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Nigeria’s solid minerals sector has entered a new era of expansion as President Bola Ahmed Tinubu announced a ?1 trillion investment package-the largest in the nation’s history-to position mining as a cornerstone of the country’s economic diversification strategy.

Delivering the keynote at the 10th Nigeria Mining Week 2025 in Abuja, President Tinubu said the fund, drawn from a ?4.5 trillion increase in the 2025 national budget, will finance geoscientific exploration, detailed geological surveys, and critical infrastructure across mineral-rich regions to boost local value addition.

Represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, the President said ‘This is the single largest investment ever made in Nigeria’s mining industry,’ Tinubu declared. ‘We are determined to turn the wealth beneath our feet into prosperity in our hands.’

According to him, the sector’s revenue has jumped from ?6 billion in 2023 to ?38 billion in 2024, representing a sixfold increase attributed to improved policy coordination, oversight, and transparency.

‘We must never again allow the fate of our economy to rest on one resource,’ the President added. ‘Mining must now stand beside oil as a national growth pillar.’

Alake: Courage, Not Policy, Will Drive Growth

Dele Alake, minister of Solid Minerals Development, described solid minerals as Nigeria’s next major job-creating sector, stressing that leadership courage-not a lack of policy-has been the missing link in driving sectoral progress.

‘What we lack is not policy but courageous minds like President Tinubu’s to implement them,’ Alake said.

He noted that the Ministry under his watch has recorded 4.6% growth in sector revenue, earning recognition as one of the most transparent institutions in government.

‘Business is no longer as usual. Policy implementation must now be taken seriously if we want real growth. Local value chains must be developed, and our natural assets treated as national treasures,’ he stated, pledging that the Ministry would continue pushing until mining becomes the ‘economic pilot’ of the nation.

Steel to Anchor Industrial Revival

Prince Shuaibu Abubakar Audu, minister of Steel Development, reaffirmed that the revival of Nigeria’s steel sector is central to President Tinubu’s broader plan for industrialisation.

‘The steel industry is the backbone of national development. Once revived, it will power manufacturing, infrastructure, and job creation,’ Audu said, noting that new public-private partnerships are being structured to reactivate dormant steel plants and link mining to industrial output.

The Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Economic and Financial Crimes Commission (EFCC), and the Code of Conduct Bureau (CCB) have joined forces under a Commonwealth Africa Region Research Project to develop data-driven strategies for combating corruption.

The initiative, unveiled at a two-day training workshop in Abuja, aims to identify emerging corruption patterns, share best practices, and enhance regional cooperation among anti-corruption institutions across Commonwealth Africa.

This was contained in a statement signed by Demola Bakare, Director, Public Enlightenment and Education, and Spokesperson for the Commission, on Monday.

The initiative is being implemented under the auspices of the Commonwealth Africa Anti-Corruption Centre (CAACC), aimed at identifying corruption typologies, trends, and systemic vulnerabilities across Commonwealth African countries.

It also aims to enhance collaboration among anti-corruption agencies and promote evidence-based policymaking.

Speaking at the opening session, Musa Aliyu, Chairman of the Commission, represented by Shehu Yahaya, Director of Operations, underscored the critical role of research and inter-agency collaboration in understanding the evolving nature of corruption. ‘Corruption is not a singular act; it is a complex ecosystem of behaviours, incentives, and vulnerabilities. It manifests differently across institutions, sectors, and societies.

‘Understanding these typologies is essential for designing targeted, effective, and sustainable anti-corruption strategies’, Aliyu stated.

He noted that the research project aligned with ICPC’s strategic mandate to investigate, prosecute, and prevent corrupt practices through research, education, and systemic reforms.

‘The CAACC considers it necessary that major anti-corruption agencies in Nigeria and other Commonwealth African countries collaborate to conduct this study.

‘The findings will inform policy, uncover patterns, reveal truths, and shape the future of governance in Nigeria and Africa at large’, Aliyu added.

He urged participants to maximise the benefits of the training by strengthening both their technical and ethical capacities, noting that the success of the initiative depends on commitment to integrity and analytical rigour.

The number of senators on the platform of the Peoples Democratic Party (PDP) has dropped from 28 to 27 following the defection of Senator Kaila Dahuwa Samaila (Bauchi North) to the ruling All Progressives Congress (APC) on Tuesday.

