…Commits to growing SMEs for global Impact

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reiterated its commitment towards supporting the growth of Small and Medium Scale businesses for global impact, as it headlines the sponsorship of the Lagos International Trade Fair (LITF) for the seventh consecutive year.

Organised by the Lagos Chamber of Commerce and Industry (LCCI), this year’s trade fair, which was flagged off on Friday November 7, at the Tafawa Balewa Square, Onikan, Lagos will be open to all till November 17, 2025, and is expected to attract thousands of exhibitors, investors, and visitors from across Nigeria and the globe.

In line with its customer-first philosophy, UBA will host a rewarding experience for its customers with a dedicated, full-service branch within the trade-fairground.



Account holders who perform any transaction, such as deposits, withdrawals, or transfers, etc, at this branch will be instantly eligible to participate in a special “Lucky Dip” draw, which will offer them the chance to win a variety of premium prizes.

Speaking during the opening ceremony of the fair, UBA’s Head, SME Banking, Babatunde Ajayi, underscored the strategic importance of the longstanding partnership with LCCI while reaffirming that this collaboration is a critical component of the bank’s core mission to mobilise capital as well as empower enterprises of all scales, with a focus on growing SMEs for global impact.

“Our consistent support for the LITF and our strategic, bank-wide initiatives around the AfCFTA are interconnected,” Ajayi stated. “They are two sides of the same coin, and it reflects a deep-seated commitment to building the robust financial architecture that is required to empower African businesses and enable them trade seamlessly across borders.”


UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, positioned the bank’s participation within the context of its vision for Africa’s economic transformation, as detailed in its recently published white paper on achieving a $4 trillion continental economy.


“The LITF represents one of several strategic platforms through which UBA is actively translating the ambitious goals of our whitepaper into tangible action,” Ladipo said. “Our comprehensive roadmap to a $4 trillion African economy is being built through practical, on-ground engagements such as this, which is focused on growing SMEs for global impact. These are platforms that directly connect businesses, facilitate commerce, and unequivocally demonstrate our resolve to turn a bold vision into a tangible reality for millions.”


Ladipo noted that deep partnerships, which are complemented by continuous digital innovations and cross-border trade solutions, will lay the groundwork for sustainable, inclusive economic growth that will benefit corporations, SMEs, and individual entrepreneurs across Africa.



United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.”

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“Our consistent support for the LITF and our strategic, bank-wide initiatives around the AfCFTA are interconnected,” Ajayi stated. “They are two sides of the same coin, and it reflects a deep-seated commitment to building the robust financial architecture that is required to empower African businesses and enable them trade seamlessly across borders.”

UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, positioned the bank’s participation within the context of its vision for Africa’s economic transformation, as detailed in its recently published white paper on achieving a $4 trillion continental economy.

“The LITF represents one of several strategic platforms through which UBA is actively translating the ambitious goals of our whitepaper into tangible action,” Ladipo said. “Our comprehensive roadmap to a $4 trillion African economy is being built through practical, on-ground engagements such as this, which is focused on growing SMEs for global impact. These are platforms that directly connect businesses, facilitate commerce, and unequivocally demonstrate our resolve to turn a bold vision into a tangible reality for millions.”

Ladipo noted that deep partnerships, which are complemented by continuous digital innovations and cross-border trade solutions, will lay the groundwork for sustainable, inclusive economic growth that will benefit corporations, SMEs, and individual entrepreneurs across Africa.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.”

President Bola Tinubu, on Monday in Abuja, assured the technical contractor handling the Presidential Power Initiative (PPI), Siemens Energy, of the government’s full commitment to improving the country’s electricity supply and enhancing livelihoods.

At a meeting at the State House with a delegation from Siemens Energy, led by Dietmar Siersdorfer, Managing Director of Middle East and Africa, President Tinubu noted that the power sector remains central to stimulating the economy, particularly in the industrial, educational, and healthcare sectors.

The Vice President, Sen. Kashim Shettima, the coordinating minister of the Economy, Wale Edun, the Minister of Power, Adebayo Adelabu, and the Special Adviser on Energy, Olu Verheijen, attended the meeting.

The President stated that the completion of the phased power project will give Nigeria a place of pride on the continent by harnessing the latent potential in human and material resources across various sectors.

“There is no industrial growth or economic development without power. I believe that power is the most significant discovery of humanity in the last 1,000 years.

“I appreciate the partnership on the initiative. The progress of the project to date is notable, and we can feel it. But it is not where we want it to be.

“We appreciate the support and commitment of the German government and Siemens. The investment you are making and your commitment align with the future of this country.

“Our education, our health care and our transportation all depend on energy and without power, it is an impossible objective. We are taking it very seriously,” he added.

The President also directed the expansion of some major transformer substations from two to three phases to boost the country’s power supply.

“We are all inspired and happy. This is what we want to achieve on the continent. We want everyone to see the glory of our economic recovery and banishment of poverty,” he said.

The President assured the delegation that the government will continue to provide the needed resources for the power project.

