General
Buhari Renames Abuja Stadium MKO Abiola Stadium
By Modupe Gbadeyanka
President Muhammadu Buhari on Wednesday, June 12, 2019, announced the renaming of the Abuja National Stadium to MKO Abiola Stadium.
The President made this proclamation during his speech at the Eagle Square today at an event organised to celebrate the June 12 holiday.
On June 12, 1993, Nigerians headed to the polls to elect a new president, but results of the exercise, which was believed to have been won by one of the contestants, late Moshood Kashimawo Olawale Abiola, was annulled by the then military president, General Ibrahim Babangida (rtd).
The late businessman, who later declared himself as president of the nation, was arrested and put in detention by the late General Sani Abacha. Mr Abiola, on July 7, 1998, died in prison, barely a month after Mr Abacha died, precisely on June 8, 1998.
Few days ago, President Buhari signed a bill to make June 12 a national holiday in Nigeria as well as Democracy Day instead of the May 29 observed in the past, which will still remain the handing over of government day.
During his democracy day speech in Abuja today, Mr Buhari said, “I propose the renaming of the Abuja national stadium. It will be called the MKO Abiola Stadium.”
Late Abiola was born on August 24, 1937 in Abeokuta, Ogun State to the family of Salawu and Suliat Wuraola Abiola.
His father was cocoa trader and was his father’s 23rd child, but the first of his father’s children to survive infancy, hence the name ‘Kashimawo’ (Let’s wait and see). It was not until he was 15 years old that he was properly named Moshood by his parents.
Mr Abiola attended African Central School, Abeokuta for his primary education and as a young boy, he assisted his father in the cocoa trade, but by the end of 1946, his father’s business venture was failing precipitated by the destruction of a cocoa consignment declared by a produce inspector to be of poor quality grade and unworthy for export and to be destroyed immediately.
In 1956, Mr Abiola started his professional life as a bank clerk with Barclays Bank in Ibadan, South-West Nigeria. After two years, he joined the Western Region Finance Corporation as an executive accounts officer, before leaving for Glasgow, Scotland, to pursue his higher education. From Glasgow University, he received a first class degree in accountancy, and he also gained a distinction from the Institute of Chartered Accountants of Scotland.
On his return to Nigeria, he worked as a senior accountant at the University of Lagos Teaching Hospital, then went on to US firm Pfizer, before joining the ITT Corporation, where he later rose to the position of Vice-President, Africa and Middle-East.
The late Abiola spent a lot of his time, and made most of his money, in the United States, while retaining the post of chairman of the corporation’s Nigerian subsidiary.
Before his death, the late philanthropist was the Aare Ona Kankafo of the Yoruba land. He was posthumously awarded the GCFR, the highest national title reserved for Presidents in Nigeria, on June 6, 2018 by President Muhammadu Buhari.
By Modupe Gbadeyanka
The sextet of Onlinebanker, Adetunji Films, More Branches TV, Wearegst, Iswellthecapitalist and The Republic have been selected for the Emerging News Voices Growth Lab organised by Google News Initiative (GNI).
The six Nigerian independent news creators are among roughly 20 emerging news creators from across the region taking part in the multi-month virtual programme, which runs through late September 2026.
Over the course of the programme, participants work directly with Google trainers and product experts across four areas:
AI in the newsroom: hands-on integration of Google’s AI tools, including Gemini, NotebookLM, Google Trends and SynthID, into daily workflows for research, transcription, translation and verification.
Video and audience growth: practical frameworks for building YouTube channels, using both Shorts and long-form video to reach new audiences.
Direct reader relationships: strengthening open web presence and newsletters to build first-party audiences the newsroom owns.
Sustainable revenue: sessions on monetisation strategy, product differentiation and audience growth models.
“Independent news creators and digital-native newsrooms are shaping how Africans, and Nigerians in particular, find and understand the news.
“The Growth Lab gives these creators what growing newsrooms need most: practical AI skills, a clear video and audience strategy, direct relationships with their readers and a path to sustainable revenue.
“When emerging voices build capability and financial independence, the whole news ecosystem becomes more resilient, diverse and sustainable,” the News Partnerships Lead for the Middle East and Africa at Google, Marianne Erasmus, stated.
Commenting on being part of the cohort, the Editor-in-Chief of The Republic, Mr Wale Lawal, said, “Google’s Emerging News Voices Growth Lab is giving us practical ways to combine audience insight, product thinking and the responsible use of AI as we build a more sustainable future for The Republic’s journalism.”
Also speaking, his counterpart at MoreBranches, Mr Nasir Achile Ahmed, said, “The program has been valuable to our newsroom, providing information that validates observations we’d made previously, as well as access to tools and the knowledge to use them effectively. Beyond that, engaging with experts and fellow journalists has created a supportive environment that is helping us strengthen our storytelling.”