His defection has enabled the ruling APC to secure a two-thirds majority in the Senate, after it attained a total of 73 lawmakers.

Kaila, in a letter addressed to the President of the Senate, Godswill Akpabio, and read during plenary, cited the prolonged internal crises within the PDP as the major reason for his defection.

He said the recurring factionalisation and lack of direction in the opposition party had ‘gravely constrained’ his ability to serve his constituents effectively and in good conscience.

‘The Peoples Democratic Party has gravely constrained my ability to discharge my constitutional responsibilities effectively and in good conscience,’ he wrote.

‘As one deeply committed to the service of our nation and the welfare of my people, I have found it necessary to realign my political engagements with a more progressive platform that embodies good governance, unity, progress, growth, and discipline in the governance of our country.’

The lawmaker explained that his decision to join the APC was also inspired by President Bola Tinubu’s ongoing reforms, which he described as bold, transformative, and necessary for Nigeria’s recovery.

‘Consequently, I have chosen to join the All Progressives Congress and to lend my full commitment to the reforms of His Excellency, President Bola Tinubu,’ Kaila stated. ‘I hold in high regard the bold and transformative reforms initiated by the President, aimed at restoring economic stability, strengthening governance, and repositioning our nation for sustainable growth.’

According to him, Tinubu’s leadership represents the kind of ‘decisive direction’ Nigeria needs to move forward.

‘These efforts reflect the decisive leadership our country needs. I am confident that these reform efforts align with my legislative ideals and my enduring conviction to contribute meaningfully to Nigeria’s development and democratic advancement,’ he added.

With Kaila’s defection, the APC now commands 73 seats in the 109-member Senate, securing a two-thirds majority.

The new configuration of the Senate stands as follows: APC – 73; PDP – 27; Labour Party – 4; All Progressives Grand Alliance (APGA) – 2; New Nigeria Peoples Party (NNPP) – 1; and Social Democratic Party (SDP) – 2.

Governor Ademola Adeleke of Osun State, on Monday, visited Akinlalu Community in Ife North Local Government Area to condole with families of victims of the recent clash involving operatives of the Amotekun security outfit, declaring that there will be no sacred cow in the ongoing investigation.

Governor ýAdeleke, who said he cut short his medical trip abroad to personally identify with the community, expressed deep sorrow over the tragic incident, describing it as painful and unacceptable.

ýThe governor commended the people of Akinlalu for maintaining peace despite their loss assuring that those found culpable would face the full wrath of the law.

ý’I can tell you the perpetrators will face full wrath of the law. There won’t be any sacred cows. Any Amotekun officer needed for interrogation by the Police is to cooperate with the investigation. I have directed the Board chairman of Amotekun security service, AIG Wale Abbas Rtd. to cooperate with the investigation by the Police’, the governor said.

ýHe further announced plans to compensate affected families and victims of the attack, promising that the government would also construct a new Police station in Akinlalu as requested by the community. ýAlso speaking, Kazeem Akinleye, the Chief of Staff to the Governor, appealed to the bereaved families to take solace in God, praying that the community would never experience such tragedy again.

ýEarlier, Musibau Adeboye, Akinlalu Youth Leader, who spoke on behalf of the community, expressed deep appreciation for the governor’s personal visit, saying, ‘your decision to forego a mere delegation and come yourself-to stand on our soil, hear our voices directly, and observe the situation firsthand-has instantly restored our faith and confidence.’

ýThe community, however, called for the immediate and unconditional suspension of the Amotekun Commandant pending investigation, compensation for the victims’ families, a temporary suspension, withdrawal, or complete restructuring of the Amotekun Corps’ operational deployment in the community and the re-establishment of a police station.

ýAlso, Kamorudeen Oyebamiji, the Aro of Akinlalu, who lost two of his children to the incident, frowned at the utterance of Adewale Egbedun, Speaker of the Osun State House of Assembly, urging him to retract his stance on reopening the sealed Amotekun offices.

ýTaiwo Yusuf, Deputy Commissioner Operations, Osun State Police Command, who represented the Commissioner of Police, said the Osun State Police Command in collaboration with Force Headquarters in Abuja is not resting on its oars to ensure that justice is served, adding that all those arrested would be duly prosecuted.

In Nigeria’s financial services landscape, asset management has long been regarded as the domain of institutions, high-net-worth individuals, and sophisticated investors. Ordinary households, young professionals, and small business owners were largely excluded, with barriers such as high entry thresholds, limited product variety, and inadequate awareness standing in the way.

