News
Govt may sell TBS, NIPPs, 25 key property to fund 2023 budget
The government is also planning to sell or concession all the hydro power plants across the country, including Oyan, Lower Usuma, Katsina-Ala and Giri plants.
More than 25 of such projects will be turned into active assets that will be generating money in some ways to the Federal Government.
Some of them will be offered to investors for equity while others will be totally sold to reduce waste.
The government is also eyeing revenue from Calabar and Kano free zones as well as Abuja Water Board, Aluminium Smelter Company of Nigeria, National Film Corporation, National Theatre and Lagos International Trade Fair.
The government is also planning to relinquish the ownership of some of the basin authorities and hand them over to the private sector to manage.
However, sources said they could either be sold or concesioned – depending on the preference of the core investors.
Some of the government ministries such as the postal service will be concesioned or entirely sold to the private sector to enable them to compete effectively with other privately- managed logistics firms.
It was also gathered that the Federal Government was seeking ways of enhancing the value of the Nigerian National Petroleum Corporation by listing it in the stock market to raise capital as was done the case with Saudi Aramco.
Saudi’s state-owned oil company went out to raise $25.6bn from an IPO in 2019, surpassing Alibaba’s $25bn valuation five years earlier.
The now commercial enterprise is valued between N30tn and N50tn, and the government is planning to make it a veritable source of revenue and returns for the government and the shareholders next year.
“This government may not benefit from the sale of these assets. It is a little bit late but the plan is to ensure we make all those dead assets alive. Let us cut wastes at least,” one of our sources said.
Sources further confirmed that the Federal Government will extend its tentacles to hotels and landed properties, especially those that could be described as dead capital, to raise money.
A reliable source said the government was also keen to stop payment of salaries in those government-owned assets to cut wastes and support the economy.
Plans alive
The Federal Government has mulled the sale of assets since 2016 but several issues such as vested interests, legal issues, political interference, protests and an inability to ascertain its proper value have halted the ambition.
Former Finance Minister, Kemi Adeosun, had confirmed that the Muhammadu Buhari’s regime readiness to sell the national assets to raise funds.
The former minister had said in 2016, “I think there are a number of assets that are being considered and I don’t think we’ve said this one or that one.
“There are some unused assets that are just lying idle which people have come and suggested that ‘this thing you are not using, can we lease it from you for money?’
“Hence, when they lease it from us, the taxes are still going to come to us. So, there are some things the government is sitting on, we don’t have money to do it, it makes sense for me to unlock those things. So, it brings money into the economy at these difficult times, so that we can move forward.”
According to a statement issued on Saturday by the Acting Director of Army Public Relations, Colonel Appolonia Anele, the reshuffle is part of efforts to strengthen national security and improve operational effectiveness across the country.
The statement added that the postings affected field commanders, school commandants and principal staff officers at the Army Headquarters.
It noted that the Chief of Army Staff, Lieutenant General Waidi Shaibu, approved the strategic redeployment of senior officers, saying the move was aimed at enhancing the Army’s capacity to address emerging security challenges.
Under the new appointments, Major General WM Dangana has been named the General Officer Commanding (GOC) 3 Division Nigerian Army and Commander of Joint Task Force Operation ENDURING PEACE, replacing Major General EF Oyinlola.
Similarly, Major General EI Okoro has been appointed GOC 6 Division Nigerian Army and Land Component Commander of Joint Task Force South-South Operation DELTA SAFE, succeeding Major General EE Emeka.
The statement also announced the appointment of Major General JR Lar as Commander, Army Headquarters Garrison, while Brigadier General OM Oyekola will serve as Acting Military Secretary (Army). Brigadier General I Waziri retains his position as Chief of Staff in the Office of the Chief of Army Staff.
As part of efforts to strengthen operational leadership and combat readiness, Brigadier General IB Buhari was appointed Commander of Headquarters 63 Brigade, while Brigadier General K Rabiu was named Commander of Headquarters 31 Artillery Brigade.
In a move reflecting the Army’s growing emphasis on technology and emerging security threats, Major General SA Emmanuel was appointed Commander of the Nigerian Army Space Command.
Major General O Adegbe was also appointed Director of Intelligence and Security at Defence Headquarters.
In the area of military education and institutional development, Major General KE Chigbu was appointed Deputy Commandant of the National Defence College, while Major General SD Makolo became Commandant of the Nigerian Army Armour School.
Other appointments include Major General SO Adejimi as Commandant of the Nigerian Army School of Supply and Transport and Major General FS Etim as Chief of Training at the Headquarters Training and Doctrine Command, Nigerian Army (TRADOC).
Brigadier General U Ahmad has also been appointed Commandant of Depot Nigerian Army, Zaria.
The reshuffle further saw Major General KO Ukandu appointed Managing Director and Chief Executive Officer of Post Housing Development Limited, while Major General AI Allison was named Managing Director of Defence Properties Limited.
