investor confidence.
For the fiscal year ending December 31, 2024, ABC Transport reported a pre-tax profit of N634.7 million, a remarkable turnaround from the pre-tax loss of N260.1 million recorded in 2023.
Total revenue surged to N12.6 billion from N7.1 billion in the previous year, with significant contributions from loads and waybills (₦4 billion), sales of vehicle spares and speed governors (N2.8 billion), and haulage operations (N2.8 billion).
Speaking on these developments, the company’s Managing Director, Mr Jude Nneji, commended that the ABC’s leadership had also taken other strategic steps towards sustaining growth in these new segments.
For instance, he said it had invested heavily in a new maintenance facility in Calabar and also improved its driver training facilities.
These strategic initiatives and robust financial performance have positioned ABC Transport favorably in the market, reflecting a strong buy trend that commenced in 2024 and has persisted into 2025.
As the company continues to innovate and expand its operations, it remains a focal point for investors seeking sustainable and profitable opportunities in the transportation and logistics sector.
UBA, ICAN partner to drive innovation in finance, accounting
United Bank for Africa, UBA Plc, weekend, hosted the 60th president of the Institute of Chartered Accountants of Nigeria, ICAN, Chief Davidson C. S. Alaribe, in a meeting to foster collaboration and innovation between both institutions.
The meeting signalled a pivotal moment in the relationship between the two institutions, as they explored strategic partnerships to drive mutual growth and development in the financial and accounting sectors.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who welcomed the ICAN President and his high-profile delegation, expressed his enthusiasm for the partnership and assured that the bank was ready and willing to support the institution in its drive for excellence.
He said: “UBA is proud to be home to a significant number of ICAN members, whose expertise has been instrumental to our success as Africa’s global bank. This visit reaffirms our shared commitment to excellence and innovation.
“We are particularly excited about potential collaboration in the Graduate Management Accelerated Programme, GMAP, training initiatives, and other business opportunities that will create a win-win for both organisations.”
Alawuba, who was visibly excited at the corroboration between both organisations, said: “UBA is not just a financial powerhouse in Nigeria but a global leader with a strong presence across Africa and beyond.
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‘’ICAN recognises the immense value UBA brings to the table, and we are excited to explore opportunities for collaboration in areas such as capacity building, professional development, and business expansion. This partnership will undoubtedly benefit our members and the broader financial ecosystem.”
The discussions also focussed on several key areas of collaboration in capacity building, joint training programmes to enhance the skills of accounting professionals and UBA staff, collaborating on initiatives to promote ethical standards, financial literacy, and best practices in accounting and finance and setting up a branch of ICAN at UBA House.
This historic meeting marks a significant milestone in the relationship between UBA and ICAN, two institutions committed to driving excellence and innovation in the financial and accounting professions.
Both parties expressed optimism about the future and pledged to work closely to achieve their shared goals.
The Institute of Chartered Accountants of Nigeria, ICAN, is the leading professional accounting body in Nigeria, established to regulate the practice of accountancy and promote excellence in the profession.
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