News
Buhari bids farewell to King Charles says this will be his last official engagement
Buhari bids farewell to King Charles says this will be his last official engagement
President Muhammadu Buhari bid farewell to His Majesty, King Charles III, on Friday, saying his current trip to the UK would be his last official engagement with the monarch.
The President stated this while addressing his colleagues at the Commonwealth Leaders Summit as part of the major events leading to the coronation of the monarch as King of the United Kingdom and Leader of the Commonwealth.
At the event with the theme: “The Commonwealth as a body and the role of the Youth”, Buhari thanked other world leaders, expressing joy at shared aspirations and values within the period he related with them.
“As I come before you today, I am also mindful that this would be my last official engagement with His Majesty The King and some of you as I leave office on 29 May 2023. I, therefore, feel both humble and grateful for this extraordinary and significantly important moment.”
“Over the years, I have worked cordially with the leaders of Commonwealth to achieve the values and principles of the Commonwealth which are shared by its members – the aspirations of the Commonwealth family which include positioning it to be a strong and respected voice in the world and improving the lives of all its citizens are being vigorously pursued,” he said.
READ ALSO:
- Nasal spray that treats Erectile Dysfunction in 5 minutes due in 2025
- Appeal court upholds Maina’s eight-year sentence over N2.1bn Fraud
- We set shanties, criminal hideouts on fire at Alaba market – Lagos police
He said the country learnt lessons in the conduct of the 2023 general elections which would make subsequent polls even better.
Buhari expressed satisfaction with the conduct of the 2023 general elections in Nigeria considering the turnout of voters and the generally peaceful atmosphere under which it took place.
According to the President, “these elections saw a remarkable turnout of voters and proof that Nigeria’s democracy is maturing. Despite some pockets of violence, we have demonstrated that a government can be elected peacefully and fairly.
“Lessons have been learnt and moving forward, we hope to perform even better. Based on this, I am delighted to note that we have taken another step towards deepening our democracy with peaceful, transparent and credible outcomes. Though we are aware that challenges still exist, we are committed to working towards a greater participation of all Nigerians in the democratic process, including those in the diaspora.”
While thanking the Commonwealth for sending a team to witness the conduct of the elections, he noted that the elections were generally free and fair, and the mood of the Nation after the announcement of the winners so far shows that democracy in Nigeria is maturing and can only get better.
President Buhari highlighted the key role Nigerian youths played during the elections as well as in support of national development, attributing a great part of this youth participation in the General Elections to the assent of ‘Not Too Young To Run’ Bill signed into law by his Administration in 2018.
He announced that Nigeria would also host the Commonwealth Youth and Students Summit for African Region, with the theme, ‘Making Change Happen’ in Abuja from May 9-11, this year.
Buhari bids farewell to King Charles says this will be his last official engagement
![]()
News
Tinubu Suspends Three Permanent Secretaries, Orders Arrest Over Fake Agency in SGF Office
Tinubu Suspends Three Permanent Secretaries, Orders Arrest Over Fake Agency in SGF Office
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) uncovered the “National Brands Development and Made-in-Nigeria Special Project Office,” which allegedly operated without presidential approval within the Office of the Secretary to the Government of the Federation. The President has ordered the immediate arrest of the agency’s promoter and the suspension of three top civil servants.
President Bola Tinubu has ordered the immediate suspension of three permanent secretaries and directed the arrest of the promoter of a newly uncovered fake government agency operating within the premises of the Office of the Secretary to the Government of the Federation (OSGF). The discovery was announced on Friday by the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr Musa Adamu Aliyu, SAN, during a briefing with State House correspondents at the Presidential Villa, Abuja.
The illegal entity, identified as the National Brands Development and Made-in-Nigeria Special Project Office, was found to have been allocated office space within the OSGF complex without presidential authorisation and in violation of existing regulations. The ICPC chairman explained that the discovery was made during the commission’s broader investigation into the earlier uncovered fake Presidential Foreign Intervention Promotion Council (PFIPC) and other procedural weaknesses in the public service.
