News
Revealed: New electricity charges for DisCos as subsidy goes
There are indications the Nigerian government plans to triple energy prices in the coming weeks in a bid to revitalise the country’s energy sector and cut the about $2.3 billion spent on subsidy annually.
The new development aims to implement the 2024 multi-year tariff order (MYTO), which could raise the current tariffs by close to 200 per cent.
The new cost per unit of electricity (kWh) is expected to vary depending on the distribution company (DisCo) and the customer’s consumption level on the back of the increasing inflation rate and the impact of the foreign exchange rate and high cost of gas, which may push up the amount paid by customers without government’s subsidy.
BusinessDay findings showed customers under Yola DisCo will pay between N234 and N179 per kWh, while those under Jos DisCo will pay between N166 and N101 per kWh.
Ikeja Electric customers will pay between N143 and N69 per kWh, while Abuja DisCo customers will be charged between N153 and N74 kWh. Eko DisCo’s rates range from N125 to N79 per kWh.
Benin DisCo’s charges fall between N137 and N100 per kWh. Enugu DisCo customers will pay between N154 and N95 per kWh, and Port-Harcourt DisCo’s rates range from N142 to N100 per kWh.
Kano DisCo charges vary between N159 and N90 per kWh depending on the customer’s band. In Kaduna DisCo, the rates range from N163 to N88 per kWh, while Ibadan DisCo’s charges are between N140 and N97 per kWh.
Experts has however stated that the continued payment of electricity subsidy was not sustainable as it constitutes a huge financial burden on the federal government.
According to the Nigeria Electricity Regulatory Commission (NERC), the federal government spent the sum of N225 billion on electricity subsidy in 2015; N308 billion in 2016; N351 billion in 2017; N440 billion in 2018; N528 billion in 2019; N501 billion in 2020; N251 billion in 2021; N144 billion in 2022; N645 billion in 2023.µ
Source: BUSINESS DAY
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for yesterday 11th September, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1530 and sell at N1550 yesterday 11th September 2025, according to sources at Bureau De Change (BDC). …CLICK LINK TO CONTINUE READING
The likelihood of former President Goodluck Ebele Jonathan entering the presidential race in 2027 is becoming increasingly apparent, particularly given the recent developments surrounding his potential candidacy.
Reports suggest that Jonathan is discreetly meeting with key political figures across the country, which adds to the anticipation surrounding his possible return to politics. Click link to continue reading.
News
2025: Nigeria Missed Out As Ghana Other Meet Top 10 African Countries With Stable Power Supply Emerge
More questions have been raised over the incompetence of the power sector in the country as Nigeria as many African countries making significant strides in enhancing their power supply stability by investing in modern electricity transmission networks, advanced grid infrastructures, renewable energy sources, and natural gas.
Their diversification prevents disruption in their electricity distribution. Foreign collaboration and smart technology are also some of the positive factors that support these countries’ power sector. …click link for full list here
The Dollar to Naira exchange rate in the black market continues to highlight Nigeria’s forex supply challenges, with many individuals and businesses relying on the parallel market for transactions.
CBN maintains tighter controls and a lower rate at official windows, limited access and allocation restrictions force most importers, businesses, and students abroad to turn to the parallel market, where prices reflect actual demand and supply pressures. Click link to continue reading.
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?
See the black market Dollar to Naira exchange rate for yesterday 10th September, below. You can swap your dollar for Naira at these rates.
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1530 and sell at N1545 yesterday 10th September 2025, according to sources at Bureau De Change (BDC). …CLICK LINK TO CONTINUE READING
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Buying Rate N1525
Selling Rate N1535
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate N1510
Lowest Rate N1506
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
Isaac Fayose, younger brother of former Ekiti State Governor Ayo Fayose, has sparked nationwide controversy after declaring that Nigeria belongs only to the Hausa and Yoruba ethnic groups.
In a viral video making the rounds on social media, Fayose dismissed the long-standing belief that Nigeria’s unity rests on a tripod of Hausa, Igbo, and Yoruba.
He claimed that the Igbos have been marginalized and not counted among the country’s dominant groups.
