General News
Probe of N3Trn Security Vote Tears National Conference Apart
National Conference was on the edge of an uproar yesterday as delegates who reconvened sharply disagreed over the propriety of a probe into the more than N3 trillion expended on security in the period between 2010 and 2013.
Orok Duke from Cross River State stirred the uproar with a motion asking the Conference to demand urgent remedy of what he called the precarious security situation in the country and a call for the release of the 276 school girls abducted by the Islamist extremist group, Boko Haram.
The motion also implored the Conference to pass a resolution in support of the voluntary involvement of certain multi-national military forces in the operation to rescue the school girls.
The mild drama started when Mr. Femi Falana, SAN, delegate representing the Civil Society Organisations while contributing to a debate on the rescue of the abducted Chibok students, alleged that the government from 2010 to 2014, voted N3 trillion on security and expressed concern that nothing much has come out of it in the face of continued security challenges and ill- equipped nature of the country’s soldiers.
Citing Section 217 of the 1999 Constitution which vests the power of defending the territorial integrity of the nation in the Nigerian military, Falana urged the Conference to mandate President Goodluck Jonathan to set up a panel to investigate how the said N3 trillion was spent on security.
He was immediately opposed by Iyom Josephine Anenih, who insisted that the outpouring of emotions by men and women across the world was such that Nigerians should be grateful and publicly express such gratefulness.
Meanwhile, the Conference Chairman, Justice Idris Kutigi who stressed that there was need to know the exact figure of the missing girls, said: “If two weeks ago, we were told that only eight people had been rescued and now we are told that over 200 are still to be saved, I think it is only fair that we only know the new figure and that we should encourage those in the position to do so and continue with their efforts to rescue the girls.”
Also opposing Falana, a delegate on the platform of former Speakers, Chief Anayo Nnebe said: “Safety and order in Nigeria lies in the military of the country, it does not remove the fact that our military has not been able in the past months to contain the insurgency in this country. Therefore, there is serious and urgent need for us to commend the other countries of the world that have identified with us at this time of pressure and need.”
Speaking, Chief Mike Ahamba, SAN, who noted that what was presently in Nigeria was guerilla warfare, stressed the need for Nigerians to commend the troops and the international community rather than play politics with the issue.
“There is an attitude we must change and that attitude is our penchant for discouraging people who are working for this country at all levels. We have many soldiers fighting in this matter and all we do at this stage is to behave as if they are not doing anything.
It is true that they can do better and they are not getting the equipment with which they can do better but let us encourage them, let us acknowledge that a lot of them have paid the supreme sacrifice in fighting this thing. We must not come here and behave as if nothing is being done,” he said.
In his contribution, another delegate representing Association of former Speakers, Hon. Ignatius Edet, noted that the Conference had no such powers t
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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