Business Archives - Page 13 of 84

Enugu orders disco to refund 20,000 customers for over-billing

The Enugu State Electricity Regulatory Commission has directed MainPower Electricity Distribution Company to refund over 20,000 customers who were overbilled in April 2025.

In a statement signed and released by EERC Chairman, Chijioke Okonkwo, and the Commissioner in charge of Market Operations, Reuben Okoye on Monday, the commission said the order followed a thorough investigation into the company’s billing practices, which revealed a significant increase in estimated billing violations.

“The commission has issued an Order to MainPower to refund the affected customers the overbilled units for energy consumed in April 2025,” the EERC notice reads.

It was stated that the list of affected customers has been published on the commission’s website, and MainPower has until the July 2025 billing cycle to complete the refunds.

It warned that failure to comply with the order will attract a fine of N500,000 for each day of non-compliance, as stipulated in the Enugu State Electricity Law 2023.

The commission made it known that it has been monitoring the disco’s billing practices since October 2024, and had issued several letters to the company, highlighting its concerns.

Despite this, EERC claimed the company failed to adequately address the issues, which prompted the commission to take enforcement action.

“The commission recently reviewed MainPower’s April 2025 estimated report, and observed that the degree of violation of the caps on estimated billing by MainPower had further deteriorated from the 24 percent observed in February and March 2025, to 34 per cent in April, 2025,” EERC stated.

The commission, however, advised affected customers who did not receive their refunds by the deadline to contact them via email at info@eerc.en.gov.ng or call 09122642755 for assistance.

Rivers debunks Julius Berger’s withdrawal claims

The Rivers State Government has debunked reports that Julius Berger Nigeria Plc has withdrawn from its project sites in the state, describing the claims as false and misleading.

The denial follows a viral publication that alleged that the construction firm had begun pulling out of Rivers State due to unpaid contract fees by the state government.

In a statement signed by the Senior Special Adviser – Media, Rivers State Government, Hector Igbikiowubo, and made available to newsmen on Friday, the state government dismissed the publication as “malicious” and “a deliberate misrepresentation of facts.”

The statement read, “The Rivers State Government, under the leadership of His Excellency, Vice Admiral (Rtd), Ibok-Ete Ekwe Ibas, strongly condemns the misleading and malicious publication titled ‘Julius Berger withdraws from Rivers’ project sites.

“The report, which falsely claims that Julius Berger Nigeria PLC has begun withdrawing its services from project sites in Rivers State due to alleged shortfalls in payments by the government, is a deliberate misrepresentation of facts and a calculated attempt to tarnish the reputation of the administration”.

Continuing it said, “Nothing could be farther from the truth. The Rivers State Government has consistently and dutifully met all its contractual obligations to contractors, including Julius Berger Nigeria PLC, which has received all payments due since the declaration of Emergency Rule in the state.”

Addressing the variation request, the statement revealed that Julius Berger had demanded an additional ₦171.76 bn an 87.77 per cent increase on top of the original ₦195.7 bn contract sum for the Ring Road project and if granted, would push the total cost to ₦367.45 bn

“The real motive behind misinformation, this baseless report is nothing more than a campaign of calumny orchestrated after failed attempts to pressure the Rivers State Government into approving an exorbitant and unjustified variation request for the ongoing Ring Road project.

“The facts are as follows: the original contract sum for the Ring Road project was N195,695,980,239.61 bn

“Julius Berger submitted a variation request demanding an additional N171,755,448,105.05 billion, representing an 87.77 per cent increase in project cost. If approved, this would raise the total project cost to a staggering N367,451,428,344.66 bn

“It is important to note that in an attempt to forestall such unreasonable claims and protect the State from such arbitrary variation requests, the Rivers State Government at the commencement of the project took a facility from a bank and paid a 77 per cent advance payment in the sum of N150,000,000,000.00 to Julius Berger”, the statement added.

Lasaco Assurance re-commits to youth empowerment

Lasaco Assurance Plc has reinforced its commitment to youth empowerment, education, and meaningful community engagement with a visit to Agidingbi Primary School in Ikeja, Lagos.

In a statement, the firm said that the visit was in commemoration of the 2025 Children’s Day. The visit was characterised by lively interactions, motivational talks, and the generous distribution of educational supplies and refreshments.

The Lasaco Assurance team encouraged the children to pursue their dreams with discipline, integrity, and determination while emphasising education as the cornerstone of future success.

