NIGERIA NEWS
Opposition Leaders Raise the Alarm, Accuse FG of Plotting One-party State – THISDAYLIVE
*Presidency: You are failed politicians in empty search for scapegoats
*Parties demand independent review of public accounts since 2015
*Want anti-graft operatives embedded into govt payment at all levels
*EFCC: No political motives in our operations
*APC registers Taraba governor amid concerns over decimation of opposition
Emmanuel Addeh in Abuja and Wole Ayodele in Jalingo
Opposition leaders yesterday raised fresh alarm over what they described as a coordinated assault on Nigeria’s multiparty democracy, accusing the President Bola Tinubu administration of using anti-graft and security institutions to intimidate political rivals and forcing opposition governors into the ruling All Progressives Congress (APC).
In a strong riposte, the presidency described the opposition political parties as failed politicians, accusing them of singing a familiar tune, hoping their cheerleaders would see their action as a blistering attack from a seemingly virile opposition group.
A statement by the president’s spokesman, Bayo Onanuga, late last night maintained that Nigeria’s constitution guarantees freedom of association and affords the people the right to change their political leanings at any time of their choosing.
“None of the people who joined the governing APC was pressured to do so. They all did so of their own free will. They are being motivated by the noticeable gains of President Bola Tinubu’s reform programme,” the presidency insisted.
But amid the allegations of pressure on opposition figures, the APC has formally registered Taraba State Governor, Agbu Kefas, ahead of his anticipated defection to the ruling party, a move that further reshapes the political landscape in the North-east.
The registration, carried out by the state leadership of the APC led by its Deputy Chairman, James Ahmadu, took place at the Government House in Jalingo, with the governor issued membership card number 001. The latest defection takes the number of governors leaving their party for the APC in recent times to six.
However, amid the back and forth over imputations that the Economic and Financial Crimes Commission (EFCC) has become a political tool in the hands of the current government, the anti-graft agency said yesterday that it remains neutral in its operations, urging politically exposed persons in its net to cooperate fully.
In a joint statement signed by former Vice President Atiku Abubakar, former Senate President David Mark, former presidential candidate of the Labour Party (LP) Peter Obi and other senior figures, the opposition alleged that agencies such as the EFCC were being weaponised to weaken opposition parties ahead of the 2027 general election.
Aside from being the longest serving Senate President in Nigeria, Mark, a retired military general and former military governor of Niger State is the current Chairman of the African Democratic Party (ADC), the party eyeing the takeover of government in 2027.
The opposition warned that Nigeria was drifting towards a de facto one-party state through coercion rather than electoral competition.
Beyond immediate incidents, the opposition leaders demanded sweeping reforms, including the depoliticisation of the EFCC, the embedding of anti-graft operatives in government payment processes at all levels, and the creation of an independent review body to examine public accounts from 2015 to 2025, warning that continued selective enforcement of the law posed a grave threat to Nigeria’s democratic stability.
Besides, Atiku, Mark and Obi, other signatories to the statement by the opposition included: A former Governor of Edo State and ex-national Chairman of the APC, Chief John Odigie-Oyegun; a chieftain of the Peoples Democratic Party (PDP), Chief Bode George; and former Federal Minister, Lawal Batagarawa.
“We are compelled by duty to nation and conscience to issue this statement to alert our compatriots and the international community to the unfortunate and gradual slide of our country into a state where key national institutions – particularly the Economic and Financial Crimes Commission (EFCC); the Nigeria Police; the Independent Corrupt Practices and Other Related Offences Commission (ICPC) are increasingly perceived as tools of political intimidation, selective justice and systematic persecution of opposition leaders.
“Across our nation, there are mounting concerns that state power is being deployed not for prevention of economic crimes, but for persecution of perceived political adversaries, with the ultimate aim of weakening opposition voices and dismantling Nigeria’s multiparty democracy,” the opposition leaders stated.
More than ever before in Nigeria’s democratic experience, the opposition coalition stated that Nigerians have witnessed what many now describe as a covert, undemocratic agenda to ensure that all state governments fall under the control of the president’s party.
The plan, it said, was not being carried through transparent electoral contests, but by secretly intimidating opposition governors via the anti-corruption apparatus until they succumb and defect.
According to the opposition, recent defections of opposition governors into the ruling party have reinforced public suspicion that political pressure, not ideological or personal persuasion, is driving this realignment.
This pattern, according to the key opposition parties, forms part of a broader project that targets not only elected leaders but also key opposition figures perceived as architects of emerging coalitions ahead of the 2027 general election.
“We must warn that this project, if allowed to continue unchecked, poses a grave danger to Nigeria’s democratic future,” the group maintained.
Warning against the weaponisation of the EFCC, the opposition stated that there is a discernible pattern of persecution of the opposition by the anti-graft agency with the sole objective of weakening the same for the benefit of the ruling APC.
