Major International Business Headlines Brief ::: 16 April 2025

[Bulls n Bears]

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Major International Business Headlines Brief :::  16 April 2025 

 


 


 


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ü  Nigeria: Solid Minerals - Senate Vows to Ensure Judicious Use of N1
Trillion Budget

ü  Act 2007, the Banks and Other Financial Institutions Act 2020, and rules
and regulations issued by CBN from time to time.

ü  Nigeria: Prices of Ginger, Garri, Others Push Rebased Inflation to 24.23%
in March

ü  Nigeria: 83 Firms Get Refining Licences As Petrol Imports Drop - NMDPRA

ü  Nigeria: Unemployment Fuelling Kidnapping, Militancy - Labour to Govt

ü  Nigeria: Trump's Tariffs, Global Oil Volatility Harming Nigeria's Economy
- NMDPRA

ü  Ethiopia: 'Made in Ethiopia' Street Race to Boost Local Sportswear
Industry

ü  Ethiopia's Effort to Export Value Added Coffee Should Be Intensified

ü  Nigeria: What President Tinubu Must Do to Grow Nigeria's Non-Oil Export
(3)

ü  Kenya: Ndindi Nyoro Breaks Ranks With Ruto, Warns of Looming Debt Crisis

ü  Nigeria: Reconstruction of Abuja-Kaduna Expressway Begins

ü  Lesotho Gives in, Approves Starlink Licence

ü  Nigeria: Deputy Governor Decries 'Crazy' Electricity Billing, Slams
DisCos

 


 <mailto:info at bulls.co.zw> 

 


 

 

Nigeria: Solid Minerals - Senate Vows to Ensure Judicious Use of N1 Trillion
Budget

The Chairman Senate Committee on Solid Minerals Development, Senator Ekong
Sampson, has said the 10th Senate will closely monitor to ensure the
judicious use of the N1 trillion earmarked in the 2025 budget to revive and
boost the solid minerals' sector.

 

Sampson, who represents Akwa Ibom South said this while on an oversight to
Mining Sites in Jos, Plateau State.

 

Sampson spoke through his deputy, Senator Mustapha Khabeeb, at the Palace of
the Gbong Gwom Jos, Da Jacob Gyang Buba, during a courtesy call on the
traditional ruler, according to a statement by the committee yesterday.

 

 

He expressed the determination of the 10th Senate to support President Bola
Ahmed Tinubu's administration's drive to revitalise the solid minerals'
sector in Nigeria to boost economic development.

 

He said Jos occupies a pride of place in the solid minerals' sector and
called on traditional rulers to check the activities unlicensed miners who
have been exploiting the sector at the expense of licenced operators.

 

He pledged the Senate's determination to assist the president in achieving
the objective.

 

On his part, the Gbong Gwom Jos, Da Jacob Gyang Buba, told the committee
that insecurity has continued to grow due to illegal mining activities.

 

He revealed that young Nigerians in the state were being killed in the
mining pits while institutions and other residential buildings were being
threatened due to devastating mining activities.

 

 

The traditional ruler noted sadly that the hike in foodstuffs in the state
was as a result of increasing illegal mining activities, and pointed out
that the decline in school enrollment in the state was also due to mining
activities.

 

The royal father revealed that, it was the reason, the Plateau State
Government activated the Executive Order 001, which has temporarily
suspended mining activities in the state.

 

He, however, revealed that some persons haven't stopped mining, in spite of
the order.

 

The Gbong Gwom Jos called on the Senate Committee to insist that the
Minister of Solid Mineral's Development to do the needful in regulating
mining activities in Nigeria.

 

Also, the Chairman, Mining Association of Nigeria, Plateau State Chapter,
Musa Paul Gindiri, urged the Nigerian Senate to prevail on the federal
government to relinquish powers of mining activities to state governments.

 

He also suggested the removal of mining from the exclusive list of the
federal government for flexibility.

 

Meanwhile, the Senator representing Borno South. Ali Ndume, has commended
the federal government's declaration of national emergency on food security.

 

Tinubu, who was represented by the Secretary to the Government of the
Federation, George Akume, made the declaration on Monday while opening the
6th African Regional Conference on Irrigation and Drainage in Abuja.

 

Tinubu had urged expanded irrigation infrastructure and participatory water
resource management nationwide.

 

He noted that the country had more than 3.1 million hectares of irrigable
land located around key river basins such as the Niger and Benue.

 

However, Ndume in a statement yesterday, declared that, "giving the needed
impetus to food production would go a long way in bringing down the prices
of farm produce in the market."

 

He also advocated for the creation of a Department of Government Efficiency
to be under the direct supervision of the Office of Secretary to the
Government of the Federation.

 

The lawmaker said such a new Department would ensure "that Ministries,
Department and Agencies (MDAs) comply with budget implementations to the
letter and promote positive government policies."

 

Ndume also called on State Governors to emulate the Governor of Borno State,
Prof. Babagana Umara Zulum, who has since declared state of emergency on
food security in Borno State.

 

Read the original article on This Day.

 

 

 

Act 2007, the Banks and Other Financial Institutions Act 2020, and rules and
regulations issued by CBN from time to time.

 

CBN warned that "failure to abide by these laws and regulations may be
grounds for revocation of your licence".

 

 

The central bank further stated that any adverse report on any of the board
members or management staff will invalidate his/her appointment and might
negatively affect the finance company.

 

The letter also stated that any false claim on the basis of which the
approval was granted will render the authorisation invalid.

 

CBN mandated the finance company to inform the bank of the date of
commencement of operations to enable the former to update its records
accordingly.

 

CBN added that the licence (certificate) for the finance company will be
issued in due course.

 

Commenting on the license approval, Managing Director/Chief Executive,
Ascensia Finance Company Limited, Mr. Jude Ezeamii, said the company will
bring succour to SMEs, local corporates and self-employed professionals, and
salaried employees in both the private and public sector.

 

Ezeamii said that would be achieved through creating workable access to
sustainable financing, which businesses required to meet their business
needs.

 

A seasoned banker with extensive retail and commercial banking experience,
Ezeamii assured that the company will redefine SME financing in the country
by leveraging technology to deploy financial services across the area
councils in Abuja, and major cities across Nigeria within the first two
years of operation.

 

The chairman of the company, Nelson Omanibe, said on commencement of
business the firm will roll out products and services that will support the
various initiatives of the current administration to boost the operations of
SMEs.

 

The company was also expected to leverage the expertise of its promoters to
boost small businesses, described as the engine room of the country's
economy.

 

Read the original article on This Day.

 

 

 

 

 

Nigeria: Prices of Ginger, Garri, Others Push Rebased Inflation to 24.23% in
March

Nigeria's headline inflation has increased to 24.23 per cent in March.

