news
Breaking : 10 years Failure, DisCos renewals will not be automatic, the power sector privatisation failed, Says Tinubu
Ten years after the partial privatisation of the Nigerian Electricity Supply Industry, NESI, the Federal Government, on Monday, admitted that the exercise had failed to meet its objectives.
The government described as shameful the current generation, transmission and distribution level of just over 4,000 Megawatts.
Speaking in Abuja at the 2023 NESI Market Participants and Stakeholders Roundtable, NMPSR, President Bola Tinubu said after 10 years of privatisation about 90 million Nigerians were still without power supply.
The three-day conference has as theme: ‘NESI privatisation and its 10-year milestone: the journey so far, opportunities and prospects’.
Represented by the Special Adviser, Energy and Infrastructure, Office of the Vice President, Mr Sodiq Wanka, President Tinubu noted that the investments expected from the private sector never came.
According to him, “the key objectives of the privatisation effort were to improve the efficiency of the power sector, unlock private sector investments and unleash the potential of the nation through an energized economy.
“10 years on, I believe it is fair to say that the objectives of sector privatisation have by and large, not been met.
“Over 90 million Nigerians lack access to electricity. The national grid only serves about 15% of the country’s demand. This has left households and factories to rely on expensive self-generation, which supplies a staggering 40% of the country’s demand.
“What is worse, the total amount of electricity that can be wheeled through the national grid has remained relatively flat in the last 10 years.
“The grid capacity has increased from just over 3000Mw to typically just over 4,000Mw today. Versus a 40,000Mw target by 2020 that the Federal Government had set pre-privatisation.”
Blackout as Nigeria’s electricity generation drops 93.5% to 273MW
‘No automatic renewal of licence’
On his part, the Minister of Power, Mr. Adebayo Adelabu expressed misgivings over the decision of the past government to embark on privatisation, noting that commercialisation would have been the best option.
Mr Adelabu stated that the licences granted to investors in the assets would not be automatically renewed until they prove that they have met the terms contained in the original licence.
According to him, “The question for everyone is: have we achieved the objectives of the privatisation on the scale of 0-100? I will say no.
“Which is why it is pertinent for all the players in the industry to come to a roundtable to discuss the reasons for the failures and steps to be taken to remedy this.”
He noted that the government ought to have commercialised the sector in 2013.
The Minister pointed out that “most countries throughout the world do not privatise their electricity supply value chain, from generation to transmission and distribution.
“But, bad enough that we have done this, how can we work around the current status to achieve our priorities and objectives? This is not a job for one person or entity but it requires collaboration from all players.”
Chief Adelabu warned that at the expiration of operational licences of the distribution companies, DisCos, renewals will not be automatic.
“Ten years down the line, the licences are expiring and it is now the time for renewals. Renewals are not automatic. Any of the privatised company that has not lived up to expectations will not have its licence renewed,” he stressed.
In his remarks, the Senate President, Godswill Akpabio pointed out that while the sector had been acknowledged as critical to the economic growth of the country, not much has been achieved.
Senator Akpabio who was represented by the Chairman of the Senate Committee on Power, Eyinaya Abaribe, noted that while some progress has been made, the objective of improving power supply to Nigerians has remained unmet.
He said the parliament was committed to backing the sector with laws that would create the best business environment for the sector, adding that an amendment of the 2023 Electricity Act was underway that would take into cognizance of the latest developments in the industry.
Earlier, the Chairman of, the Conference Organising Committee, Prof. Stephen Ogaji described the challenges facing the power sector as formidable.
Prof Ogaji pointed observed that “without a doubt, the energy sector is the heartbeat of any thriving economy, and the NESI Roundtable demonstrates our collective commitment to advancing this critical sector.
“We gather here today as representatives from various sectors — public and private, regulatory bodies, investors, technocrats, and visionaries — all driven by a shared purpose, which is to enhance and shape the trajectory of Nigeria’s energy future.”
news
JUST IN: Court Nullifies Atiku’s Candidacy, Sacks Mark-Led ADC NWC Ahead of 2027 Elections
![]()
*Says ADC’s leadership that produced him, other candidates illegal
A Federal High Court in Abuja has nullified the process that led to former Vice President Atiku Abubakar’s emergence as the African Democratic Congress (ADC) presidential candidate for next year’s presidential election. FollowPolitics
In a judgment on Thursday, Justice Peter Lifu also voided the emergence of former Senate President David Mark, ex-Governor of Osun State Rauf Aregbesola, and others as ADC national officers.
Justice Lifu also voided the nominations of all ADC candidates for the 2027 general elections, holding that they emerged from the ADC’s illegal and unlawful leadership.
The judgment was delivered in a suit brought by an aggrieved ADC Deputy National Chairman, Nafiu Bala Gombe.
The judge upheld Gombe’s contention that David Mark and Rauf Aregbesola emerged as party leaders through an unlawful and illegal process.
Justice Lifu set aside all actions taken by the Mark-led leadership in the name of ADC, holding that they were unlawful.
Details shortly…
news
Breaking : End of an Era: Five-Time Ballon d’Or Winner Cristiano Ronaldo Retires from International Football at 41
Portuguese Legend Bows Out After 23 Years, 146 Goals and 234 Appearances for Portugal
Portuguese football superstar Cristiano Ronaldo has announced his retirement from international football at the age of 41, bringing an end to an illustrious 23-year career with the Portugal national team.
