Economy
President Tinubu To GenCos: Give Us More Time To Verify N4trn Electricity Debt
President Tinubu To GenCos: Give Us More Time To Verify N4trn Electricity Debt
President Tinubu to GenCos: Give us more time to verify N4trn electricity debt. President Bola Tinubu has urged power generation companies (GENCOs) to give the federal government more time to complete the verification and validation of longstanding debts owed to them.
At a meeting with members of the Association of Power Generation Companies (APGC), led by Sani Bello, the group’s head, at the Presidential Villa in Abuja, Tinubu acknowledged the inherited liabilities from previous administrations and pledged transparency and fairness in resolving them.
The president said his administration remains committed to tackling the liquidity challenges facing the power sector.
“I accept the assets and liabilities of my predecessors, and there is no question about that,” he said.
“But that acceptance must be on credible grounds. I need to wear the audit cap of verifiability, authenticity, and the fact that this inheritance is not a mere deodorant but a support structure for critical economic and industrial promotion.”
Tinubu emphasised the need for patience from GenCos and financial institutions, adding that government agencies are working with audit and legal firms to scrutinise the claims.
“We are here. So market it to your other colleagues. Give us time to do verification and validation of the numbers,” he said.
Reaffirming his belief in a market-driven electricity sector, Tinubu said legacy issues in the industry are finally receiving the attention they require.
“This is a longstanding issue that is now being dealt with. I know how much we have been able to save on fuel subsidies. We introduced the alternative, CNG, to bring relief back to the people,” he said.
Tinubu also said the government is committed to maintaining a stable investment environment and avoiding harsh measures like bank asset foreclosures against GenCos.
“To our friends in the banking sector, I ask that we avoid foreclosures. Sharpen your pencils, but keep an eraser handy. Let’s persevere together,” he said.
Describing electricity as “the most important discovery of humanity in the last 1,000 years,” the president said access to electricity is fundamental to economic growth and human dignity.
‘N4TRN BOND PROGRAMME RECEIVES ANTICIPATORY APPROVAL’
On her part, Olu Verheijen, special adviser to the president on energy, said a N4 trillion bond programme has received anticipatory approval from the president to address the sector’s liquidity shortfall.
She said the crisis stems from “a combination of unfunded tariff shortfalls and market shortfalls” that have accumulated over the past decade.
Verheijen said the federal government’s exposure to GenCos stood at N4 trillion as of April 2025, with the debts dating back to 2015.
“We have since sat with 27 GenCos — not all of them are here today — and reviewed their PPAs and gas sales agreements to understand the legitimacy of their claims. The GenCos claimed about N4 trillion from 2015 to the end of 2023,” she said.
Verheijen said the Nigerian Bulk Electricity Trading Company (NBET), which mediates between GenCos and the government, has validated N1.8 trillion of the claims so far.
“Since that period, we have had N200 billion in unfunded subsidies that have accumulated the federal government’s liability,” she said.

President Tinubu To GenCos
“So, as of April 2025, the total exposure that we are carrying at the moment is N4 trillion.”
However, she said the figure could be revised downward following final validation.
“While there is an anticipatory approval of this N4 trillion bond programme, it is subject to negotiations and final settlement of agreements,” Verheijen said.
“Only the amounts that the federal government validly owes are the things that will make it into the issuance by DMO.”
On his part, Adebayo Adelabu, minister of power, said Tinubu’s commitment to the sector has restored investor confidence and improved performance across the electricity value chain.
Economy
Governor Uba Sani Presents N985.9bn ‘People-Centred’ 2026 Budget To Kaduna Assembly
Governor Uba Sani Presents N985.9bn ‘People-Centred’ 2026 Budget To Kaduna Assembly
Governor Uba Sani presents N985.9bn ‘people-centred’ 2026 budget to Kaduna assembly. Uba Sani, governor of Kaduna, has presented a N985.9 billion 2026 appropriation bill to the state house of assembly for consideration and passage.
Speaking at the Lugard Hall on Monday, the governor said the draft budget emerged from “one of the widest consultation processes” ever undertaken in the state, involving traditional rulers, civil society organisations (CSOs), women’s groups, youth associations, business leaders and vulnerable groups across all local governments.
