Business
PDP, Others Condemn Increase in Electricity Tariff as NERC Denies Increment
The Peoples Democratic Party (PDP) and other stakeholders have rejected the alleged rise in electricity tariff, even as the regulatory agency denied approving any increase.
There were reports at the weekend indicating that electricity consumers in the country would pay more tariff from April this year, based on a minor review of the Multi Year Tariff Order (MYTO) 2015 and the Minimum Remittance Order (MRO) for 2020 published by Nigerian Electricity Regulatory Commission (NERC).
NERC has the mandate to implement the Electric Power Sector Reform (EPSR) Act 2005, especially Section 32, which allows it to ensure prices charged by licensees (distribution companies) are fair to customers and sufficient to allow the licensees finance their activities and make reasonable profit for efficient operations.
In August last year, NERC published a minor review of tariff order indicating that from 2020 consumers would pay a maximum N14 addition for every kilowatt-hour of energy, depending on their status and their distribution companies.
While the increase was expected to start from this month, the new order has suspended the directive till April, stating that “the Federal Government’s updated Power Sector Recovery Programme (PSPRP) does not envisage an immediate increase in end-users tariffs until 1st April 2020 and a transition to full cost reflectivity by end of 2021.”
In its reaction yesterday, the PDP described the planned increase as draconian and completely against the interest and wellbeing of Nigerians.
The party charged the Federal Government to immediately rescind what it called “the obnoxious and provocative policy and consult further with Nigerians before any such tariff hike.” It also urged the National Assembly to rescue Nigerians from such a draconian policy by deploying its statutory legislative instruments to call the Federal Government to order in the interest of the nation.
The PDP, in a statement by its National Publicity Secretary, Kola Ologbondiyan, described the alleged increase in electricity tariff as an attempt to worsen “the fleecing of Nigerians, who are already overburdened and groaning under the weight of high costs, economic repression and heavy taxes foisted by the insensitive APC administration.”
According to the opposition party, “It is lamentable that Nigerians, who are already suffering the devastating negative impact of the recent increase in the Value Added Tax (VAT) from five per cent to 7.5 by the APC administration, are now being further suppressed with increased electricity tariff.
“Our party holds that the increase in electricity tariff, under the prevailing harsh economic conditions, is injurious to the wellbeing of Nigerians as it will further stress the productive sector and lead to an upsurge in the cost of regular and essential goods and services, including food, medicine, housing, education and other critical needs.”
It declared that “the APC policy, if allowed, will worsen the suffering of Nigerians as it will put more stress on already overburdened families, cripple businesses, result in job losses and exacerbate the prevailing frightening unemployment rate under the Buhari administration.”
The National Coordinator of the Human Rights Writers Association of Nigeria (HURIWA), Emmanuel Onwubiko and the National Media Affairs Director Miss Zainab Yusuf, said the focus of the Federal Government in the beginning phase of the year should not be to impose grave hardship on the populace just coming out of the seasonal festivities of Christmas and New Year but on how quality education could be delivered to millions of the children of Nigerian suffering families that would be returning to schools in the next few days.
“The government should be focused in this New Year on how to improve health care and on how to curb the internal corruption that has destroyed the so-called schools feeding programme instead of President Muhammadu Buhari working day and night to unleash devastating economic strangulation through unsustainable reviewed electricity power tariffs on millions of Nigerians most of whom are unemployed, hungry, sick and poor.
“The Buhari-led administration should be focused on restoring security of lives and property which is the primary duty of government and for which it has failed to discharge instead of rushing to introduce the wicked policy of electricity power hike in January of a fresh decade.”
But the Coordinator of Electricity Consumer Advocacy Network, AbdulHakim Balogun, said that the increase was expected, as provision had been made for such under the law. He, however, stated that the timing might not be appropriate, considering the state of the economy, increase in VAT and pressure on consumers’ disposable incomes.
The Director General of Lagos Chamber of Commerce and Industry (LCCI), Dr. Muda Yusuf, said the power sector problem was multifaceted, adding that the approach to addressing it should be holistic, otherwise the consumers would be vulnerable.
“The tariff question is no doubt one of the problems. But what is NERC doing about the issues of the capacity of the Discos, estimated billing, technical and commercial losses, metering problem, quality and adequacy of investment by the Discos, transmission, proposal on the decentralisation of the sector, promotion of off grid solutions and incentives for renewable energy solutions? All of these need to be addressed in order to inspire the confidence of consumers.
“NERC should protect the interests of consumers as well as those of the investors. There is also the social dimension of electricity provision to those at the bottom of the pyramid. It is also critical to disaggregate and interrogate the components of cost being claimed by the Discos. Already, many small businesses have complained about prohibitive tariffs by Discos following the last review. What is needed is a holistic reform rather than the simplistic solution of tariff review,” he stated.
But the regulatory agency, NERC, said it had not approved any tariff increase yet.
