Category: Business Day

Electricity consumers and power distribution companies have been at loggerheads for years over appropriate bills. What seems to separate this dispute is prepaid meters, but this has been scarce.

Now, the management of Holley Metering Nigeria Limited says members of the pubic especially electricity users can now heave a sigh of relief. The group says it has commenced the sales of prepaid meters for customers in Rivers, Bayelsa, Akwa Ibom and Cross Rivers States.

Holley Metering Nigeria Limited is said to be a global leader in the metering industry and licensed by the Federal Government through the Nigerian Electricity Regulatory Commission (NERC) as a Meter Asset Provider (MAP) to bridge the metering gap in Nigeria. According to a statement from its officials, the company said it has carved a niche in top quality smart prepayment meters, metering products and systems and has a long-standing Memorandum of Understanding (MOU) with the Port Harcourt Electricity Distribution Plc, (PHED).

Under the partnership arrangement, the statement further said, ‘Holley Metering has been providing/deploying different types to meter customers in PHED’s franchise area but not limited to installation as well.

‘Holley Meters comes with the benefit of meeting customer needs to control their electricity consumption, avoid estimated bills, unwarranted disconnection in addition to other ancillary advantages.’

The company gave the breakdown of costs of the meters which now range from N129, 454 to N216, 206 depending on the phase of the meter, with an installation period not exceeding 10 working days after payment.

Unlike previous prepaid meter schemes that had a lot of protocol and middlemen, the new scheme is said to be open to any interested person who are free to meet them at their headquarters in Port Harcourt.

Governor Sheriff Oborevwori of Delta State has called on Nigerians to remain steadfast in their commitment to building a stronger and more united nation, even as he observed that the country’s economy has improved tremendously.

Oborevwori, in his Independence message signed by Festus Ahon, his chief press secretary (CPS), urged Nigerians to continue to support President Bola Tinubu’s ‘Renewed Hope Agenda’ as well as his administration’s ‘MORE Agenda’, which, he said, were designed to improve the living standards of the people.

He noted that his government was investing heavily in massive infrastructure upgrades across Delta State, advancing a power revolution through a renewable energy mix, and creating an enabling environment to attract foreign direct investments. The efforts, he explained, were aimed at making life more meaningful for Deltans and residents and significantly boosting the state’s economy. The governor also used the occasion to appeal to all ethnic groups in the state to embrace peace and remain united, stressing that peace was a prerequisite for sustainable development.

Oborevwori reaffirmed his administration’s commitment to inclusive governance and pledged to continue working for the progress and prosperity of all Deltans.

President Bola Ahmed Tinubu, on October 1st broadcast, called on citizens to embrace the culture of tax compliance as the nation works toward economic recovery and inclusive growth.

Delivering his address to mark Nigeria’s 65th Independence anniversary, Tinubu said that while the government is ‘plumbing of the economy,’ citizens must play their part by paying taxes and supporting homegrown enterprise.

‘Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes,’ the president urged.

The call comes as the administration announced a rise in Nigeria’s tax-to-GDP ratio from below 10 percent to 13.5 percent in just over two years, with a new tax law expected to take effect in January 2026.

According to Tinubu, the law will not increase burdens on existing taxpayers but will expand the tax base and provide relief for low-income earners.

‘The tax law is not about increasing the burden on existing taxpayers but about expanding the base to build the Nigeria we deserve and providing tax relief to low-income earners,’ he said. The president highlighted a series of economic milestones his administration has achieved since May 2023, including N20 trillion in non-oil revenue mobilised by August 2025, a rebound in oil production to 1.68 million barrels per day, and foreign reserves climbing to $42.03 billion, the highest level since 2019.

But he cautioned that Nigeria’s economic transformation would not be sustained without a sense of civic responsibility from its citizens.

‘The accurate measure of our success will not be limited to economic statistics alone, but rather in the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities,’ Tinubu said.

On the 65th anniversary of independence, Tinubu positioned tax compliance as central to the country’s long-term vision of a prosperous and self-reliant Nigeria.

‘With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,’ he concluded.

