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Minister of State for Petroleum Resources Oil Senator Heineken Lokpobiri has said the divestments by the International Oil Companies (IOCs) in the Nigerian petroleum upstream sector have added 200,000 barrels per to national production.

He also said the divestments have unlocked over $5.5 billion in final investment decisions (FIDs) within months.

Lokpobiri spoke on behalf of President Bola Tinubu at the Africa Energy Week in Cape Town, South Africa.

He declared that Nigeria is ‘open for business’ and actively pursuing policies that prioritise investment, efficiency, and long-term growth in the oil sector.

‘This gathering is more than a conference, it is a call to action,’ he said, stressing that Nigeria is ready not just to participate in the global energy market, but to lead reform and growth on the African continent.

Lokpobiri outlined the bold policy measures implemented under President Tinubu’s administration, particularly the Petroleum Industry Act (PIA), which provides a clear and predictable fiscal and regulatory environment for investors.

The PIA has laid the foundation for licensing transparency, host community engagement, strengthened regulatory oversight, and a fair contractual framework. ‘What makes Nigeria now different is the legal, regulatory, financial, and structural transformation we are delivering,’ the Minister said.

Nigeria’s upstream sector is showing signs of strong recovery. The ‘Project One Million Barrels’ initiative, launched in October 2024, has raised daily crude oil production to between 1.7 and 1.83 million barrels per day, with a notable increase of 300,000 barrels per day in July 2025 alone.

Additionally, the number of active drilling rigs has grown from 31 in January to 50 by July 2025, a clear signal that reforms are unlocking value across the sector.

Of particular note were the recent asset divestments by international oil companies (IOCs), which the Minister said have unlocked over $5.5 billion in final investment decisions (FIDs) within months.

‘These are not just transfers of assets, they are transfers of confidence, capability, and ownership.

The divestments have already added approximately 200,000 barrels per day to national production.’

On the broader African context, Lokpobiri urged the continent to retain more value from its hydrocarbon resources by focusing on infrastructure, industrial development, and localized value chains. He noted that Africa spends over $120 billion annually on hydrocarbons, largely through imports, calling it a missed opportunity for economic transformation.

He advocated for stronger intra-African collaboration and financing, emphasizing that Africa holds nearly $4 trillion in domestic capital, including pension and insurance funds. ‘The question is no longer about the availability of funds, but how we can channel them into productive investments on our continent,’ he said.

Addressing the topic of the global energy conversation, the Minister called for balance and equity. He insisted that the narrative must shift toward a diverse energy mix, not abandonment of any resource. ‘The focus should be on availability, accessibility, and affordability of all forms of energy,’ he stressed. He made it clear that Nigeria, like other nations, will continue to utilize its oil resources responsibly while building a diversified and sustainable energy base.

Lokpobiri reaffirmed Nigeria’s role as a leading energy player in Africa. ‘We are offering opportunities at scale, reform with consistency, incentives with clarity, local participation with respect, and a vision that modernizes with purpose,’ he declared.

To global investors, he extended a direct invitation: ‘Come to Nigeria. Be part of the energy revolution.’ With strong reforms, ambitious targets, and an open-door policy, Nigeria is charting a bold path forward in Africa’s energy future.

The Nigerian music scene has just been electrified with the release of Fortune, the highly anticipated 7-track EP from fast-rising Afro-Fusion artist, Enielayefa Fortune Ebikake, popularly known as Iv Tune.

The project, which officially dropped on October 3, 2025, is already making waves with its standout track; Rock Your Body, a smooth, flirty, and irresistible anthem that’s fast becoming a fan favorite. With its playful lyrics, magnetic rhythm, and dance-ready beat, the track is primed to dominate playlists, nightclubs, and TikTok challenges nationwide.

With Fortune, Iv Tune not only proves his artistry but also positions himself as a global export in the making. The song is pure vibes and versatility on display.

Iv Tune effortlessly blends Afrobeats, RnB, and global sounds into one dynamic wave of music. From the hustle-driven urgency of Time Is Money, to the fiery heat of Fire On Me, and the uplifting energy of Come Alive, this EP hits every mood.

It’s both personal and universal, a true soundtrack of ambition, love, struggle, and joy.

‘Speaking on the release, the musician said: ‘This EP is me stepping into my destiny. Each song reflects my journey – the struggles, the dreams, the wins.

Fortune is about embracing life’s challenges and still finding reasons to dance, to live, and to believe.’ Now streaming on all major platforms, Fortune comes with a vibrant promotional rollout.

The Nigeria Deposit Insurance Corporation (NDIC) has said that nearly all depositors in Nigeria’s financial system are adequately protected under its enhanced coverage framework.

Speaking at the Corporation’s Special Day at the ongoing Abuja International Trade Fair on Thursday, the Managing Director and Chief Executive of NDIC, Mr. Thompson Oludare Sunday, disclosed that 98.98 per cent of depositors in Deposit Money Banks (DMBs), 99.27 per cent in Microfinance Banks (MFBs), 99.34 per cent in Primary Mortgage Banks (PMBs), and 99.99 per cent in Payment Service Banks (PSBs) are fully covered.