That picture is changing. Over the past decade, and particularly in recent years, the Nigerian asset management industry has undergone a quiet transformation. What was once a niche is becoming mainstream. More Nigerians are gaining access to structured investment vehicles, more products are being designed with inclusivity in mind, and technology is bridging the gap between institutional expertise and retail demand.

This evolution matters. By democratising access to managed portfolios, Nigeria is laying the groundwork for a stronger savings culture, deeper capital markets, and new avenues for wealth creation. For an economy where inflationary pressures and currency volatility erode disposable incomes, inclusive asset management offers not just financial returns but long-term resilience. The growth of Nigeria’s asset management industry

The Nigerian asset management industry has witnessed rapid growth in size and sophistication. According to the Securities and Exchange Commission (SEC), total assets under management in collective investment schemes crossed ?2 trillion in 2024, reflecting rising demand for mutual funds, money market funds, and other pooled vehicles. More than 150 registered mutual funds now operate in Nigeria, compared to fewer than 50 a decade ago. This growth has been driven not only by institutional allocations but also by a surge in retail participation, particularly in money market and fixed income funds.

Nigeria’s pension fund industry, with assets under management exceeding ?18 trillion, remains the single largest institutional investor. Yet retail-focused asset managers are carving out a complementary role. The appetite for alternatives to simple bank deposits is growing, especially in periods of high inflation. By offering pooled access to government securities, corporate bonds, and equities, asset managers are bridging a vital gap between households and the capital market.

Why retail inclusion is rising

Several factors explain the recent acceleration of retail participation in asset management. One is product innovation. Asset managers have introduced products specifically designed for small savers. Money market funds with low entry points, systematic investment plans, and both naira- and dollar-denominated funds tailored for diaspora investors now allow households to start small, remain liquid, and gradually build long-term positions.

Technology has also transformed access. Mobile apps, e-wallet integration, and digital KYC processes have lowered onboarding costs and made it possible to serve thousands of small accounts efficiently. A young professional can now invest in a money market fund with as little as ?5,000, track performance in real time, and redeem units directly into a bank account – all from a smartphone.

The regulatory environment has also evolved. The SEC has modernised rules governing collective investment schemes, requiring clear disclosures, risk categorisation, and independent custodianship. These measures improve transparency and safeguard investor funds, creating greater confidence among retail participants.

Changing investor behaviour is another driver. With inflation at 22.9 per cent in May 2025 and the naira experiencing recurring volatility, ordinary savers are increasingly understanding that simple bank deposits are inadequate for preserving value. Professionally managed funds offer an opportunity to hedge against inflation while accessing diversified investments.

The role of asset managers

Asset managers today are more than portfolio managers; they are enablers of financial inclusion. Their mandate goes beyond returns to include designing accessible products, educating investors, and distributing solutions at scale. For FSDH Asset Management, this inclusive approach is central to its mission. The company combines institutional credibility with a retail focus, ensuring that both large corporates and first-time savers can benefit from professional asset management.

Beyond offering products, FSDH has consistently placed emphasis on financial literacy. Public campaigns, webinars, and advisory sessions explain the mechanics of funds, risk factors, and the importance of disciplined saving. Education has emerged as a powerful lever. Many retail investors are unfamiliar with concepts such as compounding, diversification, or inflation-adjusted returns. By demystifying these, asset managers create not only clients but also informed partners who can sustain long-term wealth-building habits.

The Federal Government has announced that Mathematics will no longer be a compulsory subject for students seeking admission into tertiary institutions to study Arts and Humanities-related courses.

According to a statement signed by Boriowo Folasade, Director of Press and Public Relations, Ministry of Education, the new policy championed by Maruf Tunji Alausa, Minister of Education, seeks to democratise access to higher education and empower Nigerian youths through inclusive and equitable learning opportunities.

The new policy, unveiled on Tuesday applies to entry requirements for universities, polytechnics, colleges of education, and Innovation Enterprise Institutions across the country.

Under the new framework, students seeking admission into Arts and Humanities programmes will only be required to present credits in relevant subjects, including English Language, while Mathematics will remain compulsory for Science, Technology, and Social Science disciplines. According to the government, the goal is also to expand access and admit an additional 250,000 to 300,000 students each year.

