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Makinde campaign council faults Tinubu’s ‘economy recovering from dark tunnel’ claim

The Makinde-Daura Presidential Campaign Organisation (MDPCO) has faulted President Bola Tinubu’s claim that Nigeria’s economy has emerged from the ‘dark tunnel’, citing increasing poverty, with more than 140 million Nigerians, representing 63 per cent of the population, reportedly living in abject poverty.

The organisation said the poverty figure, alongside rising unemployment, food insecurity and the daily closure of businesses, exposed the disconnect between the President’s assessment of the economy and the harsh realities confronting millions of Nigerians.

MDPCO is the campaign organisation of the presidential candidate of the Allied Peoples Movement (APM).

MDPCO, in a reaction on Monday through its Director of Strategic Communications, Mr Richard Ihediwa, described Tinubu’s claim, made in Mecca, Saudi Arabia, as misleading and unsupported by prevailing economic indicators.

It argued that it was disturbing that the President could make such a claim in the Holy Land despite what it alleged to be widening poverty across the country.

The organisation stated that hundreds of businesses were closing daily because of the effects of the administration’s economic policies and rising taxes, while unemployment and food insecurity continued to deepen.

It added that more than 60 million Nigerians were facing acute food insecurity and going to bed hungry, with little hope of relief under the present administration.

MDPCO also accused the government of failing to address the security situation, saying insecurity had restricted citizens’ freedom of movement and undermined farming, trade and other commercial activities.

It went on, ‘Despite being an oil-producing country, fuel price in Nigeria remains unaffordable at between N1,500 and N2,000 per litre in various parts of the country, driving high costs of living, a harsh business environment and eroding the purchasing power of citizens.’

On infrastructure, the organisation said Nigeria’s deficit had reached an estimated $2.3tn, adding that experts projected that approximately $100bn would be required annually over the next 30 years to bridge the gap.

The organisation described Tinubu’s assertion that the economy had emerged from the dark tunnel while the country continued to accumulate debts, putting Nigeria’s total debt at N166.7tn under his administration, as ‘ironic.’

The campaign organisation further accused the President of borrowing recklessly from foreign creditors without verifiable investments in projects and programmes or a clear plan for repayment.

It said Nigerians had expected Tinubu to use his visit to the Holy Ka’abah to seek forgiveness, reflect on his administration’s record and acknowledge the hardship and widespread misery allegedly caused by its policies.

Commenting on Tinubu’s declaration in the Holy Land that Allah gives power and takes it from whom He wills, the organisation said the statement was an answered prayer for Nigerians seeking a change of leadership, urging him to heed what it called divine guidance by withdrawing from the 2027 presidential race and supporting Makinde.

The organisation further stated that Makinde’s proposed Reset Nigeria Agenda offered the country an opportunity to chart a new course through economic opportunities, affordable living, improved security, quality education, accountable governance and national unity.

Court Remands Kano Lawyer Over Alleged Fraud, Fake Receipts

A Kano State High Court has ordered the remand of a lawyer, Barrister Dalhatu Shehu Usman, at the Kurmawa Correctional Centre until November 6, 2026.

The court, presided over by Justice Zuwaira Yusuf, gave the order following his arraignment by the Kano State Public Complaints and Anti-Corruption Commission over alleged fraud, forgery of receipts and failure to appear in court.

During the sitting, defence counsel, Barrister A.A. Sani, challenged the competence of the lawyers prosecuting the case, arguing that they lacked the authority to handle the matter.

He also urged the court to remand his client at the correctional centre instead of returning him to the custody of the anti-corruption commission, where he had spent more than 10 days on the order of the court.

The judge adjourned the matter until Friday, November 6, for a ruling on the preliminary objection challenging the authority of the prosecution team.

Justice Yusuf also ordered that the defendant be remanded at the Kurmawa Correctional Centre pending the next hearing.

Construction boom attracts Kenyan firm

Dar es Salaam. Growing demand for construction materials, driven by investment in housing, commercial properties and hospitality facilities, is attracting foreign businesses to Tanzania, with Kenya-based company entering the Tanzanian market to tap into the expanding opportunities.

The company, which deals in tiles, sanitaryware, taps, kitchen fittings and other home-finishing products, already opened a showroom in Dar es Salaam, where it plans to sell products sourced locally and internationally.

