General
AMCON Sells IBEDC to Undisclosed Bidder for N100bn
By Adedapo Adesanya
An undisclosed bidder has taken over the Ibadan Electricity Distribution Company (IBEDC) after paying about N100 billion to the Asset Management Corporation of Nigeria (AMCON).
IBEDC is one of five power distribution companies that the federal government announced in April 2024 it would be selling. The others include Abuja Electricity Distribution Company (AEDC), Benin Electricity Distribution Company, Kaduna Electricity Distribution Company, and Kano Electricity Distribution Company.
These firms had been under the administration of AMCON and commercial banks following debt recovery proceedings
The corporation also accused debtors of undermining the Nigerian economy, alleging that many never intended to repay the loans they secured from various banks.
The chief executive of AMCON, Mr Gbenga Alade, at a media parley in Lagos on Thursday, explained that the sale to the undisclosed bidder is a major step in the federal government’s ongoing divestment from distressed electricity distribution companies.
According to him, IBEDC’s divestment is almost completed and that AMCON would soon hand over the company to the preferred bidder, whose name can’t be revealed yet, noting that the transaction, which is part of the federal government’s wider power sector reforms, will soon be concluded with the handover of IBEDC to the preferred bidder.
“Today, I announce to you that Ibadan DisCo has been sold,” Mr Alake declared.
He continued: “When we came in, it had already been sold. It was sold for how much? We got in and said no, it cannot be. We said they should go and submit a new offer, that we were not going to sell for that. At the end of the day, we got almost double of what Ibadan DisCo was going to be sold for.”
He acknowledged that sale has not been without controversy, adding that the deal has attracted legal challenges, describing the current landscape as one riddled with “so many interests now fighting and writing.”
On recalcitrant debtors, the AMCON boss noted that going after them is a tall order that requires unflinching determination.
“Dealing with AMCON’s recalcitrant debtors is not easy, but dealing with such debtors who are in government, holding very high positions across different decision-making portfolios in governance in the country, is one of the most challenging tasks that I have ever faced in my career but we are not deterred by these antics.
“Our appointment is a call to serve the motherland and we will deliver that with all humility and sincerity of purpose. If you recall, the last time we met, we told you there was a ban on asset sales.
“But today, with the Board now in place, the sale of assets by AMCON has been lifted, and consequently, we have sold some high-profile assets running into several billions of Naira,” Mr Alade stated.
By Modupe Gbadeyanka
The Lagos State Commissioner for the Environment and Water Resources, Mr Tokunbo Wahab, has disclosed that the state government has not restricted the movement of people during the re-introduced monthly environmental sanitation exercise.
Responding to an enquiry by an X user, Faveo Autos, on Saturday, he said the exercise was not brought back to restrict the movement of residents, noting that arresting anyone during the sanitation was unlawful and not backed by law.
However, he encouraged Lagosians to use the period to keep their surroundings clean.
“What is the fine for movement during environmental [sanitation]?” Mr Wahab was asked by Faveo Autos today.
In his response, the Commissioner said, “For clarity, there is no restriction on movement during the monthly environmental sanitation exercise. Consequently, arresting anyone on the basis of movement during the exercise is unlawful and does not represent the position or policy of the Lagos State Government.
“The monthly environmental sanitation exercise was reintroduced primarily to restore and strengthen the culture of environmental cleanliness across the state.
“The initiative is backed by the Lagos State Environmental Management and Protection Law, 2017. However, the law does not provide for any restriction on movement during the exercise.
“Our focus is on encouraging Lagosians to embrace environmental sanitation as a civic responsibility and a shared commitment to maintaining a cleaner, healthier, and more sustainable Lagos, rather than relying on enforcement measures.”
Life is full of unexpected moments that test our patience, strength, and perspective. Everyone experiences setbacks, disappointments, and periods of uncertainty. While these moments can feel overwhelming, they also provide opportunities for personal growth and self-discovery.
One of the most valuable lessons we learn is that difficult situations rarely last forever. Time, reflection, and a willingness to adapt often help us move beyond even the toughest circumstances. Maintaining a positive outlook and focusing on practical solutions can make a significant difference.
Relationships also play an important role in overcoming hardships. Support from family, friends, or mentors reminds us that we are not alone. At the same time, learning to let go of anger and resentment can free us from emotional burdens that prevent us from moving forward.
The only way out of the labyrinth of suffering is to forgive. It is nothing to die. It is frightful not to live. Everything was beautiful and nothing hurt.
Personal growth is not about avoiding challenges but about responding to them with resilience and wisdom. Every experience, whether positive or negative, contributes to the person we become. By embracing change and practicing gratitude, we can create a more meaningful and fulfilling life.
In the end, moving forward requires courage, forgiveness, and hope. When we choose to focus on what we can control instead of dwelling on the past, we open ourselves to new opportunities and a brighter future.
By Modupe Gbadeyanka
The establishment of four new army divisions has been approved by President Bola Tinubu, bringing the total to 12.
In a statement on Thursday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, it was stated that the President also authorised the recruitment of 28,000 additional personnel to strengthen national security.
The new divisions created include 5 Division, with the headquarters in Makurdi covering Benue, Nasarawa and Kogi States; 9 Division, with the headquarters in Ilorin covering Kwara and Niger States; 10 Division, with the headquarters in Jalingo covering Taraba and Adamawa States; and 83 Division, with the headquarters in Benin City covering Edo, Delta and Bayelsa States.
It was disclosed that the establishment of the new Divisions in Makurdi, Ilorin, Jalingo and Benin City will significantly improve command and control, decentralise operational decision-making, strengthen border security, enhance the protection of critical national infrastructure, improve counter-insurgency and internal security operations, and ensure faster military response to emerging threats nationwide.
Implementation of the new force structure will be done in two phases. The first phase, covering the establishment of the 5, 9, and 10 Divisions and the reorganisation of existing formations, will be completed by September 2026. The second phase, involving the establishment of the 83 Division and further reorganisation, is expected to be completed by December 2026.
The statement said the expansion of the Nigerian Army’s structure from eight to twelve divisions will improve the operational effectiveness of the security agency and strengthen national defence capabilities further.
Before now, the Nigerian Army operated 1 Division, with the headquarters in Kaduna covering Kaduna, Kano, Katsina and Jigawa States; 2 Division, with the headquarters in Ibadan covering Oyo, Osun, Ekiti and Ondo States; 3 Division, with the headquarters in Jos covering Plateau, Bauchi and Gombe States; 6 Division, with the headquarters in Port Harcourt covering Rivers, Akwa Ibom and Cross River States; 7 Division, with the headquarters in Maiduguri covering Borno and Yobe States; 8 Division, with the headquarters in Sokoto covering Sokoto, Kebbi and Zamfara States; 81 Division, with the headquarters in Lagos covering Lagos and Ogun States; and 82 Division, with the headquarters in Enugu covering Enugu, Anambra, Abia, Ebonyi and Imo States.
Mr Tinubu reaffirmed his administration’s determination to continue investing in the Armed Forces, ensuring they remain adequately equipped, highly motivated, and fully capable of protecting the nation and guaranteeing the safety and security of all Nigerians.
He lauded the Chief of Army Staff, Lieutenant General Waidi Ibrahim Shuaibu, and all officers and soldiers of the Nigerian Army for their dedication, professionalism, and steadfast commitment to defending Nigeria’s sovereignty and territorial integrity.
