General News
Tinubu Approves N3.3 Trillion Payment Plan to Boost Power Supply

President Bola Tinubu has approved a N3.3 trillion payment plan aimed at settling long-standing debts in Nigeria’s power sector, in a move expected to improve electricity supply and restore investor confidence.

The development was disclosed in a statement issued on Sunday by Bayo Onanuga, special adviser to the President on Information and Strategy.
According to the statement, the approval followed a final review of legacy debts accumulated under the Presidential Power Sector Financial Reforms Programme over 10 years, spanning February 2015 to March 2025.
“Following verification, ₦3.3 trillion has been agreed as a full and final settlement, ensuring a fair and transparent resolution,” the statement partly read.
The government noted that implementation of the repayment plan has already commenced, with 15 power generation companies signing settlement agreements valued at ₦2.3 trillion.
It added that the Federal Government had so far raised ₦501 billion to fund the initiative, out of which ₦223 billion had already been disbursed, while further payments are ongoing.
Explaining the significance of the programme, Olu Arowolo-Verheijen, special adviser on Energy to the President, said the initiative goes beyond debt clearance.
“This programme is not just about settling legacy debts. It is about restoring confidence across the power sector, ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably,” she said.
She added that the plan formed part of the sector reforms, including improved metering and the introduction of service-based tariffs.
“It is part of a broader set of reforms already underway, including better metering and service-based tariffs that link what you pay to the quality of electricity you receive.
“The government is also prioritising power supply to businesses, industries, and small enterprises because reliable electricity is critical to creating jobs, supporting livelihoods, and growing the economy.
“The goal is simple: more reliable power for homes, stronger support for businesses, and a system that works better for all Nigerians,” she added.
The presidency stated that the settlement of the debts was expected to enhance liquidity across the power value chain, leading to more stable electricity generation and improved service delivery.
President Tinubu also commended stakeholders for their roles in resolving the long-standing issues and confirmed that the next phase of the programme, known as Series II, will commence within the current quarter.
Nigeria’s fragile power supply has been marked by frequent grid collapses, low generation levels, and persistent outages affecting homes and businesses.
A 2024 report by Africa Trade Barometer disclosed that Nigeria loses an estimated $26 billion yearly to power failures.
It said businesses spend about $22 billion annually on off-grid fuel to offset the impact of power shortages. This further pushes operational costs.
“Economic losses arising from Nigeria’s electricity shortages are estimated to be USD 26 billion annually, without accounting for spending on fuel for off-grid generators, which is estimated to be a further USD 22 billion,” the report by Standard Bank said.
“In Nigeria, surveyed businesses must contend with a national grid that frequently collapses as it fails to meet a daily peak demand which is nearly four times its generation capacity,” it added.
General News
Nnaji, Former Minister Seeks Out-of-court Settlement over Certificate Forgery Allegations


Uche Nnaji
Uche Nnaji, former minister of Science, Innovation and Technology, has indicated interest to settle out of court with the University of Nigeria, Nsukka, and other parties in a certificate forgery dispute.
This was disclosed on Monday during proceedings before Justice Hauwa Yilwa of the Federal High Court Abuja, where the suit came up for hearing of pending applications.
Nnaji had approached the court in October 2025, following an investigation by Premium Times, alleging that the minister had forged his first degree and National Youth Service Corps certificates.
The report further faulted the minister for submitting the forged documents to President Bola Tinubu and the Senate during his ministerial screening.
Nnaji had subsequently resigned his position as minister following widespread controversy, stating that he did not want the issue to become a distraction from the activities of the administration.
The case has, however, stalled at the courts since it was instituted, due to procedural setbacks including issues relating to the service of court processes and multiple preliminary objections filed by the defendants.
When the matter was called on Monday, Ope Muritala, counsel to Nnaji, informed the court that although the case was slated for a hearing of pending applications, there was a fresh development, adding that parties were exploring an amicable resolution, requesting an adjournment to enable negotiations to continue.
“There is a new development as parties are exploring an out-of-court settlement,” he told the court.
P.C. Ike and N.H. Obah, lawyers representing the first (Minister of Education) and second (National Universities Commission) defendants, told the court they were not previously aware of the settlement discussions until they arrived at the court, but did not oppose the request for an adjournment to allow the talks to proceed.
Meanwhile, counsel to the third to seventh defendants, including the UNN and its principal officers, Chidubem Ugwueze, however, confirmed that the move towards settlement had been communicated earlier.
He told the court that a Senior Advocate of Nigeria, Chris Uche, who is leading the defence team, had informed him of the development.
According to him, the information originated from another Senior Advocate, Wole Olanipekun, representing Nnaji.
Although he did not object to the proposed settlement, Ugwueze urged the court to proceed with hearing the defendants’ pending motion for regularisation in the event that settlement talks collapse.
However, Justice Yilwa declined the request, stating that it would be more appropriate to consider such applications only if the out-of-court resolution efforts fail.
In view of the parties’ disposition, the court adjourned the matter to July 8, 2026, for report of settlement or continuation of proceedings.
General News
Nomination Opens for Consumers Value Awards

In a bold step to deepen consumer voice and accountability across both private and public sectors, BrandXchange the organisers of the Consumers Value Awards have announced the official launch of the 5th edition with a groundbreaking theme: “Beyond Satisfaction: Redefining Consumer Value in a New Economy.”

