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Meet Wealthy Investors keeping Nigerians In Perpetual Darkness (Part 1)

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Power outages in Nigeria have certainly become a part of our everyday life, going by how long we have had to grapple with the situation. Unless something drastic is done, this abnormal phenomenon is not likely to end any time soon. However, in the past few months, the outages have assumed an embarrassingly high and alarming dimension with the power grid breaking down more frequently than it has ever happened over the past few years and plunging the nation in darkness for days, weeks and even months at a stretch in some parts of the country.

Worse still, the Minister of Power, Abubakar Aliyu, the Electricity Generating Companies and the Power Distribution Companies are trading blames over the situation. No one is willing to accept responsibility for the persistent power outages. Not even the Federal Government is willing to sanction these DISCOs and GENCOs or issue them ultimatums to do what they are meant to do. As with most issues in Nigeria, it has been business as usual. THEWILL has therefore compiled a list of wealthy investors who own electricity assets in Nigeria, so that people will know who to channel their displeasure at with hopes that they will eventually do the needful.

Femi Otedola

The billionaire investor is the major promoter of Amperion Power Distribution Limited (Geregu Power Plant) as chairman with Akin Akinfemiwa as the Chief Executive Officer.

Brigadier-General Tunde Ogbeha (retd.)

Although he is only a director in Mainstream Energy Solutions Limited in charge of Kainji Hydro Electric Plant and Jebba Hydro Station, Col. Sani Bello is the Chairman, while Alhaji Ismaila Isa is the Vice Chairman.

Engr Olubunmi Peters

He is the major investor in North South Power Company Limited in charge of Shiroro Power Station.

Tonye Cole

Although Tonye Cole is regarded as the face of KEPCO Energy Resources Limited in charge of Egbin Power Station, he however runs it with his partner, Tope Shonubi. They also invested in NEDC/KEPCO Consortium in charge of Ikeja Electricity Distribution Company with Kola Adesina as the Chairman. While the former is a power generating company, the latter is a power distribution company. Both Tonye and Tope are known for their popular oil and gas company, Sahara Energy.

Victor Osibodu

The embattled business man, who is fighting to keep his prized homes from being taken from him by Ecobank over alleged debts to the tune of $19m, is the Chairman of Vigeo Power Limited in charge of Benin Electricity Distribution Company. His wife, Funke Osibodu, a former Managing Director of Ecobank and Union Bank, is the Chief Executive Officer.

Alhaji Shehu Malami

He is the chairman of KANN Utility Consortium Company Limited in charge of Abuja Electricity Distribution Company. Neil Croucher, a Briton, is his Chief Executive Officer.

Alhaji Umaru Abdul Mutallab

The businessman and financier whose son, Umar Farouk, aka Underwear Bomber, is serving four life jail sentences and an additional 50 years in a US prison for attempting to detonate plastic explosives hidden in his underwear on board a US flight, is the chairman of Sahelian Power SPV Limited in charge of Kano Electricity Distribution Company. Alhaji Yusuf Hamisu Abubakar is the Chief Executive Officer of the power distribution company.

Augustine Nwokocha

He is the Chairman of 4Power Consortium Limited alongside the governors of Bayelsa, Cross River, Akwa Ibom and Rivers States. The distribution company is in charge of the Port Harcourt Electricity Distribution Company.

Tunde Ayeni

He is the Vice Chairman of and a major investor in Integrated Energy Distributing and Marketing Limited, with Ibadan Electricity Distribution Company and Yola Electricity Distribution Company as the company’s major assets. Although Captain Hosa Okunbo is his co-investor, with his demise, the current state of Okunbo’s investment is uncertain. A smart businessman, Ayeni made General Abdulsalami Abubakar the Chairman of the distribution company, while Dr. Sola Ayandele is the Chief Executive Officer.

Emeka Offor

The diminutive businessman, who has investments in the oil and gas industry, also has his tentacles spread in the power industry with his investment in Interstate Electrics Limited in charge of Enugu Electricity Distribution Company. He is the company’s Chairman.

Ernest Orji, Dere Otubu, Charles Momoh, Tunji Olowolafe & George Etomi

Although Ernest Orji is a director in West Power and Gas Limited in charge of Eko Electricity Distribution Company, he is a well known investor and businessman in corporate circles. He is the promoter of Southern Sun Hotel and was a non executive director in Finbank.

