Foreign News
Ukraine/Russian War Poses New Hurdle for Presidential Power Initiative 

There are strong indications that the Federal Government might fail to meet set targets on the Presidential Power Initiative (PPI), due to the negative impact of the ongoing Ukraine-Russian war.
Under the PPI, the target of the government is to increase power supply to 7,000 Megawatt, MW by December 2022, from the current average of 5,000MW, with an additional increase to 11,000MW and 25,000MW thereafter, with FGN Power Company and Siemens as the driver and contractor, respectively.
This informed the recent repositioning of the project and the Federal Executive Council (FEC) approval of the procurement of Mobile Units (Transmission Substations and Power Transformers) for early works of Phase 1 of PPI and the Contract award for the Procurement of Ten (10) mobile transformers and award of Ten (10) mobile substations to Siemens last December.
But investigations confirmed that the ongoing war in Ukraine has culminated in the shutdown of Siemens manufacturing plants, thus affecting the production and shipment of the PPI components, including transformers, reactors, switch gears, protection, control and metering equipment to Nigeria.
The components were supposed to be produced in Ukraine because of lower costs and shipped to Nigeria in the first quarter (January-March), 2022 for utilization in the execution of over 200 power transmission and distribution projects.
The managing director, Siemens Energy Nigeria, Seun Suleiman, could not be reached for comments, but in a report, ‘on the war in Ukraine and on the situation in Russia’ obtained by Vanguard, the company, stated: “We join the international community in condemning the war in Ukraine and are focused on supporting our people and providing humanitarian aid.
“Siemens will exit the Russian market as a result of the Ukraine war. The company has started proceedings to wind down its industrial operations and all industrial business activities.
“Siemens was one of the first companies to put all new business in and international deliveries to Russia on hold while it evaluated the situation to ensure the safety of its 3,000 employees in the country.
“After the start of the war, Siemens put all new business in and international deliveries to Russia and Belarus on hold. The comprehensive international sanctions, as well as current and potential countermeasures, impact the company’s business activities in Russia, particularly rail service and maintenance.”
Roland Busch, President and CEO of Siemens AG, also said: “We condemn the war in Ukraine and have decided to carry out an orderly process to wind down our industrial business activities in Russia. This was not an easy decision, given our duty of care for our employees and long-standing customer relationships, in a market where we have been active for almost 170 years.”
Meanwhile, electricity generation has dropped by 12.4 percent to 3,344 megawatts, MW, from 3,819MW, recorded a week ago, according to Nigeria Electricity System Operator’s report. This is very insignificant for transmission and distribution to meet the needs of consumers, especially because of the huge estimated over 200 million population.
However, commenting on the nation’s poor power situation, Chief Executive officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, said inadequate power supply has culminated in consumers, including investors, investing funds to generate their independent electricity at higher costs.
Specifically, he said: “Escalating energy cost has both global and a domestic dimension. Diesel cost has spiked by about 200 percent in the last six months. The prices of aviation fuel [Jet A1] and natural gas have similarly skyrocketed. The crisis became exacerbated by the collapse of the national grid leading to a sharp drop in electricity supply from the grid and consequent load shedding.
The situation became unbearable for both households and investors. There were series of blame games among players in the electricity supply chain – the DISCOs, the GENCOs, the Transmission Company of Nigeria, the gas suppliers and the power ministry. “The consequences of these were the escalation of production and operating cost across all sectors. Cost of transportation, especially haulage cost similarly spiked because most haulage trucks are powered by diesel. Many businesses were not able to pass on the increase in energy costs to their consumers. Many investors have scaled down their operations, while several others have suspended operations.”
Similarly, the Managing Director, Ibom Power, Engr. Meyen Etukudo, attributed the problems in the power sector to the inability to put the right pegs in the right holes. He said: “There is no meaningful development in the sector due to obsolete and obnoxious policies. The moment the real professionals begin to take charge in the power sector, the difference will be clear.”
The FGN Power Company did not respond to Vanguard, weekend, but recently, the Managing Director/CEO, FGN Power company, Kenny Anuwe had boasted that, “A unique end-to-end power project like the PPI will have notable impacts across the country for consumers. The PPI will deliver incremental power to Nigerians, improve investors’ confidence, create jobs, reduce the cost of doing business and enhance economic activities in Nigeria.”
