General
Buhari, Others Mourn Ocean Marine Boss Hosa Okunbo
By Sodeinde Temidayo David
Notable Nigerians, including President Muhammadu Buhari, have commiserated with the family of Mr Idahosa Okunbo, the chairman of Ocean Marine Solutions Limited, who passed on on August 8 at the age of 63 after months of a hard-fought battle with pancreatic cancer at a London hospital.
Mr Okunbo was a Nigerian business magnate, investor, philanthropist and trained commercial pilot.
His family, in an official announcement of his death, was proud that the late Okunbo lived a good life and would therefore not mourn like the downhearted.
Also, in the statement from the family, signed by the head of the Okunbo family, Mr Tinyan Okunbo, and made available by the deceased’s Media Consultant, Mr Samuel Ajayi, thanked God for a life of service and dedication to humanity that the late businessman lived.
“We do not mourn like those that have no hope and we take solace in the fact that he lived a good life and he has gone to be with his Lord and Saviour Jesus Christ,” a part of the statement said.
While thanking everyone for their prayers and support all through this trying period, the family craved the understanding of all and sundry at these trying times and would want the immediate family to grieve in private, adding that further announcement will be made at a later date.
Being an influential figure, an entrepreneur and investor in Nigeria oil and gas and other related sectors, President Buhari, Governor Godwin Obaseki and former Governor Adams Oshiomhole, have sympathized with the family of Mr Okunbo and the people of Edo over the passing of their son, saying his exit was both painful and untimely.
President Buhari, in a release issued Sunday by his Media Adviser, Mr Femi Adesina, empathised with the family, friends and associates of Mr Okunbo, noting that the deceased, with investments spanning the petroleum, telecommunications, maritime, and power sectors, among others, contributed immensely to the development of the Nigerian economy, providing sustenance to many families in the process.
While praying for the rest of the soul of Mr Okunbo, Mr Buhari urged those who mourn him, particularly the people of Edo State, to whom he devoted time and resources, to sustain his legacies of well-spiritedness and large-heartedness.
Edo State Governor, Mr Godwin Obaseki, said in his statement on Sunday, stated that the state had lost a brother.
“It is with a heavy heart that I mourn the passing of a great son of Edo State, a brother, a distinguished Nigerian, an illustrious businessman and an accomplished philanthropist, Captain Hosa Okunbo.
“A man of unparalleled energy and accomplishments, Captain Okunbo saw opportunities in adversity and from an early age in life, carved a niche for himself to become one of Nigeria’s most outstanding businessmen.
“A trained pilot, he conquered the air at an early age and set for the waters and land, building enterprises that distinguished him in the business world and embodied the hard work, perseverance, dexterity and acumen that espoused his Edo heritage.
“Okunbo was a philanthropist, who gave lavishly of himself and his resources; thousands of Edo sons and daughters benefited from his charitable works and benevolence.
“As a mortal, Captain Okunbo was not a perfect person just as none of us can claim to be, but he will be remembered for his undying love for Edo people.
“His desire for the development and progress of our dear state, the Niger Delta region and Nigeria as well as his invaluable contributions to building bridges of peace across the country will never be forgotten.
“I commiserate with the Okunbo family, friends and associates of our departed brother and pray that God will grant all the fortitude to bear this irreparable loss,” he said.
Mr Obaseki predecessor, Mr Oshiomhole, a former President of the Nigeria Labour Congress (NLC), described the death of Mr Okunbo as an irreparable loss to humanity.
“I received Sunday morning, the unanticipated news that my friend, Mr Hosa Okunbo has passed on.
“I am in disbelief, shock and deep pain, to say the least. It is just too hard to come to terms with the reality that Capi is no more and words alone cannot appropriately capture the dark mood cast upon our land this day,” Mr Oshiomhole said.
Also, he noted that Mr Okunbo was not just a good friend, but a brother and an exceptionally dependable ally in all his efforts for a better Edo State and truly loved Edo State and wished only the best for his people.
Likewise, the Minister of State for Budget and National Planning, Mr Clem Agba, mourned Mr Okunbo, saying, “His death has created a huge vacuum that will be difficult to fill.”
Similarly, the president of the Commonwealth Medical Association (CMA), Mr Osahon Enabulele, described Mr Okunbo’s death as a tragic development.
“This explains why the death of our loved ones, as painful as it is, provides yet another opportunity for one to consciously reflect, refocus, and rededicate ourselves to cherished cardinal and theological virtues, and the upliftment of our common humanity.
“As you may already know, our combined efforts across Nigeria are focused on increasing cooperation on maritime and border security, the law of armed conflict and military justice, counterterrorism efforts against Boko Haram and ISIS-West Africa, defence trade, and strengthening governance and transparency of the security sector.”
By Modupe Gbadeyanka
The Transmission Company of Nigeria (TCN) has confirmed the collapse of five transmission towers along the Ikot Abasi–Eket 132kV Double Circuit Transmission Line.
This was attributed to severe acts of vandalism, as TCN disclosed that the structure collapsed after vandals removed critical structural bracing members.
The affected towers were N9, J4, N10, N11 and N12, the organisation said in a statement on Friday.
It explained that the extensive damage was discovered during a routine joint line patrol conducted on August 9, 2026, by TCN linesmen.
Further inspection revealed that structural members from seven additional towers along the same transmission corridor had also been removed and stolen. The towers, J3, N8, N13, N14, N15, N18 and N19, are now structurally compromised and pose a risk of further collapse.
TCN condemned this act of sabotage and reiterated its commitment to working hard to maintain a robust and reliable national grid.
