News
We don’t have gas to run power plants, says NDPHC MD
Chiedu Ugbo, managing director of Niger Delta Power Holding Company (NDPHC), says there is no gas to run the power plants across the country.
Last week, the lawmakers asked the federal government to suspend the planned sale of the NDPHC assets.
The lower legislative chamber also mandated its committees on power and privatisation and commercialisation to investigate the matter.
Speaking at the public hearing on Wednesday, Ugbo said efforts to procure gas to run the plants have yielded little result.
“We have been to many places to look for gas, even in Geregu, we don’t have a single molecule of gas. Papalanto, the same thing. There’s no gas anywhere to run these plants which is a huge constraint”, he said.
“The NDPHC has 10 power plants with the generation capacity of over 5000 megawatts. In addition to power generation, the National Infrastructure Protection Plan (NIPP) also intervenes in transmission projects, of which we have 41 of them.
“We added 6460MVA and 2686 kilometres of high tension kV lines for the Transmission Company of Nigeria.
TCN is using these assets now but the legal transfer is yet to be done to get the TCN to pay for them.
“All states of the federation are beneficiaries of our distribution intervention. 374 distribution projects such as injection substations, over 4000 11kva lines which once finished will be transferred to the distribution companies for use following the legal transfer is completed.
“We have deployed 20,000 units of solar home systems to homes in communities that hitherto never knew what electricity looked like”.
Ugbo said the NDPHC board will meet Vice-President Yemi Osinbajo on July 29, to discuss the sale of assets.
However, the Coalition of Northern Group (CNG) kicked against the planned privatisation of the NDPHC.
Balarabe Rufai, who spoke on the groups behalf, said the move to sell the assets will cripple the economic fortune of the north.
“The CNG does not wish to remain silent or passive and allow things that affect the North and potentially cause greater economic instability in the country to continue unchecked,” he said.
“Having studied the situation carefully, we consider that the current privatisation move is part of the several schemes to cripple the North economically by shortchanging it in the NDPHC project in which it is a major stakeholder.
“We demand immediate and unconditional discontinuation of this or any subsequent move to privatize the said assets and immediate and complete reversal and observance of the initial agreement to revolve the power generation projects to the North.
Rufai said the coalition will challenge the planned sale of the assets in court, if the federal government does not “involve the region in the discourse to determine, in the context of the applicable policy, legal and regulatory framework”.
The committees ruled that the Central Bank of Nigeria (CBN), ministry of finance, Bureau of Public Enterprise among other agencies, appear before it to explain their involvement in the planned privatisation.
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News
Tinubu’s UNGA Absence Fuels Questions Over Planned Trump Meeting
An American lobbying firm linked to former Vice President Atiku Abubakar has claimed that a proposed meeting between President Bola Tinubu and US President Donald Trump on the sidelines of the United Nations General Assembly will no longer take place.
The claim by Von Batten Montague York-LC came shortly after the Nigerian Presidency confirmed that Tinubu would not physically attend the 81st UN General Assembly in New York.
Instead, Vice President Kashim Shettima has been directed to lead Nigeria’s delegation to the gathering.
In a post on X, the US-based firm said the proposed Tinubu-Trump meeting had been cancelled. It also claimed that any possible US endorsement of Tinubu ahead of Nigeria’s 2027 presidential election was no longer on the table.
The firm alleged that securing a meeting with Trump and obtaining his endorsement was a major objective of Tinubu’s planned UNGA trip. It further claimed that about $9 million in Nigerian public funds had been spent on efforts to facilitate the proposed engagement.
Those allegations have not been independently established.
Tinubu to Miss UNGA
The development follows the Presidency’s confirmation that Tinubu will not attend the annual gathering in person.
The President had previously been listed as a speaker for the high-level General Debate, but the government subsequently announced that Shettima would represent him.
The change ends weeks of uncertainty over whether Tinubu would travel to New York. Nigeria’s UN ambassador had earlier indicated that arrangements had been made for the President to attend the 81st session.
