General News
Tinubu to Commission $800M Geometric Power in Aba Today
President Bola Tinubu will today commission Nigeria’s only integrated power project, the $800 million Geometric Power Aba Limited (GPAL) in Osisioma Ngwa Local Government Area (LGA), Abia State.
GPAL is licensed to produce 188 Megawatts (MW) and it is currently Nigeria’s only integrated power project, as it has its own embedded power plant, which enables it to generate and distribute its own power, separating it from other electricity companies that either generate or distribute electric power, as none can generate and distribute power as it would.
It was gathered that the electricity generation company in the Geometric Power Group (GP) is Geometric Power Aba Ltd, (GPAL), while the distribution company is Aba Power Limited Electrical (APLE), which services nine out of the seventeen local government areas in Abia State.
These nine LGAs are: Aba South, Aba North, Osisioma Ngwa, Obingwa, Ugwunagbo, Ukwa East, Ukwa West, Isiala-Ngwa South and Isiala-Ngwa North collectively make up the Aba Ring-fenced Area where GPAL in charge of producing and distributing electricity.
Addressing newsmen during a news conference, the Chairman of the company, Professor Barth Nnaji said that GPAL has invested almost $800 million in the Integrated Power Project, making it by far the largest single investment in the Southeast geopolitical zone of Nigeria.
He explained that so far, GP has installed three turbines purchased from General Electric (GE) of the United States, the oldest and largest electricity equipment manufacturing company in the world, with each producing 47MW to enable it to achieve the 188MW it was licensed to produce when the fourth is installed.
Nnaji, however, explained that the fourth turbine will be installed when the demand for power increases substantially, stressing that by their records, Aba cannot immediately consume all of the 141MW coming from three turbines, hence the capacity will be scaled up to 188MW when the consumption increases.
The Geometric Power Chairman also specifically said that the Mon- day commissioning of the entire power project by President Bola Tinubu will not automatically guarantee 24-hour electricity to the city of Aba, but will rather trigger the process of achieving steady power supply, stressing that the launching of the turbines will be done in phases.
He however explained that the mission of achieving a steady power supply to Aba is already accomplished as the plan on the ground is to ensure that the date gap between the usage of the first turbine which will start producing 47MW from Monday and the usage of the second turbine will not exceed three weeks’ interval.
“The commissioning of the turbines will be staggered. They would be commissioned one by one. The first turbine will increase the power supply to the Aba Ring-fence Area by 47MW, which is almost double the current 25MW supply from the Niger Delta Power Holding Company (NDPHC).
“When the first turbine is commissioned, it will be monitored closely. Once the performance is considered satisfactory, the second turbine will be commissioned. The same process will be followed in commissioning the third turbine,” Nnaji said.
Federal government has launched Credit for Laptops, Internet, Connectivity and Knowledge Digital Devices (C.L.I.C.K.D.), a new consumer credit initiative, to provide affordable financing for locally assembled laptops and other digital devices.
L-R: Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, and Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, at the launch
The initiative by the Nigerian Consumer Credit Corporation (CREDICORP) and the Federal Ministry of Communications, Innovation and Digital Economy, is aimed at equipping Nigerians with the tools needed to participate in the country’s growing digital economy.
During the launch, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, described access to credit as critical to improving productivity and driving economic growth.
Dr Tijani said no nation could achieve sustainable development without a strong credit system that enables individuals and businesses to access resources needed to become more productive.
He noted that in today’s digital age, technology has become indispensable for education, innovation and wealth creation.
The minister explained that many talented young Nigerians possess the skills required to succeed in the digital economy but remain constrained by their inability to own computers and other digital tools.
Drawing from his personal experience, Dr Tijani recalled how his first laptop as a student in the university opened doors to international opportunities and eventually inspired him to establish one of Nigeria’s pioneering technology hubs.
He said the new programme would ensure that more young Nigerians are not denied similar opportunities because of financial barriers.
According to him, the initiative aligns with President Bola Tinubu’s vision of building a one-trillion-dollar economy by expanding access to technology, boosting productivity and supporting local manufacturing.
Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, described the programme as a strategic investment in Nigeria’s future workforce and digital transformation.
