Gunmen Abduct Ex-Minister Bayo Adelabu’s Sister and Twin Sons in Ibadan: A Shocking Morning Attack Amid Rising Insecurity in Oyo State

In a distressing incident that has sent shockwaves through Ibadan and beyond, armed gunmen abducted the younger sister of former Minister of Power, Chief Adebayo Adelabu, along with her 12-year-old twin sons on Wednesday morning, June 3, 2026.

According to a statement issued by the Adelabu family and confirmed by his media aide, Femi Awogboro:

• The victim is Mrs. Olaide Busayo Adegoke John-Paul, aged 43.
• She was driving her children to school around 7:30 a.m. when the attack occurred in the Elewura area of Challenge, Ibadan South West Local Government Area.
• The abductors forcefully took Mrs. John-Paul and her twin sons, Peter and Paul, from a white (or red, per some reports) Hyundai Sonata.

The family described the abduction as “unfortunate” and has appealed for calm while security agencies work to secure the victims’ safe release. No ransom demand has been publicly reported yet.
The Oyo State Police Command has confirmed that investigations are underway.Insecurity in Oyo StateThis incident comes amid fresh tensions in Ibadan and Oyo State, where cases of kidnapping and armed attacks have been on the rise. Residents and observers are increasingly concerned about the safety of families, especially in the capital.
Adebayo Adelabu, a prominent APC figure and 2027 gubernatorial aspirant in Oyo State, is well-known across Nigeria for his time as Minister of Power. This personal attack on his family has drawn widespread attention and condemnation on social media.Family’s AppealIn their statement, the Adelabu family urged the public to remain calm and support ongoing efforts by security forces. They expressed deep distress over the event but emphasized hope for a swift and safe resolution.

Nigeria Declines $717.7 Million World Bank Power Loan: A Setback for Electricity Reforms Amid Persistent Blackouts

In a significant development on May 26, 2026, the Federal Government of Nigeria has formally cancelled $717.7 million in undisbursed financing from the World Bank. This move effectively ends the remaining portion of a $1.52 billion Power Sector Recovery Performance-Based Operation, a program originally designed to revive the country's struggling electricity sector.

Background of the Programme

The initiative started in 2020 with about $752.5 million to improve electricity supply reliability, reduce tariff shortfalls, and strengthen financial sustainability in the power value chain. An additional $763.5 million was approved in 2023 to build on early gains, extending the closing date to June 2027.
The parent program saw notable successes: tariff shortfalls dropped 71% between 2019 and 2022 (from N581 billion to N166 billion), regulatory cost recovery improved from 56% to 94%, and electricity supplied to the grid rose 13% from 2018 to 2021. All key indicators were achieved, and most funds disbursed.
However, the additional financing struggled. Only about 9% was disbursed due to macroeconomic shocks, particularly the 2023 foreign exchange liberalization that caused sharp naira depreciation. This inflated natural gas costs (used for over 70% of grid power), while tariffs remained largely frozen, ballooning annual shortfalls to around N1.9 trillion in 2024 and 2025.

Tinubu Shakes Up the Ministry of Finance: Wale Edun Out, Taiwo Oyedele In

President Bola Ahmed Tinubu has approved a minor cabinet reshuffle, relieving Mr. Wale Edun of his position as Minister of Finance and Coordinating Minister of the Economy.

In his place, Mr. Taiwo Oyedele, who was previously the Minister of State for Finance and Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms has been elevated to the full role of Minister of Finance and Coordinating Minister of the Economy.
The presidency directed the outgoing ministers to complete their handover processes by close of business on Thursday, April 23, 2026.What really Happened?The announcement came on Tuesday, April 21, 2026, via a memo from the Secretary to the Government of the Federation. Alongside the Finance Ministry change, President Tinubu also removed Arc. Ahmed Musa Dangiwa as Minister of Housing and Urban Development, nominating Dr. Muttaqha Rabe Darma as the new minister-designate for that portfolio.
Wale Edun, a long-time ally of President Tinubu from their Lagos days, had served in the role since 2023. His tenure focused on major economic reforms, including the naira float, fuel subsidy removal, tax reforms, and efforts to attract foreign investment as part of the administration’s $1 trillion economy agenda.Why the sudden change?The Presidency described the reshuffle as a move “to strengthen cohesion, synergy, and ensure more impactful delivery on the economy.”
However, there have been murmurs of underlying issues:

• Complaints from other ministers and lawmakers about slow release of capital budgets, leading to low implementation of the 2025 and 2026 budgets.
• Delays in paying contractors and challenges with the January–December budget cycle.
• Broader economic pressures, including high cost of living and heavy debt servicing.

Public reactions on social media have been mixed. Some praised Edun’s technocratic approach, while others welcomed the change, hoping for faster budget execution and better coordination under the new leadership.