During the visit, the General Manager of Business Development at Lasaco, Muyiwa Anwoju, underscored the insurance firm’s deep-rooted commitment to educational development in Lagos State.

“Children’s Day is a powerful reminder that every child deserves the opportunity to thrive. At Lasaco Assurance, we believe in investing in the future by supporting education and nurturing young minds,” he said.

Echoing this sentiment, Chief Financial Officer Bukola Moradeyo noted, “Our visit is more than a celebration—it’s an intentional act of impact. We want these children to feel seen, valued, and empowered to achieve greatness.”

In his remarks, Head of Strategy, Research, and Communications, Adetokun Adedayo, further emphasised the broader vision behind the initiative: “Lasaco Assurance Plc is not only committed to corporate growth but also community development through education. We believe strong communities are built on the foundation of knowledge and opportunity.”

The school’s head teacher, Mrs Hussein, expressed deep appreciation to Lasaco Assurance for their generosity and community spirit, noting that the visit complements ongoing efforts by educational stakeholders in Lagos to build strategic partnerships that improve student performance and create a nurturing learning environment.

Reflecting the company’s national footprint, Lasaco Assurance also celebrated Children’s Day through its regional offices. In Port Harcourt, the South-South Regional Office visited the State Primary School and Azuabie Primary School. Meanwhile, in the South-West region, the team commemorated the day with the pupils and staff of Methodist Primary School, Akintola Ekotedo, Ibadan.

Heirs Insurance offers N10m in essay contest 30th May 20

The Heirs Insurance Group has announced the opening of applications for the fourth edition of its annual Heirs Insurance Essay Championship, targeted at junior secondary school students nationwide.

In a statement on Wednesday, it was indicated that N10.5m worth of prizes will be up for grabs in this year’s edition features N10.5m worth of prizes.

The winning student will receive an N5 m scholarship along with an N1m education grant for their school. The first and second runners-up will receive N2m and N1m scholarships, respectively. In addition, insurance-focused themes and quizzes have been embedded into the application process for students, ensuring early engagement with the concept of insurance.

To participate, students must submit original essays of not more than 500 words on the topic ‘The Role of Insurance in Keeping Families Safe and Secure’ via its website. Submissions are open from May 27 to July 8, 2025.

In a significant expansion of the initiative, the 2025 edition introduces the Teachers’ Insurance Awareness Prize, a new category designed to recognise and reward teachers who actively promote insurance education within schools and communities.

For the Teachers’ Insurance Awareness Prize, the top teacher will receive a N1m cash prize, with an additional N500,000 grant awarded to their school. To qualify, teachers must implement an insurance awareness project and provide evidence of their initiative and its impact.

Commenting on this year’s competition, Chief Marketing Officer, Heirs Insurance Group, Ifesinachi Okpagu, said, “We are excited to return with an even bigger edition of the Heirs Insurance Essay Championship. This year, we are not only empowering students and their schools but also shining a light on the critical role teachers play in shaping financially aware communities. Across our businesses, we see education as a powerful tool to build a more secure future, and we are proud to drive that vision forward.”

The Heirs Insurance Essay Championship remains a flagship Corporate Social Responsibility initiative of Heirs Insurance Group, aimed at improving education outcomes and deepening insurance awareness among the younger generation. Winners of the programme will be announced at a Grand Finale event in August 2025.

Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.

Businesses to showcase innovations at Startup Expo

Startups and businesses across Africa have been invited to showcase their innovations at the upcoming Lagos Startup Expo, scheduled for June 18–19, 2025, at the Landmark Centre, Victoria Island, organisers disclosed in a statement on Tuesday.

With the theme ‘Connect, Invest and Innovate’, the Lagos Startup Expo 2025 promises to bring together the brightest minds, boldest startups, and most influential investors for two days of discovery, networking, and opportunity.

The organisers described the event as the premier platform for businesses, startups, entrepreneurs, investors, and tech enthusiasts to connect, collaborate, and showcase the very best of African innovation.

The previous edition of the expo drew over 3,000 attendees and nearly 100 startups, with stories of new partnerships, product launches, and business growth echoing long after the event.

This year, the momentum is even greater, with about 200 startups and businesses from different regions expected to take centre stage. Attendees will have a front-row seat to the latest breakthroughs in fintech, healthtech, agritech, logistics, artificial intelligence, and more.