According to him, the expansion in coverage was achieved through the upward review of the maximum deposit insurance limit across various bank categories.

‘Currently, the NDIC insures depositors of Deposit Money Banks, Mobile Money Operators, and Non-Interest Banks up to a coverage limit of five million naira,’ Sunday said. ‘Depositors of Payment Service Banks, Microfinance Banks, and Primary Mortgage Banks are insured up to two million naira.

This provides stronger assurance to millions of Nigerians that their savings are safe.’

The NDIC boss cautioned Nigerians to be wary of fraudulent financial schemes warning that ‘It is important for Nigerians to remain vigilant against Ponzi schemes and other fraudulent investment platforms. Always ensure your funds are placed only in Central Bank of Nigeria licensed banks, all of which are covered by deposit insurance provided by the NDIC. This vigilance is crucial to protecting your hard-earned savings,’ he said.

He explained that in the event of bank failure, depositors with funds above the insured limit first receive an initial payout up to the maximum coverage, while balances above that amount are settled through liquidation dividends.

‘Liquidation dividends refer to payouts made to depositors and creditors from proceeds generated from the sale of a failed bank’s assets and recovered debts,’ he noted. ‘These are paid on a pro-rata basis, meaning depositors receive a proportionate share of the recovered funds relative to their outstanding balances beyond the insured limit.’

Citing a recent case, Sunday referenced the revocation of Heritage Bank’s license on June 3, 2024. He said NDIC promptly reimbursed insured depositors using the Bank Verification Number (BVN) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) to identify alternate accounts for payment.

‘Depositors with sums exceeding five million naira were first paid up to the insured amount, and liquidation dividends are being paid subsequently from recovered assets and debts,’ he explained. ‘The first tranche of liquidation dividends commenced on April 25, 2025, and payments continue as the Corporation realises asset sales and debt recoveries. This approach demonstrates NDIC’s effectiveness in ensuring comprehensive depositor protection and financial stability.’

Earlier, the President of the Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, represented by Sir Agaba Idu Jideani, said the theme of this year’s trade fair – Sustainability, Consumption, Incentives, and Taxation – reflects the need to build resilient institutions and inclusive economic growth.

‘We are pleased to note the alignment between this theme and the mandates of NDIC, which provides a safety net for depositors, contributes to financial system stability, and supports confidence in our banking sector,’ Obegolu said. ‘The Corporation’s four broad mandates – Deposit Guarantee, Banking Supervision, Pension Resolution, and Banking Regulation – are fundamental pillars of Nigeria’s financial ecosystem.’

He said NDIC’s role is critical for businesses, particularly small and medium-sized enterprises (SMEs), as it ensures access to stable financial services and fosters confidence in investment.

‘By extending deposit insurance coverage beyond deposit money banks to include microfinance banks, mortgage banks, non-interest banks, payment service banks, and mobile money operators, NDIC has shown responsiveness to the evolving dynamics of Nigeria’s financial landscape,’ he added. ‘These interventions not only protect depositors but also create a more enabled environment for SMEs and entrepreneurs to participate confidently in the economy.’

The ACCI president also called for stronger recognition of women in enterprise. ‘At the Abuja Chamber of Commerce and Industry, we have established a gender policy and introduced a national definition of women-owned businesses, which we are advocating for widespread adoption. If we accept that women make up at least half of the population, then recognising and strengthening their capacity in business is not only sensible but essential for national growth,’ he said.

The Lagos Chamber of Commerce and Industry (LCCI) have called for greater private sector collaboration, innovation and investment to drive sustainable transformation in Nigeria’s tourism sector.

The call was made as the Chamber joined the global community to commemorate World Tourism Day 2025, themed ‘Sustainable Transformation in Tourism.’

The event convened stakeholders from hospitality, agribusiness, and the creative industries to explore new growth opportunities for Lagos and Nigeria at large.

In his welcome remarks, Vice Chairman of the LCCI Hotel and Tourism Sector and Secretary of the Board of Trustees, Eko Tourism Foundation, Dr. Tunde Lawrenson, stressed the importance of partnerships and investment as vehicles for sustainability.

LCCI President, Gabriel Idahosa, noted that while challenges remain in the sector, collaboration among private players remains a panacea to unlocking tourism’s potential. He cautioned against over-reliance on government and urged stakeholders to leverage Nigeria’s globally recognized creative industry to boost tourism. He also downplayed insecurity narratives, pointing out that several thriving global destinations contend with similar challenges.

In his keynote address, former President of the Association of Tourism Practitioners of Nigeria, Comrade Hassan Zakari, emphasized deliberate investment in infrastructure and agri-tourism as essential for long-term industry growth.