 

According to a report by the National Bureau of Statistics (NBS), the
increase was due to the rise in the average prices of ginger (fresh), garri
(yellow), broken rice (ofada), honey (natural production), crabs, potatoes,
plantain flour, periwinkle (unshelled), pepper (fresh).

 

The report noted that the figure was a 1.05 per cent marginal increase from
the 23.18 per cent recorded in February.

 

Daily Trust reports that this will be the first increase of the inflation
figure since the NBS rebased the Consumer Price Index (CPI) earlier in the
year.

 

 

The report said food inflation was 21.79 per cent on a year-on-year basis
but analysis on month-on-month indicated a 0.50 increase to 2.18 per cent
from 1.67 per cent recorded in February.

 

"Looking at the movement, the March 2025 headline inflation rate showed an
increase of 1.05% compared to the February 2025 headline inflation rate.
Furthermore, on a month-on-month basis, the headline inflation rate in March
2025 was 3.90%, which was 1.85% higher than the rate recorded in February
2025 (2.04%). This means that in March 2025, the rate of increase in the
average price level is higher than the rate of increase in the average price
level in February 2025," it said.

 

It explained that contributions of items on the divisional level are: food &
non-alcoholic beverages 9.28 per cent, restaurants and accommodation
services 2.99 per cent, transport 2.47 per cent, housing, water,
electricity, gas, and other fuels 1.95 per cent, education services 1.44 per
cent, health 1.40 per cent.

 

 

Food inflation highest in Oyo, Kaduna, Kebbi states

 

According to the report, the price of food commodities increased higher in
Oyo (34.41%), Kaduna (31.14%), and Kebbi (30.85%) states when compared with
the same month last year.

 

But Bayelsa (9.61%), Adamawa (12.41%), and Akwa Ibom (12.60%) recorded the
slowest rise during the same period.

 

On a month-on-month basis, food prices increased highest in Oyo (19.74%),
Kaduna (17.24%), and Kebbi (14.03%). Sokoto (-14.10%), Nasarawa (-9.91%) and
Edo (-5.78%) recorded a decline in food inflation on a month-on-month basis.

 

"All items inflation rate on a year-on-year basis was highest in Kaduna
(33.33%), Osun (32.08%), and Kebbi (30.74%), while Akwa Ibom (12.81%),
Bayelsa (14.02%), Sokoto (14.83%) recorded the lowest rise in Headline
inflation on year-on-year basis. On a month-on-month basis, however, March
2025 recorded the highest increases in Kaduna (18.85%), Osun (16.49%), Oyo
(14.44%), while Sokoto (-8.66%), Nasarawa (-4.38%) and Kwara (-3.69%)
recorded the lowest rise in month-on-month inflation. Food Inflation In
March 2025."

 

Inflation increasing due to instability in Nigeria's economy

 

Speaking with Daily Trust, Professor of Economics, Prof. Ndubisi Nwokoma,
said the increase could be linked to lack of stability in Nigeria's economy.

 

Prof. Nwokoma said this is evident in the fluctuation of exchange rate and
insecurity in rural areas that are the agricultural belt, warning that if
these problems are not addressed, rebasing would not bring down the
inflation figure.

 

"The exchange rate has not been stable in the past three months, we were
below N1,500 to a dollar in January but have moved to N1,500 and going to
N1,600. When this instability occurs in the currency rate it will definitely
affect other consumer goods and products.

 

"Inflation is still high because it is driven by other market indicators
like exchange rate, Also, we have increasing insecurity. We have seen
herders destroying crops to give their herds, thereby depriving farmers the
harvest to feed the populace.

 

So, if we don't protect our farmers and the farmlands there will be food
shortages when you don't have farmers protected. So, when you have all
these, inflation will go up no matter how much you rebase it," he said.

 

Read the original article on Daily Trust.

 

 

 

Nigeria: 83 Firms Get Refining Licences As Petrol Imports Drop - NMDPRA

The Chief Executive Officer of the Nigerian Midstream and Downstream
Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has disclosed that
the government has approved refining licenses to about 83 companies with a
combined total refining capacity of 1,124,500.

 

He explained that eight refineries have been issued Licenses to Operate
(LTO), 30 refineries with Licenses to Construct (LTC) and 40 refineries with
License to Establish (LTE).

 

Addressing a press conference at the Presidential Villa, Abuja, on Tuesday,
Ahmed said with the refineries, Nigeria has recorded a significant decline
in the importation of Premium Motor Spirit (PMS), as local refineries begin
to play a more active role in meeting domestic fuel demand.

 

 

The NMDPRA CEO said, the country's petrol imports dropped from 44.6 million
litres per day in August 2024 to just 14.7 million litres per day by April
13, 2025 - a reduction of nearly 30 million litres daily.

 

The agency attributed the sharp decline to increased production from
domestic refineries, particularly the gradual restart of the Port Harcourt
Refining Company and contributions from modular refinery operators.

 

He said the recent tariff imposition by the United States President Donald
Trump was responsible for the recent slump in global crude oil prices.

 

Ahmed warned that Trump's protectionist trade policies - particularly new
tariffs targeting key global economies - are fuelling uncertainty in
international oil markets, driving volatility and dampening investor
confidence.

 

Read the original article on Daily Trust.

 

 

 

 

Nigeria: Unemployment Fuelling Kidnapping, Militancy - Labour to Govt

Abuja — The Nigeria Labour Congress, NLC, said yesterday that militancy,
kidnapping and other social vices in the country would drastically reduce if
the federal and the sub-national governments create jobs for the citizenry.

 

It also advised that the government create sustainable and not casual jobs,
which pay would not sustain a worker for a month.

 

This is as the Vice President, Kashim Shettima, said President Bola Tinubu
was committed to fulfilling his administration's promise to build a Nigeria
where members of the workforce could attain their full potential.

 

 

Speaking at the official launch of the Labour Employment and Empowerment
Programme, LEEP, in Abuja, the NLC President, Joe Ajaero, said employment
remained the best way to cope with social crisis in the country.

 

While noting that people meaningfully engaged would not think of indulging
in social vices, Ajaero said: "I want to acknowledge the programme today
(yesterday), we in the labour movement identify with any programme that
enhances employment. And employment is the best way to cope with our social
crisis.

 

"People that are engaged, people that are working will not think of other
social crises. The level of militancy, kidnapping will be reduced to the
barest minimum if we create jobs. And that is why the labour movement
identifies with this.

 

"If this is properly implemented, Nigeria will be heaven of sort. And I want
to say, at any stage where the input of the labour movement is required,
where our assistance is required, we'll be there because it will benefit the
people of Nigeria.

 

 

"In the same vein, I pray that it will be a programme that will bring
sustainable jobs, not casual jobs, not jobs that the wages will not be able
to take you home."

 

While launching the LEEP initiative, the Vice President, Senator Kashim
Shettima, said the administration was up-skilling and re-skilling the
citizens to prepare them for both jobs that are available and those ahead.

