News
Elumelu Launches Empowerment Fund

Tony Elumelu, founder of The Tony Elumelu Foundation and chairman of Heirs Holdings, has announced the launch of The Elumelu Nigeria Empowerment Fund.
The Fund was launched by President of Nigeria Goodluck Ebele Jonathan with the purpose of revitalizing the economies of post conflict and disaster communities across Nigeria.
The Elumelu Nigeria Empowerment Fund was created out of the N2.5 billion donated by The Tony Elumelu Foundation and Heirs Holdings companies.
This donation was announced at the Presidential Fundraising Dinner for the Victims Support Funding July 2014.
Given to support distressed communities across Nigeria, N1 billion was immediately disbursed to the Victims Support Fund, while the remaining N1.5 billion now serves as the initial seeding for The Elumelu Nigeria Empowerment Fund. The Fund will focus on communities like those in the Niger Delta and Jos.
“Rehabilitating distressed communities will require interventions not just from the government, but also from the private sector. Therefore, I am pleased to see that Tony Elumelu, one of our private sector leaders, stepped up in a big way – by making a major contribution to the Victim Support Fundand that his effort did not end there as he has now created The Elumelu Nigeria Empowerment Fund,” President Jonathan said.
Seeded and managed by The Tony Elumelu Foundation, The Elumelu Nigeria Empowerment Fund, a non-profit organization, will transform communities that have been ravaged by natural disasters, hazards and conflicts, into thriving and economically sustainable communities.
The Fund will create opportunities and empower people in affected communities across Nigeria enabling them to rebuild their lives and businesses whilst instilling a sense of economic empowerment for the long-term.
In furtherance of Mr Elumelu’s commitment to supporting entrepreneurs across Africa, The Elumelu Nigeria Empowerment Fund will focus on encouraging the development of entrepreneurship in these affected regions through access to start-up funding, capacity building and mentorship.
The fund will also support a range of initiatives in these communities, including projects that will tackle environmental issues, restore damaged infrastructure as well as social welfare projects. By helping to restore these communities the Fund will create the platform for a thriving entrepreneurial environment.
“By making social investments and grants available in select distressed communities across Nigeria, the Elumelu Nigeria Empowerment Fund will economically empower individuals and communities by creating and fostering an enabling environment that will support a new generation of entrepreneurs,” said Elumelu.
“Entrepreneurs create jobs, opportunity, and wealth at the local level and in doing so, they play a vital role in reducing poverty and addressing a range of social issues that cause conflict and instability,” he continued.
As the Fund works to economically empower communities, so will it work to sustain itself. The Fund is managed by Katja Nwator, a staff of the Tony Elumelu Foundation with considerable community development experience and Niger Delta roots. With the support of a distinguished board and other donors, both domestic and international, the Fund will be impactful and sustainable.
This will occur within a framework of accountability and best practice, to serve as a model for delivering development programmes to the communities that have been devastated by conflict or disaster.
The Elumelu Nigeria Empowerment Fund’s distinguished board members include:
– Professor Charles Soludo, former Governor of the Central Bank of Nigeria;
– Hajiya (Dr) Mairo Mandara, Nigeria Country Director of the Bill and Melinda Gates Foundation;
– Bishop Matthew Hassan Kukah of the Catholic Diocese of Sokoto;
– Onari Duke, the MD of the Empretec Foundation;
– Rasheed Olaoluwa, the CEO of the Bank of Industry;
– Dr. Stanley Lawson, Director, Central Bank of Nigeria and Director, Transcorp Plc;
– Dr. Winnie Byanyima, the Executive Director of Oxfam International
Speaking at the launch of the Fund, Board member Bishop Matthew Hassan Kukah stated: “It is better to light a candle than curse the darkness. The Tony Elumelu Foundation has ignited what will definitely be a massive flame of hope to dispel the darkness that hovers around us. I am honoured to stand beside men and women with passion for our common humanity.”
News
UK Appoints Peter Vowles as British High Commissioner to Nigeria

The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.
Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.
He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.
Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.
Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”
News
Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.
The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.
According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.
The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.
He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.
“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.
The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.
It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.
The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.
Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.
It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.
The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.
News
PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.
These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”
PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.
Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.
“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”
The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.
For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.
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