Its entry comes amid increased construction activity in residential, commercial and hospitality properties, creating opportunities for suppliers and domestic manufacturers seeking access to a growing market. Speaking yesterday during the opening of the Tile and Carpet Living in Style showroom, Tanzania Building Agency (TBA) Architectural Section manager Mr Godfrey Mwakabole said rising demand for accommodation, including hotels, guest houses and short-term rentals such as Airbnb, was creating investment opportunities in the construction industry.

He said the relocation of government operations to Dodoma and preparations for the 2027 Africa Cup of Nations (Afcon) had also contributed to investment interest in accommodation facilities and related infrastructure.

Mr Mwakabole said more people were investing in property development, converting residential houses into Airbnb accommodation and building hotels to capitalise on opportunities arising from tourism and international conferences.

He said the growing demand for construction materials was exceeding local production capacity, creating room for additional suppliers while offering local manufacturers opportunities to expand their market reach.

‘Currently, demand for construction materials exceeds local production capacity. Therefore, the entry of the Kenyan company will help complement the efforts of existing suppliers and manufacturers in meeting market demand,’ he said.

‘We are pleased to see many companies gaining confidence in the country and investing in this sector, given the growing demand for housing, residential properties and commercial buildings,’ he said.

Tile and Carpet Living in Style director Mr Chirag Sanghrajka said the company intended to work with Tanzanian manufacturers by giving them an opportunity to sell their products through its showroom.

The arrangement could give local producers access to customers through an established retail outlet, while expanding the range of products available to buyers.

Mr Sanghrajka said the company already worked with manufacturers in other markets, including businesses producing goods under its brand, and was interested in exploring similar partnerships in Tanzania.

He said the company first wanted to understand the local market and customer requirements before considering further investment in production.

‘We need to learn the ropes; we need to crawl before we can start walking,’ he said, adding that establishing manufacturing operations in Tanzania could be considered as the business develops.

‘Once we learn the Tanzanian market and its requirements, we will definitely look into manufacturing,’ he said.

The company has operated for more than 100 years and has a presence in Kenya, Rwanda, Dubai and Zanzibar.

Home bet Marama Tokong has splashing World Surf League debut

John Mark ‘Marama’ Tokong gave the Filipino crowd plenty to cheer about after beating Brazilian World No. 11 Samuel Pupo to advance to Round 2 of the World Surf League (WSL) Championship Tour Philippines Pro at Cloud 9 here Sunday.

Tokong put up 16.60 points on waves of 8.60 and 8.00, while Pupo could only manage 11.00 in their opening-round heat.

Surfing before a big home crowd, Tokong handled the pressure well, making the most of the six-to-eight-foot waves under light conditions.

He admitted that competing in front of his fellow Filipinos was not easy, but he tried not to think too much about the pressure once he got into the water.

‘It’s crazy and amazing. There was a lot of pressure, but I just told myself to relax, keep things simple and enjoy the waves,’ Tokong said.

He could hear his family, friends and supporters cheering from the shore whenever he came out of a wave. For the Filipino surfer, that made the experience even more special.

‘I’m not doing this just for myself, but also for my family, friends, fans and especially the Philippines. Representing my country is very important to me,’ he said.

With one round behind him, Tokong is now looking forward to his next heat, hoping to give the Filipino fans another performance to cheer for.

Surfers who lose in the opening round will still receive US$13,000 (around P830,000), while the champion will collect US$80,000 (approximately P5.1 million).

President to lead investment mission to US in late November amid rising interest

Cyprus government will organise a business mission to the United States in late November, with President Nikos Christodoulides taking part, as interest from US companies in investing on the island increases, the President announced on Monday.

Addressing the annual general assembly of the Association of Large Developments in Nicosia, President Christodoulides said the mission would be organised in cooperation with the US Government and would aim to present the investment opportunities offered by Cyprus.

‘We are seeing particularly increased investment interest from US companies,’ he said, adding that the initiative was part of broader government efforts to attract quality and productive investment, following similar business missions to other countries.

The President also stressed the government’s efforts to improve the business environment and make Cyprus more attractive to international investors. These include simplifying, digitising and speeding up licensing procedures, as well as the operation of a Business Service Centre to support strategic developments. He also pointed to the tax reform that came into force on January 1, 2026, saying it aimed, among other things, to strengthen the competitiveness of Cypriot businesses and create more favourable conditions for investment.

The President said the government was seeking to establish a stable, competitive and transparent institutional framework in which businesses could plan with confidence and invest for the long term. He stressed that growth should be measured not only through economic indicators but also through the quality of jobs created and its contribution to citizens’ everyday lives.