 

He noted that the national initiative "is designed to expand employment
opportunities, equip Nigerians with critical skills, and drive economic
empowerment through innovation and technology.

 

"LEEP is the fulfilment of the promise made by President Bola Ahmed Tinubu
to build a national ecosystem where every Nigerian worker can reach his full
potential, and where technology enhances, not threatens our labour market."

 

 

Shettima observed that the government could not have boasted of investing in
the citizens unless it was committed to building a system that helped and
encouraged their search for work as well as equip them to grow on the job.

 

He stated: "The future of work in Nigeria is one that must compel us to
rethink the dynamics of a rapidly evolving world. Across continents, the
very idea of what constitutes a job is being redefined. Machines are
replacing hands. Artificial intelligence is challenging intellects.

 

"Traditional employment structures are giving way to fluid, digital
ecosystems. Yet, within this uncertainty lies a sea of opportunity, if only
we are bold enough to sail it."

 

On what the administration intended to achieve with the LEEP, Shettima said:
"The Labour Employment and Empowerment Programme, LEEP, is a well-considered
response to a pressing national need. As jobs become increasingly vulnerable
to technological disruption, our duty is not to lament but to prepare.

 

"LEEP aims to provide comprehensive training that equips our people with the
right skills to compete and contribute to today's global economy."

 

Earlier in his remarks, Governor Hope Uzodimma of Imo State pledged the
support and commitment of governors to the successful implementation of the
programme.

 

He said if the scheme was religiously implemented, the economy would be
significantly impacted through the reduction in unemployment and criminality
and productive engagement of the citizenry.

 

On her part, Minister of State for Labour and Employment, Mrs Onyejeocha,
said the programme was aimed at expanding access to sustainable employment
and stimulating vocational training, noting that the current unemployment
statistics were a clear and imminent danger for the country's future.

 

She explained that while LEEP was an institutional shift targeted at
enhancing training, upskilling and connecting Nigerians to sustainable jobs
across different sectors, it would require the collaboration of all
stakeholders for the scheme to be successful.

 

In his goodwill message, the Minister of Labour and Employment, Muhammad
Maigari Dingyadi, said unemployment was among the severe social problems
facing youths globally, either directly or remotely, with far-reaching
consequences that had multi-faceted implications that could not be ignored.
He said: "In Nigeria, this can be attributed to various reasons, which
include economic instability due to recessions and depressions, inadequate
quality education and training to match available jobs, as well as the
difficult circumstances that businesses operate in, which are not conducive
for creating new jobs."

 

In his remarks, the Director General of the National Directorate of
Employment, Mr Silas Agara, said LEEP was a bold step by the administration
of President Tinubu to decisively address the challenge of unemployment in
Nigeria and reposition employment in line with the Renewed Hope Agenda of
the administration.

 

He said LEEP was carefully articulated by the ministry of labour and
employment, in collaboration with its parastatals, to, among other goals,
equip young Nigerians with employability skills in the bid to create wealth
and contribute to the economic development of the country by creating 2.5
million jobs in two years.

 

The International Labour Organisation, ILO, Country Director for Nigeria,
Ghana, Sierra Leone, Liberia, and ECOWAS Liaison Office, Ms. Vanessa Phala,
described the programme as Nigeria's commitment to shaping the lives of its
youths.

 

"This marks a turning point for our youths to contribute to the growth and
development of this country," she said.

 

Read the original article on Vanguard.

 

 

 

 

Nigeria: Trump's Tariffs, Global Oil Volatility Harming Nigeria's Economy -
NMDPRA

Abuja — ·Says drop in prices good for consumers, hurting govt revenue·As PMS
import drops by/ 30m litres in/ 8/ months·11 licensed plants refining 1.12
million bpd

 

THE Chief Executive Officer, CEO, Nigerian Midstream and Downstream
Petroleum Regulatory Authority, NMDPRA, Farouk Ahmed, yesterday said that
the inconsistent tariff policies of the United States, President Donald
Trump, and the concomitant instability in global oil markets resulting to
the are negative impacting Nigeria's economy.

 

Briefing State House correspondents, when he was featured on
'Meet-the-Press' briefing series, a special programme organised by the
Presidential Media Team, at Aso Villa, Abuja, Ahmed said while the drop in
petroleum product prices may benefit consumers, the broader economic
consequences are severe for Nigeria, which heavily relies on oil exports.

 

 

He said that there is a sharp drop in prices from $73 to $60 per barrel in a
single day, as an example of how revenue inflows are being disrupted.

 

The NMDPRA boss also noted that domestic challenges, including pipeline
vandalism and reduced production, also contributed to compounding the
problem.

 

He said: "As consumers...we are happy that the price is coming down,
but...as a nation, it's not good for our economy because our revenue inflow
is also impacted.

 

"Most importantly, what is even destabilising the market is inconsistencies
in the way President Trump also sends his policies. He moves today.
Tomorrow, he reverses. So it's been challenging to predict the next level,"
Ahmed explained.

 

 

Recall that the Organisation of Petroleum and Exporting Countries, OPEC, had
recently issued reports indicating that Nigeria's oil output has fallen to
approximately 1.4 million barrels per day.

 

Besides, the situation has worsened as a result of President Trump's
aggressive trade policies, including sweeping tariffs on goods from several
nations, especially China, and threats of levies on other countries, have
injected uncertainty into global markets.

 

The NMDPRA CEO said: "Recently, as we all know, the global oil market, not
only oil market, but the global economy has been a bit volatile, in the
sense of the new American government's policy of tariffs, not only targeted
at China but the whole countries across the world.

 

"Investors and traders in not only the oil and gas industry but in general
economies of the world are moving left and right to the extent that some are
doing day trading. That means you do your trading today. You close by the
end of today because you never know what tomorrow's policy will drive the
market into.

 

"So the crude oil and petrol products market continues to have a downward
trajectory because of these inconsistencies and policies of the government
of United States, and the key aspect of it is the aspiration of the American
President to ensure that the crude oil pricing, or the crude oil price come
down to maybe below $50 a barrel, that's why he encourages more exploration
in his country."

 

Turning to the local implications, Ahmed acknowledged that while lower
product prices benefit Nigerian consumers, the overall impact on the economy
is negative.

 

"So how does it relate to our own local industry regarding crude oil
pricing, product pricing, demand and supply? We see a downward trajectory in
terms of product pricing and crude oil pricing.

 

"So we are happy as consumers of the derivatives of product pricing that the
price is coming down, but when you look at it globally as a nation, it's not
good for our economy because our revenue inflow is also impacted.

 

"If the crude oil price, like what happened some Fridays ago, where it
dropped in one day from about $73 a barrel to $60, you can see that in terms
of our crude oil production, our revenue is impacted severely," he added.

 

He urged stakeholders to prepare for prolonged uncertainty in the oil
sector.

