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63rd Birthday: Tinubu Lauds Elumelu’s Africapitalism Drive

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By Modupe Gbadeyanka

The Chairman of Heirs Holdings, United Bank for Africa (UBA) and Transcorp Plc, Mr Tony Elumelu, has been praised by President Bola Tinubu for his Africapitalism drive as he clocks 63 today, Sunday, March 22, 2026.

In a statement on Saturday, Mr Tinubu described the economist, banker and philanthropist as an African business icon and a leading advocate of enterprise on the continent.

He hailed him for his resilience, commitment to excellence and unwavering belief in Africapitalism, which birthed the Tony Elumelu Foundation (TEF), which has significantly empowered young Africans through entrepreneurship.

The President said the foundation’s entrepreneurship programme had trained about 2.5 million youths across 54 African countries and provided over 24,000 entrepreneurs with non-refundable seed capital of 5,000 dollars each.

He highlighted Mr Elumelu’s continued investment in youth development as critical to Africa’s economic transformation and job creation, joining family, friends and associates of the business leader in wishing him good health, strength and more success in his future endeavours.

TEF is rallying young entrepreneurs to power Africa’s Sustainable Development Goals (SDGs) agenda ahead of 2030, according to the chief executive of the organisation, Ms Somachi Chris-Asoluka, during a virtual media parley on Saturday.

The media parley was held ahead of the 2026 TEF selection announcement scheduled for Sunday, March 22, to unveil the newest cohort of 3,200 young African entrepreneurs selected for this year’s TEF Entrepreneurship Programme.

Ms Chris-Asoluka said the foundation was prioritising entrepreneurs whose businesses actively contributed to the United Nations Sustainable Development Goals (SDGs) as part of efforts to reposition Africa for accelerated development ahead of 2030.

While taking questions from journalists, she said the foundation’s selection framework placed strong emphasis on impact, ensuring that supported enterprises are not only profit-driven but also aligned with global development priorities.

She said that TEF encouraged applicants to clearly demonstrate how their business ideas would contribute to the SDGs, noting that such alignment is critical to closing Africa’s development gaps.

“We want our entrepreneurs to actively contribute to the SDGs so that by 2030, Africa will no longer lag, but will be able to meet and surpass these goals,” she said.

According to her, this focus is central to the foundation’s broader mission of fostering inclusive economic growth, job creation and sustainable development across the continent.

She said that entrepreneurs were assessed, not just on profitability and scalability, but also on their potential to drive measurable social and economic impact in areas such as education, healthcare, climate action and digital innovation.

Ms Chris-Asoluka said that the foundation believed Africa’s young entrepreneurs hold the key to advancing sustainable development, stressing that innovation from the private sector is essential to achieving long-term growth.

She said that TEF remained committed to supporting early-stage entrepreneurs with training, mentorship and seed funding, while ensuring that their ventures align with the continent’s development priorities.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Kebbi Attack Claims 44 Lives Across Eight Communities

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By Adedapo Adesanya

The Kebbi State Police Command says 44 people were killed following a coordinated attack on eight communities in Shanga Local Government Area of the North-Western state.

The affected villages include Gebe, Kalkami, Kawara, Kasoshi, Awaye, Tungar Rini, Binuwa, and Dabe.

In a statement issued on Friday, the Kebbi Police Command Public Relations Officer, Mr Bashir Usman, said it launched a statewide clearance operation.

Mr Usman said the operation followed the directive of the Inspector-General of Police (IGP) Olatunji Disu, aimed at preventing further banditry and violent crimes across the state.

The police stated that massive deployments of police personnel and other security agencies have been made to the affected communities, leading to the return of relative calm.

The command added that discreet investigations have commenced into the attack.

The ongoing clearance operation, according to the police, is targeting high-risk areas such as farmlands, forests, border communities, and remote settlements.

It also includes coordinated patrols, intelligence-led stop-and-search operations, and joint actions with other security agencies.

As part of the operation, the police said two AK-47 rifles were recovered along the Illo-Kamba axis, describing it as evidence of the effectiveness of intelligence-led policing.

The Commissioner of Police in the state, Mr Umar Hadejia, called on residents to remain vigilant and cooperate with security agencies by providing timely and credible information.

