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KEDCO to Invest ₦1.2bn in Network Expansion

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Kano Electricity Distribution Company (KEDCO) said it has concluded plans to invest ₦1.2billion Naira in network expansion and improvement in power supply to the famous Dawanau International Grains Market, in Kano.

Network expansion and power generation are some of the Company’s major plans to improve power supply in an accelerated fashion, especially in areas such as Dawanau International Grains Market, being the largest in Sub-Saharan Africa, with numerous cottage industries.

The Company is prioritising the Dawanau project amongst a string of similar projects due to its current dilapidated network leaving the area underserved, thus hindering the potential of the market as a catalyst for economic growth of Kano state and the northern part of Nigeria.

Commenting on the development, the Company’s Ag. Managing Director and CEO, Abubakar Yusuf said, “We have engaged 3 reputable companies to actualise construction of 35KM of 33kV high tension (HT) line from Bichi Transmission Sub-station to Dawanau market, installation of 2Nos 500KVA 33/.415 transformers, and low tension (LT) lines to serve the area and environs at the cost of ₦1.2bn.

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He added that “the project is aimed at improving quality and efficiency of power supply to industrial and commercial clusters in the grain market, which is equally in line with our vision to enable re-industrialization and economic empowerment within our franchise states”.

In his remarks, the Company’s Chief Technical Officer, Engr. Inuwa Bala Daneji said, “Upon completion of the project, we forecast an increase in energy offtake by 200% and an equivalent growth in revenue for KEDCO”.

On takeover in November 2023, the new core investor (Future Energies Africa) immediately embarked on network rehabilitation and expansion aimed at improving access to quality and reliable power supply for the socio-economic growth of KEDCO’s tri-state of operation.

In a statement signed by the head corporate communications Sani Bala said While these initiatives will further strengthen the existing relationship among stakeholders and explore other business opportunities within the same space and beyond, the investors remain unrelenting in the same trend across the franchise area.

 

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Tinubu Replaces Tuggar with Bianca Ojukwu as Foreign Affairs Minister

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By Yusuf Danjuma Yunusa

President Bola Tinubu has approved the appointment of Ambassador Bianca Odumegwu-Ojukwu as Nigeria’s new Minister of Foreign Affairs, following the resignation of Ambassador Yusuf Tuggar, who stepped down ahead of his anticipated political move toward the 2027 elections.

Tinubu also nominated Ambassador Sola Enikanolaiye as Minister of State for Foreign Affairs, subject to Senate confirmation.

These were contained in a statement by presidential spokesperson Bayo Onanuga on Wednesday.

According to him, the changes are intended to strengthen Nigeria’s diplomatic posture and align foreign policy with the administration’s economic priorities.

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“These adjustments are part of ongoing efforts to reposition Nigeria’s foreign policy architecture for greater efficiency, strategic engagement, and stronger global partnerships,” the statement read.

Odumegwu-Ojukwu, a veteran diplomat and former Minister of State for Foreign Affairs, is expected to take over leadership of Nigeria’s external relations at a time when the administration is focusing on economic diplomacy, regional stability, and expanded international cooperation.

The presidency, in the same statement, emphasized her experience in international affairs, noting:

“Ambassador Odumegwu-Ojukwu brings decades of diplomatic experience and a deep understanding of Nigeria’s engagement with the global community,” the statement read.

Enikanolaiye, who previously served as Senior Special Assistant to the President on Foreign Affairs and International Relations, is a career diplomat with postings in several international capitals including Addis Ababa, London, Ottawa, Belgrade, and New Delhi.

The statement further described his nomination as part of efforts to strengthen continuity within Nigeria’s foreign service:

“Ambassador Enikanolaiye’s extensive experience across multiple diplomatic missions will support Nigeria’s evolving foreign policy objectives,” the statement added.

Tinubu congratulated both appointees and urged them to prioritize national interest, enhance economic diplomacy, and ensure improved welfare for Nigerians abroad.

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Senate Committee Warns Against Misinformation Over NNPC Funds Probe

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The Senate Committee investigating the alleged misappropriation of funds in the Nigerian National Petroleum Company Limited has cautioned social media users and influencers against spreading false information about its ongoing probe.

