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Tinubu orders manhunt as terrorists kill over 40 in Niger

President Bola Tinubu has ordered a manhunt for the terrorists responsible for a deadly attack on communities in Niger State that left more than 40 people dead and many others abducted.

In a statement on Sunday personally signed by him, the President said he had directed the Minister of Defence, the Chief of Defence Staff, the Service Chiefs, the Inspector-General of Police and the Director-General of the Department of State Services to track down the perpetrators of the Kasuwan Daji attack and ensure they are brought to justice.

“These terrorists have tested the resolve of our country and its people. They must face the full consequences of their criminal actions,” Tinubu said.

“No matter who they are or what their intent is, they must be hunted down. In addition, those who aid, abet or enable them will also be brought to justice,” he added.

The President further ordered the immediate rescue of all abducted victims and directed that security operations around vulnerable communities, particularly those near forests, be intensified.

“These times demand our humanity. We must stand together as one people and confront these monsters in unison. United, we can and must defeat them and deny them any sanctuary. We must reclaim peace for these attacked communities,” Tinubu said, praying for the repose of the victims’ souls.

The presidential directive followed coordinated attacks by suspected bandits on Saturday afternoon in Agwara and Borgu local government areas of Niger State.

According to the Niger State Police Command, the attackers are believed to have emerged from the National Park forest along Kabe District before storming Kasuwan Daji in Demo Village via Kabe.

Police spokesman Wasiu Abiodun said the attack began around 4:30 pm and lasted for several hours.

“At about 4:30 pm on Saturday, suspected bandits invaded Kasuwan Daji, killed over 30 persons, burnt the market, looted shops and carted away food items,” Abiodun said.

He added that the attackers operated with little resistance due to the remoteness of the area, noting that security forces were later deployed.

“A joint security team has visited the scene, and efforts are ongoing to rescue the abducted victims. Further developments will be communicated,” he said.

While the police put the death toll at over 30, residents and community leaders said the casualties were significantly higher.

The Director of Communications of the Catholic Diocese of Kontagora, Rev. Fr Stephen Kabirat, said no fewer than 40 people were killed during the raid.

by admin — January 5, 2026 in News 0

OPEC+ pauses oil output hike, weighs Venezuela shock

The Organisation of Petroleum Exporting Countries and its allies, OPEC+, have agreed to pause their planned oil supply increases through the first quarter of 2026, opting to maintain current production levels amid a growing global surplus and uncertainty surrounding future output from Venezuela.

The decision was reached at a brief meeting on Sunday led by the group’s dominant producers, Saudi Arabia and Russia, according to a Bloomberg report.

Delegates at the meeting said it would be premature to adjust supply policy in response to recent political developments in Venezuela, following the reported capture of the country’s leader, Nicolás Maduro, by United States forces.

The report read, “OPEC+ stuck with plans to pause supply increases in the first quarter at a meeting on Sunday, as global markets face a surplus and the group awaits clarity on whether the shock US capture of Venezuelan leader Nicolas Maduro will impact supplies.

“Key members led by Saudi Arabia and Russia will maintain collective production levels through the end of March, the delegates said, asking not to be identified because the decision isn’t public.

“While they added it would be premature to adjust supply in response to Maduro’s capture, the outlook for Venezuelan output may become an important question in the months ahead for the group.”

Bloomberg noted that the virtual meeting lasted less than 10 minutes and did not include detailed discussions on Venezuela, as members agreed that any immediate supply response would be hasty.

Key producers confirmed that collective output levels would be maintained at least until the end of March 2026, reflecting a cautious stance as oil markets face oversupply and weakening price momentum.

Global crude markets have struggled under the weight of excess supply, with oil futures falling about 18 per cent last year, their steepest annual decline since the COVID-19 pandemic in 2020.

Forecasts for 2026 also point to a widening supply glut as production from OPEC+ and non-OPEC producers continues to outpace demand growth. Venezuela, which holds the world’s largest proven oil reserves, currently produces about 800,000 barrels per day, less than one per cent of global supply and a fraction of its historical capacity.

While the country’s long-term output recovery could add significant volumes to the market, analysts say such a turnaround would take years, even with renewed foreign investment.

