President Bola Ahmed Tinubu has approved part payment of all power sector debts, estimated at N3.3 trillion.

Adebayo Adelabu, Nigeria’s Minister of Power, disclosed this at Thursday’s 8th Africa Energy Marketplace in Abuja.

He noted that the federal government’s N1.3 trillion debt to power-generating companies would be paid via cash injections and promissory notes, while about $1.3 billion (N1.994 trillion using the current official closing rate) owed to gas companies will be paid via cash and future royalties.

Adelabu stressed that the federal government had commenced payment of the cash part of the N1.3 trillion debt owed Gencos and concluded plans to settle the second part via promissory notes within two to five years.

“The debt for the power-generating companies is N1.3tn. I can also tell you that Mr. President has consented to pay on the condition of reconciling these debts between the government and the power-generating companies.

“It is true that I mentioned that Mr President has approved the submission of the Hon. Minister of State Petroleum (Gas) to defray the outstanding debts owed to the gas supplying companies to the power sector operators.

“The payments will be in parts. We have the legacy debt and the current debt. For the current debt, approval has been given for a cash payment of about N130bn from the Gas Stabilisation Fund, which the Federal Ministry of Finance will pay if it hasn’t already,” he said.

In March, the government paid $120 million out of the $1.3bn indebtedness to gas companies.

On different occasions, Adelabu has blamed indebtedness to gencos for the epileptic power supply in the country.

Recall that on April 3, the Nigerian Electricity Regulatory Commission approved a 230 per cent electricity tariff hike for band A customers, who receive a 20-24 power supply.

A month later, the government slashed the hike by N18.2 to N206.8 per kilowatt-hour from 225kwh.

However, the Nigeria Labour Congress, Trade Union Congress, and other Nigerians have kicked against the hike, calling for its complete reversal.

The National Chairman of the ruling All Progressives Congress, APC, Abdullahi Ganduje has said that the decisions, policies and programmes introduced by President Bola Ahmed Tinubu will take the country out of the woods to progress and prosperity.

He gave the assurance on Thursday night when he hosted officials at the Forum of APC Local Government Chairmen of Nigeria at the party’s national secretariat in Abuja.

While commending the leadership virtues of Tinubu, the APC Chairman noted that the President, unlike his predecessors, took bold decisions to give the country the push that will usher her into the next level of prosperity and development.

“I assure you that our President, Asiwaju Bola Ahmed Tinubu is also a grassroots politician, tested and trusted. He is great, because he is bold enough to take some decisions which the previous administrations could not take and very soon, you will start seeing the positive effects of the reforms that he’s introducing.

“Our refineries will soon be producing abundant fuel. It is all over the world now that the narrative is changing about the use of petrol, CNG vehicles will soon be on ground where transportation will be cheaper.

“The reforms Asiwaju is introducing will take Nigeria to the next level,” Ganduje said.

The Federal Government, through the Nigerian Education Loan Fund, on Thursday, announced May 24, 2024, as the official date for “the opening of the portal for student loan applications.”

The announcement was made in a statement by the media lead for the NELFund,  Nasir Ayantogo.

Ayantogo, in the statement, said the opening of the application portal marked a significant milestone in the commitment of President Bola Tinubu to “fostering accessible and inclusive education for all Nigerian students.”

On June 12, 2023, Tinubu signed the Access to Higher Education Act, 2023 into law to enable indigent students to access interest-free loans for their educational pursuits in any Nigerian tertiary institution. 

The move was in “fulfillment of one of his campaign promises to liberalise funding of education,” a member of the then Presidential Strategy Team, Dele Alake, said.

The Act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund to process all loan requests, grants, disbursement, and recovery.

Although the government initially announced that the scheme would be launched in September, it suffered several delays leading to an indefinite postponement in early March.

The Presidency had linked the delay to Tinubu’s directive to expand the scheme to include loans for vocational skills.

After receiving briefing from the NELFund team led by the Minister of State for Education, Dr Yusuf Sununu, on January 22, the President had directed the Fund to extend interest-free loans to Nigerian students interested in skill-development programmes.

Tinubu based his decision on the need for the scheme to accommodate those who may not want to pursue a university education, noting that skill acquisition is as essential as obtaining undergraduate and graduate academic qualifications.

“This is not an exclusive programme. It is catering to all of our young people. Young Nigerians are gifted in different areas.