Other contributors included Pastor (Dr.) Olarewaju Saba, MD/CEO of St. Chris Properties and Investment Ltd; Dr. Amb. Daniel Olabintan, Chairman of the Elders Group, Travel and Tour; and Mr. Aderoju Owosanya, representing the Chairman/CEO of Xtralarge Farms and Resorts.

An interactive panel session allowed participants to engage directly with industry leaders on pressing issues such as youth participation, infrastructure, and the promotion of local tourism.

At the close of the event, a communiqué outlined resolutions such as increasing Gen Z and youth involvement in tourism development, promoting local tourism through music, film, and cultural heritage, strengthening partnerships across agriculture, hospitality, and the creative economy.

With Lagos as a focal point, this year’s celebration spotlighted agri-tourism and infrastructure investment as critical to repositioning Nigeria’s tourism industry for sustainable growth and global competitiveness.

Borno State Governor Babagana Umara Zulum has visited the Diffa Region of Niger Republic to strengthen collaboration in the fight against insurgency along the Nigeria-Niger border.

The visit, which included a high-level security and economic delegation, focused on joint patrols, intelligence sharing, and sustaining the gains recorded in clearing insurgents from parts of the Lake Chad basin.

Diffa, located about 17 kilometres from Damasak town in Borno, currently hosts thousands of Nigerians displaced by the Boko Haram insurgency.

Zulum was received by the Governor of Diffa, Brig.-Gen. Mahamaduo Bagadoma, and other senior officials.

Both leaders held closed-door talks on improving cross-border security and stabilising communities affected by insurgency.

Speaking after the meeting, Zulum said the improved security situation in the region would be leveraged to facilitate the return of displaced farmers to their agricultural lands around Dutchi town within the Lake Chad basin.

The Borno State governor expressed optimism that enhanced cooperation between Nigerian and Nigerien forces would help to end cross-border insecurity and promote socio-economic recovery in affected communities.

Bagadoma haied Zulum for the visit and assured him of Niger’s continued commitment towards supporting activities that would restore peace.

Three suits challenging the declaration of emergency rule, the suspension of elected officials and activities of the appointed administrator in Rivers State were yesterday dismissed by a Federal High Court in Abuja.

Justice James Omotosho, in three decisions held that, not only were the cases filed in a wrong court – the Federal High Court – which lacked the necessary justification, the plaintiffs were without the requisite locus standi (the right to approach the court on the issues raised).

The first suit was filed by Belema Briggs, Princess Wai-Ogosu, I. Acho, Emmanuel Mark and Hadassa Ada, who claimed to have sued for themselves and residents of Rivers State.

They listed the President , the Attorney General of the Federation, Vice Admiral Ibok-Ette Ibas (retired) and the Nigerian Navy as defendants.

The plaintiffs queried the emergency declaration, the suspension of elected officials including Governor Siminalayi Fubara, the appointment of an administrator and among others, prayed the court to void them.

In the judgment yesterday, Justice Omotosho upheld the preliminary objection raised by the defendants and dismissed the suit.

In holding that the plaintiffs lacked locus standi, Justice Omotosho held that they could not, on their own file a suit to address the interest of all the residents of a state, moreso when none of the suspended officials was made a party to the suit.

The judge found that the plaintiffs, who claimed to be residents of Rivers did not show that they were more affected by the decision than the elected officials, who were suspended or other residents of the state, nor obtained the permission of the state’s Attorney General before approaching the court.

In holding that the court lacked jurisdiction to hear the suit, Justice Omotosho held that it was the law that issues arising or connected with a declaration of state of emergency is within the exclusive jurisdiction of the Supreme Court by virtue of Section 1 (1) and (2) of the Emergency Powers (Jurisdiction) Act, 1962.

He added that the same statute has been modified by the Emergency Powers (Jurisdiction) Act (Modification) Order, 2025.

The judge faulted the plaintiffs’ claim that, as voters, their fundamental rights to enjoy democratic government was taken away from them by the emergency declaration, which they argued amounted to coup against Rivers’ residents.

He said: ‘The plaintiffs’ claim that their fundamental rights were breached as a result of these actions holds no water, as Section 45 (1) of the Constitution permits the derogation of rights in the interest of public order and public safety.

‘The facts before the court all show that Rivers State was on the brink of anarchy, and allowing matters to flow in the normal course was only going to lead to severe breakdown of law and order.

‘Consequently, it was necessary that in the interest of public safety and public order that the President suspended the Governor, Deputy Governor and members of the Rivers State House of Assembly and also appoint the 3rd defendant, who is a retired Naval officer to ensure peace in the state,’ he said.

Justice Omotosho also faulted the plaintiffs’ contention that conditions precedent to warrant a declaration of state of emergency were not available as at March 18 when the proclamation was made.

He said: ‘To begin this discourse, it is important to examine if the President of the Federal Republic of Nigeria has powers to declare a state of emergency in any state in Nigeria as this is the starting point for the suspension of the Governor, the Deputy Governor and the members of the House of Assembly of Rivers State.