US President Donald Trump recently said American oil companies could invest billions of dollars to rebuild Venezuela’s dilapidated energy infrastructure following the military operation that led to Maduro’s capture. However, sources cited by Bloomberg said key oil facilities were not damaged during the operation.

The latest pause comes after a strategic shift by OPEC+ in April 2025, when the group began rapidly restoring production cuts introduced in 2023. The move was widely seen as an attempt to reclaim market share lost to rivals such as US shale producers, despite signs that global supply was already ample.

Before Sunday’s decision, OPEC+ had agreed to bring back about two-thirds of the 3.85 million barrels per day of output previously curtailed, leaving roughly 1.2 million barrels per day yet to be restored.

However, actual supply increases have lagged behind targets due to capacity constraints in some member states and efforts by others to compensate for earlier overproduction.

The decision to freeze supply increases carries significant implications for Nigeria’s oil-dependent economy. As Africa’s largest crude producer and a member of OPEC, Nigeria’s fiscal position remains closely tied to global oil prices and export volumes.

By maintaining current output levels in a market already facing surplus, OPEC+ is likely to keep crude prices stable but subdued in the near term, limiting upside revenue potential for oil exporters.

Oil earnings account for the bulk of Nigeria’s foreign exchange inflows and a substantial share of government revenue, making OPEC+ supply decisions critical for budget planning, debt servicing, and exchange rate stability.

Nigeria has also struggled in recent years to fully meet its OPEC production quota due to oil theft, pipeline vandalism, and years of underinvestment, constraining its ability to benefit even when output caps are loosened.

Prolonged periods of weak oil prices could further strain Nigeria’s public finances, widen budget deficits, and increase pressure on the naira.

In response, the Federal Government has continued to push reforms aimed at boosting crude output, improving domestic refining capacity, and accelerating economic diversification away from oil through non-oil exports and domestic revenue mobilisation.

OPEC+, which includes the 13-member OPEC bloc and allies such as Russia, controls a significant share of global oil supply, giving its production decisions outsized influence over oil prices and the economic fortunes of oil-producing nations like Nigeria.

by admin — January 5, 2026 in Business 0

NNPC subsidiaries’ debt balloons 70% to N30tn

Despite its transition into a commercial entity, the Nigerian National Petroleum Company Limited is grappling with mounting financial pressure as unviable and underperforming subsidiaries deepen inter-company indebtedness, pushing outstanding obligations owed to the company to N30.30tn.

Latest findings from NNPC’s 2024 audited financial statements showed that debts owed by subsidiaries, joint ventures, and other related entities rose by 70.4 per cent, or N12.52tn, from N17.78tn in 2023 to N30.30tn as of December 31, 2024. The sharp increase has raised fresh concerns about the company’s liquidity management and long-term financial sustainability.

An analysis of the audited accounts, recently released by the oil firm, conducted on Sunday, revealed that several of the national oil company’s core operating subsidiaries—particularly its refineries, trading arms, and gas infrastructure units—accounted for the bulk of the ballooning intercompany receivables.

The report showed that while the national oil company operates 32 subsidiaries, only eight are not indebted to the parent company, leaving the majority burdened with varying levels of inter-company debt.

This development comes as NNPC continues to navigate concerns surrounding the write-off of substantial debts owed to the Federation and advances plans to divest non-core assets as part of its ongoing transformation into a profitable, commercially oriented national oil company.

Last week, The PUNCH exclusively reported that President Bola Tinubu approved the cancellation of a significant portion of the debts owed by NNPC to the Federation Account, wiping off about $1.42bn and N5.57tn after a reconciliation of records between both parties.

The company has also begun moves to sell stakes in some of its oil and gas assets.

Announcing the company’s 2024 financial results, Group Chief Executive Officer, Bashir Bayo Ojulari, said NNPC recorded a Profit After Tax of N5.4tn on the back of N45.1tn in revenue for the year, representing increases of 64 per cent and 88 per cent respectively over the 2023 figures.

Despite these strong headline numbers, the surge in inter-company debts to N30.30tn underscores the need for a rethink of liquidity strategy and balance-sheet management if the company is to sustain profitability and successfully execute its planned divestments and restructuring.