 

According to him: "This volatility will continue because as recently as
yesterday, when President Trump again exempted some sectors from tariff,
particularly to China, like in terms of vehicular tariffing, you saw the
market again started to go up.

 

"So this is how it will continue to show, just to give you a general
perspective of the oil industry.

 

"We recently had a report from OPEC that Nigeria's production has come down
to about 1.4 million barrels a day.

 

If we lose the price by $10, you can see the negative impact on our economy,
national reserves, and the strength of our naira. Again, when you look at
the products market, we are happy to say, "Oh, the price is coming down."

 

Ahmed also stated that imports of Premium Motor Spirit, PMS, also known as
petrol have plunged from 44.6/ million/ litres a day in August/ 2024 to 14.7
millions per litre by 13/ April/ 2025.

 

He said that local supply rose 670 per cent within that period, adding that
after contributing virtually nothing in August, local plants delivered 26.2/
million litres per day in early April, a jump from the 3.4/ ml recorded in
September, the first month with measurable output.

 

He credited the surge to the phased restart of the Port/ Harcourt Refining
Company in late November and incremental volumes from modular refineries.

 

Despite the progress, combined supply crossed the government's 50/ ml/day
consumption benchmark only twice in the eight-month window--November (56/
ml) and February (52.3/ ml).

 

He said that it slipped in March just below target at 51.5/ ml, and in the
first half of April, it remained short at 40.9/ ml.

 

Figures from the NMDPRA also showed the balance among the three sources of
PMS --Oil Marketing Companies, Dangote Refinery and the Nigerian National
Petroleum Company Limited since last October.

 

OMCs raised average daily imports from about 22/ million/ litres in October/
2024 to roughly 30/ ML in December, settling in the mid 20s. They now
account for 55 60/ per cent of all petrol on most days.

 

Meanwhile, deliveries from the Dangote Petroleum Refinery and Petrochemicals
rose steadily from 10/ ML/day in October to around 22/ ML in January and
February before easing to 18/ ML by mid April/ 2025. The plant now meets
about two fifths of national demand. From 24/ ML/day in October, the NNPCL
volumes fell monthly, slipping to 1/ ML in January and zero recorded supply
after February, Ahmed revealed in his slide presentation.

 

The NMDPRA Chief argued that the Authority only grants import licenses
relative to the country's supply requirements.

 

On refining operations, he explained that six licensed private and four
public refineries currently produce 1.12 million barrels per day.

 

Six licensed private plants account for 679,500/ bpd of the total. The
Dangote single train complex refines 650,000/ bpd.

 

Read the original article on Vanguard.

 

 

 

 

Ethiopia: 'Made in Ethiopia' Street Race to Boost Local Sportswear Industry

ADDIS ABABA - The upcoming "Made in Ethiopia" 10 km street run is
strategically designed to promote the burgeoning local sportswear
manufacturing industry and showcase its growing production capabilities.

 

Organized by the Ministry of Industry, the "Made in Ethiopia Run 2025," a
10-kilometer road race, aims to champion domestically manufactured goods,
with a particular focus on sportswear and other industrial products.

 

In a statement released by the Ministry of Industry yesterday, the "Made in
Ethiopia" initiative will feature a 10-kilometer street run as a key
component of the "Let Ethiopia Produce" movement. This event seeks to
address challenges within the manufacturing sector and foster its overall
development.

 

 

During a recent press conference, the Ministry of Industry Public Relations
Head Abeba Tamene announced that this 10 km road race, now in its third
iteration, is expected to draw over 10,000 participants. This includes
athletes from various clubs as well as members of the general public.

 

She emphasized that this race distinguishes itself from other athletic
events. Rather than focusing on high prize money and the participation of
internationally renowned athletes, its primary goal is to demonstrate
Ethiopia's capacity to produce high-quality sportswear. The 10 km race on
April 27, 2017, at Meskel Square will feature competitors from regional
states, city administrations, and diverse sports clubs.

 

According to Abeba, this initiative is specifically geared towards tackling
the obstacles faced by local producers and actively promoting Ethiopian-made
industrial goods. It also aims to forge stronger connections between
manufacturers and promote locally produced sporting equipment.

 

The Ethiopian Athletics Federation Competition and Participation Director
Asfaw Dangne announced that 565 athletes from 34 clubs, representing both
genders, will participate in the competition.

 

He further stated that the event will provide a valuable platform for
athletes who may not have the opportunity to compete internationally.

 

The organizers have announced significant prizes for the top finishers:
300,000 Birr for 1st place, 200,000 Birr for 2nd place, and 100,000 Birr for
3rd place.

 

BY NAOL GIRMA

 

THE ETHIOPIAN HERALD WEDNESDAY 16 APRIL 2025

 

Read the original article on Ethiopian Herald.

 

 

 

 

Ethiopia's Effort to Export Value Added Coffee Should Be Intensified

Ethiopian coffee, which has achieved historical success in terms of
production, quality and revenue, is increasingly in demand in the domestic
and international markets. It is stimulating the country's export trade. In
particular, its competitiveness and demand at the international level have
increased significantly more than ever before.

 

The reform carried out in the sector has played a major role in the
significant changes that have occurred in the coffee sector. Many indicators
show that this reform work carried out in the coffee sector over the past
five years is achieving encouraging results. One of the main achievements is
increasing production and productivity; from the 833 thousand tons of coffee
production capacity in the last fiscal year, it has been possible to create
a capacity to produce 1.1 million tons of coffee, according to the Ethiopian
Coffee and Tea Authority.

 

 

In terms of coffee export revenue, it was also between 700 and 800 million
Dollars; since the reform efforts, this figure has climbed to a record level
of over 1.4 billion Dollars. This figure is expected to reach two billion
this year. Many projects are underway to double this income and earn between
2 and 4 billion Dollars from the export trade of raw coffee alone in the
coming years.

 

>From the previous situation of exporting less than 300,000 tons per year,
more than that amount has been exported in recent years; this year, data
indicates that efforts are being made to increase this figure to 450,000 to
500,000 tons.

 

However, it is always stated that Ethiopia, which introduced coffee to the
world, is not getting as much benefit from the sector as it should. One
reason for this is that the country supplies only raw coffee beans to the
world market.

 

 

Data indicate that many countries that buy Ethiopian coffee use the coffee
as a flavoring agent and mix it with other coffees and market it, thereby
benefiting more than the producing country.

 

The government always urges concerned actors to benefit from this market;
and some efforts are being made in this regard. In particular, various
efforts have been made by the Coffee Growers Exporters Association.
Following this, it is also stated that a situation has emerged in which
value added coffee has changed from its previous perspective. However, the
government has not gone far enough in terms of attention. Ethiopia currently
exports less than 1% of its total coffee exports as value added.

