PRESIDENT TINUBU RECONSTITUTES THE BOARD OF THE NIGERIAN ELECTRICITY REGULATORY COMMISSION. (PHOTO). #PRESS RELEASE

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 STATEHOUSE PRESS RELEASE   President Tinubu Reconstitutes the Board of the Nigerian Electricity Regulatory Commission   President Bola Ahmed Tinubu has approved the reconstitution of the Board of the Nigerian Electricity Regulatory Commission (NERC), following the Senate's confirmation of its members on December 16.   Members of the reconstituted Board are:   • Mulisiu Olalekan Oseni, PhD. — Chairman   Dr Oseni started his service as a Commissioner in January 2017. He was subsequently appointed Vice Chairman of the Commission.   His appointment as Chairman took effect from 1 December 2025 and shall subsist until the completion of his ten-year tenure at the Commission, in accordance with the provisions of the Electricity Act, 2023.   • Yusuf Ali, PhD. — Vice Chairman   Dr Ali was first appointed as a Commissioner in February 2022. His designation as Vice Chairman took effect on 1 December 2025 and shall remain in effect until the completion o...
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INDIA PLEDGED OVER Rs. 6,300 CRORE IN FINANCIAL SUPPORT TO HELP THE MALDIVES TACKLE IT FOREIGN EXCHANGE CRISIS. (PHOTO).

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 India has pledged over Rs. 6,300 crore in financial support to help the Maldives tackle its foreign exchange crisis. 

The decision came after a meeting between Maldivian President Mohamed Muizzu and Indian Prime Minister Narendra Modi. The financial package includes a $400 million or Rs. 3320 crore (approx) currency swap and 230 billion under the INR swap window, aimed at stabilizing the Maldivian economy. The two leaders also discussed expanding economic ties and maritime security cooperation, unveiling a new vision document to boost trade, defense, and surveillance in the region.


Prime Minister Modi emphasized India’s strong commitment to the Maldives, referring to the island nation as India’s “closest neighbour and steadfast friend.” This support marks a shift in relations between the two countries, as ties had previously cooled under President Muizzu’s earlier stance of reducing dependence on India in favor of China. However, Muizzu recognized India’s crucial role in assisting his country during tough times, particularly highlighting the new currency swap as essential for economic stability.


In addition to financial aid, the two leaders launched India’s RuPay card in the Maldives to encourage tourism and inaugurated a new runway at Hanimaadhoo international airport, built with Indian credit worth $132 million or Rs. 1095 crore(approx) India also handed over 700 housing units constructed with Indian support. These projects are part of a broader effort to deepen economic collaboration between the two nations. 

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