news
Tinubu moves to resolve ₦4trn power sector debt, Says Onanuga

President Tinubu audience with Chairmen of Power Generation Companies in Nigeria held at the Presidential Villa Abuja yesterday
•From left: Managing Director, Sahara Group, Kola Adesina; Chairman, Heirs Holdings, Tony Elumelu; Chairman Association of Power Generation Companies, Col. Sani Bello (rtd); President Bola Ahmed Tinubu; Chief of Staff to the President, Femi Gbajabiamila; and president Tinubu audience with Chairmen of Power Generation Companies in Nigeria held at the Presidential Villa Abuja yesterday
Appeals for patience from GENCOs
Okays bond programme, promises transparency in verification process
President Bola Ahmed Tinubu has assured power generation companies (GENCOs) of his administration’s commitment to resolving the over ₦4 trillion in longstanding debts owed to them, pledging transparency and fairness in verifying the claims while appealing for patience.
The President gave this assurance during a high-level meeting with members of the Association of Power Generation Companies, led by retired Colonel Sani Bello, at the Presidential Villa yesterday.
According to a statement issued by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, the President acknowledged the gravity of the sector’s liquidity crisis and promised that the federal government would not shirk from its inherited obligations.
“I accept the assets and liabilities of my predecessors, and there is no question about that. But that acceptance must be on credible grounds. I need to wear the audit cap of verifiability, authenticity, and the fact that this inheritance is not a mere deodorant but a support structure for critical economic and industrial promotion,” President Tinubu said.
The President appealed to the GENCOs and their financial backers to give the government time to complete verification and validation of the debts, stating, “we are here. So market it to your other colleagues. Give us time to do verification and validation of the numbers.”
Reaffirming his commitment to a market-led electricity sector, Tinubu emphasised that historical challenges, long left unresolved, are now receiving active attention.
“This is a longstanding issue that is now being dealt with,” he said, referencing the government’s broader reform drive that includes eliminating fuel subsidies and promoting Compressed Natural Gas (CNG) alternatives.
The President also called for restraint from the financial sector regarding asset foreclosures against the GENCOs.
“To our friends in the banking sector, I ask that we avoid foreclosures. Sharpen your pencils, but keep an eraser handy. Let’s persevere together,” he urged.
In her briefing, the Special Adviser to the President on Energy, Mrs. Olu Verheijen, disclosed that a ₦4 trillion bond programme had received anticipatory approval from the President to tackle the liquidity shortfall in the sector.
However, she cautioned that only verified and legitimate debts would be accommodated.
Read Also: Education under Renewed Hope Agenda undergoing transformation – Shettima
“As of April 2025, the total exposure that we are carrying at the moment is ₦4 trillion. This is subject to downward revision pending final validation. Only amounts that the federal government validly owes are the things that will make it into the issuance by the DMO”, Verheijen said.
She attributed the massive debt pile-up to a combination of unfunded tariff shortfalls and market deficiencies that have built up since 2015.
Of the ₦4 trillion claimed by 27 GENCOs, the Nigerian Bulk Electricity Trading Company (NBET) has validated ₦1.8 trillion so far.
Highlighting the administration’s strides in power sector reform, Minister of Power, Chief Adebayo Adelabu, lauded the President for his hands-on approach and leadership.
“Your presence at this meeting is a clear testament to your unwavering commitment to the sustainability, stability, and long-term development of Nigeria’s power sector,” Adelabu said.
He noted that since President Tinubu took office, the administration has signed into law the Electricity Act, 2023—decentralising the power sector—and launched Nigeria’s first Integrated National Electricity Policy in 24 years.
Adelabu said reforms have boosted investor confidence, attracted over $2 billion in new private capital, and improved annual revenue collection by 70 percent—from ₦1 trillion in 2023 to ₦1.7 trillion in 2024—thereby reducing government subsidy obligations by over ₦700 billion.
