The Presidency explained that President Bola Ahmed Tinubu approved the repayment arrangement under the Presidential Power Sector Financial Reforms Programme after an extensive assessment of inherited debts accumulated between February 2015 and March 2025. Following detailed verification and reconciliation processes, both the government and participating firms agreed that ₦3.3 trillion constitutes the complete and final settlement of all confirmed liabilities.

To date, 15 power generation companies (GenCos) have signed repayment agreements covering liabilities estimated at about ₦2.3 trillion, while further disbursements are expected as more funds are made available. To support the programme, the government has secured ₦501 billion through a bond issuance, with ₦223 billion already released to the affected companies.

Officials stressed that the initiative goes beyond simply offsetting debts, noting that it is designed to boost liquidity across the power sector, guarantee prompt payments to gas suppliers, and sustain stable electricity generation. The reform package also includes improved metering systems, service-reflective tariffs, and the prioritisation of electricity supply to commercial and industrial users.

Speaking for the Federal Government, the President’s Special Adviser on Energy stated that the repayment plan is intended to restore confidence within the sector and enhance operational efficiency at generation facilities.

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President Bola Tinubu has expressed deep sadness over the loss of the brave soldiers of the 29 Task Force Brigade, Operation HADIN KAI, who died in a coordinated terrorist attack on their camp in Benisheikh, Borno State.

The President also expressed heartfelt condolences to the military and the families of the soldiers, urging them to take heart in the face of the unfortunate loss.

The Defence Headquarters confirmed the attack and the tragic loss of lives, which occurred early Thursday, April 9, 2026.

President Tinubu praised the courage and heroism of the soldiers who fought valiantly to repel the terrorists and ensure that Boko Haram could not overrun the communities the soldiers protect.

While mourning the death of the gallant soldiers, President Tinubu urged the leadership of the Armed Forces and all soldiers on the frontline not to be discouraged, but to draw strength from the nation’s deep appreciation for their sacrifices.

“From the reports I have received, our armed forces have been conducting sustained, intense land and air offensives against the insurgents, neutralising many of their fighters and commanders. The insurgents’ counterattack is a sign of desperation.

“I extend my condolences to the families of our gallant soldiers, led by Brigadier-General Oseni Omoh Braimah, who made the ultimate sacrifice in the defence of our country today in Borno State. The government will never forget their sacrifices. Their sacrifices will not be in vain. Because of the courage and dedication of our troops on the frontline, our resolve to defeat terrorism and all forms of violence across Nigeria is stronger than ever.

“I urge the Military High Command and our troops in all theatres of operation: Do not lose heart, do not be weary, do not be discouraged. Our officers and men should continue to serve with honour, courage, and patriotism. The government will always stand by the Armed Forces, provide more of the equipment needed and ensure the welfare of all who risk their lives for our safety.

“I urge Nigerians and the media to continue to support our Military in their relentless battle against insurgency and banditry. We should desist from celebrating or condoning the attacks against our troops. These soldiers are our heroes; unforgettable and irreplaceable.

“My condolences also go to the government and people of Borno State. The Federal Government will continue to work with the state government to achieve total victory and lasting peace.

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In a statement, the Attorney-General said the recent settlement of the long-running OPL 245 dispute represents a “landmark achievement” by the administration of Bola Tinubu, resolving a controversy that has persisted for nearly three decades.

The oil block, one of Nigeria’s most valuable offshore assets, was originally awarded to Malabu Oil & Gas in 1998 before being revoked in 2001 and reallocated in 2002 to Shell Nigeria Ultra-Deep Limited. The competing claims triggered years of litigation and legislative scrutiny.

Efforts to resolve the dispute culminated in a 2011 agreement involving the Federal Government, Malabu, and oil majors including Shell and Eni. Under the deal, Malabu relinquished its claims in exchange for compensation, while the block was reassigned to joint operators, now led by Shell Nigeria Exploration and Production Company (SNEPCo) and Nigerian Agip Exploration (NAE).

The Attorney-General noted that the agreement and related transactions were subsequently tested in multiple courts across jurisdictions, including the United States, United Kingdom, and Italy, with no findings of wrongdoing against the companies involved.

However, delays by the Federal Government in converting the oil prospecting licence into a full oil mining lease led to arbitration proceedings at the International Centre for Settlement of Investment Disputes (ICSID), where Eni and its affiliates sought damages exceeding $2 billion for alleged treaty breaches.

According to the statement, the arbitration, which began in 2020, focused strictly on Nigeria’s obligations under international investment agreements and did not involve internal ownership disputes related to Malabu.

The government warned that failure to resolve the matter could have exposed Nigeria to significant financial liabilities, stressing that the current settlement was necessary to protect national interest and restore investor confidence.

Located about 150 kilometres offshore, OPL 245 is estimated to hold substantial hydrocarbon reserves and could add up to 150,000 barrels per day to Nigeria’s oil output once fully developed. The project is also expected to support gas exports linked to Nigeria LNG.

