News
Tinubu Okays ₦3.3tn Repayment Plan To Stabilise Power Supply
President Bola Tinubu has approved a ₦3.3 trillion payment plan aimed at settling long-standing debts in Nigeria’s power sector, in a move expected to improve electricity supply and restore investor confidence.
The development was disclosed in a statement issued on Sunday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
According to the statement, the approval followed a final review of legacy debts accumulated under the Presidential Power Sector Financial Reforms Programme over 10 years, spanning February 2015 to March 2025.
“Following verification, ₦3.3 trillion has been agreed as a full and final settlement, ensuring a fair and transparent resolution,” the statement partly read.
The government noted that implementation of the repayment plan has already commenced, with 15 power generation companies signing settlement agreements valued at ₦2.3 trillion.
It added that the Federal Government had so far raised ₦501 billion to fund the initiative, out of which ₦223 billion had already been disbursed, while further payments are ongoing.
‘Restoring Confidence’
“This programme is not just about settling legacy debts. It is about restoring confidence across the power sector, ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably,” she said.
She added that the plan formed part of the sector reforms, including improved metering and the introduction of service-based tariffs.
“It is part of a broader set of reforms already underway, including better metering and service-based tariffs that link what you pay to the quality of electricity you receive.
“The government is also prioritising power supply to businesses, industries, and small enterprises because reliable electricity is critical to creating jobs, supporting livelihoods, and growing the economy.
“The goal is simple: more reliable power for homes, stronger support for businesses, and a system that works better for all Nigerians,” she added.

The presidency stated that the settlement of the debts was expected to enhance liquidity across the power value chain, leading to more stable electricity generation and improved service delivery.
President Tinubu also commended stakeholders for their roles in resolving the long-standing issues and confirmed that the next phase of the programme, known as Series II, will commence within the current quarter.
Nigeria’s fragile power supply has been marked by frequent grid collapses, low generation levels, and persistent outages affecting homes and businesses.
A 2024 report by Africa Trade Barometer disclosed that Nigeria loses an estimated $26 billion yearly to power failures.
It said businesses spend about $22 billion annually on off-grid fuel to offset the impact of power shortages. This further pushes operational costs.
“Economic losses arising from Nigeria’s electricity shortages are estimated to be USD 26 billion annually, without accounting for spending on fuel for off-grid generators, which is estimated to be a further USD 22 billion,” the report by Standard Bank said.
“In Nigeria, surveyed businesses must contend with a national grid that frequently collapses as it fails to meet a daily peak demand which is nearly four times its generation capacity,” it added.
News
Court Arraigns Journalist In Benue
A Benue State High Court, presided over by Justice Mary Abounu, has arraigned the Benue State correspondent of Aljazirah Newspaper, Henry Ibya, in Makurdi over alleged cyberstang.
The trial judge had sought the prosecution’s response to the defendant’s argument that the journalist was reliable and should be granted bail.
The absence of the prosecution counsel in court did not stop the proceedings, as the defendant’s counsel, Tom Uja, Esq., notified the court of his bail application for his client.
He stated that the prosecution had taken the journalist to two other courts in the state on the same charge and that his client had never failed to appear in court whenever required.
Although the prosecutor’s absence did not affect the judge’s decision to proceed and grant bail, which was also believed to be in the interest of justice, the matter was adjourned until November 5, 2026.
One Terna Abuul, said to be the Director of ICT at Rev. Fr. Moses Orshio Adasu University, Makurdi, reported Henry Ibya to the Nigeria Police Force, Benue State Command.
The director had accused the journalist of allegedly reporting mismanagement in the institution’s ICT department.
According to Abuul, Ibya’s report accused him of wrongdoing.
On the strength of the said report, the journalist was arraigned before the High Court in Makurdi.
News
64 Dead, 80 Injured As Two High-Speed Trains Collide
At least 64 people have been killed and dozens seriously injured after two high-speed trains collided near Urda, south of Madrid, in one of Spain’s deadliest rail disasters in more than a decade.
