General News
Sanwo-Olu, Others Grace Launch of 50-Bed Hospital in Surulere by Avon Medical
Avon Medical, a subsidiary of Heirs Holdings has officially launched an ultramodern hospital facility in Surulere, Lagos.
L-R: Emmanuel Nnorom – Group CEO, Heirs Holdings; Dr. Kemi Ogunyemi, Special Adviser on Health to the Lagos State Governor; Tony O. Elumelu, CFR, Group Chairman, Heirs Holdings; Dr. Awele Elumelu, Chairperson, Avon Medical Practice; H.E. Babajide Sanwo-Olu, Executive Governor, Lagos State; Prof. Wasiu Adeyemo, CMD, LUTH & Representative of the Minister for Health; Dr. Akinbiyi Oke, CEO, Avon Medical; Professor Emmanuel Akinola Abayomi, Honorable Commissioner for Health, Lagos State; Chidi Okpala, Group Executive Director, Heirs Holdings; at the launch of the Avon Medical ultramodern facility in Lagos on April 14, 2025.
At the historic event, Babajide Sanwo-Olu, governor, Lagos state, who inaugurated the 50-bed, fully equipped facility, said that Avon Medical has put its name in the sand of time in this industry.
The opening ceremony was attended by top government officials, healthcare professionals, and industry stakeholders.
Also present at the event were Group Chairman of Heirs Holdings, Mr. Tony Elumelu, Lagos State Commissioner of Health, Prof. Akin Abayomi; Minister of Health, Prof. Muhammad Ali Pate represented by the Chief Medical Director of LUTH, Prof. Wasiu Lanre Adeyemo.
The new hospital features comprehensive diagnostic services, obstetrics and gynecology (O&G), pediatrics, and neonatal care, and is designed to serve the growing healthcare needs of Lagos residents.
Speaking at the commissioning, Governor Sanwo-Olu praised Avon Medical for its long-standing commitment to improving healthcare delivery in Nigeria.
Sanwo-Olu said: “This is more than just a hospital. It’s a bold statement of what private sector collaboration can do in transforming our healthcare landscape. For one facility to offer full diagnostics, O&G, pediatric, and neonatal care, it shows the level of intentional investment and vision behind Avon Medical.”
The Governor further commended Dr. Awele Elumelu, Chairperson, Avon Medical and co-founder of the Tony Elumelu Foundation, for her dedication to building sustainable healthcare institutions.
He said: “Dr. Awele Elumelu chose not to be comfortable in her success, but instead to invest in something meaningful something that impacts lives directly.”
“The health sector requires long-term commitment rather than short-term returns. Healthcare is not a sector where profits come quickly. It takes vision, compassion, and a strong sense of purpose.”
“We are building the largest pediatric hospital and the largest mental health facility in Sub-Saharan Africa. Health is wealth, and we’re backing that statement with action and funding. 8–10% of Lagos State’s annual budget is allocated to the health sector.”
Also speaking, Dr. Elumelu, AVON Medical Chairperson said they from the beginning resolved to focus on the problems which include overburdened public hospitals, lack of modern equipment, medical professionals being stretched to their limits, too many people frustrated as they simply couldn’t get medical help in time.
“We could not look away, so we decided to do something about it,” she said.
“That single decision to step in gave birth to Avon Medical and our health insurance company, Avon HMO.
“The first, to provide excellent healthcare services, and the other to ensure that people could actually afford them.
“That combination was deliberate. It was our way of ensuring we were not only building facilities, but we were also creating access to them.”
She said the initiative them from the humble beginnings of operating just a work-site clinic at a single location had grown into a 50-bed hospital network, including a Dialysis Centre, and several worksite clinics.
She said why the decision they took then matter could be seen from the staggering facts about our healthcare system on the Africa continent which has over 20% of the global disease burden yet has access to only 1% of healthcare resources; approximately 48% of Africans lack access to the quality healthcare they need; Only about 3% of global health workers serve our continent; In Nigeria alone, the gap in the number of available and qualified doctors, beds, and equipment reflects a system under pressure; The African healthcare system is the hardest hit by the migration crisis.