READ ALSO:
- Troops Arrest Female Gunrunner, Recover AK-47 in Plateau
- Why Atiku’s subsidy gambit rattles Tinubu, By Farooq Kperogi
- Tinubu’s order: EFCC lifts freeze on Osun government accounts
According to Aliyu, the fake agency was promoted by Prince George Buchi Nwabueze, who was found to have allegedly operated under several variations of his name, including George Nathan, George Nathan Nwabueze, Honourable George Buchi Nwabueze, and George Nwabueze. The investigation also uncovered the alleged involvement of suspected collaborators within the OSGF who may have facilitated the agency’s operations.
Following the ICPC’s briefing, President Tinubu directed the immediate arrest of Nwabueze and the suspension of three permanent secretaries: M.S. Danjuma, Engineer Nadungu Gagare, and Richard P. Pheelangwah. The ICPC has engaged with officials of the OSGF to gather vital information regarding the unauthorised office, and the investigation remains active.
The latest discovery comes barely weeks after the exposure of the fictitious Presidential Foreign Intervention Promotion Council (PFIPC), whose self-styled Director-General, Adeniyi Adeyemi Matthew, is currently facing prosecution over allegations of forgery and impersonation. An interim ICPC report submitted to President Tinubu on August 6 had also identified two other fictitious bodies: the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency and Public-Private Partnership. With Friday’s announcement, the National Brands Development and Made-in-Nigeria Special Project Office becomes the fourth fake agency uncovered by the anti-corruption commission in connection with the scandal since early April.
The ICPC chairman commended President Tinubu for directing a forensic audit of government processes and a wider policy audit of federal ministries, departments, and agencies, describing the move as a proactive step towards strengthening governance and closing loopholes that could facilitate abuse within the public service. The investigation is expected to focus not only on the individuals behind the purported agency but also on the institutional weaknesses that allowed an unauthorised entity to gain access to federal government premises.
Tinubu Suspends Three Permanent Secretaries, Orders Arrest Over Fake Agency in SGF Office
![]()
News
N3.14 Trillion Spent on Electricity Subsidy in 31 Months – FG
N3.14 Trillion Spent on Electricity Subsidy in 31 Months – FG
The Federal Government says the massive spending shielded consumers from the full impact of tariff hikes, but critics question the value amid persistent blackouts and plans to phase out subsidies by 2027.
The President Bola Tinubu-led Federal Government has disclosed that it spent N3.14 trillion on electricity subsidies between June 2023 and December 2025, according to figures contained in its latest economic reform scorecard. The government said the intervention was designed to protect electricity consumers from the full effect of tariff increases as reforms in the power sector continued.
The electricity subsidy was among N30.64 trillion in additional spending pressures incurred by the Federal Government during the 31-month period. The figures were released by the Ministry of Finance following a presentation by Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy.
According to the ministry, electricity subsidy payments rose sharply from N177 billion in 2023 to N1.48 trillion in 2024, representing an increase of more than 740 per cent. By December 2025, the subsidy bill stood at N1.47 trillion, indicating a marginal 1.14 per cent decline compared with the previous year.
Other major spending pressures recorded during the period included N9.39 trillion for wage adjustments and minimum-wage increases, N9.37 trillion arising from the impact of exchange-rate movements on external debt servicing, and N6.47 trillion for strategic infrastructure projects.
READ ALSO:
- 100 Days in Captivity: Borno Families Beg Tinubu, Zulum to Rescue 78 Abducted Students
- Hamzat warns workers against spending over 40% of income on rent
- Newlywed Woman Remanded for Allegedly Stabbing Husband to Death Over Party Dispute in Kano
The government said it mobilised N20.4 trillion in additional resources to partly finance the increased expenditure. The funds comprised N5.43 trillion from the Federal Government’s share of estimated petrol subsidy savings, N3.12 trillion in additional revenues, and N11.85 trillion raised through incremental borrowing. Despite these resources, the government said there was still a funding shortfall of N10.24 trillion, which had to be accommodated within the existing revenue base.
Despite the substantial subsidy spending, electricity supply deteriorated during the same period. According to the Nigerian Electricity Regulatory Commission (NERC), the Federal Government incurred an electricity tariff subsidy of N358.32 billion in the first quarter of 2026 alone. The subsidy bill averaged more than N119 billion per month as the government maintained its freeze on end-user electricity tariffs at July 2024 rates.