On capacity expansion, he reported that installed generation capacity has grown from 13,000 MW to 14,000 MW, with a record 5,801 MW peak generation and a maximum daily energy delivery of 120,370 MWh recorded on March 4, 2025.
No grid collapse has occurred in 2025, he added.
He further disclosed progress in narrowing Nigeria’s metering gap through the ₦700 billion Presidential Metering Initiative and the World Bank-backed DISREP, which has so far delivered 300,000 of the 3.45 million smart meters procured.
Despite the reforms, Adelabu warned that the liquidity crisis remains a major threat, saying “Mr. President, given the grave implications of this debt overhang, including the risk of a nationwide shutdown of generation assets, I humbly seek your immediate support for defraying these obligations, even if partially, over a defined period.”
In their separate interventions, leading business figures Tony Elumelu and Kola Adesina echoed calls for urgent relief, citing the dire financial state of GENCOs and the need to unlock gas supply to sustain operations.
“Mr. President, we’ve come to you as a last hope. The generating companies are heavily indebted to banks, and foreclosure threats are real, not because we’re not doing our jobs, but because the system owes us trillions,” Elumelu said.
He commended President Tinubu for restoring stability in oil production and banking, saying, “before you took office in 2023, we lost 97% of our daily oil production. Today, we are retaining 98%. That’s transformation.”
On the energy crisis, Elumelu said “we don’t need power to complete your transformation—we need power to enable it. Power is critical to unlocking Nigeria’s full potential.”
Adesina, for his part, stressed that “liquidity is the oxygen of our business,” warning that generation output could stall without urgent intervention.
He proposed leveraging Nigeria LNG to unlock 800 million cubic feet of gas to boost supply to underperforming power plants, especially those in the Afam axis.
The meeting was attended by key cabinet members and officials, including the Chief of Staff to the President, Femi Gbajabiamila; Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun; Minister of Information and National Orientation, Alhaji Mohammed Idris; as well as regulatory authorities and major power sector stakeholders.
news
Update : TINUBU DEPARTS ABUJA FOR AQABA PROCESS MEETING IN ROME, SAYS ONANUGA

President Bola Tinubu will depart Abuja on Sunday, October 12, for Rome, the capital of Italy, to participate in the Aqaba Process Heads of State and Government Level Meeting, with special focus on the security crisis in West Africa.
The meeting, which will begin on October 14, will bring together Heads of State and Government, senior intelligence and military officials from African countries, and representatives of intergovernmental and non-governmental organisations to discuss the evolving security challenges in West Africa.
The Aqaba Process Meeting is a counter-terrorism initiative launched by King Abdullah II of Jordan in 2015. It is co–chaired by the Hashemite Kingdom of Jordan and the Italian Government.
It recognises the complex security challenges confronting West Africa, including the expansion of terrorist networks, the growing crime-terror nexus and the increasing overlap between land-based terrorism in the Sahel and the maritime piracy in the Gulf of Guinea.
At the meeting, participants will exchange assessments of the current security landscape in West Africa and foster collaboration between regional and international partners to address cross-border security challenges. Participants will also develop strategies to counter the terror threat on land and the sea.
The meeting will discuss ideas on how to coordinate efforts to combat online radicalisation and disrupt digital networks that facilitate terrorist propaganda and recruitment.
In addition to attending the plenary sessions of the Aqaba meeting, President Tinubu will hold bilateral talks with other leaders to explore ways of addressing the rising security challenges across the subregion.
The President will be accompanied by the Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu–Ojukwu, the Minister of Defence, Mohammed Badaru Abubakar, the National Security Adviser, Nuhu Ribadu, the Director-General of the National Intelligence Agency (NIA), Ambassador Mohammed Mohammed, and other senior government officials.
news
2027 Election : All is set for the collapse of the PDP in Enugu As Mbah, Others Join APC

…..Gov, lawmakers, party executives exit party enmasse
……Uncertainty over Suswam’s, ex-NAFDAC boss’ defection in Benue
…….PDP kicks, says govs being intimidated, coerced to defect
……Put your house in order, we’re not architect of your woes – APC
In a manner reminiscent of the defections that occurred in Delta and Cross River states earlier in the year, Governor Peter Mbah and all elected and appointive officers of the state are set to formally defect from the PDP to the All Progressives Congress (APC) on Tuesday next week.