The coalition said: “This disturbing pattern mirrors a long-standing sentiment openly expressed years ago by a former National Chairman of the ruling APC, Adams Oshiomhole, who declared when receiving defectors from the PDP: ‘Once you have joined APC, all your sins are forgiven.’
“ Whether intended as political rhetoric or not, this statement has come to symbolise a troubling reality: allegations against members of the ruling party are routinely perceived to be overlooked, while even unsubstantiated accusations against opposition figures are vigorously pursued and subjected to media trial.
“A few recent examples reinforce this perception. Months ago, a minister was implicated in a financial scandal so blatant that only sustained public outrage forced her resignation. Yet, long after stepping down, she has neither been charged nor arraigned by the EFCC and is now actively involved in the President’s re-election campaign.
“Similarly, another minister remained in office despite the university he claimed to have attended publicly denying his academic certificate. He, too, resigned only after intense public pressure. Months later, no charges have been filed.
“Such selective enforcement undermines the legitimacy of anticorruption efforts and erodes public trust. Furthermore, Nigerians are not blind to the sudden empowerment of certain political actors, including individuals appointed to federal executive positions after crossing from the opposition but still claim to be members of opposition party – whose unstated mandate, in the public’s eyes, appears to include the systematic destabilisation of opposition parties through the creation of factions, inducement and the exploitation of judicial processes, allegedly funded by state resources.”
Describing the EFCC as a critical national institution, created to safeguard Nigeria’s economic integrity, the opposition stated that yet today, many Nigerians fear that its independence is steadily being eroded.
An agency designed for prevention and accountability, it maintained, risks becoming an instrument of political persecution, undermining both justice and democracy, insisting that the President must recognise that evident social and political injustice could snowball into mayhem as the nation approaches another election cycle.
The group maintained that this trend must be halted immediately if the nation must be spared a major catastrophe, calling for the depolitisation of the EFCC, defence of a multi-party system, among others.
“The operations of the EFCC must be urgently shielded from political interference and must not serve the whims and caprices of any President, party or political faction. The Commission must refocus on genuine detection and prevention of economic crimes across board, not selective prosecution, media trials or intimidation of opposition figures. For the avoidance of doubt, the functions and powers of the commission are expressly provided for under Sections 6 & 7 respectively.
“ Nigerians must remain eternally vigilant to ensure that the President does not transform the country into a de facto one-party state – as witnessed in Lagos over the last 25 years, where opposition leaders were silenced, coerced or induced into irrelevance.
“Relying on the Supreme Court ruling on the powers of the EFCC over all public accounts, for true prevention of financial crimes, anti-graft operatives should be embedded in all the payment processes of governments at all levels to ensure compliance with rules of transparency, accountability and probity in public financial transactions.
“Put differently, the EFCC must recognise and exercise their function as covering both pre and post expenditure. operatives must also be held accountable for any unreported but later detected economic and financial infractions in their respective areas of oversight. To further strengthen the EFCC, we propose that the EFCC Act should be amended for this purpose,” the opposition coalition stated.
Besides, the parties called on the Attorney General, in consultation with the National Assembly, to set up an independent review body which should be granted full access to the public accounts of the federal, all states and all local governments covering 2015 to 2025, with a mandate to conduct a transparent, comprehensive review of financial transactions and publish its findings.
Such a review, it said, will expose the EFCC’s pattern of selective prosecution of opposition figures and reveal that many current officials of the federal government and those of ruling-party-controlled states should have long been prosecuted for economic and financial crimes, but were shielded due to their political affiliation.
Based on its findings, the independent body, it averred, should also propose amendments to EFCC’s enabling law to strengthen the agency for more effective and efficient prevention of financial crimes.
This proposed body, according to the opposition, should be chaired by an eminent judge, and composed of the following: Representatives from civil society organisations; representatives of the Nigerian Bar Association (NBA); representatives of the Institute of Chartered Accountants of Nigeria (ICAN) and representatives of Institute of Chartered Bankers.
Besides, it proposed that the membership should include: The Nigerian Financial Intelligence Unit (NFIU); representatives of anti-graft agencies; representatives of the Police; representatives of the Department of State Services (DSS); representatives of the Armed Forces as well as representatives of all political parties with a seat at the National Assembly.
“We call on all patriotic Nigerians across party lines, professions, regions and faiths to stand firm. Our democracy is under threat through the deliberate and systematic weakening of opposition forces, with the EFCC as the central instrument in this troubling strategy.
“In the coming weeks, we will provide more details, and also engage foreign partners of Nigeria’s anti-graft agencies and diplomatic missions, including United States, UK, Canada, EU, World Bank Office, United Nations, to express our deep concern about the EFCC increasingly becoming a willing tool in a broader scheme to weaken opposition in Nigeria, and also demand a reform of the anti graft agency.
