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Reps Back N248bn Lifeline for Power Firms, Unveil Debt Shake-Up Plan
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By Gloria Ikibah
The House of Representatives Public Accounts Committee has approved sweeping financial reliefs and a long-term debt restructuring plan for three electricity distribution companies, in a move aimed at stabilising Nigeria’s troubled power sector.
The decision grants Kano, Jos and Ikeja DisCos a 10-year window to restructure liabilities running into hundreds of billions of naira, following mounting concerns over the sector’s financial sustainability.
At the heart of the intervention is a combined debt burden of over N248 billion, made up of more than N120 billion in historical obligations and about N128 billion in accumulated interest spanning a decade.
The resolution followed the adoption of a technical subcommittee report linked to findings from the Auditor-General, which highlighted rising debts across eleven distribution companies and growing pressure on the electricity market.
Chairman of the Technical subcommittee, Rep, Mark Chidi Obetta, said the move is part of broader legislative efforts to restore stability and address legacy financial challenges within the industry. He noted that the liabilities of the affected companies form a significant portion of the sector’s overall debt profile.
According to the report, total indebtedness across the eleven DisCos climbed from roughly N1 trillion at the end of 2024 to about N1.3 trillion by September 2025, driven largely by accumulating interest and unpaid obligations.
The committee said its investigation sought to verify these figures, establish the true extent of the debts and understand why the companies have struggled to meet payment commitments.
It confirmed that the liabilities had surged due to continued accruals, while also identifying disputes over interest charges as a major sticking point, particularly among the affected DisCos.
In response, the Nigerian Electricity Regulatory Commission NERC,, directed that interest should not be applied to outstanding invoices between 2015 and 2020, while allowing such charges from 2021 onwards. It also instructed that interest linked to delays involving a financial intermediary be excluded.
As part of the restructuring framework, the report stated, “Based on appearance, submissions and request, the Committee established that Jos and Kano Electricity Distribution Companies remain significantly indebted to NBET. The interest component and accrued debt during government receivership period form a substantial part of Kano Disco’s liabilities.”
It further recommended that, “NBET and NERC should allow Kano Electricity Distribution company (KEDCO), Jos Electricity Distribution Company and Ikeja Electricity Distribution company, with significant legacy obligations to restructure and repay their historical debts totaling N120,061,898,737… over an extended period of not more than 10 years.”
The report also proposed that certain liabilities incurred during periods of government intervention be transferred to a designated liability management body, while calling for a waiver of all accrued interest within the specified period.
Explaining the rationale, it added that the current market structure limits the ability of DisCos to recover costs, noting that revenue collection arrangements prioritise settlement of market obligations before operational expenses are released.
The committee stressed the need for discipline going forward, stating that, “All DisCos should ensure strict compliance with their current market obligations going forward to prevent further accumulation of liabilities.”
Chairman of the committee, Bamidele Salam, cautioned that without decisive restructuring and stronger regulatory oversight, the long-term viability of Nigeria’s electricity distribution system could remain under serious threat.
News
Atiku alleges ₦8.8tn off-budget spending, demands probe of Tinubu administration
Former Vice President Atiku Abubakar has called for an immediate investigation into what he described as alleged off-budget public expenditure amounting to about ₦8.8 trillion, following findings contained in the latest International Monetary Fund (IMF) Article IV consultation on Nigeria.
In a statement posted on his verified Facebook page on Saturday, Atiku said a Reuters report published on July 1, 2026, quoting the IMF, indicated that public expenditures equivalent to about 2 per cent of Nigeria’s Gross Domestic Product (GDP) were not captured in recent official budgets.
According to him, the alleged omission translates to approximately ₦8.8 trillion, which he claimed was spent outside Nigeria’s statutory budgetary framework.
The former presidential candidate described the development as “the most consequential act of fiscal impunity in Nigeria’s recent democratic history,” urging Nigerians, the media, civil society organisations, the National Assembly and other democratic institutions to demand accountability.
Atiku alleged that the unrecorded expenditures arose from large-scale government projects executed outside the official budget, arguing that such spending bypassed legislative oversight, procurement regulations and scrutiny by the Auditor-General.
He further claimed that the alleged practice mirrored what he described as an off-budget revenue management model previously operated in Lagos State, alleging that it had now been replicated at the federal level.
The former vice president also alleged that about ₦800 billion had been unlawfully deducted from statutory allocations due to state governments, claiming the funds were diverted without constitutional or legislative approval.
According to him, the combined value of the alleged off-budget expenditures and deductions from state allocations suggested the creation of a political war chest ahead of the 2027 general elections.
Atiku further linked the allegations to the recent controversy surrounding the Presidential Foreign Intervention Promotion Council (PFIPC), describing both issues as evidence of what he termed a pattern of fiscal opacity.
He argued that while Nigerians had been subjected to economic reforms, including fuel subsidy removal, exchange rate adjustments and high interest rates, significant public funds were allegedly being spent outside official budgetary processes.
The former vice president maintained that greater fiscal transparency could have provided resources to stimulate economic growth, support businesses, create jobs and stabilise the economy.
He called on the National Assembly to immediately convene investigative hearings into the IMF findings and urged the Auditor-General of the Federation to conduct a comprehensive audit of all alleged off-budget expenditures.
Atiku also demanded that the Federal Government publish details of all projects executed outside the approved budget, including contractors involved, procurement processes followed and officials who authorised the spending.
