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FG Seeks $2bn funding from Russian, Chinese investors to revive Ajaokuta steel plant
The federal government said it was in talks with investors from Russia, China, and some Arab countries on the possibility of revamping the Ajaokuta steel company. The government said it was considering an investment of about $2 billion into the resuscitation of the plant constructed in 1979.
Minister of Steel Development, Shuaibu Audu, made the disclosure yesterday at the Ministerial Sectoral Briefings to mark the first anniversary of the President Bola Tinubu administration.
That was as the federal government launched the Nigerian National Information Portal, as the official digital gateway to comprehensive information on Nigeria.
The portal was launched yesterday by Minister of Information and National Orientation, Mohammed Idris, at the commencement of the ministerial briefing in commemoration of the first anniversary of the Tinubu administration.
Minister of the Federal Capital Territory (FCT), Nyesom Wike, said at the briefing that FCT residents would be provided a two-month free ride on the Abuja Light Rail, which will be launched on May 27 by Tinubu.
Taking his turn at the ministerial sectoral briefings, Audu said the Russian builders had shown substantial willingness and desire to complete the 110 megawatts power plant and bring in the funding and structure that will be the best for Nigeria.
He said, “Although we are talking to the Russians, we have other parties that are also showing interest, including the Chinese, the Arab companies. The consortium the Russians are bringing also include the Nigerian investors. We are factoring local capacity into the conversation.”
Audu added that the ministry had obtained presidential approval to raise private capital to kick-start the live section mill of the Steel Plant One that was 98 per cent complete, and was at the final stages of raising $35 million via private capital institutions.
He said the mill had the capacity to produce over 400,000 metric tonnes of iron rod.
Audu explained that the ministry had also had progressive engagements with the Minister of Defence on using one of the engineering workshops at Ajaokuta to produce military hardware, like helmets, vests, and bullets for use by the Nigerian military.
The minister stressed that the federal government was also thinking of creating an industrial park on a 25-acre land available at Ajaokuta, where all steel operators will coalesce into an industrial hub of Nigerians.
According to him, the ministry is reviving the steel industry with a 10-year document produced by international experts. He said about N5 billion would be required to draft the roadmap from the programme.
Meanwhile, Wike said FCT residents will enjoy a two-month free ride on the Abuja Light Rail, due for launch on May 27 by Tinubu.
He said the Abuja Light Rail will commence commercial operation after the launch, saying, however, that the president may even consider extending the free ride to six months.
Wike said at the briefing, “We are going to allow for rides for two months and you know Mr. President can even say it should be extended to six months, just to reduce the pains of the people. This is the Renewed Hope Agenda, when you say something, you do it.”
He also stated, “So many have said that it was commissioned before. We are not talking about commissioning of building; we are talking about commissioning the commercial operations. There was no access road to all the stations, how do you use it?
“The unavailability of those access roads hindered the operation of the metro line. Remember, in September last year, the president said he wanted to ride on the metro line and, to the Glory of God, on Monday, 27th of this month, Mr. President will ride on that metro line. Now, all the access roads have been done with their car parks.
“From Tuesday, 28th of this month, everybody can go and take a ride for themselves.”
The minister said the last administration awarded a contract to CCECC at the cost of $128 million to train FCT train managers for 29 months for the operation of the metro line. He said when he came on board, he rejected that arrangement and reduced the amount to $75 million, in the process saving the government $53 million.
He urged the National Assembly to review the law against vandalism in the nation’s capital, stating that the current law, which prescribed N10, 000 as fine on conviction, was not punitive enough to deter vandals.
The minister explained, “Take for example, the issue of streetlights on Abuja streets. Today you put streetlights, tomorrow night, it is no longer there. What happened? They have vandalised them. They cut off the cables.
“You arrest them for prosecution, and What does the law say on conviction, N10,000. So, they continue with the act.
“We have told the National Assembly that they must come to our aid by amending and reviewing the law to make it very tough as to discourage vandals from vandalising our infrastructure.”
Equally speaking, Minister of Solid Mineral Resources, Henry Dele-Alake, said the country failed to utilise the humungous amount of petro-dollars that accrued to it over the years to create a structural economy in other sections, including solid mineral and agriculture.
