Category Nigeria News

Over the N4 trillion debt in the power sector, President Bola Tinubu will meet with the CEOs of the power-generating companies.

Following Tuesday’s high-stakes discussions between Adelabu and the chairmen of the Generating GenCos in Abuja, Bolaji Tunji, the Special Adviser, Strategic Communications and Media Relations, issued a statement to the Minister of Power, Bolaji Tunji, on Sunday.

He claimed that the government’s intervention is intended to stop the country’s power infrastructure from crashing out right away.

The minister assured GenCos executives in the statement that the government would prioritize making significant payments out of the N4tn debt while reimbursing the money with other debt instruments.

He claimed that a meeting between President Tinubu and the leadership of GenCos would make this suggestion.

“A sizable portion of the debt needs to be paid in cash,” the statement states. Let’s say we make a sizable deposit, then request a promissory note as a debt instrument to cover the remainder.

He used financial instruments, such as promissory notes, to guarantee the payment of the outstanding balance in six months.

“We acknowledge the urgency of this issue. Adelabu stated that the government would meet with GenCos leadership to discuss the matter and that the government would work with them to stabilize the sector and stop further crises.

Col. Sani Bello, the chairman of Mainstream Energy Solutions and the chairman of the Association of Power Generating Companies (APGA), who had earlier raised the alarm about the sector’s dire state, citing the N4tn debt as a pressing threat to operations, as the head of the GenCoS.

He also reaffirmed that GenCos were unable to secure loans or maintain infrastructure due to liquidity issues. He argued that the entire power ecosystem could collapse without immediate intervention.

READ ALSO: Oil Prices Fall Over 3% Following the OPEC+ Output Hike.

This is a national emergency, according to Kola Adesina, the chairman of Egbin Power and First Independent Power Limited. Power is everything, including hospitals, homes, and industries. We can’t afford to see the sector fail.

Adelabu pledged to carry out reforms to reduce operational bottlenecks as well as to pay off the government’s role in the sector’s struggles. He urged Nigerians to adopt cost-reflective tariffs in order to fully liberalize the power sector.

Citizens are required to pay the appropriate price for energy consumed. Nigerians who are economically disadvantaged will continue to receive targeted subsidies from the Federal Government. He argued that we must grasp that subsidies cannot be resisted indefinitely and that public awareness campaigns must be conducted to encourage compliance.

APGC Power CEO Dr. Joy Ogaji went into great detail about the systemic issues that plague GenCos, including persistent late payments, unpredictable gas prices, and volatile foreign exchange rates.

She noted that maintenance budgets and loan repayments were hampered by the naira’s drop from 157/$ in 2013 to 1,600/$ in 2014 (nbsp).

While remaining patriotic, she claimed that “genCos have borne unsustainable risks from grid failures to unproductive taxes.”

The minister gave recommendations for ensuring that the sector’s transition to sustainability, including regulatory reviews to lower levies and promote market stability.

 The Nigeria Education Loan Fund (NELFUND) insists no money is missing from the student loan scheme despite claims to the contrary. 

A recent report had alleged that some schools were diverting money meant for the scheme operated by NELFUND. That prompted the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to launch an investigation into the matter.

However, NELFUND’s Managing Director and Chief Executive Officer (CEO), Akintunde Sawyerr, said the fund has a clean bill of health.

“We are all looking for this so-called money. First of all, let me be very clear. No money has been stolen. The President, in his wisdom and well-intentioned programme, decided that he was going to set up the Nigeria Education Loan Fund,” Sawyerr said on Channels Television’s Sunday Politics.

“But let me go back and just continue to correct this misconception. No N71bn is missing,” Sawyerr insisted.

READ ALSO [Student Loan] NELFund Denies Alleged Corruption, ICPC Clarifies Statement

He added, “So the funds that we’ve been given are to bridge the gap for those who don’t have the money to be able to attain the education. No money is missing. No money has been stolen. There had been some issues with what happened at this phase, where human intervention comes in.”

“No money is missing. No money has been stolen. There’d be some issues with what happens at this phase, where human intervention comes in,” the NELFUND boss said.

Since the inception of the scheme, some parents and students have complained of delayed payment, and in many instances, the money has not been getting to the beneficiaries.

The NELFUND chief, however, said funds are not disbursed to the students.

“Let me correct a misconception there. There is no disbursement from the NELFUND account through the schools to the students. The NELFUND money goes to the schools for their tuition or institutional charges. The schools are supposed to give unfettered access to the students for classes.

“The schools do not disburse to the students, except in the case where the student has already paid their fees, in which case there has been a double payment,” he said.

Despite claims that the contrary, The Nigeria Education Loan Fund (NELFUND) insists that no money is missing from the student loan program. &nbsp,

According to a recent report, some schools were diverting money from the NELFUND-run program. The Independent Corrupt Practices and Other Related Offenses Commission (ICPC) launched an investigation into the matter in response to that.

Akintunde Sawyerr, the fund’s Managing Director and CEO, claimed the fund has a current health situation.

