General
Emotions Pour as Dignitaries Eulogise Late Herbert Wigwe
By Adedapo Adesanya
It was an emotional rollercoaster at the tribute event held on Monday night to celebrate the late group chief executive of Access Holdings Plc, Mr Herbert Wigwe.
Dignitaries from government, corporate organisations, and royalty paid tribute to the late titan who died alongside his wife, son, and a former group chairman of the Nigerian Exchange (NGX) Group Plc, Mr Abimbola Ogunbajo, on February 9 in the United States.
The event which was monitored by Business Post was divided into six segments – Young Hebert, the banker, the entrepreneur, the CEO, the builder and the ambassador.
These personalities relished adventurous and courageous stories from Wigwe’s early childhood and later his successful sojourn and success stories from GTBank and later the acquisition of Access Bank.
A friend of the deceased, Mr Aliko Dangote, was in tears as well as Mr Aigboje Aig-Imoukhuede, his long-term business partner and co-founder of Access Bank and Mr Femi Otedola, in an emotion-laden voice, also expressed the qualities of Mr Wigwe.
Governor Dapo Abiodun of Ogun, who first spoke for the governors reiterated his encounter with the late banker.
“It is a tough season for all of us,” Mr Abiodun said, noting that “words were not enough to describe how larger than life Wigwe was as he achieved so much within a short lifetime.”
“Herbert was loyal to his friends, way ahead of his time ever forward-looking,” he stated.
He said Mr Wigwe believed in the country Nigeria, and he was patriotic, adding that he met him about 30 years ago and thanked Wigwe for believing in him and being supportive of his programmes and projects.
He also said the projects included Gateway International Airport and the Epe/Ijebu-Ode Road projects, among others.
He described Mr Wigwe as a bridge builder, selfless, bold and courageous. He said it still felt like a bad dream that Herbert was gone, saying he was happy he honoured the invitation to see Mr Wigwe’s new home.
He disclosed that Mr Wigwe had a street named after him in Beirut, the capital of Lebanon saying, “he lived more than a life in one lifetime.
In an unprepared speech, Governor Babajide Sanwo-Olu of Lagos narrated his last conversation with Wigwe on Thursday, February 8, where lofty ideas were discussed.
“This was the last conversation that I will keep on my phone for a long time,” he said.
He promised to immortalise the late founder of Access Bank, Dr Herbert Wigwe, who was born at the Island Maternity Hospital in the state.
He said that Wigwe was a man who always had good stories and supported several projects of his administration driving him to take up new challenges.
“Herbert was one of the very first people that supported my ambition generously,” he added.
He said it was unbelievable how a man could give so much, including his words of encouragement. Sanwo-Olu revealed how Wigwe collaborated with other partners to cushion the effects of COVID-19 during the dreaded global pandemic.
“Herbert led from the front, encouraged and stood with the state government. I have indeed lost a big friend,” he added.
He said Mr Wigwe and Mr Aigboje Aig-Imoukhuede, the former group managing director of Access Bank, took a trip with him to Cairo to pursue visions of Lagos.
He also said Mr Wigwe had a special history of Isale Eko, and Lagos would immortalise him, haven being born in Island Maternity Hospital.
He said if places of birth mattered, Mr Wigwe should be of Isale Eko origin, noting, “Herbert has transcended beyond borders.
“Lagos will not forget Herbert Wigwe. We will support the family,” he said.
The Minister of Finance, Mr Wale Edun, narrated Mr Wigwe’s contributions to sports and various sectors, including supporting his personal and family visions.
“Herbert gave me his time and thinking, what I valued most; the man is never short of ideas,” he noted.
Mr Olayemi Cardoso, the Governor of the Central Bank of Nigeria(CBN), lauded Mr Wigwe’s hard work, broad knowledge base and role in shaping banking reforms further.
He said that Mr Wigwe’s commitment to reform and his genuine concern for the well-being of Nigerians garnered significant recognition.
The CBN Governor said he and the deceased recently discussed the way out of the country’s economic impasse, adding that the banker’s demise had left a vacuum in the banking sector and the economy.
On his part, the former CBN Governor, Mr Lamido Sanusi, emphasised the immense value of Wigwe’s contributions and the challenges that could arise in finding a suitable replacement.
Mr Sanusi recognised Mr Wigwe’s influence and the long-lasting imprint of his work, saying that further solidified the remarkable nature of his contributions.
For Mr Ibrahim Dankwambo, the former Senator for Gombe North and former governor of Gombe State, eulogised saying “from Him we come, to Him we shall return” and reeled out good times with the late founder, saying he was handed over to him as a brother by his father.
Mr Dankwambo, a former Accountant-General of the Federation, shared hilarious moments and described Mr Wigwe as a detribalised Nigerian.
Tributes of President Bola Tinubu, former President Olusegun Obasanjo, President Emmanuel Macron of France, and former US President Bill Clinton were read at the event.
Also, friends, associations, professional colleagues, Access Bank management from Nigeria, Ghana, and the UK as well as staff took turns to eulogise the patriotism, friendship, and mentorship qualities of Wigwe.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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