NiMet predicts three-day nationwide haze, sunshine

NiMet

The Nigerian Meteorological Agency (NiMet) has predicted haze and sunshine from Wednesday to Friday across the country.

‎NiMet’s weather outlook released on Tuesday in Abuja envisaged sunny and hazy skies over the northern region throughout the forecast period.

According to the agency, sunny and hazy skies are anticipated over the region throughout the forecast period.

‎It anticipated sunny skies over the southern region with patches of clouds over the region and chances of isolated thunderstorms accompanied with light rains over parts of Bayelsa, Rivers, Akwa Ibom, and Cross River states later in the day.

‎”For Thursday, sunny and hazy skies are expected over the northern and central regions during the forecast period while sunny skies with patches of clouds are anticipated over the southern region.

‎”Chances of thunderstorms with ‎light rains are expected over parts of Ogun, Lagos, Rivers, Bayelsa, Akwa Ibom, and Cross Rivers states during the morning hours.

‎”Later in the day, thunderstorms are anticipated over parts of Ondo, Ogun, Imo, Delta, Cross River, Akwa Ibom, Rivers and Bayelsa states,” it said.

According to NiMet, sunny and hazy skies are expected over the northern region on Friday during the morning hours with dust haze over the region during the afternoon and evening periods.

The agency envisaged sunny and hazy skies over the central region during the forecast period.

NiMet predicted cloudy skies over the southern region with sunny intervals over the region in the morning hours with chances of ‎isolated thunderstorms and light over parts of Anambra, Imo, Abia, Edo, Bayelsa, Delta, Cross River, Akwa ‎Ibom and Rivers states.

“Dust particles are in suspension over the North central region; the public should take necessary precaution.

NiMet advised people with asthmatic health condition and other respiratory issues to be take heed of the present weather condition.

‎”Driving under rain should be with caution. Airline operators are advised to get airport-specific weather reports (flight documentation) from NiMet for effective planning in their operations.

‎”Residents are advised to stay informed through weather updates from NiMet. Visit our website www.nimet.gov.ng,” it said.

Consumers pay N1.13tn electricity bill despite blackouts

National gridElectricity distribution companies in Nigeria collected a total of N1.13tn in revenue from their customers over the six months spanning the second and third quarters of 2025 (April to September), according to detailed monthly performance data from the Nigerian Electricity Regulatory Commission.

This is despite repeated complaints of low power supply among electricity consumers and incessant cases of blackouts in many locations nationwide.

During the period under review, the national power grid suffered a total collapse, plunging customers into darkness. At the same time, GenCos (power generation companies) reported a reduction in power generation due to the low gas supply to power plants as a result of unpaid debts.

Despite this, the NERC report on monthly revenue performance and collection efficiency, covering the 11 DisCos, stated that the total revenue collected by all DisCos in 2025/Q3 was N570.25bn out of the N706.61bn that was billed to customers.

This translates to a collection efficiency of 80.70 per cent. In comparison, the total revenue collected by all DisCos in 2025/Q2 was N564.71bn out of the N742.34bn billed to customers, which translated to a 76.07 per cent collection efficiency.

The summation of both quarters indicates that power users paid N1.13tn to the distribution companies as electricity bills for the six months. This means that at an aggregate level, DisCos recorded a 4.63 pp increase in collection efficiency between 2025/Q2 and 2025/Q3.

In 2025/Q3, Ikeja DisCo recorded the highest collection efficiency of 100 per cent, while three other DisCos recorded collection efficiencies greater than 80 per cent: Eko, 88.74 per cent; Benin, 86.44 per cent; and Abuja, 81.60 per cent. Conversely, Kaduna DisCo recorded the lowest collection efficiency at 45.67 per cent.

A comparison of DisCos’ performance shows that Ikeja (+17.58 percentage points), Port Harcourt (+8.83 pp), Yola (+8.72 pp), Abuja (+5.24 pp), Jos (+4.90 pp), Eko (+0.94 pp), and Benin (+0.89 pp) DisCos recorded improvements in collection efficiency between 2025/Q2 and 2025/Q3.

Conversely, the remaining four DisCos recorded declines in collection efficiency, with Kaduna (-2.70 pp) and Ibadan (-1.34 pp) DisCos having the most significant declines across the quarters.