Topping the list of subsidiaries owing NNPC is the Port Harcourt Refining Company Limited, which posted inter-company debts of N4.22tn in 2024, up sharply from N2.00tn in 2023. This reflects the financial strain associated with years of rehabilitation spending and prolonged operational downtime.

Next was the Kaduna Refining and Petrochemical Company Limited, whose obligations rose to N2.39tn from N1.36tn a year earlier, while the Warri Refining and Petrochemical Company Limited owed N2.06tn, up from N1.17tn in 2023.

The PUNCH reports that although the Port Harcourt, Warri, and Kaduna refineries have undergone several rounds of turnaround maintenance aimed at boosting domestic refined petroleum output, they have yet to operate sustainably at commercially viable levels.

As a result, they remain largely dependent on continued financial support from the parent company, contributing significantly to rising inter-company debts reflected in NNPC’s 2024 accounts.

NNPC’s trading operations also featured prominently, with NNPC Trading SA owing the parent company N19.15tn, more than double the N8.57tn recorded in the previous year.

Smaller but notable receivables were recorded from NNPC Gas Infrastructure Company Limited (N847.98bn), Nigerian Pipelines and Storage Company Limited (N466.74bn), Maiduguri Emergency Power Plant (N179.33bn), NNPC Eighteen Operating Limited (N681m), NNPC Trading Services (UK) Limited (N1.97bn), Nidas Shipping Service Agency Limited (N1.26bn), Kaduna IPP Limited (N1.83bn), Kano IPP Limited (N1.47bn) and Hyson Nigeria Limited (Joint Venture) (N102m).

Other subsidiaries with outstanding balances include Petroleum Products Marketing Company Limited (N264.75bn), NNPC Medical Services Limited (N106.75bn), NNPC Shipping and Logistics Limited (N99.99bn), NNPC Gas Marketing Company Limited (N54.71bn), NNPC Engineering and Technical Company Limited (N50.86bn), Gwagwalada Power Limited (N326.58bn), National Petroleum Telecommunication Limited (N26.37bn), NNPC LNG Limited (N28.22bn), NNPC Properties Limited (N18.94bn), and NNPC New Energy Limited (N5.51bn).

In total, amounts owed by related parties climbed from N17.78tn in 2023 to N30.30tn in 2024, underscoring deepening liquidity pressures within the NNPC group structure.

Conversely, the report showed that NNPC’s obligations to its subsidiaries and related entities also increased, rising to N20.51tn in 2024 from N14.17tn in 2023, representing a 44.7 per cent year-on-year increase.

The bulk of this exposure relates to NNPC Trading Limited, to which the national oil company owed N16.36tn as of December 2024, up sharply from N6.70tn a year earlier.

Similarly, NNPC Exploration and Production Limited was owed N4.02tn, down from N4.85tn in 2023, while smaller balances were recorded for NNPC Retail Limited (N10.95bn), NNPC HMO (N3.47bn), Antan Producing Limited (N7.20bn) and NNPC Gas Infrastructure Company Limited (N106.97bn).

The sharp rise in inter-company balances reflects lingering financial complexities arising from NNPCL’s transition from a state corporation to a limited liability company under the Petroleum Industry Act.

The swelling debts come amid the company’s renewed push to divest non-core assets, improve liquidity and attract external capital. NNPCL has repeatedly signalled plans to sell stakes in refineries, pipelines, power plants and other infrastructure assets to strengthen its balance sheet.

Recently, the company confirmed it was reviewing its asset portfolio to unlock value, reduce debt exposure and reposition itself as a commercially viable national oil company capable of competing globally.

Energy experts say resolving inter-company receivables and payables will be critical if NNPC is to execute its asset-sale plans successfully and reassure potential investors of its financial discipline.

Commenting, petroleum economist Prof Wumi Iledare said NNPC must begin operating as a true commercial holding company by enforcing strict settlement timelines among subsidiaries and ending the practice of allowing inter-company obligations to linger indefinitely.

He warned that the N30.3tn inter-company debts recorded in NNPC’s 2024 audited accounts point to deep-rooted structural and governance weaknesses, rather than outright insolvency.

In a personal note reacting to The PUNCH report titled “NNPC’s N30.3tn Debt, A Simple Way to See It from PEWI’s Lens,” Iledare said the scale and pace of the debt build-up should raise red flags, particularly as it represents a 70 per cent increase within a single year.

