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Expect Another Electricity Tariff Hike Within Months — Presidential Aide Olu Verheijen Tells Nigerians

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Olu Verheijen, special adviser to President Bola Tinubu on energy, says Nigeria’s electricity tariff will increase within months.

According to a report by Bloomberg on Friday, the presidential aide spoke at the Africa Heads of State Energy Summit in Dar es Salaam, Tanzania.

On April 3, 2024, the federal government approved a threefold increase in electricity tariff for customers under the Band A classification.

Verheijen explained that Nigeria’s power prices need to rise by about two-thirds (66 percent) for many customers to reflect the actual cost of supplying electricity.

She also emphasised that higher electricity tariffs must be balanced with subsidies for less-affluent consumers, as they are necessary to fund maintenance, improve reliability, and attract private investors into power generation and transmission.

  • ‘Nigeria To Implement Cost-Reflective Electricity Tariff’

The presidential aide said Nigeria is trying to resolve the transition to a cost-efficient but cost-reflective tariff to attract private investors.

“One of the key challenges we’re looking to resolve over the next few months is transitioning to a cost-efficient but cost-reflective tariff,” Verheijen said.

“So the sector generates revenue required to attract private capital, while also protecting the poor and vulnerable.”

She also highlighted that Nigeria’s power industry requires significant investment to meet its development goals.

The aide said out of the country’s 14 gigawatts of installed power, only eight gigawatts can be transmitted nationwide, while just four or five gigawatts can be directly delivered to homes and businesses.

“Your energy policies have to be closely linked with your own ambition for your country,” Verheijen said.

“Our own ambition is to be a $1 trillion economy in five years and to move to an upper-middle income country in 25 years.”

According to the report, Verheijen attended the World Bank-backed conference in Tanzania, where Nigeria presented a $32 billion plan to expand electricity connections by 2030.

It further explained that private investors are expected to contribute $15.5 billion, while the remaining funds will come from public sources, including the World Bank and the African Development Bank (AfDB).

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Toke Benson, Yinka Adebayo To Unveil BON Awards 2025 Nominees List

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The eagerly anticipated Best of Nollywood (BON) Awards is set to ramp up its 2025 edition with the official announcement of its nominees list on Monday, November 3. The glamorous unveiling ceremony will be led by the Lagos State Commissioner for Tourism, Arts and Culture, Hon. Toke Benson-Awoyinka, and renowned media and advertising guru, Mr. Yinka Adebayo, MD Media Reach.

According to Seun Oloketuyi, founder, Best of Nollywood Awards, the 2025 edition saw an overwhelming response from filmmakers, with over 100 films submitted across 39 competitive categories, reflecting the robust growth and creative depth of the Nigerian film industry.

The grand finale of the BON Awards 2025 is scheduled to hold in Lagos, the epicenter of Nigeria’s creative economy, come Sunday, December 14, with organisers promising an event of unparalleled excellence.

“The sheer volume and quality of submissions this year is a testament to the fact that Nollywood is consistently pushing its boundaries. We had to work harder than ever to arrive at this final list. Our return to Lagos is also symbolic—it’s where the dream began, and this year, we will ensure the event is exceptionally excellent, just like Lagos itself. Filmmakers, fans, and stakeholders should prepare for an edition that will set a new benchmark for film awards in Africa, especially with our Guinness World Record Attempt for the Longest Red Carpet in the world.”

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JUST IN: 12 Feared Dead As Plane Carrying Tourists Crashes In Kenya

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A small passenger aircraft travelling from Kenya’s coastal city of Diani to the Maasai Mara National Park crashed early Tuesday, killing all 11 people on board, including foreign nationals, according to the airline.

The plane, operated by Mombasa Air Safari, was headed for Kichwa Tembo — an airstrip inside the popular Maasai Mara reserve — when it went down around 5:30 a.m. local time (0230 GMT).

Confirming the incident, the chairman of Mombasa Air Safari, John Cleave, said the aircraft had 10 passengers — eight Hungarians and two Germans — alongside a Kenyan pilot.

“Sadly, there are no survivors,” Cleave stated, citing preliminary information. “We have activated our emergency response team and are cooperating fully with the authorities.”

He added that the company’s thoughts and prayers were with the families and loved ones of those affected by the crash.

An earlier statement from the Kenya Civil Aviation Authority (KCAA) reported that the plane had been carrying 12 people at the time of the crash, though the discrepancy has yet to be clarified.

The KCAA said relevant government agencies were already at the scene to determine the cause of the accident.

In a similar incident in August, a light aircraft operated by medical charity Amref crashed near Nairobi, the Kenyan capital, killing six people and injuring two others.

 

Credit: AFP

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Meta, TikTok To Obey Australia Under-16 Social Media Ban, Cite Implementation Concerns

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Tech giants Meta and TikTok have confirmed they will comply with Australia’s new law banning users under the age of 16 from social media platforms — even as both companies warned that enforcing the measure would be challenging.

Under the new rule, set to take effect on December 10, social media platforms including Facebook, Instagram, and TikTok will be required to remove users below 16 years from their services.

The policy has drawn global attention as regulators around the world grapple with how to protect minors from online risks while balancing access and privacy concerns.

Both TikTok and Meta acknowledged the government’s authority but cautioned that enforcing the law would be technically difficult.

“Put simply, TikTok will comply with the law and meet our legislative obligations,” said Ella Woods-Joyce, TikTok’s Australia policy lead, during a Senate hearing on Tuesday.

While the law is considered one of the strictest worldwide, Australian authorities are still ironing out key details about how it will be implemented and monitored.

TikTok described the ban as “blunt,” warning it could drive young users to unregulated corners of the internet.

“Experts believe a ban will push younger people into darker corners of the Internet where protections don’t exist,” Woods-Joyce added.

‘Vague’ and ‘Rushed’

Meta’s policy director Mia Garlick told lawmakers the company was working to remove hundreds of thousands of underage accounts before the December 10 deadline but described the task as complex.

She said Meta faced “significant new engineering and age assurance challenges” to identify and remove accounts belonging to users under 16.

“The goal from our perspective, being compliance with the law, would be to remove those under 16,” she noted.

Officials have clarified that social media companies will not be mandated to verify every user’s age but must take “reasonable steps” to detect and deactivate underage accounts.

Violating the regulation could attract penalties of up to Aus$49.5 million (US$32 million).

Several tech firms have criticized the legislation as “vague,” “problematic,” and “rushed.”

Video platform YouTube, also affected by the ban, said that while Australia’s intentions were good, the approach was flawed.

“The legislation will not only be extremely difficult to enforce, but it also does not fulfill its promise of making kids safer online,” said YouTube’s local spokesperson Rachel Lord.

Australia’s online safety watchdog has also hinted that other platforms — including WhatsApp, Twitch, and Roblox — could fall under the scope of the new law.

 

Credit: AFP

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