General
N185bn Gas Debts Clearance to Stabilize Power Sector, Revive Investment—FG
By Adedapo Adesanya
The federal government’s approval of N185 billion as the settlement for long standing debts owed to gas producers in the country has been described as a major boost for Nigeria’s gas industry and power generation value chain.
The decision, endorsed by the National Economic Council (NEC) chaired by Vice President Kashim Shettima, followed the authorisation by President Bola Tinubu and represents one of the most significant fiscal interventions in the energy sector in recent years.
The legacy debts, accumulated over years for gas supplied to power plants, have constrained cash flow for producers, discouraged new investments and reduced gas supply to electricity generation, worsening Nigeria’s chronic power shortages.
Under the approved framework, the debts will be settled through a royalty-offset arrangement, a mechanism expected to ease government liabilities while restoring confidence among domestic and international gas suppliers.
The Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, described the approval as a turning point for the sector.
“This is a decisive step towards revitalising Nigeria’s gas sector and strengthening its power-generation capacity in a sustainable manner,” Mr Ekpo said, adding that the move aligns with President Tinubu’s commitment to resolving structural bottlenecks in the energy industry.
He noted that clearing the arrears would help rebuild trust between government and gas producers, many of whom had slowed investments due to persistent payment uncertainties.
“Settling these debts is critical to restoring investor confidence, reviving upstream activities and accelerating exploration and production,” Mr Ekpo stated.
According to him, increased gas output would directly translate into improved power generation, helping to address electricity shortages that have long constrained industrial productivity and economic growth.
The gas minister further explained that the intervention supports the Federal Government’s Decade of Gas initiative, which targets unlocking more than 12 billion cubic feet per day of gas supply by 2030.
On his part, the Coordinating Director of the Decade of Gas Secretariat, Mr Ed Ubong, said the decision sends a strong signal to investors across the gas-to-power value chain.
“This approval underlines the Federal Government’s determination to clear legacy liabilities and assure gas producers that supplies to power generation will be honoured,” Mr Ubong said.
He added that the move could unlock stalled projects, revive investor interest and rebuild momentum toward Nigeria’s transition to a gas-driven economy.
The settlement could mark a critical step in stabilising gas supply to power plants, improving electricity reliability and positioning gas as a catalyst for industrialisation and long-term economic growth.
By Adedapo Adesanya
The Lagos State Police Command is investigating the delivery of a parcel containing live ammunition delivered to the managing director of First Bank Nigeria, Mr Oluwasegun Alebiosu.
The Commissioner of Police, Lagos State command, Mr Tijani Fatai, confirmed the incident on Tuesday during a press briefing at the command headquarters.
He said Mr Alebiosu reported the case on May 7, noting that two rounds of 7.62mm live ammunition were sent to him through a parcel.
“The managing director reported the matter to the police after a package containing two rounds of 7.62mm live ammunition was delivered on his behalf by his security guard at his residence. The case is still under investigation, and we are treating it with the seriousness it deserves,” he said.
According to him, the parcel was first received by the bank chief’s security guard, who then handed it over to him.
The police commissioner said that operatives have launched an investigation, including forensic analysis and intelligence work, to identify the perpetrators and the circumstances of the incident.
He added that no suspect linked to the crime has been brought into custody.
“Presently, no suspect is in custody. Even though the MD has mentioned some people whom he suspected of being the brains behind it, that is his suspicion, anyway. We are still working on it,” he said.
Mr Fatai noted that detectives are reviewing information provided by the complainant, including details of individuals who may have relevant knowledge of the incident.
He assured the public that the command would keep them informed as the investigations go on, adding that the public should allow the police to carry out their duties.
By Adedapo Adesanya
The Governor of Oyo State, Mr Seyi Makinde, has approved the declaration of a 16-hour curfew in 10 local government areas of the state, as part of measures targeted at tackling insecurity.
According to a memo issued by the Secretary to the State Government, Mr Musibau Babatunde, the curfew takes effect from Wednesday, June 24, 2026.
The movement restriction, between 4 pm and 8 am, lasts for 48 hours in the first instance and affects local government areas bordering the Old Oyo National Park.
The affected local councils are Oriire local government (Headquarters: Ikoyi-Ile), Orelope (Headquarters: Igboho), Irepo (Headquarters: Kisi), Saki West (Headquarters: Saki), Saki East (Hq Ago-Amodu), Atisbo (Headquarters: Tede / Ago-Are), Itesiwaju (Headquarters: Otu), Iseyin (Headquarters: Iseyin), Olorunsogo (Headquarters: Igbeti), and Atiba (Headquarters: Offa-Meta, Oyo).
The development followed a series of protests that rocked the state over the abduction of children and teachers in the Orire Local Government Area in May.
The National Coordinator of the movement, Mr Juwon Sanyaolu, who spoke during the latest protest held on Monday, said the demonstration was part of ongoing efforts by the group to push for the freedom of the victims.
According to him, the protest “is a continuation of actions the organisation has embarked upon since the abduction of children and teachers” in the Orire Local Government Area of Oyo State in May.”
“We will continue to protest for the release of all abducted victims until they are free. We believe that government officials are in the comfort of their rooms and offices while innocent 46 students and their teachers are languishing in the kidnappers’ den.
“We are demanding freedom for all captives in the North, South, West, and East of Nigeria,” Mr Sanyaolu said.
He also criticised political leaders for focusing on preparations for the 2027 elections while insecurity continues to threaten the lives of Nigerians.
“We will not be sitting until 2027. By that time, we won’t even know how many will be alive.
“So that is why we are at the heart of Ibadan in Oyo State, where the abduction took place. The state and federal governments must act, or they will continue to witness mass action,” he added.
By Adedapo Adesanya
The Department of State Services (DSS) has closed its case against former Kaduna State Governor, Mr Nasir El-Rufai, in the ongoing alleged wiretapping trial before the Federal High Court in Abuja.
At the resumed sitting on Tuesday, prosecuting counsel, Mr Oluwole Aladedoye, informed the court that the prosecution would not be calling further witnesses in the matter, prompting the formal closure of the DSS case.
Following the development, defence counsel, Mr Paul Erokoro, told the court that the defence intends to file a no-case submission, arguing that the prosecution has failed to establish sufficient evidence against the former governor.
The defence subsequently sought two weeks to file the application, while the prosecution requested two weeks to respond.
The defence also applied for a variation of some of the bail conditions earlier granted to El-Rufai, describing them as stringent and difficult to meet.
They argued that the bail terms were too stringent, particularly the requirements for level 17 civil servants with properties in Maitama or Asokoro, as well as verification and attestation letters from the Kaduna state traditional council.
However, the prosecution opposed the request, insisting that qualified public officers who meet the conditions exist and urging the court to refuse the application.
Delivering the ruling, Justice Joyce Abdulmalik declined the request to vary the bail conditions, ruling that there are civil servants who own properties at the said location.
The court, however, adjourned to September 22 for the filing of the no-case submission and continuation of the trial.
In February, the federal government filed a three-count charge against the former governor of Kaduna State over an alleged interception of communications belonging to Nigeria’s National Security Adviser (NSA), Mr Nuhu Ribadu.
In a television interview, he confessed that he and other unnamed individuals listened to conversations from Mr Ribadu’s phone after it was tapped by a third party. While acknowledging that such interception is technically unlawful, he argued that illegal surveillance was not unusual.
However, the FG, through the secret police, filed charges against Mr El-Rufai at the Federal High Court in Abuja.
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