On housing, he announced that 460 homes were being planned on state-owned land in cooperation with the private construction sector, representing an investment of more than pound 70 million. The government’s overall investment in housing policy exceeds pound 300 million, he said, adding that increasing housing supply, making use of public land and providing planning incentives were key to addressing affordability.

President Christodoulides called on the construction and investment sectors to contribute their expertise and capacity to expanding available housing, stressing that cooperation between the public and private sectors was essential for a more productive, competitive and resilient economy.

He also referred to the resilience of the Cypriot economy despite international uncertainty and ongoing challenges, saying the government intended to sustain growth through responsible economic policy, prudent fiscal management and continued reforms. He said attracting investment that creates well-paid jobs and strengthens the added value of the economy remained a central objective.

Addressing the assembly, Cyprus Chamber of Commerce and Industry (CCCI) President Stavros Stavrou said major developments were an integral part of the country’s economic progress, contributing to infrastructure improvements, investment, job creation and the strengthening of Cyprus’ international image as a business and investment destination. He stressed that maintaining a stable, transparent and predictable investment environment, alongside faster implementation of strategic projects, was essential to sustaining investor interest despite international uncertainty.

Association of Large Developments President Andreas Demetriades called for a review of the framework governing strategic investments, noting that only one application had so far been announced as approved under the legislation introduced in 2023, with the fast-track licensing procedure becoming operational in late 2024. He said requirements for securing at least 50% of project financing at an early stage, before all essential permits have been obtained, as well as limited flexibility for investors, were discouraging the use of the framework. He called for a genuine one-stop shop for strategic investments and closer consultation with investors to remove practical obstacles.

Demetriades also urged the government to assess the impact of the tax reform on investment and business activity, while highlighting the need to address housing shortages, high energy costs and delays affecting major tourism and development projects. He called for integrated tourist villages to be recognised as strategic developments and for outstanding issues holding up projects, including golf courses, to be resolved. The Association’s 16 members manage developments worth more than pound 8 billion, including marinas, casinos, golf courses, universities, medical centres, tourism complexes and technology and research parks, he said.

BIZ BUZZ: Maharlika-NGCP deal fizzles out

The deal earlier struck by sovereign wealth fund Maharlika Investment Corp. to buy into National Grid Corporation of the Philippines (NGCP), the country’s privatized electricity superhighway, hasn’t been consummated more than a year after document signing.

And most likely, President Marcos will finish his term without the state getting a foothold in this much-coveted energy infrastructure.

‘They didn’t come back to us. Pataas ng pataas presyo (Share prices have been rising) but they didn’t come back anymore,’ said Henry Sy Jr., chair of NGCP parent firm Synergy Grid and Development Phils. Inc.

When Maharlika signed the agreement to acquire 20 percent of NGCP-purportedly to give the government greater influence in a critical infrastructure where a Chinese entity is a part-owner-Synergy (under the ticker GSP) was trading at just P10.98 per share at the stock market. To date, its share price has surged to P25.50 per share, which means the value of the stake committed to the government would have more than doubled in value.

But with the Marcos administration getting preoccupied with so many other concerns since then, including the flood-control corruption scandal and the political headwinds from the arrest of former President Rodrigo Duterte and the impeachment trial of Vice President Sara Duterte, it seems that closing the NGCP deal has now become the least of Malacanang’s priorities.

The deal would have been the crown jewel of Maharlika, which was incepted in 2023 and soft-launched during Mr. Marcos’ trip to Davos, Switzerland on the sidelines of the World Economic Forum.

After all, it’s a solid, high dividend-yielding infrastructure that would have set the tone for Maharlika’s investing activities.

From what we hear, the last time that Maharlika officials had spoken to NGCP counterparts was last year.

Like a groom ghosting a bride who was reluctant in the first place? It sounds like the deal is dead in the water. -Doris Dumlao-Abadilla

No done deal yet for VistaREIT

VistaREIT Inc. has no new asset deal to put in its shopping bag-at least, no definitive one.

The Villar-led real estate investment trust responded to reports concerning Vista Land and Lifescapes Inc.’s property plans, saying there was no definitive transaction involving the transfer or infusion of such assets into VistaREIT.

In a Thursday disclosure, the company said it was ‘not in a position to comment’ on reported transfers of properties owned by Vista Land or its subsidiaries to other parties.

‘Additionally, there is no definitive transaction involving the transfer or infusion of such assets into VREIT. The company will make the appropriate disclosures to the exchange in accordance with applicable disclosure requirements,’ the company said.