Registered participants can expect a vibrant expo floor packed with live demos, product showcases, and real-time conversations with founders and industry professionals. The event’s open, interactive format is designed to encourage genuine exchanges and build relationships that matter.

For those seeking an elevated experience, VIP passes will unlock exclusive access to masterclasses led by seasoned experts, as well as intimate networking sessions with top founders and investors.

The statement also confirmed that registration is ongoing, with both regular and VIP passes available. Regular passes grant full access to the expo floor, networking opportunities, and all product showcases, while VIP passes offer an enhanced experience, including access to masterclasses and the investors’ lounge.

The organisers added that the Lagos Startup Expo is Africa’s biggest startup showcase, designed to spotlight innovation, foster connections, and accelerate growth across the continent’s growing startup ecosystem.

NiMet, HEDA partner to boost climate information for small-scale farmers

The Nigerian Meteorological Agency and Human and Environmental Development Agenda have signed a Memorandum of Understanding to improve access to weather and climate information for smallholder farmers across Nigeria.

This development was announced in a statement released by NiMet’s media team on Wednesday following the signing of a MoU at the agency’s headquarters.

“The Nigerian Meteorological Agency has formalised its partnership with the Human and Environmental Development Agenda by signing a Memorandum of Understanding aimed at expanding agro-meteorological information delivery to smallholder farmers across Nigeria,” the statement partly reads.

The new agreement builds on a collaborative relationship that began in 2010 and signals a renewed joint commitment to delivering timely, accessible climate data to rural communities.

Present at the signing ceremony were Sulaimon Arigbabu, Executive Secretary of HEDA Resource Centre, and Miss Tonye Dappa, Legal and Liaison Officer, who both expressed appreciation to NiMet’s Director-General and CEO, Professor Charles Anosike, for his ongoing support and leadership.

NiMet Boss, Anosike highlighted the role of partnerships in connecting climate science with grassroots action.

He also offered NiMet’s studio facilities for the co-creation of climate education content tailored to farmers.

According to the statement, the collaboration aims to expand access to climate information, enhance disaster preparedness, promote sustainable agriculture, and strengthen national resilience to climate impacts.

“The partnership is expected to improve early warning systems, support climate-smart agriculture, and strengthen national resilience to climate change.

“Both institutions reaffirmed their commitment to inclusive access to vital weather and climate information,” the statement concluded.

I’ll borrow when absolutely necessary – Otti

Abia State Governor, Alex Otti, has said that his administration will only borrow money to run the state when it is absolutely necessary.

The governor made the vow in Umuahia on Wednesday during a lecture series to mark his two years in office.

Otti, while responding to some of the issues raised by the lecturer, Dr Idika Kalu, a one-time Finance Minister, said borrowing was not to be done recklessly, adding that he would only borrow when necessary.

The governor said he had to inculcate financial discipline and responsibility in the system to get the state to a greater level.

He said he had been paying workers and pensioners, having found that it made more economic sense to pay than to keep the money at the bank.

“We shall commit the remaining two years of this term to institutionalising the reforms that have been initiated.

“Collectively, we shall make Abia the hub of transformational ideas; we shall not be tired of listening to new ideas, for that is the path to continuous growth and progress,” Otti stated.

The governor thanked Kalu for accepting the invitation to deliver his administration’s second anniversary lecture.

Otti said the state put the lecture together to “talk to ourselves honestly and evaluate how far we have come, what we have done right, and what we can do better.”

In his lecture, the former Minister of Finance urged the governor to borrow to expand projects that would create value for the state.

The octogenarian maintained that such borrowing was not bad once it was done in the interest of the state.

The lecture was titled, “Two years of transformation; Sustaining the momentum.”

Kalu also urged Otti to use the media in major roles in his development efforts because of its power to cause change.

“The media can help this nation get back to life so don’t give them minor roles but give them key roles,” Kalu said.

Kalu commended Otti for his numerous projects some of which he said he had seen delivered while some are still ongoing.

He urged the government to always abide by the rule of law and to show examples of how things should be done rightly and uprightly.

Kalu harped on the need to punish errant persons who instilled impunity in the society, noting that a society where impunity reigned was not modernised.

NAN

AI won’t replace artists, will boost creativity – Spotify CEO

The founder and Chief Executive Officer of music streaming giant, Spotify, Daniel Ek, has said that Artificial intelligence will drive more people to create music and should not be seen as a threat to the industry.