Alausa explained that the reform became necessary following years of limited access that left many qualified candidates unable to secure admission despite their competence.

He noted that while over two million candidates sit for the Unified Tertiary Matriculation Examination (UTME) annually, fewer than 700,000 gain admission into universities, polytechnics, and colleges.

‘This imbalance is not due to a lack of ability, but outdated and unnecessarily stringent entry requirements that must give way to fairness and opportunity,’ the Minister stated.

Under the newly approved National Guidelines for Entry Requirements into Nigerian Tertiary Institutions, English Language remains compulsory for all candidates, while Mathematics will now be mandatory only for candidates applying to Science, Technology, and Social Science courses.

The revised framework, which applies to universities, polytechnics, colleges of education, and Innovation Enterprise Academies (IEAs), is designed to remove access barriers while maintaining academic quality and relevance to industry and national needs. For universities, the minimum requirement remains five credit passes in relevant subjects, including English Language, obtained in not more than two sittings.

For polytechnics and colleges of education, the new guidelines stipulate four to five credit passes depending on the program level and field of study, while Innovation Enterprise Academies are to adopt the same standard as polytechnics for the National Diploma (ND).

In line with the reform, the National Innovation Diploma (NID) previously issued by Innovation Enterprise Academies will be phased out and replaced with the National Diploma (ND) to ensure uniformity, credibility, and progression opportunities for graduates.

The National Board for Technical Education (NBTE) has begun a re-accreditation exercise to align all IEAs with the new ND standards, with non-compliant institutions facing de-accreditation.

‘Universities: Minimum of five (5) credit passes in relevant subjects, including English Language, obtained in not more than two sittings. Mathematics is mandatory for Science, Technology, and Social Science courses.

‘Polytechnics (ND Level): Minimum of four (4) credit passes in relevant subjects, including English Language for non-science courses and Mathematics for science-related programs.

‘Polytechnics (HND Level): Minimum of five (5) credit passes in relevant subjects, including English Language and Mathematics.

‘Colleges of Education (NCE Level): Minimum of four (4) credit passes in relevant subjects, with English Language mandatory for Arts and Social Science courses, and Mathematics required for Science, Vocational, and Technical programs. ‘Colleges of Education (B.Ed Level): Minimum of five (5) credit passes, including English Language and Mathematics, as applicable to the course of study.

‘Innovation Enterprise Academies (IEAs): To adopt the same minimum requirements as Polytechnics for the National Diploma (ND) program. The National Innovation Diploma (NID) is hereby abolished.

‘In addition, the National Industrial Diploma (NID) previously issued by Innovation Enterprise Academies will be phased out and replaced with the National Diploma (ND) to ensure uniformity, credibility, and progression opportunities for graduates. The National Board for Technical Education (NBTE) is currently re-accrediting all IEAs nationwide to align with the new ND standards. Institutions that fail to transition to full accreditation will be de-accredited,’ the statement read.

Former Premier League referee David Coote has pleaded guilty to making an indecent image of a child.

The 43-year-old appeared at Nottingham Crown Court over an allegation relating to a category A video, the most serious type, recovered by police in February.

Coote, from Woodhill Road, Collingham, Nottinghamshire, was granted conditional bail ahead of his sentencing scheduled for 11 December. Judge Nirmal Shant KC ordered a pre-sentence report and warned Coote that custody remained a strong possibility.

‘You have pleaded guilty to a serious matter. Whether this means custody or not will be decided when all the information is before the court,’ the judge said.

The former referee previously pleaded not guilty to the charge during a hearing on 10 September at Nottingham Magistrates’ Court. At Tuesday’s brief six-minute hearing, Coote, dressed in a navy suit and black tie, spoke only to confirm his name and enter his guilty plea.

The charge of making an indecent image of a child covers activities such as downloading, saving, or sharing explicit material involving children.

Judge Shant further warned:

‘You must not go away with the impression that this will not lead to a custodial sentence.’

Coote, once a regular fixture in the English Premier League, was dismissed last year after comments he made in a resurfaced 2020 video about former Liverpool manager Jrgen Klopp came to light.

In August 2025, he received an eight-week suspension from the Football Association over the same incident.

Earlier this year, in January, Coote publicly came out as gay in an interview with The Sun, revealing that years of concealing his sexuality had contributed to the frustration behind his controversial comments about Klopp.