“The audited report showing N30.3tn in debts between NNPC and its subsidiaries should worry us, not because NNPC is ‘bankrupt,’ but because it exposes a deep structural problem.

“Most of this debt is NNPC owing itself. That usually happens when subsidiaries keep operating without paying for crude, products, or services, while losses are quietly carried forward. But a 70 per cent jump in one year is a clear warning sign. It means inefficiencies are growing faster than reforms.

“Only eight out of 32 subsidiaries being debt-free tells us this is not bad luck; it is weak commercial discipline,” he said.

Iledare stressed that the issue could not be dismissed as operational misfortune, noting that the solution lies in enforcing strict commercial rules rather than writing off debts.

“Even internal debt affects operations. Cash that should go into maintenance, investments and growth is tied down. Profitable units end up subsidising weak ones. Over time, accountability disappears, and performance suffers. The real fix is not debt forgiveness.

“NNPC must act like a true commercial holding company: enforce settlement timelines between subsidiaries, restructure or merge non-viable entities, clearly separate legacy pre-PIA debts from new obligations, and hold subsidiary CEOs accountable for cash flow and profitability,” he added.

He concluded that the rising inter-company debt burden represents a defining moment for the restructured national oil company.

“Bottom line: this debt is a governance test, not just an accounting number. If tolerated, it will recreate the old NNPC problems under a new name. If confronted honestly, it can become the turning point toward a truly profitable, PIA-compliant NNPC.”

Also commenting, the Chief Executive Officer of Petroleumprice.ng, Jeremiah Olatide, said the 70 per cent increase from 2023 reflects “financial recklessness” within the national oil company. “The N30.3tn debt owed by NNPCL and its subsidiaries is quite alarming,” Olatide told The PUNCH.

“A 70 per cent increase from 2023 represents financial recklessness. This debt burden could have a largely negative impact on the company’s operations, given that 25 out of 33 subsidiaries are in debt.

“If not for the intervention of the Federal Government to cancel $1.42bn in legacy debts to ease financial pressure—which is commendable—NNPCL management would be under even greater strain. However, the cycle of debt must be urgently addressed, as it will be detrimental to future operations,” he said.

Olatide added that a strong debt-management framework is essential for NNPCL’s sustainability. “Going forward, proper debt management and restructuring, combined with regular audits and transparent reporting, will enhance accountability and help mitigate the recycling of debts within the group,” he said.

Meanwhile, NNPC’s borrowings more than doubled in 2024, rising from N55.7bn in 2023 to N122.8bn, according to the company’s audited financial statements. The increase, driven largely by new loan arrangements and accrued interest, reflects efforts to fund strategic projects such as the Gwagwalada Independent Power Project.

The report showed that the company added N44.36bn in new borrowings during the year, alongside N1.69bn in interest and an exchange adjustment of N4.02bn, bringing total borrowings to N122.76bn as of December 31, 2024.

Of this amount, N70.56bn was classified as current borrowings, while N52.20bn was non-current, highlighting repayment obligations extending beyond 12 months.

According to the report, loan facilities were extended by NNPC E&P Limited and The Wheel Insurance Company to fund the Gwagwalada IPP. NNPC E&P disbursed N92bn in 2023, repayable over four years with a one-year moratorium on principal repayment, while The Wheel Insurance provided N46bn in 2024, repayable over one year with a six-month moratorium. Interest on both facilities accrues at 30-day Term SOFR plus a four per cent margin, with an additional liquidity premium applied to the NNPC E&P loan.

The report also indicated that the consolidated group reported no borrowings in both 2023 and 2024, suggesting that these liabilities are company-level obligations and do not reflect debt at the subsidiary or joint-venture level.

The surge in loans comes as NNPCL continues to manage complex inter-company debt dynamics, with subsidiaries owing the parent company N30.3tn as of 2024, raising further questions about internal cash management and the financial sustainability of certain units within the group.

by admin — January 5, 2026 in Business 0

Dangote pumps 43 million litres, denies petrol shutdown

Officials of the the Dangote Petroleum Refinery have said that the plant pumped 43.3 million litres of Premium Motor Spirit (petrol) into the Nigerian market on Saturday.

