Business
BEDC Rejects University of Benin’s Request to Move to Band B for Electricity Tariffs
Benin Electricity Distribution Company (BEDC) recently made a definitive decision regarding the University of Benin’s request to change its electricity supply category.
BEDC firmly declined the university’s proposal to transition to Band B, stating that only Band A, characterized by uninterrupted power supply ranging from 20 to 24 hours daily, is available for consideration.
In contrast, Band B offers a slightly reduced but still substantial supply of 16 to 20 hours of electricity per day, while Band C provides a minimum of 12 hours and up to 16 hours daily.
This decision underscores BEDC’s adherence to stringent service standards aimed at ensuring consistent and reliable electricity distribution across its diverse customer base, including educational institutions like the University of Benin.
According to reports, fuel stations are reducing their prices a bit. This has become a general thing around Nigeria after the spike due to the removal of subsidy.
The prices are dropping to ₦1,275 and ₦1,299, going lower than ₦1,300 compared to what it was before.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
Nigeria’s three biggest cement manufacturers—Dangote Cement, BUA Cement, and HBM Nigeria—generated a combined ₦3.2 trillion in revenue during the first half of 2026.
The strong performance was driven by higher cement prices, increased demand from housing and infrastructure projects, and higher sales volumes across the country.
Compared to the same period in 2025, the companies recorded 26.5% revenue growth, showing that Nigeria’s construction sector continues to expand despite economic challenges. The companies also reported stronger profits and are investing further to increase production capacity to meet future demands.
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