He stated: “They said Nigeria belongs to Hausa, Igbo, and Yoruba, but that’s a lie… take out that Igbo, stop including them because it’s a lie.”
The remarks have triggered widespread backlash, with many Nigerians accusing him of promoting ethnic hatred and fueling disunity.
Others, however, agreed with his statement, describing it as “an honest truth” about Nigeria’s politics.
Netizens Reactions…
@olaoluwasunnyman reacted: “Honest truth.”
@chefnoka said: “History will never forget you, brother. I’m not Igbo, but I love the way you speak and stand for the truth. We need it to move this nation forward.”
@newbilliy commented: “I’m Yoruba but an Igbo President will make Nigeria great. I love Igbo people and their business mindset.”
@beautyjunctiongh wrote: “God bless you, my brother, for saying the truth.”
@benedictoguama asked: “Where is Jonathan from?”
@daveiyke_donnegro stated: “@isaacfayoseoriginal_ God bless you Sir for speaking the truth. I wish other Nigerians can shun tribalism and unite for the progress of Nigeria. Tribalism us a tool against Nigerians and the unity of Nigeria. Politicians have weaponized tribalism which enables them thrive in continued political and socioeconomic incompetence.”
@realtundr4 added: “I agree with what you said, sir, but look at it, does igbo really have d right candidate? Obi is just chameleon to me he’s not real, neither do they have the leadership experience as our current president @officialasiwajubat, the one and only politician that have ever created more millionaires and successful individual in the whole nation. Make we leave hatred, JAGABAN na baba.”
@wellingtonisgreat commented: “@wellingtonisgreat said: “Nigeria belongs to everybody not hausa, yoruba, igbo, Benin have not been president before let us go? You dey talk anyhow.”
@richeart4u said: “Those that have been president, were they given free or charge? Was there a law that stopped Igbo man from being a president? How do people become a president? Or do you mean Igbo have never been allowed to contest for presidency? Same things goes to women too, why are women not hugely represented in all positions even presidency? No one is stopping anyone from becoming anything, you just have to change your strategy and alignment. You can’t be doing same thing over the years and not get the desired result and still want to stick to that failed pattern to achieve a new result. Igbo people and their candidate must be encompassing. Hausa has been aligning more to Igbo people to get whatever position they wanted and why are they not returning the favour hugely? Align to anyone that can boost your change of winning and be well accommodating and understanding the power of choices and politicking. I might be wrong 0000. Na ma small knowledge I take respond oooo.”
Fresh Crisis Hits Air Peace As Pilot Tested Positive for Alcohol, Drug
Hospitals Shut As Resident Doctors Begin Five-Day Warning Strike
Delta Govt Clears Air on Olomoro–Igbide Road Project, Counters Misinformation
Dangote Refinery Sets Date For Direct PMS Supply To 11 States
Wema Bank Surpasses CBN Capital Requirement With Successful N150 billion Rights Issue
FCCPC Recovers N10 Billion For Angry Customers From Banks, Fintech
Oil War: NUPENG Gives Fresh Warning Over “Arrogant Disregard” for Due Process
Coup Plot: Popular Former President Jailed for 27 Years
2027: Why It Would Be Difficult For Tinubu – Fresh Analysis Predicts Possible Election Results
Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 12th September 2025
Politics4 days ago2027 Election: What Nigerians should know if Jonathan wins against Tinubu
- Sports2 days ago
EXPOSED: Osimhen fakes injury for Nigeria – Asamoah Gyan
- News4 days ago
Strike: No More N820/Litre; New Petrol Prices Emerge At Filling Stations; [DETAILS]
- Politics4 days ago
Fubara Return: New Twist As Suspended Rivers Governor May Lose Seat Over Pending Supreme Court Ruling
- News3 days ago
NO MERCY: Eric Chelle’s sack letter ready as Nigeria battles South Africa
- Business4 days ago
Jubilation as dollar crashed, new rate emerges
- News5 days ago
Smoke From The Altar: Reasons Deeper Life Church members are not happy with Pastor Kumuyi