“This is not only for those who want to be doctors, lawyers, and accountants. It is also for those who aspire to use their skilled and trained hands to build our nation.

“In accordance with this, I have instructed NELFund to explore all opportunities to inculcate skill-development programmes because not everybody wants to go through a full university education,” he had said.

Through the portal, students can now access loans to pursue their academic aspirations without financial constraints.

The portal, according to the statement, provides a user-friendly interface for students to submit their loan applications conveniently.

“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.

“Students can access the portal on www.nelf.gov.ng to begin application,” the statement said.

The details of the meeting between President Bola Tinubu and his Senegalese counterpart, Bassirou Faye have emerged.

Recall that the Senegal President arrived in Nigeria on Thursday and met with President Tinuhu at the Presidential Villa in Abuja.

A statement issued by the presidential spokesman, Ajuri Ngelale, quoted President Tinubu saying that countries in West Africa must unite to defeat the scourge of terrorism, human trafficking, and poverty in the region.

He urged leaders in the region to make the people the focal point of governance, noting that the essence of democracy is lost when citizens are not enjoying dividends.

The president emphasised that democratic values and constitutional order are sacrosanct and must be protected.

He added that critical institutions like the judiciary must be respected and obeyed for the sustenance of democracy.

He said: “Constitutional democracy is what Senegal proved to the rest of the world and Africa. It is a joy to have you here and to meet the hope and aspirations of our youths. You fit in perfectly well.

“A critical time it is in the history of constitutional democracy, particularly in West Africa. What you have embarked upon, a struggle couched in freedom, is remarkable.”

The president described Nigeria and Senegal as brotherly nations, recounting both countries’ long history of cooperation.

He added: “We are brothers. We have shared an interest in democracy. To make democracy sustainable in the interest of our people, we definitely must work hard.

“I am glad that you are a shining example of patience, perseverance, and commitment to democratic values.

“We must partner to make our people the focus of our democratic commitment. Your belief in the sovereignty of Africa is shared by all of us.

“But how can we work for our people and make them the focus of our democracy if we are violating the rule of law and promoting an unconstitutional takeover of government?

“As the chairman of ECOWAS, I am inviting you to collaborate and meet those other brothers. To persuade them to come back to the fold.

“We will continue to work together. We share good backgrounds, and we will continue to embrace and promote democratic governance.

“We must be able to partner and build the freedom we believe in – in economic growth, development, and other spheres of governance. It is left for us to provide assurance to our people and walk our talk.

“We must defeat human trafficking; we must defeat terrorism, banditry, and poverty in our society. That must be our focus and commitment.”

Speaking during the meeting, Faye acknowledged Nigeria and Senegal’s shared values and challenges, noting that both nations have always had good relations since the 1960s.

He called for the reactivation of the Nigeria-Senegal joint commission to strengthen bilateral relations across the areas of diplomacy, trade, and other spheres.

On ECOWAS, Faye said with Tinubu’s wisdom and experience, relations among member states can be strengthened for the advancement of the community.

He said: “The good relations we have and the relations between our private sectors should be beneficial to our countries.

“ECOWAS is the beacon of successful regional integration in Africa and globally. It is something we owe to the founding fathers of the community.

“I have no doubt that you want to continue this legacy of integration. The union is going through a rough patch, but not everything is lost.

“I know I can rely on your wisdom and experience, as the leader of this great African nation.

“Your wisdom and your democratic values should be an asset to that vision, and my youth and determination can also be an asset.

“If we come together, with all these assets and advantages, I am convinced we can open a window of opportunity to discuss.

“United, we are stronger. Faced with common challenges, such as human trafficking, migrant smuggling, and all other challenges, we need to show resolve to confront these challenges so that economically we can thrive and satisfy the wishes of our people.”

The Federal Government on Thursday denied an allegation that it intended to borrow the N20tn pension fund for infrastructure development.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in a statement in Abuja, said the government would comply with the established rules and regulations governing the pension fund.

The minister was reported to have told journalists, after a two-day Federal Executive Council meeting at the Presidential Villa on Tuesday, that the government would unveil a plan to harness local funds, including the fund, to finance infrastructure development.

However, in a statement in Abuja on Thursday, Edun noted that the pension industry, similar to other sectors in the financial industry, is strictly regulated by specific legal frameworks.


He said the Federal Government did not plan to exceed these legal boundaries, emphasising that the government was committed to protecting workers’ pensions.