The statement added, “The COAS charged the newly appointed senior officers to justify the confidence reposed in them by demonstrating exemplary leadership, professionalism, innovation and unwavering commitment to the Nigerian Army’s constitutional mandate of defending Nigeria’s sovereignty, protecting its territorial integrity and supporting civil authority in maintaining peace and security across the nation.
“The Nigerian Army remains resolute in its transformation drive and commitment to building a highly professional, combat-ready and people-oriented force capable of effectively addressing contemporary and future security challenges in pursuit of Nigeria’s national security objectives.”
The First Lady, Senator Oluremi Tinubu, has come under criticism on social media after encouraging Nigerians to consider small-scale businesses such as selling akara, roasted corn and kuli-kuli, saying they require little capital to start.
Tinubu spoke while addressing State House Correspondents after the Renewed Hope Initiative’s second-quarter meeting with wives of state governors, held at the State House, Abuja, on Wednesday.
She stated this while highlighting the efforts of the Renewed Hope Initiative to support vulnerable Nigerians through grants and other interventions.
According to her, beneficiaries of the initiative were given grants, not loans, to enable them to start businesses.
“We’re trying to give hope, and to start Akara business doesn’t take a lot of money. To start roasting corn, or somebody even said kuli kuli doesn’t take much. We didn’t give them a loan; we gave it to them as a grant.
“So we’ve encouraged Nigerians as best as we could. What is within our hands, I have given, and I keep giving,” she said.
The First Lady said the initiative had also supported interventions in healthcare, agriculture, education and social investment.
She said she donated N2bn to tackle tuberculosis, N1bn for breast cancer interventions and N500m to address malnutrition.
“I remember giving for TB. When I heard there were so many TB cases, I gave N2 billion. To breast cancer, I gave a billion. For food malnutrition, I gave half a billion.
“So those are the things we’ve been doing and making sure we can make sure that whatever this government is trying to do, it will see the light of day,” she stated.
Tinubu added that the initiative had also provided scholarships, ICT training and support for agriculture and social investment programmes.
She urged Nigerians not to lose hope despite the country’s economic challenges.
“The narrative has really changed, has changed to challenge the average man, whereas the average man is supposed to have hope. So I like the idea that Mr President say this is the Renewed Hope Agenda.
“We have to renew our hope, and that’s how we renew our hope, you know, and that’s what I have to tell Nigerians,” she said.
The remarks, however, triggered swift backlash on social media, with many Nigerians accusing the First Lady of trivialising the economic hardship facing ordinary citizens.
A user on X, @ADCVanguard_, said the video showed “exactly how disconnected Nigeria’s ruling class has become from the reality of ordinary citizens.”
Another user, @ireteeh, contrasted the initiative with private-sector efforts, saying, “The First Lady is empowering people with akara, corn, and kuli-kuli, while an ordinary citizen with limited resources is equipping people to build thriving careers in cybersecurity.”
A user identified as Nefertiti (@firstladyship) said, “Nigerians are in big trouble. There is fire on the mountain but the people are tired of running.”
See also Fire guts Anambra timber market
However, some social media users, especially on X, defended the First Lady, insisting there was nothing wrong with encouraging Nigerians towards such businesses.
A user, @Akikanju1568901, said akara is “one of the most lucrative businesses in Nigeria,” with a low startup cost and high profit margin, adding that “akara sellers sent many kids… to universities, built houses, bought cars.”
Another user, @PemiOladapo, said, “There’s dignity in labour… these are our local snacks! People should start it and scale it!”
A user, @TossynBankz_, however, argued that the criticism was not about the businesses themselves but about timing.
“Nobody is mocking akara, roasted corn, or kuli-kuli. Those are honest businesses. The problem is that Nigerians are asking for a better economy, more jobs, and lower prices. Telling people to start selling akara in this situation just feels like the government doesn’t understand what people are going through,” the user wrote.
By Okey Maduforo, Awka
Scores of buildings obstructing natural waterways in Onitsha and Ogidi are facing demolition as the Anambra State Government steps up efforts to permanently tackle flooding and erosion in the affected communities.
The affected areas are located in Onitsha North, Onitsha South and Idemili North Local Government Areas, where authorities say illegal developments have worsened recurring flood disasters.
The state government also warned land grabbers and property speculators to desist from activities that contribute to environmental degradation and undermine approved urban development plans.
The warning came during a joint inspection of flood- and erosion-prone communities in Ogidi and Onitsha by the Commissioners for Works and Infrastructure, Physical Planning and Urban Development, and Environment.
The inspection team visited several vulnerable locations, including Ogidi Market, Building Materials Market, Opi Stream, the Marine Area and Trans-Nkisi Layout, to assess the extent of damage and identify areas requiring urgent intervention.
Speaking during the inspection, the Commissioner for Works and Infrastructure, Arc. Okey Ezeobi, said Phases Two and Three of the Ogidi Flood Control Project had been completed, while the design for Phase One was ready. He assured residents that the government was committed to providing a lasting solution to the perennial flooding in the area.
Ezeobi blamed much of the erosion damage on land grabbing, unregulated developments and alterations to approved master plans. He urged property owners to preserve designated drainage corridors and support ongoing government remediation efforts.