 

Kassahun Geleta, Chief Executive Officer of Market Development and Promotion
of the Ethiopian Coffee and Tea Authority, said that there are many
obstacles to supply value added coffee to the world market. However, efforts
are being made to overcome these obstacles.

 

"For this, maintaining the quality of raw coffee comes first," Kassahun
said. Thus, reforms have been carried out to ensure that the quality of
coffee supplied to the world market is maintained; an opportunity has been
created for exporters to prepare quality coffee and supply it to the world
market.

 

He pointed out that efforts are also being made in value addition, for
example, work has been done to make the legal frameworks more convenient.
Work has also been done for several times to create awareness about the
country's coffee by introducing it to guests and delegates who come to
Ethiopia.

 

He said, in this regard, preparation of different packages and presenting
roasted or roasted and ground coffee as gifts to guests is underway, so that
they can get to know the true taste of Ethiopian coffee. Since this is one
of the promotional methods, it has been possible to create an environment
where guests coming to Ethiopia can easily identify the taste of Ethiopian
coffee and show that it can be prepared with value addition. In this way, it
has been possible to convey the message that Ethiopia is not only a place of
coffee, but also a place where it can be prepared with value addition.

 

Such promotional work encourages foreign investors and creates an
opportunity for them to add value to coffee in Ethiopia, and to supply it to
the foreign market. In this regard, the government has now opened the door
for investors to export raw coffee from Ethiopia. This will encourage the
work being done on value addition.

 

Mentioning that the government has allowed foreign investors to participate
in coffee development, Kassahun said, in the past three years, a favorable
environment has been created for foreign investors who have registered a
capital of 10 million Dollars and above to engage in coffee from development
to marketing.

 

It is believed that it is more profitable to export not only coffee but also
any product with value addition than in raw form. Therefore, providing value
added Ethiopian coffee to the foreign market is more profitable and
preferable, and many works are being done in this regard.

 

Although encouraging works have been done so far, many challenges are being
faced, Kassahun said, noting that although the results of supplying coffee
with value addition to the market are clear, it is a challenge to compete
with developed countries. Since the countries know only raw Ethiopian
coffee, they only want to buy raw coffee beans. Therefore, the international
market has become the biggest bottleneck.

 

He mentioned that domestic investors are facing problems in domestic
bureaucracy in addition to the international market; however, the domestic
bureaucracy has now been able to be solved.

 

As he explained, foreign companies that buy raw Ethiopian coffee are
increasingly benefiting from adding value to it, and blending it with other
coffees and exporting it to other countries. Therefore, they do not want to
miss out on this benefit; they are not interested in buying value added
Ethiopian coffee.

 

According to him, although the biggest problem in exporting value added
coffee is the international market, efforts are being made, believing that
results will be achieved in the process. One of the efforts is to find new
markets; for example, to enter new market destinations such as China and
introducing it to other countries.

 

Currently, there are about 100 companies that export value added coffee.
However, since large companies have already entered the international
market, their brands are well-known and in demand, it is difficult to break
into the market. Although the problem is widespread and global, efforts are
underway believing that it can be solved with much effort.

 

According to him, Ethiopian consulates in each country are working to
promote value added Ethiopian coffee in addition to raw beans. Government
officials are also working to promote value added Ethiopian coffee by
presenting it as a gift to high-ranking officials when they go abroad; such
efforts should be strengthened.

 

Believing extensive work should be done on value addition, Kassahun
mentioned that in 2023/24, 500 tons of value added coffee was exported,
earning USD 4.2 million. This is not significant compared to the amount of
coffee exported, but the beginning is encouraging. In order for the
beginning to be sustainable, it is necessary to provide quality and
standardized products to the world market.

 

Kassahun further said that if value added coffee can be prepared in a
quality manner that is in line with the needs of the international market,
it will be easy to find the market; he also pointed out that it is possible
to benefit from preparing it with quality starting from the packaging. It is
necessary and appropriate to provide various supports and incentives for
this and incentives and supports are being provided to exporters engaged in
value addition.

 

Among the supports is provision of rapid certification for exporters who are
ready to export value added coffee. There are also works to monitor and
resolve problems encountered in the export process through daily
communication with experts.

 

Kassahun said that Ethiopia needs to be competitive in the international
market with value added coffee, beyond its raw coffee, which is known for
its high-quality; the work that has been started for this is encouraging.

 

By being accessible to African countries that are importing value added
coffee from Colombia, Brazil and other countries, the market can be
accessible. If this is implemented, Ethiopia can have a positive impact on
the economy by generating more income than it is earning from raw coffee, he
said.

 

In the coffee sector, there have been significant changes in the amount of
coffee exported, the export of specialty coffee, and the earning of foreign
exchange. In this regard, the government and the private sector need to be
actively involved in the process of providing value added coffee to the
foreign market in the desired manner.

 

It is necessary to address the challenges of the sector in the country while
paying attention and providing high-quality coffee to the foreign market,
and to work hard for international competitiveness. "We should work
diligently on this issue, just as we can achieve results by solving other
problems in the sector," he stressed.

 

BY BACHA ZEWDIE

 

THE ETHIOPIAN HERALD WEDNESDAY 16 APRIL 2025

 

Read the original article on Ethiopian Herald.

 

 

 

Nigeria: What President Tinubu Must Do to Grow Nigeria's Non-Oil Export (3)

The government needs to implement a policy to ensure all intending exporters
are made ready through export readiness assessments and capacity-building
programmes to bridge the gaps in their operations.

 

The place of promotion

 

This is the third in the series of articles being written to advise the
President of the Federal Republic of Nigeria on what must be done in order
to grow the non-export volume to match and even surpass that of crude oil
and gas exports. The focus of this article has to do with policies the
government must implement to support the promotion of Nigerian products in
the export market. The policies relating to the aggressive promotion of
non-oil exports are aimed at growing non-oil exports through the creation of
demand for Nigerian products. This involves the creation of awareness about
the exportable products of Nigeria in various export markets around the
world.

 

 

Since the government cannot promote each and every product that is currently
being exported from Nigeria, then the selection of items to be targeted by
the export promotion policy of the government should be based on the impact
of the increased export of these products, job creation, poverty
eradication, reduced inequality, forex exchange inflow and the growth of
gross domestic products in the domestic market. The recommended criteria for
selecting the products to be considered in the export promotional policy of
the government should include:

 

Market Demand: Products with high demand in international markets are
preferred to ensure export success.

Competitive Advantage: Products in which Nigeria has a competitive advantage
or unique selling points compared to other countries.

Quality Standards: Products that meet international quality standards to
ensure acceptance in target markets.

Sustainability: Products that can be produced sustainably without harming
the environment or depleting natural resources.

Value Addition: Products that have the potential for value addition through
processing or packaging to increase their export value.

Market Access: Products that have the potential to access key export markets
and comply with trade regulations.