Foreign News
Trump, Putin to Meet in Coming Days-Kremlin Says

US President Donald Trump and Russian President Vladimir Putin have agreed to meet in the “Coming days”, the Kremlin has said.
It followed Trump saying there was a “good chance” he could meet his Russian and Ukrainian counterparts together in person “Very soon” to discuss ending the war in Ukraine.
Ukrainian President Volodymyr Zelensky indicated support for that idea, while Putin said he was not against meeting Zelensky but he was “Very far” from it happening.
Trump’s deadline for Russia to agree to a ceasefire in Ukraine or face more sweeping sanctions is due to expire on Friday.
A meeting between Trump and Putin would follow US envoy Steve Witkoff holding talks with the Russian president on Wednesday.
Witkoff has travelled to Moscow four times previously, visits followed by optimism from Trump but ultimately no major breakthrough in peace talks.
Speaking on Thursday, Putin said the United Arab Emirates could host his meeting with Trump, potentially as early as next week.
He said he was “very far” from a meeting with Zelensky because “Conditions” had not been met and there was “still a long haul ahead for creation of such conditions”.
Previously, Putin said he would only meet Zelensky during a final phase of negotiations. Kyiv and its Western partners reject Moscow’s demands for ending the war.
Zelensky indicated his support for a summit, acknowledging that various formats of meetings had been discussed – “Two bilateral and one trilateral” – and added that Europe “must be a participant” in any talks.
He wrote on X: “Ukraine is not afraid of meetings and expects the same brave approach from the Russian side.”
When asked at a White House briefing on Wednesday night whether Zelensky and Putin had agreed to a three-way summit, Trump had said there was a “very good prospect”.
Last month, Trump admitted that after all four of Witkoff’s previous visits, Putin had disappointed him after talks had initially led to optimism.
The US President is now striking a more cautious tone, telling reporters on Wednesday: “I don’t call it a breakthrough…we have been working at this for a long time. There are thousands of young people dying… I’m here to get the thing over with.”
On Wednesday, the Kremlin released a vague statement about Witkoff’s visit, calling the discussions “constructive” and noting that both sides had exchanged “signals”.
Zelensky meanwhile said he had spoken to Trump about Witkoff’s visit, with European leaders also on the call.
The Ukrainian president has been warning that Russia would only make serious moves towards peace if it began to run out of money.
Expectations are muted for a settlement by Friday – when Trump’s deadline expires – and Russia has continued its large-scale air attacks on Ukraine despite the US threat of sanctions.
As pressure builds, Trump on Wednesday signed an executive order imposing a 25% tariff on Indian imports over its continued purchase of Russian oil
Before taking office in January, Trump said he would be able to end the war between Russia and Ukraine in a day. The conflict has raged on and his rhetoric towards Moscow has since hardened.
Three rounds of talks between Ukraine and Russia in Istanbul have failed to bring the war closer to an end, three-and-a-half years after Moscow launched its full-invasion.
Moscow’s military and political preconditions for peace remain unacceptable to Kyiv and to its Western partners.
Russian demands include Ukraine becoming a neutral state, dramatically reducing its military and abandoning its Nato aspirations.
It also wants Ukrainian military withdrawal from its four partly occupied regions in the south-east, and the demobilisation of its soldiers.
Russia also demands international recognition of Ukraine’s Donetsk, Luhansk, Kherson and Zaporizhzhia regions, as well as the annexed Crimea.
Other conditions include a ban on Ukraine’s membership in any military alliances, a limit on the size of the Ukrainian army, Russian as an official language, and the lifting of international sanctions on Russia.
The Kremlin has also repeatedly turned down Kyiv’s requests for a meeting between Zelensky and Putin.
Meanwhile, the US approved $200m (£150m) in additional military aid to Ukraine on Tuesday, including support for drone production.
Foreign News
US Seeks $15,000 for Visa Applicants Deposit from Two African Countries

The US has required citizens from Malawi and Zambia to pay a $15,000 (£11,300) deposit for a tourist or business visa, according to the US state department.