The clarification followed reports about a possible sale of Vista Mall Santa Rosa for P8 billion and potential transfers of commercial properties into the listed REIT.

VistaREIT issued its response after the Philippine Stock Exchange sought confirmation of the reported information.

The company said it would make the appropriate disclosures to the exchange in accordance with applicable requirements.

For investors awaiting additions to VistaREIT’s property basket, the operative word remains ‘definitive.’ -Emmanuel John B. Abris

Acevedo fills Virata seat at RCBC

Rizal Commercial Banking Corp. (RCBC) named a successor to the late Cesar Virata, filling a post the former prime minister had held for more than a quarter of a century.

Retired RCBC president and CEO Eugene Acevedo was appointed vice chair of the bank, following approval by its board on Oct. 26. His appointment took effect the same day.

Acevedo, 62, already knows his way around the Yuchengco-led bank’s boardroom, having served as its director since July 2019. He retired as president and CEO of RCBC after a six-year tenure in 2025, and was succeeded by Reginaldo Cariaso.

Acevedo’s banking career spans 35 years, with senior positions at Union Bank of the Philippines, CitySavings Bank, Philippine National Bank and Citibank. His assignments have taken him to the Philippines, Singapore and Hong Kong.

The appointment follows Virata’s death on Oct. 2.

For Acevedo, the seat comes with a considerable legacy. -Emmanuel John B. Abris

Golden arrows, familiar targets

Some companies collect trophies. This batch is counting arrows-and keeping track of winning streaks.

PNB, Ayala Corp., DandL Industries, Century Pacific Food, Shakey’s Pizza Asia Ventures and three DMCI group companies earned recognition at the Institute of Corporate Directors’ Golden Arrow Awards on Oct. 23.

The awards use the Asean Corporate Governance Scorecard to assess shareholder rights, transparency, stakeholder engagement and board responsibilities.

PNB received four Golden Arrows for the fifth consecutive year.

Ayala, meanwhile, secured five Golden Arrows, the highest distinction, for the second straight year.

Nine other group companies also received awards, including BPI and Globe Telecom, which each earned five arrows.

Globe added a bigger milestone: five consecutive years of five-arrow recognition landed it in the Golden Arrow Hall of Fame.

DandL had its own streak to protect. The food ingredients and specialty chemicals manufacturer received three Golden Arrows for the second straight year, extending its run of governance recognition to seven consecutive years.

Over at Century Pacific Group, both Century Pacific Food and Shakey’s moved up to three Golden Arrows each from two last year.

Century Pacific Food, whose brands include Century Tuna and Argentina, cited board oversight of investments in dairy, coconut and pet food.

The DMCI contingent also brought home a haul: two arrows for DMCI Holdings, three for Semirara Mining and Power Corp. and two for Concreat Holdings Philippines. For Concreat, this marked its sixth overall governance recognition.

There’s plenty of hardware for the display shelves. The next scorecard will show who keeps their aim. -Emmanuel John B. Abris

Hogs in the limelight

As local hog raisers rallied to protest an influx of pork imports, the Department of Agriculture (DA) echoed an emotional letter of support to local producers, who have been bleeding from what they deem as ‘unfair competition’ from imports.

‘Hindi makatarungang malugi ang ating mga producer dahil sa hindi patas na kompetisyon (It is unfair for our producers to suffer losses because of unfair competition),’ Agriculture Secretary Francisco Tiu Laurel Jr. said in an open letter read by DA Undersecretary Asis Perez during the rally.

For the Samahang Industriya ng Agrikultura (Sinag), now is the right time to restore pork tariffs, stressing that the industry is running out of time.

‘Every day of delay gives imported pork an unfair price advantage, further depresses local farm-gate prices, and pushes Filipino hog raisers and the entire hog industry ecosystem closer to collapse,’ Sinag executive director Jayson Cainglet said.

‘The clock is ticking. Our hog raisers are losing money. The industry cannot wait,’ said Cainglet, noting that the ripple effect could also gnaw on feed suppliers, veterinary drugs and animal health industries. -Jordeene B. Lagare

New boss, same BPI playbook

Rising inflation and borrowing costs may be making life harder for borrowers, but Bank of the Philippine Islands (BPI) is not retreating from retail lending.

And that commitment is expected to survive the bank’s upcoming changing of the guard.

BPI may tighten its credit standards and step up collection efforts, but it has no plans to deliberately scale back its exposure to the higher yielding but riskier consumer segment.