The Attorney-General further cited a recent Court of Appeal ruling in favour of Nigerian Agip Exploration, which dismissed Malabu’s legal challenge as statute-barred and an abuse of court process.

He argued that continued criticism of the settlement, despite legal and commercial clarity, raises concerns about the motives behind such opposition.

“The resolution is aimed at unlocking significant economic value for Nigeria,” the statement said, urging the public to disregard what it described as attempts to derail progress for political or personal interests.

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The reception featured mounted cavalry, horse-drawn carriages, a fanfare of trumpets, and a traditional gun salute, underscoring the significance of the high-level engagement.

President Tinubu and his host 

Prince William and Princess Catherine meet and greet the Nigerian leader, President Bola Ahmed Tinubu and First Lady Senator Oluremi Tinubu at Fairmont Hotel before the short ride to Windsor Castle, where their host, King Charles III, awaits them.

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The directive is pursuant to the provisions of Section 88(1) of the Electoral Act, 2026, as well as the timetable issued by the Independent National Electoral Commission (INEC) for party primaries ahead of the 2027 general elections.

In a circular signed by the Secretary to the Government of the Federation, Sen. George Akume, released today and was issued by the Permanent Secretary General Services Office, Dr. Ibrahim Abubakar Kana, the resignation requirement applies to all categories of presidential political appointees who wish to participate in the forthcoming party primaries or seek nomination for any elective office, which include the following: Honourable Ministers, Honourable Ministers of State, Special Advisers to the President, Senior Special Assistants to the President, Special Assistants the President, Personal Assistants to the President, All Directors-General, and Chief Executive Officers of Federal Government Parastatals, Agencies, Commissions, and Government-owned Companies, as well as all Other Political Appointees of the President.

Accordingly, all affected officials are required to submit their formal resignation letters through the Office of the Secretary to the Government of the Federation not later than March 31, 2026.

President Tinubu emphasised that the measure is necessary to ensure full compliance with electoral laws, uphold transparency in the political process, and promote a level playing field for all aspirants ahead of the elections.

He urged all concerned officials to take note of this directive and ensure strict compliance, reaffirming the administration’s commitment to strengthening democratic institutions and promoting credible electoral processes in Nigeria.

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I want to make it categorically clear that these acts of terror are the final desperate and frantic attempts by criminals and terrorist elements trying to instil and spread fear, as they are under constant pressure from our brave armed forces and security agencies operating in various theatres.

We will continue to intensify our efforts against all criminal elements, wherever they may be.

I must commend the courage and fighting spirit of our patriotic troops who successfully repelled the coordinated attacks by these terrorists on military positions in the state.

The Monday attacks were desperate acts of the evil-minded terrorist groups. Our gallant military and civilian task forces will curtail and put them down.

Just last weekend, during a security meeting with leaders of security and intelligence agencies, I approved additional equipment and operational support to enhance their capabilities. This effort is already in progress.

Additionally, I have directed security chiefs to move to Maiduguri to take charge of the situation. I have also directed the emergency agencies to provide proper care for the injured.

There is no place in Nigeria where terrorists will find safety. We will locate them, confront them, and completely defeat them.

Nigeria will not succumb to fear.

Bola Ahmed Tinubu,
President & Commander-in-Chief.
March 17, 2026

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King Charles will host President Tinubu and his wife at Windsor Castle from Wednesday, March 18, to Thursday, March 19.

The state visit is the first by a Nigerian leader in 37 years. President Tinubu is also the first Nigerian leader to be hosted by the British monarch at Windsor Castle.

Nigeria and the United Kingdom share a deep history of ties and a special bond. The purpose of this visit is to strengthen bilateral relations and explore avenues for collaboration on issues such as immigration, trade, investment, and cultural exchange.

While at Windsor Castle, Their Majesties will invite the President and the First Lady to view a special exhibition of items from the Royal Collection related to Nigeria. Later, the King and the President will hold private discussions and meet with organisations engaged in interfaith dialogue, both nationally and internationally.

The Royal Family will host a State Banquet in honour of the Nigerian guests in the evening.

President Tinubu will also hold a bilateral meeting with Prime Minister Keir Starmer at 10 Downing Street, which will lead to expanded bilateral engagement between senior officials of the two countries. The meeting will culminate in the signing of various Memoranda of Understanding and agreements, including those on trade, investment, defence, and cultural cooperation.

President Tinubu will witness the signing of the landmark £746 million financing deal between the UK Export Finance (UKEF) and the Nigerian Ports Authority (NPA) and Federal Ministry of Finance to support the refurbishment of two of Nigeria’s major national maritime infrastructure – the Lagos Port Complex (Apapa Quays) and the Tin Can Island Port Complex.

The President will be the guest of honour at the Nigerian Modernism exhibition, showcasing modern arts and culture, and will also attend a reception with Nigerian and British business leaders and the diaspora community.