 

The question, therefore, is which of the items produced in Nigeria meet
these criteria? There is no need to reinvent the wheel because the product
Nigerian Export Promotion Council (NEPC), in its Zero Oil Plan, already used
some of these criteria to identify the products that Nigeria should
aggressively promote for export in order to grow its export volume. The aim
of this plan is to diversify Nigeria's economy away from oil by promoting
non-oil products for export. The NEPC identified 22 priority products and
divided them into two categories as listed below:

 

Category A: Petrochemicals & Methanol, Soybean, Sugar, Cotton & Yarn,
Nitrogenous Fertilizer & Ammonia, Palm Oil, Rice, Rubber, Hides and Leather,
Cocoa and Gold.

 

Category B: Cement and Clinkers, Tomato (fresh and partly processed), Banana
& Plantain, Oranges, Cashew, Cassava, Sesame, Spices, Ginger, Shea Butter
and Cowpea.

 

After deciding on the product to be promoted in the export market, other
important considerations in the government policy on export promotion
include market research, trade agreements, export incentives, infrastructure
development, export financing, quality standards and certification, market
access assistance, and capability building on export readiness.

 

Market Research: Understanding the market dynamics in the export markets is
crucial for developing effective export promotion strategies. Therefore, the
government's export promotional policy must include conducting thorough
market research to identify target markets for the selected products,
consumer preferences in the market, trends in demands, and current and
potential competitors.

 

Trade Agreements: Leveraging free trade agreements is very important for any
country that wants to grow its trade volume. Therefore the government needs
to consider existing trade agreements and partnerships that can facilitate
access to international markets. This means negotiating favourable trade
deals to reduce trade barriers and promote exports to the major markets of
the selected products.

 

Export Incentives: Since the country is in dire need of export in order to
generate foreign exchange, there is a need to encourage different businesses
to consider investment in the non-oil export sector. The proposed incentives
can be both pre and post-export in its implementation. It should be designed
in such a manner that the pre-export incentive reduces the cost of capacity
building and mentoring programmes for export readiness, while the
post-export incentives should involve giving a grant to the exporter based
on the value of the shipment.

 

Infrastructure Development: In order to make the item of export competitive,
it is important to reduce the cost of doing business. This can be achieved
by building both hard and soft infrastructure that reduces the cost of
exportation. The hard infrastructure includes building infrastructure that
facilitates rail transportation, good roads to increase the speed of
delivery, and power to reduce the cost of production. The soft
infrastructure includes the deployment of applications (single window for
trade) that fully automate and streamline the export process and
documentation

 

Export Financing: To significantly grow any nation's non-export volume,
there is a great need for a policy that boosts the funding capacity of
export credit agencies. This would enable them to provide trade finance
instruments (like export credit guarantee and export credit insurance) to
support export transactions and deploy single-digit export financing to
boost the trade volume of exporters.

 

Quality Standards and Certification: One of the major challenges confronting
the growth of non-oil export in Nigeria is the issue of rejection at the
destination port due to the low quality of the item of export. The
government needs to put an end to this menace to grow the non-oil export
volume. In order to do this, there must be a policy in place that sets a
minimum standard for any item of shipment, particularly agricultural
commodities, and the policy must also mandate customs to ensure that no
product with low-quality specifications is allowed for shipment out of any
port in Nigeria.

 

Market Access Assistance: One of the reasons many exporters are able to do a
few shipments every year is that they have access to only a few buyers in
the export market. This also explains the reason why many intending
exporters find it difficult to start a business. This, therefore, makes it
very imperative for the government to implement policies that complement the
efforts of businesses that want to gain access to different export markets
around the world.

 

Capability Building on Export Readiness: Export readiness is a multifaceted
concept that involves the ability of a company to successfully enter the
export market, sustainably compete in the market and significantly grow its
market share until it becomes established in the market. To grow the non-oil
export volume, the government needs to implement a policy that ensures that
all intending exporters are made ready through export readiness assessment
and capacity-building programmes to bridge the gaps revealed by the outcome
of the assessment.

 

Finally, I strongly believe that if the policies suggested in this write-up
are considered with necessary modifications and implementation, it will help
the respective government agencies achieve the objective of growing the
non-oil export sector to become a major foreign exchange earner for the
country.

 

Bamidele Ayemibo is the chief executive officer at 3TImpex Trade Consulting

 

Read the original article on Premium Times.

 

 

 

Kenya: Ndindi Nyoro Breaks Ranks With Ruto, Warns of Looming Debt Crisis

Nairobi — Kiharu Member of Parliament Ndindi Nyoro has issued a stark
warning over Kenya's ballooning debt, cautioning that the country risks
joining Africa's growing list of defaulters.

 

Nyoro said the public debt--now estimated at Sh11 trillion--is spiralling
out of control, and any move to renegotiate it could trigger even worse
economic fallout.

 

"The country is edging dangerously close to default," Nyoro said at the
Institute of Public Finance annual budget review, adding that ongoing debt
restructuring talks, including a planned visit to China by President William
Ruto, signal just how fragile the situation has become. "Any indication that
we are unable to service our loans is more catastrophic to our economy."

 

 

The outspoken MP, once a key ally of President Ruto and seen as his
blue-eyed boy after the 2022 campaign, has increasingly distanced himself
from the government.

 

His fallout with the president became apparent late last year when he
refused to back the impeachment of Deputy President Rigathi Gachagua--now
one of Ruto's fiercest critic.

 

Shortly after, Nyoro was removed as chairman of the influential Budget and
Appropriations Committee.

 

The former chair said Kenya's debt has grown from under Sh2 trillion to Sh11
trillion over the past 12 years.

 

Under President Ruto's administration alone, the debt has surged by more
than Sh2 trillion, rising from Sh8.7 trillion to Sh10.9 trillion as of
December 2024, according to Central Bank data. Local lenders account for 54
percent of this debt, while 46 percent is owed externally.

 

As the Treasury prepares the 2025/2026 budget--with projected spending of
Ksh.4.2 trillion--Nyoro warned that debt servicing will consume nearly a
quarter of that amount. Interest payments alone are expected to cost the
country about Ksh.1 trillion, with Ksh.750 billion set aside for domestic
debt and Ksh.200 billion for external repayment.

 

Nyoro also criticized the government's aggressive tax regime, saying it has
backfired on the economy. "Increasing taxes to get more revenue is a
fallacy," he said. "You end up distorting economic decisions. People stop
spending and investing--and that means even the little revenue you hoped to
raise never materializes."

 

The remarks expose a deepening rift between the MP and the president, a
dramatic shift from 2022 when Nyoro was one of Ruto's most visible
campaigners in the vote-rich Central Kenya region.

 

Now, as economic pressures mount, Nyoro has re-emerged as a vocal critic of
the administration he once championed, joing the voices of dissent from Mt
Kenya and other parts of the country.

 

Read the original article on Capital FM.

