Connect with us

General

Obaseki Shines At Debate, Ize-Iyamu Fumbles

Published

on

obaseki ize-iyamu

The flag bearer of the All Progressives Congress (APC) in the September 10 Edo governorship elections, Mr Godwin Obaseki, emerged as the clear winner from the gubernatorial debate organized by Channels Television between the candidates in the governorship race – ahead of Mr Osagie Ize-Iyamu, candidate of a faction of the major opposition in the state, Peoples Democratic Party (PDP).

According to those present in the audience, Mr Obaseki was the most outstanding of the four runners in the 90-minute televised debate from Best Western Hotel, Benin City.

He exuded confidence as he expertly responded to a series of questions ranging from how he would tackle the problem of insecurity in the state; plans to diversify and significantly boost the economy of Edo; and steps to tackle unemployment and create 200,000 jobs in four years.

The consensus among young people who watched the debate was summed up by 21-year old Joy Iredia, a student of the University of Benin: “Up until now I did not take much interest in politics. But listening to all the candidates speak, I was drawn in by the candidate of the APC, Mr Godwin Obaseki, and how kept his focus on the issues and articulated his plans to take Edo State forward, particularly the use of technology as a tool for effective governance and job creation.”

On his part, Mr Osahon Bello, a civil servant, said, “The civil service forms the major workforce in Edo State. I align with Mr Obaseki’s plan to restructure the civil service in order to be more efficient and productive through robust training strategies to meet the challenges of fostering strong, sustainable and balanced economic growth.”

Mr Obaseki, a renowned investment banker and wealth management expert of over 30 years repute, posited that the economic challenges confronting us as a people today are so complex that it takes someone with a full grasp of all the issues, and practical experience in solving complex economic problems to lead the state on the path to prosperity.

Referring to the ‘simple agenda’ of PDP’s Mr Ize-Iyamu, Mr Obaseki pointed out that this is the time for us to be circumspect and think things through very carefully, not simplistically. “Simple solutions cannot solve our complex political problems; they cannot solve our complex economic problems; and can definitely not solve our complex security problems. It is mental indolence to think there are simple solutions to our problems.”

The APC flag bearer noted, “The world is set for the Fourth Industrial Revolution. We have identified the cycles and markers and we are prepared to play our part in this forward shift in the gears, ideologically opposed to being left behind. Our vision is a modern and progressive Edo State where every citizen is empowered with opportunity to live life in its fullness.”

In his closing remark, Mr Obaseki assured of better days ahead for Edo people, promising that his will be a people-oriented and inclusive government. He appealed to the electorate to support his bid by voting massively for the APC come September 10.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

General

Court Orders SERAP to Pay DSS Operatives N100m For Defamation

Published

on

serap dss

By Adedapo Adesanya

Justice Halilu Yusuf of the Federal Capital Territory High Court, Abuja, has awarded N100 million in damages against the Incorporated Trustees of the Socio-Economic Rights and Accountability Project (SERAP).

In his judgment, Justice Yusuf held that two operatives of the Department of State Services (DSS) were right to institute a defamation suit against SERAP.

In the suit, filed in the names of the two DSS officials, Ms Sarah John and Mr Gabriel Ogundele, the claimants accused SERAP of making a false allegation that they invaded its office in Abuja on September 9, 2024.

The court also ordered the organisation to tender a public apology to the two operatives, to be published in two national newspapers and broadcast on two television stations.

In addition, the court awarded N1 million against SERAP as the cost of litigation.

The judgment further stipulated a 10 per cent interest on the damages until the sum is fully paid.

The case follows a dispute that began in September 2024 when SERAP alleged that DSS officers “unlawfully invaded” its Abuja office.

In a post on its X account, the group said, “Officers from Nigeria’s State Security Service are presently unlawfully occupying SERAP’s office in Abuja, asking to see our directors.”

It added, “President Bola Tinubu must immediately direct the SSS to end the harassment, intimidation, and attack on the rights of Nigerians.”

The DSS, however, denied the claims.

It said the visit by its officers was routine and meant to engage the organisation’s new leadership.

The officers later sued, insisting that “no invasion occurred” and that the claims damaged their reputation and led to disciplinary action.

However, SERAP maintained its position.

In a later statement, it said, “We stand by our statements of defence and statements on oath,” insisting that DSS officers “unlawfully invaded our Abuja office.”

During court proceedings, witnesses reportedly said no physical assault took place.

SERAP’s Deputy Director, Mr Kolawole Oluwadare, told the court the claims were based on information from a staff member.

Counsel to the DSS officers, Mr Oluwagbemileke Kehinde, urged the court to grant all reliefs, arguing that the claimants had “substantially proved their case.”

Continue Reading

General

UK Court Freezes Nigerian Oil Trader’s Global Assets Over $40m Debt

Published

on

Abdulrahman Musa Bashar

By Adedapo Adesanya

A court in the United Kingdom has taken sweeping action against a Nigerian oil trader, Mr Abdulrahman Musa Bashar, freezing his assets worldwide in a bid to secure repayment of a long-running debt dispute tied to failed fuel transactions.