Scheduled to hold on 23rd September 2026, this year’s edition introduces a Consumer & Citizen Value Scorecard, a nationwide voting platform that places the power of evaluation directly in the hands of consumers. Nigerians can nominate their brands through this link: https://consumervalue.vercel.app/nominate
Speaking on the theme, the Convener, Akonte Ekine, noted that the concept of consumer satisfaction is no longer sufficient in today’s economic climate.
“For too long, satisfaction has been the benchmark. But in reality, many consumers who are ‘satisfied’ still feel overcharged, underserved, or unheard. This year, we are going beyond satisfaction to focus on what truly matters—real value. Value in pricing, value in service, and value in trust,” he said.
He further explained that the introduction of the Consumer & Citizen Value Scorecard marks a significant evolution of the Awards into a data-driven, people-powered evaluation system.
“Through this Scorecard, Consumers will not just vote—they will assess. They will tell us which brands deliver fair value and which public institutions are truly serving the people. This is about giving consumers and citizens a structured voice that drives recognition and accountability,” Ekine added.
Unlike traditional award systems driven by panels or jury decisions, the Consumers Value Awards remain strictly based on consumer voting, ensuring that winners emerge from real-life experiences and public perception.
The 2026 edition expands its scope to include public sector institutions, reinforcing the idea that citizens are not only customers of brands but also consumers of government services.
“From banking halls to public hospitals, from telecom services to regulatory agencies, Nigerians interact with systems every day. This initiative ensures that both brands and institutions are held to the same standard—delivering value in a challenging economy,” he stated.
The voting process will measure key indicators such as:
- Value for money
- Trust and transparency
- Service delivery quality
- Responsiveness to consumer needs
- Accessibility and inclusiveness
Insights from the voting process will culminate in a Consumer & Citizen Value Index, offering one of the most comprehensive snapshots of consumer sentiment.
The organisers believe the initiative will not only celebrate excellence but also drive improved performance, strengthen consumer trust, and encourage responsible service delivery across sectors.
Voting is expected to commence in June 2026, with nominations open to the general public via www.consumersvalueawards.com.
General News
IHS Nigeria, Ilorin Innovation Hub Showcase 19 High Growth Startups

IHS Nigeria, part of the IHS Holding Limited (NYSE: IHS) (“IHS Towers”) group, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, has partnered with the Ilorin Innovation Hub to host the maiden edition of its Demo Day at the state-of-the-art facility in Ilorin, Kwara State.

The event, themed “The Convergence,” is designed to spotlight 19 emerging startups that have participated in the Hub’s accelerator and incubation programs, and invite them to pitch their solutions to investors, venture capital funds, corporate partners, and the media.
The Ilorin Innovation Hub, a partnership between the Kwara State Government and IHS Nigeria, began operations in February 2025 with programs managed by Co-creation Hub and Future Africa.
The Demo Day presents an opportunity to take stock and assess how the Ilorin Innovation Hub is helping to nurture and bring to life groundbreaking ideas and solutions supporting economic resilience and addressing real-world societal challenges. The event is expected to help unlock funding opportunities, foster strategic collaborations, and amplify visibility for these startups that are developing solutions across critical sectors including agriculture, health-tech, green energy, lifestyle, and digital services.
Beyond the startup showcase, the Demo Day highlights Kwara State’s continued commitment to driving digital innovation and entrepreneurship, and IHS Nigeria’s commitment to bridging the digital divide and deepening the digital economy in Nigeria.
Mohamad Darwish, CEO, IHS Nigeria, commented, “We believe innovation and digital technology are powerful drivers of economic growth and sustainable development. This is why we partnered with the Kwara State Government on the Ilorin Innovation Hub. It is impressive and very fulfilling to see the diverse portfolio of ideas and solutions showcased today from the hub within a year of the commencement of operations.
This speaks to the depth of creativity among Nigerians and what is possible when they are equipped and supported. Today’s event makes me proud of our investment in the space and underscores IHS Nigeria’s continued commitment to supporting technology, entrepreneurship, and digital innovation in Nigeria.”
Temi Kolawole, Managing Director, Ilorin Innovation Hub, commented, “Today, we showcase 19 startups that have shown that when you combine talent with the right support, the results speak for themselves. The Ilorin Innovation Hub exists to ensure that geography is never a barrier to building something extraordinary, and this Demo Day is proof that we are on the right track.”
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