‘The President of the Federal Republic of Nigeria is the custodian of executive powers in Nigeria. He is vested with enormous powers to discharge his duties including the duty to ensure the safety of lives and properties within the country.

‘One of the distinct powers of the President is the power to proclaim a state of emergency in Nigeria, throughout the federation or in a part of the Federation.

‘This power is enshrined in Section 305 (3) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

‘A state of emergency is usually not a planned event and it is not an event which the law can fully capture as there are several instances which may necessitate the declaration of a state of emergency, such as natural disaster, religious crisis or a political crisis among others.

‘An imminent threat or present danger to the Federation of Nigeria or a part of it is a ground for declaring a state of emergency as done in this case.

‘Once the proclamation of the state of emergency is ratified by the National Assembly, the power to administer the emergency area vests exclusively in the President.

‘He (the President) is then empowered to take measures to restore peace and order to the affected area, including the appointment of the 3rd defendant as Sole Administrator and stationing of the 4th defendant in strategic locations in the state as the case may be.

‘The findings of this court, with regards to the facts before it, shows that there were reasonable grounds for the President to declare a state of emergency in Rivers State.

‘The Governor, Deputy Governor and Members of the House of Assembly were suspended for a period of time and not removed from office and the President exercised his discretion in appointing a Sole Administrator as he saw fit.

‘All these actions were aimed at ensuring peace and security in the state.

‘The issue raised by the plaintiffs that the President did not secure the required two third majority of the members of each house of the National Assembly is not what can be resolved through affidavit evidence, but by a writ of summons where witnesses will be called and cross examined,’ the judge said.

The two other decisions were rulings on the suits filed by two groups. One was by The Incorporated Trustees of Rivsbridge Peace Initiative.

It had six defendants – the President, the Attorney General of the Federation (AGF), the Accountant General of the Federation (AG-F), the Central Bank of Nigeria (CBN) and Vice Admiral Ibok-Ete Ibas (retired).

The suit had queried Ibas’ appointment and sought to among others, restrain the President, the AGF and the AG-F from releasing from belonging to Rivers State in the Consolidated Revenue Funds to Ibas.

The second suit filed by Pilex Centre for Civic Education Initiative and Courage Nsirimovu had Ibas as the sole defendant.

The suit which also queried the legitimacy of Ibas’ appointment, prayed the court to, among others, restrain the administrator from appointing sole administrators for the state’s 23 local government areas.

In the two rulings, Justice Omotosho upheld the objection raised by lawyers to the defendants, including Kehinde Ogunwumiju (SAN), who represented Ibas and dismissed the suits on the grounds of lack of jurisdiction and want of locus standi.

The judge expressed displeasure at the conduct of lawyers to the plaintiffs’, who he noted, failed to conduct adequate research before filing the suits.

Justice Omotosho said: ‘I must not fail to say here that counsel to the plaintiffs ought to make proper research regarding his case before filing same.

‘He must make diligent research as to which court has jurisdiction and the necessary parties in that suit before filing his action.

‘Counsel has the duty to be professional in making such research rather than spending time spreading misinformation or painting the wrong picture on social media and other broadcast media.

‘This court is saddled with a lot of cases including commercial, civil and criminal matters, which makes its time very precious.

‘Filing suits which are void ab initio is inimical to the course of justice and the court can suo motu non suit such void suit in order to save its time.

‘| therefore hold that a void process cannot activate the jurisdiction of this court.

‘In final analysis, the suit of the plaintiffs is outside the subject matter jurisdiction of this court, the plaintiffs themselves lack locus standi to maintain this action.

‘Even if this court could exercise jurisdiction over this matter, the weight of evidence tilts heavily in favour of the defendants.

‘Consequently, this suit is hereby dismissed in its entirety,’ the judge said.

Abia Warriors and Kwara United secured crucial home wins in their rescheduled games played yesterday to move up the ladder of the Nigeria Premier Football League.

Both were involved in CAF Confederation Cup games and were eliminated by Djoliba Athletic Club of Mali and Asante Kotoko of Ghana in the first preliminary round.

Abia Warriors beat Remo Stars 2-0 through the goals of Emeka Obioma and Sunday Megwo in the 28th and 60th minutes. The second goal came from the penalty spot. With the victory, Abia Warriors have moved to the fourth spot with nine points from five games while the Sky Blue Stars slid to the 14th spot with seven points from five games.

The Umuchineke Boys will travel to Ilorin as guests of Kwara United who triumphed over Plateau United 2-1 in another rescheduled game dubbed the North Central derby played yesterday in Ilorin.

Junior Aimufua put the Harmony Boys in the lead in the dying minute of the first half. The Peace Boys equalised in the 58th minute through Vincent Temitope but Kwara United had the last laugh when Aule Johnmark struck in the 79th minute off a goal mouth scramble.