The Castilla-La Mancha regional government confirmed the death toll as emergency crews continued rescue operations at the crash site. More than 500 passengers were travelling on the two trains involved, according to a regional government spokesperson.
The BBC reports that the collision of the two trains involved a Renfe high-speed train and an Iryo service operating on the Madrid-to-Seville route. Aerial images analysed by the broadcaster showed parts of the Renfe train leaving the tracks, while carriages of the Iryo train also derailed.
The cause of the collision had not been officially confirmed. However, Spanish media cited preliminary accounts suggesting that the Renfe train struck the Iryo service, which may have been stationary following a problem on the tracks.
The scale of the disaster prompted a major emergency response involving ambulances, helicopters, rescue teams and police officers. At least 80 people were reported injured, with about 50 believed to be in serious condition and 15 in critical condition, according to regional officials.
Several victims were transported to hospitals in nearby areas, while others were taken to Madrid for treatment. Hospitals in Toledo, Ciudad Real and Alcázar de San Juan reportedly suspended planned surgeries to accommodate casualties from the crash.
Blood transfusion centres in Madrid and Toledo also appealed for urgent donations to meet a possible surge in demand.
Survivors described scenes of panic and severe destruction. One passenger, Sebastián Herrero, told Spanish newspaper El Mundo that he felt a powerful impact that threw him into the seats ahead. He said injured passengers had broken noses and arms, while smoke spread through the carriages.
Another passenger, Iñaki, told El País that the impact sent him rolling across the floor. After escaping, he saw injured people and bodies around the wreckage.
BBC Verify also examined images and videos appearing to show a section of railway track piercing through a Renfe carriage, with approximately 10 metres of rail protruding through its roof.
The disaster has revived concerns about railway safety in Spain, which suffered another deadly high-speed rail accident near Córdoba in which 46 people died. The country’s previous worst rail disaster occurred in July 2013, when 80 people were killed in a derailment near Santiago de Compostela.
Spain’s Prime Minister, Pedro Sánchez, said he was shocked by the crash and remained in contact with the transport minister. The Spanish royal family also expressed condolences to victims’ relatives and praised emergency workers.
Meanwhile, the Royal Spanish Football Federation postponed 24 Copa del Rey matches in solidarity with the victims, while most political parties suspended campaign activities.
Rescue and recovery operations continued as authorities worked to establish the full circumstances surrounding the collision.
News
Police Arrest Suspected Eiye Cultist, Recover Two Pistols, Cartridges In Ogun
Operatives of the Special Weapons and Tactics (SWAT) Squad of the Ogun State Police Command have arrested a 26-year-old suspected cultist and recovered two locally made pistols, three live cartridges and a battle axe in the Atan area of Ado-Odo/Ota Local Council of the state.
The suspect, identified as Okiki Muhammed Adewusi, popularly known as “Baba Obo”, was arrested in the Ore area of Atan on October 26, 2026, following intelligence received by operatives of SWAT Base 7, Abule Iroko, Sango-Ota.
The Police Spokesperson, Oluseyi Babaseyi, confirmed the arrest in a statement in Abeokuta yesterday.
According to Babaseyi, a search of the suspect’s residence after his arrest led to the recovery of a locally made pistol and three live cartridges.
He added that preliminary investigations indicated that the suspect had allegedly admitted to being a member of the Eiye Confraternity.
Babaseyi said information obtained from the suspect led to a follow-up operation at about 6.30 a.m. on October 27, 2026 during which operatives recovered a second locally made pistol and a battle axe from a separate location.
The recovered items have been secured as exhibits, while efforts are ongoing to arrest other suspects believed to be involved in the activities and recover additional weapons.
The police spokesperson said investigations were ongoing to establish the full circumstances of the case.
The Commissioner of Police, Bode Ojajuni, commended the SWAT operatives for their vigilance, professionalism and effective use of intelligence.
Ojajuni reaffirmed the Command’s commitment to dismantling criminal networks, curbing cult-related activities and tackling the illegal possession of firearms across the state.
He urged residents to provide timely and credible information about suspected criminal activities, assuring them that the Command would act on actionable intelligence to protect lives and property and maintain public safety.
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