General News
President Jonathan Leads Azura-Edo IPP Ground Breaking, Foundation Laying Ceremony

Azura Power Holdings Ltd, on Friday, conducted the official groundbreaking and foundation laying ceremony at the Azura-Edo Independent Power Project (IPP) in Benin, Nigeria.
The ceremony was led by President Dr Goodluck Ebele Jonathan alongside Edo State Governor, Comrade Adams Oshiomhole and other high ranking members of the Federal and State Executives.
The ceremony marks the beginning of construction work at the project, which is on track to achieve full financial close in 2014.
The Azura-Edo project is the first of a new wave of project-financed greenfield IPPs currently being developed in Nigeria.
The financing of the Azura-Edo IPP involves equity and debt from a consortium of local and international financiers.
The project also incorporates an additional investment being made by Seplat Petroleum Development Company PLC (“Seplat”) in new gas processing facilities at its Oben Gas Plant, which, as part of Seplat’s joint venture with the Nigerian Petroleum Development Company (NPDC), will supply the Azura-Edo IPP with the project’s fuel gas requirements.
The Azura-Edo project is being developed by a consortium of local and international investors led by Amaya Capital Limited and American Capital Energy & Infrastructure.
The other sponsors contributing equity to the project are the Africa Infrastructure Investment Fund 2 (AIIF2), Aldwych International Ltd, and the Asset & Resource Management Company Ltd (ARM).
The Engineering, Procurement and Construction contractors are Siemens and Julius Berger Nigeria; with an Operations & Maintenance contract in place with the PIC Group (a subsidiary of Marubeni).
The Azura-Edo IPP is also the first Nigerian power project to benefit from the World Bank’s ‘Partial Risk Guarantee’ structure, specifically created to meet the developing needs of emerging markets world-wide, and political risk insurance for equity and commercial debt from the Multilateral Investment Guarantee Agency, also part of the World Bank group.
Significantly, the overall transaction will be underpinned by financial support provided by the Federal Government of Nigeria through a Put and Call Option Agreement agreed by Dr Ngozi Okonjo-Iweala, the Coordinating Minister for the Economy and Minister of Finance; complementing the Power Purchase Agreement that was signed in 2013 between Azura and the Nigerian Bulk Electricity Trading PLC (NBET).
The Azura-Edo IPP comprises a 450MW open cycle gas turbine power station; a short transmission line connecting the power plant to a local substation and a short underground gas pipeline connecting the power plant to the country’s main gas-supply.
It represents the first phase of a 1,500MW power plant facility.
The plant’s location on the outskirts of Benin City is ideal because of its close proximity to Nigeria’s biggest gas distribution pipeline (which makes gas feedstock easily available) and its unique accessibility to the country’s high voltage transmission network (which facilitates the evacuation and distribution of power).
The first phase of the plant, which is targeted to come on stream in 2017, is forecast to create over 1,000 jobs during its construction and operation.
The United Nations estimates that Nigeria’s population will reach 230 million within the next 20 years, and the total grid-based power generation capacity must rise, during this period, by at least tenfold to meet the demand.
Azura is, and will continue to be, a key driver in this growth in capacity.
Mr. Sundeep Bahanda, co-founder of Amaya Capital and Dr. David Ladipo, managing director of Azura, said in a joint statement: “This ground breaking ceremony is a major milestone in our project development timeline, and the President’s endorsement a strong demonstration of the critical importance of this project to the Nigeria power sector reforms.
‘By working closely with the government over a number of years the Azura-Edo project has been used to develop many of the template contracts and documentation that will be used in project financed power projects over the coming years.
“We would like to sincerely thank President Jonathan and his administration for their commitment to seeing this project to completion, and for taking the time to share today with us. We would also like to commend Governor Oshiomholefor his relentless determination to modernise the infrastructure of Edo State and thank him for his unstinting support for the Azura Project.”
Opiuyo Oforiokuma, managing director of the ARM Infrastructure Fund and the lead indigenous project sponsor said; “The Azura-Edo project is a leading example of the strength of partnership that can exist between indigenous and international equity partners, sponsors and financiers.
“By combining specialist local equity, through our infrastructure fund, with international equity and debt, alongside best in class contractors the Azura-Edo project is a world class example of how to develop an infrastructure project in Africa.”
Azura is a world-class power development company that was created to focus on the development, construction, acquisition and operation of power generation facilities in Nigeria and over time, West Africa.
Similarly, Amaya, established in 2009, is a principal investment firm focused on energy related projects in West Africa.
Also, American Capital Energy & Infrastructure manages investments in global energy infrastructure assets, including power generation facilities, power distribution and transmission networks, energy transportation assets, fuel production opportunities and product and service companies focused on the power and energy sectors.
While African Infrastructure Investment Fund 2 (AIIF2) holds long-term equity investments in a diversified portfolio of infrastructure and infrastructure related assets across Sub-Saharan Africa, Aldwych is an energy company active in the growing economies of Africa and was established in 2004, for the purpose of developing, owning and operating power generation, transmission and distribution projects in emerging economies.
Established in Lagos in 1994, ARM currently manages total assets of over US$3 billion and has evolved into one of Nigeria’s most innovative and respected non-bank financial institutions.
General News
Court Freezes MCSN Copyright Levies amid Record Label Legal Battle

Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, has issued an interim Mareva injunction freezing copyright levy funds due to the Musical Copyright Society of Nigeria (MCSN).

The order prevents the Central Bank of Nigeria (CBN) and at least 20 commercial banks from disbursing these funds until further court proceedings.
The injunction stems from Suit No. FHC/L/CS/207/2026, following an ex parte application filed on February 5, 2026, by the Record Label Proprietors’ Initiative on behalf of 11 major record labels and music companies.
Plaintiffs include industry heavyweights such as Mavin Records, Davido Music Worldwide, Chocolate City Music, Universal Music Group, Sony Music Africa, and Warner Music South Africa.
The plaintiffs, through their attorney, sought to restrain the CBN from releasing any copyright levy funds related to sound recordings earmarked for MCSN.
They also asked the court to bar MCSN and its agents from accessing, transferring, or using the funds, whether received directly from the CBN or routed through commercial banks.
General News
NITDA, HORSA Empower Lawmakers’ Spouses with Digital Skill

The National Information Technology Development Agency (NITDA), in partnership with the House of Representatives Spouses Association (HORSA), organized a specialized two‑day digital literacy and capacity‑building workshop for the spouses of members of the House of Representatives.

The initiative, themed “Empowering Women for a Digital Future: Leadership, Wellbeing, and Opportunity,” is designed to equip spouses of lawmakers with the tools needed to navigate the modern digital economy and the unique demands of public life.
Moving beyond basic computer literacy, the workshop offers a comprehensive suite of skills, including financial and digital literacy—focused on using digital tools for business growth and personal finance management; cybersecurity and digital wellbeing—promoting online safety, data protection, and mental health resilience; and economic empowerment—unlocking opportunities in remote work, Business Process Outsourcing (BPO), and digital entrepreneurship.
Declaring the workshop open on behalf of the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, PhD, the Deputy Speaker, Rt. Hon. Benjamin Okezie Kalu, said the workshop underscores the crucial role spouses play in supporting public office holders. He described spouses as trusted advisers whose understanding of legislative responsibilities helps lawmakers perform more effectively.
He noted that the demanding nature of legislative work often places strain on family life, adding that empowering spouses with digital and leadership skills would strengthen their capacity to provide informed support and constructive feedback to their partners in public service. He urged participants to take full advantage of the training, stressing that continuous learning is essential in an increasingly digital world.
Kalu further observed that many spouses already lead humanitarian and development initiatives in their communities, and that the skills gained from the programme would enhance communication, strategic planning, and resource mobilisation, thereby deepening their contribution to community development and national growth.
In his welcome address, the NITDA Director‑General, Kashifu Inuwa, said the initiative aligns with the Federal Government’s drive to build a sustainable digital economy by ensuring that no group is excluded from digital opportunities due to skills gaps. He noted that the Renewed Hope Agenda of Bola Ahmed Tinubu places digitalisation and innovation at the heart of economic diversification and inclusive growth.
He added that NITDA is implementing a national digital literacy framework aimed at achieving 95 per cent digital literacy by 2030, driven through three key focus areas: integrating digital skills into formal education, upskilling public servants, and expanding community‑level digital inclusion.