Kwara United have moved to the seventh spot with eight points.

Utica Capital Limited yesterday launched a N20 billion fund to support film makers in all stages of film production, a groundbreaking move for Nigeria’s creative economy.

The N20 billion Utica Film Fund is Nigeria’s first licensed venture capital fund for the Nigerian film industry, popularly known as Nollywood.

Utica Film Fund is a specialised film-investment vehicle that supports filmmakers at various stages-preproduction, production, and distribution-by providing financing, strategic counsel, and mentorship.

Speaking at the launch of the fund in Lagos, Chairman, Utica Capital Limited, Dr. Adesegun Akin-Olugbade, said the Utica Film Fund came to fill the gap of underfunding, which has undermined the development of the film industry.

According to him, the twofold vision of the fund is to deliver superior value to investors and to elevate Nollywood from a local standard by providing the financing needed for world-class production, wider distribution, and sustainable growth.

He said the launch was the beginning of a new chapter where Nollywood would no longer be underfunded, but globally empowered.

He called on pension fund managers, insurance fund managers, and private investors to seize the opportunity to invest in the Utica Film Fund, which has opened for subscription.

He pointed out that by investing in the Utica Film Fund, investors are not only seeking attractive financial returns, but also investing in Nigeria’s cultural legacy, job creation, and global reputation.

He said: ‘Today, we are not just launching an investment product – we are making history. For the first time in Nigeria, and in Africa, the Securities and Exchange Commission, under its regulatory authority, has approved a specialised capital fund dedicated to the film industry. The Utica Film Fund is therefore a pioneer, where creativity is finally brought into the center stage.

‘Why does this matter? Because Nollywood is more than entertainment. It is a cultural powerhouse, a billion-dollar industry, and one of Nigeria’s greatest exports to the world. Every day, over 35 million people consume Nollywood content. Our films travel across borders and reach diverse sections of Africa and beyond.

‘Yet, for too long, this industry has been underfunded – relying on personal savings, informal loans, and small-scale investments. The Utica Film Fund changes that. Through a restructured, SEC-approved, professionally managed vehicle, we are creating channels for institutional investors to participate in the growth of Nollywood, while also earning returns.

‘This is not charity. This is smart investing, strong governance, and portfolio diversification’.

Managing Director, Utica Capital Limited, Mr. Ola Belgore said the fund aims at supporting films and film-adjacent projects that have strong commercial potential and can generate predictable cash flows.

According to him, by introducing venture capital discipline into the sector, the fund aims to position Nollywood as a globally competitive industry capable of generating sustainable returns while amplifying Nigerian culture and creativity on the world stage

He said the fund would support both emerging and established filmmakers with projects that demonstrate strong storytelling, financial viability, and international market potential.

He said the fund has already announced plans to issue its first call for film proposals before the end of 2025, inviting Nigerian filmmakers to pitch their projects for potential financing.

He noted that the fund would spark a new golden era for Nollywood, one where creativity is matched with capital, and storytelling meets sustainability.

He explained that N20 billion Utica Film Fund would be offered in tranches with the first tranche of N5 billion now open for subscription.

He noted that the fund was rated A-, making it suitable for institutional investors.

‘This fund is designed for the Nigerian market and economy. Talking about its impact, it has the potential to significantly contribute to economic growth. However, it is designed only for qualified investors – people who understand the need for long-term investing and the value it brings. It is not for investors who bring in N10 million today and expect to withdraw it next week. We will need time for the fund to fully come to life. That is why it is reserved for qualified investors, with a minimum investment threshold of N10 million.

‘The benefits are clear. It provides diversification, especially for institutional investors, asset managers, insurance funds, and pension funds. This is an opportunity for them to diversify beyond their traditional portfolios. There is also equity within the fund, even though it is structured to mature from second year, over the next 10 years, ultimately closing on the N20 billion target,’ Belgore said.

He pointed out that the Utica Film Fund would contribute meaningfully to the Nigerian economy, creating significant job opportunities.

He said: ‘On average, 200 movies are produced annually, and this presents a powerful opportunity for growth. Nollywood is the second-largest film industry in the world in terms of production, after Bollywood – and there are case studies and proof to support this. Utica Capital has been in existence for 4 years, and the people involved in this journey have the experience and expertise to make it succeed’.

A major highlight of the launch was the unveiling of the Advisory Committee, which included respected figures from film, law, and culture. Members included Mr Ola Belgore, Dr Adesegun Akin-Olugbade, Chairman of the committee; Mr Abimbola Kazeem, Sani Mu’azu, a filmmaker; kachi Offiah, Femi Adebayo, a film producer; Richard Mofe Damijo, a respected cultural ambassador and Mrs Omoni Oboli.

Transaction parties to the Utica Film Fund included FSDH Capital and Emerging Africa, issuing houses; STL Trustee and CardinalStone, trustees and First Bank of Nigeria as Custodian to the fund and ALR and Co as Solicitor to the fund among others.