The Nigerians in Diaspora Commission (NiDCOM) has raised the alarm over disturbing reports of rape, assault, and forced drugging of Nigerian girls allegedly held in deportation camps in New Delhi, India, describing the development as ‘heartbreaking and unacceptable.’

In a statement issued on Tuesday by Abdur-Rahman Balogun, director of Media, Public Relations and Protocols, the Commission said it was deeply distressed by videos and testimonies circulating from some victims, which point to serious violations of human dignity and fundamental rights.

Abike Dabiri-Erewa, NiDCOM’s Chairman/CEO, condemned the alleged abuses in strong terms, stressing that Nigerian citizens, irrespective of their location, must not be treated ‘as less than human’ under the guise of immigration control.

‘The alleged acts of sexual violence, physical abuse, and intimidation are both heartbreaking and unacceptable.

‘Nigerian citizens, wherever they are in the world, must not be treated as less than human, nor should their vulnerability be exploited under immigration procedures,’ Dabiri-Erewa said.

The Commission expressed concern that corrupt middlemen and organised groups may be worsening the ordeal of the detainees through exploitation and extortion, warning that such practices, if proven, undermine justice and endanger lives. The Commission disclosed that it is already working with the Nigerian High Commission in India, relevant Indian authorities, and international human rights bodies to verify the claims, provide medical and psychological support to affected persons, and ensure perpetrators face justice.

It further called on the Indian government to urgently investigate the allegations, dismantle exploitative channels, and guarantee the safety and dignity of Nigerians within its borders.

‘Our hearts go out to the young women and men enduring such traumatic experiences. We stand in solidarity with them and affirm that Nigeria will never abandon its citizens in their time of need,’ the statement read.

NiDCOM said it would continue to monitor developments closely and press for justice until the dignity of every Nigerian affected is restored.

Ola Olukoyede, executive chairman of the Economic and Financial Crimes Commission (EFCC), has called on public and private sector organisations in Nigeria to integrate fraud risk assessment and control mechanisms into their governance frameworks to strengthen transparency and accountability.

Olukoyede made the appeal on Tuesday, at the launch of the ISO 37003:2025 Fraud Control Management System held at the Transcorp Hilton, Abuja.

The event was organised by the Standards Organisation of Nigeria (SON) in collaboration with the British Standards Institution (BSI).

Delivering a keynote address entitled, ‘Integrating Fraud Risk Assessment and Control into Governance of Organisations,’ Olukoyede, represented by Ibrahim Shazali, director of Fraud Risk Assessment and Control of the EFCC, described fraud as a ‘pervasive and complex issue’ that causes enormous financial and reputational damage to organisations.

‘Fraud risk assessments provide an opportunity for identifying, analysing, and mitigating the effects of fraud risks in organisations,’ he said, warning that threats such as asset misappropriation, corruption, and fraudulent financial reporting could cripple institutional capacity if not properly addressed.

Olukoyede highlighted the significance of ISO 37003:2025, which he said offers a globally recognised framework for organisations to prevent, detect, and respond to fraud systematically and sustainably.

He further disclosed that in 2024, the EFCC established the Department of Fraud Risk Assessment and Control (DFRAC), mandated to carry out fraud risk assessments across ministries, departments, and agencies (MDAs).

According to him, the unit has been focusing on measures such as segregation of duties, adherence to approval limits, cybersecurity safeguards, transparency protocols, whistleblower arrangements, and targeted awareness programmes to enhance governance and compliance in the public sector.

‘Fraud prevention is a collective responsibility. Our partnership with ISO and SON is crucial in promoting international best practices in fraud prevention and control. ‘By sharing knowledge, expertise, and resources, organisations can strengthen their defences against fraud and promote a culture of integrity and transparency,’ he added, noting that EFCC’s initiatives will also be extended to sub-national levels.

In his remarks, Chukunonso Okeke, Director-General/Chief Executive of SON, represented by Talatu Ethong, Director of Corporate Affairs, described the unveiling of the standard as a ‘historic occasion’ and a major milestone in Nigeria’s role in international standardisation.

‘Today, we are not merely unveiling another international standard, but a powerful instrument to strengthen transparency, accountability, and good governance in Nigeria.

‘With ISO 37003:2025, we now embrace a proactive and structured framework for fraud prevention, detection, and response,’ Okeke said.

