NEWS
Hope For Nigerians As Tinubu Approves ₦3.3tn To Fix Electricity Crisis
President Bola Ahmed Tinubu has approved a ₦3.3 trillion payment plan aimed at addressing Nigeria’s long-standing electricity challenges, raising fresh hopes for improved power supply across the country.
The approval, announced by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, is part of the Presidential Power Sector Financial Reforms Programme designed to settle outstanding debts owed to stakeholders in the electricity value chain.
According to the presidency, the debts—accumulated between 2015 and 2025—have been a major obstacle to efficient power generation and distribution.
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After a comprehensive review and verification process, the government pegged ₦3.3 trillion as the final settlement figure.
The statement revealed that implementation of the plan is already underway, with 15 power generation companies signing agreements valued at ₦2.3 trillion.
So far, the Federal Government has raised ₦501 billion to fund the initiative, with ₦223 billion already disbursed, while additional payments are ongoing.
Nigeria has struggled with persistent electricity shortages for years, with frequent national grid collapses leaving millions of homes and businesses in darkness.
As a result, many Nigerians rely heavily on petrol and diesel generators, significantly increasing the cost of living and doing business.
Officials say the intervention will improve liquidity within the power sector, ensure prompt payment to gas suppliers, and enable generation companies to operate more efficiently.
Special Adviser on Energy to the President, Olu Arowolo-Verheijen, noted that the initiative goes beyond debt repayment, describing it as a critical step toward restoring confidence in the sector and ensuring more reliable electricity supply.
She added that the government is also pursuing broader reforms, including improved metering and service-based tariffs tied to power supply quality, while prioritising electricity for industries and small businesses to drive economic growth.
However, the move has drawn criticism from the Nigeria Labour Congress, which previously opposed large-scale financial interventions in the sector.
The union, led by Joe Ajaero, argued that such bailouts may not translate into improved electricity supply, citing concerns over the performance of the privatised power companies.
Despite the concerns, the Federal Government insists the programme will mark a turning point in Nigeria’s power sector, with the next phase of the reform expected to commence later this year.
The administration expressed optimism that the initiative will ultimately deliver more stable electricity to homes and businesses, easing economic pressures and improving living conditions for Nigerians.
NEWS
Political Earthquake Brewing? Peter Obi, Bala Mohammed in Closed-Door Talks
Former Labour Party presidential candidate in the 2023 general election, Peter Obi, on Thursday visited Bauchi State for a closed-door meeting with Governor Bala Mohammed amid growing political realignments in the country.
Obi, who is also a chieftain of the African Democratic Congress (ADC) opposition coalition, arrived at the Bauchi State Government House where he proceeded to a private meeting with the governor at the Presidential Lounge.
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The purpose of the visit was not immediately known as both politicians held discussions behind closed doors.
Details of the meeting remained undisclosed at the time of filing this report.
However, sources within the Government House suggested that the meeting may be connected to recent political developments and possible alignments ahead of future elections, though this could not be independently verified.
Both leaders are expected to brief journalists after the meeting concludes.
Governor Bala Mohammed, who serves as Chairman of the Peoples Democratic Party (PDP) Governors’ Forum, has recently been at the center of political speculation regarding his party allegiance.
On March 31, he reportedly hinted at a possible political shift during a meeting with a delegation of the African Democratic Congress led by former Secretary to the Government of the Federation, Babachir Lawal, at the Government House in Bauchi.
However, his political engagements appeared to take a different turn shortly after, as he also hosted the National Chairman of the All Progressives Congress (APC), Nentawe Yilwatda, alongside Kano State Governor, Abba Yusuf, on April 1 at the same venue.
The latest meeting with Obi has further intensified speculation about ongoing political consultations and possible future alignments among key political actors.
NEWS
JUST IN: Nigeria’s Debt Profile Set to Rise as Tinubu Requests Fresh $516m Foreign Loan
President Bola Tinubu has requested the approval of the Senate for a fresh external borrowing of $516.33 million, in a move that is expected to further raise concerns over Nigeria’s growing debt profile.
The request was contained in a letter addressed to the President of the Senate, Godswill Akpabio, and was read during plenary on Thursday at the National Assembly.
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According to the letter, the proposed loan is to be sourced from Deutsche Bank and will be used to finance a key infrastructure component under the government’s already approved borrowing programme—the Sokoto–Badagry Super Highway project, a major road corridor designed to enhance connectivity across the country.
President Tinubu, in the request, urged the Senate to give the proposal expedited consideration and approval, stressing the importance of the project to national infrastructure development and economic growth.
Following the reading of the letter, Senate President Akpabio referred the request to the Senate Committee on Local and Foreign Debts, directing the committee to examine the proposal and submit its report within one week.
The latest borrowing request comes amid ongoing national debates over Nigeria’s debt sustainability, as the federal government continues to rely on external loans to fund large-scale infrastructure projects.
NEWS
Shock as Court Rejects El-Rufai’s Bail Application, Orders Continued Detention
A Kaduna State High Court has rejected the bail application filed by former Kaduna State Governor, Nasir El-Rufai, ordering that he remain in the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) pending the determination of his trial.
The ruling was delivered by Justice D.H. Khobo, who held that the seriousness of the allegations against the former governor, as well as concerns over possible interference with ongoing investigations, made the grant of bail inappropriate at this stage.
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El-Rufai had approached the court seeking release on bail pending trial over a nine-count charge filed by the Federal Government through the Independent Corrupt Practices and Other Related Offences Commission.
He argued that the offences were not capital in nature and that he posed no flight risk, citing his community ties, fixed residences, and willingness to cooperate with investigators.
He also told the court that he voluntarily returned to Nigeria to honour official invitations and challenged the validity of the charges, describing them as defective.
Additionally, he raised health concerns, requesting bail on medical grounds.
However, the prosecution opposed the application, insisting that the alleged offences were serious and economically damaging, with a likelihood that the defendant could interfere with witnesses and ongoing investigations.
In his ruling, Justice Khobo held that the gravity of the charges and the risk of interference outweighed the arguments for bail.
The court also ruled that insufficient medical evidence had been provided to justify release on health grounds.
The judge therefore ordered that El-Rufai remain in ICPC custody and directed that the trial proceed on an accelerated basis, fixing early hearing dates for the case.
The former governor will remain detained as proceedings continue in the high-profile corruption trial.