Sani described the budget proposal as a people-centred financial plan designed to consolidate ongoing reforms in security, infrastructure, education and rural development.
He added that the contributions of farmers, traders, teachers, artisans, persons with disabilities and widows formed “the backbone” of the proposal, strengthening participatory governance and accountability.
According to the governor, the appropriation bill comprises N734.2 billion in recurrent revenue and N251.6 billion in capital receipts, with capital expenditure accounting for 71 percent of the total figure.
He said education and infrastructure each received 25 percent of the draft budget, while health was allocated 15 percent.
Agriculture received 11 percent, security six percent, social development five percent, governance five percent, and climate action four percent of the proposed budget.
The governor also announced that every one of the state’s 255 wards would receive N100 million for community-identified projects under the ward development committee, which he said is “Nigeria’s largest grassroots budget model”.
He urged lawmakers to give the budget expeditious consideration, describing it as a vision of “renewal, resilience and far-reaching vision” for every ward and local government.
Reviewing the outgoing 2025 fiscal year, Sani said the period would be remembered for “remarkable achievements and resilient advancement”, despite economic headwinds, fluctuating federal allocations and persistent security threats.
On security, he said Kaduna faced threats ranging from banditry to kidnappings and communal conflicts, adding that improved collaboration with federal security agencies has restored confidence in many troubled communities.
According to him, previously divided communities are reconciling, farmlands are reopening, and schools once shut due to insecurity have returned to full activity through the Kaduna peace model.
The governor said his administration is executing 140 road projects covering 1,335 kilometres, adding that 64 roads have been completed.
The roads, he said, have opened new economic corridors and linked long-neglected communities.
He also said the Kaduna bus rapid transit (KBRT) system would be the first in northern Nigeria, featuring CNG-powered buses, digital ticketing and a 24-kilometre dedicated corridor.
Sani noted that the interstate bus terminal in Kakuri is 75 percent completed, while the subsidised transport scheme has saved residents more than N500 million through free and discounted rides.
He added that work on the Kaduna light rail is progressing, with phase 1 targeting the Rigachikun–Sabon Tasha corridor and phase 2 planned to link Millennium City to Rigasa.
‘300,000 CHILDREN BACK IN SCHOOL’
The governor said education remains the “cornerstone” of his development agenda, noting that 535 schools were reopened and more than 300,000 out-of-school children returned to classrooms in 2025.
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He recalled slashing tuition fees in state-owned tertiary institutions by 40 percent and listed other interventions, including the construction of 736 classrooms, renovation of 1,220 schools, and provision of water and sanitation facilities, furniture, and training for over 33,000 teachers.
In the health sector, Sani said all 255 primary healthcare centres have been upgraded to Level 2 status.
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He also announced the renovation of 15 general hospitals, the completion of five, and the commissioning of the 300-bed Bola Ahmed Tinubu Specialist Hospital.
He added that the state has implemented CONMESS and CONHESS, strengthened emergency services, built an oxygen plant, improved the medical warehouse and set aside ₦1 billion to insure vulnerable households.

Uba Sani Says
The governor said agricultural investment rose from N1.4 billion (2023) to N74.2 billion (2025), enabling the distribution of more than 900 trucks of free fertiliser and expanded support for irrigation, mechanisation, vaccines and seed improvement.
He added that the African Development Bank-supported $510 million special agro-industrial processing zone project is transforming the state into an agro-industrial hub.
On skills development, he highlighted the establishment of the Institute of Vocational Training and Skills Development in Rigachikun, satellite campuses, partnerships with Microsoft and Google, and the ongoing remodelling of Panteka Market to support over 38,000 artisans.
ASSEMBLY PROMISES SPEEDY REVIEW
Yusuf Liman, speaker of the Kaduna state house of assembly, described the budget as “ambitious, comprehensive and aligned with the state’s development priorities”.
Liman said the proposal reflects a commitment to strengthening human capital, expanding rural infrastructure and ensuring balanced urban-rural development.
He commended the governor for granting lawmakers direct involvement in constituency projects and praised the executive-legislative synergy, which according to him, has accelerated development interventions.