Prof Ojo Emmanuel Ademola, a management consultatnt highlights the qualities of All Progressives Congress (APC) presidential candidate Asiwaju Bola Tinubu in the art of creating wealth for the people.

When it comes to the upcoming presidential election in 2023, Nigerians will have two options: They will either deplete the massive transformation efforts of the current Buhari government, or will elect a resolute transformer who combines the core qualities of an actual master-wealth creator to lead the country to the promised land. We can only strategize against the defenestration of the country and its infrastructure to the state it was before Buhari took office. When it comes to Asiwaju Bola Ahmed Tinubu’s transformational capacity, comprehension, qualities of creating wealth, using diversity to boost productivity as an outcome, and application of governance tools for the benefit of the people, he stands head and shoulders above the other candidates in this election.

With Asiwaju as the President come from 2023, Nigerians will fulfil the greatest call of generations to have a president who indeed is a real master in wealth creation, both in private and public sectors. We know that to be great leaders, you need a great team. Identifying your Wealth Creators would unlock your national potentials. The individuals who take the Country to the next level are the wealth creators. Asiwaju is the real master of wealth creation across the board, of all the candidates vying to succeed Buhari.

The tenacity and resilience of wealth creators define Asiwaju Bola Ahmed Tinubu. He can, however, also be extremely task-oriented and challenging to work with him. You can argue that you don’t have to be a Wealth Creator to be a successful leader. Yes, many great leaders do not themselves create wealth. However, all leaders require the assistance of a Wealth Creators in order to drive public and private business expansion. Because of their unique combination of characteristics, Wealth Creators are able to make a leader’s vision a reality. With Asiwaju, Nigerians have a prosperous package of an actual master of wealth creation and transformational leader.

Countries and businesses are taking advantage of every opportunity to gain a slight edge over their rivals in today’s highly competitive world. Diversity is an advantage that is frequently overlooked. One of the most significant advantages of diversity is increased productivity, which is now becoming increasingly recognised by numerous nations and businesses. Companies with ethically diverse leadership teams outperform their rivals by up to 36%, according to several studies. When Asiwaju was in charge of Lagos State, he was the first governor to liberate the advantages of having a competitive advantage by having a cabinet full of people from different exemplary backgrounds. How, then, does this occur? To put it succinctly, Asiwaju successfully implemented the strategy of having leaders in his cabinet with diverse backgrounds and perspectives. Effectively, this led to improved decision-making, increased innovation, increased staff engagement and retention, and increased strategic thinking.

Asiwaju had this in mind again in his address at Arewa House, Kaduna, ‘It’s time to fetch water from a dry well. We will find a way where there is none. We build the Nigeria of your dream in your lifetime; it’s a promise you can depend on because adding value is my domain. I’m not an island of knowledge, but I have the capacity to gather the best people, and together we will build this country. I’ll make our Diversity a source of Prosperity for this nation.’

Asiwaju accentuated that making diversity works in the national economic and democratic made him to build bridges across Nigeria, and with exceptional quality of strategizing as one of the youngest strategists with the late Yar’Adua, and I quote: ‘My political history is full of long-abiding relationships and support for the North. My greatest rival, Atiku Abubakar, met me with the late Yar’Adua. I was one of the youngest strategists with Shehu Musa Yar’Adua. I started here in the North. Atiku met me with Yar’Adua after he left Nigeria Customs freshly. He met me strategising for Yar’adua…ask him…’ I can only confirm that one of Asiwaju’s wealth-creation strategies is to implement a diversity agenda in a way that leads to equal opportunities and a happier, more engaged team. If this is not the case, then why was the youngest Southerner strategist at the time collaborating diligently with Shehu Musa Yar’Adua, a northerner with broad political influence? By empowering a culture of resilience and tenacity, Asiwaju surely knows how to create a culture that values learning and implementing strategies from various perspectives.

When Asiwaju was questioned about climate change at the same gathering, he articulated his response to emphasise his mastery of wealth creation. Sure enough! Deniers of climate change will assert that there is no evidence that natural climate voices cause differences. Nevertheless, Asiwaju directly applies his wealth creation mastery to this situation! Don’t expect compliance if the West doesn’t guarantee the financial benefits of this policy! It’s an excellent response; In light of their policies for increasing wealth, the UK recently reversed its position on this demand related to climate change. Britain’s fracking ban must be lifted due to the energy crisis, sparking a long-running debate. Asiwaju responded that Nigeria, as a developing nation, should primarily rely on what is available to create wealth to move from developing status to an expanded level if Britain could do that in the interest of resolving the current energy crisis.