From April to June 2025, N564.67bn was collected, translating to N197.08bn in April, N188.70bn in May, and N178.89bn in June. In the third quarter, when revenue grew to N570.28bn, a sum of N190.52bn was recovered in July, N187.47bn in August, and N192.29bn in September.

The six-month total of N1.13tn reflects a modest increase in absolute collections from Q2 to Q3, despite a decline in total billing between the two quarters. This contributed to the overall improvement in collection efficiency by 4.63 percentage points in Q3 compared to Q2.

The data underscores ongoing efforts by DisCos to enhance revenue recovery amid challenges such as estimated billing, energy theft, and infrastructure constraints. Collections in September 2025 (N192.29bn) represented the highest monthly figure in the period, indicating some stabilisation.

Individual DisCo performances varied widely, with urban-based operators like Ikeja exceeding 100 per cent efficiency in Q3 due to possible legacy recoveries and Eko leading in recovery rates, while northern DisCos such as Kaduna, Jos, and Kano lagged significantly.

“In 2025/Q3, energy accounting and collection efficiencies increased by 1.37 pp and 4.63 pp, respectively, compared to 2025/Q2. Based on historical trends, this increase in efficiencies across the two quarters can be attributed to the decreased energy offtake (-6.08 per cent) during the quarter compared to 2025/Q2.

“It has been observed that there is an inverse relationship between DisCos’ energy offtake and their energy accounting/collection efficiencies. Typically, when DisCos take less energy, they often prioritise areas where they record historically lower energy accounting and collection inefficiencies.

NERC noted that accurate metering is needed to boost collection efficiencies. “The most proven methods to improve energy accounting and revenue recovery are accurate customer enumeration and the installation of end-use customer meters.

“The commission issued the order on the operationalisation of Tranche A of the Meter Acquisition Fund in 2024/Q2. The Order directed DisCos to utilise the first tranche of disbursement from the MAF scheme to procure and install meters for unmetered Band A customers within their franchise areas.

“The first tranche of MAF ended in June 2025 and recorded a total meter installation of 107,461 for Band A customers. Subsequently, the commission issued the Order on the operationalisation of MAF tranche B in September 2025, and the Order provides that DisCos could utilise N28bn out of the funds that have accrued in the MAF for the metering of Bands A and B customers in their franchise area,” the report added.

UBA closes rights issue, raises N157.84bn

United Bank for Africa PlcUnited Bank for Africa has successfully closed its rights issue, raising N157.84bn after the exercise was fully subscribed, the bank announced on Wednesday.

The rights issue offered 3,156,869,665 ordinary shares at N50 per share, on the basis of one new share for every thirteen existing shares held by shareholders on the register as of 16 July 2025.

At the close of the acceptance list on 19 September 2025, UBA initially received 6,404 applications for 4.13bn shares valued at N206.74bn. Following scaling adjustments by shareholders, the final allotment amounted to 3.16bn shares worth N157.84bn, representing 100 per cent subscription of the rights issue.

A breakdown of the subscriptions shows that 6,404 valid applications were received for 3.57bn shares valued at N178.3bn, while 568.7m shares valued at N28.43bn were deemed invalid. Full acceptances accounted for 453.58m shares, and partial acceptances totalled 135.27m shares, resulting in 190.93m shares partially renounced.

During the exercise, a total of 2,568,006,215 shares were renounced and reallocated. Applications for additional shares amounted to 2.98bn shares valued at N148.86bn, of which 2.57bn shares valued at N128.4bn were allotted, following a scale-down by one shareholder.

The Securities and Exchange Commission has cleared the basis of allotment. The PAC Registrars and Investor Services Limited will credit the CSCS accounts of allottees by Friday, 16 January 2026, while surplus subscription monies will be returned by Tuesday, 13 January 2026. Shareholders without CSCS accounts will have shares credited using a Registrar Identification Number in line with SEC directives on dematerialisation of share certificates.

The successful rights issue highlights strong investor confidence in UBA and provides additional capital to support the bank’s operations and expansion initiatives across Africa.

NGX gains N468bn as New Year rally persists

NGXThe Nigerian Exchange extended its positive momentum in the new trading year on Tuesday, as sustained buying interest across key stocks lifted total market capitalisation by about N468bn, reinforcing investor optimism and consolidating the market’s position above the N100tn milestone.