The International Monetary Fund (IMF) on Tuesday raised Nigeria’s economic growth forecast for 2025 to 3.9 percent, an upward revision of 0.5 percentage point from its earlier projection.

The announcement came during the launch of the Fund’s latest World Economic Outlook at the ongoing World Bank/IMF Annual Meetings, in Washington DC.

The IMF also revised Nigeria’s 2026 growth projection upward by 0.9 percentage point to 4.2 percent, citing improved macroeconomic conditions, better investor confidence, and stronger oil output. According to the Fund, the enhanced outlook reflects reduced uncertainty in the domestic environment and limited exposure to the recent United States tariffs, which have had little direct impact on Nigeria’s economy due to its relatively low trade linkages with the U.S.

The IMF explained that since July, Nigeria’s exchange rate has appreciated, financial conditions have strengthened, and investor sentiment has improved. The Fund added that Nigeria’s fiscal stance remains supportive, while the hydrocarbon sector has benefited from higher oil production and improved security around key installations. ‘These factors together underpin the stronger growth outlook for Nigeria,’ the IMF said.

In addition to the 2025 and 2026 revisions, the Fund also adjusted its 2024 growth estimate for Nigeria to 4.1 percent, up by 0.7 percentage point from the previous forecast. It attributed this to the recent rebasing of Nigeria’s Gross Domestic Product (GDP), which now provides a more comprehensive picture of the economy by capturing a wider range of economic activities, including contributions from the informal sector that were previously unrecorded. Addressing the regional outlook, the IMF said Sub-Saharan Africa continues to show resilience supported by macroeconomic stabilization efforts and reform momentum in key economies such as Nigeria and Ethiopia. It, however, warned that resource-dependent and conflict-affected countries still face significant headwinds. The Fund noted that low-income economies are struggling with widening per capita income gaps compared to advanced economies, and it urged countries to strengthen institutions, double down on reforms, improve revenue mobilization through tax reforms, and enhance debt management and transparency to unlock growth potential.

The IMF further highlighted that while global trade developments continue to shape the economic outlook, new drivers such as technology investment and fiscal policies are increasingly influencing growth patterns. The Fund said that although U.S. tariffs announced earlier this year have had some impact, the overall effect on global growth has been modest, with projections standing at 3.2 percent for 2024 and 3.1 percent for 2025. It attributed the limited impact to a combination of smaller-than-feared tariff shocks, non-retaliatory responses by most countries, and the private sector’s agility in rerouting supply chains.

However, the IMF cautioned that the outlook remains fragile amid rising global risks. It cited four key downside risks: the potential overheating of the ongoing artificial intelligence-driven tech investment boom, continued weaknesses in China’s property sector, insufficient progress in rebuilding fiscal space amid high debt and low growth, and rising political pressures on central banks to ease monetary policy prematurely. The Fund warned that undermining central bank independence would erode credibility, fuel inflation, and destabilize economies.

Despite these challenges, the IMF noted that the global outlook could brighten if trade tensions ease, new bilateral and multilateral trade agreements emerge, and governments pursue policies that promote productivity, investment, and innovation. It said that artificial intelligence also holds significant promise for boosting productivity if accompanied by sound economic management and institutional reforms.

The University of Calabar (UNICAL) Governing Council has approved the eviction of occupants from the institution’s (Apartments) Boys’ Quarters (BQs), as senior staff accuse management of abuse of power while the university insists the action was approved by the Governing Council.

The Boys’ Quarters were originally designed to accommodate domestic staff and dependents of senior university employees but have become the subject of a growing dispute after management began reclaiming and reallocating them to junior staff.

An anonymous senior staff told reporters that university security personnel and staff of the Security and Technical Services Department (SAT) recently broke into several BQs, throwing out belongings of occupants, including those away on sabbatical or official duties.

‘If I’m paying for the main house, I should have the right to use the BQ for my dependents, house helps, or relations. Some of our colleagues returned to meet their doors broken and personal items thrown outside. This is not acceptable in a university environment.’ the source said

Another senior staff, who also preferred anonymity, described the eviction as high-handed and demeaning to senior members of the academic community. ‘Is the management saying our house helps should now sleep in our bedrooms because the BQs have been seized? The source asked , warning that the situation could lead to a breakdown of law and order if not properly handled.

The university management, however, defended its decision, saying the exercise followed due process and was aimed at addressing accommodation challenges for junior staff and curbing unethical practices.