He also praised Nigeria’s leadership role in shaping the new standard through SON’s active participation in the ISO/Technical Committee 309 Working Group 8, paying tribute to Professor Oserheimen Aigberaodion Osunbor for positioning Nigeria as a global player in fraud control standardisation.

Abdullahi Bello, Chairman of the Code of Conduct Bureau (CCB), in a goodwill message, commended SON and BSI for driving the initiative.

He described ISO 37003:2025 as ‘a robust framework for fraud prevention, detection, and response’ and expressed optimism that it would further entrench integrity in Nigeria’s governance and business environment.

Other speakers at the event included David Adamson of the British Standards Institution, the representative of the Minister of Industry, Trade and Investment, Kevin Hyland who presented a paper on ‘Criminality and Rule of Law: Impacts on Global Trade,’ as well as representatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Central Bank of Nigeria (CBN), and the Technical Unit on Governance and Anti-Corruption Reforms (TUGAR).

The highlight of the event was the official declaration by SON of the adoption of ISO 37003:2025 Fraud Control Management System for use in Nigeria.

Umar Namadi, the Governor of Jigawa State, has congratulated the government and people of Nigeria on the occasion of the nation’s 65th Independence Anniversary, describing the day as a reminder of the unity, resilience, and sacrifices that built the country.

In his goodwill message, Governor Namadi said the anniversary is not only a time to reflect on the struggles of the nation’s founding fathers but also an opportunity to renew collective commitment to peace, progress, and prosperity. ‘Today, we celebrate Nigeria’s 65th Independence Anniversary with pride and gratitude. This day reminds us of the sacrifices of our heroes past, whose vision and courage laid the foundation of our beloved country. As a people, we must continue to uphold the ideals of unity, justice, and service to humanity,’ the governor said.

This is contained in a statement by Hamisu Mohammed Gumel, Chief Press Secretary to the Governor and made available to newsmen on Wednesday in Duste.

He noted that despite challenges, Nigeria continues to make progress under the leadership of President Bola Ahmed Tinubu, whose policies are geared towards strengthening the economy, improving security, and providing better opportunities for citizens. ‘Here in Jigawa, our administration is committed to complementing the efforts of the Federal Government by prioritising the welfare of our people, investing in agriculture, education, healthcare, infrastructure, and creating opportunities for our youth and women. Together, we will build a stronger state and contribute to the greatness of Nigeria,’ he added.

According to the statement, Governor Namadi urged Nigerians to remain united and hopeful, stressing that the diversity of the nation is a source of strength rather than division.

He called on citizens to continue supporting government policies and programmes for sustainable development. ‘As we hoist our green and white flag today, let us be reminded that the responsibility of building a prosperous Nigeria rests on all of us. With unity, faith, and determination, we shall overcome our challenges and fulfill the dream of a greater nation,’ he concluded.

President Bola Tinubu says Nigeria’s non-oil revenue has improved significantly, rising by 411 percent in September 2025 when compared with what was generated in the corresponding period of 2023.

In his Independence Day speech on Wednesday, President Bola Tinubu said the nation earned over N20 trillion from non-oil revenue between January and August, noting that the economy has turned the corner.

‘We have attained a record-breaking increase in non-oil revenue, achieving the 2025 target by August with over N20 trillion. In September 2025 alone, we raised N3.65 trillion, 411 percent higher than the amount raised in May 2023,’ he said.

He said the nation has finally turned the corner, and the worst is over.

‘ Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour.

‘Under our leadership, our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results. The second quarter 2025 Gross Domestic Product grew by 4.23 percent-Nigeria’s fastest pace in four years-and outpaced the 3.4 per cent projected by the International Monetary Fund. Inflation declined to 20.12 percent in August 2025, the lowest level in three years. The administration is working diligently to boost agricultural production and ensure food security, reducing food costs.’

Tinubu said in the last two years of his administration, the government has achieved 12 remarkable economic milestones, including improvement in non-oil revenue, lower debt servicing, among others.