At the close of trading, total equities market capitalisation rose to N102.28tn from N101.81tn recorded in the previous session, reflecting a 0.46 per cent increase in market value within one trading day. The gain underscores continued bullish sentiment following the strong opening to the 2026 trading year.

The All-Share Index advanced by 0.46 per cent, adding 732.86 points to close at 159,951.08 points, compared with 159,218.22 points on Monday. The performance pushed the market’s year-to-date return to 2.79 per cent, highlighting a firm start to the year amid renewed portfolio positioning by investors.

Market activity showed notable improvement, with a total of 758.93m shares exchanged in 54,199 deals, valued at N19.83bn. Compared with the previous trading day, trading volume increased by 9 per cent, while turnover rose by seven per cent, despite a four per cent decline in the number of deals executed.

The increase in volume and value points to stronger participation by investors, particularly in actively traded stocks, even as transactions were concentrated in fewer but larger trades.

In aggregate, 130 listed equities participated in trading during the session. Market breadth closed positive, with 65 gainers against 21 losers, indicating broad investor participation and a generally upbeat sentiment across the market.

Meyer Plc topped the gainers’ chart, appreciating by the maximum 10 per cent to close at N14.30 per share. Jaiz Bank Plc followed with a 10 per cent gain, while Associated Bus Company Plc rose by 9.98 per cent. Multiverse Mining and Exploration Plc also posted strong performance, advancing by 9.94 per cent.

On the losing side, Aluminium Extrusion Industries Plc recorded the steepest decline, shedding 9.96 per cent to close at N21.70 per share. Learn Africa Plc fell by 9.16 per cent, and Oando Plc declined by 7.69 per cent, while United Bank for Africa Plc lost 6.22 per cent.

Trading by volume was led by Linkage Assurance Plc, which recorded 51.6m shares traded. Sterling Bank Plc followed with 49.1m shares, while Access Holdings Plc and Mutual Benefits Assurance Plc recorded volumes of 48.7m and 34.7m shares, respectively.

Market performance during the session was driven largely by activity in heavyweight stocks, including MTN Nigeria Communications Plc, Access Holdings Plc, Guaranty Trust Holding Company Plc, Zenith Bank Plc, and United Bank for Africa Plc, which together accounted for a significant share of market turnover and index movement.

Overall, the equities market closed the session bullish, extending the early-year rally and keeping total market capitalisation comfortably above N100tn. Analysts note that the sustained gains reflect renewed investor confidence, selective bargain hunting, and positioning ahead of expected corporate earnings releases and macroeconomic developments.

Meanwhile, broader market indicators remained supportive. At the close of trading, Brent crude oil traded at $61.82 per barrel, while gold stood at $4,418.82 per ounce on the international commodities market, providing additional context for global risk sentiment.

With market capitalisation now at N102.28tn and trading activity strengthening, the NGX appears set to maintain positive momentum in the early days of 2026, barring any adverse macroeconomic or policy shocks.

Fidelity Bank raises N259bn in private placement

Fidelity Bank logoFidelity Bank Plc has raised N259bn through a Private Placement of ordinary shares, significantly boosting its capital base as the lender intensifies efforts to meet the new regulatory capital requirements for commercial banks with international authorisation.

In a statement issued on the Nigerian Exchange Limited on Tuesday, the bank said the Private Placement was conducted following approvals from the Central Bank of Nigeria and the Securities and Exchange Commission and was successfully opened and closed on 31 December 2025.

“Fidelity Bank Plc is pleased to inform the general public that, following approvals granted by the Central Bank of Nigeria and the Securities and Exchange Commission, it successfully opened and closed a Private Placement of ordinary shares on 31 December 2025,” the bank said.

According to the statement, the exercise resulted in the bank raising N259bn, which increased its eligible capital from N305.5bn to N564.5bn, subject to final regulatory approvals.

“This exercise resulted in the bank raising N259bn, increasing its eligible capital from N305.5bn to N564.5bn, awaiting regulatory approvals,” the statement added.

The bank explained that the Private Placement was carried out pursuant to the authority granted by shareholders at its Extraordinary General Meeting held on 6 February 2025, where approval was given for the issuance of up to 20bn ordinary shares.

“The Private Placement was conducted pursuant to the authorisation received from the Bank’s shareholders at the Extraordinary General Meeting of 6 February 2025, to issue up to 20bn Ordinary Shares by way of Private Placement,” Fidelity Bank stated.

