Tinubu Approves ₦68bn for Maiduguri Emergency Power Plant
President Bola Tinubu has approved ₦68 billion in operational support for the Maiduguri Emergency Power Plant in Borno State, a project that restored electricity to a region that went nearly two years without power after insurgents destroyed transmission infrastructure.
Borno State Governor Babagana Zulum described the approval as timely and essential for both economic recovery and security in the insurgency-ravaged northeast.
₦2bn monthly OPEX through 2028
The ₦68 billion covers ₦2 billion in monthly operational expenditure from March 2026 through December 2028, bridging the funding gap at the plant. The intervention is channelled through the Nigerian National Petroleum Company Limited (NNPC).
“On behalf of the government and people of Borno State, I wish to most profoundly appreciate President Bola Ahmed Tinubu for approving ₦2 billion monthly OPEX intervention funding,” Zulum said in a statement by his Special Adviser on Media, Dauda Iliya.
A plant born from crisis
The Maiduguri Emergency Power Plant was commissioned in 2021 as a presidential intervention after insurgents vandalised power infrastructure, cutting electricity to the entire state for nearly two years. Since then it has been the backbone of power supply in the region, supporting businesses, hospitals, and security operations.
Zulum noted that restored power has revived economic activity and strengthened efforts to address the security crisis across Borno.
Sources: Legit.ng, Channels TV, TVC News
Written by
Amina Garba
Financial reporter covering CBN policy, oil and gas, government budgets, and macroeconomic trends. Business Writer at NaijaTrend.
You May Also Like
Business
FG Unveils $1 Billion AfCFTA Financing Facility for Nigerian Exporters
The Federal Government has launched a $1 billion African Continental Free Trade Area Adjustment Fund to provide financin…
Business
IMF Warns Nigeria Over Risks in $5 Billion Swap Deal With UAE Lender
The International Monetary Fund has warned Nigeria about significant risks linked to a planned $5 billion financing arra…
Business
NCC Says Over 75 Million Subscribers Compensated for Poor Network Service
More than 75 million telecom subscribers have received compensation from mobile network operators for poor quality of se…
Business
IMF Says CBN May Need to Sterilise FX Inflows from Higher Oil Prices to Curb Inflation
The Central Bank of Nigeria may need to sterilise foreign exchange inflows arising from higher oil prices to keep inflat…