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Tinubu to meet Gencos over N4tn electricity debt

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President Bola Tinubu is expected to meet with the leadership of Nigeria’s power-generating companies as part of an emergency effort to address the N4tn debt threatening to cripple the country’s electricity supply chain.

The move follows a high-level meeting on Tuesday between the Minister of Power, Adebayo Adelabu, and chairmen of Gencos in Abuja, amid mounting fears of a possible collapse of the national grid due to liquidity constraints in the sector, according to a statement from the power ministry on Sunday.

The government pledged immediate action to reduce the N4tn debt owed to power generation companies.

The Gencos had issued a warning to the Federal Government over the continued accumulation of debts now totaling over N4tn.

The companies said they were currently owed N2tn for power supplied in 2024 and N1.9tn in legacy debts.

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The statement by the minister’s Special Adviser on Strategic Communications and Media Relations, Bolaji Tunji, stated that the Federal Government had resolved to settle a substantial portion of the debt immediately, while the remainder would be cleared through financial instruments such as promissory notes within the next six months.

He said this would be proposed in a meeting being planned between President Bola Tinubu and the Gencos’ leadership.

“There is a need to pay a substantial amount of the debt in cash. At the minimum, let us pay a substantial amount, then ask for debt instruments in promissory notes to pay the rest,” Adelabu said.

He emphasised the Federal Government’s determination to prevent a collapse of the power sector, describing the situation as a national emergency.

“We recognise the urgency of this matter. The government is committed to resolving this debt to stabilise the sector and prevent further crisis,” he said.

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When questioned on a likely date for the meeting, the media aide said, “I can’t say yet,” explaining that discussions were still ongoing among relevant parties.

The Gencos were led by the Chairman of Mainstream Energy Solutions and head of the Association of Power Generating Companies, Col. Sani Bello (retd), who warned that the sector faced a looming collapse due to the mounting debt and persistent liquidity challenges.

Bello noted that the debt burden had crippled operations and limited access to funding for maintenance and infrastructure upgrades. “Without urgent intervention, the entire power ecosystem could collapse,” he said.

Echoing his concerns, the Chairman of Egbin Power and First Independent Power Limited, Kola Adesina, said, “This is a national emergency. Everything hinges on power—industries, homes, hospitals. We cannot afford to let the sector fail.”

Adelabu acknowledged the role of systemic failures and policy inconsistencies in the sector’s woes, adding that the government was not only focused on debt repayment but also committed to pushing reforms that would ease operational challenges.

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He advocated for a full liberalisation of the electricity market and called on Nigerians to embrace cost-reflective tariffs, stressing that subsidies were no longer sustainable in the long term. “Citizens must pay the appropriate price for the energy consumed. The Federal Government will continue to provide targeted subsidy for economically disadvantaged Nigerians,” he stated.

The CEO of APGC, Dr Joy Ogaji, also outlined the challenges bedevilling the GenCos, including erratic gas supply, persistent defaults on payments, and foreign exchange volatility. She noted that the dramatic depreciation of the naira—from N157/\$1 in 2013 to N1,600/\$1—had severely affected maintenance budgets and loan repayments.

“Gencos have borne unsustainable risks—from grid failures to unproductive taxes—while remaining patriotic,” she said.

Adelabu disclosed that plans were underway to implement regulatory reforms aimed at enhancing market stability and reducing levies. He urged Gencos to partner with the government in creating public awareness on electricity consumption, efficient usage, and tariff realities.

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Mbaka Offers Prayers, Endorses Mbah’s Leadership Ahead of Election (See Video)

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The Spiritual Director of the Adoration Ministry Enugu, , has offered prayers for , praying for God’s favour, protection, and victory as the state approaches the coming elections.

Speaking during a church gathering, Mbaka declared that Governor Mbah would succeed, expressing confidence that God, whom he said had begun a great work through the governor, would bring it to completion.

“It shall be well with Peter Mbah; may the favour of God be with him. We back him with our prayers. The Adoration family throws our prayers around him, that he will succeed, in the name of Jesus. May God grant him the power of victory at the end of the whole election,” Mbaka said.

