Business News of Friday, 18 April 2025

Source: www.legit.ng

Lagos Deputy Governor, Hamzat cries out over N29m electricity bill by DisCO

Electricity meter Electricity meter

The Lagos Deputy Governor, Obafemi Hamzat, has cried out after Eko Electricity Distribution Company (EKDC) billed him N29 million in April from N2.7 million in March.

Hamzat said the company frustrated his efforts to get metred despite paying for a prepaid metre.

Hamzat cried out over crazy billing

Hamzat disclosed this at a roundtable in Victoria Island between the Rural Electrification Agency (REA) and the Lagos State Government.

REA and the state government signed a deal to electrify rural areas in Lagos.

Hamzat, who represented the state governor, Babajide Sanwo-Olu at the event, said people are trying to survive and the unifying factor for them is power, stating that there is no power and that there is a billing problem, citing himself as an example.

He said:

“Last month, in my house, or the state house that I live in, the bill was N2.7m last month. This month, Eko DisCo sent us a bill of 29m. I sent it to the Commissioner for Energy. It’s crazy. I actually procured a meter. I bought a meter to say, ’Look, don’t give estimated billing. I bought the meter, but to convert it is wahala,” he lamented.

Lagos partners with REA for rural electricity

He also cited an example of another consumer who was billed N2.8 million while his rent was just N2 million.

He praised the Commissioner for Energy, Biodun Ogunleye, for facilitating the project with REA to provide solar power to rural communities in Lagos.

Ogunleye said Lagos has begun a partnership with REA to boost a new set of opportunities.

He said the opportunities are for those who never imagined having power within an environment with constant electricity.

REA MD cites the benefits of solar power

Ogunleye said:

“I am delighted that I know that REA has been to several other states, but when you are not in Lagos, you’re not yet there,” he said.
Punch reports that the REA managing director, Abba Aliyu, said some communities have been identified from the rural electrification scheme.

He said that REA will need Lagos State’s approval to build an 8MW capacity floating solar plant at the University of Lagos.

Nigerian company to invest $18m in solar energy

Legit.ng earlier reported that following the surge in demand for solar energy in Nigeria, Anergy, a clean tech startup, is rushing to meet that need.

The company just raised about $15 million in Series B funding in addition to the $3 million it raised last year.

Anergy is pouring funds into providing clean power in Nigeria as the demand for solar-powered energy grows after the government removed fuel subsidies.

Since the subsidy removal, petrol prices have soared 500%, making power generators unattractive due to high fuelling prices, including rising electricity tariffs.

Anergy moves to power homes and businesses

Anergy, a Nigerian startup, is racing to take up a large chunk of the clean energy market by providing alternatives to unreliable power via solar systems.

According to Anergy’s CEO, Femi Adeyemo, the company began by positioning solar as an alternative to obtain uninterrupted power, not to save money.

He said the company now strives to show customers how its systems can save money, whether by using petrol, diesel, or even the grid.

Adeyemo started Anergy in 2013 to provide solar systems to homes and businesses in areas such as hospitality, education, finance, agriculture, and healthcare.

FG reacts as electricity firms move to shut down plants

Legit.ng previously reported that the Minister of Power, Adebayo Adelabu, has promised to tackle the N4 trillion electricity debt owed by generating companies (GenCos), which saw electricity distribution companies (DisCos) threatening to shut down on Monday.

The special adviser to the Power Minister, Bolaji Tunji, disclosed that the government is aware of the development and is taking steps to resolve the issues.

Tunji disclosed that the Ministry of Finance will take charge of the payment as part of steps by the government to address the debt.