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Peter Obi queries utilisation of $3.23bn Power Sector Fund due to National grid collapses

Instead of making significant progress, our recurrent occurrences of grid collapse have continued to characterize our power sector.

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” One then wonders where all the funds borrowed for the power sector have gone into.”

That’s Peter Obi, reacting to the incessant national grid collapses.

Obi, on his  X page tonight,  said: ” I have just read the reports of the collapse of our national grid, just 11 days into the new year. Most of last year, we faced recurrent national grid collapses.

That occurred about 12 times in the year. The untold setback and hardship it brought on households and businesses was immeasurable.

Further reports showed that Nigeria has borrowed over $3.23 billion in the last four years to fix its electricity problems, and yet the country cannot  produce more than about 4,500 megawatts of power for the people.

Instead of making significant progress, our recurrent occurrences of grid collapse have continued to characterize our power sector.

The lack of sincere commitment by us, the leaders, to the true development of the nation, followed by the widespread corruption eating through every sector of our national existence, has continued to drive retrogression and backwardness in our nation.

This is a new year, and again, I will appeal to the government to make it a fresh start by building on the lessons of yesteryear to now improve every aspect of the nation, including the power sector, without which households and small businesses will continue to struggle under immeasurable economic burdens.”

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FG launches new digital postcodes

The code is designed to provide a precise, GIS-enabled reference for identifying locations.

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• Image credit: NIPOST

The Federal Government has launched the National Digital Alphanumeric Postcode System, urging Nigerians to find and begin using their postcodes.

The National Digital Alphanumeric Postcode, operated by the Nigerian Postal Service, gives every addressable building a unique 11-character code — the code is designed to provide a precise, GIS-enabled reference for identifying locations.system. Easier to find, share and use.

The Minister of Communications, Innovation and Digital Economy, Bosun Tijani announced the launch in a post on X on Thursday.

Tijani described the system as a step towards making locations across the country easier to identify and connecting people and businesses to services and opportunities.

Tijani said the system could help businesses reach customers beyond their immediate neighbourhoods, enable families to provide accurate locations during emergencies and help government agencies reach communities with essential services.

The minister encouraged Nigerians to search for their postcodes through the official Digital Postcode website, postcode.gov.ng, and share them with family members, friends and businesses.

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Nigeria @ 66: President Tinubu says next phase of reforms’ll cut cost of living

“Our reforms did not create the weaknesses in our economy. They confronted them,” he said, while warning against attempts to reverse the policies and return to what he described as the “abuse of addictive subsidies”.

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President Bola Tinubu has declared that the next phase of his administration’s reform will be focused on reducing the cost of living, creating jobs and ensuring that the benefits of economic growth were widely shared.

President Tinubu gave the assurance in his Independence Day address to mark Nigeria’s 66th anniversary, titled “From Reform to Prosperity”, in which he defended the economic policies of his administration and urged Nigerians to stay the course.

Tinubu said the reforms undertaken since his assumption of office had corrected the country’s economic direction, describing them as painful but necessary treatment for longstanding structural problems.

Using a cancer patient as an analogy, the President said Nigeria had for too long treated the symptoms of its economic problems rather than confronting their underlying causes.

“By 2023, poverty was rising, and hope was nearly gone. The country’s situation was darker than ever. We had no choice but to act,” he said.

Tinubu said previous administrations had chosen “morphine” by sustaining inefficient arrangements and postponing difficult decisions, while his administration chose to “excise the cancer”.

He acknowledged that the reforms had produced painful “side effects”, but argued that the hardship should not be confused with the underlying economic problems they were designed to address.

“Our reforms did not create the weaknesses in our economy. They confronted them,” he said, while warning against attempts to reverse the policies and return to what he described as the “abuse of addictive subsidies”.

The President’s speech came as some stakeholders and analysts regretted that, despite various reforms embarked upon by successive Federal Governments, the country was yet to come out of the woods economically and socially.

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Atiku Demands Release of 5 Arrested Over ‘Tinubu Must Go’ T-Shirts

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Former Vice President Atiku Abubakar has demanded the immediate release of five men arrested in Borno State for wearing T-shirts bearing the slogan “Tinubu Must Go.”

In a statement issued on Wednesday, the African Democratic Congress (ADC) presidential candidate condemned the arrests, describing the slogan as a legitimate political expression rather than a crime. He argued that wearing a T-shirt with a political message should not lead to detention in a democracy.

The five men — identified as Baba Aji Gremami, Mustapha Abba Yemen, Abacha Mohammed Ali, Adam Umar Gubio and Abdulhamid Mohammed — were reportedly arrested by the Borno State Police Command in Maiduguri and charged with offences including criminal conspiracy and inciting disturbance.

Atiku recalled that President Bola Tinubu had previously protested against the fuel pricing policies of the Goodluck Jonathan administration. He insisted that Nigerians must equally be free to express dissatisfaction with current government policies.

“‘Tinubu Must Go’ is a demand for political change. It is not a weapon, a threat or a crime,” Atiku said. “Tinubu was free to tell Jonathan that his policies were hurting Nigerians. Nigerians must be free to tell Tinubu that his policies are hurting them. Release these five citizens now.”

He called on the authorities to disclose the detainees’ whereabouts, grant them access to their families and lawyers, and free them if the political slogan was the sole basis for their arrest.

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