“Nigeria’s democracy demands our vigilance, courage and unity, as Edmund Burke, an Anglo-Irish statesman and philosopher, warned: ‘The only thing necessary for the triumph of evil is for good men to do nothing’.
“We are equally guided by the enduring words of Martin Luther King Jnr: ‘Silence in the face of evil is itself evil ……In the end we shall remember not the words of our enemies, but the silence of our friends.” Now is the time for all of us to rise in defence of our cherished multiparty democracy, and indeed, in defence of the very soul of our nation,” the coalition stated.
But in a response, the presidency described Nigeria’s ‘so-called opposition politicians, ‘comprising some of those left in a dying political party and a sprinkling of some failed political office aspirants’ regrouping in a platform struggling to find its bearings, as amusing lots.
It stated that they blow hot air, seek scapegoats for their failure and move to confuse the polity in a desperate search for cheap political gains.
“On Sunday, a group of opposition figures gathered to sing their familiar tune, hoping their cheerleaders would see their action as a blistering attack from a seemingly virile opposition group.
“They alleged a threat to multi-party democracy because many top politicians are joining the governing All Progressives Congress of their own free will. Our constitution guarantees freedom of association and affords our people the right to change their political leanings at any time of their choosing.
“None of the people who joined the governing APC was pressured to do so. They all did so of their own free will. They are being motivated by the noticeable gains of President Bola Tinubu’s reform programme.
“We may ask: when politicians were moving in droves to the now-dying Peoples Democratic Party between 2000 and 2015, was Nigeria’s democracy imperilled?”, the statement said.
Also, it stated that investigations by the EFCC have begun exposing those with some explanation to give regarding their stewardship in office and management of public funds entrusted to them, stressing that these politicians now accuse Tinubu of weaponising the EFCC for political purposes.
While the Presidency does not speak for the EFCC and believes the agency can speak for itself, Onanuga stated that it must be reiterated that the EFCC is an independent institution established by law and empowered to carry out its statutory responsibilities without interference or favour.
“The agency’s mandate is to investigate and prosecute financial crimes, irrespective of the personalities involved, their political affiliations, or their positions in society. We find it curious that the same people who claimed they want to rescue Nigeria are now the ones waging a war of attrition against accountability and probity. Those who have cases to answer before EFCC should be bold and brave enough to defend themselves if they are clean.
“President Tinubu does not issue directives to any anti-corruption agency on whom to investigate, arrest, or prosecute. President Tinubu has significant state issues to address rather than engage in political targeting.
“The prosecution is conducted by the court, not by any sleight of hand, and those found not guilty will receive a clean bill of health. Allegations of ‘weaponisation’ are distractions from these politicians, who are running short of campaign issues to challenge President Tinubu and the APC’s success in less than three years in office.
“No one is above the law. Everyone must be accountable for their actions, both in and out of the office. Political affiliation should not be a shield against EFCC statutory work, which recently led to Nigeria’s removal from the FATF grey list,” the presidency added.
In the same vein, it stated that it had taken cognisance of the signatories to the statement, explaining that it was instructive that some of them were previously investigated and prosecuted by the EFCC even before Tinubu took office in 2023.
Some of these politicians, it pointed out, have also been indicted in international financial probes for money laundering, with some of their accomplices jailed in foreign lands.
“Are they now signing statements because their chickens are coming home to roost? We advise those politicians not to undermine the integrity of our nation’s institutions and the collective resolve to fight corruption by weaponising politics to escape accountability and encourage impunity.
“The fight against corruption is a collective responsibility and should not be trivialised by baseless allegations, jaundiced or politicised narratives,” the statement by the presidency stated.
For its part, the EFCC, in a statement by its spokesman, Dele Oyewale, noted that though not disposed to joining issues with respect to its operations in the media, it was compelled to respond to the ‘patently false’ claims.
Specifically, it stated that the allegations by a former Attorney-General and Minister of Justice, Abubakar Malami (SAN) about a purported revocation of ‘his bail over attendance at a political gathering in Kebbi’, was untrue.
According to the EFCC, administrative bail is a discretionary temporary reprieve that allows a suspect to be released on stated conditions pending conclusion of investigation and arraignment in court.
To this effect, it stressed that after his brief interrogation on November 28, 2025, Malami was offered provisional bail hinged on five requirements, maintaining that he has neither met any of the requirements nor shown readiness to keep faith with them.
“He was due back for further interrogation on December 1, 2025 , but in a curious twist, the former Minister pleaded with his investigators through a letter written to the Commission on December 4, 2025, to allow him to attend to his ‘ill-health’. The commission compassionately granted his plea even while his bail conditions had not been met.
“He was initially required to commence reporting for further investigations on December 1, 2025 but this had to be deferred to December 4, 2025 largely owing to his ‘Request for an Adjournment on Grounds of Ill- Health’ . He neither provided a medical report nor credible proof of ill-health to the Commission.