The cleric further expressed hope that Mbah’s leadership would bring joy to the Igbo people, the people of Enugu State, and the Church, adding that the Igbo economy could witness greater advancement under his administration.

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According to Mbaka, the progress recorded so far gives hope that greater achievements lie ahead, stressing that God would perfect the work already begun.

His remarks come as political activities continue to gather momentum ahead of the forthcoming elections.

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Governor Mbah Directs ESEMA to Support Families Displaced by Enugu Fire

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ENUGU — Governor Peter Mbah has directed the Enugu State Emergency Management Agency (ESEMA) to provide immediate relief materials and other palliative support to two families displaced by the fire that razed a two-storey building at No. 22 Church Road, Asata, Enugu, on Saturday.
The governor’s directive followed reports by Everydaynewsngr that the inferno destroyed two flats and consumed household property, valuables, and important documents belonging to the affected families, leaving them homeless.
The General Manager of ESEMA is expected to assess the extent of the damage and coordinate the distribution of emergency relief items to ease the hardship faced by the victims while further interventions are considered.
Residents of the area welcomed the governor’s swift response, describing it as a demonstration of compassion and responsible leadership at a difficult time for the affected families.
One of the victims, an employee of a higher institution in Enugu State who is said to be approaching retirement, had lamented that the fire wiped out decades of savings and destroyed all his household belongings, including vital documents and certificates.
No lives were lost in the incident, while the cause of the fire is yet to be determined. Authorities are expected to investigate the circumstances surrounding the outbreak as affected families begin the difficult task of rebuilding their lives.
The state government urged residents to remain safety conscious and report fire emergencies promptly to relevant agencies to minimise damage and loss of property.

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Stakeholders, Firm Seek Reforms to Boost Professionalism,

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By Our Reporter
Stakeholders in Nigeria’s real estate industry, alongside Golden Land Estate Ventures Limited, have called for urgent reforms to strengthen professionalism, transparency, and investor confidence in the sector.
The call was contained in a communiqué issued on Monday in Enugu following the company’s 2026 Mid-Year Seminar/Luncheon, held on Friday, July 3, at Wendy’s Place. The seminar, themed “Next-Level Real Estate Practices,” brought together real estate developers, chief executive officers, realtors, marketers, investors, and other stakeholders from the South-East to examine emerging industry trends, challenges, and practical strategies for sustainable growth.
According to the communiqué, participants unanimously adopted several resolutions after extensive deliberations.
Among the key resolutions was a call for stronger government action against the multiple sale of land. Participants urged the Federal, State, and Local Governments to strengthen land administration policies and impose stringent sanctions on communities and individuals involved in the fraudulent sale of the same parcel of land to multiple buyers.
They noted that such practices continue to erode investor confidence, fuel land-related litigation, and discourage genuine investment in the real estate sector.
The stakeholders also stressed the need to promote professionalism and healthy competition within the industry. They maintained that competition should be driven by integrity, innovation, quality service delivery, and professionalism rather than unhealthy rivalry, misinformation, or actions capable of damaging the reputation of fellow practitioners.
They further encouraged industry leaders to embrace collaboration as a means of promoting collective growth and enhancing public confidence in the sector.
The communiqué also emphasised the importance of honesty and transparency in dealings with clients. Participants urged real estate practitioners to refrain from making false claims, exaggerating property values, misrepresenting estate locations or approvals, or giving unrealistic assurances merely to secure transactions.
They insisted that prospective buyers should be provided with accurate, verifiable, and complete information before making investment decisions.
On service delivery, the seminar called on real estate developers and chief executives to establish effective internal controls to eliminate the overselling or double allocation of plots. Developers were also urged to ensure prompt allocation of purchased lands and timely issuance of all necessary documentation.
According to the communiqué, efficient service delivery is critical to sustaining customer trust and improving the credibility of the industry.
The participants also called on government agencies, industry regulators, professional bodies, community leaders, developers, and practitioners to work together in building a transparent, accountable, and investment-friendly real estate environment that protects property buyers and supports sustainable national development.
Golden Land Estate Ventures Limited reaffirmed its commitment to promoting ethical business practices, professional excellence, continuous capacity development, and responsible real estate investment in Nigeria.
The communiqué was signed by Comrade Damian Ogudike and Mr. Ikechukwu Eze, directors of Golden Land Estate Ventures Limited, on behalf of the company’s board. It was also drafted and endorsed by the seminar’s resource persons, Mrs. Amaka Dim of Exotic Landlady Estate and Miss Blessing Anene of BuildWise Solution Centre Estate.

