Author: Vardiafrica

The Federal Government has finalized the implementation framework for the ₦4 trillion Presidential Power Sector Debt Reduction Plan, a landmark intervention aimed at restoring financial stability and investor confidence in Nigeria’s electricity industry. The plan, approved by President Bola Ahmed Tinubu and endorsed by the Federal Executive Council in August 2025, authorizes the issuance of government-backed bonds to offset verified debts owed to generation companies (GenCos) and gas suppliers—a move described as the largest financial intervention in the power sector in over a decade. High-Level Talks Reach Agreement The breakthrough followed a high-level meeting held on October 7, 2025, in Abuja, involving: The meeting reviewed payment modalities and produced a consensus…

A Madagascar army colonel says the military has taken charge of the African island nation after its parliament voted to impeach President Andry Rajoelina. Colonel Michael Randrianirina’s announcement in front of the ceremonial presidential palace in the capital, Antananarivo, on Tuesday came almost immediately after parliament voted to impeach Rajoelina, who fled the country after soldiers joined mass antigovernment protests “We have taken the power,” Randrianirina said, adding that the military was dissolving all institutions except the lower house of parliament. Randrianirina said the military would form a council composed of officers from the military and the gendarmerie law enforcement…

The Nigerian Content Academy Lecture Series organised by the Nigerian Content Development and Monitoring Board (NCDMB) got off to a thought-provoking start on Friday with a panoramic overview of local content strategy and implementation in the Nigerian oil and gas industry and a word of caution to industry players to not trifle with the initiative. In a presentation on the topic “Staying the Nigerian Content Course in the Midst of Delivery Challenges,” the pioneer Executive Secretary of the NCDMB, Dr. Ernest Nwapa, addressed several industry issues, dismissing the notion that the absence of final investment decisions (FIDs) in the country’s…

The House of Representatives has announced plans to intervene in the ongoing dispute between the Federal Government and the Academic Staff Union of Universities (ASUU). This followed a motion on Tuesday by Hon. Sesi Whingan (APC, Badagry), aimed at finding a lasting resolution to the impasse. ASUU began a two-week warning strike on Monday, citing the government’s failure to meet demands after a 14-day ultimatum expired. This marks the union’s first nationwide strike in nearly three years. Key demands include: ASUU also accused the government of delaying the report from the Yayale Ahmed committee, submitted in December 2024. In response, the Minister of Education ordered a ‘No Work, No Pay’ policy, directing vice-chancellors to monitor absentee…

Cameroon’s opposition candidate, Issa Tchiroma, declared victory late Monday in the country’s October 12 presidential election, calling on President Paul Biya to accept defeat and “honour the truth of the ballot box.” “Our victory is clear. It must be respected,” Tchiroma said in a speech posted on his Facebook page from his hometown of Garoua in northern Cameroon. “The people have chosen. And this choice must be respected.” The 76-year-old former government spokesperson and employment minister broke ranks with Biya earlier this year, launching a campaign that drew large crowds and secured endorsements from a coalition of opposition parties and…

Acting Chairman of the Independent National Electoral Commission (INEC), May Agbamuche-Mbu, on Tuesday met with leaders of political parties at the quarterly consultative meeting of the electoral umpire in Abuja. The first two quarterly meetings for the year were held on January 22 and June 26, respectively. Today’s meeting, the first since Agbamuche-Mbu took charge on October 7, comes as preparations for the Anambra gubernatorial election scheduled for November 8 intensify. Speaking at the meeting, the Agbamuche-Mbu appreciated the efforts of the immediate-past INEC Chairman, Prof. Mahmood Yakubu, whom she said left behind a legacy of innovation, institutional strength and…

President Bola Tinubu has formally requested the senate to confirm Joash Amupitan, a senior advocate of Nigeria (SAN), as chairman of the Independent National Electoral Commission (INEC). The request was conveyed in a letter read by Godswill Akpabio, the senate president, during plenary on Tuesday. “In accordance with the provisions of section 154 subsection 1 of the Constitution of the Federal Republic of Nigeria, 1999 as amended, I am pleased to present for confirmation by the Senate the appointment of Professor Joash Amupitan, Senior Advocate of Nigeria, as chairman, Independent National Electoral Commission (INEC),” the letter reads. “Attached is his…

Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, together with Sunlink Energies and Resources Limited, have taken a final investment decision (FID) on the HI gas project offshore Nigeria. When completed, the project will supply 350 million standard cubic feet (approximately 60 thousand barrels of oil equivalent) of gas per day at peak production to Nigeria LNG (NLNG; Shell interest 25.6%), which produces and exports liquefied natural gas (LNG) to global markets. Production is expected to begin before the end of this decade. “Following recent investment decisions related to the Bonga deep-water development, today’s announcement…

The Peoples Democratic Party (PDP) has postponed its 103rd National Executive Committee (NEC) meeting, scheduled for Wednesday, October 15, 2025, due to “recent developments” within the party. In a statement signed by the party’s National Publicity Secretary, Debo Ologunagba, the PDP’s National Working Committee (NWC) announced the postponement, citing Section 29 (2)(b) of the party’s constitution. “All NEC members should please note the postponement and be guided accordingly,” the statement read. The decision comes amidst a wave of defections from the party, including the expected defection of Enugu State Governor, Peter Mbah, to the All Progressives Congress (APC) on Tuesday. …

Governor Peter Mbah of Enugu State has officially dumped the Peoples Democratic Party, PDP, for the ruling All Progressives Congress, APC. Governor Mbah made his defection public in a televised broadcast on Tuesday. He said, “Today, after a long reflection, we have made the decision to leave the Peoples Democratic Party and join the All Progressives Congress.” Mbah said he joined the PDP to help transform Enugu and restructure the state’s political landscape. “Today, I stand before you to announce a break from the past and to share a decision that will shape the road ahead. “This concerns our values,…