Business

For stable electricity, should Nigeria invite China to manage Power Sector for 20 years ?

Goje was reacting to the new Minister of Power, Joseph Olasunkanmi Tegbe ‘s comment that he cannot promise Nigerians uninterrupted electricity immediately but pledged to deliver noticeable improvements in the sector within a short period.

Published

4 months ago

May 8, 2026

OCHEFA

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Image: collage of power grid/ Minister of Power, Joseph Tegbe

Senator Muhammed Danjuma Goje thinks so.

Goje was a former minister of state for power and steel between 1999-2001; former governor of Gombe State 2003-2011, and now a senator representing Gombe Central.

He emphasised the need this week during the screening of minister -designates at the National Assembly.

Goje told fellow lawmakers that the federal government had better handover Nigeria’s power sector to China or another advanced country for 20 years to achieve stable electricity.

Addressing lawmakers, the minister-designate said he would rather focus on realistic and measurable progress than make promises he cannot keep.

“If I am confirmed, the Senate President, Distinguished Senators, I will not stand here and say tomorrow I will give you 24-hour electricity.

” But what I will tell you about the very honest approach, I will ensure that visible improvement is seen across the country in the shortest time possible. I will commit that we will replace uncertainties for Nigerians with clarity”,Tegbe said.

Tegbe identified distribution challenges as one of the major issues affecting the power sector, noting that inefficiencies remain across the electricity value chain.

Related Topics:Featured Nigeria's power sector

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Business

Meta set to charge WhatsApp Business messages from October 1

For example, a Nigerian fintech company sending 500,000 chargeable utility messages could incur about $5,050 in fees from Meta alone, excluding charges that may come from third-party providers or software platforms used to manage the messaging service.

Published

1 day ago

August 28, 2026

OCHEFA

19 Views

Businesses using Meta’s WhatsApp Business Platform will begin paying for certain messages sent to customers from October 1, 2026, under a new pricing structure announced by the company.

The change applies to organisations that use the WhatsApp Business Platform, formerly known as the WhatsApp Business API, to manage customer communication on a large scale.

Regular WhatsApp users and small businesses using the standard WhatsApp Business app are not the main targets of the new charges.

Under the revised system, the amount businesses pay will depend on the type of message being sent.

Utility messages, including payment alerts, order confirmations and other service-related updates, will cost about $0.0101 per message, while marketing messages will attract a higher fee of approximately $0.062 each.

Although the individual charges appear relatively small, companies that send large volumes of messages could see their communication expenses rise significantly.

Business

Dangote Refinery Suspends Petrol Sales To Lagos Depots

Dangote Refinery is prioritising markets where imported products are either unavailable or less dominant, rather than adding more supply to Lagos, which receives substantial volumes of imported petrol.

Published

1 day ago

August 28, 2026

OCHEFA

19 Views

Dangote Petroleum Refinery has suspended coastal sales of Premium Motor Spirit (PMS) to depot owners and importers in Lagos.

People familiar with the refinery’s operations said that the move is deliberate, aimed at redirecting locally refined petrol to areas where imported supply is scarce.

The suspension is ongoing. A source said: “The suspension of coastal sales to Lagos is still ongoing. It is aimed at redirecting products to locations where imported products are unavailable. Lagos has quite some imported petrol.”

The strategy is intended to ensure locally refined petrol reaches areas where it is most needed.

The decision comes amid concerns at the refinery over the volume of imported petrol entering Nigeria.

According to data available to the refinery, imported PMS accounted for about 43 per cent of total petrol supplied into Nigeria in July

Business

Naira Exchange Rates Friday, August 28

Today, the Naira Black Market exchange rate for 1 Great British Pound (GBP) is 1900 Naira. This means that you can get 1900 Naira for every 1 Pound that you exchange.

How much is 100 pounds in naira today?
At the current black market rate of 1900 per pound, 100 British Pounds = 190,000 Naira.