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FG gives conditions for sale of national assets

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The Federal Government has given conditions that must be met before the sale of certain national assets.

The Federal Government has given conditions that must be met before the sale of certain national assets.

This is comming on the heated arguement, whether to sale or not to sale. 

Among the conditions given for the sales is that government will insert repurchasing clauses in the assets sale agreements.

A top government source who declined to be named disclosed this to Daily Sun.

The National Economic Council (NEC), chaired by Vice President Yemi Osinbajo, had, last Thursday, endorsed government’s plan to sell off some national assets as part of the solution to get Nigeria out of recession and revamp economic growth.

According to the source,  government has also ruled out outright sale of assets.

“The federal government has no plan to sell-off its shares outrightly in the LNG where it owns 49 per cent shares and the balance 51 per cent owned by private foreign interests.

“Government doesn’t own the entire gas company and will certainly not sell-off its entire shares but is open to the possibility of selling its 49 per cent ownership by five per cent or thereabout.”

On the repurchase clause, the source said: “Just as in other potential asset sales, there would be a repurchase option that guarantees the federal government’s opportunity to buy-back any such assets if circumstances change anytime in the future.”

Though a list of national assets to be sold is  yet to be drawn-up, the source said that there is also a clear decision not to sell any critical asset of the country.

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“Some of the intended sales could be in form of time-bound leases, advance renewal payments on leasing licenses and concessioning which would attract buoyant signature fees. If we even want to sell  certain assets, while our target is to get foreign currency, specifically dollars, the option would also be opened to Nigerians at some point to buy limited shares through the Nigeria Stock Exchange.”

The source disclosed that one of the concessioning deals almost completed is the East-West lines of the Nigeria Railways, with the General Electric (GE)-being the concessionaire. He also said the firm will invest $2 billion in the Nigerian economy including refurbishment of the single-gauge lane of the lines that have been left idle for years.

GE under the deal, the source added, is expected to hire back some of the laid off staff of Nigeria Railways and also open a Transport University in Nigeria while building/assembling train coaches in Nigeria.

Under the deal,  the Federal Government would also receive a signature fees in foreign currency as it would in other assets that might be concessioned. Are you looking for cheap Islamic clothes for sale? Shop for best-rated muslim Islamic clothing with free delivery to United States, UK, Canada, and Australia. Hijabs, abayas, jilbabs, and other muslim clothes for sale prices. All sizes and styles are available – compare prices on Islam clothes for women, men, and kids online – best-seller muslim clothes with fast shipping!

 

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2027: ADC Coalition Deceiving Nigerians – Baba-Ahmed

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Labour Party vice presidential candidate, Senator Yusuf Datti Baba-Ahmed

The 2023 Labour Party (LP) vice-presidential candidate, Datti Baba-Ahmed, has warned Nigerians that the opposition coalition under the African Democratic Congress (ADC) is giving false hope about rescuing the country from underdevelopment.

“They are deceiving us,” Baba-Ahmed said during an interview on Channels Television’s Politics Today on Friday.

Baba-Ahmed, who ran alongside Peter Obi in the 2023 presidential election won by Bola Tinubu of the All Progressives Congress (APC) expressed his willingness to be Obi’s running mate in the 2027 presidential election.

Although Obi has shown interest in the 2027 race and is aligning with ADC coalition figures such as David Mark, Atiku Abubakar, Nasir el-Rufai, Rotimi Amaechi, and Rauf Aregbesola, Baba-Ahmed stressed that he wants Obi to remain in the Labour Party and contest as its presidential candidate.

“I’m in the Labour Party. I’m a Peter Obi man. I still want Peter Obi to come back to the Labour Party and contest the 2027 election,” Baba-Ahmed stated.

When asked about his plans for the 2027 race, Baba-Ahmed confirmed his readiness to serve as a running mate for like-minded leaders committed to restoring Nigeria.

“If Nigeria is still around and there is an electoral system to follow, my love for Nigeria is undying.

I would appropriately associate with groups and individuals aligned with restoring the nation,” he said.

Baba-Ahmed also revealed two potential leaders he would consider deputising, with Peter Obi being his primary choice. “The first one has not said anything.

The second one is Peter Obi. I’m always with Peter Obi until he decides not to,” he added.

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Tinubu Secures Fresh $238m Loan from Japan

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President Bola Ahmed Tinubu

Nigeria has secured a $238 million loan from the Japan International Cooperation Agency (JICA) to support the expansion and modernization of the national power grid.