‘Our debt service-to-revenue ratio has been significantly reduced from 97 percent to below 50 percent. We have paid down the infamous Ways and Means advances that threatened our economic stability and triggered inflation. Following the removal of the corrupt petroleum subsidy, we have freed up trillions of Naira for targeted investment in the real economy and social programmes for the most vulnerable, as well as all tiers of government.’

He added, ‘We have a stronger foreign Reserve position than three years ago.Our external reserves increased to $42.03 billion this September-the highest since 2019.’

The future of payment will take centre stage on Thursday October 2, 2025, as leading voices from Africa’s fintech and enterprise ecosystem gather for a virtual webinar titled ‘Managing Payment Operations at Scale with APIs’.

The webinar will bring together senior executives and product leaders who have been instrumental in shaping Africa’s digital finance infrastructure.

Organisers say the session is designed to provide practical strategies for CTOs, CFOs, and product leaders grappling with the demands of scaling financial operations.

The 90-minute session scheduled for 12 noon on Zoom, will explore how businesses can simplify reconciliation, reduce operational costs, and adapt to rising transaction volumes through the use of APIs.

‘APIs are the connective tissue for modern payments,’ Okoronkwo Kanno, senior product manager, Kuda Business, said in a statement ahead of the webinar.

Kanno, who will give the keynote address, is expected to highlight the role of APIs in scaling payment operations for enterprises.

‘When businesses can automate reconciliation and scale financial operations seamlessly, they don’t just cut costs, they unlock entirely new growth opportunities. That’s the conversation we want to bring to the ecosystem.’

The discussion will cover real-world use cases from industries such as airlines, schools, and betting, where high-volume transactions and back-end reconciliation remain a pressing challenge.

Speakers include Obianuju Odukwe, vice president of digital and API ecosystems at Interswitch; Segun Adeyemi, CEO of Anchor, and Tochukwu Achebe, founder, The Nwa-Amaka Achebe Trust.

Together, they will share insights from the frontlines of digital payments, alongside other senior executives shaping the continent’s financial technology landscape.

By convening experienced practitioners and innovators, the webinar aims to arm enterprises with the tools and knowledge needed to scale in a digital marketplace.

Nigeria is facing a silent but significant workplace crisis: employee disengagement. Recent data compiled from 2022 to 2024 reveals that only 17 percent of Nigerian workers are truly committed to their jobs. The remaining 83 percent are either not engaged, putting in time but lacking energy and passion, or actively disengaged, working in ways that may even undermine their organisations.

This troubling trend mirrors a global pattern. According to Gallup’s latest workplace report, global employee engagement dropped to 21 percent, while the United States, often considered a benchmark, recorded just 31 percent engagement, with 17 percent actively disengaged. These figures highlight a widespread leadership and cultural challenge that transcends borders and industries.

In Nigeria, the implications are particularly stark. In most offices, only about one in six employees genuinely cares about their work outcomes. The rest are either going through the motions or, worse, actively resisting organisational goals. This disengagement is not just a morale issue; it’s a productivity crisis. When employees are psychologically detached, mediocrity becomes the norm, innovation stalls, and performance suffers.

The cost of disengagement

The economic impact of disengagement is staggering. Gallup estimates that disengaged employees cost the global economy $8.8 trillion annually, equivalent to 9 percent of global GDP. For Nigerian businesses, this translates into missed opportunities, reduced competitiveness, and a growing talent drain as top performers seek more fulfilling work environments elsewhere.

Disengaged employees are not just unmotivated; they are often resentful, feeling that their needs are unmet and their contributions unrecognised. This can lead to toxic workplace behaviours, increased absenteeism, and higher turnover rates. In contrast, engaged employees act as psychological ‘owners’ of their work, driving performance, innovation, and customer satisfaction.

Leadership at the core of the problem

Gallup’s research points to a clear culprit: leadership. Their article, Anaemic Employee Engagement Points to Leadership Challenges, emphasises that 70 percent of the variance in team engagement is directly linked to the manager. Yet many managers are not equipped to lead in today’s dynamic, purpose-driven work environment. Traditional top-down management styles are failing to inspire, connect, or retain talent.

In Nigeria, decades of HR initiatives, team-building retreats, and management training have yielded limited results. The problem isn’t just about skills-it’s about connection. Employees want to feel seen, valued, and aligned with a greater purpose. They want leaders who coach, not command, and who listen, not lecture.