He said over 2,500 mining licences had been revoked by the administration, while 10,000 applications for mining licences were received, of which 4,000 were approved.
The information and national orientation minister launched the Nigerian National Information Portal at the commencement of the briefings, to serve as the official digital gateway to comprehensive information about Nigeria.
Idris said the portal was a centralised source for both local and international audiences, providing reliable and up-to-date information on various aspects of the country, including the government, the people of Nigeria, their cultural heritage, and many more.
The minister stated as he launched the portal, “We use this opportunity to launch the Nigerian National Information Portal. Of course, it was in existence before, but it has been so badly managed that the Federal Ministry of Information and National Orientation has resuscitated this new portal.
“It is a gateway to all the information you require to know about this government; about Nigeria, people, and our cultures. So, join me in clapping for Nigeria for having this relaunched new National Information Portal.”
The link to the portal is www.nigeria.gov.ng.
Earlier, in his address of welcome to the sectoral briefings, Idris said the president had started laying a solid and enduring foundation that will make life better for the people of Nigeria.
He stated, “Landmark initiatives, like the Consumer Credit Corporation, the Nigeria Education Loan Fund, Presidential Initiative on Compressed Natural Gas, the N200 Billion Presidential Grant and Loan Scheme, our Agriculture and Food Security efforts (including the launch of Dry Season Farming, and massive fertiliser distribution), the Renewed Hope Infrastructure Development Fund(RHIDF), Renewed Hope Cities and Estates programme, our reform efforts in the electricity sector, and in the area of taxes and fiscal policy, and the negotiations for a befitting new National Minimum Wage are some of the many policies and programmes that will directly touch and improve the lives and livelihoods of tens of millions of Nigerians.”
Idris expressed the commitment of Tinubu to ensuring the cost of living and doing business in Nigeria was brought down significantly by putting more money into the pockets of Nigerians, attracting more local and foreign investment, and transforming the country’s infrastructure.
“And we will not pause or relent until we have delivered Truly Renewed Hope to all Nigerians,” he said.
He said the commemoration of the administration’s first anniversary offered the opportunity to present the government’s scorecard to the Nigerian people, by telling the story of what had been done so far to fulfil pledges and promises made to the people.
Source: This Day
The Special Adviser on Media and Public Communication to President Bola Tinubu, Sunday Dare, says the Presidency will stand by the Nigerian Military’s position that there was never a coup attempt in Nigeria.
According to Naija News, on October 18, the Defence Headquarters (DHQ) had released a statement describing as false and misleading the reports online that alleged that activities to mark the 65th independence anniversary of Nigeria were cancelled over an attempted coup plot.
The rumours of a coup intensified further after President Tinubu sacked the Service Chiefs.
In an interview with TVC on Tuesday, Dare said the Presidency will stick to the narrative of the Nigerian Military that there was no coup attempt in Nigeria.
According to him, the presidency will only change its position when the military says otherwise, because the military is constitutionally empowered to secure the country.
He said, “We are going to stick to the narrative of the military because they are the ones constitutionally empowered to secure this country. They are given the power, arms and ammunition as the intelligence power.
“So when the military says these are the reasons why we have this development, we are going to stay with that narrative because that is the brief that is out there. Until the military comes with a different narrative, we are going to stay with that narrative. On some military being retained, there is a need to have institutional memory and maintain a balance and this decision was not taken on a flip for the person that was retained.”
In a significant turn of events, the military has taken decisive action by arresting a managing director linked to a burgeoning coup plot.
This strategic move comes amid an extensive investigation into the financial resources allegedly earmarked to support the coup attempt against President Bola Tinubu.
As the situation unfolds, there are growing concerns regarding the potential involvement of various stakeholders in this conspiracy.
Military investigators probing an alleged plot to overthrow President Bola Tinubu are reportedly grilling a Managing Director of a Federal Government agency in the South South region, according to The PUNCH.
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Two intelligence officers confirmed that the MD was arrested for allegedly transferring a huge sum of money to a former Minister of State for Petroleum Resources, Timipre Sylva, who was fingered as one of the financiers of the alleged plot to forcefully change the government.
According to reports, investigators believe the funds were meant to finance the coup.
