General News
Nigeria, World Bank Sign N45 Billion Power Deal
The agreement provides fund for the development and improvement of electric power supply in Nigeria. Called the Nigeria Electricity and Gas Improvement Project (NEGIP), the undertaking aims at addressing the challenges militating against electric power generation in the country.
The development financing agreement is expected to be utilized in improving the availability and reliability of gas supply for power generation and also improve network capacity and access to quality power supply in identified cluster areas.
Dr. Olusegun Aganga, minister of Finance signed on behalf of the Federal Government, while Mr. Onno Ruhl, the World Bank Country director, signed on behalf of the Breton Woods institution.
Aganga noted that the project could not have come at a better time given the persistent inadequate power supply in the country.
According to him, “the current power situation in the country has raised serious concerns amongst industrialists leading to the closedown of many manufacturing companies with the attendant loss of jobs. This government is seriously disturbed by the present state of affairs in the power sector and would do the needful to remedy the situation.”
The minister urged the Power Holding Company of Nigeria (PHCN), which is saddled with the responsibility of implementing the project to ensure that everything was done to achieve a successful implementation.
He directed that serious attention should be given to those components of the project that would make its impact felt by Nigerians within a short time.
He, however, warned that given the high expectations of Nigerians, government would not condone any form of indolence or failure in the implementation of the project.
While thanking the World Bank for providing the credit and participating in execution and monitoring, Aganga restated the government’s resolve to tackle the nation’s energy problem and assured Nigerians that the cordial and mutually beneficial relationship between the country and the World Bank would be sustained.
In his remarks, Ruhl believed that the NEGIP project would address one of the bottlenecks of Nigeria’s development and promised his organisation’s strong support for the electricity and gas improvement project.
General News
EFCC Detains Ayeni, Ex-Skye Bank Chairman over Alleged N36.5Bn, $30m Fraud

Economic and Financial Crimes Commission (EFCC), has detained Tunde Ayeni, former chairman of defunct Skye Bank Plc, for alleged fraud involving N36.5 billion and $30 million.

Tunde Ayeni, former chairman of defunct Skye Bank Plc,
This follows the probe of alleged diversion of N36.5 billion and $30 million secured as loans from Polaris Bank Plc through companies linked to Ayeni.
He was arrested by EFCC operatives in Abuja on April 23, 2026, and is still been held in custody as at the time of filling the report.
Dele Oyewale, spokesperson, EFCC, confirmed the arrest on Friday but declined to provide further details.
Ayeni is under investigation for diverting funds obtained for marine security, electricity distribution, and real estate projects into other unknown projects.
Investigators allege the loans were instead channelled into telecom investments tied to NITEL/MTEL assets via a NATCOM account.
About 12 firms believed to be connected to Ayeni are also under investigation for their role in securing the loans.
The EFCC is expected to file charges once the investigation is concluded.
General News
Summit Factory Opens in Ogun, Targets Hygiene Market Expansion

Summit Household Solutions Limited has opened its ultra-modern manufacturing facility in Ota, Ogun State, as part of its efforts to scale production of home and personal care products in Nigeria.

The plant, which started operations in April 2025, produces items such as dishwashing liquids, handwash, sanitisers and multipurpose liquid soaps, with an annual capacity estimated at 7,000 tonnes.
Commissioning the facility on behalf of Governor Dapo Abiodun, the Permanent Secretary, Ministry of Commerce, Trade and Investment, Mr Kehinde Akintomide, said the investment reflects growing confidence in Ogun State’s business environment.
He noted that the state hosts over 6,000 manufacturing firms and described the development as consistent with ongoing efforts to promote industrialisation, attract investment and reduce reliance on imports under the Federal Government’s Renewed Hope initiative.
Akintomide disclosed that the factory has already employed more than 50 Nigerians, with projections to exceed 250 jobs as operations expand.
In his remarks, the General Manager of the company, Mr Sadiq Ali, said the facility represents a major step in Summit’s growth plans, adding that its flagship brand, 2Sure, currently leads production at the plant.
He also revealed that the company is preparing to introduce new home and personal care products later this year.
Summit Household Solutions manufactures the 2Sure brand and has expanded into the personal care segment with Lewar, a premium beauty soap line positioned for quality and affordability.
Among dignitaries present were the Onikotun of Otun, Ota, Oba Abdulakeem Odunaro, representing the Olota of Ota, Prof. Adeyemi Abdulkabir Obalanlege; the Agba Akin of Ota, Chief Dada Olusola; Director of Investment, Ms Yemisi Folarin; Director of Industrial Promotion, Mr Femi Adeboye; former Managing Director of 7Up Bottling Company, Mr Ziad Maalouf; and the Chief Executive Officer of OmniRetail, Mr Deepanker Rustagi.
Speaking at the event, Maalouf, who conceived the 2Sure brand during his time at 7Up Bottling Company, expressed satisfaction with its growth and commended Summit Solutions Limited for advancing the brand.
The special guests were conducted around the facility, and the programme was concluded with a luncheon.
General News
Airtel Africa Foundation Calls for Applications for “DigiLeap” Tech Training for Young Women

The Airtel Africa Foundation, through Airtel Nigeria, has officially opened the application portal for the DigiLeap Tech Drive, a core initiative in the Foundation’s digital inclusion agenda. The application portal will be open until 8th May 2026.

Targeting 200 underserved young women in the Ikorodu Local Government Area of Lagos State, the programme is designed to bridge the gender divide in the digital economy by providing intensive, industry-standard technical and digital literacy training at no cost to the beneficiaries.
The DigiLeap Tech Drive is a strategic collaboration between the Airtel Africa Foundation, the ISHK Tolaram Foundation, and Co-Creation Hub (CcHub), with implementation carried out by the SAIL Innovation Lab, a leading centre for digital talent development in Nigeria.
Strategically engineered to transform high-potential individuals into workforce-ready professionals, this high-impact project will provide technical instruction, mentorship, and job-placement linkages, directly tackling regional unemployment and the systemic underrepresentation of women in the global technology sector.
Commenting on the project, Dr Segun Ogunsanya, Chairman of the Airtel Africa Foundation, emphasised that the partnership between the Foundation, Ishk Tolaram, and CcHub is central to the Foundation’s holistic mission of advancing both digital and gender inclusion across the continent.
“Our mission at the Airtel Africa Foundation is to accelerate digital inclusion across the continent,” he said. “By bringing the DigiLeap Tech Drive to the women of Ikorodu alongside Ishk Tolaram and CcHub, we are providing 200 young women with a definitive competitive advantage in the modern economy. This initiative ensures the digital revolution is truly inclusive; it isn’t merely a training session, but a professional pipeline designed to transition these women directly into internships and sustainable careers.”
In his remarks on the flag-off, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, highlighted Airtel’s dedication to ensuring that women are integrated into the country’s rapidly evolving digital economy.
“At Airtel Nigeria, we believe that empowering women with digital skills is a fundamental catalyst for national economic growth. With the DigiLeap tech training, we are creating a sustainable pathway for young women in underserved communities to move from the sidelines of the digital economy into the heart of the tech workforce. This initiative reflects our deep-rooted commitment to social impact and our belief that when women lead in technology, entire communities thrive,” he said.
Focusing on industry-standard competencies that enhance both employability and entrepreneurship readiness, application entry into the programme is now live and open to women aged 18–35 living in Ikorodu.
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