Business

GenCos Oppose Enugu’s Band A tariff cut to N160/kWh

In a statement issued on Monday by the Chief Executive Officer of the Association of Power Generation Companies, Joy Ogaji, the GenCos stated that the tariff revision sets a precedent for all other states and fails to reflect the true cost of electricity generation.

Published

11 months ago

July 21, 2025

OhiBaba

529 Views

Power generation companies (GenCos) have kicked against the Enugu Electricity Regulatory Commission’s new tariff order to MainPower Electricity Distribution Limited, which adjusted the electricity cost for Band A customers from N209 per kilowatt-hour to N160/kWh, effective August 1, 2025.

MainPower is the utility that succeeded Enugu Electricity Distribution Company after the state got the approval of the Nigerian Electricity Regulatory Commission to control its electricity market.

The new tariff was contained in the Enugu commission’s Order No. EERC/2025/003 entitled ‘Tariff Order for MainPower Electricity Distribution Limited 2025’, and was issued by the commission on Sunday.

It said “its decision was cost reflective, insisting that the tariff must reflect the power generation subsidy by the Federal Government for the benefit of electricity consumers.”

Related Topics:Enugu’s Band A tariff cut Featured GenCos

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Business

BUA Group Denies Reports of Bid to Acquire Stake in Kano Pillars Football Club

Published

4 hours ago

June 30, 2026

Charles Flames

22 Views

BUA Group has firmly dismissed online reports claiming that the conglomerate and its Chairman, Abdul Samad Rabiu, submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

In a press statement issued on Tuesday, the company described the publication as inaccurate and misleading.

PRESS STATEMENT

Re: False Claims of Bid to Acquire Stake in Kano Pillars Football Club

Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club.

We would like to clarify that this report is inaccurate and does not reflect any position, action, or communication from BUA Group or Abdul Samad Rabiu. No such bid has been made, and there has been no engagement with any party on this matter.

We kindly request that this report be disregarded, and we encourage the public and members of the press to rely only on official statements issued through BUA Group’s verified channels for accurate information regarding our activities.

We appreciate the continued interest in BUA Group and thank the public for their understanding.

BUA Group reiterated its commitment to transparency and urged stakeholders to verify information through its official communication channels.

Business

Nigeria’s oil minister orders marketers to reduce fuel price

“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.

Published

8 hours ago

June 30, 2026

OCHEFA

18 Views

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, at the NMDPRA General Counsel and Legal Advisers Forum, directed petroleum marketers to reduce fuel price .

At the two-day forum themed: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector, Lokpobiri noted that refiners and marketers have continued to sell petrol at elevated pump prices despite the significant decline in crude oil prices from a peak of $120 per barrel to about $72 per barrel last week.

He said: “Following de-escalation of tensions between Iran and the United States, we expected to see a commensurate downward adjustment in the prices of PMS and other petroleum products.However, that has not yet happened.”