“It has come to my notice that stories are making the round that the Federal Government plans to illegally access the hard-earned savings and pension contributions of workers. Nothing could be farther from the truth.

Highly regulated

“The pension industry, like most the financial industries, is highly regulated. There are rules. There are limitations about what pension money can be invested in and what it cannot be invested in.

“The Federal Government has no intention whatsoever to go beyond those limitations and go outside those bounds which are there to safeguard the pensions of workers.

“What was announced to the Federal Executive Council was that there was an ongoing initiative drawing in all the major stakeholders in the long-term saving industry, those that handle funds that are available over a long period to see how, within the regulations and the laws; these funds could be used maximally to drive investment in key growth areas,” Edun clarified.

Furthermore, Edun clarified that the government had no intention of increasing the risk associated with the pension funds or allowing their investments to become less secure.

Earlier on Thursday, the Nigeria Labour Congress and the Trade Union Congress of Nigeria asked the Federal Government to refrain from tampering with the pension fund.

The NLC President, Joe Ajaero and the TUC Deputy President, Tommy Okon, in a joint statement on Thursday, advised the government not to risk the future of workers by borrowing the money to fund infrastructure development.

They stated, “Nigerian workers have entrusted their hard-earned savings for retirement security, not as a means for government projects. It is imperative to halt any further plans to tap into these funds, especially given the lack of transparency and accountability in past government borrowing practices.’’


The unions demanded assurances from the government that workers retirement funds [b]“would not fall victim to further Federal Government borrowing, especially when the PENCOM Board has not been constituted as envisaged by the statutes,’’ [/b]arguing further that any plan to borrow the funds is not backed by the Pension Act.

Labour expressed regrets that despite the government’s assurances of widespread consultation with major stakeholders in the pension industry, the NLC and TUC, representing the owners of the entire pension fund contributions, had neither been consulted nor informed about the government’s intentions.

According to the unions, the lack of transparency undermined the sanctity of pension funds, which it said should always be treated with the utmost reverence and protection.

Similarly, the Head of Information, Nigerian Union of Pensioners, Bunmi Ogunkolade, urged the government to find an alternative source to fund its infrastructure development plan, noting that the pension fund did not belong to pensioners but to workers.

He said, “Simply put, we are not in support. We have told the government to go and look for where to get their money. We have appealed to them that they should please look for where to get money to fund infrastructure or whatever.

On its part, the Nigeria Union of Pension in Kaduna State also advised the Federal Government against using the money for infrastructure development.

The state Secretary of the Nigeria Union of Pensioners, Mallam Alhassan Balarabe Musa, who stated this in an interview with The PUNCH, said, “The Federal Government under former President Muhammadu Buhari attempted a similar thing but failed.’’

“For us we are not happy about that. As of now, our national headquarters are trying everything to ensure that the fund is not going to be accessible.

“Now, we have so many retirees under contributory pension who are unable to get their gratuities. So, why will the Federal Government take that kind of amount? I think it’s going to be unfortunate and unacceptable.”

The NUP Pensioners, Ogun State Council, gave a similar warning.

The Secretary of the union, Dr Bola Lawal, said “I am sure if you have the opportunity to ask every pensioner none will accept this move of the government. Where is the assurance that this money will be paid back on time?

Osun pensioners

When contacted, the Coordinator, Osun State Contributory Pensioners, Mr Toyin Ayinde, warned the government against tampering with the contributions of retirees.

He said, “The government must not touch our money. What exactly is the matter with them? We don’t want anyone to touch our money under any guise. We are not interested in any proposal from them.”

Speakers of the 36 Houses of Assembly across the country have endorsed ongoing work by the National Assembly to make provision for state policing in the nation’s constitution.

The speakers made their resolution known at the end of a meeting in Abuja on Thursday night.

Recall that the Inspector-General of Police, IGP Kayode Egbetokun, had rejected the call for state police.

According to him, Nigeria is not mature for state police.

Egbetokun stated this in April at a national dialogue on state police organised by the House of Representatives in Abuja.

The theme of the dialogue is ‘Pathways to Peace: Reimagining Policing in Nigeria’.

Egbetokun, who was represented by Ben Okolo, an Assistant Inspector-General of Police, said Nigeria is not ready for the establishment of state police.

“On the issue of state police, it is the submission of the leadership of the Nigeria Police Force (NPF) that Nigeria is not yet mature and ready for the establishment of state-controlled police,” he said.