Creator-led digital journalism is changing how Nigerians, especially younger audiences, find and consume news. Social-first channels and digital-native platforms increasingly drive news discovery, yet the newsrooms behind them often run lean, with limited access to the tools, training and revenue expertise available to established publishers. The GNI Growth Lab is built to close that gap.
The Growth Lab grew out of the Global News Gap Project, a continent-wide mapping of independent African news creators conducted with Project Oasis and Code for Africa, which identified where emerging newsrooms most need support.
The Growth Lab is the latest step in Google’s continued support for Nigerian media. Since 2018, Google has funded newsroom transformation projects through the GNI, helped publishers grow advertising revenue through the Ad Manager Academy, and shared ad revenue with Nigerian publishers through Google AdSense and Google Ad Manager.
Since 2024 alone, Google has trained more than 1,500 Nigerian journalists and editors in online safety, advanced Search, digital verification and audience analytics. Google also supports media skilling through its collaboration with the MTN Media Innovation Programme, where fellows receive hands-on sessions on AI as a productivity partner and on newsroom technology, from News Consumer Insights to Gemini.
By Adedapo Adesanya
The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Plc over the company’s cumulative market obligations of N456.5billion and prolonged financial and operational challenges.
The regulator also appointed an interim board of special directors and directed the commencement of a transparent process for selecting a new core investor for the electricity distribution company.
The decisions were contained in Order No. NERC/2026/086, titled Order on the Regulatory Intervention in Kaduna Electricity Distribution Plc Pursuant to the Electricity Act 2023, which took effect on Monday, August 10, 2026.
NERC said the intervention followed an inquiry and consultations with key industry stakeholders, including the Bureau of Public Enterprises, and was necessitated by KAEDC’s prolonged regulatory and market defaults, inadequate investment and weak operational and commercial performance.
The commission said KAEDC’s cumulative market obligation since privatisation stood at approximately N456.5 billion as of May 2026, comprising N415.5 billion owed to the Nigerian Bulk Electricity Trading (NBET) Plc and N41 billion due to the Nigerian Independent System Operator (NISO)
The company also had other non-market statutory and third-party obligations amounting to N14.26billion, according to the regulator.
NERC said that since ASI Engineering Limited took over operations of KAEDC in June 2024, the company had accrued additional market debt of more than N118.6 billion as of May 2026.
The Commission described the company’s situation as grave, citing prolonged regulatory and market defaults, inadequate investment, weak operational and commercial performance, insufficient assets relative to liabilities and the absence of a credible pathway to sustainable recovery.
NERC said KAEDC paid only 41.93 per cent of its adjusted market invoices in 2025, resulting in a market shortfall of approximately N46.71bn during the year.
It linked the poor remittance performance to the company’s high aggregate technical, commercial and collection losses, which stood at 71.88 per cent in 2025.
The regulator explained that the losses meant KAEDC could account for only 28.2 per cent of the electricity received and delivered to end-use customers during the review period.
NERC also said ASI failed to meet its capital injection commitments towards recapitalising the utility.
According to the commission, KAEDC’s actual capital expenditure in 2025 was approximately N2.48 billion, against a minimum provision of N24.51 billion, representing only 10 per cent performance.
The regulator further noted that KAEDC’s meter coverage had remained between 33.26 per cent and 35.54 per cent since ASI took over the company, despite several interventions aimed at supporting meter deployment across distribution companies.
NERC said the company’s financial difficulties persisted despite approximately N6.58billion in regulatory derogations granted between January 2024 and May 2026 and aggregate Federal Government intervention disbursements of approximately N53.79 billion since July 2018.
It warned that the continued underperformance posed a material risk to electricity consumers, creditors, market stability and the continuity of electricity services.
NERC said it had previously notified KAEDC’s major shareholders and Afreximbank of the imminent intervention and required them to present a credible plan to address the company’s financial situation.
Representatives of ASI, NERC, BPE, Afreximbank and Fidelity Bank subsequently met on June 11, 2026, to discuss proposals for rescuing the company.
According to the commission, the parties agreed that ASI had not complied with conditions prescribed for its acquisition of a 60 per cent majority shareholding in KAEDC and had also failed to comply with BPE requirements for finalising the shareholding arrangements.
NERC said ASI subsequently requested an extension of up to 24 months to stabilise KAEDC’s cash flow, prioritise critical investments and deliver measurable performance improvements, including a pathway to full market remittance.
The regulator, however, rejected the request, saying ASI had been in effective control of KAEDC since June 2024 without a corresponding improvement in its financial and operational performance.
NERC subsequently resolved to exercise its powers under Sections 75 to 79 of the Electricity Act 2023 to dissolve the KAEDC board, preserve the company as a going concern and facilitate a transparent transition to a credible core investor within 12 months.