They exclusively disclosed this to our correspondent, debunking claims that the refinery had shut down its petrol processing unit for maintenance.

The officials, who preferred not to be named due to a lack of authorisation to speak on the matter, explained that some marketers were only looking for excuses to increase petrol gantry prices, which the refinery crashed from N828 to N699 per litre.

Over the weekend, there were reports that some depots raised petrol prices above N800 per litre, on claims that the Dangote refinery had shut its petrol u

But an official of the $20bn plant queried the plan by depot operators to increase petrol prices.

Asked if the refinery had been undergoing a maintenance downtime that could trigger a price hike, the source replied, “False! Have we stopped loading or turned back a single truck that has come to load? Yesterday (Saturday) alone, we loaded 43.30 million litres of PMS.”

The source said this was “about 50 per cent more than the actual daily (petrol) consumption of Nigeria”.

Another official told The PUNCH that the company has enough fuel in its tanks to serve the country for the next 20 days, saying this was to allay any fear of supply disruptions or fuel scarcity. “We have a stock which is more than 20 days of Nigerian consumption,” the source stated.

The official expressed concerns that some traders were hiking prices to create tension in the sector, urging Nigerians to patronise filling stations selling Dangote products. “The public should go only to filling stations where our products are sold. They will get whatever they require there,” he stated.

The PUNCH reports that private depots across Lagos and other key fuel trading hubs have increased the ex-depot price of PMS to as high as N800 per litre over the claim that Dangote had shut down its petrol unit.

According to petroleumprice.ng on Saturday, the average cost of petrol at private depots increased within 48 hours, creating concerns over a possible spike in retail pump prices. While the Dangote refinery said it sells petrol at N699 per litre, other depot prices jumped above N800.

Eterna and Integrated depots raised petrol prices to N800 per litre on Friday, compared with N726 per litre at Shellplux and AIPEC earlier in the week, indicating a jump of N74 per litre within two days. Similarly, Aiteo and Lister depots sold petrol at N780 per litre, up from the N750–N760 band recorded on Wednesday.

The impact was more pronounced in Warri, one of the country’s key petroleum logistics hubs. While Matrix Energy and other major depots sold petrol at N800 per litre on Wednesday, prices climbed to as high as N805 per litre by Friday, according to the report.

Marketers were said to have linked the price surge to a “shutdown of the petrol unit at the Dangote refinery”, which is currently a major domestic supplier of PMS, helping to moderate prices following the removal of fuel subsidies.

In December, the Dangote refinery reduced its petrol gantry price from N828 to N699 per litre. The refinery shocked depot owners and marketers when it slashed the gantry price of petrol by N129, causing them to incur losses running into billions of naira.

During a briefing, the President of the Dangote Group, Aliko Dangote, vowed to enforce the new price regime, with MRS selling petrol at N739 nationwide.

The PUNCH reports that as more MRS filling stations in Lagos and Ogun states joined in dispensing petrol produced by the Dangote Petroleum Refinery at N739 per litre, motorists started boycotting retail outlets that sold the product at higher prices.

This compelled other stations to lower their petrol prices, selling at an amount that is far below their cost of purchase.

Meanwhile, as marketers said they were losing billions of naira, Dangote replied that he was also losing money. Findings by The PUNCH showed that petrol importers might lose as much as N102.48bn monthly following the Dangote refinery’s reduction in gantry price.

At the same time, the refinery is projected to lose about N91bn in a month as a direct consequence of the price cut. But Aliko Dangote said he would prefer losing money to allowing petrol imports to thrive.

Analysts noted that the price uptick is a deliberate move by importers to make up for the losses suffered when Dangote slashed petrol prices. However, this may not be achieved, as the refinery ruled out any imminent supply disruptions.

by admin — January 5, 2026 in Business 0

FirstBank to host economic outlook event for 2026

In a statement, the bank announced that the Nigeria Economic Outlook 2026 will take place on Tuesday under the theme “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth.”

The PUNCH reports that the event is an annual customer-facing session designed to provide insights into prevailing economic realities and help customers navigate the economy at the start of the year.

Commenting ahead of the event, the Acting Group Head, Marketing and Corporate Communications, FirstBank, Olayinka Ijabiyi, said the initiative would help customers make informed decisions based on expert insights.

