General
N4trn Debt: FG, GenCos Agree Payment Framework
By Adedapo Adesanya
The federal government and the electricity generation companies (GenCos) have finalised plans for the implementation of a N4 trillion Presidential Power Sector Debt Reduction Plan.
According to a statement from the Office of the Special Adviser to the President on Energy on Tuesday, the Nigerian government has taken a major step toward paying the N4 trillion debt that will restore financial stability and investor confidence in the electricity market.
This will be done with the finalization of the implementation framework for the Presidential Power Sector Debt Reduction Plan, an initiative approved by President Bola Tinubu to address structural bottlenecks and lay the groundwork for large-scale private sector-led investment and sustained economic growth.
The statement disclosed that on October 7 2025, in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, the Minister of Power, Mr Bayo Adelabu, and the Special Adviser to the President on Energy, Mrs Olu Verheijen, met with senior executives of Nigeria’s electricity generation companies (GenCos) to review settlement modalities for the outstanding debt.
The meeting concluded with a consensus on the way forward, which includes conducting bilateral negotiations to finalize full and final settlement agreements that balance fiscal realities with the financial constraints of the GenCos.
Approved by President Tinubu and endorsed by the Federal Executive Council (FEC) in August 2025, the plan authorizes the issuance of up to N4 trillion in government-backed bonds to settle verified arrears owed to generation companies and gas suppliers.
The plan is being jointly implemented by the Ministry of Finance, the Ministry of Power, and the Office of the Special Adviser to the President on Energy, in collaboration with the Nigerian Bulk Electricity Trading (NBET) Plc and other key stakeholders.
This intervention, the largest in over a decade, addresses a legacy debt overhang that has constrained investment, weakened utility balance sheets, and hindered reliable power delivery across the country.
“For the first time in years, we are seeing a credible and systematic effort by government to tackle the root liquidity challenges in the power sector,” said Mr Tony Elumelu, Chairman of Heirs Holdings and Transcorp Power.
“We commend President Tinubu and his economic team for this bold and transformative step.”
On his part, Mr Kola Adesina, Group Managing Director of Sahara Group, added that, “This initiative is significant in every respect. It gives us renewed confidence in the reform process and a clear signal that the government is serious about building a sustainable power sector.”
The government noted that beyond clearing arrears, the debt reduction plan signals a strategic reset of Nigeria’s electricity market.
“By restoring the financial health of power companies, it will enable new investment in generation capacity, modernize grid infrastructure, and deliver more reliable electricity to homes and businesses, creating a stronger foundation for industrialization, job creation, and inclusive economic growth,” the statement added.
Adding her input, Mrs Verheijen said, “Our focus is on creating the right conditions for investment, from modernizing the grid and improving distribution to scaling embedded generation,”
“By closing metering gaps, aligning tariffs with efficient costs, improving subsidy targeting to support the poor and vulnerable, and restoring regulatory trust, we are shifting from crisis response to sustained delivery and building the confidence needed to attract large-scale private capital,” she added.
“These reforms go beyond liquidity,” said Mr Edun, adding that, “They are about rebuilding the fundamentals so that Nigeria’s power sector works for investors, for citizens, and for the next generation. This is how we create the enabling conditions for sustained private investment and transform reliable power into a catalyst for economic growth.”
The statement added that complementary efforts to scale renewable energy, leverage domestic gas as a transition fuel, and build local technical and institutional capacity will position Nigeria not just for energy security, but for energy sovereignty, creating one of Africa’s most attractive power markets.
General
Nigeria Okays Alphanumeric Digital Postcode System to Boost Delivery
By Adedapo Adesanya
Nigeria has finally approved the use of an alphanumeric digital postcode system for the country, 17 years after it was first considered.
According to the Minister of Communications and Digital Economy, Mr Bosun Tijani, the system was okayed at the Federal Executive Council (FEC) meeting on Wednesday, chaired by President Bola Tinubu, in line with the ministry’s strategic blueprint.
He said working in collaboration with the Nigerian Postal Service (NIPOST), the ministry will introduce a modern, geospatially intelligent addressing system that improves accuracy across the country and enables faster and more reliable mail and parcel processing.
“Beyond strengthening postal operations, the Digital Postcode System will also serve as an important national enabler supporting better national planning, improved emergency response, more efficient logistics and e-commerce, and the delivery of government services.
“As our digital economy continues to grow, foundational systems such as this play an essential role in building the infrastructure required to connect people, businesses, and services more efficiently across the country,” he said.
He noted that the approval represents another step forward in the Mr Tinubu-led administration’s commitment to building the enabling environment to support a modern, inclusive, and globally competitive digital economy.
On her part, Ms Tola Odeyemi, the Post Master General and chief executive officer of NIPOST, said the implementation is a foundational step toward building the digital infrastructure required for a modern economy.
“First conceptualised in 2009, this initiative is finally becoming a reality in 2026 under the leadership of President Bola Tinubu and the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani,” she wrote on X, formerly Twitter.
“A digital postcode system is more than a postal reform. It is critical national infrastructure that enables e-commerce, logistics, emergency services, financial inclusion, security, urban planning, and effective public service delivery,” she added.
By introducing an alphanumeric addressing framework, Nigeria will now be able to identify locations with far greater precision across cities, towns, and rural communities.