Also speaking, the Commissioner for Physical Planning and Urban Development, Barr. Chijioke Ojukwu, disclosed that investigations revealed that some traders at the Building Materials Market in Ogidi had erected plazas and shops on designated drainage channels, obstructing the natural flow of stormwater and worsening flooding.
He warned that all structures encroaching on waterways would be removed to enable the government reclaim and restore critical drainage networks in line with Governor Chukwuma Soludo’s vision of building clean, orderly and sustainable communities.
Ojukwu also expressed concern over the growing threat of gully erosion in Trans-Nkisi GRA, Onitsha, describing environmental degradation as a major challenge requiring urgent intervention and strict compliance with planning regulations.
The Commissioner for Environment, Barr. Clem Aguiyi, identified illegal construction, indiscriminate waste disposal and the destruction of vegetation that naturally controls erosion as major factors worsening flooding and erosion across the state.
He called on residents to take collective responsibility by planting erosion-control trees, protecting drainage infrastructure and supporting government initiatives aimed at achieving sustainable environmental management.
The International Human Right Protection Service (IHRPS), Anambra State Chapter, has raised concern over the plight of Nigerians allegedly stranded in South Africa amid renewed xenophobic attacks, urging the Federal Government to urgently evacuate affected citizens and provide each returnee with a N5 million resettlement package.
The group claimed that since the first evacuation flight, no further arrangements have been made to bring more Nigerians home, leaving many stranded despite continued attacks and growing fears for their safety.
It also appealed to President Bola Tinubu and the Minister of State for Foreign Affairs, Ambassador Bianca Ojukwu, to intensify efforts to protect Nigerian citizens in South Africa and facilitate their safe return.
The organisation, in a statement signed by its Anambra State Chairman, Hon. Dr. Amb. Prince Ekwunife, and Director of Special Duties, Mr. Ikenna-Daniel Okonkwo, said many Nigerians had lost their livelihoods, sold their properties, and were living in fear following recurring xenophobic attacks. It urged the Federal Government to provide a N5 million starter package for each returnee to help them rebuild their lives.
Recent criticisms of the Niger Delta Development Commission (NDDC) over the oil spill in Bille Kingdom have generated considerable public debate. While concerns about environmental degradation and the welfare of affected communities are valid and deserve attention, it is important that public discourse on the matter is guided by facts, a clear understanding of institutional responsibilities, and the realities of environmental remediation in the Niger Delta.
Bille Kingdom, like many communities in the Niger Delta, has faced the devastating consequences of oil spills over the years. These incidents have impacted livelihoods, fishing activities, farmlands, and the overall ecosystem upon which residents depend. Understandably, community members and stakeholders expect swift interventions from government agencies and development institutions.
However, attributing sole responsibility for responding to oil spills to the NDDC overlooks the specific mandates assigned to various agencies within Nigeria’s environmental and petroleum sectors.
The NDDC was established primarily as an interventionist agency tasked with facilitating sustainable development in the Niger Delta through infrastructure projects, social programmes, economic empowerment initiatives, and regional development planning. While environmental sustainability forms part of its developmental agenda, the direct containment, investigation, and cleanup of oil spills are responsibilities that largely fall under regulatory agencies and oil operators, in accordance with existing laws and environmental regulations.
This distinction is crucial. Oil spill response typically involves technical assessments, environmental impact studies, joint investigation visits, remediation procedures, and regulatory approvals. These processes are often coordinated by specialised environmental agencies in collaboration with oil companies operating in the affected areas. The NDDC’s involvement is generally complementary, focusing on long-term development interventions, community support programmes, and, where applicable, environmental restoration initiatives.
Furthermore, it is important to recognise that the NDDC has invested significant resources over the years in projects aimed at improving the quality of life in the Niger Delta communities. Across the region, the Commission has undertaken road construction, educational support programmes, healthcare initiatives, skills acquisition schemes, and various environmental projects designed to address the developmental deficits that have historically plagued oil-producing communities.
Critics are right to demand accountability and effective action whenever environmental disasters occur. Public institutions must remain responsive to citizens’ concerns, and affected communities deserve transparency in efforts to address ecological damage. Nevertheless, constructive criticism should be based on an accurate understanding of each institution’s statutory role.
Holding the NDDC responsible for functions outside its primary mandate risks diverting attention from those entities legally obligated to prevent, manage, and remediate oil spills.
Rather than assigning blame without a full appreciation of institutional responsibilities, stakeholders should encourage greater collaboration among oil companies, environmental regulators, state and federal authorities, community leaders, and development agencies, including the NDDC. Such collaboration offers the most practical pathway toward lasting environmental restoration and sustainable development in Bille Kingdom and the wider Niger Delta.
The people of Bille Kingdom deserve solutions, not confusion over mandates. As discussions continue, it is essential that all parties focus on facts, accountability, and coordinated action that delivers meaningful relief and long-term environmental recovery for affected communities.
Martins Ogolo
Public Affairs Analyst
martins.ogolo@yahoo.com
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