The order, issued by the High Court in London, prevents Mr Bashar and his firm, Ultimate Oil and Gas FZCO, from selling, transferring, or otherwise dealing with assets across multiple jurisdictions, including Nigeria, the United Arab Emirates, the United Kingdom, and France. The restriction applies up to the value of the outstanding liability, with disclosed holdings estimated at nearly $170 million.

According to Business Day, the dispute traces back to oil trading agreements between 2022 and 2023, when Dubai-based Petrichor Energy supplied gasoil and Jet-A1 aviation fuel to Ultimate.

Court filings indicate that while deliveries were completed, payments were inconsistent and ultimately fell short, leaving the supplier to pursue legal and arbitration routes to recover its funds.

In an attempt to resolve the matter, Mr Bashar entered a personal repayment agreement in early 2024, backing the company’s obligations with his own guarantee.

He also issued a series of signed cheques as security. However, these measures failed to yield results, as the debt remained unsettled and the cheques were rejected upon presentation.

The court’s decision to impose a global freeze was influenced by what it described as troubling conduct during the dispute. Evidence suggested that assets were being sold without proceeds going toward the debt, alongside concerns that not all holdings had been fully disclosed.

The newspaper reported that testimony also pointed to an alleged warning from Mr Bashar that he might move assets out of reach if negotiations broke down, an assertion the court treated as a credible risk of asset dissipation.

The ruling adds to a growing list of legal challenges facing the businessman. He has previously been sanctioned by English courts for failing to comply with orders in a separate commercial dispute, and was also convicted in Dubai, the UAE, in a different cheque-related case.

With the freezing order now active, Petrichor has expanded its recovery efforts beyond the UK, initiating enforcement actions in both the UAE and Nigeria.

The move aims to block any pathways through which assets could be shielded, while also enabling seizure or control where legally permitted.

In a further escalation, the English court has directed two Nigerian-linked companies associated with Mr Bashar to grant access to a Delta State storage facility, allowing the creditor to recover fuel cargoes tied to the unpaid transactions. Failure to comply could trigger additional legal consequences, including contempt proceedings.

Despite ongoing attempts by Mr Bashar and his company to overturn the freezing order, the court has so far declined to lift the restrictions, leaving the enforcement process firmly in motion.

Continue Reading

General

IFC, Norfund Back Nigeria’s Mini-Grid Expansion with $83.2m Funding

Published

on

Mini Grids Programme

By Adedapo Adesanya

The World Bank’s financing arm, the International Finance Corporation (IFC), and the Norwegian investment fund (Norfund) have committed up to $83.2 million to expand solar hybrid mini-grids across Nigeria, in a move expected to connect nearly half a million new users to electricity.

The funding will support five renewable energy companies, Darway Coast Nigeria Limited, GVE Projects Limited, Prado Power Limited, PriVida Power Limited and StarTimes Energy, to build 315 mini-grid sites across underserved communities.

The projects are projected to deliver about 494,189 new electricity connections. Renewable energy solutions

IFC says the intervention is aimed at closing Nigeria’s massive electricity gap, noting that more than 85 million people in the country still live without access to power.

The institution said expanding distributed renewable energy will not only improve electricity access but also cut energy costs and support small businesses in rural areas.

According to IFC, “By supporting distributed renewable energy solutions, this initiative will help expand access to reliable electricity while reducing energy costs, strengthening local economies, and enabling income-generating activities.”

For operators already working in the sector, the new funding is expected to speed up expansion plans.

The chief executive of Darway Coast Nigeria Limited, Mr Henry Ureh, said the support will allow companies to scale faster and reach more communities that have remained off the national grid for years.

“Access to reliable electricity allows us to expand our operations, support local businesses, and create jobs in the communities we serve,” he said.

Nigeria’s off-grid power space has been growing steadily, but access remains uneven. Data from the Africa Solar Industry Association shows that the country currently has over 4.8 gigawatts of installed solar capacity, but only about 115 megawatts come from mini-grids serving rural communities.

The IFC has been one of the biggest institutional backers of this segment. Last year, it announced a separate $16 million financing package for Nigerian developer Virtuitis to build 97 mini-grids expected to serve over 140,000 off-grid consumers by 2027, showing a steady increase in international interest in decentralised power solutions.

With grid supply still unreliable in many parts of the country, mini-grids are increasingly becoming the most practical solution for rural electrification as they supply adequate but limited power for limited power consumption.

For many communities, the impact goes beyond electricity. Reliable power is expected to support trading activities, agro-processing, small manufacturing and education, all of which have struggled under years of unstable supply. But operators also warn that sustained policy support and stable regulation will be key to scaling beyond pilot-level projects.

As deployment begins across the 315 sites, observers are keen on understanding how quickly these projects can move from funding to actual connections to where they are needed.

Continue Reading

Trending