The five-time Ballon d’Or winner made the announcement on Thursday, November 5, 2026, through an emotional video message shared on his social media platforms.
Ronaldo, widely regarded as one of the greatest footballers of all time, said the time had come to hand over Portugal’s iconic No. 7 shirt to the next generation of players.
The former Real Madrid, Manchester United and Juventus forward retires from international football as the highest goalscorer in men’s international football history, with an outstanding record of 146 goals in 234 appearances for Portugal.
His international journey began in August 2003, when he made his senior debut for Portugal as an 18-year-old. Over the following 23 years, he became the country’s most recognisable football figure and one of the most influential captains in the history of the national team.
One of the greatest moments of his international career came in 2016, when he captained Portugal to its first-ever UEFA European Championship title.
Portugal defeated host nation France 1-0 after extra time in the final, despite Ronaldo being forced off the pitch through injury in the first half. His leadership and encouragement from the sidelines remained an important part of the historic victory.
He also helped Portugal win the UEFA Nations League in 2019 and 2025, bringing his major international trophy haul with the country to three.
In his farewell message, Ronaldo reflected on his remarkable journey, describing wearing Portugal’s No. 7 shirt for 23 years as a privilege and responsibility.
He said the decision was not easy because it involved both his head and his heart, adding that it was time to pass the responsibility to the next generation.
Ronaldo leaves behind extraordinary records, including the most international appearances and goals in men’s football. He also became the first male player to score at six different FIFA World Cup tournaments.
Beyond his international achievements, the five-time Ballon d’Or recipient enjoyed a remarkable club career, winning multiple domestic league titles and five UEFA Champions League trophies.
His retirement marks the end of a significant chapter in Portuguese and world football, with his achievements, leadership, goalscoring records and commitment to his country likely to remain an inspiration to future generations.
Although he has ended his international career, Ronaldo’s legacy as one of football’s greatest-ever players remains firmly established.
Portugal will now look towards a new generation of players to carry forward the legacy of its legendary No. 7.
news
After Umrah, Tinubu Bids Farewell to Saudi Arabia, Returns to Abuja, Says Onanuga
![]()
… Prays for Nigeria’s peace, unity, security, prosperity
… Holds farewell meeting with Makkah Deputy Governor
President Bola Ahmed Tinubu departed Saudi Arabia for Abuja on Wednesday after completing his Umrah pilgrimage in the holy city of Makkah, where he offered special prayers for Nigeria’s peace, security, unity and prosperity.
The President’s aircraft took off from the Royal Terminal of King Abdulaziz International Airport, Jeddah, at exactly 5:13 p.m. Saudi time, bringing his spiritual visit to the Kingdom to an end.
According to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu was seen off at the airport by the Deputy Governor of Makkah Region, Prince Saud bin Mishaal bin Abdulaziz Al Saud; Nigeria’s Ambassador to Saudi Arabia, Yakubu Gambo; and the Consul-General, Ambassador Muazam Ibrahim Nayaya.
Before his departure, the President held a brief farewell meeting with the Deputy Governor of Makkah at the Royal Guest Palace within the airport.
Tinubu, who arrived in Saudi Arabia last Thursday, led members of the Nigerian delegation in performing the Umrah rites, including circumambulation of the Holy Ka’abah.
A major highlight of the pilgrimage was Sunday’s rare opportunity granted to the President and members of his delegation to enter the sacred Ka’abah, where they performed two raka’at prayers.
During the spiritual exercise, Tinubu offered supplications to Almighty Allah for enduring peace, improved security, national unity and economic prosperity, while seeking divine wisdom, guidance and strength to discharge his responsibilities to Nigerians. Nigerianews subscription
He also prayed for divine blessings upon the country, its leaders and citizens, expressing hope that Nigeria’s ethnic, religious and cultural diversity would become a source of national strength, cohesion and shared prosperity.
The President described the pilgrimage as an opportunity for spiritual reflection, thanksgiving and renewed dedication to the task of building a peaceful, united and prosperous Nigeria. Nigerianews subscription
He expressed appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Crown Prince Mohammed bin Salman for the hospitality and special courtesies extended to him and his delegation.
Tinubu particularly acknowledged the rare privilege of accessing the Holy Ka’abah, describing the opportunity to pray within the sacred structure as spiritually significant. FollowPolitics
According to the statement, the President concluded the pilgrimage with renewed faith, gratitude to Almighty Allah and a strengthened resolve to pursue his administration’s Renewed Hope Agenda.
Onanuga said Tinubu remained committed to translating Nigerians’ aspirations into tangible improvements in living conditions and building a better country for all. Nigerianews subscription
The presidential delegation included the National Security Adviser, Mallam Nuhu Ribadu, and the governors of Sokoto, Jigawa, Kaduna, Borno and Yobe states, among other senior government officials.
The President’s return concludes a visit that combined religious observances with prayers for national stability, improved security and the success of ongoing efforts to reposition Nigeria for sustainable growth and development.
-
news6 years agoUPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle6 years agoFormer Miss World: Mixed reactions trail Agbani Darego’s looks
-
news8 years ago
-
health6 years agoChairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
lifestyle5 years agoObateru: Celebrating a Quintessential PR Man at 60
-
news1 year agoBREAKING: Tinubu swears in new NNPCL Board
-
health6 years agoUPDATE : Nigeria Records 790 new cases of COVID-19
-
society3 years agoBisbam CEO, Abisola Bamidele, Bags Owu Chieftaincy Title