The deal, confirmed during engagements at the ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan, reflects a strategic shift towards implementation-driven energy development.

President Bola Tinubu highlighted that Nigeria’s participation at TICAD9 focused on concrete, outcome-oriented partnerships rather than ceremonial diplomacy.

“We are moving from planning to implementation, from agreements to delivery, and from promises to measurable results,” he said.

Details of the JICA Loan Project

The $238 million loan, supported by a Federal Executive Council counterpart funding of ₦19,083,192,805.30, will finance significant upgrades to Nigeria’s transmission infrastructure.

Key components of the project include:

Construction of 102.95 km of new 330kV double-circuit lines

Construction of 104.59 km of 132kV double-circuit lines

Development of four 330/132/33kV substations and two 132/33kV substations

Multiple line bay extensions to improve efficiency and reduce system losses

According to Minister of Power, Chief Adebayo Adelabu, the partnership with Japanese companies such as Toshiba, Hitachi, and Japan’s Transmission & Distribution Corporation is essential for unlocking Nigeria’s energy potential.

“Our focus is on transmission infrastructure, operational efficiency, and strategies to reduce system losses.

This $238 million loan from JICA provides the backbone for that transformation,” Adelabu explained.

Adelabu acknowledged Japan’s consistent support for Nigeria’s power sector, highlighting contributions in infrastructure, technical studies, training, and financing.

He emphasized that JICA’s backing is critical to expanding access to reliable, affordable, and sustainable electricity across the country.

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The project aims to strengthen Nigeria’s power transmission network, improve system reliability, and enhance overall efficiency, ultimately supporting industrial growth and meeting rising electricity demand nationwide.

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‘Gate of Hell’ Will Open on Gaza’– Israeli Defence Issues Finally Warning to Hamas

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Hamas militants kill Israeli male hostage, injured two female hostages in Gaza

Israeli Defence Minister Israel Katz has issued a fierce warning to Hamas, declaring that Gaza City will face complete destruction if the militant group refuses to accept Israel’s conditions for ending the war.

Katz, in a statement shared on social media on Friday, August 22, 2025, used sharp words to describe Israel’s next steps.

He said the “gates of hell” would open on Hamas if it failed to disarm and release all hostages.

“Soon, the gates of hell will open upon the heads of Hamas’s murderers and rapists in Gaza until they agree to Israel’s conditions,” Katz wrote.

He added that if Hamas refused, Gaza City would suffer the same fate as Rafah and Beit Hanoun, two cities previously flattened by Israeli offensives.

His comments mark one of Israel’s strongest warnings since the escalation of the conflict.

The minister’s remarks came only hours after Prime Minister Benjamin Netanyahu announced that negotiations had been ordered to free the hostages held in Gaza.

Netanyahu explained in a video address that Israel’s military operation in Gaza City would not stop during talks. “Defeating Hamas and releasing our hostages go hand in hand,” he said.

The prime minister also confirmed the mobilisation of 60,000 reservists to join the offensive.

Meanwhile, mediators have been waiting for Israel’s response to a ceasefire plan that Hamas accepted earlier in the week.

The proposal suggests a phased release of hostages, but Israel insists that only a deal ensuring the release of all captives at once will be accepted.

Israel’s hardened stance has sparked growing concern worldwide.

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International leaders have cautioned that an expanded assault on Gaza City could worsen the humanitarian disaster already unfolding in the region.

Gaza’s health ministry says more than 62,000 Palestinians, most of them civilians, have been killed since Israel’s military campaign began.

The United Nations considers these figures credible.

The war was triggered by Hamas’s October 2023 attack, which left 1,219 people dead in Israel, mostly civilians.

Since then, the conflict has intensified, with both sides showing little sign of compromise.

With Katz’s threat to turn Gaza City into rubble if demands are not met, the conflict appears to be entering an even deadlier stage.

The international community continues to press for a ceasefire, but Israel’s leadership insists that victory over Hamas and the release of all hostages remain its top priorities.

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Health

NAFDAC Raises Alarm as Fake Cowbell Milk Floods Nigerian Markets

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The National Agency for Food and Drug Administration and Control (NAFDAC) has raised alarm over the circulation of fake Cowbell “Our Milk” 12g sachets in Nigeria.