“The MD (name withheld) transferred a huge sum of money to Sylva. Investigators are working on the theory that the fund transfer was connected to the coup. He is presently answering questions about what the money was meant for.”
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Former Bayelsa governor Sylva’s Abuja house was reportedly raided by investigators on Saturday, with military operatives arresting his younger brother, Paga, who is his Special Assistant on Domestic Affairs and went away with his driver.
The former minister and All Progressives Congress chieftain was outside the country during the operation.
Sources with knowledge of the operation explained that he was planning to return to the country when he heard that the coup leaders had been arrested. He thus shelved his plan to return home.
“Sylva’s Abuja home was raided on Saturday, but he wasn’t around. His younger brother, Paga, who is the SA, Domestic, and the driver, were arrested. Investigators believe Sylva allegedly funded the coup plot. Sylva was abroad and was preparing to leave for Nigeria when he got wind of the arrest of the coup leaders. So, he stayed back.”
The Director, Defence Media Operations, Maj-Gen Markus Kangye, and the Director of Defence Information, Brig-Gen Tukur Gusau, could not be reached for comments on Tuesday as they didn’t pick up calls from our reporter.
Gusau had, in a statement on October 4, said that 16 officers were detained for breaches of military regulations and acts of indiscipline.
“The Armed Forces of Nigeria wishes to inform the public that a routine military exercise has resulted in the arrest of sixteen officers over issues of indiscipline and breach of service regulations.
“Investigations have revealed that their grievances stemmed largely from perceived career stagnation caused by repeated failure in promotion examinations,” the statement partly read.
However, online platform SaharaReporters claimed that the detained officers — ranging from the rank of Captain to Brigadier General —were being held by the Defence Intelligence Agency for allegedly plotting to overthrow the government.
It also alleged that the officers were arrested at their homes across the country.
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Source: The Punch
Tension is palpable across the communities of Abuja following a foiled coup attempt, prompting authorities to intensify their efforts against those suspected of involvement in the plot.
In a significant development, members of the Nigerian Army executed a search operation at the Abuja residence of Timipre Sylva, a former governor of Bayelsa State and ex-Minister of State for Petroleum Resources.
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This raid is part of a broader investigation spearheaded by the Defence Intelligence Agency (DIA) into the alleged conspiracy.
According to reports from SaharaReporters, this operation underscores the serious nature of the allegations flying around and the government’s commitment to unraveling the details behind this troubling incident. The atmosphere of uncertainty and concern in the capital seems to be growing as investigations unfold.
Multiple security sources confirmed to SaharaReporters on Tuesday that the army raid occurred at Sylva’s home in the Maitama area of Abuja.
According to insiders, a “special military team” carried out the operation after intelligence linked the “former South-South governor” to secret meetings allegedly held with some of the detained military officers.
“Nigerian Army special team ransacked the home of Timipre Sylva, who is believed to have fled Nigeria,” one top source familiar with the development told SaharaReporters.
“He is the South-South former governor frequently mentioned in the case. His brother, named Paga, was picked up during the raid. The operation also extended to his Bayelsa residence.”
Another security insider said that while no official statement had been issued regarding the raid, the action was “not random” but “a direct response to intelligence linking certain political figures to the alleged plotters.”
This development comes amid growing tension within the armed forces following SaharaReporters’ exclusive report that at least 16 senior military officers had been detained incommunicado by the DIA over an alleged coup plot.
The detained officers, drawn from the Army, Navy, and Air Force, have been held for over three weeks in an undisclosed Abuja facility under what sources described as “unusual and suspicious conditions.”
Family members told SaharaReporters they initially believed their relatives had been kidnapped, as there was no official communication from the military regarding their arrests.
“It’s been 18 days since those 16 officers were detained in an undisclosed location. At first, we thought our brother was kidnapped before finding out what transpired from his friend who works in the NSA office,” a family member had said.
Security analysts have questioned why the DIA, an intelligence agency under the Ministry of Defence, is spearheading the investigation instead of allowing each military service to handle its personnel internally, a move seen as “highly political.”
“If the military were truly conducting a disciplinary operation, over 10,000 cases could emerge. Why only 16 officers, and why hand them to the DIA?” one retired officer asked. “This smells of politics. There’s clearly more going on behind the scenes.”