Consequently, the commission ordered the dissolution of KAEDC’s board and removal of all its directors from office.
“KAEDC’s board of directors is HEREBY DISSOLVED. All directors of KAEDC are removed from office, and the existing board stands dissolved pursuant to section 75 of the EA,” the order stated.
NERC appointed seven special directors to constitute the interim board for the transition period, with Dr Abdullahi Garba as chairman. Other members are Engineer Francis Agoha, Mr Aliyy Aliyu, retired Major General Henry Ayamasaowei, Dr Haliru Dikko, Mr Ayodeji Gbeleyi, representing the BPE, and Dr Abubakar Umar Hashidu.
The commission also appointed the incumbent Managing Director and Chief Executive Officer, Dr Abubakar Umar Hashidu, as administrator for an initial six-month term, subject to review.
NERC said the administrator would oversee the company’s day-to-day operations, ensure continuity of electricity services, implement interim board resolutions, comply with regulatory directives and safeguard the company’s assets and records.
The commission also withdrew the Know-Your-Licensee approvals issued to members of KAEDC’s management team and directed affected management staff to present themselves for revalidation.
Meanwhile, NERC directed Afreximbank to coordinate an open, competitive and transparent process for securing a replacement core investor for KAEDC.
The preferred investor is to be presented to NERC for approval, with the process expected to be completed within 12 months from the commencement of the order, unless the commission grants a written extension.
By Adedapo Adesanya
The federal government has unveiled the Tinubu Light Initiative, a presidency-backed renewable energy programme designed to provide affordable clean electricity to one million Micro, Small and Medium Enterprises across Nigeria.
The initiative, unveiled by the National Board for Technology Incubation during the National Showcase of the NextGen Innovation Challenge 2026 in Abuja, is also expected to create more than 50,000 direct jobs while supporting local manufacturing and accelerating the adoption of renewable energy.
The programme is targeted at reducing the high cost of energy that continues to constrain businesses, particularly MSMEs that rely heavily on petrol and diesel generators amid persistent gaps in grid electricity supply.
Speaking at the event, the Director-General and Chief Executive Officer of the NBTI, Mr Kazeem Raji, said the initiative was developed in response to the growing energy burden faced by Nigerian businesses.
Mr Raji said the Tinubu Light Initiative would deploy innovative financing models, strategic partnerships and renewable energy technologies to provide cleaner and more affordable electricity to MSMEs nationwide.
“The Tinubu Light Initiative seeks to change this narrative. Through innovative financing models, strategic partnerships, renewable energy technologies and nationwide implementation, this initiative will provide affordable clean energy solutions to one million Nigerian MSMEs,” he said.
According to him, lowering the energy costs of one million businesses would enable them to redirect resources towards expansion, investment and job creation, while strengthening the competitiveness of locally produced goods.
Mr Raji said the initiative would also go beyond electricity access by supporting the local assembly and production of renewable energy equipment, reducing carbon emissions and expanding access to digital financing, with particular opportunities for women and young entrepreneurs.
“This initiative goes beyond electrification. It is an industrial policy. It is an employment strategy. It is a poverty reduction programme. It is a climate action initiative. It is a national productivity agenda,” he said.
The initiative comes against the backdrop of rising energy costs for Nigerian businesses, with many MSMEs increasingly dependent on self-generation to sustain operations. The cost of petrol and diesel used to power generators has become a significant component of operating expenses, limiting production capacity and putting pressure on jobs.
Mr Raji said the Tinubu Light Initiative was aligned with the Federal Government’s broader economic strategy of leveraging technology, innovation and entrepreneurship to boost domestic production and create sustainable employment.
At the event, he also highlighted the NextGen Innovation Challenge, which attracted thousands of applications from innovators across sectors including renewable energy, agriculture, artificial intelligence, biotechnology, healthcare, manufacturing, education, fintech, climate technology and industrial engineering.
He said the challenge was increasingly becoming a platform for connecting Nigerian innovators with investors and supporting the transition of promising technologies from research and development to commercial applications.
Mr Raji disclosed that an innovator who participated in the inaugural 2025 edition secured a £1.5 million investment commitment, while agricultural technologies developed through the programme are being deployed in Kaduna, Bauchi and other states to improve productivity and reduce post-harvest losses.
He said the NBTI would continue to leverage its network of Technology Incubation Centres to identify innovators, provide mentorship, facilitate technology transfer and support the commercialisation of indigenous technologies.
Mr Raji further announced that the NextGen Innovation Challenge had secured the support of the Commonwealth Secretariat, which would enable the programme to expand beyond Nigeria into a Commonwealth-wide initiative involving all 56 member countries.