‘We believe that the consumer is the growth area of this country,’ BPI president and CEO Jose Teodoro ‘TG’ Limcaoco told reporters on Monday on the sidelines of an event hosted by BPI Wealth.

‘An economy does not always go down. You go through cycles,’ he said. ‘And the consumer is powering this economy.’

That thinking is expected to carry over to BPI’s next chief, Maria Cristina ‘Ginbee’ Go, who will take over from Limcaoco next year.

Limcaoco, who has led the bank since 2021, acknowledged that Go would have her own way of running things, but he is betting she will keep the consumer banking business going strong.

‘And I don’t expect her to lead with my style. But I think she’ll do very well,’ he said. ‘I think she will continue to power the consumer banking.’ -Ian Nicolas P. Cigaral

Good news from new SSS chief

It’s official: Social Security System (SSS) members can keep their paychecks intact, for now.

At least that’s what newly appointed Social Security System (SSS) president and CEO Victor Limlingan is standing By:no ‘insensitive’ contribution hike on his watch.

To recall, SSS members were already hit with a contribution rate increase to 15 percent last year.

‘I have no plans of asking our lawmakers to increase contributions. Life is hard. A lot of our countrymen are barely earning enough to survive,’ Limlingan said in his first media briefing since his appointment last week.

‘There’s the war in Iran and there’s the Super El Niño. The central bank governor himself said that he expects inflation to be high. So, it’s very insensitive of us to try and increase contributions,’ he added.

For now, Limlingan is betting on SSS’ investments to keep the pension fund afloat as it heads toward its projected actuarial life until 2049, with its investment portfolio now at around P1.3 trillion.

As for another contribution hike? That can wait.

Limlingan said the SSS could revisit the issue in 2028 or 2030, hopefully when workers have a little more breathing room. -Nyah Genelle C. De Leon

Manila-Singapore express

The Philippine Stock Exchange (PSE) is looking to give local companies and investors a wider runway-with Singapore as the next stop.

The PSE and Singapore Exchange (SGX) have signed their most extensive collaboration agreement yet, setting the stage for possible depositary receipts, cross-listings and easier access between the two markets.

Also being explored are exchange-traded funds based on themes shared by both countries, derivatives and other products that could expand investment choices.

The exchanges will work with regulators and market participants to clear the operational and regulatory hurdles.

For companies, the partnership could open another route to capital and regional investors.

For investors, it could provide more ways to participate in the growth of both markets.

PSE president Ramon Monzon said the initiative sought to attract more investors and deepen market liquidity.

SGX Group CEO Loh Boon Chye, meanwhile, said stronger market links could make Southeast Asia’s growth story more accessible globally.

The deal was signed on the sidelines of the Asean Capital Markets Forum, as regional regulators push for more connected capital markets.

CAN, JNI back BBYDI initiative to promote girls’ education in Kaduna

The Christian Association of Nigeria (CAN) and Jama’atu Nasril Islam (JNI) in Kaduna have pledged to mobilise their congregations to promote girls’ education and support the return of out-of-school girls to classrooms.

The commitment is part of the Faith and Tradition for Girls’ Education Project, an initiative of Brain Builders Youth Development Initiative (BBYDI), supported by the Malala Fund.

The project is piloting the engagement of religious and traditional leaders as advocates for girls’ enrolment, retention and school completion.

It seeks to address barriers including early marriage, pregnancy-related stigma, financial pressures and cultural attitudes that discourage families from investing in girls’ education.

Participating leaders will use sermons, congregational meetings and community engagements to encourage parents to keep girls in school and support those whose education has been interrupted.

Reverend Maaji Caleb Bawa, chairman of CAN in Kaduna, said religious leaders have a responsibility to translate their support for girls’ education into practical action.

‘Every girl deserves the opportunity to learn, develop her abilities and build a future. As Christian leaders, we have a responsibility to turn that conviction into practical support,’ he said.

‘We welcome BBYDI’s pilot bringing faith and traditional leaders together to champion girls’ education. We will encourage our churches to engage parents, challenge attitudes that keep girls out of school and support girls seeking to continue their education, including young mothers.’

Abdullahi Yahaya, the JNI Chairman for Zaria Local Government, who represented the JNI Chairman for Kaduna State, said the initiative aligns with the importance Islam places on seeking knowledge.

‘Seeking knowledge is an important part of our faith, and our daughters must have the opportunity to learn and fulfil their potential,’ he said.

‘Through this initiative with BBYDI, we will encourage imams and other religious leaders to use their sermons and community engagements to speak with families about keeping girls in school. Where a girl’s education has been interrupted by marriage, pregnancy or hardship, our communities should help her return to learning.’

