By Obas Esiedesa & Mariam Eko

The Federal Government (FG) has commissioned the upgraded transmission facilities in four major substations in Lagos, adding about 360 megawatts (MW) of transmission capacity to boost electricity supply across the state.

The projects at Ijora, Apapa Road, Alausa and Lekki substations are expected to strengthen bulk power delivery to residential, commercial and industrial consumers within the networks of Eko and Ikeja Electricity Distribution Companies.

Speaking during the commissioning of the projects, Minister of Power, Joseph Tegbe, said the investments were aimed at removing transmission bottlenecks and improving electricity reliability.

“These infrastructures have been here for over 25 years. What we are doing is commissioning new power transformers in Apapa, Ijora, Alausa and Lekki transmission substations. This is important as it will increase our wheeling capacity and also improve our delivery to end-users,” he said.

At Ijora, two new 100MVA transformers raised installed capacity from 90MVA to 230MVA, adding about 112MW, while the Apapa Road substation received two 60MVA transformers and modern gas-insulated switchgear, increasing capacity from 60MVA to 180MVA and adding about 96MW.

At Alausa, an existing 30MVA transformer was replaced with a 100MVA unit, raising total capacity from 135MVA to 205MVA and adding about 56MW. The additional capacity has increased power allocation to Ikeja Electricity Distribution Company to 80MW.

At Lekki, TCN commissioned two by 60MVA transformers, one by 300MVA transformer and nine additional 33kV feeders. The intervention doubled transformation capacity at the 132/33kV level from 120MVA to 240MVA.

Tegbe said the Alausa intervention alone could serve about 70,000 households, representing approximately 180,000 people, while the Lekki project would benefit about 100,000 customers, representing an estimated 400,000 people.

TCN Managing Director, Sule Ahmed Abdulaziz, said the projects were supported by the World Bank and JICA, with Shanghai Electric involved in execution.

By Peter Egwuatu

The Nigerian Economic Summit Group (NESG) has projected Nigeria’s inflation to remain elevated during the remainder of 2026, averaging 15.5 percent in the second half 2026, H2’26, and for the entire year.

This projection is premised on persistent challenges including widespread insecurity in major farming communities, climate-related disruptions particularly flooding and high transportation costs arising from logistics challenges.

In its outlook for 2026, the NESG added that election-related spending, seasonal demand associated with the festive period, and relatively high energy costs could generate temporary cost-push inflationary pressures during H2-2026.

“Howevaer, these pressures could be partly offset by continued exchange rate stability, the lagged effects of tight monetary policy, and favourable base effects” it noted.

While reviewing the Nigeria’s economy in the first half 2026, H1’26, the NESG in its report titled “ Turning Potential into Progress,’ stated that the economy is expected to grow by 4.2 percent in 2026, citing improved performance in the oil, manufacturing, agricultural and services sectors.

The report stated: “Economic growth is expected to strengthen to 4.5 percent in the second half of 2026, bringing full-year gross domestic product (GDP) growth to approximately 4.2 percent’’.

NESG said the oil sector is expected to sustain its growth, supported by improved domestic crude oil production, reflecting better security conditions and the gradual implementation of upstream reforms.

The group said increased domestic refining activity would also strengthen industrial output, reduce dependence on imported refined petroleum products and improve Nigeria’s external position.

“Moreover, manufacturing activity is expected to sustain growth momentum as lower inflation, continued exchange rate stability, and improved foreign exchange liquidity ease production constraints and strengthen business confidence,” the NESG said.

…Govt saved N15.8trn from subsidy removal, naira floatation

…FG got only N5.43trn, borrowed N11.85trn

…No large pool of cash available to FG

By Emma Ujah, Abuja Bureau Chief

ABUJA — The Federal Government has clarified that the N15.8 trillion saved from fuel subsidy removal and the flotation of the naira between June 2023 and December 2025 did not translate into a huge pool of cash available to it.

Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, disclosed this on Wednesday while presenting the government’s economic reforms scorecard in Abuja.

Oyedele explained that the N15.8 trillion in estimated subsidy savings was shared among the Federal Government, states, local governments and other statutory recipients, with the Federal Government receiving only N5.43 trillion.

According to him, the Federal Government’s total incremental resources during the period stood at about N20.4 trillion, comprising its share of subsidy savings, additional revenues and borrowing.

He said the N20.4 trillion comprised N5.43 trillion from subsidy savings, N3.12 trillion in other incremental revenues and N11.85 trillion in additional borrowing.

The minister, however, said the government’s incremental expenditure during the same period was significantly higher, reaching approximately N30.64 trillion.

He listed additional spending on wages, debt servicing, infrastructure, electricity support, social programmes and other government obligations as major components of the expenditure.

Oyedele said the figures should therefore be viewed as a financing story rather than simply a savings story.

“The N15.8 trillion commonly described as subsidy savings was not retained by the Federal Government alone. It was shared across all the tiers of government.

“The Federal Government’s estimated share was N5.43 trillion. When combined with N3.12 trillion in other incremental revenues and N11.85 trillion in incremental borrowing, the Federal Government had approximately N20.4 trillion in incremental resources,” he said.

He added that the government’s additional expenditure of N30.64 trillion during the period meant that the savings from subsidy removal were insufficient to cover its increased financial obligations.

“Over the same period, additional expenditures amounted to approximately N30.64 trillion. Subsidy removal therefore did not create one large pool of cash available to the Federal Government.

“It reduced a major fiscal burden and the amount of additional borrowing that would otherwise have been required,” Oyedele said.

The minister’s explanation comes amid widespread perceptions that the removal of the petrol subsidy had freed up a huge volume of resources for the Federal Government to spend.

Oyedele said the reform should instead be understood as a measure that eased pressure on public finances and reduced the need for even greater borrowing.

He maintained that the government’s fiscal position remained constrained by competing expenditure demands, including personnel costs, debt obligations and investments in infrastructure and social programmes.