She said the challenges were not just mere numbers, but real people, real stories, real lives.
“And far too often, they represent women and children. Which is why this facility matters,” she said.
With the medical facility, she said more women will now receive the maternal care they need to safely bring life into the world.
“It means more children will get timely diagnoses, life-saving treatments, and a better shot at long, healthier lives,” she said.
“ It means more families will have access to quality and affordable healthcare services that they deserve.
“This is what we are building: a healthcare system that leaves no one behind.”
Describing the project as a reflection of “our philosophy—Africapitalism, she said, “The belief that the private sector has a major role to play in our continent’s development.
“The belief that we have a responsibility, not just to generate profit but most importantly, to create a lasting impact, to do well and do good.”
She also made it clear that to solve problems, to improve lives that will transform Africa would not end with the new project.
“ This achievement is not the end. It is only a springboard. Our vision has always been bold: to create a network of health solutions that are not only accessible and affordable, but also world-class,” she said.
House of Representatives Ad-Hoc Committee investigating the $460 million Closed Circuit Television (CCTV) surveillance project in the Federal Capital Territory has directed the Central Bank of Nigeria (CBN) to suspend further disbursements to ZTE Corporation pending clarification on the execution of the contract.
The resolution was reached on Tuesday following lawmakers’ concerns over inconsistencies, vague responses, and lack of transparency from ZTE officials regarding the project’s scope, deployment locations, and current operational status.
The committee also mandated the company to reappear with comprehensive and verifiable documentation, including a full inventory of all equipment supplied and installed, precise locations of infrastructure nationwide, and details of 456 Nigerians reportedly trained to operate and maintain the system.
The decision followed a motion moved by Ali Shettima representing Bursari/Geidam/Yunusari Federal Constituency and seconded by Kolawale Akinlayo during an investigative hearing at the National Assembly.
Donald Ojogo, chairman of the committee, said the exercise was not a witch-hunt but a fact-finding mission aimed at addressing public concerns over the project.
This is a constructive engagement, not an attempt to witch-hunt anyone. Nigerians deserve clear answers, and we expect ZTE to respond in line with the documents before us,” he stated.
Irene Momoh, representing the company, said ZTE supplied and installed CCTV infrastructure in Abuja and Lagos, noting that the project was completed between 2011 and 2012.
However, under questioning, he admitted uncertainty about the current functionality of the system.
“To the best of our knowledge, the equipment was delivered and installed within the project timeline, but I cannot confirm its present operational status,” Momoh said.
The response sparked strong reactions from lawmakers, who questioned how a project of such magnitude could lack a sustainable maintenance and continuity framework.
Momoh explained that ZTE had an initial three-month maintenance agreement, which it voluntarily extended to six months before handing over the system. He attributed the project’s decline to the government’s inability to sustain funding post-handover.
“There was no continued funding from the government to maintain and run the system after handover,” he added.
Despite this explanation, lawmakers challenged several of the company’s claims, particularly on the geographical spread of the installations.
General News
Guinness Nigeria Surpasses ₦1Trillion Market Capitalisation, Signalling Strong Investor Confidence and Sustained Value Creation
Guinness Nigeria PLC has achieved a landmark milestone, surpassing the ₦1 trillion mark in market capitalisation on the Nigerian Exchange (NGX), underscoring strong investor confidence and a sustained track record of value creation.
As of April 10, 2026, the company’s market capitalisation stood at approximately ₦1.01 trillion, with an enterprise value of ₦1.05 trillion. This milestone reflects a significant re-rating of the business by the market, driven by improved fundamentals and a renewed growth trajectory.
This achievement caps a remarkable 18-month period during which the company has delivered substantial improvements in shareholder value. As of April 12, 2026, Guinness Nigeria’s share price closed at ₦462.90, reflecting strong upward momentum and sustained investor confidence in the company’s strategic direction and performance outlook.