Speaking on behalf of the institution, Eyo Offiong, the University’s spokesperson, said the Governing Council directed that all staff to vacate the Boys’ Quarters after evidence showed many were being rented out to students and outsiders.

‘Council decided that staff should give up their Boys’ Quarters. Letters were issued notifying them that the BQs had been revoked, and occupants were asked to vacate on or before April 30, 2025,’ Effiong explained.

He said investigations revealed that staff collected between ?80,000 and ?350,000 yearly from students and outsiders while paying the university much less, describing the practice as embarrassing and unethical. Offiong added that the university also discovered security threats linked to some occupants.

Shares of Transcorp Power surged 8.9 percent on Monday to N342 after its modest earnings performance spurred investors’ interest in its stocks.

‘Shareholders’ fears may be allayed by the 9 percent increase of TRANSPOWER share price since September 12th, which is 25th best on NGX,’ according to data analytics platform, African Stock Exchange.

Transcorp Power reported profit after tax of N68.42 billion, a 17 percent increase from N58.42 billion in the same period of 2024. Revenue rose 38 percent year-on-year to N308.54 billion, buoyed by higher generation output and energy deliveries.

The Ughelli-based generator, a subsidiary of Transnational Corporation Plc, operates over 900 megawatts of installed capacity and was listed on the Nigerian Exchange in early 2024 following its conversion to a public limited company.

Meanwhile, Transcorp Power Plc’s trade receivables jumped 65 percent to N395.34 billion as of September 2025, highlighting mounting liquidity pressure at one of Nigeria’s largest electricity generators as payment delays from the bulk buyer, NBET, persist.

The company’s unaudited nine-month financials show total receivables and related balances rising to N432.15 billion from N298.39 billion at the end of last year. Most of this, N418.5 billion, represents unpaid invoices from customers, primarily the Nigerian Bulk Electricity Trading Plc (NBET), which purchases electricity on behalf of distribution companies.

Transcorp Power booked an impairment loss of N7.69 billion during the period, in line with IFRS 9’s expected credit-loss model, bringing total provisions for doubtful debts to N23.16 billion, up from N15.47 billion in 2024.

Under its Power Purchase Agreement with NBET, the company is entitled to interest on overdue invoices, but it has yet to recognise any such income pending government approval.

Nigeria’s power sector is facing a deepening financial crisis that could push government liabilities to N6.2 trillion by the end of this year. With the exit of premium customers like Dangote Group, MTN Nigeria and about 60 percent of manufacturers off the national grid, the government faces about N200 billion tariff shortfall monthly. ‘Liquidity is an existential threat to power generation companies. And it’s growing,’ said Joy Agaji, managing director/chief executive officer of Association of Power Generation Companies in a televised interview recently.

Agaji argued that the authorities have no clear financing plans to deal with what she described as a ‘contagion’. According to her, GenCos invoice NBET an average of N280 billion, not for power that is generated by the Gencos, but rather what the system, given all its constraints, can accommodate.

‘From 2013 to the present, power generation has increased, but utilisation has stagnated at around 3,500 to 4,000 megawatts, of which only 35% of the power generated is paid for.’

Latest data from the Nigerian Electricity Regulatory Commission showed that the federal government owes GenCos N1.05 trillion for the first six months of 2025. This is after authorities reportedly approved the payment of N4 trillion legacy debt that’s held down power generating companies liquidity.

Transcorp Power disclosed that accrued but unbooked interest on unpaid bills amounted to N126 billion as of September, compared with N72.2 billion a year earlier. ‘The reconciliation is still ongoing and no firm commitment has been received,’ the company said.

The swelling receivables underscore a chronic liquidity imbalance in Nigeria’s power sector, where generation companies (GenCos) face cash shortfalls as NBET’s remittances remain inconsistent. The delay limits reinvestment and heightens borrowing dependence even as demand for power rises and cost of borrowing balloons.

Current assets climbed to N443 billion, representing more than 82 percent of Transcorp Power’s total assets, while cash and cash equivalents slipped to N7.64 billion from N8.34 billion. Current liabilities surged to N338 billion from N230 billion, driven by higher trade and tax payables.

As the government pushes for cost-reflective tariffs and improved market liquidity, analysts say sustained payment discipline by NBET will be crucial to easing cash-flow pressures for power producers and stabilising investor confidence in the sector.