In a statement issued on Friday, August 22, 2025, the agency explained that the counterfeit milk is packaged to look like the discontinued Cowbell “Our Milk,” but it is unauthorised and unsafe for consumption.

Fake cowbell milk.

NAFDAC clarified that Promasidor Nigeria Ltd, the authentic manufacturer, stopped producing Cowbell “Our Milk” in September 2023.

The product was replaced with Cowbell “Our Creamy Goodness.” Despite this, fake versions of the old product have found their way into Nigerian markets.

Picture of Fake cowbell milk.

Picture of Fake cowbell milk.

The counterfeit sachets bear the brand name, NAFDAC registration number, and familiar packaging design, making them difficult for unsuspecting buyers to identify as fake.

Health Dangers of Fake Cowbell Milk

NAFDAC warned that the consumption of these counterfeit products poses serious health risks.

Fake milk could contain toxic chemicals, harmful additives, or diluted ingredients that endanger human health.

Infants, children, pregnant women, and the elderly are the most vulnerable. Possible dangers include:

  • Foodborne illnesses
  • Allergic reactions
  • Organ damage
  • Long-term health complications
  • In extreme cases, death

Counterfeit Product Details

  1. Product Name: Cowbell “Our Milk” 12g sachet
  2. Purported Manufacturer: Promasidor Nigeria Ltd
  3. Production Date: 04/2025
  4. Expiry Date: 12/2028

Picture of original cowbell milk.

NAFDAC Issues Strong Warning

The agency urged Nigerians to remain vigilant and avoid purchasing the counterfeit milk.

Healthcare professionals, distributors, and consumers have been advised to report suspicious sales of substandard or fake products immediately.

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Reports can be made through:

The nearest NAFDAC office

Toll-free line: 0800-162-3322

Email: sf.alert@nafdac.gov.ng

NAFDAC also called on traders and retailers to stop selling the fake sachets.

The agency assured the public that strict enforcement measures are being taken to remove the counterfeit products from circulation.

This is not the first time Nigerians have faced risks from fake food and beverages.

Experts warn that counterfeit consumables are becoming more sophisticated, often making them difficult to spot.

Consumers are advised to always check product details, expiry dates, and packaging changes announced by manufacturers.

By highlighting the dangers and raising awareness, NAFDAC says it hopes to protect Nigerians from avoidable health crises linked to fake milk products

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Africa

‘Misplaced Priority’: Peter Obi Blasts FG’s ₦142bn Bus Terminal Project

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Former Labour Party presidential candidate Peter Obi has slammed the Federal Government’s approval of ₦142 billion for the construction of bus terminals across Nigeria, describing it as a reckless misplacement of priorities.

Obi issued a statement on Friday, August 22, via his Official X formerly Twitter platform, warning that the project reflects poor leadership and lack of focus in managing Nigeria’s limited resources. He titled his statement, “₦142 Billion for Bus Terminals.”

According to him, the true test of leadership is how scarce resources are prioritized.

He stressed that investing such a huge amount in bus terminals while critical sectors like healthcare suffer shows a government that is out of touch with citizens’ realities.

Obi said: “The difference between success and failure in any nation is how leaders prioritise resources.

The decision to spend ₦142 billion on six bus terminals exposes a lack of competence and vision. It is a clear sign of poor leadership.”

The Federal Executive Council had recently approved the funds for the construction of one modern bus terminal in each of the six geopolitical zones.

The government described it as part of efforts to modernise transport infrastructure and improve mobility nationwide.

But Obi strongly disagreed. He compared the allocation to healthcare funding, pointing out that the combined budget for all teaching hospitals and federal psychiatric centres in Nigeria is less than ₦100 billion in the 2024 budget.

“This is disturbing,” Obi continued, “because health remains one of the most critical sectors of development. Yet it is underfunded and deteriorating rapidly.

The World Health Organization has reported that over 20 million Nigerians live with mental health conditions.

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This is a tragic irony. How can the government ignore this crisis and focus on bus terminals?”

He argued that the health sector, alongside education and poverty reduction programs, deserves priority attention.

Obi insisted that until government spending reflects the real needs of Nigerians, the country will remain trapped in poor governance.

Many Nigerians have also taken to social media to express anger, echoing Obi’s concerns. Critics argue that the decision proves the Federal Government is disconnected from the economic struggles of ordinary citizens.

For Obi, the ₦142 billion project is not just a case of wrong timing.

He sees it as a clear example of governance failure and misplaced priorities.

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