The newly inaugurated Enugu State APC Caretaker Committee Chairman, Dr. Ben Nwoye, confirmed the development to newsmen at the APC National Secretariat in Abuja after taking the oath of office yesterday.
He made the disclosure during a press briefing by the newly inaugurated Enugu State Caretaker Committee.
Describing Mbah’s defection as the dawn of a new political era for Enugu and the Southeast region, Nwoye said the governor’s coming into APC would be “a merger between transformation and renewed hope.”
“For the past 10 years, Enugu State has remained in opposition. But all that ends on Tuesday when Governor Peter Mbah declares for the APC. And he is not coming alone,” Nwoye said.
According to him, the defection will signal a “historic alignment” as Mbah will be joined by 260 councillors, 24 state lawmakers, National Assembly members, and the entire state executive council—an unprecedented political realignment with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“Where Enugu goes, the Southeast goes. This marks the beginning of the Southeast’s political reawakening and full integration into national politics,” Nwoye said with a tone of confidence.
Commending the Governor Mbah’s performance in his last two years in office, Nwoye, who was the founding state chairman of the party, noted that his economic and infrastructural reforms had elevated the state to one of Nigeria’s top-performing states in internally generated revenue.
He added that the synergy between Mbah’s Transformation Agenda and President Tinubu’s Renewed Hope Vision would accelerate development and economic growth across the Southeast.
APC National Chairman, Prof. Nentawe Yilwatda, who inaugurated the seven-man caretaker committee for the party in the state, had earlier hinted of moves by the APC to strengthen its foothold in the Southeast.
The APC chairman charged the new Enugu leadership to consolidate the shock defection into a “lasting political conquest”
“APC is home for all. The person who came yesterday, today or tomorrow has equal rights.
Nigerian government services
Private refinery investment Nigeria
Digital trade agenda investment
“Our goal is simple: to expand, to win, and to deliver overwhelming victory in 2027,” Yilwatda said.
APC’s Deputy National Chairman (South), Emma Eneukwu, who is from the state, said the political development in the state marked the return of the Southeast region to national relevance.
“We will no longer play second fiddle. With Enugu in APC, the Southeast has found its voice again,” he declared.
Uncertainty over Suswam’s, ex-NAFDAC boss’ defection in Benue
There were strong rumours yesterday that Suswam, Orhii who currently serves as a member of the House of Representatives representing Agatu/Apa Federal constituency, Hon. Ojema Ojotu and former Benue North East Senator, Prof. David Iornem were set to join the APC in Benue State.
This was in spite of a statement issued by the media aide to Suswam dispelling the rumour that his boss had defected from PDP to the ruling party.
Banners and signposts announcing their official defection and pre-decamping dinner adorned major roads and streets in Makurdi, the state capital, yesterday.
It is the first time Suswam would defect to another party since joining politics in 1999.
The black cat, as the former governor is widely known first won an election to represent Katsina Ala, Logo and Ukum Federal Constituency in the House Representatives on the platform of the PDP.
After eight years in the House of Representatives, he was elected the governor of Benue State for another eight years also on the platform of PDP.
His first bid to go to the Senate, however, ended in a fiasco as he lost the election. He, however, made a second bid and won election into the Senate.
He had remained in PDP even after losing his re-election bid until yesterday when the news of his defection broke.
There was jubilation from Suswam’s massive camp of supporters yesterday on hearing that the former governor had defected to APC.
In Anyiin his country home and Ayilamo settlement, there was dancing and singing throughout the day, with shouts Dom Agya as Suswam is known in his ancestry home.
At press time yesterday, he was locked in a meeting with his supporters.