Charles Momoh formerly of Addax petroleum and one of the key directors of the company was the pioneer chairman of the distribution company but was recently replaced with Dere Otubu the chairman of Staco Insurance, SIC Property and Investment Company Limited, Staco Prime Capital Limited and Senforce Insurance Brokers.

Tunji Olowolafe, a serial investor and consummate business man, is also a director in the company, while George Etomi, SAN one of Nigeria’s most seasoned power sector and privatization legal experts, is also one of the founding directors in the company.

Alhaji Garba Mohammed Noma

He is the chairman of Aura Energy Limited in charge of Jos Electricity Distribution Company.

 

By; Ivory Nkonu

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X-raying Senator Nwoko, Okpai Power Plant and The Delta State Government

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By Victory Oghene

 

Few days ago, distinguished Senator, Prince Chinedu Munir Nwoko popularly known as Ned Nwoko representing Delta North at the Upper Chamber had strongly implored the Delta State Government to pay more attention to the local electricity sector, leveraging on Okpai Power Plant to improve power supply for the benefit of Deltans and attract both local and foreign direct investments.

He stressed the imperative of local access to power from the Okpai Power Plant, which, he noted, has not been of benefit to the host communities despite increased generation capacity.

 

The Senator who is the Chairman of the Senate Committee on Reparation and Repatriation, urged the Delta State Government to take charge of the state’s electricity sector to bolster power supply and improve local access to electricity. He believes state management will help fulfil the Memoranda of Understanding (MOUs) signed with oil companies for Corporate Social Responsibility projects and attract more investors to local power initiatives.

 

Nwoko harped on the intractable issue faced by the Ndokwa people, who have long generated power for the nation while experiencing inadequate electricity in their communities. He appealed to Governor Sheriff Oborevwori to ensure that captured power is redirected to benefit residents.

 

Recall that the senator had earlier collaborated with two major investors interested in collaborating with the Delta Government through Public-Private Partnerships (PPP). He pointed out that states have successfully managed federal road projects to secure refunds and suggested that the electricity sector equally deserves such intervention.

 

Gloria Okolugbo, Nwoko’s Communication Team Leader, backed the senator’s admonition to the Delta State’s government . She noted that the state government intervention would transform Delta State’s economy, taking a swipe at recent online media reports that politicised discussions about the power plant, labelling them as speculative and uninformed.

 

Nwoko provided details about the Okpai Power Plant in Ndokwa East LGA, which has been operational since 2005 and has increased its capacity to 980 MW by March 2022. Despite this, host communities have not benefited from the generated power. He emphasised that the Electricity Power Sector Reform Act (EPSRA) 2005 entitles host communities to benefit from energy projects on their land.

 

The senator reiterated his call for the state government to facilitate access to power and implement the 132KVA Double Circuit transmission line intended for Ndokwa/Ukuani communities. He stressed that domesticating the Electricity Act 2023 would attract further investment, enable mini-grids, and support independent power projects for underserved areas in the state.

 

Nwoko concluded by urging cooperation and prioritisation of the issue, aiming for a significant improvement in local power supply without engaging in unnecessary controversy.

But in what appears to be aversion to Nwoko’s advice , the state government has criticized the senator’s admonitory call on Delta State governor to intervene , labeling it diversionary and off the cuff.

 

Reacting to Nwoko, the Delta State government through the Executive Assistant to the Governor on Public Enlightenment (Projects and Policies), Mr, Olisa Ifeajika, urged Senator Nwoko to pursue the federal government for the completion of the Independent Power Plant in Okpai, Ndokwa East council area of Delta state, rather than coercing the state government to do so.

“We expected Senator Nwoko to fight at the national level and make the Federal Government get the project done and not to come to the state to coerce Governor Oborevwori to use state funds to complete the project” said Ifeajika.

He stated this at a news conference on Thursday in Asaba, Ifeajika asked Senator Nwoko to rather champion the reconstruction of federal roads that are in terrible conditions in his constituency, including the Onicha-Ugbo-Idumuje-Ugboko-Ewohinmi-Abuja road, which passes through his community (Idumuje-Ugboko) directly.

The vituperative response of the governor’s aide was a reaction Senator Nwoko who had earlier carpeted Governor Oborevwori for allegedly refusing to help actualise the step-down of the Okpai Power Plant on the ground that the state is passing through financial doldrums.

According to him, the reasons allegedly given by the governor that the state has no money because he is servicing the debt inherited from the immediate past administration were untenable.