The session will feature a lineup of economic analysts and industry leaders, with the keynote address to be delivered by the Group Chief Economist and Managing Director, Research and Trade Intelligence, Afreximbank, Yemi Kale.

The bank reaffirmed its commitment to supporting Nigerians in achieving their financial aspirations and driving growth across the economy.

by admin — January 5, 2026 in Business 0

Fubara our leader in Rivers – APC Nat’l Chairman gives condition to support gov’s second term

The All Progressives Congress, APC, National Chairman, Nentawe Yilwatda, has declared Governor Sim Fubara as the leader of the party in Rivers State.

This comes amid the renewed hostilities between Fubara and the Minister of the Federal Capital Territory, FCT, Nyesom Wike over leadership postion in the state.

Following his defection to the APC, Fubara had declared himself as the 001 of APC in the state.

But, Wike had dismissed the governor’s stance, stressing that he controls the political structure in the state, since APC and the Peoples Democratic Party have teamed up to support President Bola Tinubu in 2027.

Reacting, the APC National Chairman, however, said he would support Fubara for a second term if he wins the party’s primaries.

In an interview on Channels Television’s Hard Copy, Yilwatda said: “Governor Fubara is the leader of the APC in Rivers State, but he would need to coordinate with every other person in the state.

“I don’t choose who to support in the state’s primary election. If Fubara emerges as the APC candidate, I’ll support him.

“If he loses the primary, I’ll sympathise with him and go with the person who wins the primary election.”

by admin — January 3, 2026 in News 0

Tinubu: Secondus, Omehia, Sekibo, others couldn’t give Atiku 10% votes – Wike mocks Fubara

Minister of the Federal Capital Territory, FCT, Nyesom Wike, has reacted to comment by Governor Sim Fubara of Rivers State that some supporters of former Vice President Atiku Abubakar are now backing President Bola Tinubu.

Speaking at a new year banquet on Thursday in Port Harcourt, Fubara said Prince Uche Secondus, Rt. Hon. Austin Opara, Alabo Abiye Sekibo, and former Governor, Sir Celestine Omehia are now supporting him and Tinubu.

Reacting, Wike said these men failed to give Atiku 10 percent votes during the 2023 presidential election.

Speaking in Ogba/Egbema/Ndoni (ONELGA) Local Government Area of Rivers yesterday, Wike assured Tinubu of the required support to win the 2027 presidential election.

He said: “I heard somebody (Fubara) say, ‘Oh, those who want Atiku are back.’ they couldn’t give Atiku 10% in 2023, so what is the political advantage?

“I won’t call their names but you all know them, we will do all we can to see that we give Tinubu the total support that is required.”

He also lambasted the Ohanaeze President-General, John Mbata for referring to him as a semi-illiterate.

Wike said: “Ordinarily, I won’t have bothered myself but I will say it. Somebody who was a former senator said the FCT Minister is a semi-illiterate but the same person dropped out from Rivers State University when he was reading law, he could not make it.

“I meant to University of Port Harcourt, finished, went to the same university he dropped out and went to the law school, today, I’m life bencher.

“The semi-illiterate has the fourth highest national award in Nigeria.”

by admin — January 3, 2026 in News 0

Nigerians will have constant, reliable power supply in 2026 – Minister

The Minister of Power, Mr Adebayo Adelabu, has assured Nigerians that the Federal Government’s priority in 2026 is reliable, accessible and sustainable electricity supply.

The assurance is contained in a statement issued on Friday in Abuja by his Special Adviser on Strategic Communications and Media Relations, Mr Bolaji Tunji.

Tunji said Adelabu gave the assurance in his New Year message to Nigerians and the people of Oyo State.

“Looking ahead, our focus remains unshakable: to deliver reliable, accessible and sustainable electricity to power our homes, industries and dreams,” Adelabu said.

He said the path forward would be driven by continuity and renewed vigour, with efforts to enhance grid stability and expand transmission infrastructure.

Adelabu said collaboration with Electricity Distribution Companies would be intensified to improve service delivery and ensure metering initiatives reach every community.

“Our Light Up Nigeria initiative remains a priority, focusing on industrial clusters and agricultural hubs to stimulate economic growth and job creation,” he said.