The Power Minister, Adelabu, stated that the power sector had achieved many critical milestones, including the decentralisation and liberalisation of the sector.

He noted that the President signed the Electricity Act 2023, and a National Integrated Electricity Policy was developed after 24 years, attracting more than $2 2billiopn of fresh investments.

The minister noted that the policy had resulted in the activation of fifteen state electricity markets.

“Since the signing of the Accelerated Agreement at COP28 in Dubai in December 2023, an event you personally attended alongside the German Chancellor Olaf Scholz, the PPI has recorded notable milestones across its implementation phases.

\`\`Under the Pilot phase (Phase Zero), we have achieved significant infrastructure upgrades and capacity enhancements that are already impacting grid stability and reliability across the country.

\`\`Siemens Energy has successfully delivered and commissioned 10 units of 132/33kV mobile substations, three units of 75/100MVA transformers, and seven units of 60/66MVA transformers across key load centres nationwide, which have added 984mv of transmission capacity to the grid,” the minister stated.

Adelabu informed the President that in December 2024, the Federal Executive Council approved the commencement of the Engineering, Procurement, and Construction (EPC) contract for Phase One, Batch One of the PPI.

The minister stated that the scope encompasses the upgrade, installation, and commissioning of five key substations situated in Abeokuta, Offa, Ayede-Ibadan, Sokoto, and Onitsha.

\`\`I am pleased to report that plans for civil works mobilisation across all five locations have been finalised, concurrent manufacturing of the required equipment is ongoing, and two of the five substations are targeted for completion by the end of 2026.

\`\`As we consolidate the gains from the Pilot Phase and Phase One-First Batch, we are also preparing to advance to Phase One-Batch two, which has a scope for the construction of new substations and the upgrade of existing ones across key load centres nationwide. Collectively, Phase One -Batch Two of the PPI comprises a total of six (6) Brownfield and ten (10) Greenfield substations with a cumulative impact of 4,104MW”.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated that the completion of the PPI will enhance Nigeria’s ease of doing business, create more jobs for the youth, and reduce poverty.

The leader of the Siemens delegation, Siersdorfer, stated that two out of the five substations under construction are expected to be completed by December 2026.

He noted that a training centre was already under construction to ensure the training of local talents in electrical engineering, create more jobs, capture local content, and transfer technology.

“The PPI is not just a project but a platform for long-term development and prosperity,” he stated.

He informed the President that the PPI will transform Nigeria into a regional power hub, reflecting the depth of relations between Germany and Nigeria.

“Nigerian professionals will be engaged directly in the five project sites in Batch 1 for the site works, while thousands of jobs will be enabled in the local communities through purchased services, accommodation, and transportation, among others. These will further reflect the strength of our partnership and the viability of the roadmap we have built together,” Siersdorfer noted.

The German Ambassador’s representative, Johannes Lehne, assured President Tinubu of further support and collaboration with the German government.

The total number of active customers nationwide increased from 11.89 million in July to 11.96 million in August 2025, according to the Nigerian Electricity Regulatory Commission (NERC).

Released via its official X (formerly Twitter) and Instagram handles on Monday, the Commission’s latest Metering Factsheet for July and August 2025, noted that the updated active consumers data spreads across all 11 electricity distribution companies in the country.

“Out of these, 6.58 million customers were metered, resulting in a metering rate of 55.01%, up slightly from 54.71% in July. A total of 70,888 customers were newly metered in August, compared to 76,783 in July, reflecting ongoing metering efforts across the Nigerian Electricity Supply Industry (NESI),” the regulator stated.

The improved metering figures reflect ongoing reforms and investments in customer management by DisCos, aimed at enhancing billing transparency and consumer trust, according to NERC.

Eko, Ikeja, and Abuja DisCos were ranked among the top performers in metering coverage nationwide. Eko DisCo recorded a metering rate of 84.25%, Ikeja DisCo 84.83%, while Abuja DisCo stood at 73.92%.

In April, NERC penalised eight DisCos – including Abuja Electricity Distribution Company (AEDC), Ikeja Electric (IKEDC), Eko Electricity Distribution Company (EKEDC), Enugu Electricity Distribution Company (EEDC), Jos Electricity Distribution Company (JEDC), Kaduna Electric, Kano Electricity Distribution Company (KEDCO), and Yola Electricity Distribution Company (YEDC) – for failing to adhere to the monthly energy caps imposed on estimated billing for unmetered customers.

The Commission imposed a combined fine of over ₦628 million on the eight DisCos. In addition to the monetary penalties, NERC directed each company to provide credit adjustments to all affected customers.



Earlier, NERC reported that DisCos installed a total of 225,631 meters in the second quarter of 2025, marking a 20.55% increase compared to the 187,161 meters installed in the first quarter of the year.

According to NERC’s Q2 2025 report, of the total meters installed, 147,823 units (65.52%) were deployed under the Meter Asset Provider (MAP) framework, 65,315 meters under the Meter Acquisition Fund (MAF) scheme, 12,259 meters through the Vendor Financed framework, and 234 meters were installed under the DisCo Financed scheme.