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Mass Metering Initiative

Senate Approves $500m Loan For FG’s Mass Metering Initiative

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Senate Approves $500m Loan For FG’s Mass Metering Initiative—-In a significant move aimed at enhancing access to electricity across Nigeria, the Senate has given the green light to President Bola Tinubu’s request for a $500 million loan to support the federal government’s mass metering initiative.

The approval, granted by the upper legislative chamber on Wednesday, follows the presentation of a report by Haruna Manu, Vice-Chair of the Committee on Local and Foreign Debt, outlining the merits of the request.

This $500 million loan is part of a larger borrowing plan totaling $8.6 billion and €100 million, initially proposed by President Tinubu to the National Assembly in November.

The Senate endorsed the request as an integral component of the 2022-2024 external borrowing rolling plan, after careful consideration of the report submitted by the Senate Committee on Local and Foreign Debt.

Manu, while presenting the report, acknowledged a slight delay in the approval process, attributing it to the absence of the Bureau of Public Enterprises (BPE) during the committee’s deliberations on the matter.

However, he emphasized the loan’s pivotal role in sustaining Nigeria’s economic growth trajectory and reinforcing the nation’s sovereignty.

Furthermore, Manu reassured that the loan agreement is meticulously structured to safeguard against any potential misuse or mismanagement of funds, ensuring transparent and accountable disbursement mechanisms.

“The committee recommends the approval of ongoing negotiations for external borrowing amounting to $500 million for BPE,” Manu stated, underscoring the importance of forwarding the loan terms from the funding agency to the National Assembly for scrutiny prior to execution.

With the Senate’s nod of approval, this financial injection promises to accelerate efforts towards achieving widespread electricity metering, a crucial step in bolstering Nigeria’s energy infrastructure and fostering socio-economic development nationwide.

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Lagos 2027: Governor Sanwo-Olu Endorses Obafemi Hamzat as APC Aspirant

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Lagos 2027: Governor Sanwo-Olu Endorses Obafemi Hamzat as APC Aspirant—-Lagos State Governor, Babajide Sanwo-Olu, has thrown his weight behind his deputy, Obafemi Hamzat, as his preferred successor for the 2027 governorship election—an early move that is already stirring quiet conversations within the ruling All Progressives Congress (APC).

The endorsement did not come in the open. Instead, it followed a closed-door meeting at Lagos House, Marina, where Hamzat reportedly informed key stakeholders of his intention to run. Present at the gathering were members of the State Executive Council, party leaders, and influential figures within the Governor’s Advisory Council.

Among those in attendance were former Minister of State for Defence, Musiliu Obanikoro, and former senator Ganiyu Solomon—names that signal the weight of the political bloc involved in the discussions.

Speaking afterwards, Sanwo-Olu described the decision as “unanimous,” framing it as a consensus among party stakeholders. But the speed and timing of the endorsement—well ahead of party primaries—have raised eyebrows about how firmly the succession plan may already be taking shape behind the scenes.

“We just received Mr Deputy… to inform us of his intention,” the governor said, adding that those present agreed he is “fit and well-prepared” for the role.

Sanwo-Olu leaned heavily on Hamzat’s track record and their long-standing working relationship, portraying him as a loyal and capable hand ready to take over. He went further, suggesting that Hamzat has effectively been groomed for the position from the outset.

“This is a deputy governor that is worth a governor from day one,” he said.

In a remark that may further fuel speculation, the governor also referenced President Bola Tinubu’s enduring influence in Lagos politics, hinting that the current development could be part of a longer-term political vision.

Observers note that describing the gathering as a “family meeting” may reflect the tightly knit nature of decision-making within the state’s political structure—where major alignments are often settled before they reach the public stage.

While Hamzat has long been regarded as a key player in Lagos politics, the early endorsement positions him more clearly at the centre of succession discussions, even before a formal campaign has begun.

With more than a year to go before party primaries, the move is already reshaping conversations within the APC, where control of Lagos—Nigeria’s commercial nerve centre—remains one of the most strategic political prizes.

Whether this early alignment holds or faces internal pushback in the months ahead is a question many party watchers are now quietly asking

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2027 Elections: Atiku Abubakar Backs Consensus Candidate for African Democratic Congress, Keeps Primaries as Option

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2027 Elections: Atiku Abubakar Backs Consensus Candidate for African Democratic Congress, Keeps Primaries as Option—-Former Vice President Atiku Abubakar says the African Democratic Congress (ADC) will prioritise a consensus approach in selecting its presidential candidate for the 2027 general elections, but may conduct primaries if internal talks fail.

Speaking on a prime-time programme on Arise TV, Atiku explained that party leaders are working to avoid internal disputes by rallying around a single candidate through dialogue and agreement.

He expressed confidence that stakeholders would reach a common ground, noting that experienced politicians within the party understand the importance of unity.

According to him, the ADC is focused on strengthening Nigeria’s democracy, with members committed to managing differences without causing division.

Atiku also reiterated his willingness to support whoever emerges as the party’s flagbearer, regardless of the selection method.

He further stated that he is open to stepping aside for any aspirant, including Peter Obi, if they emerge as the preferred choice, emphasizing that unity within the party remains the top priority ahead of the 2027 elections.

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