Our correspondence learnt that the meeting was meant to deliberate on the date for the defection ceremony.
But the media aide to Senator Suwswam, Bede Bartholomew, yesterday denied the claims that his boss had defected to APC.
Bartholomew however admitted that Governor Hyacinth Alia two days ago extended an invitation to Suwswam and other leaders for a banquet with him at Government House Makurdi.
A press statement he signed and made available to our correspondent yesterday reads: “Moments ago, I received telephone calls from well-meaning Benuelites and leaders alerting me to trending news on Benue’s social media space purporting that the former governor of Benue State, His Excellency Senator Gabriel Torwua Suswam, is set to defect to the All Progressives Congress (APC) today and would be received by the Governor of Benue State, His Excellency Governor Hyacinth Alia, this evening at the Banquet Hall of the Benue State Government House.
“I debunk this unholy rumour with all vehemence as it doesn’t represent the current interests of Senator Gabriel Suswam or that of his supporters across the state and should be treated as a mere rumour and that’s all.
“What I know is that two days ago, the Governor of Benue State HE. Rev. Fr. Hyacinth Alia respectfully extended an invitation to Sen. Suswam, among other stakeholders, expressing his desire to attend a State Banquet slated for 10th October, 2025.
“It should be noted that as a former Governor of the State, Suswam is a stakeholder in the Benue project, thus his reason for accepting the invitation.
“There was no indication in the invitation letter that it was a political event or a decamping ceremony whatsoever.
“The former governor advises his supporters and well-wishers to disregard this rumour as it is baseless, aimless, and a lie from the deepest pit of hell.
“Suswam appreciates everyone who called in for further enquiries and concerns and wishes everyone a happy weekend ahead.
Defections: Blame no one for your woes, says APC as PDP kicks
The ruling All Progressives Congress (APC) yesterday took a swipe at the Peoples Democratic Party (PDP), accusing the opposition party of being responsible for its woes as more of its members are dumping it for the governing party.
This came on the heels of plans by the PDP governor of Enugu State, Peter Mbah, and the entire elective and appointive officers of the state to defect to APC on Tuesday.
The PDP had on Thursday blamed the wave of defections from the party on APC, accusing the ruling party of engaging in intimidation and coercion of its elected members.
National Publicity Secretary of the party, Debo Ologunagba, while reacting to reports of the planned defection of some governors elected on the platform of the party to the APC, accused the ruling party for its misfortune.
“The APC is orchestrating all of this through intimidation, through coercion, through blackmail,” he said.
But APC National Publicity Secretary, Felix Morka, waved off the PDP allegation, insisting that the opposition party was only crying over a self-inflicted problem.
Dismissing the PDP allegation, Morka said: “The PDP continues to ridicule itself by the boring, repetitive and baseless claim that APC is, somehow, intimidating or cajoling its governors and other senior members to dump their wreck of a party.
“The PDP is the sole maker of its own political predicament. The party is only harvesting well-deserved adversity from decades of political recklessness, mindless corruption, ruthless desecration of democracy, disgraceful failure of leadership, and destructive impunity that characterised its existence.”
Justifying the defection to APC, Morka argued that “the governors and members that are dumping the party in their numbers are doing so in exercise of their free democratic will, and wisely so, to mitigate against the devastating fate that Nigerians will deal the party in the upcoming 2027 elections.”
news
Update : Police Arrest Armed Robbers Allegedly Involved in Death of Arise TV Anchor, Somtochukwu

Police arrest armed robbers involved the killing of Somtochukwu Maduagwu
There are indications that 12 of the armed robbers involved the operation leading to the death of Arise News anchor, Somtochukwu Maduagwu have been arrested.
Somtochukwu Maduagwu, an anchor at Arise TV News panicked and jumped to her death after heavily armed robbers besieged her Katampe Extension home in Abuja.
It was reported that the robbers numbering about 15, well-armed, upon arriving the 18 blocks apartment estate, split themselves into groups and began robbing from flat to flat when 29 year old Sommie panicked and jumped down from her balcony to escape them before they arrived at her flat.