Mr Hadejia also urged traditional rulers, community leaders, religious bodies, and youth groups to support ongoing efforts to restore peace and strengthen security across the state.

Residents had reportedly appealed to President Bola Tinubu and Kebbi State Governor Nasir Idris to take decisive action to restore security in the area and enable displaced residents to safely return to their homes.

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TUC Calls for 60% Oil Windfall Allocation to Cut Petrol Costs

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By Adedapo Adesanya

The Trade Union Congress (TUC) of Nigeria has proposed that the federal government deploy at least 60 per cent of excess crude oil revenue above the budget benchmark to subsidise feedstock for local refineries, including the Dangote Refinery.

The President of the group, Mr Festus Osifo, made the proposal in Abuja yesterday, warning that the rising cost of petrol has placed unbearable pressure on households and businesses and that such urgent measures remain necessary to ease economic hardship on Nigerian workers.

Mr Osifo explained that crude oil prices above the budget benchmark of $64.85 per barrel currently generate excess revenue shared among the three tiers of government.

He argued that redirecting a significant portion of this surplus into subsidising crude supply for domestic refining would reduce production costs and translate quickly into lower pump prices for petrol, diesel and aviation fuel.

The labour leader noted that the sharp increase in fuel prices, exacerbated by global supply disruptions linked to geopolitical tensions, has worsened transportation costs and manufacturing expenses, ultimately driving up the prices of goods and services.

According to him, the situation risks reversing the modest decline in inflation recorded in recent months.

He said, “We are seeing that the cost of petroleum is edging towards N2,000 per litre, and Nigerian workers are facing excruciating pain as we speak. What we are saying is that if crude oil prices exceed the budget benchmark, let the government take at least 60 per cent of that excess and use it to subsidise crude supplied to Dangote Refinery and other local refineries.

“When you subsidise production directly, it reduces the cost of feedstock, and that will translate immediately to a reduction in the pump price of petroleum products. When this is done, I can assure you that within one to two weeks, the prices of PMS, AGO, and jet fuel will go down, and Nigerians will begin to feel relief.”

Mr Osifo also stressed the need for immediate relief measures, alongside long-term investments in alternative energy such as compressed natural gas (CNG). While acknowledging government efforts to introduce CNG-powered buses, he said inadequate infrastructure remains a major challenge limiting their impact.

He also expressed concerns over the persistent insecurity across the country, urging the government to prioritise investment in modern security equipment and technology while commending security agencies for their ongoing efforts.

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NIS Suspends Officers Over Extortion Allegations on Lagos-Seme Corridor

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By Adedapo Adesanya

The Nigeria Immigration Service (NIS) has ordered the suspension of senior officers overseeing key commands along the Lagos-Seme corridor following allegations of extortion.

The suspension follows the circulation of online reports accusing immigration personnel at the busy border route of misconduct “bordering on extortion,” prompting immediate intervention from the agency’s leadership.

According to a spokesperson of the border controller, Akinsola Akinlabi, in a statement on Friday, April 10, the NIS Comptroller-General, Mrs Kemi Nandap, had “temporarily relieved the Comptrollers in charge of the affected Commands of their duties” pending the outcome of an ongoing investigation.

The service distanced itself from the alleged conduct, with Mrs Nandap condemning the actions in strong terms, describing the incidents as “unacceptable” and in “direct violation of the core values, ethics, and operational standards of the Service”.

According to the statement, a full-scale probe has been launched to uncover the extent of the нарушения, identify officers involved, and enforce sanctions without delay.

“The investigation will be comprehensive… ensuring appropriate disciplinary measures are applied with immediate effect,” the statement said.

While the probe continues, the Service sought to reassure the public of its commitment to professionalism at Nigeria’s borders.

“The service wishes to reassure the general public that it remains committed to delivering professional, transparent, and efficient services at all points of entry and exit,” it stated.

“It will not condone any act that undermines public trust or tarnishes the integrity of the service.”

The agency also called on Nigerians to report misconduct through its official complaint channels, including social media platforms and its 24-hour contact centre, noting that internal oversight mechanisms are being strengthened.

“The Nigeria Immigration Service remains resolute in its mission to serve with integrity, discipline, and professionalism while facilitating lawful migration,” the statement added.

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