News
Stallion Motors refutes Shutdown allegations

Stallion Motors has refuted allegations that its operations were shut down owing to a court judgement arising from the company’s indebtedness to Nigerian Banks and Asset Management Corporation of Nigeria.

Mr. Anant Badjatya, group ceo, Stallion Motors, in a statement released on Friday stated that the news was completely baseless and false.
He explained that a few of their rented & leased properties were affected in the shut down because of the court’s ex parte order, which was done without any notice.
While stating that they will be unable to comment further on the matter because it’s under judicial consideration of which their legal team has appropriately taken it up with the judiciary.
The statement further stated that the company has banking lines with local banks for regular business operations like all other major conglomerates in Nigeria and clarifies that it does not owe N330B to the banks as specified by the media report.
According to the statement, “we enjoy a very good customer loyalty across businesses and have a sound financial position with more than N750B in assets with approximately N150B liabilities, most of which is a receivable from Federal Government, which translates into a very healthy debt to equity ratio.
“We are poised for further expansion with investments across business divisions; agriculture, aqua culture, auto, flexible packaging, logistics, business solutions etc.
“The published news articles as well as WhatsApp messages being circulated around are fake news being stirred up by business rivals.
“The entire incident started when a few of the Stallion showrooms in Victoria Island were sealed off on Tuesday 10th December as a result of ex parte order and this fuelled the media and public speculation”.
The statement further stated that no other properties have been affected anywhere else in the country, noting that some locations which were sealed off in VI are now open and working.
Stallion is completing its 50th year of establishment in Nigeria in 2019. It employs 4000 people directly and indirectly; it is one of the foremost conglomerates hugely invested in the country.
It boasts of the largest installed rice milling capacity (working directly with more than 40000 farmers across Nigeria), largest and best equipped auto manufacturing and assembly plant in West Africa feeding its state-of-the-art nationwide dealer network for 9 global auto brands facilitating vehicle sales, leasing and after sales, the largest Tilapia aquaculture farm, largest cold storage capacity, fertilizer blending plant, state of the art flexible packaging plant, plastics factory, clearing, transportation logistics and warehousing solutions, a cutting-edge audio visual automation solution provider.
The philanthropic arm of Stallion, Stallion Empowerment Initiative focuses on education, healthcare, low housing and youth empowerment for the community.
It supports operation of 2 primary schools and 1 technical high school with 3600 students and a 75-bed hospital and low housing public estate respectively. The Foundation recently donated Naira 120M to the school and hospital for the upgrade of the facilities.
Likewise, in the auto sector, Stallion showed the conviction in the potential of Nigeria when it took over the moribund facility formerly used by Volkswagen of Nigeria (VON) and its German partners on the Badagry-Seme Expressway in Ojo, Lagos.
Stallion is the proud owner of VON. The company employs hundreds of employees in the sector and has invested more than N130B in auto sector from manufacturing to sales to service and after sales. Stallion is dedicated towards the well-being of the country.
News
Atte, Nigerian Develops AI Algorithm for Hair Transplants

Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.

Atte Ayodeji
Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.
Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.
His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.
Sunday Dare, special adviser on Media and Public Communication to President Tinubu, celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.
“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
News
FG to Abolish Subsidies in Power Sector in 2027 – Minister

Mr. Joseph Tegbe, minister of Power, has said that the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases.

Mr. Joseph Tegbe, minister of Power
The minister told journalists during the media interactive session at the weekend that the government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting liabilities in the power sector.
He explained that the planned removal forms part of the broader reforms aimed at ensuring the long-term sustainability of the electricity sector, while tackling the financial challenges confronting the industry.
According to the minister, despite the planned subsidy withdrawal, there are no immediate plans to increase electricity tariffs, reassuring consumers that the government is not considering a tariff hike in the short term.
News
AfCFTA Urges Africa to Stop Exporting Raw Materials

Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.

She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.
According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.
“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.
Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.
“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.
She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.
Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.
“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.
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