BBYDI is developing sermon guides and advocacy materials with faith leaders, drawing on Islamic and Christian teachings about education.

The materials will address child marriage and encourage families and communities to support pregnant and married girls who wish to return to school.

The organisation is also engaging emirate councils and other traditional institutions to secure their participation in the campaign.

The engagements are expected to culminate in the inauguration of the Kaduna Faith and Traditional Leaders Coalition for Girls’ Education, which will coordinate advocacy across participating communities.

BBYDI has also developed a learning network through which participating leaders will exchange experiences, receive updated advocacy materials and monitor progress in addressing barriers to girls’ schooling.

Alongside community mobilisation, the organisation will advocate a state-level school re-entry protocol to guide the identification, support and re-enrolment of girls whose education has been interrupted by pregnancy, marriage or other circumstances.

It is also seeking a dedicated allocation in the Kaduna state budget for girls’ education, including funding for re-entry programmes, facilities that meet girls’ needs and training for school-based management committees.

NAIMOS Fights ‘Galamseyers’ On Offin River

The National Anti-Illegal Mining Operations Secretariat (NAIMOS) has embarked on an operation to remove chanfang machines from the River Offin and disrupt illegal mining activities, also called ‘galamsey’, that directly affect the river and its banks.

The operation, codenamed ‘Water Shield’, was supported by the Ghana Navy Special Boat Squadron (SBS) and other security elements.

During the latest riverine patrol from Bedaabour to Beposo, the task force raided six illegal mining sites near the riverbanks and destroyed equipment found there.

Four floating chanfang platforms operating directly on the river were also destroyed.

The patrol team observed approximately 45 additional floating chanfang platforms abandoned along the route.

The chanfang machines, pumps, and other associated equipment were removed from the platforms before the task force arrived, suggesting operators vacated the river ahead of the sustained security presence.

According to a statement issued by NAIMOS, within just four days of sustained operations, illegal miners appear to be withdrawing equipment from sections of the River Offin.

NAIMOS assessed that awareness of the riverine force’s continued presence, particularly the SBS patrol capability, may be prompting illegal miners to abandon platforms before enforcement teams reach them.

‘The SBS plays a key role by providing the riverine capability needed to reach mining platforms and other locations that are difficult to access from land,’ the statement noted.

It added that the objective is to systematically clear floating chanfang platforms from the river, deny illegal miners freedom to operate on the water, and prevent them from simply relocating to other sections when pressure is applied.

The statement indicated that Operation Water Shield will also target mining sites along the riverbanks whose activities contribute to pollution, sedimentation, and degradation of the River Offin.

NAIMOS emphasised that patrols will continue, abandoned platforms will be cleared, and illegal mining sites affecting the river will remain targets for enforcement action.

‘NAIMOS remains committed to restoring effective protection of the River Offin and ensuring that areas cleared during the operation are not reoccupied by illegal miners,’ the statement pointed out.

How Bureaucracy Leaves Power Equipment Rotting In Ports

Recent revelations that more than 300 containers of critical electricity equipment imported by the Federal Government remained stranded at Nigerian ports for years have exposed the administrative bottlenecks and institutional inefficiencies undermining efforts to improve electricity supply across the country, experts have said.

The equipment, some of which have reportedly been trapped in the ports for close to two decades, were procured under various government-funded and development-partner-supported electricity projects, including the National Integrated Power Project (NIPP), Transmission Company of Nigeria (TCN) donor-funded projects and the Presidential Power Initiative (PPI).

Despite their importance to the country’s electricity infrastructure, the equipment have been unable to reach their intended destinations because of unresolved import documentation, disagreements over duty exemptions, mounting shipping demurrage, port charges and bureaucratic delays involving government agencies.

President Bola Tinubu has consequently directed the immediate clearance of the stranded containers, a move that has generated mixed reactions among stakeholders in the power sector.

While some experts have welcomed the directive as a demonstration of political will to address longstanding challenges in the electricity industry, others believe the development exposes years of institutional failures that cannot be resolved through presidential orders alone.

What power minister said

Minister of Power, Olasunkanmi Joseph Tegbe, who disclosed the presidential directive after the Federal Executive Council (FEC) meeting at the State House, expressed dismay that equipment meant to strengthen the country’s electricity infrastructure could remain abandoned at the ports for such an extended period.

Tegbe said: ‘Those containers are not empty. It is appalling to see that we find ourselves in such situations.

