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Reps Okay N248.6bn Relief, 10-Year Debt Plan for Ikeja Electric, Two Others

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Ikeja Electric

By Adedapo Adesanya

The House of Representatives, via its Public Accounts Committee, has approved a N248.6 billion financial relief package alongside a 10-year debt restructuring plan for Kano, Jos and Ikeja Electricity Distribution Companies (DisCos).

The decision followed the adoption of a report by a technical subcommittee set up to review findings in the 2021 Auditor-General’s report, which highlighted rising indebtedness among electricity distribution firms.

The approved framework covers N128.57 billion in accrued interest spanning 2015 to September 2025, as well as N120.06 billion in historical debts. This brings the combined liability of the three DisCos to N248,637,089,278.83.

Chairman of the subcommittee, Mr Mark Chidi Obetta, said the intervention is aimed at stabilising Nigeria’s electricity market and addressing legacy financial burdens affecting the sector.

He noted that the measure forms part of broader legislative efforts to restore financial sustainability within the power distribution segment.

Findings from the report indicate that the total debt owed by the country’s 11 DisCos rose from N1 trillion in December 2024 to N1.3 trillion as of September 2025, covering both principal and accrued interest.

According to data from the Nigerian Bulk Electricity Trading Company (NBET), Abuja DisCo owes N275.16 billion, Kaduna DisCo N303.8 billion, and Jos DisCo N104.37 billion. Kano DisCo’s debt stands at N96.62 billion, while Ikeja DisCo owes N47.63 billion.

The committee said its investigation was designed to verify the Auditor-General’s claims, determine the current debt profile of the DisCos, and uncover reasons for persistent defaults in payment obligations.

During the review, Jos, Ikeja and Kano DisCos challenged the imposition of interest charges, arguing that existing Market Rules did not expressly provide for such penalties. This prompted regulatory clarification from the Nigerian Electricity Regulatory Commission (NERC).

In a directive issued in January 2026, NERC instructed NBET not to charge interest on outstanding invoices between 2015 and 2020, but permitted interest charges on debts from 2021 onward.

The regulator also ordered that interest linked to delays associated with Meristem be disregarded, directing NBET to recompute liabilities, including the N128 billion interest attributed to the three DisCos.

As part of the resolution, the committee recommended that the affected DisCos restructure their N120.06 billion historical debts over a period not exceeding 10 years.

It further directed that N13.39 billion in liabilities incurred by Kano DisCo during its period under government receivership be transferred to the Nigerian Electricity Liability Management Company (NELMCO), in line with established sector precedents.

The committee also called on NERC to mandate NBET to waive N128.57 billion in interest accrued between 2015 and September 2025, citing the escrow arrangement under which DisCos do not have direct access to their revenue collections.

Chairman of the Committee, Mr Bamidele Salam, urged all electricity distribution companies to meet their market obligations going forward, warning that failure to implement urgent financial and regulatory reforms could further threaten the sustainability of the sector.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Dangote Cement Ibese Distributes Farming Inputs to Boost Productivity

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Dangote cement ibese farmers

By Modupe Gbadeyanka

Some farming inputs have been distributed to farmers drawn from 17 host communities of the Ibese Plant of Dangote Cement Plc.

This is part of the organisation’s commitment to food security and sustainable community development, under its annual farmers’ empowerment initiative, which has become a cornerstone of the company’s social investment strategy.

The beneficiaries received modern farming inputs alongside technical training aimed at improving crop yield, productivity, and income across the agricultural value chain.

Business Post gathered that each of the 60 farmers got three bags of 50kg NPK fertiliser, two bags of Urea fertiliser, one Knapsack sprayer and 10 litres of Force-Up herbicide.

Welcoming the guests and beneficiaries, the Plant Director, Mr Ayyagari Subbaraidu, emphasised that the programme was designed not only to support local farmers but to build a sustainable agricultural ecosystem within the company’s host communities.

He noted that the intervention aligns with Dangote Cement’s broader corporate social responsibility priorities, which include empowerment, education, health, and infrastructure development.

Mr Subbaraidu said, “At Dangote Cement, we understand that while we manufacture cement for the construction of homes, schools, hospitals, roads, and other critical infrastructure, true development is ultimately about people. It is about creating opportunities, improving livelihoods, and enabling communities to thrive. This philosophy remains at the heart of our operations and our relationship with our host communities.”

He disclosed that to date, 300 farmers across our host communities have benefited from training, farm inputs, and agricultural tools, noting that they have cultivated more than 800 acres of farmland and produced over 40,000 tons of agricultural output.

“These figures tell an important story, representing families whose livelihoods have improved, children whose educational needs have been supported, businesses that have grown, and communities that have become more resilient. They demonstrate what can be achieved when communities and corporate organisations work together toward a common goal,” he stated.

“We provide modern farm inputs to support our farmers to enhance productivity and achieve better yields. This is not just about distribution; it is about enabling a shift to more efficient and sustainable farming methods that will ultimately boost food production and livelihoods,” he said.

Mr Subbaraidu revealed that the training component of the programme is critical in ensuring that beneficiaries maximise the value of the inputs provided, as participants were taken through practical sessions on good agricultural practices, including crop protection and pest management techniques, equipping them with knowledge to mitigate farming risks and improve output.

