Connect with us

Society

Meet Wealthy Investors keeping Nigerians In Perpetual Darkness (Part 1)

Published

on

Power outages in Nigeria have certainly become a part of our everyday life, going by how long we have had to grapple with the situation. Unless something drastic is done, this abnormal phenomenon is not likely to end any time soon. However, in the past few months, the outages have assumed an embarrassingly high and alarming dimension with the power grid breaking down more frequently than it has ever happened over the past few years and plunging the nation in darkness for days, weeks and even months at a stretch in some parts of the country.

Worse still, the Minister of Power, Abubakar Aliyu, the Electricity Generating Companies and the Power Distribution Companies are trading blames over the situation. No one is willing to accept responsibility for the persistent power outages. Not even the Federal Government is willing to sanction these DISCOs and GENCOs or issue them ultimatums to do what they are meant to do. As with most issues in Nigeria, it has been business as usual. THEWILL has therefore compiled a list of wealthy investors who own electricity assets in Nigeria, so that people will know who to channel their displeasure at with hopes that they will eventually do the needful.

Femi Otedola

The billionaire investor is the major promoter of Amperion Power Distribution Limited (Geregu Power Plant) as chairman with Akin Akinfemiwa as the Chief Executive Officer.

Brigadier-General Tunde Ogbeha (retd.)

Although he is only a director in Mainstream Energy Solutions Limited in charge of Kainji Hydro Electric Plant and Jebba Hydro Station, Col. Sani Bello is the Chairman, while Alhaji Ismaila Isa is the Vice Chairman.

Engr Olubunmi Peters

He is the major investor in North South Power Company Limited in charge of Shiroro Power Station.

Tonye Cole

Although Tonye Cole is regarded as the face of KEPCO Energy Resources Limited in charge of Egbin Power Station, he however runs it with his partner, Tope Shonubi. They also invested in NEDC/KEPCO Consortium in charge of Ikeja Electricity Distribution Company with Kola Adesina as the Chairman. While the former is a power generating company, the latter is a power distribution company. Both Tonye and Tope are known for their popular oil and gas company, Sahara Energy.

Victor Osibodu

The embattled business man, who is fighting to keep his prized homes from being taken from him by Ecobank over alleged debts to the tune of $19m, is the Chairman of Vigeo Power Limited in charge of Benin Electricity Distribution Company. His wife, Funke Osibodu, a former Managing Director of Ecobank and Union Bank, is the Chief Executive Officer.

Alhaji Shehu Malami

He is the chairman of KANN Utility Consortium Company Limited in charge of Abuja Electricity Distribution Company. Neil Croucher, a Briton, is his Chief Executive Officer.

Alhaji Umaru Abdul Mutallab

The businessman and financier whose son, Umar Farouk, aka Underwear Bomber, is serving four life jail sentences and an additional 50 years in a US prison for attempting to detonate plastic explosives hidden in his underwear on board a US flight, is the chairman of Sahelian Power SPV Limited in charge of Kano Electricity Distribution Company. Alhaji Yusuf Hamisu Abubakar is the Chief Executive Officer of the power distribution company.

Augustine Nwokocha

He is the Chairman of 4Power Consortium Limited alongside the governors of Bayelsa, Cross River, Akwa Ibom and Rivers States. The distribution company is in charge of the Port Harcourt Electricity Distribution Company.

Tunde Ayeni

He is the Vice Chairman of and a major investor in Integrated Energy Distributing and Marketing Limited, with Ibadan Electricity Distribution Company and Yola Electricity Distribution Company as the company’s major assets. Although Captain Hosa Okunbo is his co-investor, with his demise, the current state of Okunbo’s investment is uncertain. A smart businessman, Ayeni made General Abdulsalami Abubakar the Chairman of the distribution company, while Dr. Sola Ayandele is the Chief Executive Officer.

Emeka Offor

The diminutive businessman, who has investments in the oil and gas industry, also has his tentacles spread in the power industry with his investment in Interstate Electrics Limited in charge of Enugu Electricity Distribution Company. He is the company’s Chairman.

Ernest Orji, Dere Otubu, Charles Momoh, Tunji Olowolafe & George Etomi

Although Ernest Orji is a director in West Power and Gas Limited in charge of Eko Electricity Distribution Company, he is a well known investor and businessman in corporate circles. He is the promoter of Southern Sun Hotel and was a non executive director in Finbank.

Charles Momoh formerly of Addax petroleum and one of the key directors of the company was the pioneer chairman of the distribution company but was recently replaced with Dere Otubu the chairman of Staco Insurance, SIC Property and Investment Company Limited, Staco Prime Capital Limited and Senforce Insurance Brokers.

Tunji Olowolafe, a serial investor and consummate business man, is also a director in the company, while George Etomi, SAN one of Nigeria’s most seasoned power sector and privatization legal experts, is also one of the founding directors in the company.

Alhaji Garba Mohammed Noma

He is the chairman of Aura Energy Limited in charge of Jos Electricity Distribution Company.

 

By; Ivory Nkonu

Society

Aviation Minister Celebrates Festive Season Through Generous Palliative Distribution In Delta

Published

on

By

 

In the spirit of the festive season, the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo SAN, has undertaken a remarkable act of goodwill, distributing a substantial array of food items to the people of Delta State. This benevolent initiative is aimed at fostering camaraderie and ensuring that the joy of the season is shared with all.

