News
FG To Sell Geregu, Omotosho, Calabar Power Plants For N434bn

The Federal Government has concluded arrangements to sell Geregu, Omotosho and Calabar power plants for N434billion in 2021.
The government has also concluded plans to concession the National Stadium, Lagos; Moshood Abiola Stadium, Abuja; Jos International Stadium; and Adokiye Amiesimaka Stadium in Port Harcourt; for N100million, next year.
Also, the government would in 2021, concession the National Art Theatre, Tafawa Balewa Square, and all the River Basin Development Authorities to the tune of N836million.
The arrangements by the government are contained in a document submitted by the Bureau of Public Enterprises (BPE) to the Senate during the 2021 budget defence in Abuja.
According to the breakdown, Geregu Power Plant, which was constructed at the cost $10billion, would be sold for N140.7billion, Omotosho Power Plant would go for M151.4billion and Calabar Power Plant would be sold for N143.4billion.
The government explained in the document that the proceeds from the three power plants would be paid into the coffers of the Niger Delta Power Holding Company (NDPHC).
The breakdown further showed that the National Art Theatre would be concessioned for N200million; Tafawa Balewa Square would be concessioned for N436million and all the River Basin Development Authorities would go for N200million.
Meanwhile, the BPE has been summoned to appear before the Senator Theodore Orji, Peoples Democratic Party (PDP), Abia Central led Senate Committee on Privatization and Commercialization to throw more light on the details and its revenue projection in 2021, which consists of sales of power plants and concession of government-owned properties.
The committee has also demanded an investigation into the sale of some of the Federal Government’s shares in the Afam and Geregu power plants to ensure that the country was not short-changed in the transactions.
The Senate committee has also asked the Director General of BPE, Alex Okoh, to provide members with copies of the agreements, reports and approvals from the National Council on Privatization (NCP) over the transactions of the Afam and Geregu power plants for review.
Orji said: “We also found that in Geregu Power Plant, the core investor already owned 51% shares and that the transaction emanated from a request by the investor for additional 29% of FGN residual 49% shares.
“There was no competition and only BPE and their appointed transaction advisers know how the value was determined and sold for N13billion.
“Afam Power Plant, it was mentioned that there are actually two different power plants i.e. Afam Power Plant and Afam Fast Power (a brand new plant) built by Seimen, yet to be commissioned.
“Reports have it that it cost about $1million to build a megawatt of power plant”, he added.
News
NIGERIA AT 65: FUBARA HARPS ON UNITY, PEACE

The Governor of Rivers State, Sir Siminalayi Fubara, has begun the celebration of Nigeria’s 65th Independence anniversary with a Juma’at service where prayers were offered for the progress of the state and Nigeria.
Governor Fubara, who advocated for peace and unity of Nigeria during the prayers on Friday at the Rivers State Central Mosque, Port Harcourt, indicated that without peace, the accelerated development of Nigeria will remain in a limbo.
Governor Fubara, who was represented by Alhaji Abdurrazaq Diepriye, therefore urged citizens to remain patriotic.
According to him, “Allah has brought us this far. Without peace, we can not have progress and economic development. I call on all citizens irrespective of creed or tribe to remain patriotic.”
He thanked President Bola Tinubu for restoring peace in Rivers State while also using the forum to appreciate security agencies for their relentless effort in upholding the peace and unity of Rivers State and Nigeria.
The Chief Imam of Rivers State Central Mosque, Imam Ibrahim Yaloo, admonished Moslem faithful to always speak the truth, adding that those who obey Allah will be directed to good deeds and their sins forgiven.
Prayers were offered for Rivers State and Nigeria.
Other activities to mark the 65th Independence anniversary in the state include an Inter-denominational Church Thanksgiving Service on Sunday, 28th September and Parade Ceremony on Wednesday, 1st October.
News
Shettima departs New York for Germany after UNGA engagement

Vice-President Kashim Shettima departed New York on Sunday after representing President Bola Tinubu at the 80th session of the United Nations General Assembly.
In a statement released on Sunday by the VP media aide, Stanley Nkwocha, the Vice President is now headed to Germany, where he will hold strategic meetings with officials of Deutsche Bank.
The statement read, “Vice President Kashim Shettima has departed New York, United States, after successfully representing President Bola Ahmed Tinubu, GCFR, at the 80th Session of the United Nations General Assembly.
“During his participation at UNGA 80, VP Shettima secured UN Secretary-General António Guterres’ commendation for Nigeria’s bid for a permanent UN Security Council seat.
“He also showcased Nigeria’s $200 billion energy transition opportunity to global investors and strengthened strategic partnerships with the UK on trade, defence, and migration issues.”
Nkwocha added that the VP delivered Tinubu’s national statement, calling for UN reforms and a permanent seat for Nigeria at the UN Security Council, and “demanded Africa’s control over its $700 billion mineral wealth, and digital inclusion initiatives.”
“He also engaged with the Gates Foundation on healthcare and education expansion, positioning Nigeria as the natural hub for the African Continental Free Trade Area’s $3.4 trillion market.
“VP Shettima was seen off at John F. Kennedy International Airport, New York, by cabinet Ministers who were part of the UNGA 80 delegation and Nigerian Mission officials.”
The aide noted that Shettima will return to Nigeria immediately after his engagements in Germany.
The Tide source recalls that the VP departed Abuja, yesterday.
He led other Nigerian officials at the Assembly.
News
FG holds special thanksgiving service ahead of 65th Independence Day

As part of Nigeria’s 65th Independence anniversary celebration, the Federal Government held a special thanksgiving service on Sunday at the National Ecumenical Centre in Abuja to offer prayers and give thanks for the nation.
The event drew top government officials and security chiefs, including Senate President Godswill Akpabio and Secretary to the Government of the Federation, George Akume, as well as their spouses.
Other notable guests included Finance Minister and Coordinating Minister of the Economy Wale Edun, former Plateau State Governor, Senator Simon Lalong, and the Chief of Defence Staff, General Christopher Musa, who led the service chiefs in attendance.
Service chiefs present included the Chief of Naval Staff, Vice-Admiral Emmanuel Ogala, Inspector-General of Police Kayode Egbetokun, Comptroller-General of the Nigerian Immigration Service, Mrs Kemi Nandap and Controller-General of the Nigerian Correctional Service, Sylvester Nwakuche, among others.00
The service came days after the government unveiled the official theme and some of the activities slated for the 2025 Independence celebrations.
This year’s anniversary is tagged “Nigeria @ 65: All Hands on Deck for a Greater Nation,” as announced by the Director of Information and Public Relations at the Office of the Secretary to the Government of the Federation, Segun Imohiosen, in a statement on Wednesday.
“As part of activities to mark the 65th Independence Anniversary, the Juma’at Prayer and the Inter-Denominational Church Service will be held on Friday, 26th September at 1 pm and Sunday, 28th September at 10 am respectively, as well as the World Press Conference on Monday, 29th September at 10 am,” he said.
The Tide source had earlier reported that President Bola Tinubu, alongside former Heads of State, Yakubu Gowon, Olusegun Obasanjo and Goodluck Jonathan, is expected as a special guest at a national discourse convened by the Island Club, Lagos, to mark Nigeria’s 65th Independence Anniversary.
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