News
I reduced debt, left N14bn behind – Oyetola
Former Governor of Osun State, Adegboyega Oyetola, has said his administration is leaving behind a total sum of N14 billion cash in the state’s coffers.
Oyetola also said between 2018 and time of his exit, his administration had paid a sum of N97 billion from the debt inherited, adding that the administration did not take any bank loan during his tenure as governor.
In a farewell message by Oyetola as contained in a statement made available by his Chief Press Secretary, Ismail Omipidan, on Sunday, he further disclosed that his administration put Osun’s economy on a better footing through many people-centred and masses-focused projects implemented to make life worthwhile for the people of the state.
According to him, Osun under his watch has been stable economically as manifested in the astronomical increase in the Gross Domestic Product of the state since he assumed office.
He affirmed that Osun was more stable economically than he met it in 2018, saying despite all the visible socio-economic challenges confronting the state with its attendant effects, he was able to take care of the fears and evil of fiscal indiscipline and lack of implementation, which hampered projects and services in the nation’s public service.
READ ALSO:
- How Osun AG avoided gov Oyetola over payment of salaries till last day in office
- Lagos- Ibadan expressway will not become another Abuja-Kaduna Expressway – Gani Adams
- 2023: Peter Obi Will Fade Away Soon – Omokri
The statement quoting Oyetola further read in part, “As I step aside today( Sunday) following the conclusion of the four-year tenure you freely gave me, I thank God and I thank you for your support, cooperation and prayers over the years.
“I recall how the journey began four years ago; how by your belief in me and your conviction in the plans and programmes of our party, you exercised your right to vote for me. As we end our first term, rest assured that Osun is more stable economically than we met it in 2018 and it remained the most peaceful state in the country under our leadership.
“For four years, we did not take any bank loan facility. But we benefitted from the N3 billion monthly intervention from the Federal Government to all the states for six months to cushion the effect of deductions of budget support facility and salary bailout accessed by the previous administration, just as we have paid N97 billion from the total debt we inherited in 2018.
“We are leaving behind cash of over N14 billion. In addition to the N14 billion cash, another N8 billion is being expected between December and January from our performance in SFTAS and the Internally Generated Revenue. Also, another $72 million will come to the state soon from RAMP 3, NG-CARES, Nigeria for Women Project and Ease of Doing Business. These are earned based on performance. And we have indeed performed to earn them.
“It was part of the same performance that earned us the award of Best Governor on Efficiency of Public Expenditure and TOP Performer on Domestic Revenue Mobilisation by the World Bank’s States’ Fiscal Transparency, Accountability and Sustainability, SFTAS, recently. We have gone this length to let you know that Osun under our leadership was sustainable. It was done through fiscal discipline and personal sacrifices.” Punch
News
Yemi Osinbajo Appointed Senior Strategic Adviser to Africa CDC
Yemi Osinbajo Appointed Senior Strategic Adviser to Africa CDC
Former Nigerian Vice-President Yemi Osinbajo has been appointed as Senior Strategic Adviser to the Director-General of the Africa Centres for Disease Control and Prevention (Africa CDC), as the agency pushes forward the continent’s Africa Health Security and Sovereignty (AHSS) agenda.
The appointment, announced on Monday, comes at a critical time as Africa CDC seeks to enhance health systems, boost domestic financing, expand local production of medical supplies, and strengthen Africa’s influence in global health governance. In this role, Osinbajo will provide strategic guidance on pandemic preparedness, sustainable healthcare financing, policy direction, and continental collaboration.
Director-General Jean Kaseya praised Osinbajo’s wealth of experience, highlighting his expertise at the intersection of governance, finance, law, and diplomacy. “At a time when Africa must act with greater authority on the future of health, his leadership will be invaluable,” Kaseya said. He added that Osinbajo’s appointment reflects Africa CDC’s commitment to mobilising top African leadership in service of the continent’s health security and development.
READ ALSO:
- Veteran Nollywood Actor Davis Ofor ‘Clarus’ of New Masquerade Dies at 85
- Harry Maguire Signs New Manchester United Deal Until 2027
- Women in Plateau Block Burial of 28 Palm Sunday Attack Victims Over Arrests
Osinbajo served as Nigeria’s Vice-President from 2015 to 2023, during which he chaired the Economic Sustainability Committee, contributed to reforms enhancing the ease of doing business, and played a key role in implementing Nigeria’s social investment programmes. Earlier, he was Attorney-General and Commissioner for Justice in Lagos State from 1999 to 2007. His legal and governance background positions him to offer critical insights on health policy, regulatory frameworks, and strategic partnerships.
The AHSS agenda, which Osinbajo will help drive, seeks to strengthen Africa’s self-reliance in health, improve disease surveillance, and foster regional collaboration to respond more effectively to pandemics and other public health emergencies. Experts say his advisory role will be crucial in promoting local production of vaccines and medical equipment, ensuring Africa can meet its own health needs while influencing global health decisions.
Africa CDC, operating under the African Union, aims to support member states in building resilient health systems capable of confronting future outbreaks and public health crises. Osinbajo’s appointment is expected to further amplify Africa’s voice in global health while ensuring sustainable health development across the continent.
Yemi Osinbajo Appointed Senior Strategic Adviser to Africa CDC
News
Iran Lists Tough Conditions for Peace Talks with US
Iran Lists Tough Conditions for Peace Talks with US
By Agency Report
Iran has outlined a set of strict preconditions for engaging in negotiations with the United States aimed at achieving a lasting peace, signalling a hardening of its stance amid ongoing hostilities in the Middle East.
