The Aso Rock Presidential Villa, the office and residence of the president of Nigeria at Yakubu Gowon Crescent in Asokoro, Abuja, owes an electricity bill debt of N923,873,150, the Abuja Electricity Distribution Company (AEDC) said on Monday. Eighty-five other government ministries, departments, and agencies are also indebted to the electricity company. Notable among the debtors are the Ministry of Education, Ministry of Power, the Central Bank of Nigeria (CBN) Governor, Nigeria Police Force, United Nations...

President Bola Tinubu’s eldest son, Seyi Tinubu, and daughter, Folashade Tinubu-Ojo have implored Nigerians to have faith in their father’s administration as protest continues to rock the country over the enduring cost-of-living crisis. In an Instagram post on Monday, Seyi, quoted President Bola Tinubu’s statement during his national broadcast to mark the country’s 63rd independence anniversary last year while expressing optimism that despite the prevailing economic woes, the future of Nigeria is promising. Tinubu’s words...

Two days after the International Monetary Fund, IMF, suggested the stoppage of electricity subsidies in Nigeria, the federal government is already considering discontinuing the subsidy. The Minister of Power, Adebayo Adelabu, said at a press briefing on Wednesday that it has become “very difficult to sustain subsidy on electricity” because of the subsidy debt hanging on the neck of the Nigerian government. The government’s debt to electricity-generating companies is running in trillions. It currently stands...