By Ayo Kehinde The Transmission Company of Nigeria (TCN) has declared force majeure on the Oworonshoki 132/33kV and Lekki 330/132kV transmission substations following severe flooding caused by persistent rainfall in Lagos, warning that the development could disrupt electricity supply to customers served by the affected transmission facilities. The declaration followed the inundation of critical infrastructure at the two substations, with floodwaters crippling operations at the Oworonshoki Transmission Substation and posing a serious threat to the Lekki Transmission Substation. In a statement issued on Wednesday by its General Manager, Public Affairs, Ndidi Mbah, TCN said the Oworonshoki substation had been forced out of service after rising floodwaters affected two of its power transformers, while emergency efforts were ongoing to keep the …
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By Ayo Kehinde The Debt Management Office (DMO) has unveiled plans to raise ₦4 trillion through Federal Government of Nigeria (FGN) bond auctions in the third quarter of 2026 as it continues to finance the country’s widening budget deficit and refinance maturing debt obligations. According to the provisional Q3 2026 FGN Bond Issuance Calendar released on June 29, the DMO will conduct bond auctions on July 20, August 17 and September 14. The programme will feature reopenings of three existing bond instruments rather than new issuances. The July auction will offer the 22.60 percent FGN January 2035, 16.2499 percent FGN April 2037 and 15.45 percent FGN June 2038 bonds, with offer sizes ranging from ₦400 billion to ₦600 billion for …
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By  Ayo Kehinde The Transmission Company of Nigeria (TCN) has announced a planned 10-hour power outage in parts of Ondo State to facilitate critical maintenance and network upgrade works at its Ondo 132/33kV Transmission Substation. The company’s General Manager, Public Affairs, Ndidi Mbah, TCN said the scheduled outage would take place on  Tuesday, June 30, from 8:00 a.m. to 6:00 p.m., during which electricity supply to Ondo Town and Okitipupa would be temporarily disrupted. According to the statement, the outage is necessary to enable TCN engineers to transfer the Ife–Ondo 132kV transmission line from the proposed Omotosho–Ondo 132kV transmission line bay to the Ife–Ondo 132kV line bay, a key component of ongoing efforts to strengthen the transmission network. The company …
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From Victor Osula, Abuja The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has unveiled a N500 million zero-interest revolving fund aimed at expanding access to affordable financing for Micro, Small, and Medium Enterprises (MSMEs). Director-General of the agency, Charles Odii, announced the initiative, known as the Grow Fund for Small Businesses in Nigeria, during an engagement with traders, saying the intervention was designed to tackle one of the biggest challenges confronting Nigerian entrepreneurs—limited access to affordable credit. According to Odii, the agency’s decision followed direct consultations with market traders to better understand the realities facing small business owners. “We visited traders at one of the markets today to engage directly with them because it is not enough to …
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