The company’s latest audited financial results for the 18-month period, ended 31 December 2025, further underscore this transformation. Guinness Nigeria delivered revenue of ₦730.80 billion, while gross profit rose by 152% to ₦230.48 billion, demonstrating strong margin expansion and improved operational efficiency.
In a significant turnaround, the company recorded a net profit after tax of ₦41.16 billion, recovering from a loss position in the prior period. This return to profitability highlights the success of ongoing transformation efforts and reinforces the company’s commitment to delivering sustainable, long-term value for shareholders.
The reporting period reflects a pivotal phase in the company’s evolution, including its transition to a new financial year-end of 31 December and its first full audited reporting cycle under its current ownership structure, laying a stronger foundation for future growth.
Commenting on the milestone, Prof. Fabian Ajogwu, SAN, Chairman of the Board said: “This is a defining moment for Guinness Nigeria and a strong validation of the strategic direction we are pursuing. Crossing the ₦1 trillion market capitalisation threshold reflects the resilience of our business, the strength of our brands, and the renewed confidence of the investment community in our long-term prospects. We remain committed to disciplined governance, sustainable growth, and long-term value creation for all stakeholders.”
Over the period, the company has driven performance through revenue growth, portfolio optimisation, cost discipline, and expanded route-to-market capabilities. These efforts have been complemented by a sharpened focus on innovation, premiumisation, and consumer-centric strategies, reinforcing its leadership in Nigeria’s beverage alcohol sector.
Guinness Nigeria has also continued to strengthen its balance sheet, embed sustainability into its operations, and uphold strong corporate governance standards, while maintaining its commitment to responsible consumption and positive community impact.
Looking ahead, the company remains focused on accelerating growth through consumer obsession, portfolio expansion, and continued innovation, while maintaining a disciplined approach to capital allocation and shareholder returns.
Nigeria is in the middle of one of the fastest digital infrastructure expansions on the continent. Microsoft, Google, and AWS are committing to African cloud regions. MTN and Airtel are at the forefront of advancing telecom infrastructure.
The Rural Electrification Agency is rewiring the country’s power base. And enterprise AI adoption is accelerating across banking, logistics, and public services.
On 28–30 April 2026, that ecosystem converges at Landmark Centre, Victoria Island, Lagos, as IoT West Africa, Power & Water Nigeria, and Data Centre & Cloud Expo Africa co-locate for their fifth edition.
IoT West Africa holds its place as the longest-running IoT and digital infrastructure event on the continent, and the platform that has tracked, shaped, and accelerated West Africa’s technology story from its earliest chapters.
The three-day platform spans AI, cloud, telecoms, IoT, smart infrastructure, fintech, renewable energy, hyperscale data centres, and power generation. Critical infrastructure sits at the heart of this year’s agenda: from the security and resilience of national power grids, to the fibre networks, subsea cables, and edge computing nodes that underpin Nigeria’s digital economy. This is the event where that conversation happens at the highest level.
It is the only event in West Africa where a hyperscale operator, a rural electrification agency, a 5G network operator, and a sovereign AI policymaker share the same stage, and the same room.
The event announces a strategic partnership with Africa Data Centres Association (ADCA), bringing the continent’s foremost data centre industry body into the programme to shape conversations around investment, connectivity, and cross-border infrastructure development.
Confirmed speakers include Dr. Abba Aliyu, MD/CEO of the Rural Electrification Agency; Dr. Emomotimi John Agama, Director-General of Securities and Exchange Commission Nigeria; and Christopher Ezeafulukwe, MD/CEO of Transcorp Energy; Wole Abu, MD, Equinix; Ina Alogwu, Chief Digital & Information Officer, T2 Mobile; alongside dozens of global industry leaders.
The platform brings together 5,000+ decision-makers including CIOs, CTOs, investors, regulators, and hyperscale operators, with exhibitors including Itel Energy, Vertiv, and Jubaili Bros. An exclusive VIP lounge, a startup pitch session, and a live podcast series complete the programme.
Register: Power & Water Nigeria — pnwnigeria.com/visitor-registration
IoT West Africa — iotwestafrica.com/visitor-registration
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