“The EFCC cannot allow the latitude granted the former Minister on his health stand in the way of investigations . On this score, he was invited again on December 8, 2025 for further interrogation and detained until the pending bail conditions are met,” the EFCC stated.
Evidently, the EFCC stated that the former minister’s claims of revocation of bail by the EFCC are untenable, pointing out that it was equally ridiculous to insinuate that the commission barred him from granting media interviews and from participating in political activities in Kebbi State.
“ Such bogus claims from a former chief law officer of the nation are strange, as the EFCC has no interest in the political affiliation of its suspects. It bears reiterating that the Commission is apolitical. A former governor and ranking member of the ruling party was recently arraigned for alleged contract fraud.
“The commission wishes to advise Malami to expend his energy on meeting the five bail conditions he acknowledged and signed on November 28, 2025. It would also serve his interest to cooperate with his team of interrogators rather than dissipate energy in whipping up sentiments through false claims in the media,” the EFCC stated.
Meanwhile, ahead of his defection ceremony, the APC on Sunday officially registered the Taraba State Governor, Kefas.
The governor was initially billed to leave for the APC on November 19, but the ceremony had to be postponed indefinitely due to the abduction of school children in Kebbi and other parts of the country.
The leadership of APC in the state led by the Deputy Chairman, James Ahmadu, conducted the registration of the governor at governor’s office in Jalingo, THISDAY learnt.
Kefas was registered in his Hospital Ward in Wukari local government area and was issued with the membership card 001 in the presence of the Speaker of the State House of Assembly, Kizito Bonzena and former Speaker of the House, Abel Peter Diah.
Others present at the event were: The Chief of Staff to the governor, Dr Jeji William, SDP gubernatorial candidate in the 2023 election, Danladi Baido Tijos and Special Adviser to the governor, Prof Josiah Sabo Kente.
Speaking on the occasion, the governor expressed appreciation to the leadership of the party for the gesture and assured of his commitment to take the party to greater heights.
He noted that with his resignation, the APC has officially taken over the leadership of the state and would henceforth win overwhelmingly in subsequent elections in the state.
“I was billed to decamp officially on 19th of November but has to be postponed indefinitely in solidarity with events at the national level, particularly the abduction of school children in Kebbi and other parts of the country.
“Though the ceremony would be done in the near future, the registration had to be done today so that the party can effectively take over the leadership of the state,” he stated.
The Speaker was equally issued his membership card by the leadership of the party at his Zing Ward in Zing local government area.
African Democratic Congress, ADC, in Kebbi State has accused the Economic and Financial Crimes Commission, EFCC, of acting with political bias and outside the provisions of the law following the continued detention of former Attorney-General of the Federation and Minister of Justice, Abubakar Malami.
The party made the allegation on Sunday during a press conference at Azbir Hotel, Birnin Kebbi, where it called for Malami’s immediate release, describing his detention as unconstitutional and politically motivated.
Addressing journalists, the Kebbi State Chairman of the ADC, Sufyan Bala, alleged that the EFCC had overstepped its statutory mandate and was gradually assuming the role of “the law itself,” instead of operating as a law enforcement agency subject to constitutional limits.
“The EFCC is a creation of the law and must operate strictly within the confines of the Constitution. When law enforcement becomes selective and biased, it poses a serious threat to democracy and the rule of law,” Bala said.
The party further alleged that Malami’s detention, given his position as a senior member and leader of the ADC in Kebbi State, was part of a broader attempt to intimidate opposition figures and coerce them into joining the ruling All Progressives Congress, APC.
According to the ADC, Malami has not been formally charged with any offence, a situation it said violates the provisions of the 1999 Constitution (as amended), stressing that no citizen should be treated beneath the law.
“We are not asking for special treatment. He must not be treated above the law, but certainly not beneath it. Democracy cannot thrive under fear, intimidation and lawlessness,” Bala added.
Despite the development, the party said it remained resolute and undeterred, assuring members and supporters of its commitment to democratic ideals and active political participation ahead of the 2027 general elections.
The ADC chairman urged party members across Kebbi State to remain calm and law-abiding, while reaffirming the party’s determination to challenge what it described as ineffective governance at the local, state and national levels.
However, it was gathered that Malami was taken into custody after allegedly failing to meet bail conditions granted to him by the anti-graft agency.
He has reportedly remained in detention since December 8 and is being investigated over allegations bordering on abuse of office and terrorism financing.
Former Labour Party presidential candidate, Peter Obi, is expected to formally leave the party this week, following months of unresolved leadership crises and deep internal divisions.
Obi’s anticipated exit is linked to the prolonged instability within the Labour Party, which has continued to struggle with factional leadership, court cases and lack of internal cohesion since the 2023 elections.