Speculations are now rife that the alleged plot and subsequent arrests may have deeper political undertones, potentially involving some former office holders with ties to late ex-President Muhammadu Buhari’s administration.
Sylva, a former governor of Bayelsa State and a close ally of late Buhari, served as Minister of State for Petroleum Resources between 2019 and 2023.
He was also the All Progressives Congress (APC) governorship candidate in the November 2023 Bayelsa election, which he lost to incumbent Governor Douye Diri of the People’s Democratic Party (PDP).
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The Lagos State Fire and Rescue Service revealed that 15 people, comprising seven female adults, seven male adults, and four children, had been rescued with varying degrees of injury.
A two-storey building has collapsed in the Oyingbo area of Lagos, leaving an undisclosed number of people feared trapped.
The Director of the Lagos State Fire and Rescue Service, Margaret Adeseye, in a situation report, said that the agency received a distress call in the wee small hours of Monday.
Adeseye explained that the building located on 54, Cole Street, Cemetery Bus Stop, had been marked ‘Distressed’ before it collapsed on the occupants.
She revealed that 15 people, comprising seven female adults, seven male adults, and four children, had been rescued with varying degrees of injury.
They were taken to the Federal Medical Center, Ebute Meta, and General Hospital, Odan, Lagos Island.
She, however, said a rescue operation by the Sari Iganmu Fire Station of the LSFRS was ongoing.
“It is an ongoing rescue involving an existing two-storey building which has reportedly [been] marked distress before collapsing on the occupants.
“Fifteen adults (seven male adults, four female adults, and four children) have been rescued with varying degrees of injury and taken to Federal Medical Center, Ebute Meta, and General Hospital, Odan, Lagos Island,” the statement partly read.
Building collapses in Nigeria are a lingering concern, especially in the rainy season.
The incident happened weeks after six people were rescued in September after a two-storey building collapsed on Modupeola Street, Mangoro, Alimosho, Lagos.
Scene of the collapse of a three-storey building at Alagomeji, in the Yaba area of Lagos State.
On September 13, one person was confirmed dead when a three-storey building in Alagomeji area of the state collapse.
Police commissioner Olohundare Jimoh has warned activist and politician Omoyele Sowore and others against protesting over demolitions in Lagos.
Jimoh gave the warning while addressing journalists in the Iyana-Oworo axis of the Third Mainland Bridge on Monday.
He said the Lagos police command had made massive deployments across the city to forestall any planned demonstrations that could lead to public disorder. He also mentioned that the command would not tolerate any attempt to block major highways or disrupt the peace currently being enjoyed in Lagos.
“We want to warn Sowore and his group to stay away from Lagos or face the full weight of the law. The Third Mainland Bridge is too vital to the Nigerian economy and the safety of lives and property for anyone to think of blocking it. Every day, thousands of people depend on that route for their livelihood and medical emergencies, ” Mr Jimoh said.
Jimoh said cops had been stationed at strategic points, including the Third Mainland Bridge, Maryland, Ojota, Gani Fawehinmi Park, Gbagada, Bariga, Lekki Toll Gate, and other areas to ensure peace and order.
“Anyone who wishes to organise a peaceful protest must follow laid-down procedures. What we have seen in recent times is not protest but attempts to disrupt public peace. Anyone who engages in such will be dealt with according to the law,” he said.
Following the recent demolition in Oworonshoki, Mr Jimoh defended the government’s action, describing the affected areas as illegal structures and criminal hideouts.
“Those areas were being used by criminals to launch attacks on innocent Nigerians. The government is justified in clearing them. Genuine residents have been compensated, and this was documented and covered by the media two days ago,” he said.
He accused some individuals of attempting to exploit the situation for political or criminal purposes, warning that the police would not allow anyone to use the guise of protest to cause mayhem.
“Anyone hiding under activism to cause chaos is complicit in a conspiracy to commit a crime; we will not permit that, ” he said.
The commissioner assured law-abiding residents of adequate protection, urging them to go about their daily activities without fear.
“Every Nigerian is entitled to protection, safety, and freedom of movement. We will continue to ensure that Lagos remains peaceful, but criminality under the cover of protest will not be tolerated,” Mr Jimoh said.
