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EY Names Mitchell Elegbe Entrepreneur of the Year

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Mitchell Elegbe Entrepreneur of the Year

By Modupe Gbadeyanka

A renowned professional services firm, Ernst and Young (EY), has announced the founder and Group Managing Director of Interswitch, Mr Mitchell Elegbe, as the 2023 West African Entrepreneur of the Year (Masters Category).

Mr Elegbe was awarded for his contributions as an entrepreneur to the economic development of Nigeria and the West African region, having distinguished himself in business leadership and technology development.

This latest win is particularly significant as it followed his emergence as the Ernst and Young Entrepreneur of the Year (Emerging Entrepreneur category) in 2012.

“I am indeed humbled to have been honoured with this award, and I express my heartfelt gratitude to the panel of judges and to Ernst and Young West Africa for providing this platform that acknowledges and celebrates entrepreneurs in the region,” Mr Elegbe said of the honour.

Speaking further, he said, “A founder is only as effective as the team around him or her, and so this award is a reflection of the hard work and dedication of the team at Interswitch who have dedicated themselves to creating solutions that enable individuals and communities prosper across Africa.

“This recognition will serve to further entrench our commitment to never stop pushing the boundaries of innovation in a bid to create an Africa where payments are a seamless part of everyday life.”

The recognition automatically qualifies the Interswitch boss to contest in the Ernst & Young World Entrepreneur of the year 2023 to be hosted in Monte Carlo, Monaco.

The EY Entrepreneur of the Year Awards programme celebrates successful entrepreneurs who have combined ingenuity, hard work and perseverance to create and sustain successful growing businesses. The programme, a yearly global event, has enjoyed international recognition for over 30 years.

Business Post gathered that Mr Elegbe received his award on Thursday, March 16, 2023, at a prestigious gala held in Lagos. The event was witnessed by the Regional Managing Partner of EY West Africa, Mr Anthony Oputa; and the Minister for Trade and Investment, Mr Adeniyi Adebayo; among others.

The inaugural edition in West Africa took place in 2011. Since then, the programme has awarded several worthy Nigerians, including Mr Aliko Dangote, the President of Dangote Group; Mr Aigboje Aig-Imoukhuede, a former Group Managing Director of Access Bank; and Mr Cosmas Maduka of Coscharis Group.

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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FG Declares Thursday, Friday Public Holidays for 2026 Eid-ul-Fitr

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Eid-ul-Fitr

By Modupe Gbadeyanka

Thursday, March 19, and Friday, March 20, 2026, have been declared as public holidays by the federal government to mark Eid-ul-Fitr.

A statement on Tuesday by the Permanent Secretary in the Ministry of Interior, Mrs Magdalene Ajani, urged Muslims to sustain the virtues of love, generosity, peace, tolerance, and sacrifice emphasised during the holy month of Ramadan.

The work-free days were declared by the Nigerian authorities to celebrate the end of the 30-day fast of Ramadan observed by Muslims in Nigeria and across the globe.

The statement issued today said the Minister of Interior, Mr Olubunmi Tunji-Ojo, who declared the holidays on behalf of the federal government, extended warm greetings and heartfelt congratulations to the Muslim faithful on the successful completion of the holy month of Ramadan.

He called on all Nigerians to use the festive period to pray for the continued peace, unity, and prosperity of the nation.

While wishing the Muslim faithful a joyful Eid-ul-Fitr celebration, the Minister encouraged citizens to celebrate responsibly and extend acts of kindness to the less privileged in society, expressing the government’s commitment to “fostering national unity and peaceful coexistence among all Nigerians.”

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LASERC Targets Energy Efficiency, Supply Stability for Lagos Businesses

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LASERC

By Adedapo Adesanya

The Lagos State Electricity Regulatory Commission (LASERC) is targeting improved energy efficiency and the reduction of electricity supply hiccups to meet demand from the commercial sector.

The chief executive of the commission, Mr Temitope George, while listing the development agenda, vowed to make LASERC the foremost electricity regulator in Nigeria, reaffirming its commitment “to be the leading electricity regulator facilitating sustainable electricity and enhancing the quality of life for all residents in Lagos State.”

Mr George spoke at the close of the organisation’s maiden three-day capacity-building retreat, which had in attendance members, senior government officials, regulatory experts, and industry stakeholders to deliberate on key issues shaping electricity regulation and market development in the state.

With the theme Strengthening Regulatory Framework and Institutional Capacity for a Sustainable Electricity Market in Lagos State, the forum served as a platform for knowledge exchange, policy alignment, and institutional learning aimed at sharpening regulatory effectiveness and electricity governance in Lagos.

Speaking at the event, the chairman of the House Committee on Energy and Mineral Resources, Mr Sabur Oluwa, assured the commitment of the Lagos State House of Assembly to support policies and legislative frameworks that will promote sustainable power development and improved electricity service delivery for residents of the state.

Also, the Attorney General and Commissioner for Justice, Mr Lawal Pedro (SAN), highlighted the role of legal and institutional frameworks in ensuring effective regulation and alignment with the broader developmental priorities of Lagos State.

Delivering a presentation on the strategic implementation plan and electricity policy overview, the commissioner for Energy and Mineral Resources, Mr Biodun Ogunleye, noted that a well-structured regulatory framework is essential for attracting investment, improving infrastructure, and ensuring a reliable electricity supply across the state.

The permanent secretary of the ministry, Mr Abdulhafiz Toriola, stressed that effective collaboration within the public service is critical for the successful implementation of policies that will strengthen the electricity sector and enhance service delivery.

The general manager of the Lagos State Consumer Protection Agency, Mr Afolabi Solebo, shared insights on strengthening consumer protection mechanisms and improving complaint resolution within the electricity market, while the director general of the Lagos State Public Procurement Agency, Mr Fatai Onafowote, highlighted the role of procurement processes in ensuring transparency and efficiency in public sector projects.

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FG to Strengthen Human Capital Development in Petroleum Sector

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PTDF

By Modupe Gbadeyanka

The federal government has reaffirmed its commitment to strengthening human capital development and institutional collaboration in Nigeria’s oil and gas sector.

The Permanent Secretary in the Ministry of Petroleum Resources, Mrs Patience Oyekunle, during a familiarisation and courtesy visit to the Petroleum Technology Development Fund (PTDF) in Abuja on Monday, described the organisation as a strategic institution within Nigeria’s petroleum sector architecture.

According to her, the organisation’s mandate to develop indigenous human capacity for the oil and gas industry remains critical to the long-term sustainability, competitiveness and technological advancement of the sector.

She lauded the body for its contributions to manpower development through its Overseas and In-Country Scholarship Schemes, which have supported the training of thousands of Nigerian professionals in petroleum and energy-related disciplines over the past two decades.

The senior government official noted that many beneficiaries of the programmes now contribute meaningfully across Nigeria’s oil and gas industry, regulatory institutions, academia and research establishments, thereby strengthening the country’s technical competence and knowledge base in the sector.

Mrs Oyekunle further reiterated that the ministry remains committed to advancing sector reforms and the strategic priorities of the federal government.

She stressed that the ongoing transformation of Nigeria’s petroleum industry following the enactment of the Petroleum Industry Act (PIA) places renewed emphasis on efficiency, transparency, institutional effectiveness and the strengthening of indigenous technical capacity across the sector’s value chain.

Earlier in his welcome address, the Executive Secretary of PTDF, Mr Ahmed Galadima Aminu, reaffirmed the fund’s commitment to supporting the policy direction of the federal government and working closely with the ministry to further strengthen Nigeria’s petroleum industry.

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