Meanwhile, reports of a possible Tinubu-Trump meeting had attracted attention because of the two countries’ diplomatic and economic engagements.
The latest statement by the lobbying firm is therefore another development in the ongoing debate over whether such a meeting would take place. However, the firm’s claims about the proposed meeting, the alleged $9 million expenditure and Tinubu’s supposed objective remain allegations rather than independently verified facts.
Tinubu’s UNGA Absence Fuels Questions Over Planned Trump Meeting
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News
EFCC Recovers N140m for B4 Sail as Alleged Loan Debt Hits N2.25bn
EFCC Recovers N140m for B4 Sail as Alleged Loan Debt Hits N2.25bn
The Economic and Financial Crimes Commission (EFCC) has returned N140 million recovered during an investigation into an alleged loan fraud to B4 Sail Limited, an investment and money-lending company in Lagos.
The funds were handed over in bank drafts on Thursday, September 17, at the EFCC’s Lagos Zonal Directorate 2 office in Ikoyi.
The Acting Zonal Director, Bawa Usman Kaltungo, presented the recovered money to representatives of B4 Sail.
How the Investigation Began
The recovery followed a petition filed by B4 Sail on April 20, 2026, concerning Jacob Oyebola Esan and companies linked to him.
According to the petition, Esan approached the company in August 2025 on behalf of Geo Fields Plc to secure a N500 million loan to support the business.
The facility reportedly carried a monthly interest rate of 15 per cent and was expected to be repaid within one month.
The EFCC said its investigation later established that Esan had obtained other loan facilities from B4 Sail, taking his total exposure to N1.065 billion.
As security for the loans, shares belonging to Esan were pledged through Calyx Securities Limited, which acted as the clearing house for the stocks. The arrangement reportedly gave B4 Sail a lien over the shares and first claim to proceeds from their sale.
However, the commission said the shares were eventually sold without B4 Sail’s knowledge.
This allegedly contributed to Esan’s failure to repay the facilities. With accrued interest, the outstanding amount subsequently rose to N2.2505 billion.
The EFCC said the N140 million recovery was being returned to the company as part of its responsibility to ensure recovered funds reach legitimate owners and victims after due process.
EFCC Recovers N140m for B4 Sail as Alleged Loan Debt Hits N2.25bn
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News
Soludo Pardons Native Doctor Akwa Okuko After 2-Year Jail Sentence
Soludo Pardons Native Doctor Akwa Okuko After 2-Year Jail Sentence
Controversial Anambra native doctor Chidozie Nwangwu, widely known as Akwa Okuko Tiwara Aki, has received a pardon from Governor Chukwuma Soludo.
The governor made the announcement on Friday while visiting the Correctional Centre in Amawbia as part of an inspection of custodial facilities in the state.
Nwangwu’s release comes after the High Court in Awka sentenced him to two years in prison following his arrest by the state government.
Although the court imposed a two-year sentence, the time Nwangwu had already spent in custody was taken into account. Consequently, he was left with 11 months to complete his term.
Conditions Attached to the Court Sentence
The court had also ordered the demolition of Nwangwu’s shrine as part of the measures arising from the case.
In addition, it directed that once he completed his sentence, the native doctor should contribute to youth reorientation programmes. He was also expected to renounce Oke-ite and related charm practices and publicly speak against them.
Authorities had accused Nwangwu of involvement in fetish-related activities, including alleged preparation of charms reportedly intended for young people pursuing financial gains.
His arrest came amid the Anambra State Government’s campaign against practices it linked to criminality and fraudulent activities.
During Friday’s visit, Soludo said his pardon initiative was not solely about Nwangwu. He stressed that attention must also be given to the welfare and wellbeing of people held in correctional facilities.
The governor subsequently inspected the custodial facility at Waterside, Onitsha, as part of the exercise.
Soludo Pardons Native Doctor Akwa Okuko After 2-Year Jail Sentence
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