(NAN)
President Bola Tinubu on Thursday charged the new Chairman of the Independent National Electoral Commission, Professor Joash Amupitan, to prioritise transparency and non-violence as Nigeria prepares for the 2027 general elections, saying credible polls remained the foundation of public trust and democratic stability.
Speaking at the State House in Abuja shortly after administering the oath of office on the new INEC boss, Tinubu said Amupitan’s appointment, confirmed by the Senate a week ago, was a mark of confidence in his competence and character by both the executive and legislative arms of government.
“I, therefore, urge you, Professor Amupitan, as you take on this assignment, to protect the integrity of our elections and the electoral process and the institutional capacity of INEC, and I wish you success on your first assignment in November 2025, which is the governorship election of Anambra state,” Tinubu said.
“As the Chairman of the Independent National Electoral Commission, your nomination and confirmation are a testament to your capacity and the confidence reposed in you,” Tinubu said, adding, “This marks the beginning of a challenging yet rewarding journey, and I trust that you will approach your responsibilities with the highest level of integrity, dedication, and patriotism.”
The President emphasised that Nigeria’s democracy, which has lasted since 1999, had evolved through reforms, innovation, and lessons learned from past challenges.
“Our democracy has come a long way. We have consolidated and strengthened our democratic institutions, particularly our electoral system. To ensure that our democracy continues to flourish, the integrity of our electoral system must be beyond reproach,” Tinubu noted.
President Tinubu added that while no electoral system was flawless, credibility and transparency at every stage, be it registration, campaigning, voting, and results collation, remained critical to sustaining public trust.
He said, “To maintain public trust in elections, electoral integrity must be protected, all aspects of the process from registration to campaigning, the media access, voting and counting should be transparent, non-violent and credible.
“Elections safeguard the people’s exclusive right to choose their leaders and shape their future.
“We must consistently improve our electoral process, addressing the challenges of yesterday and innovating for today and tomorrow.”
Tinubu urged Amupitan to prioritise transparency, inclusivity, and non-violence in future polls.
Shortly after the ceremony, Amupitan told State House correspondents that he would uphold the Constitution and engage all stakeholders in the pursuit of credible elections.
“I’ve just taken the oath of allegiance and the oath as Chairman of the Independent National Electoral Commission. I reaffirm my commitment to defend the Constitution and the laws of the Federal Republic of Nigeria as they relate to the electoral system. Like the President said, I have been given a clear charge to ensure credible, fair, and free elections, and that I will ensure,” he said.
The new INEC boss said his leadership would prioritise collaboration with political parties, civil society organisations, and security agencies.
“No matter how well you design the system, success requires the cooperation of all stakeholders,” he said.
Amupitan succeeds Prof. Mahmood Yakubu, who is the longest-serving INEC chairman yet, having overseen the commission since 2015.
He took the oath of office at 1:50 pm at the Council Chamber of the Presidential Villa, Abuja.
Amupitan, a Senior Advocate of Nigeria and Professor of Law at the University of Jos, was confirmed by the Senate on October 16, 2025, following his endorsement by the National Council of State.
The National Council of State had approved his nomination on October 9, two days after Yakubu’s exit.
Since the 1993 cycle, Nigeria’s election umpires have come from a handful of zones. The South-East produced Prof. Humphrey Nwosu from Anambra, who supervised the famed June 12, 1993 polls, and later Prof. Maurice Iwu (Imo), who oversaw the 2007 polls.
The South-South produced multiple chairpersons during the transition years. These include Okon Uya from Cross River, who served briefly after June 12, Sumner Dagogo-Jack from Rivers, who served as NECON chairman under Abacha, Justice Ephraim Akpata from Edo State, who oversaw the 1999 transition and Dr. Abel Guobadia (Edo) in 2003.
From 2010, the tide tilted to the North with the appointment of Prof. Attahiru Jega from Kano State (North-West), who oversaw the 2011 and 2015 elections and is widely credited with restoring confidence after the 2007 cycle.
He was succeeded by Prof. Mahmood Yakubu from Bauchi (North-East), who conducted the 2019 and 2023 polls, and expanded the use of biometrics and other forms of tech.
