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X-energy stock pops 27% on first day of trading following upsized IPO

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X-energy’s stock popped today in its debut on the Nasdaq, opening at $30.11 before closing at $29.20, up 27% over its initial public offering of $23 per share.

Investors can’t get enough nuclear power, apparently. Even the initial share price had been revised upward from the $16 to $19 target floated by the company during its investor roadshow. At close, the company was valued at $11.5 billion.

Just five years ago, such interest in a nuclear startup would have come as a surprise to many. 

Back then, the nuclear industry was haunted by delayed projects and massive cost overruns at recently completed reactors. Two power plants were completed in Georgia — one in the late 2010s and another in the early 2020s. In total, they cost around $30 billion to build.

Nuclear startups in the early 2020s were in their infancy, and at least one frontrunner had run into significant regulatory problems, sparking fears that the industry hadn’t been able to put its past behind it.

Now, investors appear optimistic that X-energy and its peers have figured out a way around the challenges.

Much of the momentum can be traced to the AI-driven data center boom. GPUs need tremendous amounts of electricity, and while solar, wind, batteries, and natural gas have been filling the need today, tech companies have been hoping to diversify. Nuclear power is one of the many options they’ve been exploring, hoping that the compact form factor will be an ideal fit for their sprawling data centers.

Nuclear power has long had more potential to power the U.S. grid than it has been able to deliver. Today, about 18% of electricity in the country comes from nuclear power. But reactor costs have risen in recent decades. Nuclear power might be one of the most reliable sources of electricity in the U.S., but it’s also one of the most expensive.

X-energy’s 80-megawatt reactor design is an order of magnitude smaller than many existing nuclear power plants. The company is betting that modularity can help bring costs down, and data center operators are hoping that a single campus can be powered by a fleet of reactors, providing the sort of redundancy and stability they prize. Amazon has said it will buy up to 5 gigawatts worth of capacity from X-energy over the next decade or so, but chemical maker Dow will receive the startup’s first power plant. 

Construction is underway at X-energy’s fuel facility, and while the company has yet to start construction of a power plant, investors appear bullish that the company will be able to break nuclear power free from its decades-long malaise. 

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Party Deregistration: ADC youth wing petitions NJC, demands Lifu’s removal

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The National Youth Wing of the opposition African Democratic Congress, ADC) has written a formal petition against Justice Peter Odo Lifu, demanding his removal “from any and all adjudicatory matters, reviews, or decision-making roles concerning the ADC.”

The petition, dated June 18, 2026, was addressed to the Executive Secretary, National Judicial Council (NJC), and signed by the ADC’s national youth leader, Comrade Balarabe Rufai. 

While reading the content of the petition to media in front of the ADC National Secretariat, Comrade Rufai, who was represented by Comrade Ibrahim Garba Wala, alleged that there were attempts to prevent them from submitting the petition at the NJC. 

According to him, all roads leading to the NJC, on Thursday were barricaded by heavily armed security agents; hence, the need to present the petition to the public. 

The petition reads, “We demand the immediate, total removal of Hon. Justice Peter Odo Lifu from any and all adjudicatory matters, reviews, or decision-making roles concerning the ADC. Furthermore, given his pattern of flagrant judicial rascality, we explicitly demand that the National Judicial Council recommend his absolute dismissal from the Nigerian judiciary to preserve the fading credibility of the bench.

“Our democratic architecture is under a coordinated assault by compromised custodians of the law. Under suit number FHC/ABJ/CS/2637/2026, Hon. Justice Peter Odo Lifu delivered a highly controversial ruling ordering the Independent National Electoral Commission (INEC) to deregister the ADC and four other political parties. This judgment is not an honest legal error; it is a calculated, politically motivated act designed to shrink the democratic space in Nigeria and artificially consolidate a two-party monopoly.”