The latest capital raise forms part of the lender’s broader recapitalisation programme aimed at meeting the new minimum capital threshold of N500bn set by regulators for commercial banks with international licences.

The bank recalled that it had previously raised N175.85bn through a Public Offer and Rights Issue in 2024, which lifted its eligible capital to N305.5bn at the time.

“The Bank had previously raised N175.85bn through a Public Offer and Rights Issue in 2024, bringing its eligible capital to N305.5bn,” the statement added.

Following the completion of the Private Placement, Fidelity Bank said it has now surpassed the N500bn regulatory requirement, with a buffer above the minimum threshold.

“This left a margin of N194.5bn to meet the new regulatory capital requirement of N500bn for commercial banks with international authorisation,” the bank added.

Industry analysts say the successful completion of the Private Placement positions Fidelity Bank strongly ahead of regulatory deadlines and reflects sustained investor confidence in the lender’s growth strategy, balance sheet strength and long-term outlook.

With eligible capital now standing at N564.5bn, Fidelity Bank joins the growing list of Nigerian lenders that have made significant progress in the ongoing banking sector recapitalisation exercise, as regulators push for stronger, more resilient financial institutions capable of supporting economic growth.

Lagos APC begins electronic membership registration

Lagos State chapter of the All Progressives Congress, APC, has officially rolled out an electronic membership registration drive across all wards in the state.

The party announced that the e-registration initiative, which commenced on Monday, will continue until the end of January, targeting both existing members and newcomers to create a comprehensive digital membership database.

In a statement, the Lagos APC spokesperson, Seye Oladejo, said the move is aimed at strengthening internal democracy, enhancing the accuracy of party data, and preparing the party for upcoming electoral engagements.

“The adoption of digital registration will help eliminate duplication and impersonation, ensuring that every member is accurately documented and verifiable,” Oladejo said.

He added that the initiative guarantees equal recognition for long-standing and new members alike, curbing gatekeeping practices and promoting transparency across the party’s structures.

Oladejo emphasised that maintaining a credible and reliable membership registry is essential for conducting transparent congresses, primaries, and leadership selection processes.

He noted that leveraging technology will encourage participation from youth, professionals, and first-time political entrants, while improving grassroots coordination and electoral readiness.

The APC spokesman urged all members across Lagos State to engage actively in the exercise, describing it as a collective responsibility vital to the party’s growth and democratic processes.

Kwankwaso reflects on political journey with Gov Yusuf

Former Kano State Governor and leader of the Kwankwasiyya movement, Senator Rabiu Musa Kwankwaso, has celebrated the Executive Governor of Kano State, Alhaji Abba Kabir Yusuf, on the occasion of his birthday, offering prayers for wisdom and clarity in the year ahead.

Kwankwaso made this known in a post shared on his official X account on Tuesday.

In the message, the former governor reflected on his long political relationship with Governor Yusuf, describing it as a shared journey that spanned many years and different responsibilities.

“On this day, I appreciate the birthday of the Executive Governor of Kano State, Alhaji Abba Kabir Yusuf,” Kwankwaso wrote.

He recalled that Governor Yusuf served under him in several capacities, starting as his Personal Assistant during his first term and ministerial period, later as Principal Private Assistant, then as Commissioner during his second tenure, before eventually becoming governor.

Kwankwaso noted that through these roles, Abba Yusuf contributed to the vision and programmes aimed at developing Kano State.

“I reflect on the many years of our shared political journey, during which he served in various important capacities; first as my Personal Assistant in my first term and as Minister, and then as Principal Private Assistant, and later as Commissioner during my second tenure, and now as Governor- through which he contributed to the vision and programmes we pursued for the development of Kano State.

“I pray that this new year grants him wisdom, good health, and clarity of purpose,” he added.

Sarkin Hausawa of Ibadanland dies

The leader of the Hausa community, also known as Sarkin Hausawa of Ibadanland, Alhaji Ali Ɗahiru Zungeru is dead.

DAILY POST gathered that Zungeru died Monday evening.

Our correspondent reports that Zungeru was turbaned few months ago.

He succeeded his elder brother, Ahmadu Dahiru Zungeru.

DAILY POST gathered that their father, Alhaji Dahiru Zungeru was one time the Sarkin Hausawa of Ibadanland.

A source within the Hausa community in Sabo area of Ibadan confirmed the death of the Sarkin Hausawa to DAILY POST.