The IGP also claimed that state governors were likely to abuse the privilege of state police by using it for political gains, leading to possible abuse of power and abuse of human rights.

“State governors could use the police forces under their control for political or personal gain and undermine human rights and security. There would also be a conflict of jurisdiction,” he noted.

The acting Executive Secretary of the National Universities Commission, Chris Maiyaki, said, on Wednesday, that the Federal Government was working to reconstitute the governing councils of universities.

He said the Minister of Education, Prof Tahir Mamman, had put in place a panel to work on the list.

The NUC Executive Secretary said the councils would be inaugurated once the list was consummated.

Maiyaki spoke at a media parley with education reporters in Abuja on Wednesday.

He was responding to the two-week ultimatum issued by the Academic Staff Union of Universities to the government to reconstitute the governing councils of public universities.

ASUU had on Tuesday given the government a two-week ultimatum to reconstitute the governing councils of federal universities.

“To reconstitute the councils of 61 universities is not a small feat. The government is working to ensure that people who are qualified and with the right pedigree are put in those councils so that they can deliver on Mr. President’s Renewed Hope Agenda. We know ASUU is a body of academics and are concerned about the welfare of their members and the activities in universities but we want them to be patient with the government during this period.” 

Speaking on the number of universities in the country, the NUC boss said the commission was committed to expanding access to higher education.

“And for this, the current 272 universities in the NUS are not sufficient to accommodate the ever-growing demand for university education by Nigerian youths. “Each year, Nigerian universities receive close to two million applications, only a small fraction of them are admitted. That is why there is a need for Nigeria to continue to increase access by establishing more universities to meet the demand for quality education in the country,” Maiyaki said

On the initiatives put in place by NUC to boost the nation’s university system, he said the NUC had identified strategic priorities that encompass curriculum development, quality assurance, research and innovation, infrastructure development, and internationalisation, among others.

“To encourage partnerships with industry and promote blended learning, the NUC carried out an extensive review of university curricula from the Benchmark Minimum Academic Standard to the Core Curriculum Minimum Academic Standards, which reflect the aspirations of Nigeria to attain a knowledge economy, driven by the 4 Industrial Revolution, known as 4IR, and the 21-century skills.

“The CCMAS features an expansion of academic disciplines from 14 to 17.  The implementation of the new curricula came into effect in September 2023 for the 2023/2024 academic session.

“The implementation framework of the CCMAS makes provision for the training of staff in student-centred tuition-delivery capabilities and development of textual materials to enhance teaching and learning.

“Open and Distance Learning Guidelines In a bid to assure quality in the regulation of the NUS, the Commission developed guidelines to provide a framework for the orderly adoption, integration and mainstreaming of e-learning into the conventional face-to-face modes of teaching and learning in Nigerian Universities, among other objectives. 

“This initiative was needed to assure quality in the delivery of university education, via the Open and Distance Education mode, and keep pace with contemporary global best practices. The Commission produced the following guidelines, as part of the efforts to broaden open and distance learning in the Nigerian University System, “ he said.

The acting Executive Secretary said various guidelines, including  Guidelines on Trans-National Education in Nigeria; Guidelines for e-Learning in Nigerian Universities;Guidelines for the Implementation of the National Policy on Open Educational Resources  in Nigerian Higher Education, and the Guidelines for the Establishment of Private Open Universities in Nigeria, have also been churned out by the commission.

“The Guidelines for Transnational Education allows foreign Universities to collaborate in creating high-quality institutions in Nigeria through six competitive models This effort aims at making Nigerian graduates competitive, globally, so as to reduce the need for the nation’s young men and women going abroad to seek university education.

“The launch of these ODL guidelines marks a significant milestone in the history of the NUC towards its dedication to greater quality, equity and access to university education in Nigeria. It all follows from the recommendations for the establishment and expansion of universities, deeper IT penetration, and enhanced competencies in online delivery,” he added.

The Nigerian government lost billions of Naira annually for not applying airport tolls to Very Important Persons and VIPs.

The Minister of Aviation and Aerospace Space Development, Festus Keyamo, disclosed this, justifying the inclusion of VIPs in airport toll payments.

Recall that at the end of Tuesday’s Federal Executive Council meeting in Abuja, the Minister announced a new rule requiring VIPs, including President Bola Ahmed Tinubu and Vice President Kasim Shettima, to pay airport tolls.