However, Ifeajika, who said that Nigeria operates a three-tier government system with defined roles and functions, further urged Senator Nwoko to focus on the job of bringing democratic dividends from the Federal Government to his constituency, the reason why he was elected by the people.

Nwoko’s attempt to demonise Governor Oborevwori over the IPP Step-Down, a federal government project, was an unfortunate and deliberate intention to create unnecessary tension in the state, he stated.

According to him, “Nigeria’s Constitution operates three tiers of government, and we all know how government functions. At all levels, there is the Executive, the Legislative, and the Judiciary, and they complement each other to function well.

“As constituents of members of the National Assembly from the state, we look up to them to attract development in different dimensions from the Federal Government to the Constituencies.

“Senator Nwoko’s job, like those in the House of Assembly here in Delta, is to work closely with President Bola Tinubu and the Federal Executive Council to attract development to Delta North, and by extension, to the state.

“Members of the House of Assembly here are also expected to work closely with Governor Oborevwori to attract projects and dividends of democracy to their people, just as councillors are expected to work closely with Local Government Council Chairmen to attract projects to their various wards.

“The first phase of the IPP project in Okpai in Ndokwa East, whose work started in 2002, was inaugurated by then President Olusegun Obasanjo in 2005, with the capacity to generate 480 megawatts of electricity.

“Senator Nwoko knows where the authority for power generation and distribution in the country lies. He knows that the national grid where generated electricity is warehoused and distributed is under federal control.

“He knew all these and found that there was a need to get the management of the IPP to meet an agreement that was reached before now so that the Okpai community and others around that area could have a step-down.”

The governor’s aide recalled that Senator Nwoko had on March 7, 2024, moved a motion on the floor of the Senate asking the IPP Joint Venture partners—the Federal Government, represented by NNPCL, Agip, and Conoco—to complete the step-down project.

He disclosed that the motion also urged the Federal Government to investigate the delay in distributing 100 megawatts of electricity to Okpai and adjoining communities through the proposed step-down.

“The motion didn’t say that Delta State Government should carry out or complete the step-down. This is because the state government was not involved in any way.

“It did not also ask that the Delta State Government should be investigated for the delay in distributing the 100 megawatts of electricity from the IPP.

“Senator Nwoko knew where to situate the motion, and it was properly situated. We, therefore, find his utterances a bit uncharitable for him to begin to arm-twist Governor Oborevwori to pick the bill for the Okpai project, which was not in any way within the purview of the state government.

“Senator Nwoko is in Abuja to bring whatever is available there to Deltans. We see a situation where he was trying to coerce and stampede the governor as something akin to blackmail.

“It became more uncharitable when he said that the governor must bring out the money to pay the contractors upfront. This is very irregular,” he said.

But reacting to the unnecessary controversy , professor Adeagbon Moritiwon, a retired political science don stated that ‘’ What Nwoko said was in order and the reaction of the governor through his aide amounted to an overkill. After all, the senator is noted for championing the Okpai power plant, and if the state government joins hands with him to put pressure on the federal government the project will come on stream sooner than later.’’

A Deltan lawyer Ovie Darah in a chat with newsmen said ‘’ when will our politicians learn to play by the rule of politics, there are certain things that should not be politicized such as issues of infrastructural development. What Nwoko said was an advice to the governor, the only thing is that he made it public, but I can say that the governor’s response smacked of politics and is diversionary. Political actors should join hands together for the development of the nation.’’

In his own reaction, Dr. Olufemi Omoyele, a public affairs analyst said he was appalled by the welter of hired hands vilifying Nwoko since he issued some statements in the residence of General Mike Ndubuisi( Rtd), concerning the Okpai IPP project, some mischievous persons have made it a duty to create Political capital out of it.

 

Omoyele noted that he believes the senator has strong attraction to his mandate , as Senator Nwoko himself noted in several fora that he takes his mandate very seriously. ‘’The Okpai IPP project which is being handled by Nigeria Agip oil ,NNPC, Conocophilips and EniPower has been a controversial project which has witnessed a lot of delays. The expansion plan for Okpai IPP was designed for an additional power generation provided by means of a combined cycle gas turbine plant with two gas turbine generators and one steam turbine generator located 60km south west from Onitsha in Delta State, close to the River Niger.That is why the senator is worried.’’

