Business
FG Wants 60% of Manufacturing Companies Back to National Grid – Adelabu
Adelabu anticipated that of the $32.8 billion funding, $17 billion is expected from the public sector, while about $15.8 billion will be contributed by the private sector.

The federal government is making frantic efforts to ensure the return of over 60 percent of manufacturing firms, which had exited the national grid.
The Minister of Power, Chief Adebayo Adelabu, disclosed yesterday, during the release of a National Integrated Electricity Policy (NIEP) to drive the transformation of Nigeria’s power industry.
At the event, Adelabu estimated that an investment of $32.8 billion is needed in the power sector between now and 2030 to enable the country to achieve universal electricity access.
Adelabu anticipated that of the $32.8 billion funding, $17 billion is expected from the public sector, while about $15.8 billion will be contributed by the private sector.
Adelabu emphasized that bringing back the exited manufacturing companies on the national grid is the only way the government can drive the kind of economic growth and national development that we had in mind at the beginning of this process.
“Today, more than 60 percent of our manufacturing industry is completely off-grid.
“They engage in self-generation, not because they are in rural areas or they are in semi-urban areas, they are in locations where there is access to electricity. But how reliable is this access? We all know that there are a lot of sensitive manufacturing processes that cannot tolerate a one-minute dip in the electricity supply.
“Instead of taking such a risk by connecting to a grid that is not reliable, these industries would rather go for self-generation. I will note the impact of this. It is not cheap.
It is very expensive.“Therefore, our products or commodities being turned out from these factories can never be competitive.
The only way we can allow this to contribute to economic growth, industrialization, and national development is to ensure that there is reliability in grid supply, so that all these companies that are currently off-grid can go back to the grid, and this will reduce their cost of production, it will reduce inflation, and our locally manufactured goods can now compete with imported goods.”
Describing power supply as a strategic driver sector for other critical sectors in the economy, the minister stated that President Bola Tinubu recognized that energy was not merely a commodity but the backbone of economic growth, job creation, industrialization, and national development.
He stressed that the new policy document had been submitted for the approval of the Federal Executive Council (FEC), explaining that by Monday next week, the document will be approved.
Describing power supply as strategic driver sector for other critical sectors in the economy, the minister stated that President Bola Tinubu recognised that energy was not merely a commodity, but the backbone of economic growth, job creation, industrialisation, and national development.
He stressed that the new policy document had been submitted for the approval of the Federal Executive Council (FEC), explaining that by Monday next week, the document will be approved.
Business
UAE Invests in $25bn African- Atlantic Gas Pipeline
The gas pipeline will connect Nigeria’s gas network with Morocco’s southern city of Dakhla and then go northward toward Europe.

•Gas pipelines
Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali, said that the UAE is now one of the supporters of the Nigeria to Morocco gas pipeline project, which is estimated to cost $25 billion.
“The project now called the “African-Atlantic Gas Pipeline”, has won the support of IDB, OPEC Fund, EIB and the UAE,” Benali told Nigerian lawmakers, this week.
Benali also said that Morocco has finished all the feasibility and engineering studies needed for the pipeline.
Moroccan industry experts said that the project has already passed the feasibility study and Front End Engineering Design stages.
The gas pipeline will connect Nigeria’s gas network with Morocco’s southern city of Dakhla and then go northward toward Europe.
The line will pass through 15 African countries, boosting trade, development, and access to electricity in the region.
In Phase One, it will link Morocco to gas fields near Senegal and Mauritania, and connect Ghana to the Ivory Coast.
Phase Two will link Nigeria to Ghana, while Phase Three will connect the Ivory Coast to Senegal.
Business
Exclusive: LAGRIDE Drivers Reject Monthly Salary Model For Drive-to-Own
CIG Motors has replaced the drive-to-own scheme with a salaried model, where drivers earn a fixed monthly salary of ₦150,000.

LagRide drivers are rejecting the new salary model introduced by Choice International Group (CIG), the distributor of GAC motors in Nigeria.
CIG Motors recently took over the full operational control of LagRide from the Lagos State Government, including the management of the vehicles and drivers.
LagRide, a ride-hailing service in Lagos, Nigeria, is owned and operated by a partnership between the Lagos State government and CIG Motors, since 2021, as an alternative to the rickety yellow and black-coloured taxis scattered across the city.
Ohibaba learned that, following the March 2025 full takeover, CIG had replaced the previous drive-to-own scheme with a salaried model for drivers.
Drive-to-Own Scheme:
The previous scheme allowed drivers to lease GAC vehicles through a down payment and daily installments.
Salaried Model:
CIG Motors has replaced the drive-to-own scheme with a salaried model, where drivers earn a fixed monthly salary of ₦150,000.
Some of the drivers who spoke with our Reporter are complaining that the monthly salary model isn’t favourable, and would likely switch to competitors, the likes of Bolt and Uber.
It was further gathered that the new management of LagRide has commenced retraining programmes for the drivers, batch by batch.
Meanwhile, the Lagos State government, led by Governor Babajide Sanwo-Olu, initiated LagRide as a solution to improve mobility and provide a multi-modal transportation system for Lagosians.
Purpose of LagRide:
LagRide aims to provide a more modern and reliable alternative to the traditional, often rickety, taxis that were previously prevalent in Lagos.
Business
DStv Subscription: Court dismisses MultiChoice suit against FCCPC

The Federal High Court in Abuja has dismissed a suit filed by MultiChoice Nigeria, the parent company of DStv and GOtv, challenging the Federal Competition and Consumer Protection Commission’s (FCCPC) intervention following a recent hike in subscription cost.
In the judgment, Justice James Omotoso ruled that the suit constituted an abuse of court process as similar proceedings were already pending elsewhere.
The judge stressed that MultiChoice should have pursued its arguments in that court. He said if that was done it would have rendered the suit at the Federal High Court procedurally inappropriate.
Justice Omotoso noted that while the Commission has investigative powers under its establishing Act, it, however, lacks the authority to fix or suspend prices unless as delegated by the President through a gazetted instrument. No such delegation was presented to the court.
“The power to fix prices is exclusively that of the President. Any decision taken without such delegation is a nullity,” the judge stated.
He added that because Nigeria operates a free market system, service providers like MultiChoice have the right to set their prices, with consumers free to accept or reject them.
The judge further ruled that FCCPC’s actions, including directing MultiChoice to suspend its price increase, is in breach of the company’s right to fair hearing and appeared selectively targeted.
He dismissed the FCCPC’s claim that MultiChoice held a dominant market position, calling the argument untenable.
“The use of services like those provided by the plaintiff is discretionary and not essential. Nigeria can do without it,” Justice Omotosho added.
The judge thereby warned that attempts to fix prices by regulatory bodies could scare off potential investors and harm the economy.
The court held that while the FCCPC may investigate market practices, it cannot impose price controls without proper legal backing.
MultiChoice had increased subscription rates by up to 25% on March 1, 2025, citing inflation and the attendant rose in operational cost.
Following public outcry, the FCCPC opposed the move, calling for regulatory review and threatening sanctions, prompting the lawsuit.
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