The minister said renewable energy development would also be prioritised, with solar and hydropower deployed to serve underserved communities.

He described 2025 as a year of focused groundwork and deliberate strides in the power sector, despite prevailing challenges.

According to him, progress was recorded in strengthening the national grid and improving overall stability during the year.

Adelabu said the Presidential Power Initiative, known as the Siemens deal, had helped curb frequent grid collapses experienced in previous years.

“As Phase One of the PPI continues, we assure Nigerians of a strengthened grid that will make disturbances a thing of the past,” he said.

The minister thanked Nigerians for their resilience, saying their support remained critical to building a robust energy future.

“The journey ahead requires a united front,” Adelabu said, calling on governments, communities, the private sector and citizens to partner in reforms.

He urged Nigerians to protect power infrastructure and adopt energy-efficient practices, describing them as vital national contributions.

Extending greetings to Oyo State residents, Adelabu said the new year would usher in measurable progress in the power sector.

“To my kinsmen and women in Oyo State, your unwavering support continues to fuel my dedication at the national level,” he said.

by admin — January 3, 2026 in News 0

Rivers: Governor Fubara’s EXCO approves N1.85trn 2026 budget proposal

Rivers State Executive Council on Friday approved N1.854 trillion budget proposal for the 2026 fiscal year.

The budget, which was tagged the “Budget of Resilience for Growth and Development” was given approval after a thorough deliberation at the EXCO meeting.

The meeting, which marked the first in 2026, was presided by the state governor, Siminalayi Fubara with his deputy, Prof. Ngozi Odu and others in attendance.

Speaking to journalists at the end of the meeting, Fubara’s Special Adviser on Economic Matters and Social Development, Prof Peter Medee said the council approved N1,854,248,734,475.76 for the provision of goods and services in the state in 2026.

Medee explained that the proposed estimate was designed in such a way that it would reflect the development priorities of the Fubara’s administration.

He noted that the budget is also expected to address some other critical obligations of the state.

by admin — January 3, 2026 in News 0

Osun: Police warn against plans to disrupt council resumption

The Osun State Police Command has warned against an alleged plan by some individuals to disrupt the smooth resumption of duties by local government employees under the aegis of the National Union of Local Government Employees, NULGE, across the state.

The warning was contained in a public service announcement issued by the command following credible intelligence reports on Friday.

According to the statement, which was signed by the Commissioner of Police, CP Ibrahim Gotan and issued by ASP Giwa-Alade Emmanuel, Deputy Police Public Relations Officer, “the alleged plan targets council secretariats in the 30 local government areas, Ife East Area Office, Modakeke, as well as local council development areas.”

The Commissioner of Police, CP Ibrahim Gotan, cautioned that “any individual who is not a bona fide staff member of the local government authorities must refrain from approaching or loitering around the secretariats.”

He stated that police personnel had been “directed to act decisively against anyone found attempting to incite unrest or disrupt public order at council premises.

“Such malicious plans will not be tolerated and will be met with resolute and decisive action by the Command to maintain law and order.”

CP Gotan added that it would not allow any group to undermine the prevailing peace and tranquillity maintained across Osun State.

CP Gotan reassured residents of the Command’s commitment to the protection of lives and property, noting that officers would continue to carry out their constitutional duties with vigilance and professionalism.

He urged members of the public to remain law-abiding and vigilant, and to cooperate with security agencies by promptly reporting suspicious activities.

Residents were also advised to “contact the Police Control Room on 08039537995 or 08123823981, the Complaint Response Unit on 08035143235, 08066286549 or 08030732461, or through the Command’s official social media platforms for assistance.”

DAILY POST had reported that NULGE in a statement on Monday announced that its members across the state would resume back to work on Monday, January 5, 2026 after an eleven month strike.

The decision to go back to work was coming after NULGE Osun State chapter declared a strike in February, 2025 after elected officials of both the All Progressives Congress, APC, and the Peoples Democratic Party, PDP, violently clashed over control of the local government secretariats in the state.

The violent clashes repeatedly led to the loss of lives in opposing camps prominent among whom is Remi Abass, an APC stalwart in Ikire, Irewole local government council area of the state.

by admin — January 3, 2026 in News 0