Data obtained from the Nigerian Electricity Regulatory Commission (NERC) showed that electricity distribution companies (DisCos) earned a total of N801.16 billion from consumers between January and April 2026.

This was despite persistent power outages and supply constraints across the country.

The commercial performance factsheets released by the regulator showed that the 11 DisCos collected N204.74bn in January, N196.68bn in February, N196.13bn in March and N203.61bn in April, bringing total revenue for the four-month period to N801.16bn.

The collections came even as households and businesses endured months of unstable electricity supply caused largely by gas shortages that crippled power generation and forced widespread load shedding, especially in February and March.

In the NERC data, the DisCos billed customers N1.01tn between January and April but recovered N801.16bn, leaving about N207.77bn in uncollected revenue during the period.

The Bank of Industry (BOI) has appointed Kuramo Capital Management as the fund manager for the DICE Fund of Funds under the Federal Government’s Investment in Digital and Creative Enterprises (iDICE) Programme, in a move aimed at unlocking more capital for Nigeria’s technology and creative sectors.

The appointment, formalised at a contract signing ceremony in Abuja, marks a major milestone in the implementation of the iDICE Programme, which is designed to stimulate entrepreneurship, innovation, job creation and economic growth through targeted investments in high-growth enterprises.

The DICE Fund of Funds is expected to achieve a minimum capitalisation of $170.6 million, with the Federal Government providing an anchor investment of $85.3 million through the iDICE Programme.

Kuramo Capital has been tasked with raising an equivalent amount from private investors on a dollar-for-dollar basis, creating one of the largest government-backed venture capital initiatives in Africa.

The iDICE Programme is jointly financed by the African Development Bank, Agence Française de Développement and Islamic Development Bank.

It focuses on strengthening Nigeria’s digital economy and creative industries through skills development, access to finance and ecosystem support.

( DAILY TRUST)

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.