The General Manager, Public Affairs, Mr. Usman Arabi, made the clarification in a statement issued on the agency’s website and obtained by the News Agency of Nigeria (NAN) in Lagos yesterday.
Arabi said: “The attention of the NERC has been drawn to the publication in several electronic and print media that end-user electricity tariffs have been increased following the approval of the minor review (2016 – 2018) of the 2015 Multi Year Tariff Order on August 21, 2019.
“We wish to provide guidance that the minor review implemented by the commission was a retrospective adjustment of the tariff regime released in 2015.
“This is to account for changes in macro-economic indices for the years 2016, 2017 and 2018 thus providing certainty about revenue shortfall that may have arisen due to the differential between tariffs approved by the regulator and actual end-user tariffs.
“The commission therefore wishes to notify the general public that no tariff increase has been approved vide the order.”
He said, however, NERC, in the discharge of its statutory responsibilities enshrined under the Electric Power Sector Reform Act, would continue to undertake periodic reviews of electricity tariffs in accordance with the prevailing tariff methodology.
According to him, in all instances of such reviews and rule making, the commission will widely consult with stakeholders and a final decision will take due regard of all contributions.
The Guardian
One month after launching Season 5 of its flagship 5 for 5 Rewards campaign, Wema Bank has rewarded 273 customers with a total of ₦17.96 million, demonstrating the strong early impact of its refreshed customer rewards platform and reinforcing its commitment to rewarding everyday banking.
Launched on May 2, 2026, as part of the Bank’s 81st anniversary celebration, this season of the campaign introduced a more structured and inclusive rewards framework designed to encourage positive financial habits while recognising customer loyalty across the Youth, Women and Mass Market segments.
The season opened with a special anniversary activation at Ikeja City Mall, where 81 customers received ₦81,000 each, resulting in ₦6.56 million in rewards on launch day. Since then, the campaign has continued to reward customers through daily and monthly draws, with an additional 192 winners emerging within the first month.
Across the Youth segment, 37 students have received rewards worth ₦4.4 million, including 20 students who received ₦50,000 PocketMoni rewards and 17 university students who received ₦200,000 each in Tuition Support.
The Women segment also recorded strong participation, with 12 customers receiving ₦150,000 each through the #SelfCare category, while the Mass Market segment recorded the highest number of winners. Within the first month, 120 customers received daily cash rewards, and 23 customers won ₦200,000 each in the monthly draw, bringing total rewards in the category to ₦5.2 million.
Commenting on the campaign’s early impact, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said; “At Wema Bank, we believe loyalty should be rewarded in ways that are meaningful, transparent and accessible. The response to Season 5 of the 5 for 5 Rewards campaign has been encouraging, and seeing hundreds of customers benefit within just one month reinforces our belief that everyday banking should create everyday opportunities.
Beyond rewarding transactions, we are encouraging positive financial habits while delivering real value to our customers. He added; “This is only the beginning. With more reward categories, more winners and more opportunities still ahead, we remain committed to creating meaningful impact for our customers and ensuring more Nigerians experience the value of banking with Wema.”
Customers can participate by opening or reactivating a Wema Bank account, funding it with a minimum of ₦5,000, maintaining an average monthly balance of ₦5,000, and completing at least five transactions every month using the ALAT app, Wema or ALAT cards, or *945#.
With over ₦170 million earmarked for rewards between May and December 2026, thousands more customers are expected to benefit as the campaign continues, reaffirming Wema Bank’s commitment to rewarding loyalty, promoting positive financial behaviour and delivering value beyond banking.
In commemoration of World Environment Day 2026, the UBA Foundation, the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group, has reinforced its commitment to environmental sustainability through a tree-planting exercise at two of Lagos’ most historic educational institutions – King’s College, Lagos, and CMS Grammar School, Bariga.
The exercise marks the commencement of the Foundation’s 2026 Tree Planting for Sustainability Initiative, which is being implemented across selected schools in Nigeria to promote environmental consciousness among young people and encourage climate-positive action.
Observed annually on June 5 and coordinated by the United Nations, World Environment Day is the world’s leading platform for environmental awareness and advocacy. The 2026 theme, “Inspired by Nature. For Climate. For Our Future,” underscores the urgent need for collective action to address climate change and environmental degradation.
Speaking during the exercise at CMS Grammar School, Managing Director/CEO, UBA Foundation, Bola Atta, described the initiative as a strategic investment in the future.
“We want young people to understand that the environment needs our collective support and protection. Through initiatives like this, we are encouraging the next generation to embrace sustainable practices that will help create healthier communities and a better future for all,” she said.
Now in its fourth year, the Tree Planting for Sustainability Initiative is designed to instill environmental responsibility in students by integrating sustainability practices into school communities and empowering young people to become environmental ambassadors.
Atta explained that the choice of King’s College and CMS Grammar School was deliberate, reflecting both institutions’ rich heritage and their capacity to sustain the initiative over time.