The development has fueled intense speculation over his next political destination, although no final decision has been publicly confirmed.
Findings by POLITICS NIGERIA indicate that while several opposition parties have reached out to the former Anambra State governor, discussions are still ongoing.
His next platform remains uncertain, with consultations said to be fluid and far from concluded.
There have been strong talks linking Obi to the African Democratic Congress (ADC). However, indications suggest that the party may not be his immediate destination. Internal arrangements and unresolved structural matters are believed to be key sticking points in the ongoing conversations.
Sources familiar with the situation say Obi has raised concerns about internal processes, leadership structure and long-term direction within parties courting him. These concerns, it was learnt, have slowed down any final agreement.
There are also emerging political alignments within the ADC that may affect Obi’s calculations. Some developments suggest the party may be leaning towards a different presidential option ahead of 2027, a situation that could complicate Obi’s own political ambition.
Against this backdrop, Obi is said to be considering an entirely new political platform. The option of joining an existing party with entrenched interests and prior agreements is reportedly being weighed carefully, as he seeks political space to operate freely.
The crisis rocking the Labour Party is largely rooted in leadership disputes that intensified after the 2023 elections. Central to the conflict is the controversy surrounding the tenure of former National Chairman, Julius Abure.
Obi and several party stakeholders have maintained that a Supreme Court ruling effectively brought Abure’s leadership to an end. However, the continued recognition of his faction by the Independent National Electoral Commission (INEC) has prolonged the impasse.
As a result, the party has operated with parallel executives and rival factions, each claiming legitimacy. This division has weakened internal discipline, stalled decision-making and slowed efforts to reposition the party nationally.
Those close to Obi say he believes his continued stay in the party has worsened the situation. His political influence and popularity, they argue, have been used by rival camps to strengthen their claims.
According to insiders, Obi feels that stepping away may give the party breathing space to resolve its internal issues without his name being dragged into the struggle for control.
The Labour Party rose to national relevance during the 2023 presidential election largely due to Obi’s candidacy. His campaign energized young voters, urban professionals and first-time participants, transforming the party from a fringe platform into a major political force.
However, that momentum has since waned. Several elected officials have left the party, citing confusion, lack of direction and the unresolved leadership crisis.
Obi is said to be increasingly concerned that remaining in a party plagued by endless disputes could hurt his reformist image and weaken his support base ahead of future elections.
Although he has not officially announced his next move, indications suggest he is inclined towards a platform that promotes internal democracy, clarity of leadership and minimal legal distractions.
His departure is expected to trigger fresh political realignments across the opposition space. Parties are already positioning themselves to attract supporters of the popular “Obidient” movement, which remains a significant political force.
When contacted, the spokesman of the African Democratic Congress, Bolaji Abdullahi, said he could not confirm whether Obi was set to join the party. He noted that the ADC would be open to welcoming Obi should he decide to come on board.
Attempts to get official reactions from the Labour Party were unsuccessful, as calls to party officials were not returned as of the time of filing this report.
The Nigerian Air Force (NAF) has executed a successful air interdiction mission against terrorist logistics at Dabar Masara in the southern Tumbuns.
The operation was carried out on December 14, 2025, by the air component of Joint Task Force Operation HADIN KAI.
The NAF said the strike followed credible intelligence indicating the presence of a terrorist workshop and sustained movement of armed elements in the area.
It said an integrated force package was deployed to conduct coordinated intelligence, surveillance and reconnaissance missions alongside strike operations.
The NAF said earlier surveillance revealed repeated terrorist movement and a significant number of vehicles concealed under vegetation.
It said the findings confirmed the location as an active terrorist logistics hub.
Air Commodore Ehimen Ejodame, NAF spokesman said in a statement: “On the day of the operation, further surveillance validated the earlier findings, with terrorists observed manoeuvring within the location and around the identified vehicles.
“Following positive identification and in strict adherence to the Rules of Engagement, the targets were engaged. Post-operation Battle Damage Assessment confirmed that the identified vehicles were destroyed and terrorist elements were neutralised.
“The successful execution of this mission underscores the NAF’s continued commitment to intelligence-driven, precise air operations in support of national efforts to degrade terrorist networks and enhance security across affected regions.”
The Federal Government’s plan to issue up to N4 trillion in government-backed bonds to settle legacy debts owed to electricity generation companies (Gencos) and gas suppliers has triggered concerns over its risky debt-for-debt strategy.
At the heart of the initiative is a strategic move to convert long-standing IOUs within the electricity market into tradable, FGN-guaranteed securities.
This shift is designed to stabilise liquidity in the electricity value chain, restore investor confidence, and resolve decade-old cash flow disputes that have crippled power generation and supply.
However, while some analysts welcome the plan as a pragmatic fiscal solution to an intractable problem, others warn it could entrench structural market failures, deepen public debt, and create long-term liabilities for taxpayers.