The source who asked not to be named, noted that the deceased would be buried on Tuesday according to Islamic rites.

The source said, “Yes the Sarkin Hausawa of Ibadanland is dead.

“He died this evening. He will be buried in Sabo tomorrow (Tuesday)”.

Why there’s low turnout in voter registration – INEC

The Independent National Electoral Commission, INEC, has given the reason for the low turnout in voter registration across the country.

Speaking in an interview on Arise Television monitored by DAILY POST on Monday, INEC Director of Voter Education and Publicity, Victoria Etta-Messi, said  distance getting to INEC office in some communities has discouraged registration.

Etta-Messi stated that the Commission is introducing the policy of rotation, where the machines and registration teams will be taken to the ward level.

“So, one major challenge that has been noticed and noted is the distance of local governments from the communities. That has been discouraging for the citizens to come to their local government capitals to get registered.

“And so because of that, the Commission is aware of that challenge. And so during the second phase, they are going to introduce the policy of rotation.

“So as we start today, because we’re not going to have the exercise on weekends, it’s about 75 days from today, January 5 to April 17. That will cover for the second phase.

“So the Commission is looking into having started 50 days towards the end of the exercise, would initiate the rotation policy where the machines and the registration teams would be taken from ward to ward.

“And so we will draw out a schedule, where we would now be moving from one ward to another and the devices will be taken closer to the people at the ward level. But for now, we’re still holding on to the local government and the state offices,” she said.

Sanwo-Olu donates N100m, houses to military veterans

sanwoAs part of events to mark the Year 2026 Armed Forces Remembrance Day celebrations, the Governor of Lagos State, Babajide Sanwo-Olu, has donated the sum of N100 million, four units of two-bedroom apartments in Ajara, and two pick-up utility vehicles to the State Council of the Nigerian Legion.

He also donated four cows, 500 bags of rice, and other food items to members of the Nigerian Legion as part of his administration’s commitment to the welfare of Legionnaires and families of the fallen heroes.

According to a statement by Sanwo-Olu’s Special Adviser on Media & Publicity, Gboyega Akosile, the governor announced the donations on Monday at the State Executive Council meeting during the Appeal Fund and Launching of the Year 2026 Armed Forces Remembrance Day Emblem at Lagos House, Ikeja.

The governor said the launching of the Emblem Appeal ahead of the January 15, 2026, commemoration of Armed Forces Remembrance Day has become a tradition that has come to stay in Nigeria, noting that he considers it a constitutional duty to remember the fallen heroes who have served the country, while some have become handicapped in the process as well.

“It is customary to accede to the yearly requests of the Nigerian Legion. We promise to continue to support the Nigerian Legion, Lagos State Council, in demonstrating our gratitude for the services rendered for the continued existence of the sovereignty of Nigeria.

“Our sovereignty as a nation exists because of these brave men and women. The Emblem Appeal is a responsibility we owe to those who laid down their lives for Nigeria and to those who returned with life-changing injuries. We must remember them in real and tangible ways.

“This is our way of saying thank you for the sacrifices that allow all of us to live in a free and united country,” he said.

Speaking earlier, the Commandant of the Lagos Council of the Nigerian Legion, Akeem Wolimoh, commended Governor Sanwo-Olu and the State Government for the support received over the years.

He noted that the support received in the past has greatly assisted the Lagos Chapter of the Nigerian Legion in alleviating the living conditions of their members, adding that some of the dependants of their members have been empowered through skill acquisition by the Ministry of Women Affairs and Poverty Alleviation, as well as empowerment programmes from other MDAs of the Lagos State Government.

The year’s Emblem Appeal launch was attended by the Deputy Governor, Dr. Obafemi Hamzat; Secretary to the Lagos State Government, Abimbola Salu-Hundeyin; Head of Service, Bode Agoro; Chief of Staff, Tayo Ayinde; members of the State Executive Council; and officials of the Nigerian Legion.

The event was also attended by the Commander of the Air Force Base, Sam Ethnan Air Force Base, Ikeja, Air Commodore M. A. Imam; Commander of 9 Brigade, T. A. Lagbaja Cantonment, Ikeja, Brigadier-General A. O. Owolabi; Lagos State Commissioner of Police, Olohundare Jimoh; and other personnel of the Nigerian Armed Forces.