Mr Nwagba said that while improvements in internet connectivity and digital skills training have positioned Nigeria for the Fourth Industrial Revolution, access to devices remains a major challenge preventing many young people from fully participating in the digital economy.
He explained that C.L.I.C.K.D. would bridge that gap by providing affordable consumer credit that enables beneficiaries to acquire laptops and other internet-enabled devices while they develop in-demand digital skills
Federal Government has announced the disbursement of about N333 billion to eight electricity generation companies (GenCos) as part of measures to resolve outstanding debts in the power sector.
The government also disclosed the issuance of a second bond valued at N729 billion to settle verified legacy obligations and improve liquidity within the Nigerian Electricity Supply Industry (NESI).
The disclosures were made on Tuesday at an investors’ forum organised by the Nigerian Bulk Electricity Trading (NBET) Plc in Abuja.
Government representatives said the latest bond issuance marked the completion of the initial phase of the Presidential Power Sector Debt Reduction Programme, which was designed to address verified liabilities and attract private sector investment across the electricity value chain.
The Special Adviser to the President on Energy, Mrs Olu Verheijen, said the implementation of the first series of the programme demonstrated the administration’s commitment to meeting its financial obligations and improving investor confidence.
Verheijen disclosed that the Federal Government in February 2026 allocated about N501 billion under the first tranche of the programme, comprising N300 billion in cash and N201 billion in non-cash bond instruments to offset verified debts owed to power producers.
She said N333 billion had so far been disbursed to eight participating GenCos operating 17 power plants.
According to her, the government also paid the first coupon of about N63.5 billion on the seven-year bond in full on July 14, 2026.
She explained that the payments had enabled generation companies to meet critical obligations to gas suppliers, lenders and operations and maintenance contractors, thereby improving their operational capacity.
“Markets do not reward promises; they reward performance. Capital follows credibility,” Verheijen said.
She added that the second bond series would further strengthen liquidity in the electricity market and create a more stable financial environment capable of attracting long-term private investment.
The Presidential Power Sector Debt Reduction Programme is part of broader Federal Government efforts to address challenges affecting electricity generation, distribution and investment in Nigeria’s power sector.
Federal government has launched a N482.4 million investment fund to support 12 tech-enabled Nigerian startups.
The initiative under the federal government of Nigeria’s Investment in Digital and Creative Enterprises (iDICE) Programme was implemented by the Bank of Industry (BoI).
The initiative in a statement said applications have been opened for Growth Lab, a 12-week acceleration programme that will select the 12 tech-enabled Nigerian startups, from the six geopolitical zones, for intensive growth support, investment readiness training, and access to up to $350,000 in funding.
According to Ife Adebayo, national coordinator of the Programme, growth lab was designed to support startups that have achieved early traction and are seeking the expertise, networks, and investment required to scale following the implementation of Founders Lab.
“Growth Lab is the Startup Bridge accelerator programme, designed for startups that have developed an MVP and require structured support to scale. The programme focuses on strengthening venture fundamentals and preparing companies for external investment.
“The programme targets startup founders who are seeking the support, networks, expertise, and investment readiness required to accelerate growth and strengthen their position within the Nigerian innovation ecosystem,” he said.
He added that selected founders will gain access to structured growth support, investment readiness preparation, access to industry experts, market expansion pathways, a $100,000 cash investment (or Naira equivalent) for 7.5% equity upon entering the programme (terms and conditions apply), and up to $250,000 in potential follow-on investment should certain growth conditions be met.
“Eligible startups must be at the post-MVP stage, demonstrate evidence of market validation through users, customers, pilots, partnerships, waitlists or any other demand signals, and be willing to participate fully in the hybrid programme,” he said.
The programme will run as an intensive 12-week hybrid experience, including virtual engagements and two physical weeks in Lagos focused on collaboration, learning, and business growth.
The statement said applications opened on July 15, 2026, and will close on August 19, 2026.
According to him, female founders are strongly encouraged to apply. Selection will be conducted through a clearly defined, merit-based evaluation process aligned with published criteria.
iDICE is a $618 million federal government initiative backed by international lenders to boost the technology and creative sectors.
It provides young entrepreneurs with business skills training, mentorship, and access to capital through funds and accelerator programs like the iDICE Startup Bridge.
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