How the Bonds Are Structured
According to a term sheet reviewed by Nairametrics, the bonds are being issued by NBET Finance Company PLC, with full sovereign guarantee from the Federal Government of Nigeria.
The sponsor of the transaction is the Nigerian Bulk Electricity Trading Plc (NBET), while CardinalStone Partners is acting as the lead issuing house and financial adviser.
The bond issuance has a programme size of N4 trillion, with Phase 1 already underway. The government plans to raise N1.23 trillion between November and December 2025, split into two tranches:
- Series 1 Tranche A: N300 billion offered to investors for cash through a book-building process.
- Series 1 Tranche B: N290 billion allotted directly to Gencos on the same terms but not paid in cash. These bonds can be sold in the secondary market or pledged as collateral for loans.
The non-cash bonds provide Gencos with liquidity options without requiring immediate cash payouts from the government, and the issuer reserves the right to expand these allocations to Gencos up to the approved N1.23 trillion ceiling for Phase 1.
The bonds have a 7-year tenor with semi-annual interest payments and a fixed coupon rate. The pricing will reflect the yield on a comparable 7-year FGN Bond plus a market spread.
What the Bonds Aim to Solve
Nigeria’s power sector has long suffered from a broken payment structure. Gencos frequently complain of unpaid invoices from NBET, which in turn blames Distribution Companies (Discos) for failing to remit full payments.
Discos cite tariff shortfalls, poor collection efficiency, and technical losses as major barriers to meeting obligations.
Data from the Nigerian Electricity Regulatory Commission (NERC) shows that in September 2025, Discos billed only 86.4% of energy received, losing 13.6% to energy theft or metering gaps.
Worse still, only 81.25% of the billed amount was collected, indicating an Aggregate Technical, Commercial and Collection (ATC&C) loss of over 30%.
This structural inefficiency creates a liquidity squeeze that flows upstream as Gencos can’t pay gas suppliers, gas suppliers cut off fuel, and generation capacity dips.
The bond issuance seeks to interrupt this cycle by injecting liquidity and enabling Gencos to meet immediate obligations.
FG’s Position: Stabilising the Power Sector
According to Olu Verheijen, the Special Adviser to the President on Energy, the bond is part of the broader Presidential Power Sector Debt Restructuring Programme, which was approved by President Bola Tinubu and ratified by the Federal Executive Council (FEC) in August 2025.
Verheijen disclosed that the bonds will help clear verified arrears to generation and gas companies and are intended to restore financial stability to a sector that has deterred investment and stalled energy reform efforts.
She emphasised that the bonds are fully government-guaranteed and amortising, meaning repayment will occur gradually over time, easing fiscal pressure.
Critics Warn of Fiscal Risks and Poor Precedents
Despite the policy intent, the bond programme has sparked criticism among former regulators and financial analysts.
Dr. Sam Amadi, former Chairman of NERC, questioned the logic of using public debt to resolve market obligations. “These are market debts. Why is the government stepping in with sovereign guarantees before a full review of how the debts were incurred?” he asked.
Amadi warned that recurring bailouts would encourage market complacency and reduce the pressure on Discos and NBET to operate efficiently.
“When I was Chairman of NERC, I rejected a proposed N5 billion injection into the Afam power plant. Markets should be allowed to function, and debts should be settled through transparent regulatory processes,” he said.
“Debt to Pay Debt” – Concerns About Long-Term Sustainability
For Dr. Biyi Ogunmodede, a power sector analyst at Nexton Consulting Ltd, the bond plan appears to be “using debt to pay debt”. He acknowledged the potential short-term benefits but flagged concerns about sustainability.
“The bond market is not a magic wand. You still have to service the debt. If Discos don’t improve performance and tariffs are not restructured, you’ll end up with another round of unpaid market obligations,” he noted.
Ogunmodede argued that liquidity support must go hand-in-hand with deeper sector reform, including tariff rationalisation, Disco recapitalisation, and improved regulatory enforcement.
Experts Call for Transparency and Reform Benchmarks
In a policy brief shared with Nairametrics, Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise (CPPE), urged the government to embed accountability, verification, and transparency mechanisms into the bond programme.
Yusuf warned that Nigeria’s experience with subsidy regimes shows how well-intentioned interventions can be hijacked or poorly implemented.
“There is an urgent need to subject all claims to rigorous audit and ensure that settlement is based on verifiable liabilities,” he said.
He also advocated for a phased transition to cost-reflective tariffs, supported by targeted social protection for low-income households. In addition, Yusuf called for performance-linked reforms for Discos, including loss reduction targets, technical upgrades, and capital injections where necessary.
Implementation Framework Already Underway
The Federal Government has confirmed that implementation frameworks for the bond programme have been finalised, following high-level meetings with Gencos and key sector stakeholders in October 2025.
