News
Reps increase Customs’ revenue target to N1.6tr
The House of Representatives yesterday increased the revenue target of the Nigeria Customs Service (NCS) from N1.4 trillion to N1.6 trillion as expected revenue for the 2021 fiscal year.
The House also approved about N257, 183, 671, 694. 71 as budget for the NCS for this year and another N216, 646, 579, 231. 00 as budget for the Federal Inland Revenue Service (FIRS) for the same period.
The House also approved the request from the president to borrow about $1.5 billion and Euro 995 million to finance projects under the 2021 budget.
Presenting the report of the House Committee on Customs and Excise for consideration on the floor of the House, Chairman of the Committee, Rep. Leke Abejide said the Committee consider initial target of ¦ N1.465 trillion given to the service as inadequate and as such increase it to N l.678 trillion based on the fact that the target for 2021 Fiscal year is less than N 1.562 trillion collected in by the service in 2020 despite the COVID-19 pandemic and He said the committee also considered the expanded excisable item to include carbonated drinks, reduction of levy on new vehicles and devaluation of naira that will increase volume of money collected in naira term during the year.
Also approved by the House was the seven per cent cost of collection for 2021 of N111,573,991,091.00.
They also approved that the service should keep two per cent of Value Added Tax (VAT) collected on behalf of the FIRS to be retained by the Customs and another N47,007,935,827.20 intervention Fund from the Comprehensive Import Supervision Scheme (CISS).
The Customs budget include Personnel Cost of N99,719,722,681.71, Overhead Cost of N19,530,769,000.00 and Capital expenditure N137,933,270,013.00.
The House asked the Central Bank of Nigeria (CBN) to, as matter of urgency, procure the four scanners for the NCS, the best scanners manufactures either from Germany or America but not China made scanners.
Also considering the report of the House Committee on Finance, the House approved N216, 646, 579, 231. 00 as budget for the FIRS for 2021.
The budget is made up of N107, 521, 496, 984. 00 for Personnel Cost, N56, 469, 218, 415 .00 for Over Head Cost, and N52, 655, 863, 832. 00 for Capital Project.
The House at plenary also approved request from the President for approval to borrow $1,500,000,000 and Euro 995,000,000.00 to Finance the Priority Projects of the Federal Government.
The Senate had earlier approved the request for the loan.
News
BREAKING: Tinubu Allegedly Shakes Up Cabinet, Removes Wale Edun, Ahmed Dangiwa
BREAKING: Tinubu Allegedly Shakes Up Cabinet, Removes Wale Edun, Ahmed Dangiwa
President Bola Ahmed Tinubu has reportedly approved a minor cabinet reshuffle involving key changes in the Federal Executive Council (FEC), including the removal of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, alongside the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa.
The development was said to have been contained in a memo signed by the Secretary to the Government of the Federation (SGF), Senator George Akume, directing immediate transition processes across the affected ministries.
Wale Edun, Dangiwa Relieved of Ministerial Duties
According to the reported directive, Wale Edun has been asked to hand over duties at the Ministry of Finance and Coordinating Minister of the Economy. Similarly, Arc. Ahmed Musa Dangiwa is to vacate his position as Minister of Housing and Urban Development.
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The memo reportedly instructed that all handover processes be concluded on or before close of business on Thursday, April 23, 2026, ensuring a smooth administrative transition within the affected ministries.
Succession Arrangements and Ministerial Changes
The document further stated that Mr. Taiwo Oyedele has been named as the incoming Minister of Finance and Coordinating Minister of the Economy, following Edun’s exit.
In the housing ministry, Dr. Muttaqha Rabe Darma has reportedly been nominated as Minister-designate for the Ministry of Housing and Urban Development, pending formal confirmation procedures. Until then, Dangiwa has been directed to hand over to the Minister of State within the ministry.
Presidency Explains Reason for Reshuffle
Explaining the development, SGF George Akume was quoted as saying the changes are aimed at improving cohesion, synergy in governance, and economic delivery under the administration’s Renewed Hope Agenda.
He added that President Tinubu acted within his constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended), emphasizing that cabinet adjustments remain part of ongoing efforts to improve governance efficiency.
Presidential Appreciation and Next Steps
The memo also reportedly conveyed President Tinubu’s appreciation to outgoing ministers for their service to the nation, while wishing them success in their future engagements. It further indicated that the President assured Nigerians and cabinet members that government reinvigoration efforts will continue periodically.
BREAKING: Tinubu Allegedly Shakes Up Cabinet, Removes Wale Edun, Ahmed Dangiwa
News
Power Firm to Hold Virtual Stakeholder Meeting on Rainy Season Electrical Safety
Power Firm to Hold Virtual Stakeholder Meeting on Rainy Season Electrical Safety
A power distribution company has announced plans to hold its April Virtual Stakeholder Engagement aimed at educating customers on safety measures during the rainy season.