“These are iconic institutions with deep historical significance. CMS Grammar School is Nigeria’s oldest secondary school, while King’s College has been shaping leaders for more than a century. We wanted schools where these trees will be nurtured and allowed to flourish for generations to come,” she noted.
The initiative comes at a time when rapid urbanisation has continued to reduce green spaces across many Nigerian cities, highlighting the need for sustained environmental restoration efforts.
“Over the years, development has often taken precedence over environmental preservation, leading to the loss of many trees and green areas. However, there is no better time than now to begin restoring our environment and making a lasting impact,” Atta added.
The exercise forms part of UBA Group’s broader commitment to Environmental, Social and Governance (ESG) principles.
Speaking at the event, UBA’s Group Chief Risk Officer, Awele Ajibola, emphasized the importance of proactive environmental stewardship in addressing climate-related risks.
“At UBA, initiatives like this demonstrate our commitment to the environment and the communities we serve. Climate change presents real and growing risks, and as a responsible financial institution, we recognise our role in driving positive environmental action and sustainable development,” Ajibola stated.
The tree-planting exercise is one of several activities being implemented by the Group to commemorate #WED2026. Other activities include UBA’s inauguration as a member of the Finance Taskforce for Plastic Action in Nigeria, Green Talk sessions with customers across branches, the launch of Sustainability Clubs in participating schools, environmental awareness campaigns across the Bank’s communication platforms, and a month-long Green Challenge designed to encourage environmentally responsible behaviour.
Commending the initiative, Principal of CMS Grammar School, Revd. Jacob Ayokunle Ogunyinka, described the exercise as a practical extension of environmental education.
“Our students learn about the importance of trees and environmental conservation in the classroom. Seeing these principles demonstrated in practice deepens their understanding and inspires greater responsibility towards protecting the environment,” he said.
Similarly, Principal of King’s College, Magaji Zachariah, expressed appreciation to UBA Foundation for selecting the institution as one of the beneficiaries of the programme and for investing in environmental education.
Beyond planting trees, the Foundation engaged students in discussions on environmental stewardship, encouraging responsible practices such as proper waste disposal, water conservation, recycling, and energy efficiency.
Referencing the famous words of Nobel Laureate and environmentalist Wangari Maathai, Atta reminded participants of the importance of immediate action: “The best time to plant a tree was twenty years ago. The second-best time is now.”
UBA Foundation is the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group. The Foundation is committed to the socio-economic development of communities across Africa through strategic interventions focused on education, environmental sustainability, economic empowerment, and special projects.
Determine to enrich the digital experience of its subscribers, Globacom has introduced a new data offer, tagged “More Data More Value only on Glo”. The new offer gives customers as much as 10 percent more data across its bundles as the Nigerian telecom landscape shifts toward a data-led economy.
Globacom explained in a statement that “The new offer is designed to ensure that every Naira spent by a Nigerian consumer yields the highest possible digital return”, thus reinforcing the company’s long-standing reputation for affordability and empowerment.
“More Data More Value” offers a variety of weekly and monthly options planned to balance daytime and night-time usage. The weekly plan includes ₦1,000 option which provides 3.7GB of total data, consisting of 1.7GB main data and 2GB night data, while that of ₦2,000 offers 9GB in total, divided into 6.5GB main data and 2.5GB night data.
The monthly plan also comes with different options including that of ₦1,500 which delivers a total of 5.2GB (2.2GB main data paired with 3GB night data); the ₦2,000 option offering 6.25GB data, a combination of 3.25GB main data and 3GB night data and16.5GB, comprising 14.5GB main data and 2GB night data which goes for N5,000. There is also the ₦10,000 and N15,000 options, with N10,000 providing 42GB total, 38GB main data and 4GB night data, while ₦15,000 offers 64GB in total, consisting of 62GB main data and 2GB night data.
Glo’s enhanced bundles provide the necessary incentive for students, remote workers, and entrepreneurs to browse longer, whether for TikTok trends, Instagram aesthetics, YouTube streaming, or high-stakes gaming and stream without fear, ensuring their professional and social lives remain uninterrupted.
These improved bundles from Globacom give entrepreneurs, remote workers, and students the incentive they need to browse longer, whether for high-stakes gaming, YouTube streaming, Instagram aesthetics, or TikTok trends, and stream on end, while ensuring seamlessness in their social and professional lives.
Beyond individual users, the “More Data More Value” offer also extend its benefits to families and SMEs. With the reliance of small businesses and households on mobile hotspots for their daily operations, Glo has optimized its offerings to serve as the preferred network for high-volume usage.
The offer also serves as a driver of digital transformation through the Glo Café app. Customers are encouraged to utilize the app for seamless bundle subscriptions, as it allows them to manage their “more than 10% extra” data with ease, thus ensuring rewarding user experience.
“More Data More Value” offer underscores Glo’s commitment to providing the best value-for-money which gives Nigerians the benefit of not compromising on their digital lifestyle.