The 12-month pilot programme aims to curb visa overstays or where screening and vetting information is considered deficient according to a notice published by the state department.
It was said that citizens of other countries than Malawi and Zambia may soon also need to pay a similar deposit, which will be returned at the end of their visit to the US.
The US administration has taken several steps to further President Trump’s agenda of stemming illegal immigration.
Trump signed an executive order on the first day of his second term to this effect, and the state department noticed published on Tuesday, says: “Aliens applying for visas as temporary visitors for business or pleasure (B-1/B-2) and who are nationals of countries identified by the Department as having high visa overstay rates, where screening and vetting information is deemed deficient, or offering Citizenship by Investment, if the alien obtained citizenship with no residency requirement, may be subject to the pilot program.
“Consular officers may require covered non-immigrant visa applicants to post a bond of up to $15,000 as a condition of visa issuance, as determined by the consular officers.” Figures published in 2023 by the US department of Homeland Security show that about 14% of visitors from Malawi overstay their visas, compared to 11% of Zambian visitors.
Other countries with high overstay rates include Haiti (31%), Myanmar (27%) and Yemen (20%).
Zambia Foreign Minister Mulambo Haimbe had said the government was “engaging our counterparts to get a full understanding of the implications and what can be done, if anything, to address the underlying issues”.
Since coming to office in January, Trump has signed orders to roll back humanitarian programmes for migrants from certain countries who are already in the US. He has also banned foreign nationals from 12 countries from travelling to the US, and imposed partial restrictions on another seven.
His administration has revoked visas for hundreds of international students and detained several others on college campuses across the US, often without any warning or recourse for appeals.
The state department has said it is targeting those who were involved in activities that “run counter” to US national interests.
Many of those targeted have participated in some form of pro-Palestinian activity.
But there have been other cases where cancellations appear to be connected to those with some sort of criminal record, or legal infractions like driving over the speed limit, immigration lawyers have said.
Foreign News
Ghana Raises Cocoa Prices to $5,040 Per tonne

Ghana on Monday increased the producer price of cocoa by more than 60 percent ahead of the 2025-26 season, a move expected to put pressure on top cocoa-producing rivals like the Ivory Coast.
The move could also raise global cocoa costs even further, at a time when supply chains are already tightening due to climate shocks and ageing farms.
Finance Minister Cassiel Ato Forson said the rate paid to farmers will rise from $3,100 to $5,040 per tonne, a 62.
58-percent increase.“The cocoa farmer remains a critical pillar of our economy, and this government is committed to ensuring they benefit from the gains we are making,” the minister said at a news conference in the capital, Accra.
Ghana, the world’s second-largest cocoa producer, typically sets its prices ahead of the Ivory Coast, which leads global production.
The Ivorian government is currently paying farmers 2,200 CFA francs per kilogramme, about $3,900 per tonne.
The substantial increase in Ghana is in line with a campaign promise by President John Mahama, elected in December, to raise cocoa farmers’ share of export earnings to at least 70 percent of the Free-On-Board (FOB) value — the price of cocoa at the point it is loaded onto a ship for export.
The FOB price has shot up in recent years, with the current $7,200 price reflecting a blend of earlier contracts signed at $2,600 per tonne during the 2023-24 season and forward sales forecasts for 2025-26, Forson said.
Farmers were previously only receiving 63.9 percent of the FOB price, or $3,100 of the $4,850 FOB value, in the 2024-25 season.
Forson said the revised price also accounts for improved macroeconomic conditions, including a strengthening cedi and easing inflation.
Ghana’s price controls are meant to stabilise earnings for farmers, especially during price dips, but critics say they have lagged behind market highs, especially in recent years, as global prices have spiked.
In response, some farmers have joined the country’s gold rush, selling off land to informal miners — many of whom have left environmental destruction in their wake, further squeezing production.
Getting fair prices for farmers — at the bottom of cocoa’s global value chain — has long been a goal of both activists and West African governments, with fingers pointed at both private firms and buyers as well as official corruption.
Forson also announced the reintroduction of the government’s free cocoa fertiliser programme, which includes the distribution of fertilisers, insecticides, fungicides, spraying machines, and flower inducers to increase yields and income.