News
Darkness looms in Nigeria as GenCos threaten shutdown over unpaid N4tn debt
There is looming darkness in Nigeria as power generation companies threaten a showdown.
This is as unpaid debts from the federal government and other market operators surged to over N4 trillion.
Chairman of the Boardof Trustees of the GenCos, Rtd. Colonel Sani Bello, made threats known to journalists in Abuja on Monday.
GenCos lamented that the mounting liabilities were crippling their ability to operate and threatening a total shutdown of electricity generation in Nigeria.
“The power generated by GenCos has continued to be consumed in full without corresponding payment.
“This situation has dire consequences for the GenCos and, by extension, the entire power value chain,” he said.
Of the N4tn owed, N2tn is for electricity generated in 2024, while N1.9tn represents legacy debts.
GenCos noted that the 2025 national budget’s N900 billion allocation for the power sector is grossly inadequate to address those arrears and sustain future payments.
Bello described the situation as “a clear departure from existing terms of the Power Purchase Agreement,” adding that under current conditions, GenCos only receive about 9–11 ppercent of their invoices, while regulatory bodies and other service providers are paid in full.
The GenCos also highlight the sharp decline in collection rates— below 30 percent in 2024— which they say has worsened the liquidity crisis.
“The crises from cash liquidity are on the top burner and have reduced GenCos’ ability to continue to perform their obligations,” he said.
Further compounding the issue are operational costs denominated in U.S. dollars and limited access to forex.
“The importance of a specialised window or stable dollar allocation option for the GenCos cannot be overemphasised,” Bello said.
GenCos added that they were demanding urgent government action, including full settlement of outstanding invoices, reprioritization of the waterfall payment structure, and guarantees backed by institutions like the World Bank and AfDB.
“There is a need for a coordinated approach by all stakeholders to address the liquidity issue realistically and sustainably. This request requires urgent attention,” he added.
The Minister of Power, Adebayo Adelabu, has yet to respond to the matter as of the time of filing this report.
News
US military strikes in Nigeria killed 155 Lakurawa terrorists -Report
Dando Sibu, a key Lakurawa commander, is reported to have survived the attack because he left the location less than five minutes before the second missile was fired.
Military strikes conducted by the US in December 2025 killed 155 Lakurawa terrorists in Sokoro, a report by The New Humanitarian has claimed.
The US focus was Lakurawa though the strikes didn’t touch other jihadist groups including Boko Haram, as well as the al-Qaeda-linked Ansaru.
The publication also claimed that the attacks left 200 additional Lakurawa fighters missing in the week following the operation.
The strikes, carried out in collaboration with Nigerian authorities, were believed to have involved Tomahawk missiles launched from a US destroyer positioned in the Gulf of Guinea.
The missiles targeted three districts in Sokoto State: Isa, Tangaza, and Tambuwal, though only Tangaza is widely recognised as a core area of Lakurawa.
It is believed that Tambuwal is not generally associated with organised armed violence; while Isa is a bandit stronghold largely controlled by Bello Turji.
Although details of the strike on Isa remain unclear, Turji is widely believed to have survived the attack.
A Lakurawa camp in Tangaza, however, reportedly suffered significant losses.
The New Humanitarian reports that there were two missile hits.
The first reportedly killed around 30 fighters. As surviving members converged to assess the damage and assist the wounded, a second missile struck, killing those who had gathered.
In total, an estimated 155 Lakurawa were killed, including 19 who were initially injured but later succumbed to their wounds.
Dando Sibu, a key Lakurawa commander, is reported to have survived the attack because he left the location less than five minutes before the second missile was fired.
However, in the week following the strikes, about 200 Lakurawa fighters were reported missing. The group was also said to have lost nearly half of its cattle, which is a major source of its revenue.
(The Sun)
News
Curfew, restriction for Akran of Badagry’s burial rites
Residents said the rites would affect social and commercial activities around the palace and may force many residents especially those working outside Badagry to return home early.
Following the death of the 89-year-old monarch, De Wheno Aholu Menu-Toyi I, the Akran of Badagry., restrictions have been imposed on vehicular movements around the palace vicinity with some sections of the road leading to the place barricaded.
Commuters were said to be directed to take alternative routes.
Sources said the traditional worshippers have started observing rites necessitated by the demise of the monarch.
Security and palace officials were seen restricting movement in the immediate vicinity.
Residents said the rites would affect social and commercial activities around the palace and may force many residents especially those working outside Badagry to return home early.
News
Akran of Badagry is dead, aged 89
The demise of the monarch marks the end of his 48-year reign on the throne, making him one of the longest-serving traditional rulers in Lagos State.
Photo: Akran of Badagry, De Wheno Aholu Menu-Toyi
The traditional ruler of the Badagry local government area in Lagos State, the Akran of Badagry, De Wheno Aholu Menu-Toyi, is dead, aged 89.
The demise of the monarch marks the end of his 48-year reign on the throne, making him one of the longest-serving traditional rulers in Lagos State.
According to the palace, the Akran was pronounced dead by medical experts, after a brief illness, and the traditional rites for his burial have gradually commenced.
Residents of Badagry, who are currently mourning the loss of their revered monarch, described his death as a heavy blow, noting that the town has lost not just a king but a father figure whose wisdom, counsel and presence brought reassurance in moments of uncertainty.
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