Officials reviewed the modalities for clearing verified arrears and laid out a timetable for phased payments.
According to Ministry of Power insiders, the bond will be issued in tranches aligned with ongoing verification audits of market claims.
The government hopes the successful issuance of the first N1.23 trillion will establish a blueprint for market discipline, setting the stage for subsequent reforms in tariff regulation, market operations, and investor governance.
What You Should Know:
- The bond programme is fully guaranteed by the FGN, enhancing investor confidence.
- Gencos are receiving tradable securities, not cash, but can monetise them in the open market.
- The bond has a 7-year tenor, semi-annual coupons, and targets institutional investors.
- Repayment is tied to FG budgetary allocations and market revenues, especially Disco collections.
- Analysts stress that without cost-reflective tariffs, stronger Disco performance, and transparent oversight, the intervention may fail to prevent another cycle of debt accumulation.
The Federal Government has outlawed the admission and transfer of students into Senior Secondary School Three (SS3) across all public and private secondary schools in Nigeria, citing rising concerns over examination malpractice.
The new rule, announced by the Federal Ministry of Education on Sunday, will come into force from the 2026/2027 academic session.
Ban takes effect from 2026/2027 academic session across public and private schools
Under the policy, schools may only admit or accept transfers into Senior Secondary School One (SS1) or Senior Secondary School Two (SS2), with SS3 completely excluded.
According to the ministry, the decision follows persistent reports of unethical practices during external examinations, including the use of illegal “special centres” designed to give candidates undue advantage.
In a statement signed by the Director of Press and Public Relations, Boriowo Folasade, the ministry explained that the ban was intended to halt the late movement of students into final-year classes purely for examination benefits.
Education Minister Tunji Alausa emphasised that the policy is aimed at strengthening standards and restoring integrity in secondary education.
Education ministry warns schools of sanctions for violating new admission policy
“School proprietors, principals, and administrators nationwide have been directed to comply fully with the policy. Any violation will attract appropriate sanctions in line with existing education regulations and guidelines,” the statement
Officials further noted that the ban forms part of broader education reforms designed to safeguard the credibility of national examinations and reinforce public trust in the system.
The ministry reaffirmed the Federal Government’s commitment to improving academic standards and ensuring that assessment processes reflect genuine learning rather than manipulation.
With the 2026/2027 academic calendar set as the commencement date, stakeholders have been advised to adjust their admission practices accordingly, as no waiver or special approval will be granted for SS3 entry under any circumstances.
By Theodore Opara
THE Nigeria Auto Journalists Association, NAJA, has announced that all is set for the 2025 NAJA Awards, scheduled to hold on Tuesday, December 16 at the Oriental Hotel, Lagos.
The annual ceremony, revered across the motoring community as the “Oscars” of the Nigerian automotive industry, will unite the country’s most influential brands, regulators, distributors, innovators, and mobility stakeholders for an evening of celebration and industry reflection.
Speaking ahead of the event, the Chairman of the NAJA Awards Organising Committee, Frank Kintum described the 2025 edition as “a defining moment for Nigeria’s auto industry”, noting that this year’s competition is one of the strongest in recent years.
“The industry has witnessed significant transformation over the past year— from electric mobility growth to new product rollouts and stronger aftersales investments. This year’s awards will capture these milestones and honour the people and organisations driving the progress,” he stated.
He added that the awards are not just a prize-giving ceremony but an opportunity for auto professionals to engage, exchange ideas, and spotlight the innovations shaping transport in Nigeria.
The FRSC Corps Marshal, Shehu Mohammed and the Director-General of the National Automotive Design and Development Council, NADDC, Otunba Oluwe-mimo Joseph Osanipin are among the high-profile dignitaries expected.
Their participation, organisers say, highlights the strategic importance of the event to national road safety, automotive policy, and the future of local vehicle manufacturing.
“Having the leadership of FRSC and NADDC with us reinforces the shared commitment to safer roads, stronger regulations, and the growth of our domestic auto sector,” Kintum added.
Vanguard News
The post Top auto brands, regulators gear up for 2025 Nigeria Auto Awards appeared first on Vanguard News.
The Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun has stated that judges are exempted from President Bola Tinubu’s directive on the withdrawal of police officers attached to Very Important Persons (VIPs), as part of measures to strengthen internal security across the country.
The explanation followed growing anxiety within the judiciary and ensuring that judges continue to enjoy adequate protection while the federal government implements its broader police reform and security realignment strategy.
CJN’s media aide, Tobi Soniyi, who conveyed the clarification, stated that the presidential order was aimed at freeing up police personnel for frontline duties amid rising insecurity, but does not apply to judicial officers.
This follows reports from Taraba State, where the Chief Judge, Justice Joel Agya, raised concerns that police orderlies attached to some judges had been withdrawn without prior notice. Justice Agya warned that such action could expose judges especially those handling sensitive criminal, terrorism, political and corruption cases to serious security risks and potentially undermine judicial independence.