According to a senior Iranian official who spoke to Reuters, Tehran is insisting on an immediate halt to U.S. military strikes, alongside firm guarantees that such attacks will not be repeated, as a prerequisite for any talks.
The official also disclosed that Iran is demanding compensation for damages suffered during the conflict, underscoring the country’s position that any future negotiations must address the consequences of the ongoing war.
In a further indication of its firm posture, Iran has rejected proposals for a temporary ceasefire, maintaining that only a comprehensive and permanent peace agreement would be acceptable.
Tehran is also pushing for new arrangements regarding the strategic Strait of Hormuz, including the right to impose transit fees on vessels passing through the vital global oil shipping route. The proposed fees, according to the official, would vary depending on the type of vessel, its cargo, and prevailing conditions.
The development comes amid intensified diplomatic efforts led by regional mediators, including Pakistan, to broker a ceasefire between the two sides. A U.S.-backed proposal for a 45-day truce has reportedly been put forward as a stepping stone toward broader negotiations, though Tehran has dismissed the idea as insufficient.
Tensions between the two countries remain high, with both sides holding firm to their positions. Analysts say Iran’s demands reflect a broader strategy to secure long-term guarantees and reshape the terms of engagement in the region, rather than accept short-term de-escalation measures.
With neither side showing signs of compromise, prospects for immediate negotiations appear uncertain, raising concerns about further escalation and its implications for global security and energy markets.
Iran Lists Tough Conditions for Peace Talks with US
News
Tinubu Unveils ₦3.3tn Electricity Bailout to Revive Nigeria’s Power Sector
Tinubu Unveils ₦3.3tn Electricity Bailout to Revive Nigeria’s Power Sector
President Bola Ahmed Tinubu has approved a sweeping ₦3.3 trillion power sector bailout aimed at clearing long-standing debts and stabilising Nigeria’s struggling electricity industry.
The intervention, implemented under the Presidential Power Sector Financial Reforms Programme, is designed to resolve liabilities accumulated between February 2015 and March 2025, following a comprehensive verification process.
Presidential spokesman Bayo Onanuga disclosed that the ₦3.3 trillion electricity debt settlement represents a full and final agreement to restore financial stability across the sector. He explained that the debts, largely driven by unpaid invoices, tariff shortfalls, and subsidy obligations, had significantly weakened liquidity in the power value chain.
Implementation of the power sector debt repayment plan has already commenced, with 15 generation companies signing settlement agreements worth about ₦2.3 trillion. The Federal Government has raised ₦501 billion so far to fund the initiative, out of which ₦223 billion has already been disbursed, while additional payments are ongoing.
READ ALSO:
- Brymo Sparks Debate After Saying Men Who Apologise to Women Deserve Suffering
- Boko Haram/ISWAP Attack Borno Police Station, Kill Four Officers, Hunter
- NDLEA Arrests Lagos Pastor, Wife With 11kg Skunk Cannabis
The Nigeria electricity sector bailout is expected to inject much-needed cash into the industry, ensuring that gas suppliers receive payments, power plants can sustain operations, and electricity generation becomes more stable. With improved liquidity, officials say the country could begin to see gradual improvements in power supply, reduced grid disruptions, and better service delivery.
Special Adviser on Energy to the President, Olu Arowolo-Verheijen, said the programme is not just about clearing debts but rebuilding trust across the industry. She noted that restoring confidence is critical to attracting investment, maintaining consistent gas supply, and ensuring that power plants operate efficiently.
She further explained that the initiative forms part of broader power sector reforms in Nigeria, including nationwide metering improvements and the introduction of service-based tariffs that align electricity costs with the quality of supply. According to her, the government is also prioritising electricity supply to businesses, industries, and small enterprises, recognising that reliable power is essential for job creation and economic growth.
The Tinubu administration believes the electricity sector stabilisation plan will reduce reliance on generators, lower the cost of doing business, and improve productivity across key sectors of the economy. Analysts say resolving the sector’s liquidity crisis could unlock new investments and strengthen Nigeria’s overall economic performance.
President Tinubu also commended stakeholders for their cooperation in addressing long-standing challenges in the industry and confirmed that the next phase of the reform programme, Series II, will commence within the current quarter. The phase is expected to deepen structural reforms and ensure long-term sustainability of the electricity market.
Tinubu Unveils ₦3.3tn Electricity Bailout to Revive Nigeria’s Power Sector
-
metro2 days agoFG Deports US Missionary Alex Barbir Over Alleged Role in Nigeria Insecurity
-
Entertainment2 days agoVeteran Nollywood Actor Davis Ofor ‘Clarus’ of New Masquerade Dies at 85
-
metro1 day ago2026 NYSC Batch A Stream II: Registration, Swearing-In Dates Announced
-
Africa13 hours agoECOWAS Recruitment 2026: Over 30 Job Vacancies Open for Nigerians (How to Apply)
-
metro3 days agoLagos Announces Partial Road Closures for Project Commissioning
-
Entertainment1 day agoSaheed Osupa Defends Juju Use Amid Backlash From Islamic Clerics
-
Politics17 hours agoCourt Stops ADC Congress, Orders Status Quo in Leadership Row
-
News3 days agoIran Lists Tough Conditions for Peace Talks with US


