The Federal Government has asked the National Assembly to approve the issuance of promissory notes worth ₦269.44 billion to settle outstanding debts owed to contractors and other creditors.....KINDLY READ THE FULL STORY HERE▶

President Bola Tinubu made the request in a letter conveyed by the Secretary to the Government of the Federation (SGF), Senator George Akume, and read during plenary at the House of Representatives in Abuja.

The President is seeking lawmakers’ approval to establish and expand the Promissory Note Programme to address the government’s outstanding financial obligations.

In the letter dated August 18, 2026, and received by the Speaker’s office on October 21, Akume disclosed that the total liabilities amounted to ₦269,446,402,822.56.

He explained that the debts, which include contract-related and project-related obligations, were identified and confirmed following a comprehensive review by the relevant ministries, departments and agencies.

According to the SGF, the programme would provide “a structured, transparent and fiscally responsible framework” for settling the liabilities, with only verified and validated claims considered for payment.

In addition to seeking approval for the issuance of the promissory notes, Tinubu asked lawmakers to authorise the inclusion of the identified categories of creditors and beneficiaries, subject to final verification and certification.

The President also requested approval for the Minister of Finance and Coordinating Minister of the Economy, the Debt Management Office and other relevant government agencies to oversee the implementation of the programme.

Akume said the initiative would prevent the outstanding debts from accumulating further interest, penalties and other charges.

He added that the arrangement would reduce the financial pressure on affected creditors and demonstrate the government’s commitment to fulfilling its legitimate obligations.

The SGF noted that the Promissory Note Programme had previously been used to address inherited domestic debts and contractual liabilities, following approval by the Federal Executive Council and the National Assembly.

He explained that the scheme would allow the government to settle the obligations in phases without placing excessive pressure on public finances, in accordance with sound debt management principles.

Akume urged the House of Representatives to consider the request urgently, citing the substantial value of the liabilities, the length of time some debts had remained unpaid and the risk of additional interest accruing.

He said timely approval would enable the government to commence issuing the promissory notes and facilitate the resolution of the outstanding obligations.

A detailed schedule containing the debts, beneficiaries, amounts involved and supporting documents was attached to the request for lawmakers’ consideration.

President Bola Tinubu has approved the distribution of 500,000 solar-powered lights to rural households across the South-East, according to the Deputy Speaker of the House of Representatives, Benjamin Kalu.....KINDLY READ THE FULL STORY HERE▶

Kalu made the disclosure during the flag-off ceremony of the Renewed Hope Light-Up initiative in Bende Federal Constituency, Abia State, where 26 transformers, alongside 10,000 solar-powered lights and fans, were distributed to communities.

He said 42,000 households in the constituency had been selected to benefit from the programme, adding that the first batch of 10,000 solar-powered lights and fans was expected to arrive within two weeks.

According to the deputy speaker, the initiative commenced with a pilot scheme under which 1,000 units were provided to selected beneficiaries. He noted that representatives from the constituency’s wards had confirmed that the units were working properly.

Kalu explained that the programme was designed to extend the benefits of the Federal Government’s Renewed Hope Agenda to rural communities, particularly households struggling with unreliable electricity supply.

He described the planned distribution of solar-powered lights to 42,000 households in a single federal constituency as unprecedented, noting that the intervention would improve access to electricity in underserved communities.

Meanwhile, Emmanuel Ndubuisi, the lawmaker representing Bende South Constituency in the Abia State House of Assembly, welcomed the initiative.

Ndubuisi said some communities in the area had been without electricity for approximately two years following transformer failures, adding that the intervention would help address their power challenges.

Former lawmaker representing Rivers South-East in the National Assembly, Magnus Abe, has urged former Rivers State Governor Rotimi Amaechi to resign as the running mate to former Vice-President Atiku Abubakar of the African Democratic Congress (ADC).....KINDLY READ THE FULL STORY HERE▶

Abe also appealed to Amaechi to support President Bola Tinubu’s re-election bid in 2027, arguing that the presidency should remain in the South.

The former lawmaker made the call on Tuesday while delivering a goodwill message at a gathering of the Rainbow Coalition held at the Yakubu Gowon Stadium in Port Harcourt, the Rivers State capital.

According to Abe, Amaechi had previously opposed the presidency of former President Goodluck Jonathan on the grounds that it violated the power rotation arrangement between the North and the South.

He argued that it was inconsistent for Amaechi, who had led opposition to Jonathan’s presidency over the principle of power rotation, to now support a presidential candidate from the North when, in his view, it was the South’s turn to produce the president.

“Today, the same man who led us to go against our son and our brother is now trying to lead us to go and support somebody from the North when it is the turn of the South,” Abe said.

He consequently called on Amaechi to step down as the ADC vice-presidential candidate and back Tinubu’s bid for another term in office.

“On behalf of all of us here gathered in Rivers State, we want to call on Amaechi to immediately respect his own position and resign as the vice-presidential candidate to Atiku Abubakar,” he stated.

Abe also declared the Rainbow Coalition’s support for Tinubu ahead of the 2027 presidential election.

“We are not just with Tinubu. We are with Tinubu. We are for Tinubu. We are by Tinubu. We are in Tinubu. We are Tinubu here in this coalition,” he said.

The former lawmaker further challenged Atiku to uphold the power rotation arrangement, noting that the former vice-president had previously served in the office and contested presidential elections.