By Derick Peretengboro

BUA Group has announced plans to invest about $85 million in expanding its Port Harcourt port terminal as part of efforts to strengthen its logistics network and support the rapid growth of its food production business.

The company’s Chairman, Abdul Samad Rabiu, disclosed the development during a visit to the Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, in Lagos.

Rabiu said the visit was aimed at appreciating the authority for its continued support and updating its leadership on the progress of the Port Harcourt terminal project, which he described as a key component of BUA’s expansion strategy.

According to him, the upgraded facility will enable the company to import more than two million tonnes of raw materials annually once its ongoing food processing expansion is completed next year. He explained that the increased import volume makes the development of a larger and more modern terminal necessary.

The project will provide approximately 600 metres of quay frontage, significantly improving cargo-handling capacity and supporting the operations of BUA’s businesses in food processing, cement, mining and infrastructure.

Rabiu also stressed the importance of stronger port infrastructure to Nigeria’s economic development, noting that the country’s maritime facilities require further improvement despite its status as Africa’s largest economy. He commended the current NPA management for supporting private-sector investment and recalled that the Port Harcourt terminal project had previously faced setbacks before receiving renewed backing.

Responding, Dantsoho described the investment as a major boost for Nigeria’s maritime sector, saying it would increase cargo traffic, improve activities at eastern ports and generate more revenue for the country. He reaffirmed the NPA’s commitment to working closely with private investors to enhance port efficiency and strengthen Nigeria’s position as a regional maritime hub.

The NPA chief projected that the expansion could drive cargo throughput growth of between 13 and 14 per cent, adding that the collaboration between government agencies and private investors is essential for sustaining improvements across the nation’s ports.

By Derick Peretengboro

The Osun State Police Command has released the Secretary to the State Government (SSG), Teslim Igbalaye, following his detention over allegations linked to suspected electoral offences and other criminal activities. Authorities, however, said investigations into the matter are still ongoing.

The SSG regained his freedom on Thursday after he and five others were arrested during a police operation at his residence in Osogbo. Police said the operation was based on intelligence reports that led officers to the location.

Confirming the development, the spokesperson for the Osun State Police Command, Abiodun Ojelabi, stated that Igbalaye had been released while the command continues its investigation into the case.

The announcement was welcomed by the Imole Campaign Council, which coordinates Governor Ademola Adeleke’s re-election campaign. Its spokesperson, Pelumi Olajengbesi, expressed appreciation to the Inspector-General of Police and the Osun State Commissioner of Police, saying the decision reflected respect for justice and the rule of law.

During the raid, police reported recovering ₦4.81 million in cash, two Permanent Voter Cards (PVCs), a voter register, a laptop, a photocopy machine and a printer. Investigators said the recovered items are being examined as part of efforts to determine whether any electoral or other criminal laws were violated.

The police also disclosed that one of the individuals arrested at the residence was on its watchlist, while the remaining suspects are being investigated for their possible roles in the case.

The arrest had generated political controversy in the state. The Speaker of the Osun State House of Assembly, Adewale Egbedun, alleged that the SSG’s detention was politically motivated, claiming it followed an incident at an Independent National Electoral Commission (INEC) stakeholders’ meeting. The police have rejected the allegation, insisting that the operation was intelligence-driven and carried out in line with the law.

Despite the SSG’s release, the Osun State Police Command maintained that its investigation remains active and that anyone found culpable will be dealt with in accordance with the law.

By Derick Peretengboro

Nigeria’s electricity sector has continued to face major challenges despite government interventions estimated at more than ₦10 trillion over the past 13 years, with national power generation remaining around 4,500 megawatts.

Although successive administrations have introduced funding initiatives, infrastructure projects, metering programmes and financial guarantees to revive the sector, electricity supply has shown only limited improvement, leaving millions of Nigerians dependent on alternative power sources.

The Federal Government says it is pursuing fresh reforms aimed at tackling long-standing structural problems affecting the industry. According to the Minister of Power, Joseph Tegbe, the ongoing programme includes a comprehensive audit of transmission facilities, improvements to grid stability, harmonisation of electricity regulations across states, better market liquidity, asset optimisation and the development of a national super grid. He expressed confidence that these efforts would strengthen electricity supply and improve service delivery over the next few years.

A review of investments in the sector since the 2013 privatisation shows that billions of naira have been committed through various schemes, including metering projects, payment guarantees for generation companies, international development funding and the Presidential Power Initiative. Despite these investments, electricity generation has remained far below the country’s estimated demand of more than 30,000MW. Recent regulatory figures indicate that average available generation in the first quarter of 2026 remained below 4,500MW.

The sector’s financial difficulties have also deepened. Power generation companies claim they are owed trillions of naira by the government, while authorities maintain that verified liabilities are lower than the figures being quoted. The disagreement has continued to fuel concerns over liquidity and the ability of operators to sustain electricity production.

To address the funding gap, the Federal Government has begun raising money through domestic bond issuances under its Power Sector Debt Reduction Programme. Officials believe the initiative will improve cash flow within the industry, restore investor confidence and support future investments.

Industry stakeholders, however, insist that financing alone will not solve the problem. They argue that stronger governance, professional management and broader structural reforms are required to achieve reliable electricity supply. Some experts have also called for greater private sector participation and further reforms to improve efficiency across generation, transmission and distribution.

Despite the persistent challenges, the government maintains that ongoing reforms are beginning to produce results and says it remains committed to building a more stable, efficient and financially sustainable electricity industry.