The speaker promised a thorough review of the document and pledged that the assembly would work with the executive to ensure its speedy passage.
UBA SANI HAILS TAJUDEEN ABBAS
Meanwhile, Sani has hailed Tajudeen Abbas, speaker of the house of representatives, as one of the most accomplished presiding officers in the history of the national assembly.
Speaking on Sunday in Zaria at the renewed hope empowerment programme sponsored by Abbas, the governor said the speaker’s ability to manage the complexities of the 360-member lower chamber sets him apart.
Sani, who was special guest of honour at the event, added that his assessment is shared by President Bola Tinubu.
“As a former senator, I know how difficult it is to preside over the house of representatives,” the governor said.
“No matter your competence, patience and hard work, one day you will be pushed to the wall. But as of today, in the history of Nigeria, no speaker has brought about development like Tajudeen Abbas,” he said.
“I’m not the one praising him; it was President Bola Ahmed Tinubu who said it. I’m only repeating what he said.”
Sani said he is proud of Abbas for championing empowerment initiatives for youths and women, not only in his Zaria constituency but across Kaduna state and the country.
The governor also recalled that some political actors questioned his role in rallying support for Abbas during the contest for speaker.
“I told them my support was not based on politics. I will support anyone who will bring development to Kaduna state,” he said.
“Now, I have been vindicated by the projects he has executed and the empowerment programmes he is doing.
“I have told all legislators here that we can only be on good terms if they bring development to their people.
“Anyone who does not attract a school, hospital or any project to his constituency, we will part ways with him.”
Sani said the speaker has assisted all Kaduna federal lawmakers in securing projects for their constituencies, adding that Abbas is also personally executing projects across all 23 LGAs in the state.
He appealed for similar consideration for Sabon Gari LGA, saying residents want a stadium like the one being constructed in Zaria.
The event, held at Kofar Doka, featured the distribution of empowerment tools, including SUVs for traditional leaders; tractors, combine harvesters, fertiliser applicators and knapsack sprayers for farmers; as well as solar- and petrol-powered irrigation pumps.
Women beneficiaries also received deep freezers, grinding machines, industrial sewing machines and haulage tricycles.
Economy
APC Chieftain Asks Governor Otti To Review Levies Imposed On Aba Traders
APC Chieftain Asks Governor Otti To Review Levies Imposed On Aba Traders
APC chieftain asks governor Otti to review levies imposed on Aba traders. Paul Ikonne, a chieftain of the All Progressives Congress (APC) in Abia, has criticised Alex Otti, governor of Abia, over the “excessive” levies imposed on traders in Aba markets.
BACKGROUND
Some traders in Abia state recently appealed to Otti to intervene in what they described as the illegal demolition of their shops and the escalating cost of spaces in the market currently undergoing remodelling.

Alex Otti
They said the firm handling the project has not fulfilled its agreement to provide temporary accommodation and halt further demolition until existing work is completed.
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Economy
FULL LIST: Patience Jonathan, Ganduje Affected As FCTA Begins Enforcement On Revoked Property Titles
FULL LIST: Patience Jonathan, Ganduje Affected As FCTA Begins Enforcement On Revoked Property Titles
FULL LIST: Patience Jonathan, Ganduje affected as FCTA begins enforcement on revoked property titles. The Federal Capital Territory Administration (FCTA) has published the names of entities and individuals linked to 1,095 property titles recently revoked over the non-payment of statutory land charges.
The affected properties are located in high-brow districts including Asokoro, Maitama, Garki and Wuse.
In a public notice signed by the FCTA management, the agency said enforcement actions against the properties will commence following the expiration of the final grace period of 14 days on November 25, 2025.
The FCTA said 835 properties defaulted in payment of ground rents, while 260 properties defaulted in payment of violation fee and land use conversion fee.

Patience Jonathan
Among the individuals whose properties were listed in the notice are Abdullahi Ganduje, former governor of Kano; Donald Duke, former governor of Cross River; Patience Jonathan, wife of former President Goodluck Jonathan; David Mark, former senate president; and Iyiola Omisore, former deputy governor of Osun.
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