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
BREAKING: Court Nullifies NDC Registration
A Federal High Court in Lokoja, Kogi State, on Friday set aside its earlier judgment directing the Independent National Electoral Commission (INEC) to register the Nigeria Democratic Congress (NDC) as a political party.
Justice Isah Dashen, the presiding judge held that all relevant parties must be heard before any substantive decision can be made in the matter.
The court upheld the application filed by the Peace Movement Party (PMP), ruling that the party was a necessary party to the suit.
According to the judge, the earlier judgment was constitutionally defective as it was delivered without hearing from all interested parties.
He declared that such an omission rendered the entire process null and void.
Justice Dashen further ruled that the status quo be restored to what it was before the December 2025 judgment, pending the determination of the substantive suit.
He also observed that certain material facts were suppressed in the earlier proceedings, which justified the decision to set aside the judgment.
Consequently, the court ordered that the substantive suit should begin afresh, with INEC, the PMP and the NDC as parties to the case.
Counsel to the applicant, Chikezie Ekeocha, told journalists that the PMP approached the court after discovering that NDC’s registration was based on a logo it had previously submitted to INEC before the commencement of the suit.
According to Ekeocha, the court agreed that the applicant’s rights had been affected and consequently vacated the earlier judgment.
“The court has ordered all parties to return to the position they occupied before the judgment of December 10, 2025, and directed the claimants to join all necessary parties to ensure the issues in dispute are effectually and completely determined,” he said.
He explained that the implication of the ruling is that every action taken by INEC in compliance with the now-vacated judgment stands reversed.
“The recognition of the NDC, the issuance of its certificate of registration, its inclusion in INEC’s records, and any appearance on ballot papers arising from that judgment must be withdrawn pending the final determination of the substantive suit,” Ekeocha stated.
He, however, clarified that the substantive case remains before the court and has not been decided.
“The matter has not been concluded. The court merely set aside its previous judgment and directed that the party whose interests were affected be joined so that all sides can be heard before a fresh decision is reached.”
Ekeocha also dismissed suggestions that the court merely ordered parties to maintain the status quo, insisting that the ruling specifically directed a restoration of the position that existed before the December 10, 2025 judgment.
The ruling effectively returns the dispute over the registration of the NDC to the Federal High Court for a fresh hearing, with all relevant parties expected to participate before a new determination is made.
(NAN)
International News
W/C Round Of 32 Matchup: Brazil vs Japan, Netherlands vs Morocco
The FIFA World Cup group stage has concluded, with the Netherlands securing first place in Group F and Japan finishing second. According to the knockout stage bracket, the top two teams from Group F will face the top two teams from Group E.
Two more Round of 32 matchups have been confirmed: Brazil vs. Japan and Netherlands vs. Morocco. The first Round of 16 matchup was announced yesterday, featuring South Africa vs. Canada.
International News
‘Please Stop The Nonsense’ – Germany Coach Tells Journalist After Ecuador Defeat
Julian Nagelsmann defended question marks surrounding Germany’s commitment during their defeat by Ecuador, telling journalists: “Please stop the nonsense!”
Germany, already guaranteed top spot in Group E, were beaten 2-1 in their final group outing, as their opponents came from behind to snatch all three points at New York New Jersey Stadium.
Nagelsmann’s side saw their 11-match winning streak brought to an end, while they have now failed to register a clean sheet in any of their last nine games at the finals, equalling their longest streak along with their opening nine matches across 1934 and 1954.
And since the start of the 1998 World Cup, this was just the second time Germany had lost a game at the tournament in which they opened the scoring (W25 D2) following a 1-2 loss to Japan in 2022.
While not impressed by his players’ performance, he was quick to reject claims it was due to a lack of commitment, with their place in the knockout phase already secured.
“Please stop the nonsense, honestly!” Nagelsmann told reporters. “Didn’t the boys want to go full throttle?
“Of course, we made different changes than we might have done in moments when we urgently needed another goal.
“But we can’t tell any player that he didn’t step on the gas, that’s far too striking for me.
“We have to learn that after a good start and an early lead, we can play with more composure, instead of suddenly switching positions too much. We just need to be more patient and stay a bit more structured in our positions.
“We deliberately made a lot of changes. You could see that we also had a few tired legs. You can’t blame anyone for the fact that everything is a little slower and takes longer. We trust every player in the squad, and have to give the players the chance to show that.”
Coincidentally, it was in New York that Germany crashed out of the 1994 World Cup after surrendering a lead, losing 2-1 in the quarter-finals against Bulgaria at the Giants Stadium.
Joshua Kimmich, who won his 113th cap to move to joint-eighth with Philipp Lahm on his nation’s all-time list, conceded the four-time world champions were worthy losers against Ecuador.
“We started well, but then we gave the ball away too cheaply and kept inviting them on,” he added.
“We made it easy for them and let them grow into the game. In the second half, the defeat was deserved.”
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