 

 

 

Nigeria: Reconstruction of Abuja-Kaduna Expressway Begins

The reconstruction of the Abuja-Kaduna-Zaria-Kano Expressway, Section I
(Abuja - Kaduna) began on Sunday with a flag-off by the Kaduna State
Governor, Uba Sani, who represented President Bola Tinubu.

 

The contract for the reconstruction of this road, which is vital to the
socio-economic life of Northern Nigeria, was awarded at N777 billion,
According to a statement by Mohammed A Ahmed,

 

Director, Press and Public Relations.

 

Speaking at the event, which took place at Jere in Kagarko Local Government
Area on Sunday, 13th April, 2025, the governor noted that the road had
suffered neglect for several years, costing lives, hardship and stunting
economic growth.

 

 

He described the road as the busiest in the North and second busiest in
Nigeria, after the Lagos-Ibadan Expressway, lamenting that the people
watched, helplessly, as its condition worsened over the years. He added that
the road is a major artery linking the Federal Capital Territory to over 12
states, across the North Central, North West, and North East geopolitical
zones.

 

"The reconstruction of this road will undoubtedly bring much-needed relief
and development to our communities. It will create job opportunities and
boost security, transforming the socio-economic and political landscape of
the region," he further explained.

 

Uba recalled that as a Senator, he had pushed for the road's completion, by
mobilising fellow lawmakers, organising several Town Hall Meetings, and
engaging directly with the then President.

 

"In response to the cries of our citizens and travelers, enduring hardship
on this failed portion of the road, I visited our dear leader and President,
Sen. Bola Ahmed Tinubu to brief him. Mr. President not only gave me a
listening ear, he gave the Minister of Works marching orders to ensure the
project takes off without any delay," he said.

 

 

According to him, one of the reasons that the former contractor gave for not
completing the project, apart from funding, was the insecurity that was
prevailing along the corridor at that time.

 

Governor Uba Sani noted that the non-kinetic approach to tackling insecurity
is bearing fruits as motorists can now ply the road at any time of the day
or night without the fear of being attacked, kidnapped or killed.

 

He commended the National Security Adviser (NSA), Malam Nuhu Ribadu for
stabilising the security situation along the route through the effective
coordination of security agencies and the implementation of the Kaduna Peace
Model.

 

The Governor also disclosed that Mr. President has directed all stakeholders
to expedite work on other major federal road projects, including the
long-delayed Eastern and Western Bypasses in Kaduna town.

 

Speaking at the event, the Minister of Works, David Umahi, assured Nigerians
that the 700-kilometre Expressway would be completed within fourteen (14)
months with continuous reinforced concrete-pavement (CRCP).

 

According to him, the road's standard will be like that of Lagos-Calabar
Coastal Highway, and the President has added 11 kilometres to the 280
kilometres at the end of the Zaria-Kano Section, extending to the Malam
Aminu Kano International Airport (MAKIA).

 

He revealed that after terminating the contract with Julius Berger (Nig.)
PLC, the project had been re-awarded to a new firm with a proven track
record that has been "tested and proven to be competent to do the job. I
have no regrets about awarding them this job."

 

Engr. Umahi also disclosed that the President has directed that the
reconstructed highway will have solar-powered lighting and Close Circuit TV
surveillance, "throughout its stretch."

 

The Minister further stated that President Tinubu has "awarded the
completion of remaining portions of Sections I and III, a total of 118
kilometres for a total sum of N252 billion, adding that "30% of this amount
has been paid to the contracting firm. "Today, we are also flagging Section
II, which is 82 kilometres by two, that is 164 kilometers at a total cost of
N525 billion," he said.

 

"In the past, we have been building roads, but today, President Bola Ahmed
Tinubu, GCFR is constructing roads that will last between 50 to 100 years,"
he emphasised.

 

He commended Governor Uba Sani for his relentless efforts towards ensuring
that the project took off, describing him as "a smart Governor, who has
united the people of Kaduna behind the President and the APC."

 

Also, in his remarks, the Honourable Minister of State for Works, Bello
Muhammad Goronyo, Esq. appreciated President Tinubu for his people-oriented
leadership and infrastructural interventions across the length and breadth
of the country. "We see your numerous achievements, especially
infrastructure from Illela -Sokoto to Lagos-Badagry. You have redefined road
construction in Nigeria through the adoption of reinforced concrete
pavement, a bold shift from the old asphaltic model" he said.

 

Also, speaking on behalf of the Permanent Secretary, Federal Ministry of
Works, Engr Olufunsho O. Adebiyi, the Director, Highways, Construction and
Rehabilitation, Engr. Clement Ogbuagu drummed up the importance of
collective support from all the stakeholders, including those on the
corridor of the road to appreciate the Federal Government's efforts on the
infrastructural interventions."Your experience, passion, and collaboration
will be instrumental in driving this project forward, as the Government
determines the well-being of its citizens. He urged the Company handling the
project to remain focused on the mandate and make it a resounding success,"
he added.

 

Also speaking at the event, the former Senator, of Kaduna South,
Distinguished Senator Danjuma La'al, commended the Federal Government's
efforts at infrastructural development in the State.

 

Read the original article on This Day.

 

 

 

 

Lesotho Gives in, Approves Starlink Licence

The Lesotho Communications Authority has approved Starlink's application to
provide satellite internet services.

The announcement comes in the middle of uncertainty about the tariffs to be
imposed on the country by US President Donald Trump.

Civic organisation Section Two says this is a "sell-out".

 

Lesotho has succumbed to pressure and granted a ten-year licence to Starlink
Lesotho, a subsidiary of Elon Musk's SpaceX, to operate a satellite internet
network in Lesotho. This follows an announcement by Prime Minister Samuel
Matekane earlier this month that his government would remove barriers to US
investment, in the midst of a tariff onslaught.

 

On 2 April, US President Donald Trump imposed a 50% tariff on imports from
Lesotho -- the highest among all affected countries -- threatening up to
12,000 jobs in factories that export to the US under the African Growth and
Opportunity Act (AGOA). He later paused the 50% tariff for 90 days. But this
still leaves in place a 10% tariff that came into effect on 5 April.

 

 

The Lesotho Communications Authority (LCA) announced on Monday that its
board of directors had approved Starlink's application to provide satellite
internet services across the country.

 

The LCA said this was a milestone in Lesotho's digital transformation and a
commitment to building a competitive, transparent, and innovative
communications sector. "The approval of the operating licence clears the
path for the Authority to finalise the terms and conditions under which
Starlink Lesotho will provide satellite internet services to individuals and
businesses across Lesotho," the LCA said in a statement.

 

Kananelo Noloetse, coordinator of civic organisation Section Two, said the
LCA's decision was "a betrayal."

 

 

"Such actions can only be described as a betrayal -- a shameful sell-out by
a government that appears increasingly willing to place foreign corporate
interests above the democratic will and long-term developmental needs of the
people of Lesotho," Boloetse said.