He further called on the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and other anti-corruption agencies to investigate the alleged unrecorded expenditures and deductions from state allocations.
“The National Assembly must convene emergency investigative hearings on the IMF’s findings without further delay,” Atiku said.
He added that the Federal Government should restore the alleged ₦800 billion deducted from state allocations and provide a full account of how the funds were utilised.
The former vice president urged civil society groups, professional bodies, the business community and international development partners to press for greater transparency and accountability in public finance management.
News
Immigration graduates 62 senior officers from Command Course
The Nigeria Immigration Service, NIS, has graduated 62 senior officers from the 13th Command Course.
The Comptroller-General of the Service, Mrs Kemi Nanna Nandap expressed the Service’s unwavering commitment to leadership development and institutional capacity building following the development.
Nandap charged the 62 graduating senior officers of the 13th Command Course, drawn from Commands and Formations across the Service, to uphold professionalism, integrity, and excellence in leadership upon completion of the three-month intensive training focused on strategic leadership, Border Security, and Migration Management.
Mrs Nandap was represented at the graduation ceremony by the Assistant Comptroller-General in charge of the Directorate of Human Resource Management, ACG SU Agba.
According to the Public Relations Officer of the NIS, Akinsola Akinlabi, the officers graduation ceremony was held at the Immigration Command and Staff College (ICSC), Sokoto.
Akinlabi said the Commandant of the Immigration Command and Staff College, ACG A.D. Bagari, also commended the Officers for successfully completing the rigorous training programme.
He urged them to apply the knowledge and leadership skills acquired during the course to improve operational effectiveness, remain responsive to the demands of public service, and continue to demonstrate vigilance in safeguarding Nigeria’s borders.
He said the Immigration boss reaffirmed the Service’s resolve to build a highly professional, disciplined, and technology-driven workforce capable of effectively addressing emerging migration and Border Security challenges.
He encouraged the graduating officers to justify the confidence reposed in them by exhibiting integrity, accountability, innovation, and transformational leadership in the discharge of their responsibilities.
Other highlights of the ceremony included the conferment of the Pass Command Course (PCC) honour on the 62 graduates and presentation of awards to outstanding participants by the representative of the CGI and other distinguished guests, as well as the decoration of Course Provosts with a Badge of Honour by the Commandant in recognition of their exemplary service.
News
Step-By-Step Guide To Apply For 2026 FRSC Recruitment
The Federal Road Safety Corps (FRSC) has opened its recruitment portal for the 2026 nationwide recruitment exercise, inviting qualified Nigerians to apply for vacancies across its Officer, Marshal Inspectorate and Road Marshal Assistant cadres.
The application portal will remain open for four weeks, while the Corps has emphasised that the recruitment exercise is free of charge and warned applicants against paying anyone for employment.
Interested applicants are advised to ensure they meet the eligibility requirements for their preferred cadre before beginning the registration process.
Below is a step-by-step guide on how to apply for FRSC recruitment.
Step 1: Confirm your eligibility
Applicants must be Nigerian citizens by birth, medically, physically and psychologically fit, single, and of good character with no criminal record.
Male applicants must be at least 1.65 metres tall, while female applicants must have a minimum height of 1.58 metres.
Step 2: Choose your preferred cadre
Applicants should select the cadre that matches their qualifications.
Officer Cadre: B.Sc., B.A., HND, MBBS, LLB, B.Pharm or B.Eng., with a valid NYSC discharge or exemption certificate. Age limit: 18 to 35 years.
Marshal Inspectorate Cadre: ND, NCE, Registered Nurse/Midwife (RN/RM) or CHEW qualification. Age limit: 18 to 30 years.
Road Marshal Assistant Cadre: Minimum of three to five O’Level credits, including English Language and Mathematics. Age limit: 16 to 30 years.
Drivers and Riders: O’Level qualification, valid driver’s licence and relevant trade certificate where applicable. Heavy truck drivers must be between 26 and 40 years.
Step 3: Get your documents ready
Before starting the application, applicants should have the following:
National Identification Number (NIN)
Primary and secondary school certificates
Tertiary institution certificates and transcripts (where applicable)
NYSC discharge or exemption certificate
Local Government Certificate of Origin
Birth certificate or age declaration
Recent passport photograph
Valid email address and phone number
Step 4: Visit the recruitment portal
Go to the official FRSC recruitment portal at recruitment.frsc.gov.ng and create an applicant account using your email address, phone number and NIN. Applicants are advised to avoid unofficial websites.
Step 5: Verify your account
After registration, check your email for the activation link sent by the FRSC and verify your account before proceeding with the application.
Step 6: Complete the application form
Log in to the portal, choose your preferred cadre and accurately fill in your personal information, educational qualifications, contact details, next-of-kin information and work experience where applicable.
Step 7: Upload your credentials
Upload scanned copies of the required documents and passport photograph, ensuring all files meet the specified requirements.
Step 8: Submit and print your acknowledgement slip
Review your application carefully before clicking the submit button.
Applicants are advised to print the completed application form and acknowledgement slip immediately after submission, as both documents will be required during the screening and Computer-Based Test (CBT) for shortlisted candidates.
The FRSC reiterated that the recruitment exercise is free and urged applicants to report anyone demanding payment or promising employment in exchange for money.
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