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Nigeria Steps Up Smart Meter Deployment with Installer Training Programme

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‎Nigeria’s efforts to scale up delivery of seven million smart electricity meters and close its metering gap received a boost on Thursday, with the flag-off in Abuja of POWER FORCE, a training programme that will produce 5,000-meter installers across the country.

‎The Power Force programme is being implemented under the Presidential Metering Initiative (PMI), launched by President Bola Ahmed Tinubu in 2023. The flag-off ceremony, held at the headquarters of the National Power Training Institute of Nigeria (NAPTIN), also featured the unveiling of the first batch of selected applicants, who will undergo a three-week intensive practical and classroom training in Abuja.

‎Close to 220,000 submissions were received from interested young Nigerians across the country during the application period.

‎Dignitaries in attendance at the event included the Minister of Power, Joseph Tegbe; the Minister of Youth Development, Ayo Olawande; the Executive Secretary of the Presidential Metering Initiative and Special Adviser to the President on Oil and Gas, Olu Arowolo Verheijen; and the Project Director of the PMI, Obafemi Solebo. The Governor of Kwara State and Chairman of the Nigeria Governors’ Forum (NGF), who also chairs the PMI Board, His Excellency Abdulrahman Abdulrazaq, was represented at the event by Mr Edmund Obiora Nnaji, Executive Director, Finance and Administration at the NGF.

‎Other attendees included the Director-General of the Bureau of Public Enterprises (BPE), Mr Ayo Gbeleyi; the Managing Director of NAPTIN, Mr Ahmed Bolaji Nagode; and the Managing Director of the Nigerian Electricity Management Services Agency (NEMSA), Mr Adesayo Olusegun Michael.

‎In his address, Governor Abdulrazaq said, “PMI is not just about fixing the finances of the power sector through metering. It is also about impacting the lives of young Nigerians, through training and skills development.” He called on fellow governors to explore “supporting this Power Force initiative with a view to expanding the pool beyond the initial five thousand trainees being targeted.”

‎Power Minister Tegbe said, “Behind every successful metering programme must stand thousands of competent, certified and dedicated technicians. The 5,000 young Nigerians being trained under this initiative will become the backbone of Nigeria’s smart metering workforce.”

‎The Power Force initiative, he added, “demonstrates that our electricity reforms are not merely about equipment and technology; they are equally about creating opportunities, building human capital and securing livelihoods.”

‎He commended the Association of Meter Manufacturers of Nigeria (AMMON) for withdrawing a court action it had instituted against the meter deployment programme, noting that “that singular decision has removed a significant obstacle to the accelerated deployment of electricity meters across the country.”

‎Youth Minister Olawande said Power Force is directly supporting his Ministry’s “One Youth, Two Skills” initiative. “This is not just the launch of a training programme; it is about creating jobs and opportunities for Nigerian youths to contribute to national development,” he said.

‎He added, “President Tinubu’s administration has demonstrated that Nigeria’s federal ministries, departments and agencies can have the force of collaboration in making sure the dividends of democracy get to everybody in the country.”

‎Special Adviser Verheijen described the PMI as the largest metering programme in the history of Nigeria, established under the leadership of President Bola Ahmed Tinubu “to solve one of the biggest barriers to a reliable electricity sector: ensuring that every Nigerian pays only for the electricity they actually use.”

‎She added, “One young installer cannot transform Nigeria. But five thousand can inspire fifty thousand. And fifty thousand can inspire millions more. That is how movements begin. One opportunity. One person. One act of service at a time.”

‎Following the Abuja launch, the Power Force training will expand to various centres across Nigeria’s six geopolitical zones. Upon completion, trainees will receive formal certification by NEMSA as qualified meter installers who have met national and international competence and safety standards.

The post Nigeria Steps Up Smart Meter Deployment with Installer Training Programme appeared first on Business Today NG.

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Guinea Insurance Positions for Next Growth Phase Following NAICOM Recapitalisation Approval

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BY NKECHI NAECHE-ESEZOBOR—Emerging from National Insurance Commission, (NAICOM), sector-wide recapitalisation drive with a capital base exceeding ₦15 billion, Guinea Insurance Plc on Friday said its positioning itself for a major market transformation.

With NAICOM verification now completed, the non-life insurer plans to deploy its strengthened capital position toward underwriting larger corporate risks, expanding digital infrastructure, and competing more aggressively for market leadership within Nigeria’s financial ecosystem.

A statement released by the insurer noted that, recapitalisation is not the destination. It is the platform for growth.

The statement further said is now focused on converting its enhanced capital position into greater underwriting capacity, stronger customer propositions, improved service delivery, strategic partnerships and sustainable market growth.

Commenting on the development, the Managing Director/Chief Executive Officer, Mr. Ademola Abidogun, said:

“Recapitalisation has given Guinea Insurance the strength to think bigger, compete harder and pursue opportunities with greater confidence. We have strengthened our capital; now we are focused on strengthening our position in the market.”

“Nigeria is a market of enormous opportunities, and Guinea Insurance intends to be at the forefront of capturing those opportunities. Whether it is supporting major corporates, SMEs, institutions or individuals, we are ready to provide the capacity, expertise and confidence that businesses need to grow.”

The completion of the recapitalisation also reinforces Guinea Insurance’s ambition to become a more competitive, innovative and customer-focused insurer, with increased capacity to participate in larger risks, develop relevant insurance solutions and deepen its relationships across the insurance value chain.

The Company will build on this stronger foundation through disciplined underwriting, technology and innovation, operational excellence, robust risk management and a relentless focus on customer experience.

It will also pursue strategic opportunities that expand its market reach and create sustainable value for shareholders and other stakeholders.

According to the Company, the objective is clear: to turn capital strength into market strength.

Guinea Insurance expressed its appreciation to its shareholders, investors, policyholders, brokers, employees, business partners, regulators and other stakeholders whose confidence and support contributed to the successful completion of the recapitalisation exercise.

As Guinea Insurance enters its next phase, the Company is looking beyond compliance and capital adequacy. It is preparing to compete for bigger opportunities, serve more customers, support more businesses and deliver greater value across the Nigerian economy.

The post Guinea Insurance Positions for Next Growth Phase Following NAICOM Recapitalisation Approval appeared first on Business Today NG.

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Sovereign Trust, Guinea Insurance, 5 Others Join Verified List in Final Recapitalization Clearance

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BY NKECHI NAECHE-ESEZOBOR—Sovereign Trust Insurance Plc and Guinea Insurance Plc are among seven additional underwriting firms officially cleared and verified by the National Insurance Commission (NAICOM) as compliant with the Minimum Capital Requirements stipulated under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

This final batch of approvals formally completes the nation’s insurance recapitalization exercise, bringing the total roster of fully capitalized operators in Nigeria to 48 insurance companies and two reinsurance companies.

See details below:

List of Additional Insurance Companies that Complied with the MCR Prescribed by NIIRA 2025

The post Sovereign Trust, Guinea Insurance, 5 Others Join Verified List in Final Recapitalization Clearance appeared first on Business Today NG.

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