‘They were imported by the Federal Government through the Ministry of Power/Transmission Company of Nigeria (TCN) under various power projects over the years.’

However, industry experts said the circumstances surrounding the stranded equipment reveal structural weaknesses in government procurement, importation and project implementation processes.

Nigeria has an installed electricity generation capacity of approximately 13,014.40 MW to 13,625 MW, while available or generated power fluctuates between 4,000 MW and 5,403 MW.

This was largely attributed to ageing or inadequate infrastructure to support transmission and power distribution.

It would be recalled that the Niger Delta Power Holding Company Limited (NDPHC) recently recovered abandoned power equipment worth billions of naira from various seaports across the country, following an intervention by the Nigerian Ports Authority (NPA).

The Managing Director/Chief Executive Officer of NDPHC, Jennifer Adighije, said during a visit to the NPA in August that the released items were in 110 abandoned containers and 216 packages.

Some experts called for a critical evaluation of the equipment in order to retrieve those that are still useful.

A former Chief Technical Officer, Presidential Power Initiative (PPI) and MD/CEO, Idfon Power Engineering Consultants (iPEC) Limited, Engr. Idowu Oyebanjo, said the situation arose when the projects were awarded to contractors at low cost without demurrage.

According to him, some of the contracts are structured on Cost, Insurance and Freight (CIF) Lagos terms, meaning the equipment are delivered to the Lagos port without sufficient arrangements to ensure their prompt clearance and transportation to the project sites.

He explained that the difficulties begin even before the containers arrive in Nigeria, as critical import documentation and duty exemption approvals are often not completed before shipment.

Oyebanjo stated that upon the arrival of the containers and notification sent to the shipping agents, the agents approach TCN to obtain an Import Duty Exemption Certificate (IDEC).

However, TCN would reportedly inform them that the relevant file was with the Ministry of Power, while the ministry, in turn, would say it was with the Ministry of Finance.

He added that the Ministry of Finance often views the imported equipment as potential revenue for the government and consequently seeks to impose a five per cent import duty.

He noted that such equipment should ordinarily benefit from the relevant government exemptions, considering that they were imported specifically for public electricity infrastructure projects.

According to him, some of the consignments arrive without properly processed Form M, the mandatory import declaration form; Pre-Arrival Assessment Report (PAAR); Standards Organisation of Nigeria Conformity Assessment Programme (SONCAP) certification; and Import Duty Exemption Certificate (IDEC).

These omissions, he said, leave the equipment exposed to additional clearance requirements and charges.

Oyebanjo said the situation becomes more complicated after the containers spend 90 days at the ports without clearance.

He disclosed that a particular batch of 22 containers accumulated liabilities of N483.88m because of the conflicting classifications and the continued accumulation of shipping charges.

Providing details of the contents of the containers, Oyebanjo said they include critical electricity infrastructure approved by the Federal Executive Council for various transmission projects.

Among the equipment are 300 Mega Volt-Ampere (MVA), 330/132/33 kilovolt (kV) transformers intended for Ikeja West, Gas Insulated Switchgear (GIS) spares, 33kV double-circuit lines for Katampe and materials for the proposed Super Grid.

He said some of the equipment had remained in the ports for about 20 years.

Oyebanjo alleged that the prolonged delays had also created opportunities for an auction racket, claiming that some overtime cargo were auctioned to cronies at about 10 per cent of their value before being resold to TCN.

‘How to avoid recurrence’

To prevent a recurrence, he recommended the establishment of a dedicated TCN desk at the Nigeria Customs Service, rather than leaving the process entirely within the purview of the Ministry of Finance.

Such a desk, he said, should operate with pre-approved duty waivers to ensure that documentation and clearance arrangements are completed before the equipment arrive in the country.

He also called for a change in the procurement structure for future electricity projects, recommending that all new contracts adopt Delivered Duty Paid (DDP) arrangements, under which contractors would be responsible for delivering equipment to the project sites rather than simply bringing them to Lagos ports under CIF terms.

On his part, a power expert, Engr. Ibrahim Sulu said since 2016, presidential approvals have cleared stranded power equipment again and again, only for it to pile up.

He said the country needs a standing rule that does not depend on whoever is minister, adding that all contracts are Delivered Duty Paid (DDP) to the project site, with the contractor bearing demurrage.

A power stakeholder, Duru Oguzie, expressed dismay over the prolonged abandonment of the equipment, describing the situation as evidence of a lack of patriotism among some Nigerians entrusted with managing public resources.