Members of the President’s entourage include: Senate President, Godswill Akpabio; Attorney General and Minister of Justice, Prince Lateef Fagbemi SAN; Minister of Solid Minerals, Dele Alake; Minister of Information and National Orientation, Idris Mohammed, Minister of State for Foreign Affairs, Ambassador Bianca Ojukwu; Minister of Finance and Coordinating Minister of the Economy, Wale Edun; and Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.

Others are: Minister of Culture and Creative Economy, Hannatu Musawa; Minister of Communications and Digital Economy, Bosun Tijani; Minister of Defence, General Christopher Musa (rtd); National Security Adviser, Malam Nuhu Ribadu; and Director-General of the National Intelligence Agency, Ambassador Mohammed Mohammed.

President Tinubu will return to the country at the conclusion of the State Visit.

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Uzoka-Anite will now move to the Ministry of Budget and National Planning, as the Minister of State, her third portfolio in the administration.

President Tinubu has today conveyed the nomination of Oyedele to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio.

Until President Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

Oyedele, 50, is an economist, accountant and public policy expert.

He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in accountancy and finance. He attended Oxford Brookes University and earned a BSc in applied accounting.

He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

Oyedele spent 22 years of his working career at PwC, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader.

Oyedele is also a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.

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Speaking at an interfaith breakfast with senators at the Presidential Villa in Abuja, the President said decentralised policing would strengthen grassroots security, enhance intelligence gathering, and enable states to respond more swiftly and effectively to terrorism, banditry and other emerging threats.

He noted that a decentralised policing structure would complement existing federal security architecture and promote intelligence-led, community-focused law enforcement.

“We are facing terrorism, banditry, and insurgency. But we will never fail to make a right response to this cause. What I will ask for tonight is for you (Senators) to start thinking how best to amend the constitution to incorporate the State Police for us to secure our country, take over our forests from marauders, and free our children from fear,” he said.

The President commended the cordial relationship between the executive and the Senate, saying that unity is needed to defeat terrorism and banditry in the country.

“It is a good thing that we are working in harmony, we are looking forward to a country that evolves, a country that takes care of its citizens and protects all.

President Tinubu thanked the Senate for its unflinching support towards achieving various economic reforms of his administration, especially the fuel subsidy removal and tax reform policy. 

“I have a lot of credit for bold reforms. Without your collaboration and inspiration, those reforms would not be possible. We are reformists together. What we gave up and what we stopped is monumental corruption in the subsidy system. We don’t want to participate in monumental corruption and arbitrage foreign exchange.

“You don’t have to chase me for dollars; you could see what Nigeria is today. You should be proud, and I am glad you are. What we are enjoying is a stable economy, and prosperity is beckoning us. We need to work hard, and this attendance means a lot to me,” the President said.

President of the Senate, Godswill Akpabio, commended the President for hosting the leadership of the Senate to the Interfaith breaking of fast.

He commended President Tinubu for providing the visionary leadership the nation needs at this critical time, stating that the administration’s bold reforms have now brought more revenue to governors at the sub-national level for the development of critical infrastructure.

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Speaking at the decoration ceremony held at the State House following the retirement of Kayode Egbetokun, the President urged Disu to restore public confidence in the police and prioritise the safety of lives and property as a central pillar of his administration’s security agents.

“I made this decision for you to assume this responsibility. I know your record. I saw the dedication you exhibited while you were in Lagos when I was governor,” the President said.

President Tinubu described Disu’s appointment as coming at a critical moment, urging him to rebuild public confidence in the police’s capacity to do their job in collaboration with other security forces.

“Lead firmly but fairly, demand professionalism at every level and ensure that the safety of lives and property remains our highest priority. It’s a daunting challenge. I know you can do it. You have my word, you have my full support,” the President added.

President Tinubu urged Disu to advance the security pillars of his administration’s Renewed Hope Agenda. He expressed confidence in the Acting IGP’s discipline, operational experience and leadership capacity. 

“Nigeria is challenged with banditry, terrorism and other criminal activities. You will be part of the thinking and innovation to overcome them,” the President said. 

He reaffirmed his belief that Nigeria would prevail under a committed leadership.

President Tinubu also paid tribute to the outgoing Inspector-General of Police, Kayode Egbetokun, who was present with his spouse.

“To the outgoing Inspector-General, we are a grateful nation. Nigeria appreciates your contribution to maintaining law and order,” he said. 

He urged Egbetokun to be ready to offer useful advice to his successor and wished him and his family peace, good health and success in future endeavours.

“You have not succeeded without a good successor. His success will also be part of your legacy,” Tinubu stated.

The President urged all security stakeholders to work collectively to safeguard lives and property during this critical period.

Present at the decoration were the National Security Adviser, Nuhu Ribadu, Chief of Staff to the President, Femi Gbajabiamila, Governor of Delta State, Sheriff Oborevwori, AIG Hakeem Odumosu (rtd), senior government officials, as well as the parents and family members of the Acting IGP.

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