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FG’s N701bn Power Fund Worries Group
The Association of Nigerian Electricity Distributors (ANED) says the N701 billion Power Intervention Fund by the Federal Government has the potential to worsen revenue shortfalls bedeviling the power industry.
The ANED Executive Director, Research and Advocacy, Mr Sunday Oduntan, said on Sunday in Lagos that the fund was a partial solution to the sector’s liquidity challenges.
On March 2, the Minister of Power, Works and Housing, Mr Raji Fashola, announced that the Federal Government had approved N701 billion as “Power Assurance Guarantee” for the Nigerian Bulk Electricity Trading.
According to the minister, this is to make payments to the Generating Companies (GENCOs) and gas suppliers for energy supplied and future supplies of gas and energy.
Oduntan said, though, the fund was a welcome development, it, however, had the potential of exacerbating the revenue shortfalls that the market was suffering from.
He said the fund would solve the N300bn energy supply liabilities, rehabilitate and replace faulty or old turbines and pay for the supply of gas.
“As commendable as this intervention fund is, we believe that it is a partial solution to the liquidity challenges of the sector.
“While an increase in electricity supply is everyone’s desired objective, such an increase without the requisite full recovery of costs via the appropriate pricing of power, means a resultant worsening of the market revenue gap,” the ANED director said.
He said that he believed that the approved intervention was not expected to be a subsidy to the market but the proposed funding would eventually be recovered from the Electricity Distribution Companies (DISCOs) customers.
According to Oduntan, funding the transmission network is imperative for the Federal Government’s proposed intervention to work.
“The Transmission Company of Nigeria (TCN) needs to have the required capacity to wheel the additional power being generated for such recovery to occur,
“Increased generation without commensurate wheeling capacity arising from a stable and robust transmission grid will result in stranded capacity and significant lost revenues.
“From the little details made available to us, the historical shortfall does not seem to have been addressed within this initiative.
“This is imperative as the DISCOs need to be able to make the necessary investments in network upgrades, improved customer service, billing and collections, metering, all of which have been major issues in the industry.
“Such investments will not happen unless the DISCOs make the projected annual revenue requirements, which enables access to finance for the required capital expenditure (Capex).
“Access to such financing is predicated on appropriate pricing of the retail tariff.
“The growing working capital debt on the DISCO’s books less any amount to be paid under the intervention, will also continue to impede DISCOs’ ability to fund retail distribution from Capex requirements,’’ he said.
The ANED chief said it was essential to use this period to appropriately allocate all the risks in the electricity value chain.
Oduntan said that regulatory certainty and consistency continued to be the foundation for enabling and promoting the commercial conditions that would ensure a viable and sustainable Nigerian Electricity Supply Industry (NESI).
He said that though ANED applauded the GENCOs/Gas Supplier-centred intervention, it believed that there was an urgent need for a holistic solution that comprehensively addressed the revenue requirements of the entire electricity value chain.
“We believe the achievement of the stated objectives of providing confidence to investors for increased supply of electricity with the provision of this intervention will happen at the expense of limited electricity distribution,’’ Oduntan said.
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Fubara Hails Team Rivers For Winning Tinubu Inter-Schools Debate Championship …Describes Victory As Great Feat For Rivers
Rivers State Governor, Sir Siminalayi Fubara, has congratulated Team Rivers for emerging champions at the grand finale of the President Bola Ahmed Tinubu Inter-Senior Secondary Schools Debate Championship.
The governor, who was represented by his deputy, Prof. Ngozi Odu, described the students’ victory as “a great feat” and a clear demonstration of the intellectual capacity, brilliance, confidence, and preparedness of Rivers children to compete and excel at the national level.
The Tide reports that the finals of the Presidential Debate Championship held last Thursday at the Obi Wali International Conference Centre, Port Harcourt, Rivers State.
Fubara commended the students for their eloquence, critical thinking, and teamwork, while also appreciating their teachers, coaches, and the Rivers State Ministry of Education for the guidance and support that led to the outstanding performance.
“This victory is a source of immense pride to all Rivers people. It shows that our investment in education and human capital development is yielding results. Our children have once again proven that they are among the best in the country.
“We are proud of you and we will continue to support programmes that build the minds of our young people,” he stated.
The governor assured that his administration would continue to create an enabling environment and provide necessary support for academic and extra-curricular activities in schools across the State to help the youths to excel in future competitions.
He further urged other students across the State to draw inspiration from Team Rivers and strive for excellence in all their endeavors.
Fubara expressed profound appreciation to the Grand Patron of the championship and Nigeria’s First Lady, Senator Oluremi Tinubu, for her steadfast support and commitment to initiatives that promote education, youth development, and the empowerment of the Nigerian child.
?While congratulating Team Rivers for coming out on top, Fubara told the participants that they were all winners, irrespective of the outcome, stressing that their courage to stand before an audience and articulate their ideas demonstrated that the future of Nigeria remains intellectually vibrant and full of promise.
He also commended the organisers of the championship for creating a platform where young Nigerians could develop the confidence, discipline, critical thinking and communication skills required to participate meaningfully in national development.
?He reaffirmed the commitment of the State Government to supporting initiatives that advance academic excellence, innovation, discipline and opportunities for young people.
