By Adedapo Adesanya

The Minister of Power, Mr Adebayo Adelabu, has resigned from office and proposed the creation of a Coordinating Minister for Energy to drive integrated reforms across Nigeria’s power and gas sectors.

The former deputy governor of the Central Bank of Nigeria (CBN), in a resignation letter dated April 22, 2026, and addressed to President Bola Tinubu, said his resignation will take effect from April 30, 2026, to enable him to pursue his governorship ambition in Oyo State.

He noted that his decision is in line with the provisions of the Amended Electoral Act 2026, which bars serving political office holders from contesting elections.

Confirming the development, the Minister’s Special Adviser on Strategic Communications and Media Relations, Bolaji Tunji, said Mr Adelabu expressed appreciation to the President for the opportunity to serve, describing his tenure as a privilege to contribute to national development.

The outgoing minister stressed the need for stronger coordination in the energy sector, recommending the establishment of a Coordinating Minister for Energy to harmonise policies and ensure effective implementation across power, gas and related sectors.

He added that peak power generation increased to over 6,000 megawatts, driven by the integration of the Zungeru Hydropower Plant and the rehabilitation of thermal plants.

He also noted improvements in transmission capacity through grid upgrades under the Presidential Power Initiative, as well as progress in the distribution segment, including enhanced regulatory oversight, improved revenue collection and efforts to reduce Aggregate Technical, Commercial and Collection (ATC&C) losses.

According to him, strides were also made in closing the metering gap through the Presidential Metering Initiative and the World Bank-supported Distribution Sector Recovery Programme.

On the financial side, Mr Adelabu said tariff reforms and a N4 trillion debt restructuring programme boosted market revenues from N1 trillion in 2023 to N2.3 trillion in 2025, helping to restore investor confidence in the sector.

Despite these gains, he acknowledged ongoing challenges such as gas supply constraints, infrastructure vandalism and the need for full commercialisation of the electricity value chain.

To address these issues, he proposed measures including the implementation of cost-reflective tariffs with targeted subsidies, recapitalisation of distribution companies, accelerated nationwide metering, sustained investment in transmission infrastructure and stronger regulatory enforcement.

Mr Adelabu emphasised that the creation of a Coordinating Minister for Energy would provide the strategic oversight needed to improve gas supply for power generation, optimise hydroelectric resources and accelerate renewable energy development.

He assured that he would ensure a smooth handover process and thanked the President for his support throughout his time in office.

By Dipo Olowookere

No fewer than 204 free retail stalls would be made available to vendors participating in the 9th GTCO Food and Drink Festival from Friday, May 1, to Sunday, May 3, 2026, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos.

The prestigious event is the brainchild of a global financial services organisation, Guaranty Trust Holding Company (GTCO) Plc, which is listed on the Nigerian Exchange (NGX) Limited and the London Stock Exchange (LSE).

This year’s theme, Everything Food and Drink, captures the expansive nature of the festival experience, reflecting not only the variety of cuisines on display but also the depth of stories behind them.

Over the years, the GTCO Food and Drink Festival has grown far beyond a seasonal celebration to become a culturally significant platform where food and drink serve as a meeting point for storytelling, innovation, and opportunity.

The provision of the free retail stalls is to showcase the rich diversity and creativity of the Nigerian food culture; from time-honoured traditional dishes preserved across generations, to bold contemporary interpretations of global cuisine, creating space for every flavour, every technique, and every craving to find expression.

Visitors can expect a rich programme featuring interactive masterclasses, live culinary demonstrations, food and wine tastings, and a vibrant marketplace showcasing small and medium-scale food businesses alongside established culinary brands.

In addition to its wide range of food and drink offerings, the GTCO Food and Drink Festival is renowned for its family-friendly atmosphere, with a well-equipped play area and a variety of engaging activities for children, ensuring an unforgettable experience for the whole family.

“The GTCO Food and Drink Festival has, over the years, become a living expression of what we stand for as an institution: innovation, opportunity, and enterprise that is accessible to all.

“What makes this platform special is not just its scale, but its humanity. It brings together people from different walks of life around something universal—food and drink—and in doing so, it breaks barriers and builds connections that extend far beyond the event itself,” the chief executive of GTCO, Mr Segun Agbaje, commented.

Since its inception, the GTCO Food and Drink Festival has positioned itself as one of Africa’s most prominent culinary gatherings, attracting participation from across Nigeria and increasingly from the wider continent and diaspora.

Admission remains free and open to all, reaffirming the festival’s commitment to accessibility as a consumer-focused event that brings people together through food, drink, culture, and enterprise.

By Adedapo Adesanya

The presidency has refuted reports that Mr Wale Edun, former Finance Minister, and Mr Musa Dangiwa, Housing Minister, were sacked by President Bola Tinubu.

In a statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, it was emphasised that Mr Edun duly tendered his resignation from office, citing health reasons, before President Tinubu announced his replacement on Tuesday.

As for Mr Dangiwa, no reason was given beyond handing in his resignation to the President.

Mr Edun, who clocked 70 on Monday and has battled recent ill health, fittingly submitted his resignation letter on his birthday, thanking the President for the opportunity to serve Nigeria.

“It has been a pleasure and privilege to serve your administration and the Renewed Hope Agenda”, his letter read.

“Under your leadership, Nigeria has emerged stronger, more resilient and more internationally respected.

“I wish you and the administration every success in the future”, he wrote.

According to the presidency, before the Office of the Secretary of the Government of the Federation announced his departure from the cabinet on Tuesday, Mr Edun paid a valedictory visit to the President at the Villa. He held an hour-long discussion with Mr Tinubu and then left to focus on his private businesses.

Mr Dangiwa, an architect, previously served as the managing director of the Federal Mortgage Bank between 2015 and 2022, as well as  Secretary to the Katsina State Government, before President Tinubu appointed him as housing minister in August 2023.

Mr Edun, an economist and investment banker, served as Lagos State commissioner for finance between 1999 and 2004, during the tenure of then Governor Bola Tinubu.

Before then, he worked from 1980 to 1986 at Chase Merchant Bank (later Continental) in Lagos. He joined the World Bank in September 1986 through the elite Young Professionals program, where he worked on economic and financial packages for several countries in Latin America and the Caribbean.

In 1989, he co-founded Investment Banking & Trust Company Limited (now Stanbic IBTC) and served as executive director. In 1994, he founded Denham Management Limited, which has since become the Chapelhill Denham Group. He served as chairman from 2008 to 2021.

President Tinubu has expressed deep appreciation to both men for their dedicated service and significant contributions to the administration’s economic reform programme and wished them continued success in their future endeavours.

Mr Edun has been replaced by Minister of State for Finance, Mr Taiwo Oyedele, to consolidate ongoing reforms and advance the administration’s fiscal and economic objectives with renewed focus, discipline, and innovation.

President Tinubu will shortly send the ministerial nominee for housing, Muttaqha Rabe Darma, also from Katsina, like Mr Dangiwa, to the Senate for confirmation.