Asiwaju demonstrated exceptional proficiency in utilising diversity to achieve national prosperity, asserting that diversity is vital beyond the executive level. Nigerian states should work together at every level to determine their competitive advantages. People have a responsibility to share the things they do every day with their intended audiences and potential customers: help them produce better goods, provide better services, and generate more revenue for the population as a whole. Lagos is a constant reminder of Asiwaju’s remarkable capacity for transformation, mastery of the framework for wealth creation, and governance skills. Others, including those who have held positions of authority for extended periods and even at higher levels, do not have any record of wealth creation encounter except using government resources to make themselves. In contrast, Asiwaju has tangible evidence of Lagos’s enormous growth during his time as governor. Asiwaju’s accomplishments in Lagos serve as an admirable wealth-creation model for the growth of Nigeria into the prosperous Federal Republic if elected the next president of Nigeria.

Notably, before entering politics, Asiwaju had acquired sufficient wealth as a senior member of Mobil Oil Producing. On the other hand, other politicians running for president in 2023 could not provide evidence of wealth creation outside of their official responsibilities. As an elected official, a presidential candidate, for instance, established a private university. One other candidate, according to the evidence, used state funds to support family businesses as the state’s chief executive. Asiwaju was busy creating wealth and establishing his teams in Nigeria. At the same time, other former top executives of States of the Federation were busy shipping the resources of their states abroad and developing foreign economies. In Nigeria today, those businesses employ a few thousand, if not millions, of breadwinners.

Asiwaju’s mastery of the phenomenon of wealth creation is demonstrated by numerous examples. At about N600 million per month, Asiwaju met Lagos IGR, leaving it at N12-14 billion per month. Asiwaju paid salaries and pensions regularly for three and a half years while the PDP government led by Obasanjo seized Lagos allocations despite Supreme Court’s ruling against the action. The payment for the allocation to Fasola’s government came from Yardua. Asiwaju created LASTMA through his mastery of wealth creation and core leadership qualities, which the then-Federal Government copied to create FERMA.

When we consider where Lagos was before Asiwaju assumed its governorship seat and where it is now, with his enormous influence looming in the governance of Lagos, we will appreciate Asiwaju’s ebullient capacity and why he remains the undisputed candidate with the proven competence and ability to transform Nigeria into the desired land of prosperity where everyone stands to benefit. The success that Asiwaju achieved in Lagos serves as a reminder that people with different experiences and backgrounds may also perceive the same problem differently and come up with other solutions, particularly when an actual master of wealth creation leads the team. Additionally, employing such a leadership style increases the likelihood that one of those solutions will be successful, highlighting the significance of being adaptable in a dynamic business and democratic environment.

Today’s case study in developmental economics is the enormous transformation that Lagos has undergone since Asiwaju took office, as well as the apparent economic potential of the state. Obviously, this is an example of how a leader’s intellect can have a significant impact on the fortunes of a state and a nation. Asiwaju made a substantial difference in Nigeria by skilfully deploying capacity, severely lacking in the country’s leadership ranks. As a result of his efforts, the fortunes of millions of Nigerians improved, which makes a significant difference in a nation that severely lacks cerebral and competent leadership. Lekki was born when Asiwaju saw a massive opportunity in a filthy, waterlogged landmass. Lekki is now a swath of a sprawling metropolis inhabited by upscale Nigerians and with a net land value that is higher than the average upscale environment in Nigeria. Asiwaju built Lekki with an excellent mind for wealth creation. Lekki has now encroached on nearby suburbs like Ajah, Badore, and others, and the value of its land continues to rise with each passing day. Lekki resulted from Asiwaju’s innovative thinking, determination to succeed, and an unquenchable thirst for success.

When discussing Asiwaju’s mastery of wealth creation and transformative power, the Lekki Free Trade Zone, now affectionately referred to as the Nigerian Dubai, is also phenomenal. The largest refinery in the world, Africa’s largest fertiliser company, and a deep-sea port are all located in the Lekki Free Trade Zone today, affecting the daily lives of millions of Nigerians. No one will ever be able to quantify the economic potential of the Lekki Free Trade Zone when it reaches its full potential because the zone is still in its infancy.

The gradual opening of Eko Atlantic City illustrates Asiwaju’s incomprehensible capacity for transformation with the prowess of wealth creation. The idea of chasing the raging Atlantic Ocean, which would then pose a threat to Victoria Island as a whole and deep within its borders, was developed by Asiwaju. He started the project, which later governments took over. Eko Atlantic City has emerged as a new preferred city as a significant portion of the ocean has been reclaimed. The city is known for its high value because it is one of the most expensive pieces of real estate in the world today. The United States of America is currently building the largest embassy in the world in that city! Nigerians must give due to Asiwaju’s profound creativity and transformational capacity. By simply imagining the value that Eko Atlantic City stands to bring to Nigeria and the lives of millions of Nigerians, you will understand why no one in the current race for the presidency of Nigeria comes close to Asiwaju in his capacity to use the tools of government to create wealth, transform the fortunes and lives of millions of Nigerians.