In his reaction, Soniyi said the CJN was not aware of any authorised withdrawal of police personnel attached to judges, stressing that the exemption remains clear.
He added that no similar complaints had been received from other heads of courts across the federation.
Meanwhile, Taraba State Police authorities, denied withdrawing police officers assigned to judges, insisting that security personnel attached to court duties and judges’ residences were still in place, and that the presidential directive only affects personal VIP escorts.
President Tinubu’s directive, issued in late November, mandates the redeployment of police officers from VIP protection to core security operations to tackle kidnapping, banditry and other violent crimes.
The presidency has repeatedly described the policy as non-negotiable, while indicating that alternative security arrangements.
President Bola Tinubu has approved the promotion of his Aide-de-Camp (ADC), Nurudeen Yusuf, to the rank of brigadier-general, a decision that has sparked murmuring and discontent within the Nigerian Army.
In a letter dated 12 December 2025 and addressed to the Chief of Army Staff, Lt.-Gen. Wahid Shaibu, the National Security Adviser, Nuhu Ribadu, conveyed the President’s approval for Mr Yusuf’s elevation.
The promotion has raised eyebrows within military circles because Mr Yusuf was only decorated as a colonel in January this year, making the latest advancement his second within a 12-month period.
Several officers, including some of his coursemates, reportedly expressed frustration over what they described as an unprecedented fast-tracking of his career, with critics accusing the President of favouritism.
“This beggars belief and defies all logic,” an aggrieved senior officer said. “Someone who was just promoted to colonel this year?” Neither the Presidency nor the Nigerian Army has publicly offered an official explanation for Mr Yusuf’s accelerated promotion.
However, a Presidency source, who spoke on condition of anonymity because he was not authorised to discuss the matter, said the President approved the elevation to align Mr Yusuf’s rank with those of other senior security officials attached to the Presidential Villa.
According to the source, the Nigeria Police Force in August promoted the President’s Chief Personal Security Officer, Usman Shugaba, from deputy commissioner of police to commissioner of police.
Similarly, the State Security Services (SSS) recently elevated the President’s Chief Security Officer, Adegboyega Fasasi, to the rank of director. The source explained that the police and SSS ranks are considered equivalent to that of a brigadier-general in the Nigerian Army.
He added that without a corresponding promotion, Mr Yusuf would have remained subordinate in rank to his counterparts within the Villa’s security architecture, a situation he said could undermine esprit de corps among the presidential security team.
Mr Yusuf was appointed ADC to Mr Tinubu on 1 May 2023, about four weeks before the President’s inauguration. He held the rank of lieutenant-colonel at the time.
Related
A fire disaster triggered by sudden gas explosion on Sunday consumed a building of three-bed room flats in Asa Local Government Area of Kwara state.
The incident occurred at about 16:27hrs, at Temidere Community, Reke, Asa Local Government Area, of the state.
According to the spokesman of the state fire service, Hassan Adekunle, it involved a building comprising three-bedroom flats, all of which were affected by the fire following a sudden gas explosion.
Preliminary investigation revealed that the incident was caused by gas leakage, which led to the explosion and subsequent fire outbreak.
Hassan said firefighters promptly engaged the fire and carried out containment operations to prevent further escalation within the community.
Director of the state fire service, Prince Falade John Olumuyiwa, advised residents to exercise strict caution in the use of gas.
He stressed the importance of regular inspection of gas cylinders, hoses, and regulators, urging users to ensure proper ventilation, avoid using faulty or expired gas equipment, and to immediately shut off gas supply when leakage is suspected.
The director emphasized adherence to basic gas safety practices as critical in preventing explosions and loss of property.
By Felix Khanoba
The Federal Government, through the Federal Ministry of Education, has announced a nationwide ban on the admission and transfer of students into Senior Secondary School Three (SS3) in all public and private secondary schools.
A statement signed by Director, Press and Public Relations at the ministry, Boriowo Folasade, on Sunday, said the directive follows growing concerns over the increasing incidence of examination malpractice.
The statement also cited in the use of so-called special centres during external examinations, which undermine the integrity and credibility of Nigeria’s education system as reason for the ban.
According to the Ministry, the policy will take effect from the next academic calendar 2026/27 with admissions and transfers now restricted strictly to Senior Secondary School One (SS1) and Senior Secondary School Two (SS2).
” Admission or transfer into SS 3 will no longer be permitted under any circumstance,” it said.
The ministry explained that the measure is aimed at discouraging last-minute movement of students for examination-related advantages, ensuring proper academic monitoring, and promoting continuity in teaching and learning.
“School proprietors, principals, and administrators nationwide have been directed to comply fully with the policy, as any violation will attract appropriate sanctions in line with existing education regulations and guidelines,” the statement added.