 

It must be noted that the approved expansion of the phase 2 of the Okpai IPP project to increase the plants existing power generating capacity of 480MV by a further 450 MV to provide a total 980 MV output into the National power supply grid has been concluded.

 

In view of the seriousness of the project in the eyes of Nwoko, the Senator had sometime this year paid a working visit to the Minister of Power of Power, Adebayo Adelabu and the Managing Director, Transmission Company of Nigeria (TCN), Sule Ahmed to find a quick way to fix this lingering Okpai IPP project. The Managing Director of TCN identified lack of funds as being the primary obstacle to the project completion for the benefit of Delta North people

 

For the past 19 years since the Okpai power plant was commissioned, Senator Nwoko appears to be the first Senator from the district to spearhead a pragmatic approach towards the speedy implementation of the project to serve the people from Delta North.

 

It should be noted that as far back as 2005 , the former President, Chief Olusegun Obasanjo had commissioned the Okpai IPP and directed that the plant provide 50 megawatts of electricity to benefit the host communities within a 50- Kilometer radius from the project. Even this has not been complied with let alone implements 100 megawatts which should serve a larger number of communities in Delta North

 

It is in realization that the Okpai IPP will serve more of the interest of Delta state that Senator Nwoko approached the Delta State government to fund and complete the project for use by Deltans.

 

There is nothing new in a state government funding a private or Federal Government project if it serves the interests of its citizens.

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Billionaire Femi Otedola’s mother, Christine, receives prestigious Papal honour…

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In a remarkable recognition of her selfless service to the Catholic Church and society, Mrs Christine Doja Otedola, mother of renowned businessman Femi Otedola, has been conferred with a Papal Honour by Pope Francis.

 

 

A Papal Honour, also known as a Pontifical Honour, is a prestigious award conferred by the Pope, the head of the Catholic Church, on individuals who have demonstrated exceptional service, dedication, and commitment to the Church and society.

 

The honour, one of the highest in the Catholic Church, was presented to Mrs Otedola by His Grace, Archbishop Alfred Adewale Martins of the Metropolitan See of Lagos, on behalf of the Pope, on September 14.

 

Mrs Otedola was specifically recognised in the Pro Ecclesia et Pontifice category, a testament to her unwavering commitment to the Church and humanity.

 

Femi Otedola took to his X page to celebrate his mother’s achievement.

 

 

Sharing photos from the ceremony and expressing his pride, he wrote: “Congratulations, Mummy – Dame Christine Doja, on your award of the Papal Honour of Pro Ecclesia et Pontifice by His Holiness Pope Francis. This is an honour well deserved.”

 

 

 

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Real Reasons ICPC Arrests El-Rufai’s Finance Commissioner, Shizzer Joy Nasara Bada At Lagos Airport

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Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos. 

 

 

 

Operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have arrested a former Commissioner of Finance and Accountant General in Kaduna State, under Nasir el-Rufai’s administration, Shizzer Joy Nasara Bada at the Lagos Airport.

 

 

Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos.

 

The ICPC officials said there was rising suspicion of a potential escape in the wake of mounting corruption allegations against the ex-governor el-Rufai, and herself.

Sources close to the government indicated to The Guardian that the ICPC had been tracking Bada’s movements after receiving an intelligence report suggesting that she might leave the country to evade investigation.

 

 

 

The arrest came as part of a broader crackdown on officials who served under el-Rufai’s administration, with multiple figures now under scrutiny for their roles in the alleged financial mismanagement of the state.

 

 

Already, el-Rufai has been indicted by the Kaduna State House of Assembly in its committee report of allegedly syphoning N423 billion from the state treasury. While the specific allegations against Bada remain under wraps, insiders believe they are connected to large-scale financial irregularities, including the mismanagement of public funds and alleged embezzlement.

Bada’s arrest has sparked widespread interest, with political observers questioning whether this could be the beginning of a wider probe into the former governor’s administration.

 

 

 

The Commission is expected to provide more details as the investigation unfolds, potentially exposing a web of corruption that could implicate several top figures.

Recall that Nasir El-Rufai, had also initiated a legal action against the Kaduna State House of Assembly following its claim that his administration misappropriated N432 billion during his eight-year tenure, resulting in significant state debt.

 

 

 

A fundamental rights suit was filed at the Federal High Court in Kaduna in June by the former governor’s attorney, Abdulhakeem Mustapha, a Senior Advocate of Nigeria.

 

 

 

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