We cannot conclude the story without looking at the significant transformation of the transportation sector in Lagos, which shows how Asiwaju used his transformative capacity to change lives. When he arrived in Lagos in 1999, the state’s growth and progress were hampered by a disorganised, turbulent, riotous, and messy transportation system. He showed up and got to work. He established LASTMA with the primary goal of enforcing road usage discipline and cleaning up the industry’s soiled image. After that, he recited the rules for how to use the road and established a schedule for gradually eliminating the rickety and shabby buses, which were Lagos’s primary mode of public transportation. He then started the Bus Rapid Transit (BRT) program, used in many progressive cities and metropolises worldwide. He also promised that the transportation system in Lagos would change in a record amount of time.

In Lagos, the BRT program is currently very successful and working well. In order to meet the increasing requirements of Lagosians, additional innovations and routes are being added to the program. In addition, smaller yellow buses, despite still being present, are being phased out of Lagos’ roads in favour of the shabby giant molue buses, which are now entirely extinct. Today, Lagos’ streets are cleaner and more accessible, and drivers are more disciplined and responsible when using the roads.

As the first African city to construct and operate its own intra-city rail transportation, Lagos will soon begin intra-city rail transportation near the completion of the blue and red rail lines. In a similar vein, Lagos operates a cutting-edge ferry service that carries hundreds of thousands of commuters daily across the vast waterways of the city. At the moment, Lagos has available land, rail, and water transportation systems; the only state in Nigeria with this right.

All of these factors contribute to the transformation of the transportation system in Lagos, which has not only seen the transportation sector transition from its odious primordial past to a new system that is more friendly, continues to expand by the day and empowers millions of Lagosians. Another way Asiwaju impacted the lives of millions of Lagosians was by establishing additional local government councils.

Asiwaju, a true democrat and a master of wealth-creator, sees the need to use democratic principles to improve people’s lives. He was the first governor to initiate the establishment of other local councils to not only bring governance closer to the people but also to provide viable, life-altering employment opportunities and empower Lagosians. He thought of local councils as a way to reach more people and give them more power.

The PDP federal government did not have the privilege of sharing Asiwaju’s grand vision due to its narrow understanding of governance and abject pettiness. As a result, it repressed Lagos and deceitfully seized the state’s allocations to local government during Asiwaju’s eight years as governor. Asiwaju never let this stop him from filing numerous legal challenges to this offensive act. Despite the Supreme Court’s ruling that the action was illegal, the PDP government continued to withhold the Lagos LG allocation, even though he won all of the cases. But this didn’t stop Asiwaju from running the new local councils as the Local Council Development Authority.

The LCDAs are now thriving administrative councils that employ hundreds of thousands of Lagosians and provide various administrative services to the city’s residents. That is Asiwaju’s crucial transformative capacity, mastery of wealth creation, backed by a tremendous drive to complete tasks and achieve results. Because of this, he refused to give in to the bullying tactics of the Obasanjo/PDP federal government, which was determined to sabotage his efforts to establish these additional centres of governance that now significantly boost Lagos’ economy and the fortunes of its residents.

When Asiwaju was elected governor of Lagos, he had a big plan to put an end to the terrible power crisis that hampered the activities of the state power section. He came up with the idea of distributing and producing power in different ways. He then included the American power company, Enron, in the process of privatizing power generation and distribution. The PDP federal government hampered and obstructed the Enron project, claiming that power is on the exclusive list (which only the federal government can operate). Consequently, Nigeria missed out on a significant opportunity for private participation in the power sector, maintaining the hegemony of the state power company. As a result of losing Asiwaju’s initiative, power quality has deteriorated frequently, and the state power company has no solution. If the Enron project had been allowed to flourish, Nigeria would have resolved its intractable power issue by now. Asiwaju knows exactly how the workplace will change in the future, without a doubt. Nigerians can rely on Asiwaju to address the problem of inadequate power supply if he is elected president, using this indicator and other indicators as a timeline for a long-term, one-of-a-kind model of wealth creation for the entire nation.

The Director General of the National Sports Commission (NSC), Hon. Bukola Olopade, has expressed grief and deep sorrow over the passing of the President of the Nigeria Tennis Federation, Engr. Ifedayo Akindoju.

The respected tennis administrator reportedly passed away on Tuesday, 2nd October, in Abuja.

Olopade described Engr. Akindoju’s demise as a monumental loss to the Nigerian sports family, noting that the void created by his death will be felt for many years to come. He praised the late tennis president as a perfect gentleman whose selfless leadership brought steady growth and development to Nigerian tennis.

‘I am still pinching myself not to believe that Engr. Akindoju is no more because of how full of life he was the last time he came to my office. This is a big loss to the tennis family and the country in general.’

‘When you see Engr. Akindoju, you see his selfless passion for Nigerian tennis and how he constantly thinks of how Nigeria can produce the next generation of tennis top players.’

The DG further assured that the Commission will stand firmly with the bereaved family in their time of grief.

‘At this critical time of grief, our hearts are with his family, and as a Commission we will be in constant touch with them for every form of support.’