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Families Homeless as Fire Razes Two-Storey Building in Enugu (Video)

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By Our Correspondent

ENUGU — Two families were left homeless on Saturday after a fire destroyed two flats in a two-storey building located at No. 22 Church Road, Asata, in Enugu metropolis.

The fire, which started at about 10 a.m., reportedly broke out after the occupants of the affected upper-floor flats had left for their daily activities.

Although the cause of the fire was yet to be ascertained as of the time of filing this report, eyewitness Tony Iroji said the inferno completely destroyed household items and other valuables in the affected apartments.

One of the victims, who returned home while the building was engulfed in flames, reportedly collapsed after seeing the extent of the damage. He was revived by sympathisers at the scene.

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The victim, said to be an employee of one of the higher institutions in Enugu State and nearing retirement, lamented that years of hard work had been wiped out by the incident.

According to him, the fire destroyed all his household property, including important documents and certificates, leaving him with no option but to relocate his family to his ancestral home.

“All I have worked for all these years is gone,” he said in tears.

No life was lost in the incident, but residents appealed to the Enugu State Government, emergency management agencies and public-spirited individuals to come to the aid of the affected families, even as they urged the authorities to investigate the cause of the fire.

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Nigeria students issue 4-day ultimatum to South African business interests to evacuate Nigeria

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The National Association of Nigerian Students (NANS), the apex students governing body, has issued a four days ultimatum to South African business interests to evacuate Nigeria.

This is contained in a statement issued on Monday in Enugu by Comrade Amb. Bestman Okereafor, NANS National Executive Director, Cooperate and Private Sectors Engagement.

The statement said that after the expiration of the ultimatum, South African business interests would face full wrath of the over 43.1 million Nigerian students scattered in the nooks and crannies of the country.

“The attention of the apex students governing body, NANS, has been drawn to continuous attacks, intimidation and subsequent chase of law abiding, peaceful and hardworking Nigerians and other Africans from South Africa.

“As the biggest students body in Africa, we are giving South African business interests four days to evacuate our beloved country, Nigeria.

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“The reason for this action is simple. South Africans cannot continue to oppress and chase our people from their country and expect their businesses to thrive on our soil,” it said.

The statement further noted that immediately after expiration of the ultimatum, NANS will consider picketing South Africa business interests, while further actions will follow.”

It called on the Federal Government of Nigeria and the African Union (AU) to take more decisive actions against South Africa for their inimical acts towards other Africans.

“It is on record that Nigeria played a major role in support of South Africa during the apartheid struggle and should never be paid with disloyalty, disrespect and global embarrassment,” it added.

It would be recalled that xenophobic attack by South Africans on other Africans for some months had led to Nigerians being physically assaulted, embarrassed, intimidated, injured and some gruesomely murdered.

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Several Nigeria business interests and business premises, owned by law abiding Nigerians in South Africa, had been completely burnt down or destroyed by rampaging South Africans without any justification.

The alleged perpetrators of these crimes had earlier given Nigerians and other Africans an ultimatum of June 30 to leave South Africa.

The Federal Government through the Ministry of Foreign Affairs had in recent weeks airlifted hundreds of Nigerians, who are willing to leave the unfriendly country and her people, free of charge back to Nigeria.

However, some of those, who returned to Nigeria recently, left South Africa barely with the cloth they put on, losing savings, valuables and businesses they set up or acquired after many years.

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