By Modupe Gbadeyanka

The presidential candidate of the Labour Party (LP) in the 2023 general elections, Mr Peter Obi, has asked to know the real beneficiaries of the repeated payments made by the federal government to settle outstanding debts in the power sector.

Over the weekend, President Bola Tinubu approved the payment of N3.3 trillion for the “full and final” payment for debts in the electricity sector.

The action, according to a statement issued by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, was to ensure improvement in electricity supply in the country.

In a post on Tuesday, the former Governor of Anambra State questioned why the government is allegedly making the same payment it announced almost two years ago.

“On May 17, 2024, N3.3 trillion was approved for the same purpose. On July 25, 2024, another N4 trillion bond was approved to settle similar debts. There have also been other approvals in between, all targeted at addressing the same power sector liabilities.

“This raises a fundamental question: were the previous approvals mere announcements without execution?” he queried.

“During the 2023 campaign, President Bola Tinubu made a clear promise: that if he failed to deliver stable electricity, Nigerians should not re-elect him.

“Today, the reality is that power supply has worsened to the extent that there are even discussions about disconnecting the Presidential Villa from the national grid.

“Each time legitimate concerns are raised, what we see appears more like policy pronouncements than measurable progress.

“Now, again, we are confronted with another N3.3 trillion approval to settle power sector debts,” Mr Obi further said.

The chieftain of the African Democratic Congress (ADC) said, “These debts were largely accumulated under successive administrations of the All Progressives Congress between 2015 and 2025. This raises serious concerns about accountability, transparency, and effectiveness in public financial management.”

“It is important to note that government institutions and agencies, including the Presidential Villa, owe a significant portion of these debts. Year after year, budgets were made and funds appropriated. Why then were these obligations not settled when due? And from what source will this new payment be made? Are we resorting once more to borrowing to service inefficiencies?

“Key questions remain unanswered: How did the debt accrue? What is the actual total debt in the power sector? Which components of the debts are due to operators’ inefficiency and should be borne by them? Why have previous approvals not translated into tangible improvements? Who are the real beneficiaries of these repeated payments?

“Is the N3.3 trillion approved on April 6, 2026, the same as the N3.3 trillion approved in May 2024, and how does it relate to the N4 trillion bond approved in July 2024?

“Nigeria must move beyond recycled announcements and confront the power sector crisis with sincerity, transparency, and decisive reforms.

“Until we do so, we will remain trapped in a cycle of debt and darkness.

But with discipline, accountability, and the right leadership, a new Nigeria is still possible,” he wrote.

By Adedapo Adesanya

The Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment to accountability, improved performance, and sustained growth in the maritime sector, as the country recorded zero piracy incidents on its territorial waters for the fourth consecutive year.

This came with the signing of its 2026 Sectoral Performance Bond, overseen by the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

According to the Director-General of NIMASA, Mr Dayo Mobereola, the Performance Bond is a key governance instrument for tracking deliverables, strengthening institutional accountability, and aligning the Agency’s operations with national priorities.

He stated that NIMASA’s ongoing reforms are driven by purposeful leadership and strategic ministerial support, adding that the Agency remains committed to delivering on its mandate in line with the Renewed Hope Agenda of President Bola Tinubu’s administration.

On maritime security, Mobereola disclosed that Nigeria has recorded zero piracy incidents in its territorial waters over the past four years, attributing the milestone to enhanced surveillance systems and improved inter-agency collaboration.

He further revealed that the Agency is at an advanced stage of automating its ship registry processes, a move expected to improve efficiency, reduce delays, and boost Nigeria’s competitiveness in global maritime business.

Providing an update on the Cabotage Vessel Financing Fund (CVFF), the NIMASA boss said more than 60 applications have been received since the portal was launched in January 2026, assuring that the disbursement process will be transparent and strictly monitored.

Mr Mobereola also noted that Nigeria has deposited three conventions with the International Maritime Organisation (IMO), while three others are awaiting Federal Executive Council approval, underscoring the country’s commitment to international maritime standards.

Speaking further, he noted that Nigeria’s election into category C at the IMO Council in November 2025 restored its voice in global maritime governance and strengthened its leadership role in Africa.

In his remarks, Minister Oyetola reiterated the federal government’s commitment to using the maritime sector to drive economic diversification, job creation, and foreign exchange earnings.

He stressed that the Performance Bonds are binding commitments that will be closely monitored, declaring that “accountability is not optional.”

By Adedapo Adesanya

The Federal Competition and Consumer Protection Commission (FCCPC) says it has expanded its market surveillance and product testing to electrical and electronic products to ensure strict regulatory compliance.

The organisation also said it was extending market surveillance to cables and other building materials due to significant product safety issues regarding collapsed buildings.

According to the Director of the Surveillance and Investigations Department at FCCPC, Mrs Boladale Adeyinka, there are products that did not meet basic safety and quality standards in circulation.

She noted that where business conduct raises concerns about consumer safety, such matters would be investigated.

Mrs Adeyinka said the commission was coordinating with various sector regulators to address weaknesses that permitted unsafe products to enter or remain in the market.

”When a product presents a risk, the law requires prompt collective action, including product withdrawal, product recall, and proper notice to the consumer.

“If you are producing products in Nigeria and you discover there is a safety concern or likely to be a safety concern with respect to products that you have rolled out in the market, you have an obligation to withdraw and recall them.

“You also give notice to consumers who have purchased those products to be able to make the remedial actions, particularly with products that may significantly affect the lives of consumers of those products.”

“These are not optional expectations but legal requirements under our law. They are statutory duties to ensure product safety and consumer welfare in Nigeria.

“Failure to act responsibly by recalling, withdrawing, and issuing consumer notice will attract strict and stiff regulatory response from the commission,” she added.

The official noted that, “Compliance is not a favour to the regulator,” she stated.

Mrs Adeyinka also said FCCPC, headed by Mr Tunji Bello, remained committed to effectively monitoring and enforcing compliance across the market.