Nigeria’s electricity generation peak has recorded a steady drop to 4,742.20 megawatts in the past three days.

This is according to the National Grid performance report from Thursday, 17 to 19 April 2025.

The report showed that electricity generation dropped by 531 megawatts in the last three days.

Accordingly, the system performance data indicated that the electricity generation peak stood at 5,273.80 megawatts on Thursday but dropped to 5,131.20 megawatts and 4,742.80 megawatts on Friday and Saturday.

The development comes days after the Minister of Power, Adebayo Adelabu, announced that Nigeria hit its highest energy peak of 5,801.63 MW.

On Thursday, Adelabu reiterated that the government is doing everything to avert a collapse of the country’s power sector and plans to partly offset the N4 trillion owed to the electricity generation companies.

Chinese state-backed funds are halting new investments in United States private equity.

According to the Financial Times on Monday, this marks a fresh escalation in China’s response to US President Donald Trump’s trade offensive.

The report added that several large Chinese investors have recently stopped committing capital to funds managed by US-based private equity firms, a move driven by pressure from Beijing.

In some cases, investors are also asking to be excluded from US deals altogether, even when the investment is led by non-American buyout firms.

This comes as trade tensions between the world’s two largest economies continue to mount.

In the past three weeks, the Trump administration has introduced tariffs of up to 145% on Chinese goods, while China has responded with levies reaching 125%.

Earlier this month, China restricted local companies from investing in the US amid a tariff war.

The International Monetary Fund (IMF) says Nigeria will navigate global shocks due to the reforms implemented by President Bola Tinubu.

Axel Schimmelpfennig, IMF mission chief for Nigeria, spoke during a visit to Lagos and Abuja from April 2 to 15, where he led a delegation to hold discussions for the 2025 Article IV Consultations with Nigeria.

The team met with Wale Edun, minister of finance and coordinating minister of the economy; Abubakar Kyari, minister of agriculture and food security; Yemi Cardoso, governor of the Central Bank of Nigeria (CBN); ministry of environment and other stakeholders in the private sector, academia, labour unions, and civil society.

In a statement by the IMF, Schimmelpfennig said authorities had taken “important steps” to stabilise the economy, enhance resilience, and support growth.

The steps, he noted, include ending the CBN’s financing of the fiscal deficit, removing costly petrol subsidy, and improving the functioning of the foreign exchange market.

“The Nigerian authorities have taken important steps to stabilise the economy, enhance resilience, and support growth,” Schimmelpfennig said.

“The financing of the fiscal deficit by the central bank has ceased, costly fuel subsidies were removed, and the functioning of the foreign exchange market has improved. Gains have yet to benefit all Nigerians as poverty and food insecurity remain high.

”The outlook is marked by significant uncertainty. Elevated global risk sentiment and lower oil prices impact the Nigerian economy.

“The reforms since 2023 have put the Nigerian economy in a better position to navigate this external environment. Looking ahead, macroeconomic policies need to further strengthen buffers and resilience, while creating enabling conditions for private sector-led growth.

“The authorities communicated to the mission that they will implement the 2025 budget in a manner that is responsive to the decline in international oil prices.”

‘TIGHT MONETARY POLICY REQUIRED TO CURB INFLATION’

The IMF official also recommended a neutral fiscal stance to support monetary policy in bringing down inflation.

He added that fiscal savings from petrol subsidy reforms should be channelled into the national budget to protect critical investments.

Schimmelpfennig further advised that the CBN maintain a tight monetary policy stance to curb inflation.

“In particular, adjustments should protect critical, growth-enhancing investment, while accelerating and broadening the delivery of cash transfers under the World Bank-supported program to provide relief to those experiencing food insecurity,” he said.

“A tight monetary policy stance is required to firmly guide inflation down.”

Schimmelpfennig said the monetary policy committee’s data-dependent approach has served Nigeria well and will help navigate elevated macroeconomic uncertainty.