Our correspondence reports that attempts were made on the spot to revive her by a neighbor who gave her CPR before she was thereafter, rushed to the Maitama General Hospital where after trying to breathe life into her to no avail, the Doctors on duty declared her dead- on-arrival.
However, in a recent development, a Police EIB report released moments ago, indicates that 12 of the 15-armed robbery gang have been arrested by the Police in the Federal Capital Territory (FCT) Police.
Below is the EIB report released on Thursday…
Armed Robbers Involved In The Robbery That Led To The Death of Arise News Staff, Somtochukwu Maduagwu Arrested
According to the Police, the suspects are:
1. Shamsudeen Hassan ‘m’ from Malumfashi LGA Katsina state
2. Hassan Isah ‘m’, 22 years from Zaria kaduna State
3. Abubakar Alkamu a.k.a. abba ‘m’, 27 years from Musawa LGA katsina state
4. Sani Sirajo a.k.a. dan borume ‘m’ 20 years from Malumfashi LGA katsina state
5. Mashkur Jamilu a.k.a. abba ‘m’ 28 years from Igabi LGA kaduna state
6. Suleiman Badamasi a.k.a. dan-sule ‘m’ 21 years from Malumfashi LGA katsina state
7. Abdul Salam saleh a.k.a. na-durudu ‘m’ from katsina lga katsina State
8. Zaharadeen Muhammad a.k.a. gwaska ‘m’ 23 years from chikun lga kaduna state
9. Musa adamu a.k.a. musa hassan ‘m’ 30 years from malumfashi lga katsina state
10. Sumayya Mohammed a.k.a. baby ‘m’ 27 years from Sammaka LGA, Kaduna state
11. Isah Abdulrahman a.k.a. abbati ‘m’, 25 years from Zaria LGA, Kaduna state
12. Musa Umar a.k.a. small ‘m’ 31 years from Maiduguri LGA Borno state.
Shortly after the robbery incident, four (4) of the suspects shamsudeen hassan, alkamu, sirajo and one other person were apprehended through the tracking of phones stollen from the apartment during the robbery.
During interrogation, Shamsudeen Hassan confessed that he shot the security guard when he attempted to prevent them from gaining access to the apartment. Sani Sirajo confessed to have tried to hold Somtochukwu Christella Maduagwu from falling off the three-storey building but was overwhelmed by her weight. Shamsudeen further confessed that he drove the white honda CR-V jeep out of the apartment after the operation. The four suspects admitted that they each received ₦200,000 from the proceeds of the crime.
Recovered exhibits include:
One (1) fabricated ak-47 rifle
Thirty-six (36) rounds of 9mm live ammunition
One (1) locally made pistol
One (1) pump-action gun
Two (2) live cartridges
Four (4) mobile phones of the victims
Two (2) sharp knives
One (1) cutlass
Nine (9) torchlights used during the operation
In continuation of investigations, yesterday, 08/10/2025, acting on a tip-off and actionable digital intelligence also provided by us, the remaining members of the gang, Musa umar a.k.a. small, Hassan Isah and other accomplices involved in the Gishiri robbery were intercepted while enroute to an already planned armed robbery operation scheduled to hold at maitama in the early hours of this morning.
All suspects have confessed to the crimes, investigation is ongoing.
-
news5 years ago
UPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle5 years ago
Former Miss World: Mixed reactions trail Agbani Darego’s looks
-
health5 years ago
Chairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
lifestyle4 years ago
Obateru: Celebrating a Quintessential PR Man at 60
-
health5 years ago
UPDATE : Nigeria Records 790 new cases of COVID-19
-
health5 years ago
BREAKING: Nigeria confirms 663 new cases of COVID-19
-
entertainment9 months ago
Ashny Set for Valentine Special and new Album ‘ Femme Fatale’
-
news5 months ago
BREAKING: Tinubu swears in new NNPCL Board