News
AMCON Sells Ibadan DisCo For N100bn
Published
3 weeks agoon
By
Editor
The Asset Management Company of Nigeria (AMCON) has announced the sale of the Ibadan Electricity Distribution Company (IBEDC) for N100 billion.
AMCON’s Managing Director/CEO, Gbenga Alake, disclosed this at a media parley on Thursday.
Apart from IBEDC, AMCON also manages other distribution companies, including the Abuja Electricity Distribution Company (AEDC), Benin Electricity Distribution Company, Kaduna Electricity Distribution Company, and Kano Electricity Distribution Company.
READ ALSO:IBEDC Throws Ogun Industrial Estate, Others Into Darkness Over Debts
Alake said, “Today, I announce to you that Ibadan DisCo has been sold. When we came in, it had already been sold, but we renegotiated the price and got almost double of what it was initially going to be sold for.”
Regarding ongoing legal issues, Alake stated, “We have sold it, and whatever is still happening in court, we will face it.”
However, officials of IBEDC did not respond to inquiries about the sale.
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Dangote Cement Gets New Chairman As Aliko Dangote Retires
Published
4 minutes agoon
July 26, 2025By
Editor
Dangote Cement Plc has announced the appointment of Emmanuel Ikazoboh as the new Chairman of its Board of Directors, following the retirement of Alhaji Aliko Dangote from the position, effective July 25, 2025.
According to a statement issued on Friday by the Group Chief Branding & Communications Officer, Anthony Chiejina, Ikazoboh, an independent non-executive director, assumes the role as Dangote steps down to focus on the $20 billion refinery, petrochemicals, fertiliser and government relations.
This strategic move, the company said, is aimed at propelling the Dangote Group’s five-year business trajectory to greater heights.
“In the same vein, Hajiya Mariya Aliko Dangote was also appointed to the Board of Directors of the Company while Prof. Dorothy Ufot retired from the Board,” the statement added.
READ ALSO:BREAKING: Again, Dangote Refinery Cuts Petrol Price
The company paid tribute to Dangote’s leadership, stating that he left “giant footprints” on the board.
“His vision and tenacity redefined not just a company, but the entire cement industry landscape by becoming Africa’s largest cement producer and largest exporter of cement and clinker in Sub-Saharan Africa.
“Aliko Dangote’s journey with cement began with a bold dream: to make Nigeria and Africa self-sufficient in cement production. Through strategic investments in state-of-the-art plants and a commitment to local content, he not only met that goal but exceeded it.”
According to the company, Dangote Cement Plc currently has a production capacity of 52.0Mta across Africa, with Nigeria accounting for 35.25Mta.
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Additional greenfield plants under construction in Côte d’Ivoire (3.0Mta) and Itori, Nigeria (6.0Mta) will bring total capacity to 61.0Mta upon completion this year.
Under Dangote’s leadership, the company also recorded its highest ever revenue and earnings.
“According to the unaudited results for the six months ending 30th June 2025, the group revenue went up by 17.7 per cent, from N1.76tn at the same period in 2024 to N2.07tn, representing the highest revenue in the history of the company,” the statement read.
In his acceptance speech, Ikazoboh said he was honoured to take on the new role and pledged to uphold the highest standards of leadership and dedication.
He described Dangote Cement as a “beacon of African enterprise” that has consistently shown resilience, innovation, and a commitment to excellence.
READ ALSO:Dangote Stops Petrol Sale In Naira, Gives Condition For Resumption
“Emmanuel Ikazoboh was previously the Group Chairman of Ecobank Transnational Inc., the Pan-African banking group. He started his professional career at Akintola Williams Deloitte.
“He first became the Managing Partner for francophone offices in Cameroon and Côte d’Ivoire and later became the Managing Partner of the Deloitte firm in West and Central Africa until 2009.
“In 2010, he was appointed by the Securities and Exchange as an Interim Administrator to carry out capital market reforms of the Nigerian Stock Exchange and the Central Securities Clearing System Plc,” the statement added.
News
Boy Born At 21 Weeks Sets Guinness World Record For Most Premature Baby
Published
15 minutes agoon
July 26, 2025By
Editor
A baby born at just 21 weeks has been officially recognised by Guinness World Records as the world’s most premature baby to survive.
Nash Keen was delivered on July 5, 2024, at 133 days premature, at the University of Iowa Health Care Stead Family Children’s Hospital in Iowa City and weighed only 10 ounces and measured just over 9 inches long at birth.
His parents, Mollie and Randall Keen, were told by doctors that his chances of survival were virtually non-existent. Dr. Patrick McNamara, one of Nash’s doctors, told ABC affiliate KCRG that based on available data, he had to inform the family that Nash had a 0% chance of surviving.
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Despite those odds, Nash defied expectations and celebrated his first birthday with his family this month.
Typically, a full-term pregnancy is 40 weeks, and babies born before 37 weeks are considered premature. Those born before 26 weeks, like Nash, are classified as micro-preemies.
After spending six months in the neonatal intensive care unit, Nash was healthy enough to be discharged. His mother described him as a spunky baby with a big personality who is always smiling.
Nash surpasses the previous record held by Curtis Means, who was born at 21 weeks and 1 day on July 5, 2020, at the University of Alabama at Birmingham’s Women and Infants Center, according to Guinness World Records.
News
LG Chairman Drags Niger Govt To Court Over Alleged Tenure Reduction
Published
12 hours agoon
July 25, 2025By
Editor
Alhaji Aminu Yakubu-Ladan, the Chairman of Chanchaga Local Government Area (LGA) in Niger, has sued the state government over alleged reduction of tenure of local government chairmen and councillors.
Yakubu-Ladan, in the suit filed at the Federal High Court in Abuja, sought an order restraining the Niger State Independent Electoral Commission (NSIEC) and its co-defendants from conducting the scheduled LGAs’ election until the expiration of their tenure.
The News Agency of Nigeria (NAN) reports that the NSIEC has fixed November 1 for the conduct of the local government poll across the state.
However, the plaintiff, in the suit, named the Attorney-General of Niger State, the House of Assembly, NSIEC, Independent National Electoral Commission (INEC) and Inspector-General (IG) of Police as 1st to 5th defendants respectively.
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The chairman is challenging the constitutionality of the Niger State Local Government Law, 2001, which seeks to reduce the tenure of local government chairmen and councillors from four years to three years.
Yakubu-Ladan, in the originating summons marked: FHC/ABJ/CS/1370/2025, dated July 10 but filed July 11 by his counsel, Chris Udeoyibo, sought eight questions for determination.
The chairman questions whether the state government can enforce inconsistent local government law, 2001 (as amended), which clashed with the 1999 Constitution (as amended) and the Electoral Act, 2022.
“Should Niger State Local Government Law Section 29 (2) be declared unconstitutional for clashing with the 1999 Constitution (as amended) and the Electoral Act, 2022,” he said.
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The plaintiff seeks a declaration that a four-year tenure for local government chairmen and councillors is constitutionally guaranteed by virtue of the Constitution and the Electoral Act, 2022.
The suit also challenged the NSIEC’s preparation for the local government elections slated for November 1.
The plaintiff, therefore, seeks an order restraining the defendants from the elections on Nov. 1 until the expiration of a four-year tenure for chairmen and councillors.
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The suit also seeks to restrain INEC and the I-G from providing logistical support and security protection for the election.
Yakubu-Ladan argued that the state’s local government law, 2001, is inconsistent with Section 7 of the constitution and Sections 018 and 150 of the Electoral Act, 2022.
The suit is yet to be assigned to a judge as of the time of the report.
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