The extensive distribution exercise includes over 10,000 bags of rice, hundreds of cows, and rams, benefitting a wide spectrum of recipients including traditional rulers, party leaders, religious leaders, community leaders, opinion leaders, ethnic groups, and other key stakeholders. The gesture has been widely applauded as a demonstration of the Minister’s enduring connection with his roots and his commitment to the welfare of his people.

Speaking before the distribution commenced, Keyamo expressed his heartfelt motivation for this philanthropic effort, emphasizing the importance of giving back to a community that has shown him unwavering support throughout his journey. “This initiative is my humble way of reciprocating the kindness and generosity I have received from the people of Delta State. It is also an opportunity to celebrate the birth of our Lord Jesus Christ with my kith and kin,” he said.

Keyamo also used the occasion to call on Nigerians to support the Renewed Hope Agenda of President Bola Ahmed Tinubu, stressing the importance of collective effort in addressing the nation’s challenges. He underscored the need for unity, collaboration, and shared responsibility as critical factors for national development.

A proud son of Delta State, Keyamo has long been a champion of the Nigerian people’s welfare. His distinguished career as a lawyer, human rights activist, and public servant has been marked by an unwavering commitment to justice, equality, and fairness, earning him widespread admiration both at home and abroad.

The festive season distribution is yet another testament to his enduring dedication to the betterment of society and his determination to make a meaningful impact in the lives of his people.

Tunde Moshood
Special Adviser on Media and Communications to the Honourable Minister of Aviation and Aerospace Development

Continue Reading

Society

Late Samuel Ogbemudia’s daughter Eghe impeached as Egor council chairman

Published

on

By

The legislative arms of Egor Local Government Area of Edo State have impeached the council chairman, Eghe Ogbemudia, and the vice chairman, Frank Osawe.

The legislators also suspended the leader of the legislative arms, Bosede Omokaro, Majority Leader, Iwinosa Enabulele, and Elliot Inneh Enni, the Chief Whip.

The council’s chairman and vice chairman were impeached for alleged gross misconduct, abuse of office, financial misappropriation, unlawful withholding of statutory allowances of a principal member and three other council members as well as budget padding.

The principal officers of the council were allegedly suspended for inability to collaborate effectively with the local government chairmen, particularly in ensuring timely payment of salaries,

the two-month delay in councillors’ salaries, failure to provide effective oversight and neglect of responsibilities.

The motion for their impeachment was moved by Nosakhare Isiegbuwa, seconded by Stella Ogida Osagioduwa and signed by four legislators.

The suspension of the former principal officers of the legislative arms was passed by five members, with one member absent.

The House immediately swore in Kelvin Eguakun, the leader of the legislative arm, as the acting chairman of the council.

Moving the motion for the impeachment, Nosakhare Isiegbuwa, at plenary on Friday, December 27, 2024, said the report submitted by the seven-man panel appointed to probe the allegations of gross misconduct against the chairman and vice chairman found the duo guilty of all the allegations.

In a unanimous voice vote, the councillors impeached the chairman and vice chairman.

Society Reporters learnt that the impeachment proceedings were formally documented in the Edo State Government Gazette.

The gazetted document notified the affected officials of the initiation of impeachment proceedings in line with the Edo Local Government Bye-law on Pro-Action Notices, Legislative Privileges, and Impeachment Procedures For Elected Council Officials, 2024.

Society Reporters reports that the impeached council chairman, Eghe Ogbemudia, is the daughter of the late General Samuel Ogbemudia, the former military governor of the old Midwest and Bendel states.

He was also a civilian governor of old Bendel State in 1983. He ruled for three months before the government of Alhaji Shehu Shagari was overthrown by the former military government of General Muhammadu Buhari on December 31, 1983.

Continue Reading

Society

Kwara Governor, Abdulrazaq mourns late Chief of Staff, Abdulquadri Mahe

Published

on

By

Governor Abdulrahman Abdulrazaq of Kwara State has described his late Chief of Staff, Abdulquadri Mahe, as a perfect gentleman, community leader, urbane public servant and a statesman.

In a condolence message by his Chief Press Secretary, Rafiu Ajakaye in Ilorin on Saturday, governor Abdulrazaq said: ‘In total submission to the will of Allah, we regret to announce the passing of the Chief of Staff to His Excellency, Prince AbdulKadir Mahe.

“He died this morning, December 28, 2024, as has been destined by Allah.

“The late CoS will be buried today, Saturday, at his residence on Moro Street, Adewole Estate, Ilorin, after the Asr prayer.

“His Excellency deeply mourns the death of Prince AbdulKadir Mahe, a perfect gentleman, community leader, urbane public servant, and a statesman.”

The governor commiserated with the Emir of Ilorin, Dr. Ibrahim Sulu-Gambari, the immediate family of Prince AbdulKadir, government establishments and cabinet members.

“We ask for the understanding of everyone at this mournful period as the government and family mourn the quintessential public servant.

“We pray that Allah accept his return, ease his accounts, admit him to al-jannah Firdaus, and uphold his family upon goodness,” the statement added.

 

Continue Reading

Trending