In a notice issued to customers, the company said the virtual session would focus on the dangers associated with exposed electrical wires, flooded installations, and the increased risk of electric shock that often accompanies heavy rainfall.
The engagement, scheduled for Thursday, April 23, 2026, from 11:00 a.m. to 1:00 p.m., will be held via Microsoft Teams, allowing participants to join remotely.
According to the company, the initiative is part of efforts to promote public safety and reduce electricity-related accidents during the rainy season, when infrastructure is more vulnerable and risks are heightened.
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Beyond safety concerns, the session will also provide practical tips to help customers navigate the season safely, including guidance on energy efficiency to reduce consumption and costs.
The company further disclosed that it would share updates on its waste-management support initiatives targeted at public schools, as part of its broader corporate social responsibility programmes.
Customers and other stakeholders are encouraged to participate in the session to gain valuable insights and contribute to discussions aimed at improving safety and sustainability in communities.
The company reiterated its commitment to customer welfare, urging the public to remain vigilant and adhere to recommended safety practices during the rainy season.
Power Firm to Hold Virtual Stakeholder Meeting on Rainy Season Electrical Safety
News
NERC: Only 15 States Fully Regulating Electricity Markets Under New Law
NERC: Only 15 States Fully Regulating Electricity Markets Under New Law
Twenty-one states, including Rivers State and Kano State, have yet to assume full regulatory control of their electricity markets nearly three years after the enactment of the Electricity Act 2023, even as 15 states have successfully transitioned to independent electricity regulation under Nigeria’s decentralised power framework.
The Nigerian Electricity Regulatory Commission (NERC) confirmed that the 15 states that have completed the transition now operate their own electricity markets, handling tariff regulation, licensing, investment promotion, and consumer protection within their jurisdictions.
The reform is part of the broader implementation of the Electricity Act 2023, which decentralises Nigeria’s power sector by empowering states to regulate generation, transmission, and distribution within their territories after meeting legal and institutional requirements.
15 states now operating independent electricity markets
According to NERC, 15 states have fully completed the transition process and are now independently regulating their electricity sectors. These states include Enugu, Ekiti, Ondo, Imo, Oyo, Edo, Kogi, Lagos, Ogun, Niger, Plateau, Abia, Nasarawa, Anambra, and Bayelsa.
The commission explained that the transition began in October 2024 with Enugu and Ekiti, followed shortly by Ondo. The process gained momentum in 2025, with states such as Lagos, Oyo, Ogun, and Edo completing their transitions. More recent entries include Nasarawa, Anambra, and Bayelsa in early 2026.
Under the new structure, these states now oversee intrastate electricity regulation, including issuing licenses, enforcing technical standards, setting local tariffs, and protecting electricity consumers.
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21 states yet to complete transition
However, 21 states are yet to complete the process of taking over regulatory control of their electricity markets. These include Adamawa, Akwa Ibom, Bauchi, Benue, Borno, Cross River, Delta, Ebonyi, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kwara, Osun, Rivers, Sokoto, Taraba, Yobe, and Zamfara.
Energy experts say the delay could slow down the expected benefits of the Nigeria electricity sector reform, including improved power supply, localised tariff structures, and increased investment in mini-grids and embedded generation projects.
They also warn that uneven implementation could widen disparities in electricity access and investment across states.
What the Electricity Act 2023 provides
Under the Electricity Act 2023, once a state completes its transition, it establishes its own electricity regulatory commission responsible for overseeing all intra-state electricity operations.
The national regulator, NERC, retains oversight of interstate electricity trade and the national grid system.
State regulators are expected to drive local electricity market development by encouraging private investment, supporting renewable energy projects, and ensuring service quality standards across distribution networks.
However, NERC noted that some states that have declared transition still need to fully operationalise their regulatory institutions.
Federal government push for decentralisation
The Federal Government has repeatedly encouraged states to accelerate adoption of the reform, describing decentralisation as essential to solving Nigeria’s long-standing electricity challenges.
Minister of Power, Adebayo Adelabu, said Nigeria’s size and population make centralised electricity management ineffective.
He explained that the Electricity Act allows states to participate in all segments of the power sector value chain, including generation, transmission, distribution, and supporting services.
Adelabu also stressed the importance of collaboration between federal and state regulators to ensure alignment between wholesale and retail electricity markets.
He added that state participation is especially critical in off-grid electrification and rural power projects, where flexible local regulation can improve access and attract investment.
Outlook for Nigeria’s power reform
Stakeholders say the success of Nigeria’s electricity decentralisation reform will depend on how quickly the remaining 21 states establish functional regulatory frameworks and fully activate their electricity markets.
They warn that delays may limit investment inflows and slow down efforts to improve electricity supply reliability across the country.
Despite the uneven progress, the Electricity Act 2023 remains one of the most significant structural reforms in Nigeria’s power sector, aimed at creating a more competitive and efficient electricity market.
NERC: Only 15 States Fully Regulating Electricity Markets Under New Law
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