In a significant move to address the mounting financial strain in Nigeria’s power sector, the Federal Government has announced plans to settle ₦2 trillion of the ₦4.7 trillion debt owed to electricity generation companies (GenCos) by the end of 2025. This initiative aims to prevent potential power plant shutdowns and ensure the continuity of the
Former presidential candidate Peter Obi has raised the alarm over heightened insecurity in Nigeria, while President Bola Tinubu is retreating in France when dozens of people are killed across the country. In a statement on X on Wednesday, Mr Obi charged Mr Tinubu, who is on a “working visit” to France, to “quickly suspend whatever
Members of the NNPC Staff Cooperative Multipurpose Society are calling for urgent intervention amid growing concerns about financial mismanagement, illegal interference, and disregard for court orders within their organization. The controversy revolves around an alleged N806 million discrepancy in the cooperative’s 2022 financial records. Despite ongoing demands from members, the Management Committee has reportedly failed
Quadri Alabi, the teenager who became a viral sensation during the 2023 presidential campaign for boldly standing in front of Peter Obi’s convoy, has finally been released after spending close to three months behind bars. A Magistrate Court in Apapa, Lagos, cleared him of all charges on Thursday, April 17, following legal advice from the
The Lagos State High Court has ruled that the removal of Mudashiru Obasa as Speaker of the Lagos State House of Assembly was illegal and unconstitutional. The court made this decision on Wednesday afternoon and confirmed that Obasa remains the only legally recognized Speaker. The ruling also nullified the Assembly’s plenary session where Obasa was
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says Nigeria has significantly reduced its Premium Motor Spirit (PMS) importation. The chief executive officer of NMDPRA, Farouk Ahmed, said this during the Meet-the-Press briefing series organised by the Presidential Communications Team (PTC) at the State House in Abuja on Tuesday. Mr Ahmed said the county’s
The Nigerian Red Cross Society (NRCS), Yobe Branch, has shared N77,000 to each of the 1,000 victims of the 2024 flood disaster in three local government areas (LGAs) of the state. The News Agency of Nigeria (NAN) reports that the LGAs include Each beneficiary from Fune, Bursari, and Gulani LG received an Automated Teller Machine
While many were minding their business, hustling through the month, thousands of Nigerians were quietly watching their money disappear, literally. The now-infamous digital investment platform CBEX has reportedly crashed, vanishing with over ₦1.3 trillion of investors’ funds in what’s shaping up to be another massive Ponzi scheme. Promising a sweet 100% return in just 30
Lagos State Deputy Governor, Obafemi Hamzat, is not smiling, and honestly, who would be if your electricity bill jumped from N2.7 million in March to a jaw-dropping N29 million in April? Speaking at a roundtable event with the Rural Electrification Agency (REA) on Victoria Island, Hamzat didn’t hold back. He shared his experience with Nigeria’s
President Bola Tinubu on Monday declared a national emergency on food security, calling for expanded irrigation infrastructure and participatory water resource management across the country. Tinubu made the declaration while opening the 6th African Regional Conference on Irrigation and Drainage in Abuja. The President who was represented by the Secretary to the Government of the