A new approach: Everyone has

Organisational development expert Kemi Buluro, a frequent speaker at global conferences hosted by the International Institute of Business Analysis (IIBA) and the International Society for Performance Improvement (ISPI), believes it’s time for a new approach. Her platform, every1has, is designed to tackle disengagement by focusing not on fixing managers but on strengthening team camaraderie.

‘Disengagement is so widespread that in most Nigerian offices, only about one in six employees truly cares about their work outcomes,’ Buluro explains. ‘We need to stop treating engagement as a management problem and start treating it as a team dynamic issue.’

Everyone has offered a fresh perspective by providing insightful data on the unique talents, values, and interpersonal dynamics within teams. It helps organisations understand who works best with whom and how to build trust and collaboration from the ground up. Rather than relying on generic training, it empowers teams to self-organise around shared strengths and mutual respect.

The platform also encourages peer recognition, a powerful yet often overlooked driver of engagement. When employees feel appreciated by their colleagues, not just their supervisors, they are more likely to stay motivated and committed.

The way forward

The disengagement epidemic is not just a Nigerian issue; it’s a global leadership challenge. But it also presents a unique opportunity. By embracing human-centred, team-first solutions, Nigerian companies can leapfrog outdated models and build workplaces where people thrive.

To move forward, organisations must:

-Invest in leadership development that prioritizes emotional intelligence, coaching, and communication.

-Create feedback-rich cultures where employees feel heard and valued.

-Recognise and reward contributions in meaningful ways.

-Foster psychological safety, allowing employees to take risks and speak up without fear.

-Leverage technology like everyone else to build stronger, more connected teams.

As Gallup notes, ‘Flattening engagement reflects a shift in how leaders must manage performance.’ For Nigeria’s future-focused organisations, the message is clear: engagement isn’t a perk-it’s a strategy. And the time to act is now.

Kemi Buluro is an Organisational Development Consultant who helps global companies, from Fortune 500s to startups, simplify processes, strengthen collaboration, and drive innovation. She designs simulation-based learning experiences, including one used by Air France-KLM to train teams in consultative selling. Kemi is also the author of Sales Start with the Customer, a narrative-style business book that teaches customer-centric thinking through reflection and storytelling.

The Oyo State Government is targeting an internally-generated revenue of ?100 billion by the end of 2025 financial year,making it sit comfortably as a leading financial hub in the country.

The present administration has increased IGR to ?65 billion in 2024, and as at July this year, it rises to ?58 billion just ?7 billion short of the 2024 total revenue gathered.

Dotun Oyelade, Commissioner for Information, who said the past administration struggled to reach the ?15 billion mark annually, stated that the ‘implication of the leap in the IGRs is that Oyo State will beat its own record by the end of this year with a target close to ?100 billion.

While confirming the report that since last year, Oyo State has been the best place to live in Nigeria based on quality of life, functional infrastructure, service delivery and security, reacted to a report by the State Performance Index (SPI), handled by a consultancy firm.

He said, ‘Obviously, the State’s Internally Generated Revenue (IGR), which has improved dramatically in the past few years, is being put to good and productive use for the benefit of the citizenry.

The Commissioner said that ‘unlike most sub-nationals and past administrations in Oyo State, IGR collection has been seamless and has not increased the burden on investors.

‘Rather, it has opened up the economy through agribusiness, infrastructure and tourism. This expansion of the economy, coupled with the ripple effect of consistent payment of ?14 5billion to over 130,000 workers monthly, has had a salutary effect on the increasing IGR of the state.

The Commissioner however revealed that the month of September ?15.4 billion was paid as salaries instead of the usual ?14.5 billion.

Another area of concentration of the Governor Seyi Makinde-led administration is healthcare, saying 264 primary healthcare centres have been upgraded and over 3,900 professionals recruited, which has significantly restored the healthcare system.

Oyelade recalled that during a courtesy call at the Governor’s Office two weeks ago,Celine Lafocriere, the UNICEF Country Representative said that UNICEF has had more engagements with Oyo State than any other state in Nigeria in the past two years.