Speaking on behalf of the communities, a representative described the programme as a “game changer” that has not only boosted food production but also strengthened the relationship between the company and its host communities.

One of the farmers, Mr Akanbi Moses from Aga-Olowo Community, noted that the provision of free inputs and training has significantly improved their productivity and income levels, enabling them to scale their farming activities. Another beneficiary highlighted how the training sessions have enhanced their understanding of modern farming techniques, resulting in better crop management and reduced post-harvest losses.

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Four Nabbed in Ogun, Lagos With 130kg of Elephant Tusks

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By Modupe Gbadeyanka

Officials of the Nigeria Customs Service (NCS) and the National Environmental Standards and Regulations Enforcement Agency (NESREA) on Saturday, June 13, 2026, apprehended four suspected wildlife traffickers in Ogun and Lagos States.

The suspects were arrested with 22 pieces of elephant tusks weighing 130.84 kg during coordinated operations in Ofada, Ogun State, and Lagos, acting on intelligence developed by Wildlife Justice.

In a statement made available to Business Post on Tuesday, it was stressed that the arrests follow several months of intelligence gathering and investigative work targeting a high-level wildlife trafficking network linked to the illegal ivory trade.

The operation targeted a senior figure within the illegal ivory trade who had been identified through Wildlife Justice intelligence as a key supplier and associate of traffickers arrested in previous investigations. Due to the individual’s long-standing role, extensive connections, and access to significant quantities of ivory, the arrest is expected to have a substantial disruptive impact on the trafficking network.

“Wildlife Justice commends NCS and NESREA for their commitment, and continued leadership in combatting organised wildlife crime,” said Olivia Swaak-Goldman, Executive Director of the Wildlife Justice Commission.

“Over the past five years, sustained intelligence-led operations and coordinated law enforcement action have transformed the wildlife trafficking landscape in Nigeria. Traffickers who once operated with relative impunity are now facing a very different reality. Many have been arrested, forced to relocate, or significantly altered their operating methods in response to enforcement pressure.

“This operation demonstrates the power of strong partnerships, intelligence-led enforcement, and the commitment of the Nigerian authorities to tackling organised wildlife crime. By systematically identifying and targeting key actors within trafficking networks, Nigeria is showing that it is possible to disrupt criminal operations, increase the risks for traffickers, and make wildlife crime an increasingly difficult and unsustainable business.”

The latest arrests further reinforce the structural shift taking place in Nigeria’s wildlife trafficking landscape, where sustained enforcement pressure is impacting the ability of criminal networks to operate and profit from the illegal wildlife trade. As a result, traffickers are increasingly reluctant to maintain large stockpiles and are often forced to move smaller quantities of wildlife products, reducing opportunities for large-scale transactions and making the trade more difficult and less profitable.

The operation marks the 21st successful investigation conducted in partnership with NCS since 2021 and the second successful operation with NESREA since 2025. Together, these partnerships have resulted in the arrest of 48 wildlife traffickers, the seizure of 1,196 kg of ivory and 25,545 kg of pangolin scales, and 16 convictions to date.

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2027: Court Orders Deregistration of ADC, Four Other Political Parties

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david mark adc chairman

By Adedapo Adesanya

Justice Peter Lifu of the Federal High Court in Abuja has ordered the deregistration of the African Democratic Congress (ADC) and four others over failure to meet the constitutional requirements for political parties in the country.

In a judgment, Justice Lifu ordered the Independent National Electoral Commission (INEC) to deregister the affected parties, having failed to secure 25 per cent of the votes in the last general elections in compliance with the provisions of the law.

The five political parties include ADC, Accord (A), Action Alliance (AA), Action Peoples Party (APP) and Zenith Labour Party (ZLP).

Justice Lifu, who earlier dismissed all the multiple preliminary objections filed by the defendants, ordered INEC not to allow the parties to participate in the subsequent elections, including the 2027 general polls, having failed to meet the constitutional threshold.

A group, the Incorporated Trustees of the National Forum of Former Legislators, had filed the suit against the five political parties.

The plaintiff, who also joined the Attorney-General of the Federation (AGF) in the suit, named INEC as the first defendant.

The forum argued that the affected political parties failed to meet constitutional requirements relating to electoral spread and performance.

It contended that political parties were required to secure at least 25 per cent of votes in prescribed elections to remain relevant under the law.

It therefore urged the court to order the deregistration of the parties, insisting that none of the defendants had effectively countered the arguments.

This development comes as the ADC announced former Rivers State Governor, Mr Rotimi Amaechi, as the running mate to its presidential candidate, former Vice President Atiku Abubakar, for the 2027 general election.

It said that the decision followed extensive consultations with party leaders, coalition partners, youth and women stakeholders, and representatives of all geopolitical zones.

“The National Leadership of the African Democratic Congress (ADC), after extensive consultations with party leaders, coalition partners, youth and women stakeholders, and representatives of all geopolitical zones, is proud to announce that Mr Chibuike Rotimi Amaechi has been selected as the vice-presidential candidate of our great party for the 2027 presidential election,” the party disclosed in a statement on Monday.

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