“We are all searching for this phony currency,” the statement read. Let me start by being very clear. There hasn’t been any theft. On Channels Television’s Sunday Politics, Sawyerr stated that the President made the decision to establish the Nigeria Education Loan Fund in his wisdom and good intentions.

“But let me turn around and just keep correcting this misunderstanding.” No N71 billion is missing, he resisted Sawyerr.

NELFund denies allegations of corruption, and the ICPC makes a statement clear.

He continued, “The funds that we’ve been given are to bridge the gap for those who don’t have the money to get the education.” No money has been lost. There hasn’t been any theft. There were some issues with what transpired at this point, which calls for human intervention.

No money has been missing,” the statement read. There hasn’t been any theft. The NELFUND boss said there might be some issues with what transpires at this point, which would require human intervention.

Some parents and students have complained about delayed payment since the scheme’s inception, and in many cases, the funds haven’t been reaching the beneficiaries.

However, the NELFUND chief claimed that the funds are not being distributed to students.

“Let me correct that misperception here. The students are not reimbursed for the NELFUND account through the schools. The schools receive funding for their tuition or fees at the institution. The instructors are supposed to give students unrestricted access to classes.

He said, “The schools do not disburse to the students, except in cases where the student has already paid their fees, and there has been a double payment.

Dele Farotimi, a human rights lawyer, insists he will support Peter Obi if the former governor of Anambra State runs for president despite claims that 2027 polls distract him. &nbsp,

Farotimi made the comment on Channels Television’s&nbsp, Sunday Politics while he was a guest.

Watch his interview at  .

The prime suspect in the killing of 65-year-old Jane Okoye has been detained by the Lagos State Police Command’s Homicide Section.

The Lagos Police Command’s Public Relations Officer, Benjamin Hundeyin, stated in a statement on Sunday that the incident took place in the South-West state’s Orile Iganmu on April 2, 2025.

Read more about Police holding officers in connection with a suspected detainee’s murder in Kebbi.

Hundeyin cited a preliminary investigation that revealed Abubakar Iliyasu had allegedly eluded the victim’s Toyota Sienna vehicle and forcibly gained access to her home. The victim later passed away after being discovered unconscious in a medical facility.

A team of homicide detectives immediately took action, using both intelligence and technical resources, to apprehend the suspect and retrieve the stolen property, he added.

Read more: Police Arrest Three Suspect Kidnappers, Rescue Two Ghanaians

The detectives made good on their efforts, with Iliyasu, the main suspect, being interrogated and detained in Ankpa, Kogi State, who had fled with the deceased’s car and other personal belongings. In the ongoing investigation, the vehicle was recovered in good condition and used as evidence.

READ MORE: &nbsp, Nigerian Army’s “Fierce” Battle Against ISWAP in Yobe

The suspect is currently being detained at the SCID, Yaba, Lagos State, where he assists law enforcement with pertinent information.

Olohundare Jimoh, the police commissioner in Lagos State, assured the public that the suspect would face charges after the investigation was finished.

Also read:   Troops Kill Five Bandit Leaders In Zamfara; Recover Weapons

The All Progressives Congress (APC) and the members of the parallel Zamfara State House of Assembly under the factional Speaker, Bashar Aliyu Gummi have rejected and condemned what they described as a politically motivated court order for the arrest of nine lawmakers.

In separate statements issued on Sunday in Gusau, the APC and the factional assembly accused the state government of weaponising the judiciary to intimidate elected representatives for performing their legislative duties and questioning perceived lapses in the executive arm.

According to Yusuf Idris, the APC Publicity Secretary in Zamfara State, the Chief Magistrate Court presided over by Justice Halima Jaafar Mikaila ordered the arrest of the lawmakers without issuing a prior summons or charge, despite the matter being subject to an appeal at the Court of Appeal in Sokoto.

“It is disturbing and embarrassing to see the judiciary being used as a tool to silence lawmakers who are pointing out issues of public concern. We call on Governor Dauda Lawal to end the harassment and engage the aggrieved members in dialogue”, he stated.

READ ALSO: Rivers APC Crisis Deepens As Factions Clash Over Court Ruling

The APC maintained that it would continue to uphold the rule of law and resist any form of political intimidation, especially against members who have raised concerns about insecurity in their constituencies.

Similarly, members of the parallel House of Assembly led by Hon. Bashar Aliyu Gummi decried what they termed “malicious persecution” by the state government.

In a statement signed by Hon. Aliyu Ango Kagara, the lawmakers insisted that they remain legitimate representatives of their constituents and would not be deterred by threats or what they described as “politically twisted legal actions”.

“We are committed to our mandate and the people we represent. No amount of intimidation, including biased court orders or threats to our lives, will stop us”, he stated.

The faction also alleged plans to attack them and their families, claiming they had already alerted security agencies and provided evidence of the threats.

While both parties acknowledge that some efforts had been initiated by past assembly leaders to mediate the crisis, they condemned the state government’s decision to seek an arrest order from a lower court despite ongoing legal proceedings at the appellate level.