“This will significantly improve how goods, services, and digital platforms reach Nigerians everywhere.
“This milestone reflects a shared commitment by the Federal Government to strengthen Nigeria’s digital backbone and unlock new opportunities for innovation, commerce, and national development,” she further stated.
General
NCDMB Targets Midstream Compliance to Boost Nigeria’s Industrial Growth
By Adedapo Adesanya
The Nigerian Content Development and Monitoring Board (NCDMB) has intensified its compliance drive in the oil and gas midstream segment, convening a high-level sensitisation workshop aimed at deepening adherence to the Nigerian Oil and Gas Industry Content Development Act.
The workshop, themed Compliance with the Provisions of the NOGICD Act 2010: A Pathway to Industrialization, held in Lagos, drew key operators across gas processing, transportation, storage and infrastructure development.
Speaking on behalf of the Executive Secretary of NCDMB, Mr Felix Ogbe, the Director of Monitoring and Evaluation Division, Mr Omomehin Ajimijaye, described the midstream sector as “a critical bridge between upstream production and downstream utilisation.”
“The midstream segment plays a pivotal role in gas processing, transportation, storage and infrastructure development, all of which are essential pillars for achieving Nigeria’s industrialisation agenda,” Mr Ajimijaye said.
Mr Ajimijaye stressed that adherence to the NOGICD Act goes beyond regulatory obligation.
“Compliance with the NOGICD Act is not merely a statutory requirement,” he stated. “It is a strategic imperative for sustainable national development.”
He explained that the programme was structured to clarify registration processes, Nigerian Content Equipment Certification, expatriate quota requirements, statutory reporting templates and submission timelines.
“Our objective is to deepen stakeholders’ understanding of compliance requirements, address recurring gaps identified during Monitoring and Evaluation reviews, and foster constructive dialogue on operational realities within the midstream space,” he added.
According to Mr Ajimijaye, the board has received feedback from operators highlighting challenges in meeting Nigerian Content obligations, including reporting complexities and varying interpretations of certain provisions of the Act.
“As a responsive regulator and development-focused institution, we remain committed not only to enforcing compliance but also to providing guidance, clarity and the necessary support to enable stakeholders succeed,” he assured participants.
With Nigeria positioning gas as a transition fuel and economic growth driver, regulatory clarity in the midstream space is essential to unlocking investment and local capacity development.
The participants received technical presentations from key NCDMB divisions, including: Monitoring and Evaluation Division, Project Certification and Authorisation Division, Capacity Building Division and Zonal Coordination Division.
The interactive sessions provided practical guidance on engagement protocols with the Board and strengthened collaboration between regulators and operators.
General
AGF Fagbemi Takes Over Malami Prosecution from DSS
By Adedapo Adesanya
The Minister of Justice and Attorney General of the Federation, Mr Lateef Fagbemi, has taken over the prosecution of his immediate predecessor, Mr Abubakar Malami.
Mr Malami is facing terrorism and illegal firearms possession charges brought against him by the Department of State Service (DSS).
Mr Fagbemi, a Senior Advocate of Nigeria (SAN), took over the trial from the secret police on Wednesday at the Federal High Court in Abuja.
The Director of the Public Prosecution of the Federation, Mr Rotimi Oyedepo, announced the Attorney General’s appearance in the matter.
Mr Oyedepo told Justice Joyce Abdulmalik that the trial cannot proceed because Mr Fagbemi has just taken over the prosecution.
He informed the court that the prosecution needed more time to familiarise itself with the facts of the case.
Counsel to the defendants, Mr Adedayo Adedeji, who did not oppose the application, however, urged the court to strike out the matter if the prosecution fails to open its case at the next adjourned date, citing lack of diligent prosecution.
Justice Abdulmalik subsequently adjourned the matter to March 10 for trial and for the prosecution to formally open its case.
The court had, on February 27, admitted Malami and his son, Mr Abdulaziz, to N200 million bail, with two sureties, each one of whom must own landed property either in Maitama or Asokoro.
Justice Abdulmalik had said that the title of the property must be deposited with the Deputy Chief Registrar of the Court along with valid international passports.
The sureties were also ordered to depose to an affidavit of means and submit their two recent passport photographs to the court.
Mr Malami and his son were also ordered to submit their international passports and recent passport photographs to the court.
The DSS had arraigned the ex-AGF and his son, Mr Abdulaziz, on a five-count charge bordering on terrorism and illegal firearms possession.
In the charge, marked FHC/ABJ/CR/63/2026, filed before the Federal High Court in Abuja, Malami is also accused of refusing to prosecute suspected terrorism financiers, whose case files were handed to him while he served as the AGF and Minister of Justice.
Mr Malami and Mr Abdulaziz are equally accused of warehousing firearms in their residence at Gesse Phase II Area, Birain Kebbi LGA, Kebbi State, without lawful authority.
The DSS accused Mr Malami in count one of the charge, with knowingly abetting terrorism financing, while the ex-AGF and his son are charged in counts two to five, with unlawful, possession of a Sturm Magnum 17-0101 firearm, 16 Redstar AAA 5720 live rounds of cartridges and 27 expended Redstar AAA 5’20 cartridges, contrary to and punishable under relevant Sections of Terrorism (Prevention and Prohibition) Act, 2022 and Firearms Act, 2004.
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