The warning was issued during a committee sitting, where lawmakers stressed the importance of accurate reporting and public discourse as the investigation continues.

Chairman of the committee, Senator Ahmad Wadada, made the remarks while presiding over a session attended by former Chief Financial Officer of the NNPC, Umar Ajiya. Wadada emphasized that the committee’s work is focused on uncovering facts and should not be misrepresented by unverified claims circulating online.

According to Wadada, the committee’s investigation spans financial activities from 2012 to the present, a timeline that does not fully overlap with Ajiya’s tenure. He noted that the appearance of the former CFO was part of efforts to clarify specific financial records and transactions presented to the panel for review.

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The committee commended Ajiya for honoring its invitation and cooperating with lawmakers. Members provided him with relevant documents during the session and requested detailed explanations to aid their understanding of the financial matters under scrutiny. The panel also indicated that it would carefully review all submissions before determining the next steps regarding its final report.

Reiterating its stance, the committee stressed that it has not accused any individual of theft or misappropriation of public funds. Wadada said that the investigation remains a fact-finding exercise and urged the public to refrain from drawing premature conclusions or assigning blame without evidence.

The lawmakers further issued a strong warning to social media handlers, urging them to desist from peddling falsehoods that could mislead the public or undermine the integrity of the investigative process.

They emphasized that misinformation could erode trust in public institutions and distract from the committee’s mandate.

In addition, the committee confirmed that it has sent formal communications to other key officials who have yet to appear before it, including former Group Chief Executive Officer of NNPC, Mele Kyari, and senior executive Bala Wunti. The panel warned that failure to honor its invitation could attract further legislative action as the probe progresses.

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Senate Confirms Yuguda as CBN Deputy Governor

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By Yusuf Danjuma Yunusa

The Senate on Wednesday confirmed the appointment of Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria, describing him as “a square peg in a square hole.”

The confirmation followed the consideration of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, which cleared the nominee after a brief screening process.

Presenting the report, Chairman of the committee, Adetokunbo Abiru, told the chamber that Yuguda was qualified for the position based on his extensive experience and in line with Section 8(1) of the CBN Act.

According to him, the nominee demonstrated strong financial and monetary expertise during his screening earlier in the day and had no petitions against him.

He said the committee found him suitable and urged the Senate to confirm his nomination as Deputy Governor of the Central Bank of Nigeria.

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The motion for confirmation was seconded by Danjuma Goje, who declared, “President Bola Tinubu made the right choice on the appointment.”

The Senate President, Godswill Akpabio, subsequently put the question to a voice vote, with lawmakers overwhelmingly endorsing the nomination.

In his remarks after the approval, Akpabio described Yuguda as “a square peg in a square hole” and commended Bola Tinubu for what he termed a fitting appointment.

Earlier, the nominee was spared detailed questioning during his appearance before the committee, as lawmakers invoked the “take a bow and go” tradition.

Although Abiru had initially indicated interest in subjecting Yuguda to questions on monetary and fiscal policy, the move was halted by Osita Izunaso, who moved a motion to dispense with the exercise.

The motion, seconded by Sarafadeen Alli, was based on Yuguda’s prior engagements with the Senate.

Izunaso argued that the nominee was already well known to lawmakers, having been screened multiple times for key positions, including Director-General of the Securities and Exchange Commission and roles within the apex bank.

He said, “Mr Chairman and Distinguished colleagues, in line with our tradition, the nominee before us for the position of Deputy Governor of the Central Bank of Nigeria, is well known to us, having screened him three different times in the past for some other very important positions like Director General of Securities and Exchange Commission (SEC) and member of the monetary control of CBN.

“Personally, as Chairman of the Senate Committee on Capital Market, I had close interaction with Mr Yuguda as DG SEC and found him eminently suitable for the position of Deputy Governor of CBN nominated by President Tinubu,” he said.

Yuguda’s confirmation comes amid ongoing efforts to strengthen leadership at the Central Bank and deepen confidence in Nigeria’s monetary policy framework.

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