He explained that funds that would have been used for the infrastructural development of Nigerian airports were wasted under the old rule.

According to him, VIPs will be the first to lament poor infrastructure in Nigerian airports, yet they were exempted from paying tolls under the old rule.

“This has led to the annual loss of billions of Naira, not millions, in the past. Yet, our airport infrastructure, you know, is decaying. I am helpless. I’m looking for concessionaires. I’m looking for help with decaying infrastructure.

“They will be the first to cry out, these same VIPs— ‘Why are the toilets like this? Why are your toilets smelling? Why can’t you can’t you do this?’

“They are the same people but don’t pay for the services. So, if we want improved infrastructure at the airport, we must pay for services,” he said.

Just like before, all nine Commissioners in the Executive Cabinet of Governor Sim Fubara of Rivers State believed to be loyal to the ex-governor, Nyesom Wike, were on Wednesday exited the Government.

The five Commissioners were Chinedu Mmom; Education Commissioner; Gift Worlu, Commissioner for Housing; Inime Aguma, Commissioner for Social Welfare; Austen Ben-Chioma, Commissioner for Environment; and Jacobson Nbina Commissioner for Transport.

It will be recalled that two Commissioners had earlier resigned in protest of their redeployment by Governor Sim Fubara.

They were Isaac Kamalu, who resigned after he was redeployed as the Commissioner of Finance to Ministry of Employment Generation and Economic Empowerment; as well as Zacchaeus Adangor, a Professor, who resigned as Commissioner after he was redeployed as the Commissioner for Justice and Attorney-General of Rivers State to the Ministry of Special Duties (Governor’s Office).

The first two resigned after they were given Federal appointments by President Bola Tinubu; Commissioner of Works, Dax George-Kelly also resigned to take up appointment as the Director-General of the Border Communities Development Agency (BCDA); and Emeka Woke (Wike’s chief of staff) who resigned as Commissioner for Special Projects to take up appointment as the CEO of Ogun-Osun River Basin Development Authority.

The remaining Commissioners are adjudged to be loyal to Governor Fubara.

BusinessDay gathered that new Commissioners are expected to be appointed in the coming days and will be presented to the House of Assembly for confirmation.

Now that all the Wike loyalists have left the Fubara cabinet, and the 27 lawmakers have been pushed into the defensive, observers expect two fiercely opposed camps in the State not spare any arrow in the fight.

The cabinet is expected to act and move faster but the detractors with deep inside knowledge may join the All Progressives Congress (APC) in the State and begin serious attacks in all fronts.

Meanwhile, coming days and weeks promise to be tense, considering tensed situation of things already being experienced in the State.

Labour Party National Chairman, Julius Abure, on Wednesday, appealed to the President of the Nigeria Labour Congress, Joe Ajaero, to set aside his differences and work together with the party leadership for old-time’s sake.

Abure made the plea at his first press conference following the April 3 fire incident that almost claimed his life at his Abuja residence.

Both Abure and Ajaero had been at loggerheads following several attempts made by the congress to take control of the party structure over claims the embattled LP chairman was running a one-man show amid allegations of financial malfeasance.

The LP camp had also made a counterclaim that Ajaero was desperately seeking to evict the Abure-led National Working Committee with an ulterior motive to use the party as a transactional platform ahead of the 2027 election.

Addressing newsmen at the party secretariat in Abuja, Abure described the NLC president as a friend and brother having worked together in the trenches over the years fighting for the welfare of workers.

The LP national chairman therefore urged the union leader to put aside his grievances and support their effort to rebuild the country in the interest of Nigerians.

He said, “Consequently, I want to appeal first to my brother, friend and Joe Ajaero, President of the NLC whom we have worked together in the trenches over the years in the struggle for workers, to put aside whatever may be his grievances. Let’s work in the interest of our people.

“Fighting the Labour Party is uncalled for and unwarranted, especially at this time when the working people of Nigeria are suffering. As we speak today, the minimum wage is still N30,000. There are unfair workers practices by employers across the country. The inflation in Nigeria is unprecedented and nobody talks about workers welfare.

“For us, we need to team up together to be able to fight for better working conditions for our people. We need not waste or dissipate our collective energies in fighting ourselves over nothing. The NLC should know by now that the attempt being made to take over the leadership of the party will not work. It is my appeal that working together is better.”