Inuwa described women as critical drivers of Nigeria’s digital transformation, noting that empowering spouses of lawmakers with digital skills would strengthen leadership at home and positively influence legislative processes at the National Assembly. He explained that NITDA is working with the Ministry of Education and global technology partners to train teachers nationwide, while over 54,000 public servants are currently enrolled in the Agency’s digital literacy programmes.
He also stated that through community champions deployed across the 36 states and the Federal Capital Territory, millions of Nigerians are being reached annually with basic digital skills training, stressing that national leaders must not be left behind in Nigeria’s digital transition. According to him, digitally literate spouses can play a vital role in encouraging technology‑driven governance, including ongoing efforts to digitise legislative processes.
In her goodwill message, the Leader of HORSA and wife of the Speaker, House of Representatives, Hajiya Fatima Tajudeen Abbas, described the workshop as a historic milestone and the first comprehensive capacity‑building programme organised by the 10th Assembly for spouses of lawmakers. She noted that public life in a digital age now extends beyond physical spaces into online platforms, making digital and financial literacy, cyber protection, and digital wellbeing essential skills for spouses of national leaders.
Hajiya Abbas emphasised that the sessions on mental health, emotional resilience, entrepreneurship, and leadership were timely, as spouses of public office holders often shoulder invisible emotional responsibilities. According to her, empowering women economically strengthens families and communities, adding that the knowledge gained from the workshop would not only support lawmakers behind the scenes but also enable women to contribute more meaningfully to national development in the digital economy.
The event also featured goodwill messages and contributions from senior government officials, including the Chief of Staff to the President, Hon. Femi Gbajabiamila; the Honourable Minister of Women Affairs and Social Development, Hon. Imaan Sulaiman Ibrahim; the Chairperson of the Nigeria Governors’ Spouses’ Forum, Prof. (Mrs.) Olufolake Abdulrazaq; the Chairman of the House Committee on ICT, Hon. Stanley Olajide; the Chairperson of the House Committee on Women Affairs and Social Development, Hon. Kafilat Ogbara; and the Managing Director of the South-South Development Commission, Usoro Offiong Akpabio.
General News
PalmPay Unveils First Batch of Winners in #LoveWithPalmPay Campaign

PalmPay is thrilled to announce the first set of winners of its highly anticipated Valentine-themed #LoveWithPalmPay campaign, following a week of receiving entries from users across the country, celebrating their real love stories shaped by simple money moments.

The #LoveWithPalmPay, a two-week campaign which started on the 9th of February until the 21st of February, has unveiled the first set of four (4) couples who shared their heartfelt stories of how PalmPay has positively impacted their relationships, from seamless transfers and bill payments to shared savings goals, dates, and everyday financial support.
The first batch of selected winners are:
- Abdulsalam Aishat Omowumi ( Facebook)
- Symply Omotoshan (Instagram)
- Unusual_aaron (Tiktok)
- MTN_DATA_VENDOR (X)
Speaking on the campaign, Olorunfemi Hanson, the Head of Marketing of PalmPay, stated, “We are using the campaign to appreciate our over 35 million users and the many ways they use the PalmPay app to make life seamless. The four (4) couples, each rewarded with ₦100,000, were chosen based on how effectively they highlighted PalmPay’s features and demonstrated how the platform helped their everyday payments be reliable and seamless.
PalmPay noted that with the campaign still ongoing, four (4) more couples will be announced in the coming days, encouraging more users to continue sharing their love stories using the hashtag #LoveWithPalmPay on PalmPay’s social media platforms.
The campaign reinforces PalmPay’s commitment to creating financial solutions that not only simplify transactions but also bring people closer through meaningful, everyday money moments.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
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