The governor dedicated an award presented to him to the people of Rivers State, the state’s education system, young Nigerians, and all those contributing to the development of the State.
?In his welcome address, the Chairman of the National Advisory Board, President’s Schools Debate, Hon. Usman Muhammed, said the championship was aimed at raising articulate, informed and responsible young Nigerians committed to democracy, good governance and nation-building.
?He commended the governor and the people of Rivers State for hosting the event, stressing that debate promotes critical thinking, tolerance and responsible citizenship.
?On his part, the State Commissioner for Education, Dr Peters Nwagor, explained that the essence of the championship was to train and develop youth, especially students, on how to get to leadership positions, saying it takes a sound mind to be able to come out to speak publicly and come to defend the opinion in a public setting.
?The Tide reports that while Team Rivers came first, Team Kwara emerged second, while Team Sokoto took the third position.
News
Fubara Unveils Reconstructed Buguma-Degema-Abonnema Road
Rivers State Governor, Sir Siminalayi Fubara, has unveiled the reconstructed Buguma-Degema-Abonnema Road, a major transport corridor linking communities across the Asari-Toru, Degema, and Akuku-Toru Local Government Areas of the State.
The project, a 19.79 kilometre road was executed by Julius Berger Nigeria PLC, brings to an end the nightmares of man-hour losses and insecurity associated with the route.
The long stretch of the road was in a very deplorable condition before the Fubara administration awarded the contract for its rehabilitation in September 2024.
Fubara disclosed that the completion of the project in record time was a fulfillment of a personal commitment made after witnessing the severe degradation of the road during a previous visit to the area.
“It is a road that you must pass if you’re going to Abonnema. It is a road that because of its state, a lot of evil activities was taking place there. But to the glory of God today, I don’t think those negative acts can even be imagined or be carried out along that corridor again.
“I made a promise to myself that day that even if it is remaining one week, we must make sure that we fix this road. Today, to the glory of God, the road has been fixed.
“I am happy that today, we are all here gathered happily that this particular dream has come to reality,” he said.
The governor reiterated that his desire for the State is not just about embarking on projects but in doing those things that will touch the lives of the people positively.
He reaffirmed the commitment of his administration to complete the Trans-Kalabari Highway, another major road project linking several coastal communities in the State.
He expressed appreciation to the people for their love and cooperation especially for allowing the contractors to do their jobs without hitches.
“You have shown me so much love. Nobody can take that away. One particular project that cannot be denied is the Trans- Kalabari Road that we are doing. I want to beg you that if I cannot meet all you requests today, don’t worry, my successor will continue from where I will stop,” he said.
Special Guest of Honour, the Amanyanabo of Abonnema Kingdom, King Desrael Gbobo Bob-Manuel, who officially commissioned the project, commended the state government for its rapid infrastructure development, noted that the rehabilitation of the roa has drastically improved travel time, safety and the living conditions of the people.
“In the past, for you to leave any of our communities to Port Harcourt, you must, as a matter of fact, go into a one-day fasting and prayers the previous day. Otherwise, you are not sure you will get to your destination.
“Today, I can leave my palace in Abonnema by 10:00 AM, and I will be wherever I want to be in Port Harcourt before 11:00 AM,” the royal father said.
King Bob-Manuel stated that the reconstructed road would not only enable the local fishermen to transport their catch directly to urban markets in Port Harcourt for better profit margins, but will open the riverine communities to new investments.
News
Tinubu Appoints Enitan As New Head Of Federal Civil Service
President Bola Tinubu has appointed Mr Abel Olumuyiwa Enitan as the Head of the Civil Service of the Federation, effective August 27, 2026.
Enitan succeeds Mrs Didi Esther Walson-Jack, who will retire soon from the Federal Civil Service upon attaining the statutory retirement age of 60.
Mr Enitan, from Osun State, is the most senior Permanent Secretary in the Federal Civil Service.
He has served as Permanent Secretary for seven years and seven months, working at the Ministry of Police Affairs, the Ministry of Humanitarian Affairs, and the Office of the Vice President. He is currently the Permanent Secretary in the Federal Ministry of Education.
Enitan, according to a statement by Special Adviser to the President on Information and Strategy, Bayo Onanuga, brings considerable institutional experience and a deep understanding of how the Federal Civil Service works to his new responsibility.
Tinubu expressed his profound appreciation to Mrs Walson-Jack for her distinguished service to the nation and for the reforms, impact and innovations witnessed in the Civil Service during her tenure.
“The President wishes her a fulfilling and successful life after service and conveys the nation’s gratitude for her years of dedicated and impactful public service,” the statement added.
Tinubu charged the incoming Head of the Civil Service of the Federation to consolidate on the reforms and innovations already underway, deepen professionalism and efficiency across the service, and build a more effective and responsive Civil Service capable of delivering on the administration’s Renewed Hope Agenda.
The President further urged Enitan to lead a Civil Service that is professional, merit-driven, accountable, innovative, and responsive to Nigerians’ needs and aspirations.
Enitan was born on December 12, 1966. He had his secondary education at Ajibode Grammar School, Ibadan and the College of Arts and Science, Ile-Ife. He later attended the University of Lagos and graduated in 1988 with a B.Sc. in Finance and Banking.
In 2015, Enitan obtained an M.Sc. in Public Policy Analysis from Nasarawa State University, Keffi.
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