Business

Siemens Shifts Completion of Nigeria’s 11,000MW project To 2030

Published

3 years ago

August 8, 2023

435 Views

Siemens Power, the German company behind Nigeria’s Presidential Power Initiative (PPI) says the deal to upgrade Nigeria’s grid would be completed in 2030, 5 years after the original due date.

This was disclosed by Oladayo Orolu, head of business development and government relations at Siemens Energy said in an interview with Bloomberg on Monday.

He blamed delays caused by the Covid-19 pandemic, which they say disrupted supply chains.

Orolu in the interview revealed that the rehabilitation and expansion of Nigeria’s electricity grid by 2025, will now only conclude the project in 2030, according to the report he said: “The three-phase project was set back by delays in starting the first phase.”

“When we conceptualized this project in 2018, our plan was within two years we should be done with phase one, but then Covid happened, disrupting supply chains, which meant getting raw materials took longer than before.”

They added that cost overruns also affected the project’s completion, as they expect electricity output to increase by an additional 2,000 megawatts at the completion of phase one by 2025, with the objective of phase one to quick fix projects that will free up 2,000 megawatts.

He said: “We currently have 5000, we are looking at taking that to 7,000,”

Business

Cybercriminals cloning DStv, other brands to steal bank accounts across Africa

According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.

Published

2 days ago

August 21, 2026

OCHEFA

26 Views

Cybercriminals are impersonating popular companies and government agencies across Africa in a campaign designed to take over smartphones and bank accounts.

More than 100 fake websites linked to the malware campaign have been identified since August 2025.

Brands including DStv, Takealot and South African Airways, as well as the South African Revenue Service (SARS), are being used to make fraudulent messages and websites appear legitimate.

The attacks are particularly concerning in South Africa, where Android dominates the mobile operating system market.

NordVPN said the attacks typically begin with social engineering, where criminals send convincing messages through SMS, WhatsApp or social media.

The messages may contain urgent offers or requests involving job opportunities, tax refunds, identity renewals or pension verification.

Victims are then directed to fake websites designed to closely resemble the official websites of trusted organisations.

The sites encourage users to download an Android application. Once installed, the malicious software can operate quietly in the background, including after the smartphone is restarted.

Business

Cement price hits N16,000 per bag

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

Published

2 days ago

August 21, 2026

OCHEFA

32 Views

• Chairman of BUA cement, Abdul Samad Rabiu (ASR)

Cement dealers across Nigeria have announced fresh price increases, with a 50kg bag now selling for as much as N16,000 in some markets, up from N13,000 recorded by buyers just days earlier.

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

By the third quarter of 2025, that had risen to about N9,000 before reaching the N12,000 to N16,000 range now seen across different locations.

Other building materials have followed a similar upward path. Blocks have climbed from around N600 to N1,100 each.

Sand has gone from N165,000 to N250,000 per 30 tonnes. Granite has risen from N530,000 to N780,000 per 30 tonnes.

Reinforcing steel now costs N1.15 million per tonne, up from N850,000.