LAGOS HOTEL, 3 OTHER PROPERTIES FORFEITED BY DRUG KINGPINS AUCTIONED AT N6.1BILLION.(PHOTOS). #PRESS RELEASE.

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 Lagos hotel, 3 other properties forfeited by drug kingpins auctioned at N6.1billion *- It’s a clear message that cartels won’t be allowed to enjoy proceeds of their criminal trade, says Marwa*  A Lagos hotel and three other properties seized from drug kingpins by the National Drug Law Enforcement Agency (NDLEA) and forfeited to the Federal Government through court processes have been auctioned for the sum of Six Billion One Hundred and Forty- Eight Million Nine Hundred and Sixty-Four Thousand Naira (N6,148,964,000.00) only. This was the outcome of a competitive bid process for the sale of eight assets forfeited by drug barons in parts of the country. While bidders who offered above reserved prices emerged winners of four of the listed properties, bids for four others failed because none offered up to the reserved prices. Announcing the winning bids at the bid opening ceremony attended by representatives of ICPC, Civil Society Organisations, auctioneers and bidders at the NDLE...
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FEDERAL GOVT SPENDS N88 BILLION ON REPAIR OF VANDALISED POWER FACILITIES IN FOUR YEARS. (PHOTO).

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 Federal Government Spends N88 Billion on Repair of Vandalised Power Facilities in Four Years


The Federal Government of Nigeria has expended a staggering N88 billion over the past four years to repair and restore critical power infrastructure damaged by vandalism, according to a recent statement from the Transmission Company of Nigeria (TCN).


The TCN disclosed that the funds were allocated to address the recurring issue of vandalism targeting transmission lines, substations, and other key facilities across the country. These acts of sabotage have significantly disrupted power supply, hampering efforts to achieve stable electricity distribution nationwide.


In a press briefing, the Managing Director of TCN, Engr. Sule Ahmed Abdulaziz, highlighted the severity of the issue, noting that vandals often target high-voltage transmission towers and cables, leading to substantial financial losses and prolonged outages. "The N88 billion spent on repairs could have been channeled into expanding and upgrading our grid infrastructure to meet growing demand," Abdulaziz stated.


The TCN reported that between 2021 and 2025, over 200 incidents of vandalism were recorded, with the South-South and North-East regions being the most affected. These incidents have not only strained the national budget but also posed significant challenges to the government's efforts to improve power reliability for households and businesses.


To curb the menace, the TCN has called for increased collaboration with security agencies and local communities to protect power infrastructure. The company also urged the public to report suspicious activities around transmission facilities to prevent further losses.


The Federal Government has reiterated its commitment to strengthening the power sector and ensuring uninterrupted electricity supply, but emphasized that addressing vandalism is critical to achieving these goals. Plans are underway to deploy advanced surveillance technologies and enact stricter penalties for perpetrators to deter future incidents.

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