Amupitan is the first INEC chief from Kogi, North-Central.
Upon assuming duties at the commission’s headquarters in Abuja, Amupitan vowed to restore credibility and public confidence in the country’s electoral system, declaring his appointment as a “divine” call to serve the nation.
Speaking during his first official meeting with the commission’s directors, he stressed that fulfilling the commission’s mandate would depend on teamwork, discipline, and integrity within the organisation.
The INEC chairman stated that his mission was to conduct free, fair, and credible elections while strengthening democratic values across the country.
“Our mandate is clear, and what is it? To deliver free, fair, and credible elections that reflect the will of the Nigerian people. To achieve this, we must work together as a team,” he stated.
Addressing INEC staff and directors, the university don pledged to uphold the highest standards of transparency and accountability.
“As we mark the beginning of the new chapter, I want to assure you of my commitment to upholding the highest standard of integrity, transparency, and discipline in all our operations,” he said.
The INEC chairman described the forthcoming Anambra State governorship election as a defining moment for the commission.
“The upcoming Anambra state governorship election is not just another electoral exercise. It represents a pivot opportunity for us to demonstrate our commitment to free, fair, and credible elections,” he declared.
“The eyes of the nation are upon us, and it is our duty to rise to that occasion.
“Credibility in our election is paramount, and we must ensure that every voter feels confident that their vote will count. Because that is a constitutional task, and let’s restore back the confidence of every voter that whenever there is an election, their vote will count,” Amupitan added.
While promising to make staff welfare a central part of his agenda, he acknowledged that the commission’s workforce played a vital role in ensuring credible elections.
“For me, staff welfare is going to be my priority. We are going to be expecting so much from you, so your welfare is going to be a priority.
“We’ll work assiduously and tirelessly to ensure that our working conditions are conducive and that our staff are equipped with the necessary resources to excel,” the new INEC chairman assured staff members.
Amupitan, accompanied by his wife, children, and senior officials from the University of Jos, expressed gratitude to his academic colleagues, who celebrated his appointment.
“I was told that the whole university got shut down out of excitement. One of theirs is now given this very herculean and important responsibility of heading this commission at this time,” he said.
Despite the weight of his new responsibilities, he said he was ready for the challenge.
“The places I’ve gone to, including some national commissioners, they were saying, ‘I don’t envy you.’ But let me say that I am excited about the journey ahead.
“Together, let us uphold the values of democracy and work tirelessly for the credibility of our elections,” he said.
He described his appointment as part of a divine plan.
“Maybe if I had a choice, I would say I would not come here. But from all the indications, I could see that God is moving in this country, and my coming is divine.
“If God says go, who are you to say ‘I’m not going?’ I’m here because I have a role to play to ensure that a new Nigeria is birthed. And of course, you know, INEC has a very, very important role to play in this quest.
“God bless you all, and God bless the Federal Republic of Nigeria,” he concluded.
Earlier, the Acting Chairman of INEC, May Agbamuche-Mbu, formally transferred the reins to Amupitan.
Congratulating Amupitan on his appointment and swearing-in, she noted that his emergence was “a recognition of your distinguished record as a legal scholar, administrator, and patriot, but also a call to national service of the highest order.”
She reminded him that he was assuming office at a “most crucial time” as the commission prepared for the Anambra governorship election, adding that four National Commissioners were already in the state on a readiness assessment visit.
Acknowledging the enormity of the task ahead, she said, “Elections are the lifeblood of democracy, and the expectations of Nigerians have never been higher.
“However, you are not walking into an empty field. You are stepping onto the firm and fertile ground laid by your predecessor, Professor Mahmood Yakubu.”
Agbamuche-Mbu praised Yakubu’s leadership for introducing “landmark innovations, from the BVAS and IReV to the strengthening of institutional transparency and voter confidence.”
Describing the assignment before Amupitan as “a herculean national service,” she expressed confidence in his capacity to lead.
“(It’s) one that demands sacrifice, patience, and unflinching dedication, but I have no doubt that you are equal to the task,” the national commissioner noted.
She presented the handover notes to Amupitan, saying, “May your tenure be marked by wisdom, integrity, innovation, and enduring impact.”
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