 

"At this critical juncture, while Section Two continues to seek further
information regarding this deeply concerning development, we express our
profound dismay at the decision by the LCA to grant a licence to Starlink to
operate a satellite network and provide internet services in the country."

 

He said the decision was made "despite Section Two's well-documented
opposition, echoed by several key stakeholders in the communications sector,
who raised serious and legitimate concerns".

 

Chief among those concerns is the fact that Starlink Lesotho is 100%
foreign-owned. Boloetse argued that this should have weighed heavily in a
licensing process designed to safeguard national interests and promote
inclusive local participation.

 

"By proceeding with this decision, the LCA has not only disregarded the
valid objections of local stakeholders but has also compromised the
integrity and credibility of the regulatory process," he said.

 

Existing telecom companies in Lesotho have substantial local ownership.

 

But the LCA said all comments from public consultations had been shared with
Starlink Lesotho, "which responded to each submission". The Authority had
then compiled a comprehensive report for final deliberation by its Board.

 

Speaking to GroundUp last week, LCA Public Affairs Manager Mothepane Kotele
emphasised the importance of public participation. "The LCA has just
finished reviewing the comments and is currently engaging with those who
contributed to understand the context," she said.

 

However, Section Two said it had not been consulted by the LCA after
submitting its formal opposition to the granting of the licence. Asked for
further comment, Kotele did not respond to questions.

 

Boloetse also referred to a report by an American publication that claimed
Lesotho authorities had given prior assurances to the United States
government that Starlink would be licensed by 15 April 2025.

 

"This revelation exposes a deeply troubling lack of transparency and
suggests that key decisions affecting our national communications
infrastructure may have been predetermined and subject to foreign
influence," Boloetse said. "It calls into question the independence of the
LCA and the commitment of our government to the principles of good
governance and national sovereignty."

 

Read the original article on GroundUp.

 

 

 

Nigeria: Deputy Governor Decries 'Crazy' Electricity Billing, Slams DisCos

The deputy governor said he was billed a staggering N29 million electricity
for April -- up from N2.7 million in March.

 

The Deputy Governor of Lagos State, Obafemi Hamzat, has raised the alarm
over what he described as "crazy billing" by electricity distribution
companies, revealing that his official residence was slammed with a
staggering N29 million electricity bill for April -- up from N2.7 million in
March.

 

Speaking at a roundtable between the Lagos State Government and the Rural
Electrification Agency (REA) held in Victoria Island on Monday, Mr Hamzat
said the electricity provider, Eko Electricity Distribution Company (EKEDC),
had also frustrated his efforts to install a prepaid meter despite payment.

 

"I am a very good example," he said. "Last month, the bill for the official
residence was N2.7 million. This month, Eko DisCo sent a bill of N29
million. I sent it to the Commissioner for Energy. It's crazy. I actually
procured a meter to avoid estimated billing, but converting it has been an
ordeal."

 

 

Mr Hamzat, who represented Governor Babajide Sanwo-Olu at the event, said
the issue of arbitrary electricity charges was affecting not just
high-profile officials but also everyday Lagosians.

 

He cited the case of a resident in Coker Aguda, Surulere, who was issued a
bill of N2.8 million -- more than his annual rent of N2 million.

 

"Our people are suffering because of estimated billing," Mr Hamzat said.

 

The event marked the signing of a Memorandum of Understanding (MoU) between
Lagos State and the REA to "solarise" rural communities across the state.

 

Commissioner for Energy and Mineral Resources, Biodun Ogunleye, hailed the
partnership as a major step towards stable electricity for underserved
communities.

 

 

"Opportunities are opening up for those who never thought they would
experience constant and stable electricity," Mr Ogunleye said.

 

Managing Director of REA, Abba Aliyu, said the agency had identified several
communities to benefit from the rural electrification programme, including a
proposal to build an 8-megawatt floating solar power plant at the University
of Lagos -- pending the state government's approval.

 

Sanwo-Olu vows to end estimated billing

 

Just days earlier, at the Lagos Commodities and Futures Exchange meeting
held at the Muson Centre, Onikan, Governor Sanwo-Olu (also represented by Mr
Hamzat) reaffirmed his administration's commitment to ending estimated
billing and overhauling the energy sector.

 

"We will introduce new meters to eliminate estimated billing and provide
accurate electricity charges," he said, stressing that decentralising power
generation was a key pillar of the state's new energy law.

 

 

He said Lagos aimed to become a model for electricity market transformation
in Africa, with plans to leverage capital market instruments such as energy
bonds and power purchase agreements to attract investment.

 

"The goal is to ensure that every resident has access to reliable power,
reducing dependence on generators and making the environment cleaner. It's a
win-win for all," he added.

 

Mr Ogunleye also unveiled the Clean Lagos Electricity Market initiative,
designed to eradicate blackouts and increase power capacity by constructing
five new energy hubs across the state.

 

Legal battles and protests over 'crazy bills'

 

The lamentation by the deputy governor highlights the unsparing nature of
the burden of arbitrary electricity billing through the estimated billing on
consumers across the country.

 

Electricity consumers across Lagos have intensified resistance to estimated
billing. In Isolo, Mafoluku, and Oshodi, residents sued the Ikeja
Electricity Distribution Company (IKEDC) over alleged inflated billing and
prolonged blackouts.

 

In the suit filed at the Federal High Court, Ikoyi, residents are seeking an
injunction to stop IKEDC from disconnecting them without court approval.

 

One of the plaintiffs, Lawal Ekundayo, told journalists that consumers were
being billed without commensurate power supply.

 

"In some cases, bills of N1.5 million were issued in a single month, even
though there was no electricity for days," he said.

 

Another resident, Ahmed Olayiwola, said the suit was filed to compel IKEDC
to prove its claims in court, not on the streets.

 

"This is the second time we're suing them. Last year, they offered free
meters to settle, only to resume their old practices afterwards."

 

Similarly, in Ajegunle, residents under the Ajegunle Peoples Movement
petitioned EKEDC's management over what they described as "multiple and
unjustified billing practices."

 

According to the petition, consumers were issued two separate bills -- one
ranging from N40,000 to N150,000 per compound and another flat-rate bill of
N7,808 allegedly imposed to recover penalties from the Nigerian Electricity
Regulatory Commission (NERC).

 

"This is extortion," the petition read. "Most of our residents are on Band B
or C with minimal electricity usage -- just bulbs and fans. Yet we are
billed like we live in industrial estates."

 

The group warned that such practices, lacking legal backing, were not only
unlawful but deepening distrust in the power sector.

 

Read the original article on Premium Times.

 

 

 

 

 

 

 

 


 


 


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companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
report shall be solely responsible for making their own independent
investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


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<mailto:bulls at bullszimbabwe.com> bulls at bullszimbabwe.com Tel: +27 79 993
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