NERC explained that because electricity tariffs remain below cost-reflective levels, the government continues to subsidise the difference between the actual cost of power generation and the approved tariffs charged to consumers. Under the current Distribution Companies’ Remittance Obligation (DRO) framework, electricity generation companies invoiced the 11 DisCos a total of N689.72 billion during the quarter. However, only N331.40 billion was billed to the DisCos, leaving the government to cover the remaining N358.32 billion. The subsidy accounted for 51.95 per cent of the total generation invoice during the period.
The commission clarified that the lower subsidy payment in Q1 2026 did not result from the introduction of cost-reflective tariffs but rather from a decline in electricity purchased by the distribution companies during the quarter. According to the report, average available generation capacity fell by 17.45 per cent, dropping from 5,400.38MW in the fourth quarter of 2025 to 4,457.96MW in the first quarter of 2026. Total electricity generation also declined by 9.64 per cent to 8,883.47GWh.
The subsidy disclosure has drawn criticism from organised private sector groups. The Lagos Chamber of Commerce and Industry (LCCI) questioned the impact of the N15.8 trillion in petrol subsidy savings and criticised the N3.14 trillion electricity subsidy, saying it appeared to contradict the logic behind electricity tariff reforms and highlighted the high power costs that continue to burden businesses.
NERC has warned that the current subsidy regime leaves the Federal Government exposed to uncertain and potentially rising financial obligations. “The open-ended nature of the subsidy exposes the FGN to indeterminate subsidy obligations due to volumetric risk and changes in generation costs arising from changes in the generation mix, particularly with an increase in thermal generation,” the commission stated.
The disclosure comes against the backdrop of the Federal Government’s plan to gradually withdraw electricity subsidies from 2027. In July, Joseph Tegbe, Minister of Power, said the government had no immediate plan to increase electricity tariffs, explaining that subsidy payments would be gradually phased out from next year while ensuring that Nigerians continued to benefit from existing arrangements. “I promise you, next year, by God’s grace, we will put a stop to this so-called subsidy in the power sector,” Tegbe said.
The government has also proposed establishing a Power Consumer Assistance Fund (PCAF) , established under the Electricity Act 2023, as the preferred mechanism for delivering targeted subsidies directly to vulnerable electricity users. The initiative is designed to channel financial support through consumers’ electricity accounts or other verified identity-linked platforms, improving transparency in subsidy administration while boosting investor confidence in the sector.
However, analysts note that ending the subsidy without imposing another sharp tariff increase will require widespread metering, lower transmission and distribution losses, improved collections, reliable supply, and targeted protection for poorer households. The government is also working to clear debts owed to power generation companies, with GenCos reportedly owed about N6.5 trillion and receiving only about 35 per cent of their monthly invoices.
In April 2024, NERC raised electricity tariffs for Band A customers from N66 to N225 per kilowatt-hour. The affected consumers were expected to receive at least 20 hours of electricity daily, while the adjustment was projected to reduce the government’s subsidy burden by about N1.14 trillion in 2024. Despite this adjustment, the subsidy bill for 2024 and 2025 combined still reached nearly N3 trillion.
N3.14 Trillion Spent on Electricity Subsidy in 31 Months – FG
![]()
News
100 Days in Captivity: Borno Families Beg Tinubu, Zulum to Rescue 78 Abducted Students
-
metro2 days agoPalace Chaos: Police Say Cultists Targeted Davido, Not Gov Adeleke, in Deadly Osogbo Shooting
-
metro2 days agoPFIPC Scandal: Tinubu Orders Forensic Probe as ICPC Uncovers Multiple Fake Agencies
-
News2 days agoTinubu orders transfer of EFCC cash recoveries, N242bn unclaimed dividends to NELFUND
-
Politics2 days agoAtiku Dismisses Obasanjo’s Political Clout, Says Ex-President Has ‘No Electoral Value’
-
metro1 day agoHistory in Makkah: Nigerian Teen Wins Prestigious Qur’anic Contest, Breaks 46-Year Gender Barrier
-
metro2 days agoFormer MFM Pastor Femi Jimoh Dies After Years of Detention, Legal Dispute
-
News1 day agoDelta Governor Reveals ₦503,000 Monthly Salary, Says Permanent Secretaries Earn ₦900,000
-
Africa2 days agoM23 Rebels Impose Ebola Movement Restrictions as DRC Conflict Complicates Outbreak Response
