Author: David Great

The Federal Government may strip existing core investors of their stakes in Nigeria’s 11 power distribution companies (Discos) under a sweeping legislative overhaul proposed in the Electricity Act (Amendment) Bill 2025, currently before the National Assembly. Sponsored by Senator Enyinnaya Abaribe, Abia South, the bill seeks to overhaul key provisions of the 2023 Electricity Act. If passed, the Nigerian Electricity Regulatory Commission (NERC) would be empowered to compel investors in the Discos to recapitalise within 12 months or face consequences ranging from share dilution and receivership to outright re-privatisation. A draft copy of the bill, obtained by Chronicle NG, reveals…

Former Borno State Governor, Senator Ali Modu Sheriff, has claimed that Peter Obi, the Labour Party’s presidential candidate in the 2023 general elections, is preparing to return to the Peoples Democratic Party (PDP) ahead of the 2027 polls. Obi, who left the PDP in 2022 to secure the Labour Party’s ticket, is currently part of a coalition of opposition figures seeking to unseat President Bola Tinubu in the upcoming presidential election. The coalition has adopted the African Democratic Congress (ADC) as its political platform. However, internal tensions within the alliance—sparked by the ambitions of key members such as former Vice…

US President Donald Trump has issued a renewed ultimatum to Russia, drastically reducing the time given to end the war in Ukraine from the previously announced 50 days to just “about 10 or 12 days,” beginning immediately. Speaking from his luxury Turnberry golf resort in southwest Scotland during a bilateral meeting with UK Prime Minister Keir Starmer, Trump expressed growing frustration with Russian President Vladimir Putin over continued civilian attacks. “There is no reason in waiting,” Trump stated. “I really felt it was going to end. But every time I think it’s going to end he kills people. I’m not…

The Court of Appeal sitting in Owerri, Imo State, has ruled that the Federal Road Safety Corps, FRSC, does not have the legal authority to seize drivers’ licences, vehicles, or related documents without lawful justification. This ruling followed an appeal marked CA/OW/199/2022, filed by the FRSC, the Corps Marshal, and an officer identified by Uniform No. COSS 35, who were listed as the 1st to 3rd appellants. The appeal was brought against Dr. Emmanuel Ugochukwu Shebbs, the respondent in the matter. The appellate court upheld the earlier judgment of the High Court of Abia State, which had declared such seizures…

Troops of the Nigerian Army, in collaboration with operatives of the Department of State Services, DSS, and hybrid forces, have killed no fewer than 45 terrorists in a coordinated operation in Iburu village, Shiroro Local Government Area of Niger State. The operation, launched based on intelligence, thwarted an attempted attack on residents of the village. According to a statement released by the DSS on Monday, security forces engaged the terrorists following a tip-off that they were advancing towards the village on motorcycles with the intention to wreak havoc. “Troops of the Nigerian Army and hybrid forces, backed by intelligence support…

Residents of Lagos and parts of Ogun State are set to endure a 25-day daily power outage, beginning Monday, July 28, as announced by power distribution companies. The Association of Nigerian Electricity Distributors (ANED) confirmed that the outage is due to planned maintenance by the Transmission Company of Nigeria (TCN), which will involve a critical upgrade on one of its major transmission lines. Speaking on TVC, ANED’s Chief Executive Officer, Sunday Oduntan, explained that the power cuts will take place daily between 8:00 am and 5:00 pm and will affect the entirety of Lagos and parts of Ogun State including…

Aliko Dangote’s latest push for the Federal Government to ban the importation of refined petroleum products has ignited a storm of opposition from independent marketers, industry groups, and energy experts who warn the move could lead to market distortion and monopolistic control. Speaking at the Global Commodity Insights Conference on West African Refined Fuel Markets, hosted by the Nigerian Midstream and Downstream Petroleum Regulatory Authority and S&P Global Insights, Dangote urged President Bola Tinubu to extend the government’s “Nigeria First” policy to include petrol, diesel, and other refined fuels. He argued that importation is undermining local refining operations, including his…

The federal government has announced a major reform in Nigeria’s tax structure, scrapping the 10 percent capital gains tax and merging it with the corporate income tax (CIT). The development comes as part of the newly enacted Nigerian Tax Act (NTA), which takes effect in January 2026. Under the updated framework, the CIT remains at a flat rate of 30 percent for all companies except small businesses. Small companies — defined as those with a gross turnover not exceeding N50 million annually and total fixed assets not more than N250 million — will continue to enjoy a zero percent tax…

The All Progressives Congress (APC) has come out strongly in defence of its newly appointed national chairman, Prof. Nentawe Yilwatda, following a wave of backlash from opposition parties and public critics over his past involvement with the Independent National Electoral Commission (INEC). Yilwatda, who most recently served as the Minister of Humanitarian Affairs and Poverty Reduction, officially emerged as the APC national chairman during the party’s National Executive Committee (NEC) meeting held on Thursday, July 24, 2025, at the Presidential Villa in Abuja. He replaces Dr Abdullahi Ganduje, who resigned on June 27 due to health challenges. The opposition, however,…

The African Democratic Congress, ADC, has strongly criticised President Bola Tinubu’s administration over what it described as “fiscal vandalism,” following the National Assembly’s recent approval of an additional $21 billion in foreign loans. In a statement released on Sunday by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC warned that the new borrowing spree could push Nigeria’s total public debt above N200 trillion by the end of 2025, with little to no visible economic benefits. “What Nigerians are witnessing, following the approval of a fresh $21 billion in foreign loans, is nothing short of a calculated decision to…