The statement said that to mitigate the impact on electricity supply, the network has been reconfigured to prioritise supply to Ekim transmission station, leaving Ibom Power as the only station without supply.
TCN said it is mobilising an urgent intervention to complete the reconstruction of the affected sections of the line, with security agencies also notified to aid investigations and prevent further acts of vandalism along the line route.
By Adedapo Adesanya
The Speaker of the House of Representatives, Mr Tajudeen Abbas, has urged all relevant government agencies to promptly initiate actions for the full implementation of the Nigerian Ports Economic Regulatory Agency Act, 2026, following its signing into law by President Bola Tinubu.
The bill, sponsored by Speaker Abbas, was aimed at repealing the Nigerian Shippers’ Council Act, Cap. N133, Laws of the Federation of Nigeria, 2004, and establish the Nigerian Ports Economic Regulatory Agency to ensure effective economic regulation of Nigerian ports while safeguarding the interests of shippers, service providers, and users of regulated port services. With the President’s assent, it has now been enacted as an Act of Parliament.
The legislation represents one of the landmark achievements of the 10th National Assembly. It reflects the Speaker’s commitment to legislative excellence, institutional reform, and sustainable economic growth, according to a press statement by the Special Adviser on Media and Publicity to the Speaker, Mr Musa Krishi.
The bill underwent a rigorous and inclusive legislative process, including extensive stakeholder consultations and a public hearing. It was passed by both Chambers of the National Assembly and subsequently assented to by the President.
The Act provides a robust legal and institutional framework to ensure effective economic regulation of Nigerian ports by fostering transparency, competitiveness, and efficiency in port operations; protecting the rights and interests of shippers, service providers, and other port users; and aligning Nigeria’s port regulatory system with global best practices, thereby enhancing the ease and cost-effectiveness of doing business.
Despite receiving presidential assent, the Act has yet to be fully operationalised.
He warned that any further delay would undermine the legislative intent of the reform, prolong the exposure of port users to arbitrary charges and operational inefficiencies, and deny the nation the anticipated benefits of increased revenue, improved trade facilitation, and stronger investor confidence in the marine and blue economy sector.
The Speaker urged the Federal Ministry of Marine and Blue Economy, in collaboration with all relevant Ministries, Departments and Agencies (MDAs) of the federal government, to take the necessary administrative, institutional, and financial measures for the prompt implementation of the Act.
He said this should include the formal transition to, as well as operational empowerment of, the Nigerian Ports Economic Regulatory Agency to discharge its statutory mandate effectively.
The full implementation of the Act is critical to unlocking the economic potential of Nigeria’s ports, reducing the cost of doing business, strengthening trade competitiveness, and positioning Nigeria as the leading maritime and logistics hub in West and Central Africa.
The statement noted that the Speaker reaffirmed the 10th House’s commitment to exercising the necessary legislative oversight to ensure this landmark legislation, along with others assented to by the President, is fully implemented and achieves its intended goals for the benefit of the Nigerian people.
By Adedapo Adesanya
The Federal Ministry of Youth Development (FMYD), through the Nigerian Youth Academy (NiYA), has partnered with Cascador, a Nigeria-focused platform for growth-stage founders, to provide funding and support for the next generation of Nigerian youth entrepreneurs.
The announcement coincides with International Youth Day 2026, whose global theme this year — Different Contexts, Common Aspirations — calls on institutions to close the gap between young people’s circumstances and their opportunities. The pilot is an early step toward NiYA’s broader ambition to train and empower 7 million Nigerian youth within two years.
The NiYA and Cascador Founders Programme will begin with a pilot cohort of 20 early-stage Nigerian youth founders, including entrepreneurs without formal business registration or established financial records.
Over four weeks, participants will undergo intensive training focused on business fundamentals, investment readiness and pitch preparation. At the end of the programme, the eight top-performing founders will receive non-dilutive funding of up to N5 million each from Cascador, alongside an Enterprise Resource Planning (ERP) solution to help them structure, manage and scale their businesses.
The funding and support will be presented at a Pitch Day organised by NiYA and the Federal Ministry of Youth Development.
The Minister for Youth Development, Mr s Ayodele Olawande, said the partnership would enable NiYA to move beyond training by helping young people transform ideas into investable businesses and achieve sustainable economic participation through business preparation and access to capital.
“The pilot is deliberately designed to test a model that can go beyond one cohort. If young founders can be identified early, prepared properly, connected to credible capital and supported to build stronger business systems, then access to opportunity becomes less dependent on background or existing networks. That is the larger objective: to build a youth entrepreneurship ecosystem in which readiness, ideas and execution can increasingly determine who gets the opportunity to grow.”
The pilot will run in-person in Abuja with virtual touchpoints and 1:1 mentorship. All 20 graduates retain NiYA alumni status, with priority consideration for future opportunities.
NiYA and FMYD have already shown what real commitment to Nigeria’s youth looks like — the platforms, the reach, the ambition to train millions. What we’re building together now is the missing piece, a practical bridge from the ideation stage to real capital-readiness. When a Ministry so dedicated to its young people asked Cascador to help build that bridge, it was an easy decision,” said Trish Thomas, CEO of Cascador.
Ms Oyin Solebo, COO of Cascador and former Managing Director of the ARM Labs Lagos Techstars Accelerator, highlighted the partnership’s impact, saying, “This is what innovative capital deployment looks like: a government building real investment readiness at scale, and a partner meeting that foundational work with non-dilutive funding at exactly the moment it’s needed. Partnerships like this open doors that neither of us could open alone.”