Speaking at an Open House event at Spotify’s headquarters in Stockholm, Ek addressed growing concerns surrounding the use of AI in music production.

Some worry that machine-generated tracks — even those attributed to entirely fabricated artists — could eventually sideline human musicians.

“I’m mostly optimistic and mostly very excited because we’re just at the beginning of understanding this future of creativity that we’re entering,” Ek told reporters

AI will boost music creativity, not replace artists – Spotify CEO

Adron Homes Launches Grand Ileya Promo with Massive Discounts, Star Appearances & Festive Gifts

Adron Homes Launches Grand Ileya Promo with Massive Discounts, Star Appearances & Festive Gift

As the Ileya (Sallah) season approaches, Adron Homes, Nigeria’s leading real estate company, is again giving Nigerians a reason to celebrate beyond the festivities with the launch of its highly anticipated ILEYA/SALLAH PROMO!

This year’s celebration blends culture, community, and homeownership into a once-in-a-lifetime opportunity for families and individuals looking to secure their future through real estate.

With over 40 estate locations nationwide, spanning Lagos, Ogun, Oyo, Osun, Abuja, Nasarawa, Niger, Jos, and Ekiti, Adron Homes is offering a generous 30% discount on all land purchases. Even better, customers can enjoy convenient payment plans spread over 24 months, making land ownership more affordable than ever.

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To mark the season of giving, Adron Homes is rolling out exciting gift rewards for customers based on their commitment levels:

• ₦100,000 Payment – 10kg Bag of Rice or Aso Oke or Ankara

• ₦200,000 Payment – 10kg Rice with Aso Oke or 2 Ankara

• ₦500,000 Payment – Goat or 50kg Rice with Aso Oke or 2 Ankara

• ₦1,000,000 Payment – Ram with Aso Oke or 2 Ankara or 50kg Rice + Goat

(Valid for lands worth ₦3M and above)

• ₦3,000,000 Payment – 3 Rams with Aso Oke or 2 Ankara

(Valid for lands worth ₦8M and above)

This campaign is also being celebrated with the support of star brand ambassadors; Lateef Adedimeji, Ibrahim Chatta, and Femi Branch, who embody the spirit of culture, excellence, and family that Adron Homes stands for.

With a proven track record of delivering value and properties in strategic locations, Adron Homes is committed to making the dream of property ownership a reality for every Nigerian regardless of income level.

This Ileya season, the company is inviting all Nigerians to invest not just in land, but in a lifetime of security, prosperity, and generational wealth.

Visit any Adron Homes office nationwide or connect with us through our online platforms:

Website:adronhomesproperties.com

Reps seek reintegration plan for IDPs nationwide

The House of Representatives on Wednesday called on relevant agencies of the Federal Government to carry out a reintegration plan for Internally Displaced Persons across the country.

The decision of the House was sequel to the adoption of a motion on notice during Wednesday’s plenary, sponsored by the member representing Eleme/Oyigbo/Tai Federal Constituency, Rivers State, Mr Felix Nwaeke.

Speaking on the substance of the motion, the Rivers lawmaker noted that as of April 2024, the internally displaced persons in Nigeria were estimated at 3.3m persons living in over 300 camps across Benue, Kaduna, Kano, Katsina, Kogi, Nasarawa, Niger, Plateau, Sokoto, and Zamfara States.

He said, “The visitations by humanitarian organisations and government agencies to these camps are immersed with calls for improved welfare, feeding, and security of the displaced persons in these over 300 camps.

“There has to be a plan on how to prepare these persons who had been forced out of their homes and subjected to living conditions lower than they are used to psychologically, emotionally, and physically to reintegrate them back to a normal standard of living.

“If the displaced persons, most of whom are women and children, are returned home after relative peace is restored in their communities without a structured reintegration plan that would be providing cash assistance, food and clothing, and psychological and emotional counseling and support; it would amount to insensitivity to their plight and, at most, abandonment.”

Following the adoption of the motion, the House urged the Federal Ministry of Humanitarian Affairs and Poverty Reduction and the National Emergency Management Agency to conduct an assessment of the situation in the IDP camps across the country and draw up a reintegration plan for IDPs.

It also mandated its Committee on Emergency and Disaster Management to ensure compliance.