He criticised the Nigeria Customs Service for allowing the equipment to remain stranded for years when they could have been released earlier for use in the country’s electricity infrastructure.

He described the development as a show of shame, arguing that the equipment had lost much of its potential value to the country because of the prolonged delays.

Oguzie urged the Federal Government to maintain zero revenue charges on the stranded electricity equipment to ensure their immediate release.

He argued that the government should prioritise the national interest and the potential benefits of deploying the equipment rather than focusing on revenue collection from assets already procured with public funds or development financing.

However, another stakeholder, Saka Mohammad, questioned the political narrative surrounding the presidential directive.

He said the applause generated by the presidential directive was undeserved because the clearance of the equipment should be viewed within the broader context of the government’s responsibility to address the longstanding weaknesses in the power sector.

He maintained that the Federal Government should take more proactive measures to ensure that the problems responsible for the abandonment of critical electricity equipment do not recur.

However, energy expert Rasheed Adeleke described the clearance of the stranded equipment as a positive development that could support improvements in the electricity sector.

He lamented that the equipment had remained trapped at the ports for almost two decades, saying the situation exposed the persistent institutional failures and unnecessary bureaucratic hurdles slowing the development of Nigeria’s power infrastructure.

Beyond the stranded equipment, concerns have also been raised about the direction of the country’s transmission infrastructure development and the feasibility of some newly announced projects.

A competent source with knowledge of the industry said, ‘Now, as elections approach, the President has promised Nigerians that he will fix the power sector and end estimated billing. He even challenged Nigerians not to vote for him if he fails to deliver on these two promises.

‘They have now introduced the East-West transmission project without publishing the necessary details, technical studies or implementation plan. Yet, they claim it will be completed in two years and add 14,000MW to the national grid. This is being presented to Nigerians without adequately explaining the technical and commercial realities.’

The source added, ‘Electricity is not generated simply by making political promises. It requires properly coordinated investments in generation, transmission and distribution, supported by credible technical studies, financing and implementation capacity.

‘Without addressing these fundamental issues, the promise of adding 14,000MW in two years raises serious questions about the feasibility and credibility of the project.’

Court fixes date for judgment in Tukur Mamu’s terrorism case

The Federal High Court in Abuja on Monday, slated for January 27, 2027, for judgment in a charge filed by the Federal Government against alleged terrorists’ negotiator, Tukur Mamu, during the Abuja-Kaduna train attack in 2022.

The trial judge, Justice Mohammed Umar, fixed the date after the counsel to the Federal Government, David Kaswe, and Mamu’s counsel, Johnson Usman, SAN, adopted their final written addresses and presented their arguments for and against the case.

Mamu, who was arrested on September 7, 2022, by the Egyptian security officials at the Cairo International Airport, was earlier arraigned on a 10-count charge bordering on terrorism financing.

However, the prosecution amended the counts by bringing in more offences, including unlawful possession of firearms without a valid licence and money laundering charges.

When the case was called on Monday, Usman informed the court that the case was scheduled for adoption of parties’ final written addresses, adding that the defendant’s final written address was filed on July 23.

‘Our reply on points of law is dated October 30 and filed same day. We adopt these two addrseses and we humbly urge this honourable court to graciously acquit and discharge the defendant on all the counts preferred against him by Federal Government as same, having not been proven in any manner,’ he prayed.

Usman argued that though the defence team had consistently demanded the licence of the rifle allegedly recovered from Mamu’s residence, the lawyer said the prosecution had failed to produce the licence in court.

He said even though the prosecution took custody of the arms and the licence, their failure to produce the licence in court had raised serious issues of doubt and therefore urged the court to resolve the issue in favour of his client.

But Kaswe, as assistant director, who appeared for the Attorney-General of the Federation (AGF) on behalf of the Federal Government, disagreed with Usman’s submission.

The prosecution lawyer recalled that the licence and the rifle had already been tendered before the court, saying, ‘My Lord, the record of this court will show that we have tendered the licence together with the arms on the day the PW-5, an exhibit keeper, was led on evidence’.

Kaswe reminded that after the prosecution applied for a safe-keep of the rifle and other exhibits, the court granted their request.

‘We respectfully adopt our written address as our oral submission and argument in prove of the case against the defendant and we urge my lord to agree with us that we have discharged the burden of proof placed before us and to convict the defendant as charged,’ he prayed the court.

After listening to the submissions of the lawyers, Justice Umar fixed January 27, 2027 for judgment.