While lamenting what he described as “legal distortions and judicial rascality tying Justice Lifu to this systemic compromise,” the ADC Youth leader said, “Justice Lifu brazenly proceeded with this judgment despite a binding Court of Appeal order that explicitly stayed proceedings on this matter, a move that subverts the sacred doctrine of stare decisis and constitutes gross misconduct.”

“The bench looked away as the plaintiffs, the Incorporated Trustees of the National Forum of Former Legislators, clandestinely altered their legal personality midway through the process without a valid court order.

“While the NJC has previously dismissed certain claims due to standard procedural hurdles, the persistence of these identical accusations across multiple petitions—including those by the Chairman of the Boot Party—proves a systemic erosion of public trust.

“We cannot watch the political rights of millions of young Nigerians be auctioned off by compromised benches. The continuous involvement of Justice Lifu in ADC affairs completely destroys public trust and makes a mockery of fair hearings. As the protectors of our nation’s future, we declare that when the bench compromises its integrity, the youth will become the courtroom of public conscience. The ballot box belongs to us, and we will not allow any court to rob us of our political expression.”

“Until the Council acts to protect institutional integrity, enforces discipline, completely recuses this individual from our affairs, and begins the process for his immediate sack from the bench. Respectfully submitted on behalf of the Nigerian youth during a live protest.”

This comes as Lifu, in a judgment, ordered the Independent National Electoral Commission to deregister five opposition parties, including ADC. 

However, following widespread condemnation, the appeal court ordered a stay of execution of the judgment. 

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IPCR, SFCG urge action to save democracy from conflict drivers

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The Institute for Peace and Conflict Resolution (IPCR) and Search for Common Ground (SFCG) have called for efforts to address conflict drivers threatening democracy.

The organisations made the call on Thursday in Abuja at a joint news conference to commemorate the 2026 Democracy Day.

The Director-General of IPCR, Dr Joseph Ochogwu, said democracy remained the best form of government and depended on active citizen participation.

According to him, weak civic engagement, voter apathy and poor democratic culture continue to challenge democratic consolidation in Nigeria.

Mr Ochogwu said IPCR’s conflict assessments showed that many pressures on democracy stemmed from citizen disengagement rather than democracy itself.

He urged Nigerians, especially youths, to participate actively in elections and governance processes to strengthen democratic institutions.

The IPCR boss described electoral violence, intimidation and coercive political practices as serious threats to democratic development.

He called on political actors, electoral institutions, security agencies, media organisations and civil society groups to promote peaceful political engagement.

Mr Ochogwu also expressed concern over the increasing monetisation of politics, saying it excluded ordinary citizens from meaningful participation.

He identified terrorism, banditry, organised crime and violent extremism as major threats undermining governance and public confidence in institutions.

Responding to questions, Mr Ochogwu said insecurity would not prevent the conduct of elections in 2027.

He urged Nigerians not to lose hope in the country and to continue supporting democratic processes.

The Director of Programmes, Search for Common Ground,  Gift Omoniwa, said protecting democracy required addressing insecurity and conflict drivers.

Mrs Omoniwa said banditry, kidnapping and violent extremism continued to threaten peace, stability and democratic governance across Nigeria.

She stressed the need for inclusive approaches that address root causes of conflict and promote peaceful coexistence.

According to her, vulnerable youths remain targets for recruitment by violent groups, posing risks to national security and democracy.

She advocated greater youth empowerment, economic opportunities and meaningful participation in governance processes.

Mrs Omoniwa disclosed that SFCG and IPCR recently conducted conflict assessments in Benue, Nasarawa, Plateau and Taraba states.

She said the findings were being shared with stakeholders to support evidence-based interventions and conflict prevention efforts.

The interventions include strengthening early warning systems, peace committees and livelihood programmes in affected communities.

Mrs Omoniwa expressed confidence that the measures would support peaceful and credible elections in 2027.

She reaffirmed SFCG’s commitment to working with government institutions, civil society groups and communities to promote peace and democratic governance. 

(NAN)

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